SCS is broker dealer offering investment services mainly in stocks. SCS was incorporated in Hong Kong in 2014, our businesses are regulated by the Securities and Futures Commission of Hong Kong. SCS professional team provides tailor-made investment products and services to customers.
SCS Information
SCS, or Super China Securities, stands out for its competitively low commission rates starting from 0.25% with a minimum fee of HK$100, alongside offering a user-friendly trading app, the Super China Securities Online Trading Platform.
However, one drawback is the relatively high interest rate of 2.76% on uninvested cash.
Pros & Cons
Pros
SCS offers a wide range of tradable securities including stocks, bonds, ETFs, and more, meeting diverse investment preferences. It is regulated by the SFC, ensuring compliance with strict financial standards. Additionally, the company provides a unique trading platform, enhancing the trading experience with specialized features.
Cons
SCS imposes high commission fees with a minimum charge of HK$100, which may be a deterrent for small-scale traders. The company restricts deposit methods to only bank transfers, limiting flexibility for users. The official website offers limited information, which can make it difficult for investors to make informed decisions.
Furthermore, there are no educational or analytical tools provided, which could be a significant drawback for novice traders looking to learn and analyze market trends.
Is SCS Safe？
When evaluating the safety of Super China Securities (SCS), it's crucial to consider several key aspects:
Regulations:
SCS is regulated by the Securities and Futures Commission (SFC) of Hong Kong. The SFC's powers are derived from the Securities and Futures Ordinance (SFO) and its subsidiary legislation, ensuring that SCS operates under strict regulatory standards to protect investor interests.
SCS holds a valid license (License No. BCV258), which is a strong indicator of its compliance with regulatory requirements.
Funds Safety:
For fund safety, SCS adheres to the standard regulatory requirement of segregating client funds from company funds. This practice is crucial as it ensures that client assets are kept in separate bank accounts and cannot be used by the company for its own operational expenses or investments. Segregation of funds is a key protective measure that significantly reduces the risk of misuse and helps secure client assets in the event that the company faces financial difficulties.
Safety Measures:
SCS employs a range of safety measures to protect the integrity and security of client funds and personal information. These include the use of encryption technologies in their online trading platforms, ensuring that sensitive financial and personal data is transmitted securely. Furthermore, SCS is likely to have internal protocols and security measures in place to prevent unauthorized access and data breaches, although specific details on these measures are not publicly detailed on their website.
What are securities to trade with SCS？
At SCS, clients can engage in trading Hong Kong securities and securities margin financing, offering opportunities to invest in a variety of equity products while also potentially increasing purchasing power through margin loans.
Another service provided by SCS is the IPO subscription, allowing investors to participate in initial public offerings. This gives clients the chance to invest in companies at the ground level, potentially capitalizing on early investment opportunities.
Lastly, SCS offers services in share placement and underwriting business, which involves distributing new shares to investors and underwriting transactions. This service is key for those looking to invest in newly issued securities, providing a direct route to expanding investment portfolios.
SCS Account Review
SCS offers three main types of accounts to attract different clients, each with specific requirements for account opening:
Individual Customers:
Individuals looking to open an account with SCS must provide a completed application form, a copy of their Hong Kong Identity Card or Passport, proof of a valid residential address from the last three months, such as a gas bill or bank statement, and a Form W-8BEN for those participating in U.S. stock trading.
Corporate Account (for Hong Kong registered companies only) Professional Investor Account:
These accounts require more extensive documentation including the company registration license, articles of association or rules, business registration license, the most recent annual return, and identity documentation for all directors and authorized persons.
A resolution of the directors in relation to account opening, a letter of guarantee, and the latest financial report are also needed. Residential address proof for the last three months and a Form W-8BEN-E for U.S. stock traders are required. For professional investor accounts, a license from the Securities and Futures Commission (SFC) is necessary.
Company Account registered in the British Virgin Islands (BVI):
To open this type of account, companies must submit similar documentation as corporate accounts, including the company registration license, articles of association, directors and shareholder records, and identity verification for all directors and the ultimate beneficial owner (UBO).
A director's resolution for account opening and a letter of guarantee are also required, along with the latest financial report and proof of residential address from the last three months.
SCS Fee Review
SCS has a detailed fee structure for its trading and settlement services:
Transaction-Related Fees:
SCS charges a commission of 0.250% on the total transaction amount with a minimum of HK$100. This rate can be negotiable for high-volume customers. Additional transaction-related fees include a stamp duty of 0.100%, a transaction levy of 0.0027%, transaction fees of 0.00565%, a central clearing fee of 0.002% (minimum HK$3), and an AFRC levy of 0.00015%. The indemnity levy is currently suspended.
Escrow and Settlement Fees:
Fees for escrow and settlement services include a 0.002% withdrawal fee on the Last Close Gross with a minimum of HK$10, and gratis for deposits. Physical securities transactions attract a fee of HK$5.00 per lot for pickup (minimum HK$50) and HK$5.00 for each deposit. Processing fees for share or bonus share collections are HK$30.00, and cash dividend collections are charged at 0.300% of the dividend amount with a minimum of HK$20.
Additional Services Fees:
Rights issues and conversions involve a CCASS administration fee of $0.80 per board lot plus a handling fee of $30.00. For full takeovers, privatizations, and cash acquisitions, the handling fee is 0.125% of the transaction amount plus a CCASS fee of $0.80 per board lot, with a minimum charge of HK$100. Closing fees are HK$1.50 per board lot.
Borrowing and Miscellaneous Fees:
Interest on margin accounts is 9.00% per annum and 12.00% for overdue cash. Ticket return handling fees are HK$130.00 at HSBC and HK$120.00 at other banks. A dividend collection commission of HK$500.00 also applies.
Custodian and IPO Subscription Fees:
Custodian services are provided free of charge. Similarly, electronic IPO subscriptions incur no fees, facilitating easy access to new public offerings without additional costs.
SCS Trading Platform Review
The trading platform used by SCS is the Super China Securities Online Trading Platform. This platform is designed to offer a user-friendly interface that enables efficient and effective online trading.
It facilitates the execution of trades in various securities such as stocks, bonds, and ETFs directly through electronic transactions.
The platform is tailored to meet the needs of both novice and experienced traders by providing essential trading tools and real-time market data to assist in making informed trading decisions.
Customer Service
The customer support department at SCS can be contacted via phone at (+852) 3898 1888 for immediate assistance.
Alternatively, customers can reach out through email at cs@scsec.com.hk for queries or support related to their market activities.
Conclusion
In conclusion, SCS offers a diverse range of trading services, including a detailed and structured fee system for various transactions and services, robust customer support through phone and email, and a user-friendly online trading platform.
This makes it a viable option for individuals and corporate clients interested in engaging with the Hong Kong stock market.
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