WikiFX

Reply

In my experience assessing brokers, understanding the full fee structure is crucial for managing costs and making informed decisions. At Midas Securities, commissions and related charges are relatively transparent but can be a bit intricate for those less familiar with Hong Kong market practices. For equities, online trading commissions can reach up to 0.08% per trade (with a minimum of HK$50), while phone orders are more expensive, up to 0.15% (minimum HK$68). These rates are in line with traditional Hong Kong brokers, though beginners should take care to always calculate the minimums, as they can notably impact smaller trades. Beyond basic commissions, Midas Securities applies various statutory levies and fees. Stamp duty is 0.13%, and there are added costs such as a transaction levy, trading fee, and a central clearing fee—altogether these ancillary charges, though small individually, do add up over multiple trades and can erode profit margins if overlooked. I noticed there’s no specific mention of spreads in Midas Securities’ information, which makes sense as they function more as a securities broker for Hong Kong-listed instruments rather than a classic CFD or forex provider where spreads are a main cost. Instead, most charges are commission and fee-based, not embedded in price spreads. Other agent service fees—like rights subscriptions, share transfers, and dividend collection—follow a fixed or percentage-based schedule, with caps and minimums that are important to check in advance. Deposits incur typical bank transfer fees, while withdrawals are primarily handled by cheque, a method that overseas traders especially should consider carefully due to possible costs or delays. My perspective is that while Midas Securities’ fee structure is generally standard for Hong Kong, every prospective client needs to carefully review the updated official documentation and keep in mind the cumulative impact of seemingly minor charges, as well as the nuances of trading in a fee-heavy, regulated market.