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FAQ

FAQ



Company Feature

qusetion 1. How can Chief protect client's asset?
answer

To provide extra guarantee for clients, a Daily Independent Auditing System has been established since 2002. The CHAN & CHAN has been appointed as the independent auditor to perform DAILY AUDIT of our clients’ assets. The audited report will be daily posted in our office and sent to our clients along with daily and monthly statements. For more details, please refer to the “About Chief” section in this website.

Account Opening

qusetion 1. What kind of services can I choose in Chief?
answer
  • HK Securities Trading
  • HK Securities Futures and Options Trading
  • HK Index Futures and Options Trading
  • Global Securities Trading
  • Global Commodities Trading

Note: The above services can be performed via Internet or phone

qusetion 2. What type of trading accounts does Chief offer?
answer

Custodian Account (P A/C)

Customers can trade HK securities that listed on the HKEx. The amount of executed BUY (SELL) transactions including commissions and other related expenses will be Deducted from (Added into) their custodian accounts. Customers are entitled to receive a corresponding interest rate as in the bank when there is an on-hand cash balance in the custodian account (Interest is computed on a daily basis). Customers can also place orders via internet trading platform; however, orders can only be placed when there is sufficient cash balance (Buy) or sufficient shares of stock (Sell).


Margin Account (M A/C)

Customers can trade HK securities through margin financing. According to individual stock's marginal value (Refer to Margin list), full payment of trade proceeds might not be required on the settlement date. Customers can also place orders via internet trading platform; however, orders can only be placed online when there is sufficient cash balance (Buy) or sufficient shares of stock (Sell).


Stock Options Account

Customers need to open both Stock and Stock Option Accounts for Stock Option trading. Internet trading platform is available for the Stock Options Account. An option buyer has the right to buy/sell the underlying stock at the strike price on or before the expiry day after paying the option premium. On the other hand, an option seller will lose his/her rights to buy/sell after receiving the premium. Option seller has the obligation to buy/sell the underlying stock at the strike price upon exercise on or before the expiry day. Customer is required to deposit sufficient Margin Value in order to open any option selling position unless the same shares of stock is ready to cover in a call option selling. Client can visit HKEx for the amount of margin value to be paid (update daily). For more information, please check with “Stock Options” section in this website.


Futures and Options Account

Customers can trade index futures, index options, stock futures and global futures with Futures and Options Account in Chief Commodities Limited. Phone and Internet trading platform are both available for the Futures and Options Account; however, sufficient cash deposit is required to trade online.


Global Securities Margin Account (M A/C)

Customers need to open an US Securities Accounts in order to trade stocks that listed in NYSE, American Stock Exchange and NASDAQ. Customers can place order via either internet trading platform or phone; online order can be placed only with sufficient cash balance (buy) or shares of stock (sell). Once the condition is fit under the regulation from the Internal Revenue Service, customers are exempted from the Capital Gain Tax. However, please note the 30 percent dividend tax under share dividend is excluded from the exemption.

qusetion 3. How can I open an account in Chief? Are there any charges or minimum deposit requirement for account opening?
answer No charges are needed to open an account in Chief including monthly fees, custody fees and dormant account fees. Account openings can be done in 3 ways:

  • Visit our head quarter or branches
  • Post the application to our head quarter
  • Make an appointment through our website

Please bring along your HKID card/Passport and an address proof within the past 3 months for account opening (ie. Utility bills, bank statements etc.). For postal application, a copy of HKID card/passport and address proof are needed together with the application form and a personal cheque with amount not less than HK$10,000. Application form can be downloaded through “Download Area” in our website. For appointment booking, you can fill in the form online and book an appointment in any of our branch; we will confirm the booking with you shortly.

qusetion 4. What is the major concern when doing postal application?
answer A personal cheque with amount not less than HK$10,000 is essential when doing a postal application. Below are some kindly reminders:

  • The presented name on cheque has to be totally matched with the HKID card/passport of applicant.
  • Cheque headings should put “Chief Securities Limited” for Stock Account application and “Chief Commodities Limited” for Futures Account.
  • Signature on cheque has to be totally matched with the application form.
  • Cheque has to be issued by Hong Kong Licensed Banks
  • Cheque has to be single named, join bank account is not accepted.
  • Join Account application should submit two separate personal cheques

Cheque can be excluded if the application form is certified and signed by a specified person, including any SFC licensed or registered person, a Justice of Peace, a Branch Manager of a bank, Certified Public Accountant or Notary Public.

Fund Deposit and Withdrawal

qusetion 1. Ways for fund deposit?
answer

Bank Deposit

Customer can deposit via designated banks before 17:00 on each business day and fax the deposit slips to our Customer Services Department at 8147 2612 or email to (cs@chiefgroup.com.hk) for confirmation. Customer should indicate their account number and account name on the deposit slip. Unique amount is suggested to be deposited, e.g. $2001.2, $5006.3 in order to shorten funds verification. Customer with any integral deposit is required to provide deposit receipt. For cheque deposit machine, please put down the Chief’s account number on the remark column.

When there is more than one client deposited the same amount, deposit receipt will be required, the final judgment will be determined by the deposit receipt. Therefore, deposit receipt is suggested to be kept for at least 3 months to protect your interests.


BOC Sub-account Service

Customer can deposit via their own BOC Sub-account. Deposited fund will update automatically before the cut-off time. Deposit confirmation is not required via using the BOC sub-account service. BOC Sub-account Service support both E-banking transfer and direct transfer but not for ATM transfer.
( * This service is only available for HK Stock account but not for US Stock, Stock Options or Futures account.)


ICBC Sub-account Service

Customer can deposit via their own ICBC Sub-account, payment made before 16:00 will be updated to your Chief’s account within 60 minutes. Deposit confirmation is not required via using the ICBC sub-account service. ICBC Sub-account Service support both E-banking transfer, direct transfer and ATM transfer.
( * This service is only available for HK Stock account but not for US Stock, Stock Options or Futures account.)


Bill Payment (For HSBC and Hang Seng Bank Only)

Customer can make payment through HSBC or Hang Seng Bank e-banking, phone banking and ATM bill payment service. Choose Chief Securities Limited or Chief Commodities Limited as the payee and input the 8-digit account number as Payment Reference. Payment made before 15:00 on trading day, will be updated to your Chief’s account within 30 minutes.


Example:
If account number is P12345, please enter 00012345
If account number is P123456, please enter 00123456

Self-service Cheque Deposit Service (For HSBC and Hang Seng Bank Only)

Cheque deposit can be done through HSBC “Cash Deposit Machine”/ Hang Seng Bank “Quick Cheque Deposit”. Insert cheque and key in Chief designated bank account number with the total deposit amount. After that, please key in the Customer Reference, i.e. the combination of Account Type and 4-8 Digit Account Number.

Example:
Account Type 4-8 Digit Account Number Customer Reference
A - Cash Account 1234 A1234
P - Custodian Account 12345 P12345
M - Margin Account 123456 M123456
O - Stock Options Account 1234567 O1234567
F - Futures / Options Account 12345678 F12345678

Attention: For using Hang Seng Bank “Quick Cheque Deposit” service, the customer reference must be input in order to complete the entire deposit procedure. If Customer is unable to provide a valid “Customer reference”, please keep the deposit slip and contact the Funds Deposit& Withdrawal Hotline (852) 2500 9180.


PPS

Customer can make payment through PPS via phone at 18033 or visit www.ppshk.com. Please choose Chief Securities Limited (Merchant Code 9680) / Chief Commodities Limited (Merchant Code 9681) as your payee in the PPS system and then input your 8-digit account number as your Payment Reference Number.

Example:
If account number is P12345, please enter 00012345
If account number is P123456, please enter 00123456


PPS Instant Fund Deposit

Customers may transfer funds into their Stocks Account, Futures and Options Account or Stock Options Account instantly through the PPS Instant Fund Deposit services on our website, relative funds will instantly reflect on the account and are ready for use. Deposit confirmation is not required via using this service Minimum amount per deposit is HK$1,000 and daily maximum deposit is limited to HK$100,000.


Payment in Person

Customer can visit any of our branches or settlement department at headquarter for cash or cheque deposit before 16:00 on each business day. Maximum amount for cash deposit is HK$1000.

qusetion 2. What is the bank account number of Chief?
answer
Chief Securities Limited Designated Bank Accounts (Suitable for HK stocks, US stocks and Stock Options Account)
Chong Hing Bank (HKD) 256-10-266611-2
HSBC (HKD) 400-273900-292
Hang Seng Bank (HKD) 383-017175-668
Bank of China (HKD) 070-932-1-001950-0
Hang Seng Bank (USD) 773-720974-222
Bank of China (CNY) 012-875-0-601221-6
HSBC (CNY) 400-273900-209
Chong Hing Bank (HKD) – Stock Options 256-10-269014-6

Chief Commodities Limited Designated Bank Accounts (Suitable for HK & Global Commodities)
HK Futures
HSBC (HKD) 600-638282-002
HSBC (USD) 600-638282-201
HSBC (CNY) 848-201349-209
Bank of China (HKD) 012-875-0-040383-4
Bank of China (USD) 012-875-0-801657-3
Bank of China (CNY) 012-875-0-602238-5

Global Futures
HSBC (USD) 502-693450-201
HSBC (EUR) 808-169734-275
HSBC (JPY) 808-169734-278
HSBC (GBP) 808-169734-276
Bank of China (USD / EUR / JPY / GBP) 012-875-9-240576-1
qusetion 3. Do I need to contact Chief after fund deposit?
answer

In general, customer needs to contact us for deposit confirmation either by calling our Accounting Hotline at (852) 2500 9180 or by fax at (852) 8147 2612. Customer can also notify us through the Online Trading Platform for deposit or withdrawal (for HK Stocks only). By using the following methods, customer is not required to inform us for confirmation as the amount will be automatically reflected on the Chief’s Account:


  • Bill Payment (for HSBC/Hang Seng Bank only)
  • PPS
  • PPS Instant Fund Deposit
  • Payment in Person
  • BOC Sub-account Service
  • ICBC Sub-account Service
qusetion 4. When can I trade after fund deposited?
answer
Method Time required after confirmation
Cash Transfer

    Deposit confirmation can be done in the following ways:

  • Call our Accounting Hotline at (852) 2500 9180
  • Fax the deposit slip at (852) 8147 2612
  • Notify us through our online trading platform (for HK Stocks only)
Within 30 minutes after confirmation
Bill Payment Transactions has to be done before 17:00, any transaction done after 17:00 will be automatically updated into the Chief’s Account on the next business day. (No further confirmation is needed) Automatically update within 30 minutes
PPS Transactions has to be done before 19:00, any transaction done after 19:00 will be automatically updated into the Chief’s Account after the next working day. (No further confirmation is needed) Automatically update before 10:00 on next business day
PPS Instant Fund Deposit Transactions has to be done before the cut-off times, any transaction done after the cut-off times will be automatically updated into the Chief’s Account after the next working day.

The cut-off times are as below:
Securities 17:00
Futures and index options 16:30
Stock Options 16:00
Immediately update
Cheque Payment by cheque is accepted in person to our branch, banks or cheque deposit machine (please avoid using cheque box). Please keep the deposit slip for reference or key in the Chief’s Account number if using cheque deposit machine. Update after the cheque is cleared
BOC Sub-account Service Transactions has to be done before 17:00, any transaction done after 17:00 will be automatically updated into the Chief’s Account on the next business day. (No further confirmation is needed) Automatically update within 30 minutes
ICBC Sub-account Service Transactions has to be done before 16:00, any transaction done after 16:00 will be automatically updated into the Chief’s Account on the next business day. (No further confirmation is needed) Automatically update within 60 minutes
qusetion 5. How can I withdraw money from my Chief’s Account?
answer

Customer can notify us before 13:00 on each business day in 3 ways:

  • Call our Account Hotline at (852) 2500 9180
  • Contact our branches or customer services department
  • Notify us through our online trading platform (for HK stocks only)

For fund withdrawal from HK Stock, Stock Option and Futures and Option Account, Chief will carry out electronic fund transfer for customer who registered Chong Hing Bank, HSBC, Hang Seng Bank or Bank of China as their designated receiving bank. For customer with other designated banks registered, bank cheque will be used for fund withdrawal. Customer is also welcome to pick up their cheque from our Head Quarter.

Note: Electronic fund transfer is not available for US Stock, Global Commodities withdrawal and RMB withdrawal. Clients who registered Chong Hing Bank as their Futures and Option Account will also receive cheque for fund withdrawal.

qusetion 6. What is the major concern when making Bill Payment and PPS Services?
answer

Deposit confirmation is not required after payment; however, deposit slip is suggested to be kept for at least 3 months to protect your interests if needed. For checking the transaction status, please contact the corresponding bank or our Customer Services Department at (852) 2500 9199. Customer may need to change their transaction limits with corresponding bank when making their first transaction. For more details, please contact your corresponding bank.

qusetion 7. What is Chief's PPS Merchant name and Merchant Code?
answer
Merchant Name PPS Merchant Code
Chief Securities Ltd 9680
Chief Commodities Ltd 9681
qusetion 8. How to register Chief Code to PPS account? How to process the payment?
answer

Please refer to instructions in PPS website as below:
Use PPS by internet, please click here
Use PPS by phone, please click here

qusetion 9. What is the minimum/maximum transfer amount through PPS?
answer The amount is ranged from HK$1,000 to HK$100,000 per day.

Order Instructions

qusetion 1. What are the trading sessions in Hong Kong stock market?
answer

Pre-opening Session (09:00 to 09:20)

The AMS/3 only accepts at-auction and at-auction limit orders during the Pre-opening Session and Closing Auction Session as long as the order price input into the AMS/3 does not deviate 50 spreads or more from the previous closing price or the nominal price (as the case may be), if available. At-auction orders can only be placed during 09:15 to 09:20, and any orders cannot be cancelled or amended during those period.


Continuous Trading Session (09:30 to 12:00 & 13:00 to 16:00)

The AMS/3 only accepts limit, enhanced limit and special limit orders (with an option for an "All-or-Nothing Qualifier" that confines the order to be either executed immediately in full or rejected without being written into the central order book) during Continuous Trading Session as long as the order price input into the AMS/3 (i) does not deviate 24 spreads or more from the nominal price, if available, and (ii) follows the quotation rules unless the restriction is waived.

qusetion 2. What are Enhanced Limit Order, Limit Order, At-auction Order, At-auction Limit Order and Special Limit Order?
answer

Enhanced limit order (EL)

Order will only be executed at a specified price or one better spread;


Limit order (PL)

Order will only be executed at a specified price;


Special Limit order (SL)

A special limit order will allow matching of up to 5 price queues (i.e. the best price queue and up to the 5th queue at 4 spreads away) at a time provided that the traded price is not worse than the input price. A special limit order has no restriction on the input price as long as the order input price is at or below the best bid price for a sell order or at or above the best ask price for a buy order. Any outstanding special limit order will be canceled and will not be stored in the AMS/3;


At-auction order (AO)

Order will be executed at the final IEP in the pre-opening session. It will be canceled automatically if it is not being executed. At-auction orders get higher priority than at-auction limit orders during order matching process;


At-auction limit order (AL)

Order will be executed at a specified or better price during the pre-opening session and will be placed as a limit order in the market after the pre-opening session if it has not been executed.

qusetion 3. What types of orders can be placed during the Pre-opening Session, Continuous Trading Session and Closing Auction Session?
answer
Time Periods Types Place Order Amend Order Cancel Order
09 : 00 - 09 : 15 Order Input Period AO
AL
AO:
AL:

AO:
AL:

AO:
AL:

09 : 15 - 09 : 20 Pre-order matching period AO
AL
AO:
AL:

AO:
AL:

AO:
AL:

09 : 20 - 09 : 30 Matching Period (No-trade zone) Customers can amend, cancel and place their Buy/Sell orders during that period; however, the order will only be executed at 09 : 30.
AL orders that cannot be matched during the matching period will be carried forward to the continuous trading session; However, the unexecuted AO orders will be canceled automatically after the matching period.
09 : 30 - 12 : 00 Continuous Trading Session (AM) EL
SL
PL
EL:
SL:
PL:


EL:
SL:
PL:

N/A
EL:
SL:
PL:

N/A
12 : 00 - 13 : 00 Noon Break Customers can cancel their orders during this period; however, the order will be executed after 12 : 30.
Orders that being amended during this period, will be executed when market reopen at 13 : 00; therefore, we strongly suggest customer to cancel their orders during 12 : 30 - 12 : 59 first, and then place another new order during this period.
13 : 00 - 16 : 00 Continuous Trading Session (PM) EL
SL
PL
EL:
SL:
PL:


EL:
SL:
PL:

N/A
EL:
SL:
PL:

N/A

Note: Please be reminded that orders may be cancelled by Hong Kong Stock Exchange after amendment in a fluctuate market (Amended Price should not be higher than the best buy in price in a buy order or lower than the best sell out price in a sell order).

qusetionr 4. What is “Condition Trigger Order”?
answer “Condition Trigger Order” allows customer to set suitable price order in order to lock profit/cut lost. Customer can also place an order which valid as long as 14 days.
qusetion 5. What is the major concern when setting “Condition Trigger Order”?
answer Please kindly pay attention to the following item when setting “Condition Trigger Order”:

  • The trigger price and condition (Pre-opening session can be included)
  • Order valid period (Order can be set valid as long as 14 calendar days)
  • If there is any partially executed orders, remains will be sent out to market within the order valid period.
  • All Limit Orders will deduct the buying power (Buy)/number of shares (Sell) in advance before executed.
qusetion 6. How can I amend or cancel orders on online trading platform?
answer

Trading orders can be found under “Order Enquiry”, please select the corresponding order and click “Amend” or “Cancel” button to adjust the order condition. Only unexecuted orders can be amended/cancelled.

qusetion 7. How can I know the order status?
answer Order status can be traced through the “Order Enquiry” on our online trading platform. For further enquiry, please contact our Securities Trading Hotline at 2500 9199.
qusetion 8. Under what circumstances will my placed order be rejected?
answer

Trade order may be rejected under following conditions:

  • Order placed is far beyond the market price.*
  • Price beyond 24 spreads within Continuous Trading Session, or beyond 50 spreads within Pre-opening Session.
  • Insufficient cash deposit (Buy) or shares of stock (Sell) when placing online orders
  • Transaction amount exceeds credit limit (not applicable for online trading users)
  • Order is placed during inappropriate period.

*   Spread reference

Stock price (HKD$)
Spread (HKD$)
0.01 to 0.25 0.001
0.25 to 0.50 0.005
0.50 to 10.00 0.010
10.00 to 20.00 0.020
20.00 to 100.00 0.050
100.00 to 200.00 0.100
200.00 to 500.00 0.200
500.00 to 1000.00 0.500
1000.00 to 2000.00 1.000
2000.00 to 5000.00 2.000
5000.00 to 9995.00 5.000
qusetion 9. How long are the orders being valid?
answer

Orders placed in the system will be valid within the trading hours of the day only (Except using the order valid period in “Condition Trigger Order”). Any unexecuted orders will be deleted. Orders received after 16:00 will be queued according to the input time and will be sent on the following trading day. Please be ware that orders may be rejected under a fluctuate market.

qusetion 10. What happen if the order is partially executed?
answer

Any unexecuted orders will be deleted by the end of the day. The executed portion in buy order will be deposited into Chief Account; the unexecuted portion in sell order will be kept in account.

qusetion 11. How to place CBBC (Callable Bull/Bear Contract), Derivative Warrant or ETF (Exchange Traded Fund) orders?
answer

Above orders can be placed through HK stock account. Please be reminded that, SFC has amended the “Code of Conduct” started from 1st September, 2011 in order to protect the interests of investors. Under section 5.1A in the “Code of Conduct”, the licensed or registered person should explain the relevant risks associated with the product to a customer without knowledge of derivatives wishes to purchase a derivative product.

Customer who wishes to invest CBBC, Warrants or ETF can study and accept their related risks by using the following 3 ways:

Relative derivatives will be available for trades in one or two business day after confirmation.
qusetion 12. How can I sell odd lot shares?
answer

Share trading size which is less than a board lot size is classified as odd lot. Customers can trade odd lot shares through our Securities Trading Hotline 2500 9199 or Top Trader Trading Platform.

Note: Odd lot trades are normally executed at a few spreads inferior to the normal bid/ask quote.

Deposit and Withdrawal of Physical Stocks

qusetion 1. Can I deposit physical scrip into my Chief account?
answer

Yes. You can deliver the share certificate(s) of stock(s) to our Head Quarter or branch office during the office hour. Please be reminded to sign at the “transferor signature” on the back of the share certificate. The name(s) on those share certificates has to be matched with the account holder(s). Joint account in Chief does not accept single named share certificates.

qusetion 2. How can I withdraw physical stock from my Chief account?
answer

Customer can visit our Head Quarter or branches in person to fill in the "Request for Securities Withdrawal" form, or stating the withdrawal order by calling our Customer Services Hotline (Signature verification is required when collecting the physical scrip).

Note: If you want to receive dividend after stock withdrawal, please register the shares before the book closed.

qusetion 3. What is the major concern for physical stock withdrawal?
answer

As every stock has its own book closure period, customer is strongly suggested to check with the relevant Share Registrar before the transfer in order to protect customer’s interest. Customer is responsible for all consequent on the witness request from our staff.

qusetion 4. What is the procedure of selling physical scrip?
answer

By Online Trading Platform

In general, the shares of stock will be shown in the “Instrument Balance” on the platform in 2 working days after physical scrip is deposited. Customer please signs on the “Signature of Transferor(s)” on the back of the scrip before passing it to us. We reserved the rights to hold up the sell order until physical scrip is full deposit in around 10 working days if there is any concern about the physical scrip.

By Phone-in

Customer can sell their physical scrip through our Securities Trading Hotline at 2500 9199 before making the deposit. In this situation, customer should deposit the physical scrip to our branches on T+1 before 4:00pm or to our Head Quarter on T+1 before 6:00pm.

*   If customers apply IPO through WHITE Application Forms, please verify the information on the share certificate(s) before selling the physical stock. For any enquiries, please contact our Customer Services Hotline at 2500 9199.

Settlement and Credit Issue

qusetion 1. If I have a new account, should I make any initial deposit before placing a new order?
answer

YES. For any new customer, sufficient deposit is required for their first order. Please be reminded that cheque deposit requires its clearance before the first order can be placed.

qusetion 2. Can I place any order if my account does not have any cash deposit or shares of stock?
answer

NO. Generally speaking, clients account must have a certain percentage of cash deposit upfront before any transactions. Percentage required vary according to the risk level of relevant stock, high risk product such as small cap stocks, Warrants or CBBCs would require a higher cash level.

qusetion 3. If I cannot settle my overdue payment after T+2, can I keep my stocks if only paying interest?
answer

NO. All Cash Account customers (except Margin Account) must settle their overdue payment after T+2. Please kindly note that we reserve the rights to sell the proceeds without any prior notice for any customer who cannot settle the overdue payment after the specific date.

qusetion 4. How to calculate the interest on outstanding balance?
answer

For Cash Account, an interest of P+5% (annual rate) will be charged on your debit balance, weekends and public holidays are included in the calculation.

Example:
Assume the current prime rate is 5.25%, the daily interest of a $10,000 debit balance will be:
$10,000 x 10.25% x (1/365) = $2.81 (Interest will also be calculated on Saturday, Sunday and public holiday.)

In order to save interest cost, we strongly encourage our customers to make settlement on time; any overdue settlement will be record for further reference. Accumulated interest will be debited from your account at the end of each month.

Margin Call (Applicable to Margin Account Clients)

qusetion 1. Under what circumstances will I receive a margin call?
answer

Customer would receive our margin call if stock marginable value falls below the amount borrowed.

For example:
Suppose you own a board lot of HSBC (approx. market value $48,000) and your account show a debit balance of $24,000. Under this situation, you will not receive any margin call since the margin ratio of HSBC is 50%. However, if the price of HSBC falls and its market value becomes $40,000, you will receive our margin call for $4,000 which is needed to settle the differences.

qusetion 2. Can I place any new buy order or withdraw cash when I have received a margin call?
answer

NO. Customer must fulfill their margin call requirement before making any new buy orders. Customer can only withdraw cash if credit balance is available, margin limit would not be able to cash out.

qusetion 3. When should I fulfill the margin call requirement?
answer

Customer must fulfill the margin level before the next trading day after receiving our margin calls (either by cash deposit, asset-backed stock deposit or sell out stocks in account). If customer fails to fulfill the margin call requirement, we reserve the rights to sell the proceeds without any prior notice.

qusetion 4. How can I look for the margin financing ratio of different stocks?
answer

All customers would receive the latest margin financing ration of stocks when they apply for a Margin Account. Customers may also make enquiries to our Securities Department or branches, or view the Stock Margin Table on our website.

qusetion 5. How to calculate the interest on Margin Account?
answer

For Margin Account, an interest rate of P+2.5% (annual rate) will be charged on your debit balance, weekends and public holidays are included in the calculation.

Example:
Assume the current prime rate is 5.25%, the daily interest of a $10,000 debit balance will be:
$10,000 x 7.75% x (1/365)= $2.12

Futures and Stock Options

qusetion 1. What are the charges when exercising/being exercised the Stock Option?
answer

Stock Option is settled by physical delivery of underlying shares. The transaction cost of exercising stock option includes normal securities trade and related trading fees (e.g. Stamp duty). All charges will be deducted from customer’s Stock Option Account and stocks will be settled in customer’s Stock Account.

qusetion 2. Can I withdraw the amount on the same day after liquidation (close position)?
answer

Future and option is settled in the next trading day, as a result fund can only withdraw in the next trading day after liquidation.

qusetion 3. How can I obtain the information about the margin requirement for future and option?
answer

Customer can obtain the information by browsing HKEX website or contact our Future Department at 2500 9128.

Please be reminded that the margin rates would be adjusted under large fluctuating circumstance. Customer has to watch out margin trading risks against market volatility.

Monthly Investment Plan

qusetion 1. How the Stock Monthly Investment Plan functions?
answer

After deducting the commission, stamp duty, transaction levy, HKEX trading fee and CCASS stock settlement fee, the net contribution amount will be used to purchase stocks on the 5th trading day of each month (Day of purchase) based on the prevailing market price at the time the stock is purchased.

  • Our company will purchase stocks from 11 am to 12:00 noon on the Day of purchase. Chief Securities Limited reserves the rights to amend the transaction time.
  • The stocks selected by clients will be purchased to the nearest units of stocks and the residual amount will be kept in the clients' securities account.
  • If the selected stocks are suspended by the HKEx during 11 am – 12:00 pm on the Day of purchase, the MIP for that month will be suspended and the contribution amount for that month will be returned to the securities account (no transaction fee will be charged). The plan will be resumed in the following month.
Payment method Direct Debit from securities account Autopay from bank account
Day of payment Before 8:30am of the 5th trading day of each month The 1st trading day of each month
Day of purchase The 5th transaction day of each month The 5th trading day of each month
Change of the contribution amount, choice of stock or termination of the plan Submit the Change of Service Form on or before 25th of each month. The amendment will be effective in the following month
  • No change or reduction of the amount: Submit the Change of Service Form on or before 25th of each month. The amendment will be effective in the following month
  • An increase of the contribution amount: Resubmit a Direct Debit Authorization Form. The adjustment will only be effective after completing all the procedures in the bank
Remarks
  • A sufficient amount has to be deposited into the securities account before 8:30a.m. of the day of payment
  • The plan will be suspended in that month without notice as a result of an insufficient amount in the securities account or rejection of the autopay from the bank. The plan will continue in the following month
  • The plan will be terminated without prior notice if the contribution could not be debited for 3 consecutive months. A new application is needed for rejoining the plan
qusetion 2. What is the promotional offer for applying the “Monthly Stocks Investment Plan”?
answer

Total Commission rebate* for 24 months# is offered to clients who apply the Stock Monthly Investment Plan on or before 31 Dec 2016. The commission is rebated immediately after buying stocks in each month. The offer is applicable to contributions on several stocks.

*   Clients who choose to receive daily and monthly statements by email can enjoy a rebate up to $40 for each stock per month (whole amount of the commission will be rebated if the monthly contribution of each stock is less than $32,000). Clients who receive daily or monthly statements by mail can enjoy a rebate up to $30 for each stock per month.

#   It is counted from the day of the first-time application.

qusetion 3. Is there a minimum investment period?
answer

There is no minimum investment period. Your chosen stocks will be purchased and deposited into your securities account on a monthly basis. You can sell the shares anytime to capture the profit or meet emergency needs after it has been settled. In addition, you will have the flexibility to suspend or stop your contribution when needed.

qusetion 4. How can I subscribe to “Monthly Stocks Investment Plan”?
answer

Only 3 Steps are required:

  1. Open a Chief securities account
  2. Fill in the “Stock Monthly Investment Plan” application form.
    1. Deposit the first month’s contribution if client choose to use the securities account for the monthly contributions.
    2. Submit the “Direct Debit Authorization Form” and deposit the contributions for the first 2 months and a one-off registration fee of HKD$50 if client choose to use bank autopay for the monthly contributions.

Kindly be noted that the registration fee is not refundable even after the autopay service is terminated.

qusetion 5. Does the “Monthly Stocks Investment Plan” require a minimum investment amount?
answer

The minimum investment amount for each stock is HKD $500 per month. Investment amount exceeding $500 will be in the multiples of HKD $500.

qusetion 6. How much does the “Monthly Stocks Investment Plan” charge for?
answer

0.125% of monthly contribution for each selected stock with a minimum charge of $38 (Exclusive of stamp duty, transaction levy, trading fee and CCASS fee).

qusetion 7. How can I check my securities purchase price and the number of shares purchased?
answer

You will receive a daily statement in the evening of the Day of purchase. The purchase price and the shares purchased will be listed on your statement.

qusetion 8. How does Chief handle my stock(s) purchased and residual investment amount?
answer

Your stock(s) and residual investment amount will be deposited into your securities account on the Day of purchase.

qusetion 9. How can I sell my stock(s) in the “Monthly Stocks Investment Plan”?
answer

You can login to your web trading platform or contact our Securities Trading Hotline 2500 9199 to sell your stock(s).

qusetion 10. Can I enjoy the dividend payments?
answer

You will enjoy the same shareholder's rights including dividend payments and bonus shares after joining "Monthly Stocks Investment Plan".

Global Securities

qusetion 1. What is the trading session of US Stock Market?
answer

The trading time of NYSE, AMEX and NASDAQ is shown on below, please be reminded that there is no lunch break in between:
Summer Time (April to October): HK Time 21 : 30 – 04 : 00
Winter Time (October to March): HK Time 22 : 30 – 05 : 00

qusetion 2. How to place U.S stock order?
answer

Customers can trade US stock through our Global Stock trading hotline 2500 9290 from (HK time) 8:30 p.m. to 5:30 a.m. Besides, Top Trader Professional and Top Trader Online version also support US stock trading. Customer can login to the trading platform by using HK stock user name and password.

(Mobile version does not support US stocks trading now.)

qusetion 3. What types of orders can be placed in US stock?
answer

Limit Order

Limit Order is an order to buy/sell a stock at a specific price or better. Buy limit order can only be executed at the limit price or lower while a sell order can only be executed at the limit price or higher.


Market Order

Market Order is an order to buy/sell a stock at the best available. This type of order will be executed immediately but the price executed is not guaranteed.


Good-till-cancelled Order

Good-till-order is an order allows customer to keep their buy/sell order in the system until the order is executed or being cancelled.


Stop Limit Order

Stop Limit Order is a condition trigger order. Once the market price of relevant stock hit the trigger price, order will convert into a Limit Order and will be sent to market with the specified price set in advance.


All-or-none Order

All-or-none Order is a limit order to buy/sell a stock with specifies shares. Order will only be executed entirety or automatically cancelled.

qusetion 4. Does U.S market have odd lot system? Is there any pricing restriction?
answer

There is no board lot size for U.S.stock, the minimum share that investor can trade is one share. No market suspension system on price level, so any price is possible.

qusetion 5. Is U.S settlement system the same as HK stock?
answer

No. The settlement for U.S. stock is trade date plus 3 U.S. business days (T+3). Customers must have sufficient fund in the A/C before placing order. To withdraw fund form U.S. stock A/C, customers can call the Funds Deposit and Withdrawal hotline 25009180.

qusetion 6. Can I use HK dollar to buy U.S stock?
answer

Customers can dial the Chief Securities Accounting Hotline at 25009180 during office hour to exchange HKD to USD for U.S. stock trading.

Note: Exchange rate is based on Chief announcement

Customer Services

qusetion 1. What is Chief Easy?
answer

Chief Easy is an online customer service system. Its function includes:

Subscribe eIPO* Customer can subscribe eIPO by simply choose the relevant IPO and enter the amount of shares on Chief Easy. It also allow customer to view their subscription history and eIPO subscripting status.
Check E-Statement Beside postage and email statement, customer can check up their transaction history in the last six months through Chief Easy. Service available on HK Stock, Stock Option and Futures and Option Account.
Request for password reset or regenerate Customer can request password reset or regenerate through Chief Easy. Service available on HK Stock, Stock Option, Futures and Option and US Stock Account.
Entitlement Customer can make choice for dividend election and make acceptance of right issues. It also allow customer to view their entitlement history.
Apply the Real-time Quoting service Customer can subscribe the Real-time Quoting service through Chief Easy. It also allow customer to view their application history.
Register for Seminar We hold seminars constantly in Head Quarter or branches; customer can obtain seminar information and register through Chief Easy. Successful registration will be confirmed by phone.
Verify Personal Information Customer can verify their personal information or apply email statement through Chief Easy.
Confirm the risk associate with derivatives products Customer can read and confirm the risk disclosure associate with derivatives.
Products CBBC, Warrants or ETF on Chief Easy in order to unblock the relevant trades.

*   Service is available for non-margin application.

qusetion 2. How to apply the Real-time Quoting service?
answer

Customer can subscribe the following Real-time Quoting service through our customer services hotline, Chief Easy or submit the “Request for Change of Account Information and Services” application form.

Vendor Monthly Charges (HK$)**
Vendor Version Monthly Charges (HK$)**
AAStock
QuoteWinner $368
AAStocks 2007 $638
AAStocks 2007 (China) $538
ETNET
- $368
ETNET (China) $238
Megahub
- $338
Megahub (China) $218
AFE
- $368
Qian Long Hong Kong Stocks (China)
Standard $218
Professional $428
TOP Trader Latest Quote
- Free

*   Request for subscription or termination of Online Real-time Price Quote Service should be made on or before 25th of each month.
**  Full month rate will be charged regardless of commencement date of service and will be debited from client's account at the beginning of each month.
*** If client fulfills the waiver terms, monthly fee charged will be credited to client's account at the beginning of next month (refund maximum is HK$368).

Real-time Price Quote Service's Deposit Arrangement:
Clients who apply for real-time quote will pay $500 as deposit. It will be refunded to your account when you cancel your subscription. Please be aware that your account should have adequate deposit for your subscription on 25th of each month. In order to prevent disruption in your subscription, our colleagues will contact you to remind your payment. The Company has the right to cancel your subscription if there is no sufficient fund on that day. The discrepancy will be deducted from your deposit. The amount remained will be deposited to your trading account.

Please be aware that we may not notify you prior to any changes in service. For enquiries, please contact our Customer Service Department at (852) 2500 9199.

qusetion 3. Is there any software required for the Real-time Quoting system or Top Trader trading platform?
answer

Software “Java” is needed for showing the Real-time Quoting system and the online trading platform; please visit “Download Area” on our website for Java downloading.

qusetion 4. Is trading online my only way for transaction if I opened an Online Trading Account?
answer

No, besides trading online, customer can also dial our trading hotline at 2500 9199 (Securities) and 2500 9128 (Futures and Options) for orders placing. Normal trade commission will be collected with phone orders. Customers are welcome to amend online order details or request quoting through our hotline for orders placed via Online Trading Platform.

Note: Commission of placing order online and phone called are counted separately.

qusetion 5. What are the computer system requirements of installing Top Trader?
answer

Microsoft Windows 2000 and Internet Explorer 7.0 or any above version are suggested for installation.

qusetion 6. Can I change my log-in user name?
answer

Only customers of using the top trader can change their login name. To change the login name, please select “setting” then “change A/C information”. Enter new login name then select “confirm”.

qusetion 7. How to change my password?
answer

Customer can change their password after log into the Online Trading Platform; please be reminded that password has to be an at least 8 digit combination with numbers and alphabets. In order to protect the interest of customer, change of password is suggested to be done regularly.

qusetion 8. What can I do if I forgot my password or failed to access the Online Trading Platform?
answer

Customer who forgot their login password can request a new login by informing us through Chief Easy, contacting our Customer Services Hotline at 2500 9199 or emailing us through cs@chiefgroup.com. New password can be sent through email or by post. Meanwhile, customers are welcome to place their order through our Securities or Futures and Option Hotline.

qusetion 9. How can I express my opinion?
answer

If you have any enquiries or suggestion to Chief, please contact our Customer Service Hotline at 2500 9199 or email us to cs@chiefgroup.com.hk


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