Futu

BASIC INFORMATION

Futu is a recognized fintech unicorn and one of Asias top-ranking online brokers. It provides a fully digital service and advanced wealth management options to clients residing in China. Futu Securities International (Hong Kong) Limited is a technology corporation, running a fully digitized brokerage with a secure trading platform. Founded in 2012, the financial company has developed leading investment services.

REGULATORY INFROMATION: LICENSE

Futu Securities International is registered by Hong Kongs Securities and Futures Commission (SFC), CE number AZT137.

MARKETS

Futu offers clients worldwide investing and trading opportunities from Hong Kong, mainland China, and US markets in the following securities:

· IPOs

· ETFs

· Stocks

· CBBCs

· iBonds

· Options

· Warrants

COMMISSIONS

Futus fee structure offers zero-commission trading periods on US and Hong Kong stocks and shares. Below is a full breakdown of standard commission charges.

· US Stocks: 0.0049 USD per share

· US Options: 0.65 USD per contract

· US Futures: 2 USD per contract per side

· IPO Subscriptions (Cash): 50 HKD per order

· Chinese Stocks: 0.03% x transaction amount, minimum 3.00 CNH per order

· Hong Kong Stocks: 0.04% x transaction amount, minimum 3.00 HKD per order

· Hong Kong Options: 0.2% x transaction amount, minimum 3.00 HKD per order

· IPO Subscriptions (Futu Financing): the annual interest rate of HK stock margin (ave. 6.8% per year)

The annual margin rate for financing is a flat rate of 6.8% for Hong Kong stocks, 4.8% for US stocks and 8.8% for China A-shares. This is comparable to Moomoo and Webull rates, though less competitive than many other brokers both inside and outside of China.

Futu brokerage fees can be either fixed, at a flat rate of 15 HKD per order, or tiered, with the price falling from 30 HKD per order with increasing trading volume.

Clients may also incur other charges, including regulatory fees, exchange settlements, trading activity costs and stamp duty.

LEVERAGE

Leverage is available to all of Futus retail clients, though only with a minimum account value of $2,500. Leverage is capped at 1:2 for long positions and 1:1.67 for short positions.

ACCOUNT TYPES

There are four different types of Futu accounts, each geared for different trading preferences:

· Fund Account

· US Margin Account

· Hong Kong Margin Account

· Northbound Margin Account

PAYMENT METHODS

Deposits

Futu only accepts bank transfers as a funding method, with cash, e-wallet and joint account transfers not supported. There are no broker deposit fees, though third-party payment charges may apply. While processing times vary by bank, Futu aims to approve fund settlements within one working day. ICBC (Asia) accounts are recommended as the fastest deposit processing method.

Futu has an initial minimum deposit requirement of 10,000 HKD/1,500 USD.

Withdrawals

Futu Securities International does not charge a withdrawal fee. Clients must withdraw to an account matching the trading account owner and can be done either through cheque or bank transfer. The capital to be withdrawn must first be settled with the exchange, which can take two business days for Hong Kong and US stocks.

Processing times vary with third-party bank timings, although the broker will action the request in the same business day if received before 15:00 HKT. Withdrawals can be requested through the Futubull app

TRADING PLATFORMS

The broker only offers a proprietary digital platform terminal, Futubull, which is free for download to desktop devices running on Windows and Mac.

ACCEPTED COUNTRIES

Futu only accepts traders from China, Hong Kong

TRADING HOURS

Futu follows standard local office hours but supports trading 24-hours a day between Monday and Friday. However, different instruments may have specific opening and closing times, often dependent on their respective exchanges trading hours.

CUSTOMER SUPPORT

Futu brokerages customer service team can be contacted via the email address, phone number or postal address below. No live chat option is available, meaning clients cannot get immediate answers to their questions.

· Email: BD@futunn.com

· Telephone: (+852) 2523 3588

· Address: Unit C1-2, 13F, United Centre, No.95 Queensway, Admiralty, HK