HK Banks & Stock Brokers

[SeaEagle]

Moving to HK from Oz for a new flying job. I’d like to get some recommendations for a good Bank and Internet Stock Broker.

I’ve heard some good things about HSCB but not sure if they also do Stock Broking on the HKEx. But you guys might know of some good ones for a reasonable price.

[boofta]

Kindly check your PM's

[BalusKaptan]

Gidday SeaEagle.

CX will try and convince you to open an account with HSBC to receive your pay direct. The option of using another bank is discouraged (very hard to transmit money in a timely fashion/ expect delays in receiving pay). We all know that in this day and age that is a load of tripe but it is easier to just go with the flow.

Having said that, overall the bank is pretty good so just bite the bullet. As for a internet broker, the bank has your money so they are the easy and probably the best option. I use them and it is just so easy in addition periodically they will have a 'special' on and you will automatically receive it if trading at the time. (like discount buy/selling cost). Once you have a bank account you can setup the Investment (for share trading etc) at the same time or later online.

Hope that helps and welcome to HK.

[SeaEagle]

Thanks guys, you've been a great help.

[christep]

HSBC is pretty good IMO - the online system is excellent, and particualrly valuable if you are on the road a lot. Online stock trading is very (too?) easy and not much more expensive than the alternatives - it's worth it for the convenience of having everything in one place as far as I am concerned.

The only really bad thing in HK (but this is not specific to any bank) is that the initial charges for Managed Funds are normally around 5%, although as BalusKaptan says, there are sometimes specials which bring this down to 3%, and you can switch between funds from the same house without getting hit again.