OPEN ACCOUNT

• Opening Account
• Deposit, Fees & Commission
• Application Process

OPENING ACCOUNT

What are the types of trading accounts?

We provide cash or margin trading accounts for individual, joint, or corporate.

How can I open an account?

You can open a BOOM account in person, OR submit your application by post.

1. Fill out the Account Opening Form;
2. Make a copy of your official ID or passport;
3. Make a copy of your proof of address (e.g. utility bills, bank statements issued within 3 months);
4. Prepare the first year annual fee;
5. Arrange a witness to certify your ID or passport copy as well as your signature on the Account Opening Form.

For a complete list of required supporting documents, please refer to the Account Application Checklist.

If I open an account by post, who can be my witness?

If you open an account without personal visit, the signing of the Account Opening Form and sighting of related identity documents must be certified by a witness.

The witness must be a Justice of Peace or professional (such as a certified public accountant, a lawyer, or a notary public), and

1. Sign and state their full name and specific designation (e.g. registration with which law / accounting association) on the Account Opening Form; and
2. Sign and write "Certified True Copy" on the proof of your identity.

Alternatively, you can return the Account Opening Form plus a personal cheque* that

1. Bear your name and drawn on your account with a licensed bank in Hong Kong;
2. Not less than HK$10,000;
3. Bear the same signature as that on the Account Opening Form; and
4. Made payable to "Boom Securities (H.K.) Limited".

* Please note that your account will not be activated until we cash your cheque.

How can I transfer my account from another brokerage firm to BOOM?

Simply instruct your broker to transfer your portfolio/assets to BOOM. Please refer to Securities Deposit and Withdrawal for more details.

Deposit, Fees & Commission

Is a minimum initial deposit required?

No. There is no initial and minimum deposit for opening a trading account with BOOM.

Is a minimum deposit or any fee required to maintain an account?

No. There is no minimum deposit or charges required to maintain a BOOM trading account except the annual fee.

What is the annual fee?

Annual fee is the administration fee charged once a year.

Are custodian charges required?

We do not have custodian charges, you only have to pay the commission and relevant regulatory charges for transaction costs.

What is the commission rate?

BOOM offers its members a convenient and economical way to trade globally. Please refer to our Fees and Charges for more details.

How can I make my initial deposit?

You may deposit funds by HSBC Pay Bills, Internet banking, phone banking, ATM transfer, telegraphic transfer, branch deposit / transfer, or personal cheque / bank draft. Please go to the Funds Deposit section for further information.

If you want to make cash deposit, please do not send any cash to our office by post, but to deposit them into any branches of our bankers.

Application Process

How long will the application process take?

Upon receipt of the whole complete application package, your application will be processed in 1 to 2 business days. It can take as little as 30 minutes if you bring all the required documents with you and visit our office during office hours. Your Member ID and Login Password will then be sent via email and the Keycode for trading purpose will be sent by post.

How do I know if my application is successfully processed?

A Member ID and Login Password will be sent to you via email when your application is processed and a letter with your Account Number and Keycode for trading purposes will normally be sent to you by post.

How soon can I trade after my application is processed?

After receiving BOOM Member ID, Login Password, BOOM Account Number, and Keycode from us, as well as deposit sufficient funds in your trading account, you are ready to experience our trading services and place orders online.