BMI

BMI
WikiStock Rating	⭐⭐⭐
Account Minimum	N/A
Trading Fees	Commission rates (0.15% - 0.25%)Trading Fee: 0.00565% on gross value of transactionSettlement Fee: 0.005% on gross value of transaction
Account Related Fees	CCASS Segregate Account Monthly Charge: HK$ 30.00 per month, Handling for account opening HK$100.00 per request
Interests on Uninvested Cash	Unavailable
Margin Interest Rates	N/A
Mutual Funds Offered	No
App/Platform	H5 online trading platform available; limited mobile functionality via Android app for token authentication
Promotion	N/A

BMI Information

　　Founded in 1995 in Hong Kong, BMI offers a robust platform for securities trading regulated by the Securities and Futures Commission (SFC). They specialize in Hong Kong stocks and provide competitive commission rates typically ranging from 0.15% to 0.25%. Located in China Hong Kong, BMI ensures secure transactions with established security protocols. However, BMI lacks a dedicated mobile trading app, offering only limited mobile functionality via an Android version for token authentication.

Pros and Cons

　　BMI offers competitive commission rates, typically ranging from 0.15% to 0.25%, making it appealing to cost-conscious investors seeking efficient trading options. The brokerage is regulated by the Securities and Futures Commission (SFC), ensuring adherence to established industry standards and providing investors with a level of regulatory oversight and security. BMI also maintains robust security protocols, enhancing the safety of transactions and personal data, which is crucial in today's digital landscape. Additionally, the availability of various research reports supports informed decision-making, providing insights into market trends and specific stocks.

　　One notable drawback of BMI is the absence of a dedicated mobile trading app, limiting the convenience and flexibility for investors who prefer to trade on-the-go. While an Android version is available for token authentication, its functionality for actual trading purposes is restricted. Another consideration is BMI's focus on a limited range of tradable securities, primarily centered around Hong Kong stocks.

Is BMI Safe？

• 　　Regulations:

　　In the context of securities trading, BMI regulation involves obtaining a securities license from the Securities and Futures Commission (SFC). The license type required is specific to securities trading, governed by regulatory frameworks outlined by the SFC. Each license is issued with a unique License No., such as AWF485, to signify compliance with regulatory standards set by the commission.



• 　　Funds Safety:

　　BMI Securities does not provide insurance coverage for customer account balances.

• 　　Safety Measures:

　　BMI employs robust security measures to safeguard user transactions and personal information. These include encryption protocols to protect data transmission, secure login processes, and strict authentication procedures for accessing accounts. They adhere to industry standards for cybersecurity and maintain vigilance against potential threats through regular audits and updates to their systems.

What are Securities to Trade with BMI？

　　BMI offers a range of tradable securities on the Stock Exchange of Hong Kong. Tradable Securities include stocks, warrants, and callable bull/bear contracts. These investment products enable investors to participate in various aspects of the Hong Kong stock market.

　　Stocks represent ownership in companies, warrants offer the right to buy underlying securities at a predetermined price, and callable bull/bear contracts allow speculation on market direction with leverage.



BMI Fees Review

• 　　Commissions and Fees

　　Equities Trading:

　　BMI charges a commission based on the gross value of transactions. For electronic trading services, the commission is 0.25% with a minimum charge of HK$100.00 per transaction. Alternatively, there is an option for a lower commission rate of 0.15% with a minimum of HK$50.00 per transaction.

　　Trade-related Services:

• 　　Transaction Levy: 0.0027% on gross value of transaction.

• 　　Trading Fee: 0.00565% on gross value of transaction.

• 　　Settlement Fee: 0.005% on gross value of transaction, subject to a minimum fee of HK$2.00.

• 　　Stamp Duty: 0.13% on gross value of transaction (round up to the nearest HK$1.00).

• 　　FRC Transaction Levy: 0.00015% on gross value of transaction.

• 　　Italian Financial Transaction Tax: 0.20% on gross value of transaction.

　　Scrip Handling and Settlement Related Services:

• 　　Transfer Deed Stamp Duty: HK$5.00 per deed.

• 　　CCASS Fee: HK$3.50 per lot for share certificate handling charge.

• 　　Handling Fee: HK$1.50 per lot (minimum HK$200.00).

• 　　CCASS SI/ISI Settlement Fee: 0.01% on gross value of transaction, subject to a minimum fee of HK$2.00.

• 　　Compulsory Share Buy-back (CCASS Default Fee): 0.25% on gross value of transaction.

　　Account Maintenance:

• 　　Reproducing of Statement: HK$10.00 per copy (waived for electronic copy within 3 months), HK$100.00 per copy for statements beyond 6 months.

• 　　Confirmation of Securities or Account Balance: HK$150.00.

• 　　CCASS Segregate Account Monthly Charge: HK$30.00 per month, HK$100.00 for account opening handling.

　　Nominee Services and Corporate Actions:

• 　　CCASS Corporate Action Charge: HK$0.80 per board lot.

• 　　Handling Charge: HK$60.00 per order (maximum HK$500.00).

• 　　CCASS Dividend Levy: 0.12% of dividend amount.

• 　　Handling Charge for Cash Dividend: 0.50% on dividend amount (minimum HK$10.00).

• 　　Handling Charge for Stock Dividend: HK$1.50 per board lot.

• 　　Handling Charge for Retrace Dividend from CCASS: HK$200.00 per claim, HK$200.00 per order.

　　Other Services:

• 　　Handling Charge for IPO Subscription: HK$100.00 per application for IPO financing service, HK$30.00 per application for IPO cash subscription.

• 　　Penalty for Returned Cheque: HK$100.00.

• 　　Local Remittance (CHATS): HK$100.00 per order.

• 　　Overseas Remittance (T.T.): HK$100.00 plus bank charges.

• 　　Inactive Account Trading Platform Fee: HK$50.00 monthly.

• 　　AASTOCKS Streaming Real Time Stock Quote: HK$388 monthly.

• 　　US Person - FATCA Annual Administration Fee: HK$12,000.00 per account yearly.

　　BMI's commission rates for equities trading vary from 0.15% to 0.25%, which generally fall within the average range compared to other brokers. The lower commission option of 0.15% is more competitive, particularly for larger transactions, while the higher rate of 0.25% is on par with standard industry practices.

Service	Particulars	Charges
Trade-related Services	Commission - Electronic Trading Services	0.25% on gross value of transactionMinimum HK$100.00 per transaction0.15% on gross value of transactionMinimum HK$50.00 per transaction
	Transaction Levy	0.0027% on gross value of transaction
	Trading Fee	0.00565% on gross value of transaction
	Settlement Fee	0.005% on gross value of transaction
		Minimum fee of HK$2.00
	Stamp Duty	0.13% on gross value of transaction
	FRC Transaction Levy	0.00015% on gross value of transaction
	Italian Financial Transaction Tax	0.20% on gross value of transaction
Scrip Handling and Settlement Related Services	Transfer Deed Stamp Duty	HK$5.00 per deed
	CCASS Fee	HK$3.50 per lot
	Handling Fee	HK$1.50 per lot (minimum HK$200.00)
	CCASS SI/ISI Settlement Fee	0.01% on gross value of transactionMinimum fee of HK$2.00
	Compulsory Share Buy-back (CCASS Default Fee)	0.25% on gross value of transaction
Account Maintenance	Reproducing of Statement	HK$10.00 per copy (waived for electronic copy within 3 months)
		HK$100.00 per copy for statements beyond 6 months
	Confirmation of Securities or Account Balance	HK$150.00
	CCASS Segregate Account Monthly Charge	HK$ 30.00 per month(Handling for account opening HK$100.00 per request)
Nominee Services and Corporate Actions	CCASS Corporate Action Charge	HK$0.80 per board lot
	Handling Charge	HK$60.00 per order (maximum HK$500.00)
	CCASS Dividend Levy	0.12% of dividend amount
	Handling Charge for Cash Dividend	0.50% on dividend amount (minimum HK$10.00)
	Handling Charge for Stock Dividend	HK$1.50 per board lot
	Handling Charge for Retrace Dividend from CCASS	HK$200.00 per claimHK$200.00 per order



BMI Trading platform Review

　　BMI provides the H5 online trading platform for securities trading.

　　This platform is accessible through web browsers and facilitates various trading activities. Investors can log in securely and navigate through market data, including real-time quotes and historical performance. The platform supports buying and selling of stocks, ensuring users have sufficient funds or holdings for transactions. It features a user-friendly interface for order placement and provides confirmation screens to verify trade details before execution.

　　While BMI does not offer a dedicated mobile trading platform, an Android version is available for token authentication, enhancing security measures during online transactions.



Research & Education

　　BMI provides educational resources and research reports to assist investors, including market analysis, stock research, and video content.

　　Their stock research reports cover various companies, offering insights into new share placements, company analyses, and market trends.



Customer Service

　　BMI offers accessible customer support through multiple channels.

　　Customers can reach them via phone at (852) 3575 1300. For inquiries outside these hours, they can send an email to enquiry@bmisonline.com.

　　BMI's customer service is based at Suite 01-08, 27/F., Shui On Centre, 6-8 Harbour Road, Wanchai, Hong Kong, ensuring direct access for clients seeking assistance or information related to their services.



Conclusion

　　In conclusion, BMI offers a competitive platform for securities trading, especially appealing to investors focused on Hong Kong stocks due to its specialized offerings and regulated status under the Securities and Futures Commission (SFC). With a user-friendly H5 online trading platform and competitive commission rates, BMI serves well to traders seeking efficient and secure transactions.

　　However, the platform's limited mobile functionality and absence of mutual funds impact its appeal to more diversified investors or those requiring extensive mobile trading capabilities.

FAQs

• 　　Is it safe to trade on BMI？

• 　　BMI is regulated by the Securities and Futures Commission (SFC), ensuring adherence to strict regulatory standards that prioritize the security and protection of investors' funds and personal information.

• 　　Is BMI a good platform for beginners？

• 　　BMI provides a user-friendly H5 online trading platform, making it accessible for beginners. However, the limited mobile functionality may be a consideration for those preferring more versatile trading options.

• 　　Is BMI a legit platform？

• 　　Yes, BMI is a legitimate brokerage firm founded in 1995 in Hong Kong. It operates under the regulatory oversight of the Securities and Futures Commission (SFC), ensuring compliance with industry standards and regulations.

• 　　Is BMI good for investing or retirement？

• 　　BMI offers competitive commission rates and a range of tradable securities, particularly focusing on Hong Kong stocks. While it lacks options like mutual funds, it can be suitable for investors interested in trading stocks for investment purposes, though retirees may seek broader investment options.

Risk Warning

　　The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.