We are a securities brokerage company licensed by the Securities and Futures Commission in Hong Kong to carry on Type 1 Dealing in Securities regulated activities (CE No.: BIU 720) and are also an Exchange Participant of The Stock Exchange of Hong Kong Limited (Broker No.:0629).
Poly Wealth Securities Information
Poly Wealth Securities is a Hong Kong-based securities brokerage firm offering stock and options trading services. It provides access to its services via telephone, internet, and mobile devices, using the ET Trade Speed Station platform. The company charges a brokerage commission rate of 0.25% for options trading. Despite its participation in The Stock Exchange of Hong Kong Limited, Poly Wealth's license with the Securities and Futures Commission (SFC) has been revoked.
Pros & Cons of Poly Wealth Securities
Pros:
Market News: Poly Wealth Securities provides clients with up-to-date market news, including stock quotes, ETNet News, top 20 stocks, and global indices, aiding in informed decision-making.
Range of Services: Poly Wealth Securities offers stock and options trading services, catering to both individual and corporate investors.
Cons:
Revoked SFC License: Poly Wealth Securities' license with the Securities and Futures Commission (SFC) has been revoked, indicating potential issues with regulatory compliance and operational reliability.
Website Issues: The firm's website has technical issues, with some content currently inaccessible, which may hinder clients' ability to obtain information and services online.
Lack of Transparency: Critical details such as account minimums, margin interest rates, and fees related to mutual funds and uninvested cash are not publicly disclosed, impacting transparency.
Is Poly Wealth Securities Safe？
The status of Poly Wealth Securities' safety is uncertain due to its revoked license (No.BIU720) with the Securities and Futures Commission (SFC) of Hong Kong. This action indicates issues with the firm's compliance and operational reliability.
Additionally, the company's website has technical issues. This makes it difficult to trust the information they provide about their services, fees, and overall functionality.
Poly Wealth Securities Fees Review
Poly Wealth Securities offers a range of fees structured around their trading and account services. For trading, they charge a brokerage commission of 0.25% on the transaction amount, providing access to both stock and options trading. Their online trading commission stands at 0.20%, making their rates competitive within the industry. Additionally, a settlement instruction fee of 0.1% applies to withdrawals, ensuring clarity in transaction-related costs.
In terms of account management, Poly Wealth Securities imposes a custody fee of HK$0.012 per board lot per month. This fee is waived if the market value of securities held in the account falls below HK$300,000. For administrative purposes, the firm charges HK$100 for each duplicate statement copy requested by clients. Furthermore, a dormant account fee of HK$100 per annum applies to accounts without any transactions or fund/stock transfers for one year or more, incentivizing active account management.
To get full information about the fee structure, you can download the General Services Fees & Transaction Charges table from the website: http://www.polywealthsec.com.hk/content.asp？pageid=3.
Poly Wealth Securities App Review
Poly Wealth Securities provides the ET Trade Speed Station as its online trading platform. In addition to the web-based platform, the company offers a mobile app designed to enhance accessibility and convenience for users. The mobile app is available for download on both the App Store for iOS devices and the Google Play Store for Android devices. This allows users to stay connected to the markets and manage their investments efficiently from their smartphones or tablets, regardless of their location.
Customer Service
Poly Wealth Securities can be contacted through various channels, including phone and email.
By dialing +852 2168 7188, you can directly reach the firm's representatives for assistance with inquiries, account management, or any other trading-related matters. Alternatively, you can also email their queries to info@polywealthsec.com.hk. For those preferring face-to-face interaction, Poly Wealth Securities' office is located at Room 2401A, 24/F, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong.
Conclusion
Poly Wealth Securities offers stock and options trading. It provides access through the ET Trade Speed Station platform and a mobile app. However, a critical issue exists: their license with the Securities and Futures Commission (SFC) of Hong Kong is revoked. This indicates serious questions about their legitimacy and the safety of your investments. For your safety, please research carefully before trading with it.
Frequently Asked Questions (FAQs)
Is Poly Wealth Securities a safe brokerage firm？
No, the safety of Poly Wealth Securities is uncertain due to its revoked license with the Securities and Futures Commission (SFC) of Hong Kong.
What trading platform does Poly Wealth Securities offer？
Poly Wealth Securities offers the ET Trade Speed Station as its trading platform. It also provides a mobile app.
What fees does Poly Wealth Securities mainly charge？
Poly Wealth Securities mainly charges brokerage commissions (0.25%), online trading commissions (0.20%), settlement instruction fees for withdrawals (0.1%), custody fees (HK$0.012 per board lot per month, waived if market value < HK$300,000), duplicate statement copy fees (HK$100), and dormant account fees (HK$100 per annum).
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.
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