Monmonkey

MMK Prime
WikiStocks Rating	⭐⭐⭐
Fees	Commissions：0.25% per trade(Minimum:HK $100)
Interests on uninvested cash	3.50%
Mutual Funds Offered	Yes
Platform/APP	MMK Prime APP(ios,Android)
Promotion	N/A

MMK Prime Information

　　MMK Prime is recognized for its competitive commission rates at 0.25% per trade with a minimum cost of HK $100, making it an attractive choice for active traders.

　　The platform is accessible via the user-friendly MMK Prime APP, available on both iOS and Android devices, which facilitates easy trading on the go.

　　However, a potential drawback is the relatively high interest of 3.50% on uninvested cash, which will be a concern for some investors holding significant cash balances.

Pros & Cons

　　Pros:

　　MMK Prime offers a variety of tradable securities including stocks and IPO subscriptions, meeting diverse investment interests. The platform is regulated by the SFC, ensuring compliance with financial regulations and investor security. MMK Prime APP provides a unique and efficient trading experience, tailored for easy navigation and quick account opening, streamlining the process for new users.

　　Cons:

　　MMK Prime's commission structure may deter some traders due to a high flat rate of HK$100 per month. Customer support options are limited as the service does not include email communication, potentially complicating issue resolution.

Is MMK Prime Safe？

　　Regulations:

　　MMK Prime is regulated by the Securities and Futures Commission (SFC) of Hong Kong under license number BHP423. The SFC is a well-respected regulatory authority established to oversee and enforce the integrity and soundness of Hong Kong's securities and futures markets.

　　Funds Safety:

　　For fund safety, MMK Prime, being regulated by the Securities and Futures Commission (SFC) of Hong Kong, is required to adhere to strict regulatory standards, which typically include the segregation of client funds.

　　This means that MMK Prime must keep clients' funds in separate bank accounts from its own operational funds. This segregation is a crucial safety measure as it protects clients' assets from being used for any unauthorized or unintended purposes by the brokerage itself, ensuring that the funds are available for clients' trading activities or withdrawal requests at all times.

　　Safety Measures:

　　MMK Prime employs various safety measures to protect clients' funds and personal information. According to their Privacy Statement, the company adheres to the Personal Data (Privacy) Ordinance of Hong Kong, ensuring that all personal data collected is treated as confidential.

　　MMK Prime uses technological measures such as encryption to secure transactions and data storage, and has policies in place to prevent unauthorized data access and ensure the privacy of user information. The use of cookies and tracking technologies also implies an active management of data security and user interaction with their platforms.

What are securities to trade with MMK Prime？

　　At MMK Prime, clients have the opportunity to trade a diverse range of securities, supported by reliable investment services and advanced technological infrastructure. The securities available for trading include:

• 　　HK Stocks: MMK Prime offers trading in Hong Kong stocks, providing both cash and margin financing accounts. Clients can choose from various online trading channels and brokerage transactions to suit their investment style.

• 　　IPO Subscription: The platform allows clients to subscribe to Initial Public Offerings (IPOs) using leverage. Investors can deposit at least 10% of the subscription deposit and apply for up to 90% of IPO financing. MMK Prime also provides an eIPO service for streamlined online applications.



MMK Prime Account Review

　　MMK Prime offers several types of accounts tailored to different client needs, including options for individuals and corporate entities:

• 　　Individual Accounts:

　　Individual Account - Hong Kong:

• 　　Required documents include an HKID card or Passport, proof of address issued within the last three months, and a Hong Kong Bank Card or Passbook.

　　Individual Account - China:

• 　　Required documents are an ID Card, a copy of the Passport and Exit-Entry Permit for Travelling to and from Hong Kong and Macau, proof of address (temporary residence registration certificate or recent proof of address), and a Hong Kong Bank Card or Passbook.



• 　　Corporate Accounts:

　　Corporate Account – Hong Kong Registered Company:

• 　　Documents needed include copies of Hong Kong Identity Cards/Passports of Directors and Authorized Persons, proof of address, Business Registration Certificate, Company Registration Certificate, Articles of Association or Other Company Charter, Directors' Resolutions regarding account opening, Director Records, Shareholder Records, certified copy of the incorporation certificate and business registration certificate of the ultimate beneficial owner, recent Annual Return Report, and Recent Financial Report.

　　Corporate Account – British Virgin Islands and Other Companies Registered Outside Hong Kong:

• 　　Similar to the Hong Kong corporate account, this requires copies of Hong Kong Identity Cards/Passports of Directors and Authorized Persons, proof of address, Company Registration Certificate, Articles of Association or Other Company Charter, Directors' Resolutions regarding account opening, Director and senior officer in-service certificate/registered agent certificate, Company Existence Certificate, Director Records, Shareholder Records, certified copy of the incorporation certificate and business registration certificate of the ultimate beneficial owner, and recent Annual Return Report.



MMK Prime Fee Review

　　The fee structure at Monmonkey Group Securities is thorough, covering various charges for trading activities across different markets. Here's a detailed breakdown:

　　Hong Kong Stock Trading Fees:

　　Monmonkey Group Securities charges a commission of 0.25% with a minimum fee of HK$80 for trading Hong Kong stocks. Additional costs include a 0.25% grey market trading fee with a minimum of HK$100 per stock, stamp duty at 0.1% rounded up to the nearest dollar, a transaction levy of 0.0027%, a trading fee of 0.00565%, and a settlement fee of 0.005% (with CCASS charging a part of this at 0.002% and a minimum of HK$5).



　　Stock Withdrawal and Deposit Charges:

　　Physical stock withdrawal incurs a fee of either HK$5 per board lot or 0.25% of the market value, with a minimum of HK$100. For stock deposits, a transfer deed print fee of HK$5 per copy or 0.25% of the market value is charged. SI instructions through CCASS are free unless specified otherwise under individual circumstances, with delivery and reception potentially incurring additional fees.



　　Nominee Services and Corporate Actions:

　　Fees for cash and scrip dividend collection are 0.12% of the total dividend amount with a cap of HK$30,000 per stock. Other corporate actions such as shareholder rights exercises and cash offers involve various handling fees, including a CCASS fee of HK$0.8 per board lot and a general handling fee of up to HK$300 per transaction.



　　China Connect Securities Trading Service Charges:

　　Trading commissions for China Connect securities are 0.25% per transaction with a minimum of RMB$100. Other fees include a handling fee of 0.00341%, a securities management fee of 0.002%, and a transfer fee of 0.001% of the transaction value per side, with certain fees having historical waivers or adjustments.



　　U.S. Securities Trading Fees:

　　For U.S. stocks, the trading commission is 0.25% of the transaction amount with a minimum of USD$5. Additional fees include an SEC fee of 0.0008%, a transaction fee of USD$0.000166 per share up to USD$8.30 for sell orders, and a depositary receipt fee varying from USD$0.01 to USD$0.05 per share, depending on the terms set by the issuer.



　　Loan and Account Service Fees:

　　Handling charges for IPO applications are set at HK$100 per transaction. Other account service fees include check refund handling fees and interest penalties for overdue amounts in cash accounts, calculated based on a marked-up rate over the best interest rate provided by the Bank of Communications.



　　Additional Services:

　　Monmonkey Group Securities also charges for currency exchange handling, with a fee of HK$100 per transaction. Custody and nominee services fees for various actions in different markets (e.g., China Shenzhen B Shares) include dividend taxes, collection fees, and fees for non-cash distributions. These fees vary significantly based on the type of service and the specific market conditions.



Category	Type	Fee	Charged By
Hong Kong Stocks	Commission	0.25%, min. HK$80	Monmonkey Group Securities
	Grey Market Trading Fees	0.25%, min. HK$100 per stock	Monmonkey Group Securities
	Stamp Duty	0.1%, roundup to nearest dollar	HK Government
	Transaction Levy	0.00%	HKEX
	Trading Fee	0.01%	HKEX
	Settlement Fee	0.005%, 0.002% by CCASS, min. HK$5	HKSCC and Monmonkey
Stock Withdrawal and Deposit	Physical Stock Withdrawal	HK$5 per board lot or 0.25%, min. HK$100	Monmonkey Group Securities
	Physical Stock Deposit	Transfer Deed print fee: HK$5 or 0.25%	Monmonkey Group Securities
	SI Instruction – Delivered CCASS	CCASS Fee: 0.002%, min. HK$20, max. HK$100	CCASS
	SI Instruction – Received CCASS	Free (charges can apply individually)	Monmonkey Group Securities
Nominee Services and Actions	Dividend Collection	0.12% of dividend, max. HK$30,000	Monmonkey Group Securities
	Shareholder Actions Handling	CCASS Fee: HK$0.8, max. HK$30,000	CCASS
China Connect Trading	Commission	0.25%, min. RMB$100	Monmonkey Group Securities
	Handling Fee	0.00%	Shanghai/Shenzhen Stock Exchange
	Securities Management Fee	0.00%	China Securities Regulatory Commission
	Transfer Fee	0.001% of transaction per side	ChinaClear
U.S. Stocks	Trading Commissions	0.25%, min. USD$5	Monmonkey Group Securities
	SEC Fees	0.0008%, min. USD$0.01 (Sell orders only)	SEC
	Transaction Fee	USD$0.000166 per share, up to USD$8.30	FINRA
Loan and Account Services	IPO Application Handling	HK$100 per transaction	Monmonkey Group Securities
	Check Refund	Bank charges + HK$100	Monmonkey Group Securities
	Interest Penalty (Cash Account)	P + 6% x overdue amount	Bank of Communications
Additional Services	Currency Exchange Handling	HK$100 per exchange	Monmonkey Group Securities
	Custody Fee	Free	-

MMK Prime Trading Platform Review

　　The MMK app is Monmonkey Group Securities' mobile trading platform, designed to offer users a easy trading experience on their smartphones.

　　The app enables both new and existing customers to open and manage their trading accounts, execute trades, and monitor their investments conveniently.

　　Key features of the MMK app include dual authentication security for account registration, the ability to set personal passwords, and direct account opening and binding for streamlined access to trading functionalities.

　　This platform is tailored to provide efficient and reliable investment services, making it easy for users to engage with the financial markets directly from their mobile devices.



Customer Service

　　Monmonkey Group Securities provides customer support through multiple channels to assist their clients effectively. Customers can reach out via email at cs@monmonkeygroup.com for inquiries or support related issues.

　　For immediate assistance or more direct communication, they can call the customer hotline at +852 2111-0110. The company's office is located at Unit 2418, 24/F, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Sheung Wan, HK, where clients can also visit for face-to-face support.



Conclusion

　　In conclusion, Monmonkey Group Securities offers an efficient trading experience through its MMK app, providing a easy interface for trading and account management directly from mobile devices. The platform supports a range of functionalities, including new account registration, trading, and account binding, with robust customer support available via email, phone, and in-person visits.

FAQs

• 　　How can I download the MMK app？

• 　　The MMK app can be downloaded from the appropriate mobile app stores.

• 　　What do I need to register an account on the MMK app？

• 　　You need a valid phone number or email address to register, and you'll receive a one-time password for authentication.

• 　　Who can I contact for assistance with my account or trading issues？

• 　　You can email cs@monmonkeygroup.com or call +852 2111-0110 for any support-related queries.

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.