Elstone Holdings Limited is a financial and securities service provider in Hong Kong. With the Group’s integrated platform, it can provide a range of financial and securities services: (i) corporate finance advisory services; (ii) placing and underwriting services; (iii) securities dealing and brokerage services; (iv) securities financing services; and asset management services.
Overview of Elstone
Elstone, established in China Hong Kong 2-5 years ago, offers a range of Tradable Securities and Services including stocks, bonds, ETFs, mutual funds, IPO subscriptions, and fund management.
Commissions and fees include a 0.25% brokerage fee with a minimum of HK$100.00, higher than some competitors. Regulated by the SFC, Elstone provides regulatory assurance but faces limitations such as higher fees and a lack of educational resources.
However, its wide range of tradable assets and accessible customer support contribute to a positive user experience.
Regulatory Status
Elstone holds three securities licenses issued by the Securities and Futures Commission (SFC).
These licenses include a Securities Trading License with the identification number ACX624, a Fund Management License with the identification number BQE227, and an Investment Consulting License. All licenses are regulated by the SFC, ensuring compliance with regulatory standards and guidelines in the securities industry.
Pros and Cons
Pros:
Regulated by the SFC: Elstone's regulation by the Securities and Futures Commission (SFC) ensures compliance with regulatory standards, providing clients with a level of trust and confidence in the platform's operations.
Offers Online Trading Platform: Elstone's online trading platform enables clients to access their accounts and execute trades conveniently from any internet-enabled device.
Accessible via Telephone, Fax, and Email: Elstone's multiple communication channels, including telephone, fax, and email, offer clients various options to reach out for assistance or inquiries.
Research Reports Available: Elstone provides research reports to clients, offering valuable insights into market trends and investment opportunities.
Various Tradable Assets: Elstone offers a wide range of tradable assets including stocks, ETFs, and Mutual Funds, providing clients with options to diversify their investment portfolios according to their risk tolerance and investment objectives.
Cons:
Limited Educational Resources: Elstone's educational resources are primarily limited to research reports, which are not suffice for clients seeking comprehensive educational materials to enhance their understanding of financial markets and investment strategies.
Higher Brokerage Fees: Elstone imposes higher brokerage fees compared to some competitors, with commissions set at 0.25% of the transaction amount.
Limited Trading Tools and Features: Elstone's trading platform lacks some advanced trading tools and features compared to other platforms, potentially limiting clients' ability to conduct in-depth market analysis and execute complex trading strategies.
Lacks Market Analysis Tools: Elstone's platform lacks market analysis tools, which could restrict clients' ability to perform comprehensive market research and analysis.
No Mobile Trading App: The absence of a mobile trading app limits the platform's accessibility and flexibility, potentially resulting in a less optimal user experience for clients who rely on mobile devices for trading activities.
Tradable Securities and Services
Securities
Elstone Securities Limited offers a range of services in the realm of securities trading and financing. As an Exchange Participant of The Stock Exchange of Hong Kong Limited and a Licensed Corporation under the Securities and Futures Commission, Elstone facilitates various transactions in compliance with regulatory standards. Its services encompass cash trading and margin trading of securities, enabling clients to engage in various investment strategies.
Additionally, Elstone facilitates IPO subscription and financing, providing opportunities for investors to participate in initial public offerings.
Corporate Finance
Elstone Capital Limited specializes in corporate finance advisory services, leveraging its license to conduct Type 6 regulated activities under the Securities and Futures Ordinance. With a focus on IPO sponsorship, corporate finance advisory, and business consultation, Elstone Capital Limited assists clients in navigating complex financial landscapes and achieving their strategic objectives.
Asset Management Service
Quester Capital Asset Management Limited, a licensed corporation under the Hong Kong Securities and Futures Commission, offers professional investment advisory and asset management services. With expertise in Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities, Quester Capital Asset Management Limited tailors financial solutions to meet the various needs of professional investors.
Commissions and Fees
Firstly, the brokerage fee amounts to 0.25% of the transaction amount, with a minimum charge of HK$100.00. Stamp duty is also levied at a rate of 0.1% of the transaction amount, rounded up to the nearest dollar. Moreover, clients are subject to a transaction levy of 0.0027% imposed by the Securities and Futures Commission, along with a trading fee of 0.00565% for trades executed on the Stock Exchange of Hong Kong. Additionally, a fee of 0.005% of the transaction amount is charged for stock settlements through the Central Clearing and Settlement System, with minimum and maximum caps in place.
In terms of other fees and charges, Elstone imposes collection fees for dividends and scrip dividends, amounting to 0.5% of the total dividend amount, with minimum and maximum caps depending on the currency. Scrip fees are also applicable, set at HK$2.5 per lot for registration and transfer registration of scrip dividends. For bonus collections, a handling charge of HK$30.00 is applied, along with the same scrip fee per lot as for dividends.
When considering the fee structure in comparison to popular discount brokers, Elstone's fees, particularly brokerage fees and minimum charges, appear relatively higher.
Account Types
Elstone offers two primary types of accounts: Individual/Joint Accounts and Corporate Accounts.
Individual and Joint Accounts serve individual investors or multiple individuals who wish to engage in securities trading and investment activities. These accounts are suitable for retail investors, allowing them to manage their personal portfolios, execute trades, and access various investment products offered by Elstone.
On the other hand, Corporate Accounts are tailored to meet the needs of corporate entities, businesses, or organizations that seek to manage their financial assets and conduct investment activities. Corporate Accounts provide companies with the opportunity to execute trades, manage corporate funds, and engage in strategic investment decisions under the regulatory framework provided by Elstone.
Platforms & Tools
Elstone offers an online web trader as its trading platform, providing clients with a digital interface to execute trades and manage their investment portfolios. The web trader allows users to access their accounts and perform trading activities conveniently from any internet-enabled device without the need for additional software downloads or installations.
Deposit & Withdrawal
Elstone facilitates payments exclusively through bank transfers.
Elstone charges a Transfer Deed Stamp Duty fee of HK$5.00 per transfer deed for physical stock deposits, ensuring compliance and covering administrative costs. There is no deposition fee, offering a cost-effective option for transferring securities into accounts.
For stock withdrawals conducted through physical means, a handling charge of HK$100.00 is applicable. Additionally, withdrawal charges amount to HK$5.00 per lot of stock withdrawn.
Customer Service
Elstone offers comprehensive customer support services accessible via telephone, fax, and email.
Clients can reach out to the support team at Tel: 3725 4300 or via Fax: 3725 4399 for assistance with inquiries or concerns regarding their accounts, trading activities, or any other related matters.
Additionally, clients can also contact Elstone's customer support team via email at enquiry@elstone.com.hk. The customer support team operates during office hours from 09:00 to 18:00 (Mon – Fri), ensuring timely assistance and guidance for clients' needs.
Educational Resources
Elstone provides educational resources primarily in the form of research reports. While research reports can offer valuable insights into market trends and investment opportunities, they are not as comprehensive or various as the educational resources offered by some popular brokers.
Conclusion
In conclusion, Elstone presents both advantages and disadvantages in its offerings.
The advantages include a wide range of tradable securities and services, regulatory oversight by the SFC, and margin trading and new stock trading capabilities.
However, higher brokerage fees at 0.25% with a minimum of HK$100.00 and limited educational resources pose as notable disadvantages. While its platform lacks a mobile trading app, accessible customer service via telephone, fax, and email is a notable advantage.
Despite these drawbacks, Elstone's regulatory compliance and comprehensive trading options contribute to its appeal among investors seeking a reliable and various trading platform.
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