Cornerstone Securities Limited (CE No.: BGK635) is licensed by the Securities and Futures Commission of Hong Kong to carry out Type 1 (dealing in securities) & Type 4 (advising on securities), regulated activities and is a Hong Kong Exchange Participant and (“HKEX”) Trading Right Holder (Broker number: 7283).
Cornerstone Securities Information
Cornerstone Securities is a financial services provider known for its competitive fee structure, charging a commission from 0.25% with a minimum of HK$100, making it an affordable choice for various investors.
The company offers a user-friendly trading experience through both its online platform and mobile app, meeting clients who prefer digital accessibility.
However, a potential drawback is the lack of promotional offers, which might limit its appeal to new customers looking for initial incentives.
Pros & Cons
Pros:
Cornerstone Securities offers a diverse array of tradable securities, including stocks, bonds, ETFs, and more, providing a wide range of investment options to its clients. It is regulated by the Securities and Futures Commission (SFC), ensuring a level of trust and compliance. Additionally, the company offers a unique trading platform, Joy Rich, which is available in both online and mobile versions, meeting the needs of tech-savvy investors.
Cons:
One of the main disadvantages of using Cornerstone Securities is the high commission fees, with a minimum charge of HK$100, which might be costly for frequent traders or those dealing with smaller amounts. Another limitation is the sole deposit method via bank transfer, which can be inconvenient for clients who prefer more varied deposit options.
Is Cornerstone Securities Safe？
Regulations:
Cornerstone Securities is regulated by the Securities and Futures Commission of Hong Kong (SFC), which is an independent statutory body responsible for overseeing the securities and futures markets in Hong Kong.
The SFC ensures that financial markets operate with transparency and integrity, providing investors with a level of protection. Cornerstone Securities holds a valid SFC license (No. BGK635), affirming its compliance with local regulatory requirements.
Funds Safety:
The safety of funds at Cornerstone Securities is a significant consideration, given the firm's compliance with the stringent regulations of the Securities and Futures Commission (SFC) of Hong Kong.
The SFC's oversight ensures that Cornerstone Securities adheres to strict operational standards, which typically includes measures to protect client funds. However, the specific details regarding whether client funds are insured or the extent of such insurance coverage are not explicitly stated in the provided information.
Clients are advised to directly contact Cornerstone Securities for detailed information on how their funds are protected, including whether they are held in segregated accounts, which is a common practice under SFC regulations to enhance the safety of client assets.
Safety Measures:
Cornerstone Securities appears to take measures to protect client data and secure funds. The use of encryption technologies and secure internet protocols likely helps safeguard the storage and transmission of sensitive financial information.
Additionally, the privacy policy outlines data handling procedures to prevent unauthorized access and data leakage, ensuring a robust security framework for client information and transactions. However, as with any online platform, users are advised to use secure connections and follow best practices in cybersecurity to enhance their safety further.
What are securities to trade with Cornerstone Securities？
At Cornerstone Securities Limited (CSL), clients have access to a wide range of securities for trading.
Stocks:
CSL allows clients to trade a wide range of stocks, providing access to primary equity markets. This includes the ability to buy and sell shares of publicly traded companies, offering opportunities for capital growth and dividend income. Stocks are a fundamental component of most investment portfolios and can vary widely in terms of industry, market capitalization, and risk level.
Bonds:
Clients at CSL can invest in various bonds, which are debt securities issued by governments, municipalities, or corporations to finance projects or operations. Bonds typically offer regular interest payments and are considered a lower-risk investment compared to stocks. They are an excellent choice for income-focused investors.
Exchange-Traded Funds (ETFs):
CSL offers trading in ETFs, which are investment funds traded on stock exchanges, much like stocks. ETFs hold assets such as stocks, commodities, or bonds and generally operate with an arbitrage mechanism designed to keep trading close to its net asset value, though deviations can occasionally occur.
Options and Derivatives:
For more sophisticated investors, CSL provides the opportunity to trade options and other derivatives. These financial instruments derive their value from the performance of an underlying asset, such as stocks or bonds, and offer ways to hedge, speculate or increase leverage in a portfolio.
Mutual Funds:
Investors at CSL can also choose to invest in mutual funds, which pool money from many investors to purchase a diversified portfolio of stocks, bonds, or other securities. Mutual funds are managed by professional money managers and are an effective way to gain diversified exposure to the financial markets without having to manage the portfolio oneself.
Cornerstone Securities Fee Review
The fee structure at Cornerstone Securities Limited (CSL) encompasses various charges related to securities trading, service charges, interest rates, CCASS depository services, nominee services and corporate actions, as well as IPO application and other service charges. Here is a detailed breakdown:
1. General Transactions Charge:
Basic Commission: 0.25% of the gross amount or a minimum of HK$100 per transaction.
Stamp Duty: 0.10% of the gross amount, rounded up to the nearest dollar.
SFC Transaction Levy: 0.0027% on the gross amount.
HKEx Trading Fee: 0.00565% on the gross amount.
CCASS Settlement Fee: 0.002% on the gross amount, with a minimum of HK$5 and a maximum of HK$200.
AFRC Levy: 0.00015% on the gross amount, rounded up to the nearest cent.
2. Service Charges:
3. Interest Rates and Fees for Late Settlements:
Charges on Late Settlement of Share Transactions: Late payments incur a penalty of 1% plus interest charges on the outstanding amount calculated from the settlement date at the rate of ICBC (Asia) Prime Rate + 3% per annum.
Handling Fee on Forced Liquidation: HK$500 per case plus 1% on the liquidated amount.
4. CCASS Depository Services:
Physical Stock Deposit: Free, except a HK$5 fee for each transfer deed.
Physical Stock Withdrawal: HK$5 per board lot, with a minimum of HK$100.
Stock Deposit/Withdrawal Fee via CCASS: Free for deposits; 0.05% on gross amount for withdrawals, with a minimum of HK$50 and a maximum of HK$500.
5. Nominee Services and Corporate Actions:
Custody Fee: Waived.
Scrip Fee: HK$2 per board lot for scripless shares and HK$2.5 per certificate for physical scrip.
Dividend Collection Fee: 0.5% of the cash dividend collected, with a minimum charge of HK$30 or RMB30.
Bonus Share/Warrant/Rights Collection Fee: Waived for warrants/rights, HK$1 or RMB1 per board lot for bonus shares, with a minimum of HK$30/RMB30 and a maximum of HK$500/RMB500.
6. IPO Application & Other Service Charges:
IPO Application: HK$100 handling charge for both non-financed and financed applications.
Telegraph Transfer (T/T) and CHATS: HK$150 plus actual bank charges.
Cheque-related Charges: HK$300 for returned cheque, stop payment, and cheque mark good.
7. Bonds:
Safe Custody: Charged at 0.05% per annum on the total nominal value of the bond holdings, billed semi-annually with a maximum of HKD2,500 per half-year.
Scripless and DvP Transfer Fees: USD50 for scripless transfers out, and USD70 per transaction for Delivery versus Payment transfers.
| Category |
Fee Type |
Charge |
Remarks |
| General Transactions Charge |
Basic Commission |
0.25% of gross amount or min HK$100 |
Each trade settled in the stocks trading currency designated by HKEx. |
|
Stamp Duty |
0.10% of gross amount (rounded up) |
|
|
SFC Transaction Levy |
0.0027% of gross amount |
|
|
HKEx Trading Fee |
0.00565% of gross amount |
|
|
CCASS Settlement Fee |
0.002% of gross amount (Min: HK$5/Max: HK$200) |
|
|
AFRC Levy |
0.00015% of gross amount (rounded up) |
|
| Service Charges |
Daily Contract Note/Statement by Post |
Free |
|
|
Daily Contract Note/Statement by Email |
Free |
|
|
Copies of Account Statement (within a year) |
HK$50 per duplicate copy |
|
|
Copies of Account Statement (over a year) |
HK$200 per duplicate copy |
|
| Interest Rate |
Charges on Late Settlement |
Cash client bought transaction: Late payment is subject to 1% penalty charge + interest charges on the net outstanding due amount for the overdue period (from the settlement date) |
ICBC (ASIA) Prime Rate + 3% p.a. |
|
Handling Fee on Forced Liquidation |
HK$500 per case + 1% on liquidated amount |
|
|
Margin Client |
ICBC (ASIA) Prime Rate + 3% p.a. |
|
| CCASS Depository Services |
Physical Stock Deposit |
Free (HK$5 for each Transfer Deed) |
|
|
Physical Stock Withdrawal |
HK$5 per board lot (Min: HK$100) |
|
|
Stock Deposit Fee SI & ISI (via CCASS) |
Free |
|
|
Stock Withdrawal Fee SI & ISI (via CCASS) |
0.05% on gross amount (Min: HK$50 Max: HK$500 per stock withdrawal) |
|
|
Express Physical Stock Re-registration |
HK$200 per stock |
|
|
Compulsory Buy-back |
HK$300 per transaction + CCASS default fees |
|
| Nominee Services and Corporate Actions |
Custody Fee |
Waived |
|
|
Scrip Fee (Scripless) |
HK$2 per board lot |
Applicable to shares held under HKSCC Nominees before book-close date. |
|
Scrip Fee (Physical Scrip) |
HK$2.5 per certificate |
Applicable to shares held under our Nominee Company before book-close date. |
|
Cash/Scrip Dividend Collection Fee |
0.5% of cash dividend collected (Min: HK$30RMB30) |
Fees charged based on the denominated currency of the relevant stock. |
|
Bonus Share Collection Fee |
HK$1 RMB1 per board lot (Min: HK$30/RMB30, Max: HK$500/RMB500) |
|
|
Bonus Warrant/Rights Collection Fee |
Waived |
|
|
Physical Stock Registration Fee |
HK$2.5 per certificate + HK$100 handling fee |
|
|
Rights/Warrant/Subscriptions/Warrant Conversion |
HK$1 RMB1 per board lot (Min: HK$30RMB30) |
|
|
Handling Fee - Callable Bull/Bear Contract |
HK$1.8 RMB1.8 per board lot (Min: HK$30RMB30) |
|
|
Dividend Claim/Bonus Shares |
1% on gross offer amount (Min: HK$500RMB500) + CCASS charges |
|
|
Cash/Open Offer Charges |
0.25% on gross offer amount (Min: HK$100RMB100) |
|
|
Special/Conditional Offer Charges |
0.25% on gross offer amount (Min: HK$100RMB100) |
|
| IPO Application & Other Service Charges |
IPO Application (Non-financing) |
HK$100 handling charge |
Currency of this fee varies with the trading currency of the stock. |
|
IPO Application (Through financing) |
HK$100 handling charge (Plus interest) |
|
|
Telegraph Transfer (T/T) |
HK$150 + actual bank charge |
|
|
CHATS |
HK$150 + actual bank charge |
|
|
Returned Cheque Charge |
HK$300 per case |
|
|
Stop Payment Charge |
HK$300 per case |
|
|
Cheque Mark Good |
HK$250 per case |
|
|
Account Balance Confirmation Certificate Letter |
HK$100 per certificate per account |
|
Cornerstone Securities Trading Platform Review
Cornerstone Securities Limited provides a mobile trading app designed for both iPhone and Android users. It features a user-friendly interface with easy navigation and enhanced account management tools.
The app delivers improved performance with faster speeds and shorter response times, allowing users to efficiently manage and execute trades.
For security, it recommends using personal devices, enabling auto-lock and password protection, and updating operating systems regularly.
The app can be downloaded from official app stores, ensuring secure installation. Additionally, the Ayers Token app is available for enhanced login security with a one-time password feature.
Research & Education
The Ayers Token User Guide provided by Cornerstone Securities Limited can indeed be considered an educational resource.
It helps clients understand how to securely access and manage their trading accounts using two-factor authentication. This guide not only enhances user knowledge about digital security but also ensures they are equipped to protect their financial transactions effectively.
Security Practices: It educates users on the importance of secure logins and the role of two-factor authentication in enhancing account security.
Technical Instructions: Provides step-by-step instructions for downloading, installing, and activating the Ayers Token App, which helps clients navigate the technology involved in secure trading practices.
Troubleshooting Guidance: The guide includes tips on what to do if a client changes their mobile device or if there are issues with their registered email address, thus preparing them to handle common issues that might arise.
Operational Training: By detailing the registration and login processes, the guide trains users on operating within the trading platform securely and efficiently.
Customer Service
Cornerstone Securities Limited offers customer support from their office located at Room 802, 8/F, Lee Garden Five, 18 Hysan Avenue, Causeway Bay, Hong Kong.
Clients can reach out to the support team during office hours from Monday to Friday, 9:00 AM to 6:00 PM, with the office being closed on Saturdays, Sundays, and public holidays.
For assistance, clients can contact the company via telephone at (852) 2161 2988 or fax at (852) 2161 2901. Additionally, inquiries can be directed to the email address cs@cslsec.com, ensuring a variety of channels through which clients can seek support or information.
Conclusion
Cornerstone Securities Limited (CSL) is a Hong Kong-based brokerage firm that provides a suite of trading services and security solutions. It offers a user-friendly mobile trading app, robust customer support, and employs strict security measures like two-factor authentication via the Ayers Token App.
CSL meets a variety of investor needs with its accessible trading platforms and dedicated customer service, making it a reliable option for both new and experienced traders.
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