
<p>Buying a cozy nest for you and your family is the first step towards a happy and fulfilling life. After successfully purchasing a property, your budget may be tight, making it necessary to save money during the home renovation process.</p>



<p>In Hong Kong, the cost of renovating and furnishing a 300-square-foot unit typically ranges from a hundred thousand to several hundred thousand Hong Kong dollars. However, with numerous home renovation and interior design options, prices vary significantly depending on the chosen design style, materials, and renovation company. First-time renovators may need help determining where to begin.&nbsp;</p>



<p>If you&#8217;re looking for renovation quotes, don&#8217;t miss the following 12 money-saving tips to help you plan your renovation and avoid unnecessary expenses.</p>



<h2>1) Get More Quotations and Compare the Prices</h2>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://images.unsplash.com/photo-1489171078254-c3365d6e359f?ixlib=rb-0.3.5&amp;ixid=eyJhcHBfaWQiOjEyMDd9&amp;s=fe3391048aa6a5e7e0675015330416e8&amp;w=1000&amp;q=80" alt="photo of flat screen television" width="500" height="282"/><figcaption class="wp-element-caption"><em>▲Getting quotes for the same design from different companies can result in significant price differences.</em></figcaption></figure>



<p>Just as you viewed multiple properties before deciding, do the same for home renovation. Even with the same unit and requirements, quotes from different renovation companies may vary significantly. So, take your time and contact several contractors or designers for on-site quotes. Ask friends and family for reliable home renovation or design company recommendations to avoid going in blindly.</p>



<p>Some local home renovation platforms in Hong Kong where you can get a quote include:&nbsp;</p>



<ul>
<li>SPACEPLAN</li>



<li>CallSiFu</li>



<li>CoDECO</li>



<li>CFUGO</li>



<li>HK Decoman</li>



<li>Decoration2</li>
</ul>



<h2>2) Detailed Quotes Offer Better Reliability</h2>



<p>Some traditional home renovation contractors may quote a price like &#8220;HK$300,000&#8221; without much detail. To protect yourself, request a detailed quote specifying every aspect, such as:</p>



<ul>
<li>Kitchen and built-in cabinet dimensions and materials</li>



<li>Whether each renovation item includes labor and materials</li>



<li>Things you need to purchase separately</li>



<li>Built-in cabinet styles, colors, and board thickness</li>



<li>Paint brands and colors</li>



<li>Number of electrical sockets</li>



<li>Renovation insurance arrangements</li>



<li>Project completion date</li>
</ul>



<p>You should insist on adding details to contracts before signing and paying the deposit to avoid disputes after the work begins.</p>



<h2>3) With or Without an Interior Designer?</h2>



<p>Hiring a designer to oversee your home renovation offers the benefit of having someone handle the design, material selection, and project supervision. However, this option can be expensive. Generally, designers will measure your space, create initial sketches and quotes, and provide 3D color renderings after multiple revisions. This process can take up to a month from property handover to the actual renovation start.</p>



<p>If you have ample time, energy, home renovation and furnishing knowledge, and a clear vision for your dream home, consider hiring a home renovator or contractor without design service (Hong Kongers usually call them a CFU).&nbsp;</p>



<p>While these contractors may not provide 3D designs or much design advice, they typically have extensive knowledge of materials and electrical work, and most importantly, you can save on design fees.</p>



<h2>4) Are Built-in Furniture Pieces Necessary?</h2>



<p>Many small-space design case studies feature extensive built-in furniture for increased storage. However, custom-built furniture is often more expensive and makes the space cramped.</p>



<p>Consider whether you really need every inch of your home for storage. Installing built-in cabinets in a narrow corridor may obstruct passage; storage areas underneath a bed can be challenging to access, and window storage units can block the view. Instead, focus on decluttering and releasing space in your home, which can make you more delightful than filling the space with storage units.</p>



<h2>5) Smart Use of Credit Card Rewards and Installment Plans</h2>



<p>Renovating a home can be expensive, so utilizing interest-free and installment plans offered by renovation and design companies can help reduce one-time expenses. Credit cards are also great money-saving tools, helping you earn cashback when purchasing furniture and enjoy interest-free or low-interest installment repayments. Cards like livi PayLater, HSBC Red, and PrimeCredit EarnMORE are simple and offer impressive cashback amounts.</p>



<h2>6) Warehouse Sales and Expos</h2>



<p>In Hong Kong, there are ways to save money on furniture and appliances. The most convenient method is to buy store display items, although not everyone may be comfortable with that. You can search Google for furniture stores or appliance brands holding warehouse sales or promotions. You can find many discounted items if there is a furniture expo.</p>



<h2>7) Online Shopping for Overseas Products</h2>



<p>Purchasing brand-name appliances, kitchenware, faucets, mattresses, and other items in Hong Kong often costs significantly more than buying them in their countries of origin. As a result, savvy homeowners may choose to shop online for overseas products. Many foreign companies provide direct shipping or forwarding services to Hong Kong.&nbsp;</p>



<p>For example, ordering a popular Dyson vacuum cleaner from a UK or German website may be half the price, even with shipping fees, compared to buying it in Hong Kong. However, be aware that some online parallel imported products may not have warranties in Hong Kong, so weigh the risks. When using proxy-buying and forwarding services, pay attention to insurance and protection clauses to avoid losses due to product damage during shipping.</p>



<p>Furthermore, the electrical specifications of products from Japan, the US, and Taiwan may differ from those in Hong Kong, so online appliances may not be suitable for use in Hong Kong. Global standards generally apply for renovation materials like floor tiles, ceramic tiles, and sanitary ware, so feel confident shopping for foreign products online.</p>



<p>If you&#8217;re still hesitant about shopping on foreign websites like Amazon, consider the following local or overseas platforms that cater specifically to Hong Kong customers, offering convenient communication and more excellent protection for consumers:</p>



<p>Amazon is a global e-commerce platform that offers a vast selection of furniture from overseas, providing Hong Kong customers with a convenient and cost-effective way to purchase unique, high-quality items not readily available locally.</p>



<ul>
<li><strong>Amazon:</strong>&nbsp;Amazon is a global e-commerce platform that offers a vast selection of furniture from overseas, providing Hong Kong customers with a convenient and cost-effective way to purchase unique, high-quality items not readily available locally.</li>



<li><strong>Live A Life Home:&nbsp;</strong>Japanese solid wood furniture specialist offering sofas, tables, chairs, TV cabinets, and storage cabinets.</li>



<li><strong>ImportAppliances:</strong>&nbsp;Importing European kitchen appliances from brands like Bosch, Siemens, and Smeg</li>
</ul>



<h2>8) Buying from Mainland China</h2>



<p>Although not everyone may favor made-in-China products, the fact remains that many of the renovation materials and furniture available in Hong Kong&#8217;s market are manufactured in China. Even custom-made furniture is primarily made in China and then shipped to Hong Kong for assembly. Since there&#8217;s no way to avoid it, why not also explore what China offers?&nbsp;</p>



<p>Ordering mainland Chinese renovation materials and furniture through Taobao is the easiest and quickest way. If you want to see the products in person, many people visit the Tian Bei Si Road in Shenzhen.</p>



<p>Purchasing ready-made products such as floor tiles, sanitary ware, and lighting fixtures in mainland China is generally similar in quality to those in Hong Kong, and you can easily use them in your home with no issues.&nbsp;</p>



<p>However, custom-made items like kitchen cabinets or wardrobes can sometimes lead to discrepancies in the delivered goods. Additionally, installation technicians arranged by mainland furniture stores may not be authorized to work legally in Hong Kong, potentially trapping consumers to hiring illegal workers.</p>



<h2>9) Seize the off-season for bargaining</h2>



<figure class="wp-block-image"><img decoding="async" src="https://media3.giphy.com/media/2tNx1Lh7S3bIsiHrUn/giphy.gif?cid=3640f6095bd6a676475975376724fc33" alt="john crist comedy GIF by Interstellardesignz"/><figcaption class="wp-element-caption"><em>▲The off-peak and peak seasons affect the interior design and home renovation fees.</em></figcaption></figure>



<p>When is the best time of year to do home renovation? You must consider doing it in the off-season if you wish to reduce the cost. Influenced by traditional customs, many people prefer to complete renovations before the Lunar New Year to move into their new homes during the holiday. As a result, the year-end is the peak season for renovations, with many companies busy and less room for negotiation. </p>



<p>On the other hand, after the Lunar New Year, as the off-season begins, renovation companies may lower their prices or even offer discounts, creating a good opportunity for bargaining.</p>



<h2>10) Making the Most of Existing Decorations</h2>



<p>When buying a property, you also acquire the previous owner&#8217;s decorations and part of the furniture and appliances. If the existing stuff aligns with your preferences, it can save you money significantly.&nbsp;</p>



<p>Having sufficient funds for a complete renovation is ideal, but if you want to save money, you may need to settle for less and preserve some of the previous owner&#8217;s decorations. You might not need to redo the plumbing or wiring if the property is young enough. Minor features like wall socket covers, exhaust fans, door locks, and kitchen or bathroom ceiling lights may not make much difference when replaced and might not even be noticeable, so consider not changing them.</p>



<h2>11) Considering Long-term Maintenance</h2>



<figure class="wp-block-image"><img decoding="async" src="https://media0.giphy.com/media/lVBtp4SRW6rvDHf1b6/giphy.gif?cid=3640f6095bd6a9677452557363801eac" alt="water fix it GIF"/><figcaption class="wp-element-caption"><em>▲During renovations, consider long-term home maintenance and don&#8217;t solely focus on aesthetic design.</em></figcaption></figure>



<p>After completing home renovations, you and your family may live in the home for ten years or longer, so it&#8217;s essential to consider future maintenance costs. If your residence is located in a humid area of Hong Kong, like the eastern or southern coastal regions, opt for moisture-resistant materials for paint and wardrobes.&nbsp;</p>



<p>When choosing bright lighting and appliances, consider whether it will be difficult to find replacement parts and repair services in the future. Select standard-sized brands for built-in appliances or stovetops to avoid modifying cabinets when replacing them.</p>



<p>During renovations, prioritize the quality of materials and products to reduce potential future maintenance costs. Investing in more expensive but durable items can lead to long-term savings.</p>



<h2>12) Applying for Home Renovation Loans</h2>



<p>Some banks offer &#8220;home renovation loans,&#8221; a type of&nbsp;<a target="_blank" href="https://www.planto.hk/en/blog/personal-loan-APR-comparison/" rel="noreferrer noopener">personal loan</a>&nbsp;characterized by higher loan amounts, up to HK$1.2 million, and repayment periods similar to traditional personal loans, with a maximum of 60 months. However, the annual interest rate for renovation loans starts at over 4%, slightly higher than regular low-interest personal loans.</p>



<p>If you prefer a lower interest rate, consider standard personal loans from banks, with annual interest rates as low as around 2%, mainly through online loan products from virtual banks, which may offer more promotions and benefits.</p>



<p>If your renovation coincides with the tax season (from October to April), you can apply for bank tax season loans, with many options available for annual interest rates below 2%. However, the loan amount limits for standard personal or tax loans are typically around 12 to 24 months, which may not be sufficient to cover more expensive home renovation or interior design costs.</p>



<loan-table> language=&#8221;en&#8221; </loan-table>


Discover cost-effective home renovation tips, including leveraging credit card rewards, warehouse sales, overseas online shopping, and financing options and more. 






Home Renovation Cost 2023: 12 Money-Saving Tips for Hong Kongers


<p>As the Federal Reserve in the United States sharply raised interest rates, the global financial markets were in turmoil. Several large banks collapsed, and funds flowed heavily into safe-haven assets. Gold became highly sought-after and approached historic highs per ounce. As an investment with considerable potential for appreciation, are you interested in learning more about gold?</p>



<p>Investors who are interested in gold can choose to purchase physical gold or explore alternatives such as gold ETF and paper gold.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="516" src="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/螢幕擷取畫面-2023-03-21-152210-1-1024x516.png" alt="" class="wp-image-28306" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/螢幕擷取畫面-2023-03-21-152210-1-1024x516.png 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/螢幕擷取畫面-2023-03-21-152210-1-300x151.png 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/螢幕擷取畫面-2023-03-21-152210-1-768x387.png 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/螢幕擷取畫面-2023-03-21-152210-1-1200x605.png 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/螢幕擷取畫面-2023-03-21-152210-1.png 1452w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Gold price has been on the rise in the past month. Source: TradingView</figcaption></figure>



<h2>Will Gold Prices Continue to Soar in 2023?</h2>



<p>As we step into 2023, the tensions between Russia and Ukraine continue to escalate. Shortly thereafter, several major banks such as Silicon Valley Bank, First Republic Bank, Signature Bank, and Credit Suisse suddenly collapsed, causing the market&#8217;s risk aversion sentiment to soar. A large number of funds poured into the safe-haven gold market, driving the spot gold price close to $2,000 per ounce, approaching the historical high of $2,070 per ounce. </p>



<p>Currently, the rise in gold prices is attributed to the weakening of the US dollar and the increasing pressure on the global banking system, leading to a large influx of funds into safe-haven assets. This trend may continue until the end of March 2023. </p>



<p>However, if investor confidence increases, it may reverse the current situation. The turning point may depend on the Federal Reserve&#8217;s interest rate meeting on March 23. if dovish sentiment prevails, gold will likely benefit, while a neutral or hawkish stance may cause gold prices to fall.</p>



<p>While gold can offer a stable store of value in uncertain times, it is crucial to remain vigilant about the market’s ever-changing landscape and the potential reversals in trends.</p>



<h2><strong>Physical gold: proper maintenance is required to preserve the value</strong></h2>



<p>Physical gold comes in various forms such as gold nuggets, gold bars and jewelries/accessories. One advantage of physical gold investment over other options is the fact that investors get to own something that they can see and touch.</p>



<p>Investors from the older generation like to visit gold shops to purchase or make accessories for the purpose of investment or value preservation, however purchasing gold jewelries or accessories typically include additional fees such as design, making and wastage charges.</p>



<p>One convenient way to invest in physical gold is to invest directly through retail banks. Many banks in Hong Kong such as Bank of China, Hang Seng Bank, Wing Lung Bank, Shanghai Commercial Bank etc. offer physical gold trading service. However, investors should be mindful that not all bank branches stock gold so it would be best to make a phone call before making a visit.</p>



<p>Physical gold also requires storage and proper maintenance as any damage would affect the gold’s value. Investors may explore vault service for storage and safety.</p>



<h2><strong>Paper gold: low barrier to entry but be cautious when selecting service provider</strong></h2>



<p>Gold passbook account or paper gold is an alternative for investors who do not wish to deal with physical assets. While investors can trade gold on a passbook account, there is no actual buying or selling of physical gold – this also means physical gold can not be withdrawn from the account either. The passbook accounts only record gold deposits and trades, hence the investors will not be getting any interest income from the bank. The only way to make money from paper gold investment is through price appreciation as the price of paper gold fluctuates with the gold market. One other benefit of paper gold investment is its low barrier to entry as the minimum transaction amount can be very low.</p>



<p>The value of paper gold depends entirely on the gold passbook account, this makes the credibility of financial institutions or banks who offer this service extremely important. For example, in an unlikely event of bankruptcy, the value of paper gold held in the passbook account may return to nothing. &nbsp;</p>



<h2><strong>Gold ETF: Low barrier to entry, high transparency and liquidity, watch out for management fee</strong></h2>



<p>Investors who are interested in both gold and the stock market can choose to either invest in gold related companies or explore gold ETFs. Gold ETFs are gold related funds which offer high transparency and liquidity when it comes to gold investment. Gold ETFs that are currently available on the Hong Kong Stock Exchange include SPDR Gold ETF (2840), Value Gold ETF (3081) and Hang Seng RMB Gold ETF (83168). Gold ETFs are backed by gold commodity, this means when an investor purchases gold ETF, the issuer will buy physical gold of corresponding value and place it in a high security vault.</p>



<p>Apart from being listed in Hong Kong, SPDR Gold ETF is also listed in the U.S. and Japan which are considered more international markets. Value Gold ETF is issued by a Hong Kong asset management company called Value Partners. The Hang Seng RMB Gold ETF is issued by Hang Seng Investment Management, however this requires RMB for trading.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="342" src="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/WhatsApp-Image-2023-03-22-at-11.18.43-AM-1-1024x342.jpeg" alt="" class="wp-image-28307" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/WhatsApp-Image-2023-03-22-at-11.18.43-AM-1-1024x342.jpeg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/WhatsApp-Image-2023-03-22-at-11.18.43-AM-1-300x100.jpeg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/WhatsApp-Image-2023-03-22-at-11.18.43-AM-1-768x257.jpeg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/WhatsApp-Image-2023-03-22-at-11.18.43-AM-1-1200x401.jpeg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2023/03/WhatsApp-Image-2023-03-22-at-11.18.43-AM-1.jpeg 1477w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Price of SPDR Gold ETF (2840) is rising following the rise in gold price. Source: Tiger Trade</figcaption></figure>



<p>According to the price on 20<sup>th</sup> March 2023, Value Gold ETF costs about HK$43.32per share, and 1 lot consists of 100 shares – which means HK$4,332 per lot. On the U.S. exchange, GLD ETF share price in the same period is US$183.84 per share with no lot restriction. With gold ETFs, casual or new retail investors can participate in the gold market with funds as low as HK$1,000. One thing to note however is ETFs generally have management fees, but they typically do not exceed 1%. </p>



<p>Participation in the stock market always involves risk. Gold ETFs in Hong Kong do not have hedging mechanisms so whenever gold price drops, the price of gold ETFs will also follow.</p>



<h2><strong>Explore overseas Gold ETFs</strong></h2>



<p>While there may only be a few gold ETFs in Hong Kong, the concept of gold backed ETFs have been popular in the U.S. and Europe for the past decade. There are close to 100 gold ETFs registered around the world and Hong Kong investors can easily explore them through some of the local and international brokerage platforms.&nbsp;</p>



<hr class="wp-block-separator has-css-opacity"/>



<h2><strong>Free stock offers from brokerages</strong></h2>



<p>Many investors invest in gold ETFs through the Hong Kong or U.S. stock exchanges to take advantage of high liquidity. The following are some of the popular welcome offers from stock brokerages:</p>



<figure class="wp-block-table"><table><tbody><tr><td><strong>Securities Firm</strong></td><td><strong><a href="https://www.planto.hk/en/blog/SoFi-Hong-Kong-Broker-Review/">SoFi HK</a></strong></td><td><strong><a href="https://www.planto.hk/zh/blog/uSMART-brokers-review/">uSMART Securities</a></strong></td><td><strong>9F Securities</strong></td><td><strong><a href="https://www.planto.hk/zh/blog/futu-brokers-review/">Futu Securities</a></strong></td></tr><tr><td><strong>Free Stock Offers and Conditions</strong></td><td>Earn 20 SoFi points after account opening. Get more points through various activities and exchange them for free SnapChat, Twitter or Coca Cola shares.</td><td>1 share of Jiumaojiu after account opening<br><br>2 shares of Peijia Medical if first-time deposit &gt; HK$20,000<br><br>2 shares of Ping An Good Doctor if first transaction is over HK$500 and assets under management amount reach HK$100,000 or above within 30 days upon account activation</td><td>Get 2 and up to 10 shares of CLP Holdings after depositing a minimum of HK$20,000</td><td>Get 1 share of HSBC and Tencent each after depositing HK$20,000 or more</td></tr><tr><td><strong>Other Offers</strong></td><td>⭐️No commission and platform free for U.S. and Hong Kong stock trading</td><td>⭐️Zero commission plan for U.S. and Hong Kong stock trading</td><td>⭐️0 platform fee and transaction fee for HK stocks.<br><br>⭐️Free 30-day trial for LV2 streaming.</td><td>⭐️HK$100 supermarket gift voucher<br>Life long commission free Hong Kong stock trading</td></tr><tr><td><strong>More Details</strong></td><td><a href="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoiZWlnaHRzZWN1cml0aWVzX3NvZmkiLCJ0eXBlIjoiaW52ZXN0bWVudF9icm9rZXIiLCJhcHBseVVybCI6Imh0dHBzOi8vZ28ub25lbGluay5tZS8xdFZvP3BpZD1QbGFudG8mYz1QbGFudG9fU29GaUhvbmdLb25nJmFmX3dlYl9kcD1odHRwcyUzQSUyRiUyRnd3dy5zb2ZpLmhrJTJGd2ViJTJGemgtaGFudCUyRm9wZW4tYWNjb3VudCUyRiUzRnV0bV9zb3VyY2UlM0RQbGFudG8lMjZ1dG1fbWVkaXVtJTNEQWZmaWxpYXRlcyUyNnV0bV9jYW1wYWlnbiUzRFBsYW50byIsImZyb20iOiJicm9rZXIgd2VsY29tZSBvZmZlciB0YWJsZSB0YWJsZSJ9">Visit Broker</a></td><td><a href="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoidXNtYXJ0X2Jyb2tlciIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly91c21hcnRzZWN1cml0aWVzLmNvbS9BZmZpbGlhdGUvdC9OciIsImZyb20iOiJicm9rZXIgd2VsY29tZSBvZmZlciB0YWJsZSB0YWJsZSJ9">Visit Broker</a></td><td><a href="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoiOUZfYnJva2VyIiwidHlwZSI6ImludmVzdG1lbnRfYnJva2VyIiwiYXBwbHlVcmwiOiJodHRwczovL3d3dy45ZnN0b2NrLmNvbS9uZXctb3Blbi1zdG9jay5odG1sP2NoYW5uZWxJZD01NTUmdXRtX3NvdXJjZT0zcmQtemh1Y2UmdXRtX21lZGl1bT1wbGFudG8iLCJmcm9tIjoiYnJva2VyIHdlbGNvbWUgb2ZmZXIgdGFibGUgdGFibGUifQ==">Visit Broker</a></td><td><a href="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoiZnV0dV9zZWN1cml0aWVzIiwidHlwZSI6ImludmVzdG1lbnRfYnJva2VyIiwiYXBwbHlVcmwiOiJodHRwczovL3Bhc3Nwb3J0LmZ1dHU1LmNvbS9zZW0vaGs/bGFuZGluZ0lkPTMmY2hhbm5lbD02NDIiLCJmcm9tIjoiYnJva2VyIHdlbGNvbWUgb2ZmZXIgdGFibGUgdGFibGUifQ==">Visit Broker</a></td></tr></tbody></table><figcaption>The above offers are limited time offers and they are subjected to periodical updates. Latest offer information can be found on securities firm’s websites.</figcaption></figure>



<h4>Recommended Readings</h4>



<ul>
<li><a href="https://www.planto.hk/en/blog/free-stocks-brokers-welcome-offer/">Welcome Offer Comparison: Get Free Blue-Chip Stocks With New Investment Accounts</a></li>



<li><a href="https://www.planto.hk/en/blog/Portfolio-Diversification-Investment/">Investment Strategy Guide to building a diversified portfolio</a></li>



<li><a href="https://www.planto.hk/en/blog/Valuable-Capital-Broker-Review/">Valuable Capital Review:&nbsp;Commission-free HK stock trading, free real-time quotes</a></li>



<li><a href="https://www.planto.hk/en/blog/futu-brokers-review/">Futu Securities Review</a></li>



<li><a href="https://www.planto.hk/en/blog/saxo-bank-review-offshore-account/">Saxo Bank Review: A Simple Offshore Banking &amp; Trading Solution for Hong Kongers</a></li>
</ul>



<p style="font-size:16px"><strong>Important information:</strong></p>



<p style="font-size:16px">Investment involves risks. This information is intended to be educational and is not tailored to the investment needs of any specific investor. This information does not constitute investment advice and should not be used as the basis for any investment decision nor should it be treated as a recommendation for any investment or action. Past performance is no guarantee of future results. The value of investments and the income from them can go down as well as up, so you may not get back what you invest.</p>


Investors who are interested in gold can choose to purchase physical gold or explore alternatives such as gold ETF and paper gold.

Investing in gold, gold ETF and paper gold: Pro, con and low barrier to entry alternatives


<p>Fresh graduates have gradually entered the workforce and are beginning to contribute 5% of their monthly salary to their Mandatory Provident Fund (MPF) accounts. Many people believe that MPF can only be withdrawn after retirement and, as a result, may not pay much attention to it.</p>



<p>However, the truth is that managing your MPF account properly and early on can lead to significant wealth accumulation through the power of compound interest. Therefore, fresh graduates should take their MPF accounts seriously from their first job onwards.</p>



<h2>Is MPF Mandatory in Hong Kong?</h2>



<p>According to the law, all employees between 18 and 64 years of age who have been employed for at least 60 days, whether full-time or part-time, must participate in an MPF scheme. The minimum contribution amount is 5% each from the employer and employee, with respective caps of HK$1,500. If an employee&#8217;s monthly income is less than HK$7,100, the employee is not required to make contributions. However, the employer still has to contribute 5% of the employee&#8217;s monthly salary.</p>



<p>Employees are entitled to a contribution holiday during the first 30 days of employment and the first incomplete salary cycle. In other words, many workers do not need to contribute to the MPF for the first two paychecks, but the employer will still contribute on their behalf.</p>



<p>According to statistics released by the MPFA in March 2022, 77% of the employed population in Hong Kong is covered by the MPF scheme.</p>



<h2>Why is MPF Important?</h2>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://images.unsplash.com/photo-1508963493744-76fce69379c0?ixlib=rb-0.3.5&amp;ixid=eyJhcHBfaWQiOjEyMDd9&amp;s=6208a3203071968105278c7d0c15587b&amp;w=1000&amp;q=80" alt="man and woman sitting on bench facing sea" width="500" height="334"/><figcaption class="wp-element-caption"><em>▲</em>MPF is a long-term investment that affects retirement life and should be managed with caution.</figcaption></figure>



<p>MPF is a long-term investment closely related to retirement life and should be managed carefully. Since the implementation of the MPF system, the average rate of return of the funds after deducting expenses is 4.4%.</p>



<p>Assuming that you start working at the age of 23 with a starting salary of HK$15,000 and an average annual salary increase of 3.8% (based on the average of the past 10 years according to the Census and Statistics Department), according to the MPF accumulative benefits calculator provided by the MPFA, you can obtain the following benefits from the MPF upon retirement:</p>



<p>If the annual rate of return of the MPF remains at 4.4%, you can receive a total of HK$4.09 million (principal and interest) upon retirement at the age of 65. If your MPF outperforms the market and the rate of return reaches 8%, you can receive nearly HK$9.82 million upon retirement. However, if your MPF underperforms and the rate of return is only 2%, you can only receive about HK$2.5 million upon retirement.</p>



<p>Based on the average inflation rate of 3.2% over the past 10 years, HK$9.82 million, HK$4.09 million, and HK$2.5 million are only worth about HK$2.56 million, HK$1.06 million, and HK$660,000 today, which may not be sufficient to meet your retirement needs. You may still need savings and investments outside of MPF.</p>



<p>Nevertheless, it is clear that managing MPF properly can significantly enhance retirement funds. Young people have a high chance of receiving accumulative MPF benefits of millions of dollars after retirement. On the other hand, neglecting MPF will only make the already insufficient returns for retirement even more challenging.</p>



<h2>What are the 5 types of MPF and their Risk Levels? </h2>



<p>MPF can be divided into the following 5 categories, ranked from high to low risk:</p>



<ol>
<li><strong>Equity funds: </strong>Equity funds have higher risks and potential returns. They invest in single regions, areas, or global stock markets, such as Hong Kong equity funds, Asia equity funds, and international equity funds. The fund&#8217;s performance in stock markets and currency exchange rates influence stock market fluctuations.</li>



<li><strong>Mixed-asset funds: </strong>Mixed-asset funds have medium-to-high risks and primarily invest in stocks and bonds to diversify risks—generally, the higher the proportion of stocks, the higher the risk.</li>



<li><strong>Bond funds: </strong>Bond funds have medium-to-low risks and invest in bonds or debt instruments issued by governments, banks, commercial institutions, or international organizations such as the World Bank. Returns mainly come from bond interest income or profits from buying and selling bonds on the market. Bond prices may fall during interest rate hikes, and factors like exchange rate fluctuations and credit ratings can affect returns.</li>



<li><strong>Guaranteed funds:</strong> Guaranteed funds have relatively low risks and offer guarantees such as the minimum return on capital for plan members. However, most have conditions such as failure to meet the required number of contributions, withdrawals, or plan conversion within a specified period that could render the guarantee void.</li>



<li><strong>Conservative funds: </strong>Conservative funds have relatively low risks and mainly invest in Hong Kong dollar assets such as short-term bank deposits and bonds. The goal is to earn returns equivalent to Hong Kong dollar savings deposit interest rates. Although the risk is low, it may fall behind inflation.</li>
</ol>



<h2>MPF Tax Deductible Voluntary Contributions</h2>



<p>Apart from the mandatory contribution of 5% of their salary, employees can also make voluntary contributions to enhance their savings. These contributions can be divided into three categories: employee voluntary contributions, special voluntary contributions, and tax-deductible voluntary contributions. </p>



<p>Since the MPF is a long-term investment, even if an employee contributes an additional 1% of their salary each month, the effect of compounding interest can significantly increase their assets over time.</p>



<p>Use the Mandatory Provident Fund Calculator now to see how voluntary contributions can impact your retirement savings:</p>



<p><compounded-investment-calculator language="en" type="CONTRIBUTION" calculatorname="mpfFreshmanGuideline_zh MPF Calculator"></compounded-investment-calculator></p>



<h2>How to Allocate Your MPF Investment Portfolio?</h2>



<p>MPF is a long-term investment that can last for decades. Young professionals with the time to withstand market fluctuations often choose equity or mixed-asset funds with higher returns. However, high returns also mean high risks, and employees should carefully consider their risk tolerance. Diversifying investments can reduce risk.</p>



<p>If no specific instructions are given, the fund will be managed according to the &#8220;Default Investment Strategy&#8221; (DIS), commonly known as the &#8220;lazy fund.&#8221;</p>



<p>To gain a deeper understanding of a fund&#8217;s background, investment performance, fees, and other details, you should read the Fund Fact Sheet or the MPF fund platform provided by the Mandatory Provident Fund Schemes Authority.</p>



<h3>Fund Fact Sheet</h3>



<p>Many people do not read the Fund Fact Sheet carefully when they receive it. However, the Fund Fact Sheet can help you understand important information about the fund when selecting MPF investment portfolios, including:</p>



<ul>
<li><strong>Investment policy and objectives:</strong>&nbsp;Explains whether the fund aims to maintain capital or increase assets, allowing you to know whether the fund&#8217;s investment strategy meets your expectations.</li>



<li><strong>Fund size/asset value:&nbsp;</strong>Lists the fund&#8217;s total assets minus its liabilities.</li>



<li><strong>Fund type description:</strong>&nbsp;Briefly introduces the investment region of the fund and whether it belongs to the category of stocks, bonds, or mixed assets.</li>



<li><strong>Investment portfolio distribution:&nbsp;</strong>Uses charts to show the proportion of the fund&#8217;s investment in different categories of investment tools (such as stocks and bonds) and regions (such as Japan, Europe, and Hong Kong).</li>



<li><strong>Top 10 assets:&nbsp;</strong>List the top 10 securities that comprise the highest percentage of the fund&#8217;s net asset value, reflecting how the fund is deployed and its investment strategy.</li>



<li><strong>Risk indicator (or risk label):</strong>&nbsp;Reflects the potential risk and return of the fund by measuring the fund&#8217;s volatility over the past three years. Generally, the higher the value, the higher the potential risk and return.</li>



<li><strong>Fund expense ratio:&nbsp;</strong>The fund&#8217;s total expenses as a percentage of its assets will affect investor returns.</li>



<li><strong>Fund performance:&nbsp;</strong>Shows the return rate of the fund in 1 year, 5 years, 10 years, and since its launch.</li>



<li><strong>Commentary:&nbsp;</strong>Analyzes and evaluates the fund&#8217;s performance and market trends, explains the factors considered when deploying the fund, and helps you understand the market and make investment decisions.</li>
</ul>



<h2>MPF Fund Platform</h2>



<p>The MPF Authority has established an <a href="https://mfp.mpfa.org.hk/eng/mpp_index.jsp">MPF Fund Platform</a>, allowing employees to quickly access basic information and the performance history of various funds. You can filter plans and fund categories and view important data such as the fund&#8217;s return rates over the past 1, 5, and 10 years and the current management fees and fund expense ratios.</p>



<p>As MPF is a long-term investment, short-term performance should not be the sole focus. If your goal is capital preservation, pay more attention to the 5-year and 10-year return rates to assess the fund&#8217;s stability.</p>



<ul>
<li><strong>Fund Fees: </strong>When selecting an MPF scheme, besides focusing on the rate of return, it is essential to pay attention to the fund fees. Otherwise, choosing a fund with high fees may significantly reduce the actual returns earned. Through the MPF fund platform provided by the MPFA (Mandatory Provident Fund Schemes Authority), you can clearly compare the fees of different funds.</li>



<li><strong>Fund Size:</strong> Large fund size does not necessarily mean better performance. In many cases, smaller funds can outperform the market. This is because large market investors often buy or sell stocks in large quantities, and the same amount of investment returns a higher percentage for smaller funds, making it easier for them to outperform the market. Of course, these types of funds may also have higher volatility.</li>
</ul>



<h2>How to Manage your MPF in a Bear Market?</h2>



<p>Due to political and economic factors, stock markets in China, the US, and Hong Kong have been highly volatile in recent years. So how should you manage your MPF investment portfolio during a bear market? There are two main strategies:</p>



<h3>Stable Approach – Focus on hedging:</h3>



<p>Switching from high-risk and high-return funds to a stable but lower-return combination to reduce losses during market downturns.</p>



<h3>Aggressive Approach – Buy low:</h3>



<p>Despite the market downturn, you can buy more fund units with the same monthly contributions, so some people expect to buy stocks with high risk and high returns at a lower price and earn more profits when the market rebounds.</p>



<h3>Regular Review of MPF Portfolio</h3>



<p>Employees should pay attention to and regularly review the performance and accumulated assets of their MPF funds. They should consider their risk tolerance to decide whether to change their investment portfolio and be prepared for any potential risks in advance. Be sure to seek a solution before there are significant market changes. Otherwise, if you find that your MPF performance is not as expected just before your retirement, you will regret not taking action earlier.</p>



<h2>What is the &#8220;Employee Choice Arrangement&#8221;?</h2>



<p>In 2012, the Mandatory Provident Fund Schemes Authority (MPFA) introduced the &#8220;Employee Choice Arrangement&#8221; (ECA), which is commonly known as the &#8220;Semi-Self-Selected&#8221; （強積金半自由行） scheme.</p>



<p>Under this scheme, employees can transfer the accrued benefits of the mandatory contribution portion of their MPF accounts to a self-selected MPF scheme once a year. However, employees cannot move the employer&#8217;s contribution portion. The new contributions made by employees will continue to be deposited into the original scheme until the following year&#8217;s transfer opportunity.</p>



<h2>How to Handle MPF when Starting a New Job?</h2>



<p>For new graduates, job hopping may be more frequent, and it&#8217;s important not to forget to handle the old company&#8217;s MPF account. If there are no instructions after changing jobs, the accumulated benefits of the old company&#8217;s MPF plan will be transferred to the personal account and continue to be invested.&nbsp;</p>



<p>After changing jobs several times, you may have multiple MPF personal accounts. Employees can choose to manage multiple MPF accounts simultaneously or consolidate their MPF accounts.</p>



<h3>Managing Multiple MPF Accounts:</h3>



<p>From an investment perspective, holding only one MPF account may not be ideal for achieving risk diversification. Distributing contributions to plans with different trustees helps balance risk. The easiest way is to link all MPF accounts to the same MPF app, greatly saving management time.</p>



<h3>Consolidating MPF Accounts:</h3>



<p>When consolidating MPF accounts, you can choose to:</p>



<p>Transfer old contributions to the new company&#8217;s MPF account;</p>



<p>After each job change, transfer the accumulated MPF benefits from the old company to the same personal account to easily manage fund performance and investment strategy.</p>



<p>To consolidate MPF accounts, first, fill out the consolidation form and submit it to your trustee. If you forget how many MPF accounts you have, fill out and submit an inquiry Form to the MPFA or check your MPF accounts on the MPFA&#8217;s electronic platform. The easiest way to consolidate MPF accounts is to contact the trustee and let their specialists assist you.</p>



<h2>Try Planto  for Free &#8211; Intelligent Finance App for MPF Management and More</h2>



<p>Download the Planto app now and enjoy a 3-month free trial. After that, the app costs HK$38 per month or HK$388 per year. Planto users can enjoy the convenience of minimalist finance management and receive exclusive offers and financial education content.</p>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoiUGxhbnRvX0FwcCIsInR5cGUiOiJQbGFudG8iLCJhcHBseVVybCI6Imh0dHBzOi8vZ28ub25lbGluay5tZS82eXkzLzRkNjk2Y2Q3IiwiZnJvbSI6IlBsYW50b19Eb3dubG9hZCJ9">Download Planto Now</planto-button>



<h3>Recommended Readings</h3>



<ul>
<li><a href="https://www.planto.hk/en/blog/insurance-intro/">Insurance Hong Kong 101: Life, Medical, Accident &amp; Critical Illness</a></li>



<li><a href="https://www.planto.hk/en/blog/personal-loan-APR-comparison/">Personal Loan Hong Kong: Borrow with the Best Interest Rate</a></li>



<li><a href="https://www.planto.hk/en/blog/tu-credit-report-explained/">TransUnion Credit Score: How to Improve + Everything Hong Kongers Should Know</a></li>
</ul>


Managing your MPF account properly and early on can lead to significant wealth accumulation through the power of compound interest. Learn more now!

Mastering MPF Hong Kong: Ultimate Guide to Mandatory Provident Fund Scheme


<p>When it comes to insurance in Hong Kong, it&#8217;s common for individuals to be approached by agents after entering the workforce. However, if you only have a vague understanding of insurance, making informed decisions about your insurance needs can be challenging.</p>



<p>Planto is here to explain the basic concepts of insurance to help Hong Kongers understand what life insurance, medical insurance, Voluntary Health Insurance Scheme (VHIS), personal accident insurance, and critical illness insurance are. We will also share key points to note when comparing insurance plans to help you prepare for the future and find the insurance plan that is right for you.</p>



<h2>What is Insurance?</h2>



<p>Risk is an objective existence, and purchasing insurance is a means of risk management that allows policyholders to transfer risk and avoid bearing all financial risk themselves. What can be insured includes the policyholder&#8217;s life, loved ones, health, and finances.</p>



<p>Hong Kong people who participate in insurance plans can make lump sum or periodic payments to purchase coverage. When the conditions and situations specified in the insurance contract are met, policyholders can make claims to the insurance company to obtain financial compensation.&nbsp;</p>



<p>Insurance has a leveraging effect, which means the compensation the policyholder receives can be several times higher than the original premium paid.</p>



<h2>What is the Insurance Cooling-off Period?</h2>



<p>The insurance cooling-off period was initially a regulation set by the Insurance Authority in Hong Kong for life insurance policies with longer terms because purchasing a life insurance policy is an important long-term decision. There is a 21-day cooling-off period that starts from the date the policyholder receives the insurance policy or notice of insurance, whichever is earlier.</p>



<p>The cooling-off period allows policyholders time to reflect on their insurance decision; during this period, they can change their minds. If they choose to cancel the policy, they will receive a premium refund.</p>



<p>For other types of insurance policies, the length of the cooling-off period is determined by the insurance company. Currently, most policies have a cooling-off period of 14 to 21 days, and policyholders should pay attention to the exact number of days to avoid losing their rights.</p>



<h2>Making Good use of Insurance Assessment Tools</h2>



<p>Before purchasing insurance, you can use various calculation tools available in the market to assess your financial situation and plan for the future. These tools can serve as the basis for your insurance purchase decision.&nbsp;</p>



<p>For instance, the Insurance Authority has launched a &#8220;<a target="_blank" href="https://education.ia.org.hk/en/tool/calculator.html" rel="noreferrer noopener">Protection Needs Assessment Tool</a>&#8221; to estimate whether your protection coverage for the next 50 years is sufficient. It is not wise to blindly believe that the larger the sum insured, the more comprehensive the protection will be. Savvy Hong Kongers should make appropriate choices based on their life stages and needs.</p>



<h2>Main Types of Insurance in Hong Kong: Life, Health, Accident, and Critical Illness</h2>



<p>There are various insurance products available in the market that cater to personal needs. Let&#8217;s discuss the most common types of insurance that the general public in Hong Kong usually encounter.</p>



<h2>Life Insurance in Hong Kong</h2>



<p>Life insurance provides a cash benefit to the designated beneficiary of the policyholder upon the insured&#8217;s death, regardless of whether the cause of death is natural or accidental. This compensation helps the beneficiary cover the unexpected financial expenses that arise after the insured&#8217;s death.</p>



<p>Life insurance is generally divided into term life insurance and whole life insurance. Term life insurance provides coverage only for a specific period, and the contract expires afterward. On the other hand, whole life insurance provides coverage until the insured reaches the age of 100, and the insurance company usually pays the benefit after the contract expires.</p>



<h2>Health Insurance in Hong Kong</h2>



<p>Health insurance primarily covers medical expenses related to illness or injury. Claims are reimbursed based on the actual medical costs incurred. The coverage usually includes both inpatient and outpatient medical expenses.</p>



<p>Hong Kong insurance for health typically includes coverage for inpatient and outpatient medical expenses. Inpatient coverage contains costs related to hospitalization, such as room and board, doctor&#8217;s fees, surgical fees, and miscellaneous expenses.&nbsp;</p>



<p>Outpatient coverage, on the other hand, includes costs related to visits to general practitioners, prescription drugs, and laboratory tests. Some policies may also cover expenses related to traditional Chinese medicine, physical therapy, and chiropractic care. VHIS is a type of health insurance that meets high standards set by the government to ensure good quality coverage for policyholders.</p>



<h2>Personal Accident Insurance in Hong Kong</h2>



<p>As the name suggests, accident insurance covers unexpected and unforeseeable bodily injuries caused by accidents. These can include car accidents, injuries caused by falling objects, and injuries sustained while riding public transportation. However, accident insurance does not cover sudden medical conditions like heart attacks. Therefore, clarifying the coverage with the insurance broker or agent before purchasing a policy is essential.</p>



<h2>Critical Illness Insurance in Hong Kong</h2>



<p>Critical illness insurance provides a cash benefit if the insured is diagnosed with a severe illness that threatens their life and meets the definition of critical illness specified in the policy. The policy stipulates the illnesses covered and the criteria for each illness. Common critical illnesses include cancer, heart disease, and stroke. The length of the illness can also affect the eligibility for compensation and the amount of compensation the insured can receive.</p>



<h2>Things to Consider When Comparing Insurance Policies</h2>



<h2>Premiums&nbsp;</h2>



<p>When considering insurance in Hong Kong, it is natural to focus on the price. However, it&#8217;s important to remember that insurance is a long-term expense, and consumers should evaluate policies based on their long-term financial impact.</p>



<p>To avoid bias, it&#8217;s essential to compare policies from different insurance companies using equal terms, such as the terms and coverage listed on the policy. It&#8217;s also crucial to purchase insurance that meets your needs rather than solely selecting a policy because it is cheap.</p>



<h2>Coverage</h2>



<p>Each policy has its coverage, and the terms and regulations listed on the policy will indicate the period during which the policy is effective, and the insured can receive compensation after a specific event or accident occurs. The coverage may differ even if it is the same type of policy.</p>



<p>In addition, you should pay attention to the amount of compensation. For example, when buying life insurance, you may not necessarily seek the maximum coverage, but you can also realize asset appreciation through life insurance with savings components. Please calculate carefully the compensation amount or expected policy value that meets your needs based on your family&#8217;s future needs.</p>



<h2>Exclusions&nbsp;</h2>



<p>Exclusions are a critical aspect of buying insurance in Hong Kong, referring to items or situations not covered by an insurance policy. It&#8217;s crucial to understand that no policy can cover all risks or accidents, and insurance companies use exclusions to control their risks.</p>



<p>While exclusions are rarely mentioned in insurance advertisements, they are always listed in the policy contract. It&#8217;s essential to carefully review the list of non-covered items in the policy before purchasing to avoid finding out later that you are not eligible for compensation. This can be financially detrimental and may lead to unnecessary expenses.</p>



<h2>FAQ About Buying Insurance in Hong Kong</h2>



<div class="schema-faq wp-block-yoast-faq-block"><div class="schema-faq-section" id="faq-question-1678948295057"><strong class="schema-faq-question">Is buying insurance from an insurance company safe and reliable? </strong> <p class="schema-faq-answer">In Hong Kong, the insurance industry is regulated by the Insurance Companies Ordinance and the Insurance Authority. Insurance companies must ensure sufficient capital, adequate claims reserves, actuarial reserves, and adequate reinsurance arrangements before they can operate.<br/><br/>Moreover, the Hong Kong government appoints appointed actuaries to insurance companies to monitor their operations internally and prevent the misreporting of risks. Insurance sales are also subject to regulation, so consumers need not worry too much.</p> </div> <div class="schema-faq-section" id="faq-question-1678948315958"><strong class="schema-faq-question">Can I file a complaint if there is a monetary dispute regarding the policy? </strong> <p class="schema-faq-answer">Apart from complaining to the insurance company where you purchased the policy, all monetary disputes related to personal policies can be queried or complained to the Insurance Complaints Bureau. Complainants must fill out a complaint form and submit it with the required document copies via mail, fax, or email. <br/><br/>Telephone number: 2520 2728 <br/>Fax number: 2520 1967 <br/>Mailing address: 29/F, Sunshine Plaza Building, 353 Lockhart Road, Wan Chai, Hong Kong <br/>Email: <a href="mailto:icb.enquiry@icb.org.hk" target="_blank" rel="noreferrer noopener">icb.enquiry@icb.org.hk</a></p> </div> </div>



<p></p>


In Hong Kong, the insurance industry is regulated by the Insurance Companies Ordinance and the Insurance Authority. Insurance companies must ensure sufficient capital, adequate claims reserves, actuarial reserves, and adequate reinsurance arrangements before they can operate.<br/><br/>Moreover, the Hong Kong government appoints appointed actuaries to insurance companies to monitor their operations internally and prevent the misreporting of risks. Insurance sales are also subject to regulation, so consumers need not worry too much.

Is buying insurance from an insurance company safe and reliable? 

Apart from complaining to the insurance company where you purchased the policy, all monetary disputes related to personal policies can be queried or complained to the Insurance Complaints Bureau. Complainants must fill out a complaint form and submit it with the required document copies via mail, fax, or email. <br/><br/>Telephone number: 2520 2728 <br/>Fax number: 2520 1967 <br/>Mailing address: 29/F, Sunshine Plaza Building, 353 Lockhart Road, Wan Chai, Hong Kong <br/>Email: <a href="mailto:icb.enquiry@icb.org.hk" target="_blank" rel="noreferrer noopener">icb.enquiry@icb.org.hk</a>

Can I file a complaint if there is a monetary dispute regarding the policy? 

Planto is here to explain the basic concepts of insurance to help Hong Kongers understand what life insurance, medical insurance, Voluntary Health Insurance Scheme (VHIS), personal accident insurance, and critical illness insurance are. 

Insurance Hong Kong 101: Life, Medical, Accident & Critical Illness


<p>Before borrowing any <a href="https://www.planto.hk/en/blog/personal-loan-APR-comparison/">personal loan</a>, you must clearly understand the borrowing costs. Planto has created a simple personal loan interest rate and repayment calculator that can calculate your monthly repayment amount and total interest expense by simply entering the loan amount, repayment period, and actual annual percentage rate (APR).</p>



<loan-repayment-calculator lang="en"></loan-repayment-calculator>



<h2>Explanation of Personal Loan Calculator Terminology</h2>



<h3>Loan Amount</h3>



<p>The loan amount refers to the total amount of money borrowed by the borrower from the lending institution. The lending institution will determine the amount of loan to be approved based on various factors such as the borrower&#8217;s income, credit history, occupation, and more. Deciding the loan amount based on personal needs and repayment capability is essential when borrowing money.</p>



<h3>Actual Annual Percentage Rate (APR)</h3>



<p>The actual annual percentage rate is a loan interest rate calculation method designated by the Hong Kong Association of Banks. It reflects the final rate obtained after calculating interest, handling fees, and all other costs. When all other conditions are the same, the lower the actual annual percentage rate, the lower the borrower&#8217;s loan interest expense.</p>



<p>Most banks and financial companies do not charge handling fees and finance charges to personal installment loan applicants. Therefore, interest expense is the main cost of borrowing a personal loan, and it is crucial to consider the actual annual percentage rate when choosing a loan.</p>



<h3>Tenor</h3>



<p>Most personal installment loans in Hong Kong require borrowers to repay monthly, which can last up to 60 months or more. A more extended tenor means lower monthly payments but higher interest costs in the long run. Conversely, the shorter tenor, the higher the monthly payments, but the lower the total interest costs.</p>



<h3>Monthly Repayment</h3>



<p>The monthly repayment refers to the principal and interest that the borrower pays to the lending institution each month. The lending institution uses the &#8220;78 Law&#8221; to determine the ratio of principal and interest in the repayment amount. Although the monthly repayment amount of an installment loan is fixed, the ratio of principal and interest will gradually change, with interest accounting for a higher proportion in the early stages of repayment and principal accounting for less. As the repayment progresses, the interest ratio in the repayment amount will decrease.</p>



<h3>Total Interest Expenses</h3>



<p>Total interest expenses refer to the actual monthly interest paid over the entire repayment period. Assuming that the loan amount and repayment term remain the same, the higher APR, the more total interest expenses will be paid.</p>



<loan-table> language=&#8221;en&#8221; </loan-table>



<h2>FAQs about Personal Loan Calculators</h2>



<div class="schema-faq wp-block-yoast-faq-block"><div class="schema-faq-section" id="faq-question-1678935651203"><strong class="schema-faq-question">Are there any other costs besides interest when borrowing a personal loan?</strong> <p class="schema-faq-answer">Interest expense is the main cost of a personal loan. In addition, lending institutions may charge administrative and financial fees such as handling fees, late payment penalties, and prepayment fees based on the nature of the product and the individual borrower&#8217;s loan conditions.</p> </div> <div class="schema-faq-section" id="faq-question-1678935666490"><strong class="schema-faq-question">Why do the results of personal loan calculators differ from the repayment plans offered by lending institutions?</strong> <p class="schema-faq-answer">Planto&#8217;s personal loan calculator calculates the interest rate based on the APR, while some lending institutions may include cash rebates or other discounts and loan costs in their APR, resulting in different results. Borrowers should rely on the final terms and information provided by the lending institution.</p> </div> </div>


Interest expense is the main cost of a personal loan. In addition, lending institutions may charge administrative and financial fees such as handling fees, late payment penalties, and prepayment fees based on the nature of the product and the individual borrower's loan conditions.

Are there any other costs besides interest when borrowing a personal loan?

Planto's personal loan calculator calculates the interest rate based on the APR, while some lending institutions may include cash rebates or other discounts and loan costs in their APR, resulting in different results. Borrowers should rely on the final terms and information provided by the lending institution.

Why do the results of personal loan calculators differ from the repayment plans offered by lending institutions?

Planto has created a simple personal loan interest rate and repayment calculator that can calculate your monthly repayment amount and total interest expense by simply entering the loan amount, repayment period, and actual annual percentage rate (APR).

Personal Loan Calculator: Get Monthly Repayment Estimates Now


<p><strong>👉 Borrowing Money Guide 2023: </strong>Hong Kong is still in a period of rising interest rates this year, making borrowing money a scarce opportunity. Choosing loan products requires extraordinary astuteness and caution. </p>



<p>Banks or financial companies provide online instant loans if you urgently need funds. Borrowers can receive preliminary approval within minutes and withdraw the loan within an hour. 🎁 Take a look at the table below for the borrowing promotions available:</p>



<h2>Comparison of Loan Interest Rates among Banks and Financial Institutions</h2>



<loan-table> language=&#8221;en&#8221; </loan-table>



<p>Life is full of ups and downs. If you&#8217;re faced with major life events such as starting a business, buying a property, furthering your education, or undergoing surgery and need immediate funding, borrowing money is the most direct solution.</p>



<p>In Hong Kong, there are many channels for borrowing loans, each with pros and cons. Below, we summarize the advantages and disadvantages of different borrowing methods, teaching you how to choose your most suitable borrowing path.</p>



<h2>1) Borrowing Money Through Banks and Financial Companies</h2>



<p>Nowadays, banks and financial institutions offer many private loan products, which can be broadly categorized into secured and unsecured loans. Secured loans include mortgages, cash-out refinancing, car loans, etc. These loans typically involve collateral, which allows borrowers to secure higher loan amounts and lower interest rates. The maximum amount that can be borrowed depends on the value of the collateral, and in the event of default, the lender has the right to repossess the collateral.</p>



<p>Alternatively, unsecured loans, such as tax loans, balance transfers, and&nbsp;<a target="_blank" href="https://www.planto.hk/en/blog/personal-loan-APR-comparison/" rel="noreferrer noopener">personal installment loans</a>, are also available. The loan amount that can be obtained depends on the borrower&#8217;s income and credit history. When applying for an unsecured loan, documents such as proof of income and address are typically required, and the interest rates tend to be slightly higher than those for secured loans.</p>



<h2>2) Borrowing Money Through Online Loans with No Documentation Required</h2>



<p>For individuals with unstable income or self-employed status, applying for a private loan can be difficult due to the inability to provide income documentation. In such cases, &#8220;no documentation loans&#8221; provided by banks and financial institutions can be viable.&nbsp;</p>



<p>These loans enable borrowers to skip certain specified documents, with the most common exemption being income proof, which typically includes pay slips and tax returns. All that is required is a valid ID and proof of address to apply for a private loan, and in some cases, even the latter can be waived.&nbsp;</p>



<p>The application process is streamlined, and many lenders offer online submission of required documents, with approval times as fast as 30 minutes, catering to the needs of those requiring immediate cash flow.</p>



<p>However, as the name implies, no documentation loans come with a catch. The loan amount approved for such loans is usually lower due to the lack of documentation, and because lenders have less stringent requirements for proof of income and address, there is a higher risk of default. As a result, interest rates for these loans tend to be higher than those for regular private loans. Exercising prudence and weighing the risks before borrowing under such circumstances is essential.</p>



<h2>3) Borrowing Money from Relatives and friends&nbsp;</h2>



<p>When faced with unexpected financial difficulties, seeking help from trusted family and friends is often the quickest solution. Borrowing money from them is the easiest method, as it doesn&#8217;t require income verification, interest payments, or even a repayment deadline.&nbsp;</p>



<p>However, the amount that can be borrowed depends on the relationship between the borrower and the lender and the lender&#8217;s financial situation. It may only sometimes be enough to solve the borrower&#8217;s financial problems. Although borrowing money from family and friends doesn&#8217;t require a formal repayment deadline, the proverbial saying &#8220;money talks, but it also ruins relationships&#8221; applies. Repaying the loan on time can maintain the relationship, so it&#8217;s best to establish a repayment plan and gradually pay off the debt to avoid awkwardness when meeting with the lender.</p>



<p>When borrowing money from family and friends, the borrower will inevitably be asked about the reason for the loan. Additionally, without a confidentiality agreement, the news of the loan could spread among other family and friends. Therefore, it&#8217;s essential to consider the impact on your relationship before asking for a loan from friends and family.</p>



<h2>4) Cashing Out Money Through Credit Cards&nbsp;</h2>



<p>Another method of borrowing money is to use credit cards to withdraw cash. Many Hong Kong residents have several credit cards, and when needing immediate cash, they may use their credit card limit to withdraw extra money.&nbsp;</p>



<p>The credit card limit can be used for cash overdrafts, meaning that cash can be withdrawn directly from ATMs, depending on the credit limit. However, the annual interest rate on credit cards can be as high as 40%, and interest is calculated daily. If the borrower doesn&#8217;t repay the amount in full on time, they may incur monthly processing fees.</p>



<p>Another way to obtain money from a credit card is through a cash advance, which requires the borrower to apply to the bank. No income proof is needed, and the loan can be approved within one to two working days. The loan amount depends on the credit limit of the credit card and the borrower&#8217;s credit status, and the annual interest rate can be as low as 3%.</p>



<h2>Never Attempt to Borrow from Loan Sharks</h2>



<p>When in urgent need of money, it is easy to resort to desperate measures. Every day we may receive multiple loan offers from anonymous calls, claiming that no proof of income or identification is necessary and that we simply need to complete a few simple procedures to borrow the money we need.&nbsp;</p>



<p>However, being wary of these unknown lenders is important, as they may be loan sharks (大耳窿). These easy-to-obtain loans may come with exorbitant interest rates and handling fees.</p>



<p>There was once a case in Hong Kong where a borrower borrowed HK$2,000 from a loan shark, but after deducting the relevant fees, the borrower only received HK$1,400. The borrower had to pay HK$200 per week in interest and was asked to pay an additional HK$5,000 in extra interest due to late repayment. In the end, the borrower paid back HK$20,200 within 7 days, but the loan shark continued to demand repayment for different reasons.</p>



<p>After borrowing from a loan shark, the debt can quickly spiral out of control. Even more frightening is that loan sharks may use different methods to intimidate borrowers into repayment, such as harassing their family and neighbors, pouring red paint, or even threatening the borrowers to take nude photos. Therefore, it is crucial to avoid loan sharks, as it could lead to even more severe consequences.</p>



<h3>Recommended Readings</h3>



<ul>
<li><a href="https://www.planto.hk/en/blog/personal-loan-APR-comparison/">Personal Loan Hong Kong: Borrow with the Best Interest Rate</a></li>



<li><a href="https://www.planto.hk/en/blog/tu-credit-report-explained/">TransUnion Credit Score: How to Improve + Everything Hong Kongers Should Know</a></li>
</ul>


Banks or financial companies provide online instant loans if you urgently need funds. Borrowers can receive preliminary approval within minutes and withdraw the loan within an hour. 

How to Instantly Borrow Money Online in Hong Kong: Your Guide to Quick and Easy Funding


<p>Bitcoin had a strong performance in 2021, with its price reaching almost US$70,000 at one point. However, it dropped below US$50,000 in December and weakened further in 2022. As of March 2023, its price still lingers around US$20,000.</p>



<p>Despite the high volatility of cryptocurrency prices, which poses significant risks, many retail investors are still drawn to them. The rise of NFTs and the metaverse has made the cryptocurrency market even more lively. Many hope to make a fortune by investing in cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin.</p>



<p>For novices investing in the cryptocurrency market for the first time, they may be frightened by unfamiliar jargon and trading procedures. In recent years, many online platforms have greatly simplified cryptocurrency trading modes. By comparing the fees charged by different cryptocurrency platforms, beginners can learn how to invest in Bitcoin, Ethereum, and other cryptocurrencies or virtual currencies.</p>



<h2>Comparison of Online/Offline Trading Modes for Cryptocurrencies</h2>



<p>There are numerous ways to trade Bitcoin online—investors can easily conduct transactions through the platform&#8217;s website or mobile app. Investors may also transfer cryptocurrencies through offline channels. When selecting a trading mode, various factors such as convenience, transaction security, transaction costs, and storage methods should be considered. The following are some commonly used trading methods in Hong Kong:</p>



<h2>Buying Bitcoins through Spot Trading on Online Exchanges</h2>



<p>The easiest way to purchase cryptocurrencies is through spot trading on platforms such as Binance, Matrixport, Kikitrade, Huobi, Tidebit, and Myethshop. These platforms, which declared themselves as &#8220;exchanges,&#8221; &#8220;currency exchange shops,&#8221; or &#8220;trading platforms,&#8221; are straightforward to use. Standard payment methods include Mastercard, Visa cards, and bank transfers, which may vary depending on the platform.</p>



<p>Crypto exchanges such as Binance and Matrixport support purchasing cryptocurrencies using credit or debit cards. The process for different platforms is relatively similar. After entering the Hong Kong or US dollar amount on the purchase section of the platform, the user will then see the amount of cryptocurrency they can purchase. After entering and confirming credit card information and transaction details, the user can complete the transaction, and the purchased cryptocurrencies generally appear in the account within minutes.</p>



<p>Using credit or debit cards to purchase Bitcoin is advantageous because it is convenient, fast, and secure.<strong> However, the transaction fee can be as high as 5%,</strong> and most credit cards do not offer cashback for buying cryptocurriencies.</p>



<h2>Over-the-Counter (OTC) Trading through Online Crypto Exchanges&nbsp;</h2>



<p>In addition to buying Bitcoin directly from trading platforms, many cryptocurrency exchanges provide users with OTC trading services, also known as &#8220;off-exchange trading,&#8221; &#8220;C2C,&#8221; or &#8220;peer-to-peer.&#8221; Binance is a popular platform offering this type of trading.</p>



<p>During an OTC trade, the trading platform acts as an intermediary, matching buyers and sellers. The process is similar to that of an online marketplace:</p>



<ul>
<li>Sellers list their cryptocurrencies for sale on the platform.</li>



<li>Buyers contact sellers through the platform to purchase cryptocurrencies.</li>



<li>Both parties agree on the trade volume, settlement currency, and transfer method.</li>



<li>Before the buyer makes a payment, the platform freezes the seller&#8217;s cryptocurrencies on the exchanges.</li>



<li>After the buyer completes payment, the seller confirms the trade with the platform, transferring the cryptocurrencies to the buyer&#8217;s account.</li>
</ul>



<p>Since trading platforms conduct KYC on their customers and regulate their transactions, OTC trading can help reduce the risk of fraud. If disputes arise, the platform can assist with dispute resolution, although it cannot completely eliminate risks. OTC trading also incurs lower transaction costs than buying Bitcoins with a credit card.</p>



<p>When purchasing Bitcoins through P2P trading, the price is subject to negotiation between the two parties, and there may be a significant price differential. Many investors buy stablecoins like USDT through OTC trading due to their stable prices. Then, they can use USDT to trade other cryptocurrencies on the exchanges.</p>



<h2>P2P Offline Trading of Cryptocurrencies</h2>



<p>P2P offline trading is the most primitive way of buying and selling cryptocurrencies. It operates in the same way as trading any second-hand physical products. After the buyer and seller obtain contact information through online platforms, they directly meet and settle the transaction process through mutual agreement. For example, they can exchange a hard drive containing Bitcoin for cash face-to-face. This transaction method was once popular when online Bitcoin exchanges were not yet prevalent.</p>



<p>The advantage of buying cryptocurrencies through the P2P offline model is that it eliminates the need for intermediary platforms. However, the trading risk is higher as the buyer and seller do not know each other&#8217;s backgrounds. In Hong Kong, for example, there have been cases where people were robbed while conducting face-to-face Bitcoin transactions. When conducting P2P transactions, buyers and sellers must be careful and vigilant to prevent similar robbery or fraud cases from happening.</p>



<h2>Buying Bitcoins with Cash Through a Bitcoin ATM</h2>



<p>A Bitcoin ATM is not a traditional automated teller machine offered by banks. It is a self-service machine used to buy and sell popular cryptocurrencies such as Bitcoin, Ethereum, and Bitcoin Cash.</p>



<p>Buying Bitcoins through a Bitcoin ATM is simple and fast. Generally, all that is needed is to set up an account, deposit funds, and scan a QR code from a cryptocurrency wallet to complete the transaction within minutes. In Hong Kong, suppliers such as HK Bitcoin ATM and CoinUnited.io offer Bitcoin ATMs, and there are also suppliers in other areas. However, transaction fees are generally higher, and a price differential may exist.</p>



<h2>Cryptocurrency Storage Methods: Cold Wallet vs Hot Wallet</h2>



<p>Cryptocurrencies like Bitcoin are virtual assets that do not exist physically, and all Bitcoin transaction records are stored publicly and anonymously on the blockchain. Investors must possess their private keys to prove that they own the corresponding cryptocurrency on the blockchain and therefore control their assets.</p>



<p>Cryptocurrency wallets are mediums for storing private keys and are divided into &#8220;cold wallets&#8221; and &#8220;hot wallets.&#8221;</p>



<h3>Cold Wallet: Offline Storage of Private Keys</h3>



<p>A cold wallet is an offline wallet not connected to the internet. The most primitive method is to manually copy the private key onto paper, which is prone to errors or loss. Therefore, most cold wallets come in hard drives or USB thumb drives.</p>



<p>Popular cold wallet hardware suppliers include Trezor, Ledger, and KeepKey, with prices starting from several hundred dollars. These cold wallets are equipped with encryption functions, providing greater asset security.</p>



<p>Since cold wallets store private keys offline, the risk of hackers stealing private keys is significantly reduced. However, since cryptocurrency transactions are often conducted online, trading with cold wallets is relatively inconvenient.</p>



<h3>Hot Wallet: Online Storage of Private Keys</h3>



<p>A hot wallet, also known as an online wallet, is the opposite of a cold one. It is a cryptocurrency wallet stored online, accessible via mobile apps or websites, and allows investors to trade cryptocurrencies quickly.</p>



<p>While hot wallets are easy and convenient, they are also vulnerable to successful hacker attacks. Therefore, investors should avoid storing large amounts of cryptocurrency in a single hot wallet.</p>



<h3>Storing Assets on an Exchange</h3>



<p>Cryptocurrency exchanges generally provide asset custody services to users, a type of hot wallet. After users buy cryptocurrency through the platform, they do not possess the private key. However, the advantage is that it is incredibly convenient. Users do not need to manage their wallets and can log in to the platform to operate cryptocurrencies at any time, just like trading in a stock account.</p>



<p>Exchanges store customer assets using both cold and hot wallets. While exchanges take network security measures, it does not mean that there is no security risk, as everyone knows that exchanges hold large amounts of cryptocurrency and are easy targets for hackers. In addition, during significant market fluctuations, exchanges have temporarily suspended fund withdrawal services. Therefore, long-term investors should not store large cryptocurrency assets on exchanges.</p>



<h2>Earning Saving Interest from Stablecoins</h2>



<p>Earning interest on stablecoins is a stable investment strategy that does not require frequent trading and can provide up to 10% APY returns. Cryptocurrency platforms such as Binance, Matrixport, and Celsius Network support earning interest on stablecoins, with various options for payout frequency, such as monthly, weekly, daily, or even hourly. By utilizing stablecoin savings plans, investors can earn returns on idle funds before investing in other cryptocurrencies.</p>



<p>Some platforms support earning interest on cryptocurrencies like Bitcoin and Ethereum, but investors should be aware that the values of these cryptocurrencies are less stable than stablecoins pegged to the US dollar, which can result in the risk of earning interest but losing on the cryptocurrency&#8217;s value.</p>



<p>Another investment strategy for those who believe in the potential of Bitcoin or other cryptocurrencies is to invest in cryptocurrency-related stocks or ETFs on the US or Hong Kong stock market. This strategy offers the advantage of avoiding the risk of losing private keys and having a diversified portfolio to mitigate volatility in the cryptocurrency market.&nbsp;</p>



<p>However,<strong> investing in concept stocks or ETFs can result in tracking errors or premiums compared to direct investment in cryptocurrency. </strong>Also, stock markets have limited trading hours, unlike the 24/7 trading of cryptocurrencies, which can cause missed opportunities to buy or sell assets.</p>



<p>In October 2021, the first Bitcoin futures ETF, ProShares Bitcoin ETF (BITO), was listed on the US stock market with an expense ratio of 0.95%, providing investors with a simple way to invest in Bitcoin. There are also three virtual asset futures ETFs listed on the Hong Kong stock market, but they do not directly hold Bitcoin and instead invest in related futures contracts.</p>



<h2>Compare Investment Account and Enjoy New Customer Promotions Today</h2>



<p><broker-comparison-page articlename="HK Stock Investing Article" country="US" language="en"></broker-comparison-page></p>



<h2>FAQs About Investing in Bitcoin/Crypto</h2>



<div class="schema-faq wp-block-yoast-faq-block"><div class="schema-faq-section" id="faq-question-1678341338388"><strong class="schema-faq-question">What is Bitcoin?</strong> <p class="schema-faq-answer">Bitcoin was first proposed by the pseudonymous figure &#8220;Satoshi Nakamoto&#8221; in 2008 in a whitepaper titled &#8220;Bitcoin: A Peer-to-Peer Electronic Cash System.&#8221; It utilizes decentralized and cryptographic technology to facilitate secure, transparent, anonymous, and tamper-proof transactions. Bitcoin was the first widely-known cryptocurrency, and since then, various other cryptocurrencies have emerged, including Ethereum, Dogecoin, Ripple, Litecoin, Tether, and Bitcoin Cash.</p> </div> <div class="schema-faq-section" id="faq-question-1678341179238"><strong class="schema-faq-question">What is Bitcoin/crypto, and how does it work? </strong> <p class="schema-faq-answer">Bitcoin/crypto is a decentralized digital currency that operates on a peer-to-peer network, which means any central authority or government does not control it. Transactions are recorded on a public ledger called the blockchain, which allows for secure and transparent transactions.</p> </div> <div class="schema-faq-section" id="faq-question-1678341201550"><strong class="schema-faq-question">What are the risks of investing in Bitcoin/Crypto?</strong> <p class="schema-faq-answer">Investing in Bitcoin/crypto can be risky due to its high volatility and lack of regulation. The value of Bitcoin/crypto can fluctuate rapidly and dramatically, resulting in significant gains or losses. Additionally, crypto exchanges and wallets can be vulnerable to hacks and other security breaches.</p> </div> <div class="schema-faq-section" id="faq-question-1678341224781"><strong class="schema-faq-question">How do I store my Bitcoin/Cryptocurrencies? </strong> <p class="schema-faq-answer">You can store your Bitcoin/crypto in a digital wallet on your computer or a hardware device such as a Ledger or Trezor. It is important to keep your wallet and private keys secure to prevent unauthorized access.</p> </div> <div class="schema-faq-section" id="faq-question-1678341273715"><strong class="schema-faq-question">What are some strategies for investing in Bitcoin/crypto? </strong> <p class="schema-faq-answer">ome strategies for investing in Bitcoin/crypto include long-term holding, dollar-cost averaging, and active trading. It is important to do your own research and understand each strategy&#8217;s risks and potential rewards.</p> </div> </div>


Bitcoin was first proposed by the pseudonymous figure "Satoshi Nakamoto" in 2008 in a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." It utilizes decentralized and cryptographic technology to facilitate secure, transparent, anonymous, and tamper-proof transactions. Bitcoin was the first widely-known cryptocurrency, and since then, various other cryptocurrencies have emerged, including Ethereum, Dogecoin, Ripple, Litecoin, Tether, and Bitcoin Cash.

What is Bitcoin?

Bitcoin/crypto is a decentralized digital currency that operates on a peer-to-peer network, which means any central authority or government does not control it. Transactions are recorded on a public ledger called the blockchain, which allows for secure and transparent transactions.

What is Bitcoin/crypto, and how does it work? 

Investing in Bitcoin/crypto can be risky due to its high volatility and lack of regulation. The value of Bitcoin/crypto can fluctuate rapidly and dramatically, resulting in significant gains or losses. Additionally, crypto exchanges and wallets can be vulnerable to hacks and other security breaches.

What are the risks of investing in Bitcoin/Crypto?

You can store your Bitcoin/crypto in a digital wallet on your computer or a hardware device such as a Ledger or Trezor. It is important to keep your wallet and private keys secure to prevent unauthorized access.

How do I store my Bitcoin/Cryptocurrencies? 

ome strategies for investing in Bitcoin/crypto include long-term holding, dollar-cost averaging, and active trading. It is important to do your own research and understand each strategy's risks and potential rewards.

What are some strategies for investing in Bitcoin/crypto? 

Looking to buy Bitcoin in Hong Kong? Our comprehensive guide covers the best ways to buy, store and trade Bitcoin safely and securely in Hong Kong.






How to Buy Bitcoin in Hong Kong? A Guide to Cryptocurrency Investment


<p>When applying for credit products like credit cards, loans, or mortgages in Hong Kong, lenders typically request to review your credit report. Your TransUnion (TU) credit report is crucial in determining the loan application result and interest rates, which can significantly impact your personal finance. How much do you know about your TU credit report and score? Read on to discover some common questions about TU credit report and how it works.</p>



<h2>What is a TransUnion Credit Report?&nbsp;</h2>



<p>In Hong Kong, as long as you have applied for a credit card or personal loan, you will have a credit report. TransUnion is the only institution that provides personal credit reports in Hong Kong. Your credit card application, loan application, repayment, and overdue records are all recorded in TransUnion&#8217;s database, which makes up your credit report.</p>



<p>Your TU credit report contains the following information:</p>



<ul>
<li><strong>Personal information:</strong>&nbsp;Name, ID number, address, and phone number</li>



<li><strong>Credit account information:&nbsp;</strong>Credit usage and overdue repayment records</li>



<li><strong>Public records:</strong>&nbsp;Debt collection, bankruptcy, and liquidation lawsuits</li>



<li><strong>Inquiry records:&nbsp;</strong>The inquiry records of TransUnion members (banks and financial institutions) in the past two years.</li>



<li><strong>Credit score:&nbsp;</strong>A summary of your credit rating, with a total of 10 levels, with A being the highest and J being the lowest.</li>
</ul>



<p>Your credit score is a vital aspect of your credit report. When borrowing money, those with an A-grade credit score have a greater chance of obtaining the bank&#8217;s best interest rate, with an actual annual percentage rate (APR) of less than 5%. In contrast, for J-grade credit scores, the interest rate can be as high as 45% or more, resulting in significant differences in interest expenses.</p>



<figure class="wp-block-table"><table><tbody><tr><td><strong>Grades</strong></td><td><strong>Credit Level</strong></td><td><strong>Credit Score</strong></td></tr><tr><td>A</td><td>Excellent</td><td>3526 – 4000</td></tr><tr><td>B</td><td>Good</td><td>3417 – 3525</td></tr><tr><td>C</td><td>Good</td><td>3240 – 3416</td></tr><tr><td>D</td><td>Averaged</td><td>3214 – 3239</td></tr><tr><td>E</td><td>Averaged</td><td>3143 – 3213</td></tr><tr><td>F</td><td>Averaged</td><td>3088 – 3142</td></tr><tr><td>G</td><td>Poor</td><td>2990 – 3087</td></tr><tr><td>H</td><td>Poor</td><td>2868 – 2989</td></tr><tr><td>I</td><td>Poor/Near Bankrupt</td><td>1820 – 2867</td></tr><tr><td>J</td><td>Poor/Near Bankrupt</td><td>1000 – 1819</td></tr></tbody></table></figure>



<h2>Factors that Affect Credit Scores&nbsp;</h2>



<p>Various factors affect your credit score, including:</p>



<ul>
<li>Repayment history</li>



<li>Credit inquiry records</li>



<li>The ratio of credit usage</li>



<li>Length of credit history</li>



<li>Type of credit account</li>
</ul>



<p>Among these factors, repayment history has the most significant impact on your credit score. If you have ever defaulted on a credit card or missed a repayment, it will be recorded in your credit report. Even if you were just one day late in repayment, this record would be kept for 5 years. Therefore, paying attention to the repayment date and repay on time is essential.</p>



<h2>When Will Credit Reports Be Checked?</h2>



<p>When applying for a mortgage or personal loan, banks or financial institutions will request borrowers to sign a data-sharing consent form and obtain the applicant&#8217;s credit report from the credit rating agency to determine whether the applicant is a reliable borrower. This process can affect the final result and amount of the loan granted.&nbsp;&nbsp;</p>



<p>If there are multiple hard inquiries in a short period, it will cause the credit score to decrease. Therefore, it is best to avoid applying for loans from too many institutions simultaneously.</p>



<p>In some cases, if the bank or financial institution believes that they have sufficient information on the credit usage status of their existing customers, they may approve credit products without checking the credit report.</p>



<h2>How to Improve Your Credit Score?&nbsp;</h2>



<p>Maintaining a good credit score is essential to accessing credit for big-ticket items such as homes, cars, and other <a href="https://www.planto.hk/en/blog/personal-loan-APR-comparison/">personal loans</a>. Many may wonder if using only cash and not applying for credit cards or loans will give you a high score. In fact, this will result in a blank credit history and will not help your score. To improve your credit score, you should:</p>



<ul>
<li>Make timely payments every month and pay off all bills</li>



<li>Regularly check your credit report and promptly correct any problematic information</li>



<li>Avoid applying for too many loans to maintain a good credit history</li>
</ul>



<h2>How to Check Your TU Credit Score?&nbsp;</h2>



<p>TransUnion allows you to access your credit report directly in two ways:</p>



<h3>Option 1: Directly Obtain Your TU Credit Report</h3>



<p>You can directly obtain your TU credit report by making an appointment online and bringing your identification documents and a valid address proof issued within the last three months to the TransUnion office at Suite 811, 8th Floor, Tower 5, The Gateway, 15 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong. The cost is HK$280; payment can be made by VISA/Mastercard or cash.</p>



<h3>Option 2: Check Your TU Credit Report for Free</h3>



<p>Suppose a bank or financial institution has rejected your credit application (including credit cards, loans, and mortgages), and they have previously obtained your credit report from TransUnion. In that case, you will receive a rejection letter. You can then follow the instructions in the letter to get a free credit report from TransUnion.</p>



<h2>Find the Best Personal Loan Offers in Hong Kong</h2>



<loan-table> language=&#8221;en&#8221; </loan-table>



<h2>FAQs about TU Credit Report</h2>



<div class="schema-faq wp-block-yoast-faq-block"><div class="schema-faq-section" id="faq-question-1678262026829"><strong class="schema-faq-question">How much does it cost to obtain a TU Credit Report?</strong> <p class="schema-faq-answer">The cost to obtain a TU Credit Report is HK$280, and you can do this in person at the TransUnion office or online.</p> </div> <div class="schema-faq-section" id="faq-question-1678262080591"><strong class="schema-faq-question">How to check TU Credit Report for free?</strong> <p class="schema-faq-answer">If you have been rejected for a credit card, loan, or mortgage by a bank or financial institution, and they have previously obtained your credit report from TransUnion, then you can apply for a free credit report from TransUnion with the rejection letter.</p> </div> </div>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h3>Recommended Readings</h3>



<ul>
<li><a href="https://www.planto.hk/en/blog/personal-loan-APR-comparison/">Personal Loan Hong Kong: Borrow with the Best Interest Rate</a></li>
</ul>



<p>To&nbsp;borrow&nbsp;or&nbsp;not&nbsp;to&nbsp;borrow?&nbsp;Borrow only if you can repay!</p>


The cost to obtain a TU Credit Report is HK$280, and you can do this in person at the TransUnion office or online.

How much does it cost to obtain a TU Credit Report?

If you have been rejected for a credit card, loan, or mortgage by a bank or financial institution, and they have previously obtained your credit report from TransUnion, then you can apply for a free credit report from TransUnion with the rejection letter.

How to check TU Credit Report for free?

How much do you know about your TU credit report and score? Read on to discover some common questions about TU credit reports and how to improve it.

TransUnion Credit Score: How to Improve + Everything Hong Kongers Should Know

The actual interest rate offered to borrowers depends on multiple factors such as borrower’s credit profile, loan amount, and repayment period – as such not all borrowers will be able to get the lowest Annual Percentage Rate (APR) possible as advertised by financial institutions.

Why is the actual interest rate offered by financial institutions different from the ones advertised?

Some of the most common types include installment, revolving and consolidation loans. An <strong>installment loan</strong> is the most common personal loan in Hong Kong, it is characterized by fixed monthly repayment schedule. A <strong>Revolving loan</strong> on the other hand offers more flexibility as the borrowers can decide when to drawdown then payback at their own pace. Lastly, a <strong>consolidation loan</strong> is a type of borrowing to payback one or more other loans – ideally higher interest one(s). <a href="https://www.planto.hk/en/blog/consolidation-loan-explained/">Read more about consolidation loan here</a>.

What are the key types of personal loan?

Traditionally, financial institutions typically take about one week to approve a personal loan application. However, with the aid of online application, application and approval can now be as fast as one day.

How long does it usually take to apply for and get a personal loan?

While APR plays an important role, borrowers should also consider other important factors such as repayment ability, handling fee, overdue penalty, early repayment fee and repayment methods.

What factors should be considered when applying for a personal loan?

The repayment period of any personal loan in Hong Kong can range between 3 to 72 months. The repayment period directly impacts the monthly repayment amount and overall interest expense. Longer repayment period means lower monthly repayment, but at the same time it will also increase overall interest expense due to compounding. <a href="https://www.planto.hk/en/blog/personal-loan-interest-rate-factors/">Read more about the relationship between the repayment period and total interest expense here</a>.

How to decide on repayment period for your personal loan?

Financial institutions generally require documents such as identification documents (HKID), proof of address and proof of income. Some institutions allow the borrower to skip some document provision, however maximum loan amount will be lower as well.

What documents are required during a personal loan application?

Failing to repay the loan on time typically results in additional finance charges. Another important consequence is the impact of late repayment on credit score - having a bad credit score could result in loan disapproval or getting a loan offer but at a higher interest rate.

What are the consequences of late repayment?

Financial institutions typically request handling fees or interest payback if borrowers want to repay their personal loans earlier. This means early repayment of personal loans may not always result in saving on interest expense so borrowers should discuss this option with their lenders before making any decision.

Can early repayment save money?

A secured loan uses collateral as a guarantee for repayment (mortgage is one example of a secured loan). On another hand, unsecured loan like personal loan, tax loan or even credit card do not have any guarantee for repayment, so their interest rate tends to be higher when compared to secured loan.

What is the difference between secured and unsecured loan?

A loan guarantor’s role is to cover for outstanding loan amount if the original borrower failed to repay the loan. Having a guarantor can help to improve borrower’s chance of getting approval as this helps to reduce risk for financial institutions.

What is a loan guarantor?

TransUnion (“TU”) is currently the only provider of personal credit report in Hong Kong. A credit report takes into considerations of past credit card, loan and mortgage application / payment information to compute a credit score which ranges from AA to JJ (AA being the best and JJ being the worst). Borrowers who manage number of credit card / loan applications well, while at the same time have good repayment habit tend to have better credit score and should not have any issue when applying for any type of loan.

What is a credit report?

The most important factor to consider before borrowing money is the Annual Percentage Rate (APR). APR indicates total yearly interest expense so it is important to understand APR offers in the market and consider other key components such as maximum loan amount and the repayment period.

Personal Loan Hong Kong 2023: Borrow with the Best Interest Rate

According to the definition by the Hong Kong Monetary Authority, a virtual bank is a bank that primarily offers retail banking services through the internet or other electronic channels instead of physical branches. The HKMA believes virtual banks can promote fintech and innovation in Hong Kong and provide customers with new experiences.

What is a virtual bank?

Licensed virtual banks in Hong Kong include ZA Bank, Airstar Bank, MOX Bank, livi bank, WeLab Bank, Ant Bank, PAO Bank, and Fusion Bank.

Which virtual banks are there in Hong Kong?

The eligibility criteria for opening a virtual bank account vary slightly depending on each bank but mainly require the following:<br/><br/>- Being at least 18 years old<br/>- Holding a valid Hong Kong identity card<br/>- Having a Hong Kong mobile number for receiving SMS<br/>- Having a valid Hong Kong residential address

What are the eligibility criteria for opening a virtual bank account?

Deposits to virtual bank accounts can mainly be made through Faster Payment System (FPS), electronic Direct Debit Authorization (eDDA), and account number transfer.

How can the money be deposited into a virtual bank account?

Some virtual banks allow customers can withdraw cash through ATMs. Otherwise, customers have to transfer money to another bank account to withdraw cash.

How can virtual bank customer withdraw their money?

Like traditional retail banks, all virtual banks participate in Deposit Protection Scheme, and depositors are eligible for up to HK$ 500,000 in deposit protection.

Do virtual banks participate in the Deposit Protection Scheme?

 Virtual banks are neobanks that do not have physical retail presence. Their services are 100% digital and the services can range from deposit, personal loan, debit/credit card or even insurance. Learn more about the welcome offers of Hong Kong virtual banks. 

Virtual Bank Hong Kong: Comparison, Promo Codes & Welcome Offers


<p>At the beginning of 2020, Bitcoin (BTC) price was ~US$7.2k and in 2021, Bitcoin price has exceeded US$60k but later sharply declined by 50%. Having its price more than tripled in a year, Bitcoin attracted the attention of many retail investors who are now looking into cryptocurrency investment.&nbsp;</p>



<p>Due to high price volatility, investors who are looking to invest into Bitcoin should be able to accept its risk profile as well.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="364" src="http://34.96.221.168/wp-content/uploads/2021/05/BTC-price-2021-1024x364.jpg" alt="" class="wp-image-16470" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/05/BTC-price-2021-1024x364.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/05/BTC-price-2021-300x107.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/05/BTC-price-2021-768x273.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/05/BTC-price-2021-1536x546.jpg 1536w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/05/BTC-price-2021-1200x427.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/05/BTC-price-2021.jpg 1660w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Historical price of Bitcoin. Source: AASTOCK</figcaption></figure>



<ul><li><a href="#crpyto-currency-fixed-income-investment">What is a crpyto currency fixed income investment?</a></li><li><a href="#stable-coins?">What are stable coins?</a></li><li><a href="#Review-of-Matrixport">Review of Matrixport</a></li><li><a href="#About-Matrixport">About Matrixport</a></li></ul>



<h2 id="crpyto-currency-fixed-income-investment"><strong>What is a crypto currency fixed income investment?</strong></h2>



<p>Crypto currency fixed income investment can be a lower risk alternative for investors who are looking for return by taking part in crypto currency investment. In a simple term, investors agree to lock up their cryptocurrencies for a fixed yield at maturity (like how time deposit typically work).&nbsp;</p>



<p>Cryptocurrency platform like Matrixport provides a wide range of fixed income investment features which cover tenor between 1 day to 240 days and the platform accepts both stable coins (like USDC and USDT) and other crypto currencies (like Bitcoin and Ethereum).</p>



<p>For example, one of Matrixport’s current offer is 12.0% annualized yield for USDC stable coin deposit for a tenor of 30 days – this means a deposit of 1,000 USDC will grow into ~1,010 USDC in just a month!</p>



<figure class="wp-block-image size-large is-resized"><img decoding="async" src="http://34.96.221.168/wp-content/uploads/2021/02/crypto-currency-fixed-income-investment-895x1024.jpg" alt="" class="wp-image-14668" width="319" height="364" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-investment-895x1024.jpg 895w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-investment-262x300.jpg 262w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-investment-768x879.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-investment.jpg 1064w" sizes="(max-width: 319px) 100vw, 319px" /></figure>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoiTWF0cml4cG9ydCIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9pbnZlc3QubWF0cml4cG9ydC5jb20vbmV3UmVnaXN0ZXIvZW4/Y2hhbm5lbD1LT0wmaW52aXRlX2NvZGU9UExZNk1EIiwiZnJvbSI6Ik1hdHJpeHBvcnRfbGluayJ9">Open an Account and Get the Rewards</planto-button>



<h2 id="stable-coins?"><strong>What are stable coins?</strong></h2>



<p>Stable coins like USDC and USDT are a class of cryptocurrencies that offer stability in price. They are often pegged to a currency and are backed by actual reserved assets. For example &#8211; 1 USDC, which is a stable coin managed by Centre.io (collaboration between major crypto currency platforms like coinbase and CIRCLE), is backed by an actual US dollar in an actual bank account.</p>



<p>Due to US dollar pegging, USDC can always be exchanged for US dollar almost at a 1:1 ratio.</p>



<figure class="wp-block-image size-large is-resized"><img decoding="async" src="http://34.96.221.168/wp-content/uploads/2021/02/USDC-to-USD-exchange-ratio-1024x653.jpg" alt="" class="wp-image-14669" width="362" height="230" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/USDC-to-USD-exchange-ratio-1024x653.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/USDC-to-USD-exchange-ratio-300x191.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/USDC-to-USD-exchange-ratio-768x490.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/USDC-to-USD-exchange-ratio-1200x765.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/USDC-to-USD-exchange-ratio.jpg 1226w" sizes="(max-width: 362px) 100vw, 362px" /><figcaption>USDC to USD exchange ratio. Source: Yahoo finance<br></figcaption></figure>



<p>To provide extra transparency, Centre.io publishes a third-party audit report for USDC on a monthly basis (<a href="https://www.centre.io/usdc-transparency">https://www.centre.io/usdc-transparency</a>).&nbsp;</p>



<h2 id="Review-of-Matrixport"><strong>Review of Matrixport (Current offers and user experience)</strong></h2>



<h3>New user registration</h3>



<p>New users can follow the registration link above to register with either email address or phone number. The account will be ready for usage immediately after registration with no on-boarding KYC (KYC is only required for withdrawing currencies from the account).&nbsp;</p>



<p>Immediately after the registration, users can set up various security measures like extra authentication or set up trading password.&nbsp;</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="http://34.96.221.168/wp-content/uploads/2021/02/Matrixport-register-1024x576.jpg" alt="" class="wp-image-14670" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/Matrixport-register-1024x576.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/Matrixport-register-300x169.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/Matrixport-register-768x432.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/Matrixport-register-1536x864.jpg 1536w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/Matrixport-register-1200x675.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/Matrixport-register.jpg 1888w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>Purchasing or depositing of crypto currencies</h2>



<h3 id="FPS">New Feature: Fund Your Account via FPS</h3>



<p>One of the common pain points of Hong Kong people investing in cryptocurrencies is the inconvenience of depositing funds into their accounts.</p>



<p>Matrixport now supports using FPS to fund your account, making it simpler and faster for Hong Kongers to start investing in cryptocurrency. We have tested this feature, and everything is streamlined:</p>



<ol><li>Choose to pay with FPS when buying cryptocurrency at Matrixport;</li><li>Follow the instructions to register an account with Xanpool/Banxa/Simplex, which can be completed within 10 minutes;</li><li>Follow the instructions and deposit the funds into the designated FPS account. Generally, the fund can be deposited on the same day.</li></ol>



<p>Be aware that the FPS feature charges a handling fee of about 2.5%. Therefore, it is more suitable for small and quick deposits.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="548" src="http://34.96.221.168/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.21-1024x548.jpg" alt="" class="wp-image-22386" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.21-1024x548.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.21-300x161.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.21-768x411.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.21-1536x822.jpg 1536w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.21-1200x643.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.21.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="547" src="http://34.96.221.168/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.39-1024x547.jpg" alt="" class="wp-image-22387" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.39-1024x547.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.39-300x160.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.39-768x410.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.39-1536x821.jpg 1536w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.39-1200x641.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2022/04/Screenshot-2022-04-29-at-11.28.39.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Credit card</strong></h3>



<p>Users can choose to deposit their existing crypto currencies or purchase them online through Matrixport using credit cards. Matrixport allows users to purchase crypto currencies online using a credit card via a secured platform called Simplex.&nbsp;&nbsp;</p>



<p>The process is similar to any other online transaction with 1 added step as Simplex requires all users to go through a quick identity verification process.&nbsp;</p>



<p>When the Planto team tried out Matrixport’s purchasing journey, it took us less than 10 minutes to go through. After receiving a confirmation from Simplex, the currency appears on Matrixport’s dashboard just a few minutes afterward.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="http://34.96.221.168/wp-content/uploads/2021/02/crypto-currencies-1024x576.jpg" alt="" class="wp-image-14671" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currencies-1024x576.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currencies-300x169.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currencies-768x432.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currencies-1536x864.jpg 1536w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currencies-1200x675.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currencies.jpg 1782w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Purchasing crypto currencies using a credit card is a quick and simple way for anyone to own their first crypto currency. However credit card transaction often comes with 3 to 5% fees (which means 3-4 months of payback period if you are getting 12% annualized return).</p>



<p>Credit card may be a good way for new users to start experiencing crypto currency investment, however for a larger transaction – investors can try the bank wire transfer on Matrixport App, which is newly launched with Circle.</p>



<h3>Wire transfer</h3>



<p>With the integration with Circle, Matrixport now supports wire transfer which allows users to transfer their USD directly to Circle and receive USDC directly on their Matrixport’s wallets. This service is free of charge, however local banks may charge overseas transfer fees. HSBC Hong Kong for example, charges 50 HKD for a telegraphic transfer done via online banking.</p>



<p>To use wire transfer feature, the user would first need to add their bank account with USD currency which include 2 steps 1) provide account details and 2) upload a bank statement for verification. When tried the process out, this was completed within 1 business day.</p>



<p>The transfer process include:</p>



<ul><li>Get a unique identification code from Matrixport’s app</li><li>Initiate the transfer on your banking app</li><li><strong>[Very important]</strong> Include your unique identification code in your transfer description field&nbsp;</li></ul>



<p>Matrixport has a detailed, step-by-step guide which can be found <a href="https://support.matrixport.com/hc/en-us/articles/900006856403-Bank-Wire-Instructions">here</a>. </p>



<h2>Trading crypto currencies</h2>



<p>Trading of crypto currency is a fast and simple process. The user simply needs to select a trading pair, enter the transaction amount and confirm the transaction. The transaction will be reflected in your Matrixport’s wallet almost instantaneously.&nbsp;</p>



<p>Users who purchased USDC using bank wire can make use of the trading feature to get Bitcoin or ETH in few clicks.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="578" src="http://34.96.221.168/wp-content/uploads/2021/02/crypto-currency-transaction-1024x578.jpg" alt="" class="wp-image-14672" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-transaction-1024x578.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-transaction-300x169.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-transaction-768x433.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-transaction-1536x867.jpg 1536w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-transaction-1200x677.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-transaction.jpg 1680w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>Fixed income investment</h2>



<p>Users can explore various fixed income offers by selecting “Fixed Income” icon from the home screen. After that, the users can filter and choose an offer of their choice. A typical minimum investment amount for fixed income product is 100 USD or 0.01 BTC.</p>



<p>Matrixport will display exact details such as a return calculation and maturity date before users are required to confirm their transactions. Once completed, investment details can always be found on the “Invest” tab.</p>



<p>Upon maturity, both principal and return will be deposited automatically back into Matrixport’s wallet which can then be used for investment (like purchasing Bitcoin) or put back into another fixed income offer.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="577" src="http://34.96.221.168/wp-content/uploads/2021/02/crypto-currency-fixed-income-1024x577.jpg" alt="" class="wp-image-14673" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-1024x577.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-300x169.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-768x433.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-1536x866.jpg 1536w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income-1200x677.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/02/crypto-currency-fixed-income.jpg 1692w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>Withdrawal</h2>



<p>Users can enjoy 2 free withdrawals to another wallet every month. Matrixport just partnered with Circle to launch the Bank Wire feature, so Circle can convert users’ USDC into USD and transfer to users’ bank directly. (With 30 USD per transaction charged by Matrixport)&nbsp;</p>



<h2><strong>Verdict: Matrixport is an easy-to-use platform which is catered for both traders and savers</strong></h2>



<p>Matrixport’s trading and investment features cater to both investors who are looking to trade crypto currencies or enjoy high yield over time. Based on our observation, Matrixport is an all-in-one crypto investment platform due to its comprehensive product offering ranging from basic to advanced investment features as well as loan products (more information below).&nbsp;</p>



<p>While the user experience is mostly good, it can take a bit of time for a new user to get used to. Crypto currency purchase using credit card may be a good way for new investors to get started, but its fees can be quite high, users may try the bank wire for larger amount and lower cost. Lastly,&nbsp; with the partnership between Matrixport and Circle, users can transfer their crypto currency to fiat money into their bank easily.</p>



<h3 id="About-Matrixport"><strong>About Matrixport</strong></h3>



<p>Matrixport is a spin-off of a crypto mining giant Bitmain. The company offers a comprehensive range of crypto investment features which come with asset security and 24 x 7 global customer support.</p>



<h4>Product features:</h4>



<ul><li>Basic investment features: buy, trade, &nbsp;hourly compounding flexible deposit and fixed income products</li><li>Advanced investment features: dual currency, smart trend, best-buy funds, leveraged trading</li><li>Loan: instant approval collateral loan</li></ul>



<h4>Credibility:</h4>



<ul><li>USD 5 Billion Monthly Trading Volume</li><li>USD 700 Million Outstanding Loan</li><li>USD 10 Billion Asset under Custody</li><li>200+ Employees Globally</li></ul>



<h4>Regulatory compliance</h4>



<ul><li>Hong Kong Trust Company Licence</li><li>Swiss FINMA SRO-VQF Member</li><li>Singapore Payment Service Act License (Exempted and under review by MAS) *</li><li>User Privacy Protection Policy</li></ul>



<p>*applied by Fly Wing Technologies Pte. Ltd., a wholly-owned subsidiary of Matrixport</p>



<h4>How can Matrixport offer such a high return on fixed income product?</h4>



<p>Crypto currency deposits give Matrixport liquidity as well as the ability to lend out crypto currencies to consumers/ miners/ hedge funds. For example, as of the date of this review, the platform is offering loan on USDC at 15-17% APR.&nbsp;</p>



<h4>Do fixed income investment contain risk?</h4>



<p>All investments involve risks. On Matrixport’s mobile application, Matrixport states that they have a proper set of risk control program, in the event that any losses occur with the underlying assets of the fixed income product, the program shall provide in-time alert and stop losses as soon as possible to protect the interests of investors.</p>



<p>While the platform do not guarantee 100% rigid redemption and in case of any extreme market situations, investors may have to face losses in income or principal.</p>



<p>Investment involves risks. This material contains general information and our opinion on Matrixport’s features only. It is not an invitation to invest nor is it to be construed as an offer to buy or sell any investment instruments. The information contained in this material is only accurate on the date such information is published on this material.</p>


Review + Rewards: Cryptocurrency platform like Matrixport provides a wide range of fixed income investment features which cover tenor between 1 day to 240 days and the platform accepts both stable coins (like USDC and USDT) and other crypto currencies (like Bitcoin and Ethereum).

Matrixport Review〡 Earn up to 15% annualized return on fixed income or trade Bitcoin + Support using FPS to fund your account


<p>Matrixport is a cryptocurrency platform from Singapore that is differentiating itself from other players through innovative investment features.We have previously reviewed <a href="https://www.planto.hk/en/blog/matrixport-review/">Matrixport’s UX/Simple Earning features</a> as well as more advanced features such as <a href="https://www.planto.hk/en/blog/matrixport-range-sniper-auto-dca/">Range Sniper and Auto DCA</a>. This time, we will be trying out newly launched features in 2022 including Grid Trading and Buy Below The Market.</p>



<h2><strong>Grid Trading Bot: Automate your buy-low-sell-high strategy</strong></h2>



<p>Grid trading allows users to set up “rules” which will automatically buy and sell crypto currencies for them. The feature aims to take advantage of cryptocurrency’s price volatile nature and help users to execute trades without having to constantly monitor the market.</p>



<h3><strong>How to subscribe?</strong></h3>



<p>Grid Trading is available to all users via Matrixport’s Pro version. Users simply need to go to “Trade” on the bottom menu. Reminder: Matrixport’s user can easily switch between “Lite” and “Pro” versions using a toggle located on top left hand corner of the app’s screen.</p>



<h3><strong>How does it work?</strong></h3>



<p>Grid Trading Bot will help users to automatically buy and sell cryptocurrencies like BTC or ETH using USDC/USDT. It’s free to create multiple Grid Bots, with 0.05% trading fee.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh5.googleusercontent.com/9dLPI9xCTnLgwCAB15V3GfiuqKqCQgxjr5iimpnvQ2_Xcl4l5pKA0EyUTkZYx97DYPJ6-3sWpljwESnAbRA75cW3um0ec9Rr4pCq5qZ1l6jf0AzOKoKrs9zkvYWWrI1a4Rm-9rBQ" alt="" width="370" height="800"/></figure>



<p>Users will be asked to input a range of parameters such as:</p>



<ul><li>Price Range: this range will determine trading area of your bot hence no buy/sell orders will happen when BTC price outside of this range</li><li>Grids: this parameter determines how large of a profit your bot will be aiming for hence a wider profit goal could lead to a longer lead time before your sell order go through unless the market is highly volatile&nbsp;</li><li>Grid Mode: 2 modes are available Arithmetic which set grids in fixed addition/deduction apart from each other whereas Geometric will set grids using percentages or multiplication&nbsp;</li></ul>



<p>How Grid Trading works is, the Price Range will be divided into different Grids based on the parameters set by the users.</p>



<p>In a scenario where, for example, BTC price is falling within the range and a buy order has been executed. The Bot will automatically set up a sell order one grid above the buying price so that once executed, users will gain profit from this trade.</p>



<p>Then once a sell order has been executed, the Bot will automatically set up a buy order one grid below the selling price – and the cycle continues.&nbsp;</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh3.googleusercontent.com/wXSiAtWWNzrChASPvAv2k4x1Zq-_OI8CDjiwAwEMgAGrBIV0Wtwf-TwGGmS7_4KcacqiW37hWUvHfiwbstM0okI6IGjl0EY7L5e3yTXsfZJLsRLHaYY6JMxcNiPJQTVcp5sYZfhK" alt="Graphical user interface

Description automatically generated" width="190" height="313"/></figure>



<p>Before users confirm and start trading, Matrixport will also display some useful information like Grid Profit Rate and some reference back testing result.</p>



<p>We are still observing our order which we can compare to the backtesting result later on.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh5.googleusercontent.com/J0VRCQFNF06_PMGkuxaIRHwkeVoya-lAsX7YfJ9U3rwePAgPb9HYa_sdstu22qRjwI_x3ZkXPY69w9KMmNFJ-RuH7jo33RrkI_579srm-ZiENECr6Gt-nplqgOHhhr4pg86c4V01" alt="Graphical user interface, text, application

Description automatically generated" width="203" height="259"/></figure>



<p>Once set up, users can view their set up details including information like current holding, buy price, grid buy/sell pricing, transaction and grid earnings all from the “Trade” tab within Matrixport’s app.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh5.googleusercontent.com/VNvGpOZHr4l6PCLL0-l2y5baDPIjCUuNRNTLR8Ej_fHViU-SDFRzwFbmQHYNA3jXYZWm3_2-q2c6YWoT6gMsKPH0GGokKeNUygvBjQFC3V-VOn-gNQVrrURpycv5X7avdduB3Ohw" alt="Graphical user interface, application

Description automatically generated" width="401" height="380"/></figure>



<p>A Reverse Grid feature is also available for users are looking to capitalize on market downturn.</p>



<p>Users can also choose to stop the trading Bot anytime – upon which, they can choose to sell their remaining BTC at current market price.</p>



<p>In summary, Grid Trading Bot allows users who want to be more hands-off to take advantage of cryptocurrency’s pricing volatility in order to make profit through a buy-low and sell-high strategy.</p>



<h4>Pro:</h4>



<ul><li>An automated process where trading parameters can be controlled by the users</li><li>Can be set up or stop any time (but users should be mindful of any remaining BTC in their Grid)</li></ul>



<h4>Con:</h4>



<ul><li>As all investment contains risk, users could still end up holding BTC/ETH in their grid when the market face a sharp decline</li></ul>



<h2><strong>Buy Low and Sell High using Buy-Below-Market and Sell-Above-Market</strong></h2>



<p>Matrixport’s newly launched feature aims to aid users in getting better pricing when it comes to buying and selling of BTC without having to closely monitor the market 24/7.</p>



<p>Minimum investment amount: US$100</p>



<h3><strong>How to subscribe?</strong></h3>



<p>Both Buy-Below-Market and Sell-Above-Market features are available to all users via Matrixport’s Pro version. Users simply need to go to “Trade” on the bottom menu. Reminder: Matrixport’s user can easily switch between “Lite” and “Pro” versions using a toggle located on top left hand corner of the app’s screen.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh4.googleusercontent.com/ljn7_nkIRGlzjIRGl7kv5c38kmtEDHelJYV_4seOcKRR7My3rjHJtFsZpj1Zvu9t-YHqG-jWiPo-a6J4eniyaDtgwcibL_qT8jApS48ywN4wSUy8JwRqlZxeWvHD7Yf9LkBk3Jan" alt="Graphical user interface, application

Description automatically generated" width="331" height="323"/></figure>



<h3><strong>How does it work?</strong></h3>



<p>The Buy-Below-Market feature allows users to lock up their USDC/USDT for a short period of time in exchange for a chance at purchasing BTC at a favourable price upon subscription maturity.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh3.googleusercontent.com/ukAlCTEwhbRi69R2c0BnZDDM2if8MWRWP2o8-YBV0hy1tWbsWiXwpzQqCrdInXQ7sF9hR-4P810O8sMGYF5igm8E3FK6XxiBTgkUBq6zs_13AlCylkC1u_DVCMwTzlfwjiUoFA13" alt="Graphical user interface, application, Teams

Description automatically generated" width="325" height="319"/></figure>



<p>For example on 8<sup>th</sup> January 2022, BTC price is around US$41,800 – users can subscribe to various buy pricing which is currently below the market like US$41,000 and US$40,000.</p>



<p>For this article, we are trying out US$40,000 as a buy price and the maturity period is 12 days. Before we get into the details of this feature, lets familiarize ourselves with a few terminologies:</p>



<ul><li>Buy Price: the price at which your USDC/USDT will convert to BTC upon maturity</li><li>Settlement Price: this is an average BTC index during the last 30 minutes before expiry</li><li>Knock Out Price: the maximum price that will stop your USDC/USDT from converting at maturity</li></ul>



<p>Upon subscription, users will need to wait until expiry date (in this case, 12 days). Upon which, the settlement price will determine how your USDC/USDT get converted to BTC.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh5.googleusercontent.com/x4QM0IwwBKe2tClnyGDLJqKbIXLi26q4OwOxfLzph-yM4mHNvUW7zQ6unT7RYzzPjakgChAB2e9QtsLKzjaPdPge6MEZ2bxkJZj39kHYAyd9xmOqfZTNtKTfxeTw-yPVSCP2cYr9" alt="Timeline

Description automatically generated" width="524" height="229"/></figure>



<ol><li>If the Settlement Price is lower than Buy Price: 100% of USDC/USDT will be converted to BTC at the Buy Price (in this case US$40,000)</li><li>If the Settlement Price is between Buy Price and Knock Out Price: 50% of USDC/USDT will be convert to BTC at the Buy Price and the remaining 50% of USDC/USDT will return to balance account</li><li>If the Settlement Price is higher than Knock Out Price: No conversion will take place and 100% of USDC/USDT will return to balance account</li></ol>



<p>Please note that all pricing and conditions are subjected to change depending on market condition so you should check carefully before making any subscription.</p>



<p>In summary, Buy-Below-Market feature gives users a chance at buying BTC at a favourable price. Vice versa, Sell-Above-Market feature will aid in the selling process.</p>



<h4>Pro:</h4>



<ul><li>Offer a chance for users to purchase BTC below market price or sell at higher price at expiry/maturity date</li><li>Fixed purchase price with 0% settlement mechanism can help to prevent conversion at a high price</li></ul>



<h4>Con:</h4>



<ul><li>As all investments contain risk, USDC/USDT can still convert at higher than current market price if the Settlement Price is much lower than Buy Price&nbsp;</li><li>Maturity period could last between few to several days, users may lose out on opportunities during highly volatile market condition</li></ul>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoiTWF0cml4cG9ydCIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9pbnZlc3QubWF0cml4cG9ydC5jb20vbmV3UmVnaXN0ZXIvemgtaGs/Y2hhbm5lbD1LT0wmaW52aXRlX2NvZGU9UExZNk1EIiwiZnJvbSI6Ik1hdHJpeHBvcnRfbGluayJ9">Open an Account and Get Up to US$55 in Rewards</planto-button>



<p class="has-small-font-size">Disclaimer: Investment involves risks. This material contains general information and our opinion on Matrixport’s features only. It is not an invitation to invest nor is it to be construed as an offer to buy or sell any investment instruments. The information contained in this material is only accurate on the date such information is published on this material.</p>


Matrixport is a cryptocurrency platform from Singapore that is differentiating itself from other players through innovative investment features.We have previously reviewed Matrixport’s UX/Simple Earning features as well as more advanced features such as Range Sniper and Auto DCA. This time, we will be trying out newly launched features in 2022 including Grid Trading and Buy Below The Market.

Matrixport: Review of Platform’s New Trading Products : Auto Buy-low-sell-high with Grid Trading Bot/Buy BTC Below Market


<p>There are many cryptocurrency platforms out there if you are looking to trade (buy/sell) cryptocurrencies to gain profit. However, some players like Matrixport have a heavier focus on investment features that will allow users to be more hands-off or earn more even if they are holding onto stable coins like USDC.&nbsp;</p>



<p>While <a href="https://www.planto.hk/en/blog/matrixport-review/">Matrixport</a> has many features like dual currency, smart trend, flexi saving and fixed income – today we will be trying out Matrixport’s newest features, namely “Range Sniper” and “Auto DCA”.</p>



<h2><strong>Auto DCA: automate your crypto currency investment</strong></h2>



<p>Matrixport’s newly launched automated investment feature allows users to set up rules and automate their purchase of popular crypto currencies such as BTC and ETH using USDC and USDT balances in their Matrixport wallets.</p>



<h3>How to subscribe?</h3>



<p>The Auto DCA feature is available to all Matrixport Pro users. Users simply need to go to “Trade” on the bottom menu, then find “Auto DCA” feature among one of tabs.</p>



<p>Reminder: Matrixport’s users can easily switch between “Lite” and “Pro” versions using a toggle located on top left hand corner of the app’s screen.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh4.googleusercontent.com/qP4-uz5XE5SF0-0XZ9jBfHGBl_-4KvtKwVrTlbIcttp4GEa0h-7yvCiROYEJX5bYI3zyTcCPmEemIkdjreDt7nMln_mH5gFACKyCi8i8ie9ySAiyrF3vpNwZLy27duc9_ATO7Lk" alt="Graphical user interface, application

Description automatically generated" width="305" height="457"/></figure>



<h3>Why should anyone use Auto DCA?</h3>



<p>Auto DCA helps users to set their own rules in order to make use one of the most popular investment strategies called Dollar-Cost Averaging (hence the name Auto DCA). Dollar-Cost Averaging works by removing users’ attempt to time the market, and invest in an instrument consistently in order to enjoy longer term return.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh5.googleusercontent.com/ZICV1WZI7B91ND1L4TacNiMmvQdxsjm82hFDZpCbUQwRCzMhekvzAKLicq8tJSeIl4UVDLb1sza4lUnqbO5evQCWxkQS3Q3ZHSkjf9I_VoxRQxZse8e_93jItW3_kie8MLKzVpM" alt="Graphical user interface, application

Description automatically generated" width="337" height="193"/></figure>



<p>While the price of BTC is a lot more volatile than a typical equity instrument, Dollar-Cost Averaging could still work for users who strongly believe that BTC price will rise significantly in the long term.</p>



<h3>How does it work?</h3>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh3.googleusercontent.com/Ch_pXg4f1Ji5nC2li2_iapBnAT-03HAiVFD_rBVrDub9x_Cz3dlnhamKbZneFGBAK8E-IbGrFlS5zZmrp0BQJm7bEC--d69NA4GiKwZWkcwfnTJ-XusM03flqY6ssB6jrJogYJk" alt="Graphical user interface, application

Description automatically generated" width="593" height="312"/></figure>



<p>Users can use Matrixport’s Auto DCA feature to automate the purchase of BTC or ETH under 2 major strategies:</p>



<ul><li>Invest at every specified interval such as every hour, every few hours, every day, every week or every month as long as the balance is sufficient</li><li>Invest only if the price is lower than a specified threshold which is suitable for users who want to automatically purchase BTC or ETH when the prices are low</li></ul>



<p>Additionally, users can also set a total investment limit to make sure that they stay within their comfortable investment budget as well.</p>



<h2><strong>Range Sniper: earning up to 216% APY from USDC or USDT</strong></h2>



<p>Range Sniper is one of Matrixport’s brand new advanced investment features. In general principal, Range Sniper is like purchasing a call option with pre-determine strike price – but with many more tricks up its sleeves. Users can find Range Sniper feature directly on Matrixport’s Home screen if they are using the Pro version of the Matrixport mobile application.</p>



<p>Reminder: Matrixport’s users can easily switch between “Lite” and “Pro” versions using a toggle located on top left hand corner of the app’s screen.</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh4.googleusercontent.com/qP4-uz5XE5SF0-0XZ9jBfHGBl_-4KvtKwVrTlbIcttp4GEa0h-7yvCiROYEJX5bYI3zyTcCPmEemIkdjreDt7nMln_mH5gFACKyCi8i8ie9ySAiyrF3vpNwZLy27duc9_ATO7Lk" alt="Graphical user interface, application

Description automatically generated" width="305" height="457"/></figure>



<h3>How to subscribe?&nbsp;</h3>



<p>User deposits USDC/USDT with Matrixport during the fundraising period. The fundraising period is typically open between 6pm to 8pm HKT on every Monday and 4pm to 6pm HKT on every Friday, and the minimum investment is US$100. Interested users can check relevant information a few days before the fundraising date, for example details for Monday’s fundraising slot is typically posted on Friday of the week before.</p>



<p>Users simply need to wait until an expiry date which is 10 days from the fundraising date for their settlements.</p>



<h3>What can you expect from Range Sniper?</h3>



<p>Matrixport has included an in-app calculator to assist you in the settlement calculation. However, the Planto team has tried out Range Sniper during the 11th October 2021 fundraising period so that we can help you visualize what to expect from Range Sniper’s settlement.&nbsp;</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh5.googleusercontent.com/UqqLO7rieIrn6vkCIK9tw4sqsV1PPahlYmuCdiuph3RAhZfz0uh3fyZOa4Ra-elit0IVSTeTlJTGqlETpb0ATilIKIjnksbc-8F_ezCy_iAfpVb-MX0OIBy6huUMdz8fivsEICo" alt="Graphical user interface, application

Description automatically generated" width="174" height="269"/></figure>



<h3>How does Range Sniper provide return to users?</h3>



<p>Before we jump into the details, there are a few terminologies that all users need to understand.</p>



<ul><li>Settlement price: this is an average BTC index during the last 30 minutes before expiry</li><li>Lower linked price: this is the lower bound of BTC price show in Matrixport’s yield calculation – which is US$53,000 for the 11<sup>th</sup> of October fund raising</li><li>Higher linked price: is the higher bound of BTC price which is US$59,000 for the 11<sup>th</sup> of October fund raising.</li></ul>



<p>Range Sniper will provide a minimum of 10% APY yield to user’s settlement amount regardless of the settlement price, however both the settlement format and final return may vary greatly depending on the settle price. General mechanism of Range Sniper’s settlement can be found below:</p>



<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh3.googleusercontent.com/Glijk4R-qOpZ6I9mC5ryzEx9EZimoPda-cFrUHJlDykEpEfiyFbRFKdErRHZTUaIMuHT9DhHdjm5-_BU2nOasNANMzYxt50xZT0pEUX9vU8Df7St06YtB6Ue6rDskA02Qfqz8ec" alt="Timeline

Description automatically generated" width="452" height="170"/></figure>



<ul><li>If the settlement price is between the lower linked price and higher linked price (ie US$53,000 &lt;= price &lt;= US$59,000), then the users will receive their settlements in USDC/USDT + yield between 10% to 216.6%</li><li>If the settlement price is lower than the lower linked price (ie price &lt; US$53,000), then the users will receive yield of 10% APY, while the settlement will be converted to BTC using the lower linked price (ie US$53,000)</li><li>If the settle price is higher than the higher linked price (ie price &gt; US$59,000), then the users will receive their settlements in USDC/USDT along with yield of 10% APY</li></ul>



<p>Please note that both yield return, lower/higher linked prices may vary across different fundraising periods, so users should make sure to check this information before making any subscription.</p>



<h3>What can the return be like under different scenarios?</h3>



<p>We have prepared 9 scenarios where the settlement price falls below the lower linked price, within the linked price and above the higher linked price.&nbsp;</p>



<p><strong>Investment amount: US$1,000</strong></p>



<figure class="wp-block-table is-style-regular"><table><tbody><tr><td><strong>Settlement Price</strong></td><td><strong>Est. yield (APY)</strong></td><td><strong>Settlement&nbsp;</strong><strong>format</strong></td><td><strong>Market value</strong><strong>(US$)&nbsp;</strong></td><td><strong>Total return</strong><strong>(US$)</strong></td><td><strong>Total return</strong><strong>(%)</strong></td></tr><tr><td>52,000</td><td>10%</td><td>BTC</td><td>984</td><td>-16</td><td>-1.6%</td></tr><tr><td>53,000</td><td>10%</td><td>USDC</td><td>1,003</td><td>3</td><td>0.3%</td></tr><tr><td>54,000</td><td>47%</td><td>USDC</td><td>1,013</td><td>13</td><td>1.3%</td></tr><tr><td>55,000</td><td>83%</td><td>USDC</td><td>1,023</td><td>23</td><td>2.3%</td></tr><tr><td>56,000</td><td>114%</td><td>USDC</td><td>1,031</td><td>31</td><td>3.1%</td></tr><tr><td>57,000</td><td>152%</td><td>USDC</td><td>1,042</td><td>42</td><td>4.2%</td></tr><tr><td>58,000</td><td>183%</td><td>USDC</td><td>1,050</td><td>50</td><td>5.0%</td></tr><tr><td>59,000</td><td>216%</td><td>USDC</td><td>1,059</td><td>59</td><td>5.9%</td></tr><tr><td>60,000</td><td>10%</td><td>USDC</td><td>1,003</td><td>3</td><td>0.3%</td></tr></tbody></table></figure>



<p>At the time of 11<sup>th</sup> October fundraising, BTC index was roughly US$56,500 so if the price fluctuate within +/- of US$2,000, user’s APY will be between 47% to 183%, which will lead to 1% to 5% within a very short period of time of 10 days. However, if the price falls below the lower linked price, users may incur loss as BTC’s value drops (in the example above 0.0177 BTC converts to US$984 if BTC value is at US$52,000 on the settlement day) – in which case, the users can opt to hold onto BTC until the price rise again.&nbsp;</p>



<h3>Can users gain more return by buying BTC directly?</h3>



<p>The answer is, it depends. To help everyone visualize, we have put together a comparison table below between investing US$1,000 into the Range Sniper vs. Buying BTC directly at 1 BTC = US$56,500</p>



<figure class="wp-block-table is-style-regular"><table><tbody><tr><td><strong>BTC&nbsp;</strong><strong>Price</strong></td><td><strong>Range sniper</strong></td><td><strong>Buying&nbsp;</strong><strong>BTC</strong></td><td><strong>Difference</strong></td></tr><tr><td>52,000</td><td>984</td><td>920</td><td>63</td></tr><tr><td>53,000</td><td>1,003</td><td>938</td><td>65</td></tr><tr><td>54,000</td><td>1,013</td><td>956</td><td>57</td></tr><tr><td>55,000</td><td>1,023</td><td>973</td><td>49</td></tr><tr><td>56,000</td><td>1,031</td><td>991</td><td>40</td></tr><tr><td>57,000</td><td>1,042</td><td>1,009</td><td>33</td></tr><tr><td>58,000</td><td>1,050</td><td>1,027</td><td>24</td></tr><tr><td>59,000</td><td>1,059</td><td>1,044</td><td>15</td></tr><tr><td>60,000</td><td>1,003</td><td>1,062</td><td>-59</td></tr></tbody></table></figure>



<p>Overall, Range Sniper provides a certain degree of protection against losses while generating higher yield if BTC price fluctuate within +/-4-5%, but Range Sniper would lose out if BTC’s price rises significantly above the higher linked price.</p>



<h3>Summary:</h3>



<p>Range Sniper looks suitable for investors who are looking to earn attractive yield on their stablecoins in exchange of taking on additional risks. As shown under various scenarios, Range Sniper’s return has an edge when BTC price fluctuates within the linked pricing range.</p>



<p>As BTC price is volatile, those who are more bullish could opt to invest in BTC directly while those who are bearish can consider Matrixport’s other fixed income products instead.&nbsp;</p>



<h3>Pro:</h3>



<ul><li>Great way to earn above market yield from BTC trend using USDC or USDT</li><li>Protection from low to medium downside while providing attractive APY of at least 10%</li></ul>



<h3>Con:</h3>



<ul><li>As all investments contain risk, losses can still be incurred due to the product’s risk-return tradeoff nature</li><li>Unlike a typical call option, users cannot “exercise” their option before the expiry date</li></ul>



<h2><strong>Our conclusion on Auto DCA and Range Sniper</strong></h2>



<p>Both newly launched features from Matrixport introduce different ways in which users can invest into cryptocurrencies. From our perspective, these features are innovative and not commonly found in all crypto platforms. However, they are not designed to cater to everyone – Range Sniper is designed for users who are looking for short-term, high yield returns on their stable coins by taking on more risk, while Auto DCA is designed for users who believe in long-term potential of BTC or ETH, and want to passively invest into them.</p>



<p>Lastly, all investors should keep in mind that all investments contain risk and they should weight their risk appetites against market volatility.</p>



<hr class="wp-block-separator has-css-opacity"/>



<p class="has-small-font-size">Disclaimer: Investment involves risks. This material contains general information and our opinion on Matrixport’s features only. It is not an invitation to invest nor is it to be construed as an offer to buy or sell any investment instruments. The information contained in this material is only accurate on the date such information is published on this material.</p>


While Matrixport has many features like dual currency, smart trend, flexi saving and fixed income – today we will be trying out Matrixport’s newest features, namely “Range Sniper” and “Auto DCA”.

Review of Matrixport’s new features: Receive up to 216% APY via Range Sniper or set up an automated investment using Auto DCA


<p>There are many online and mobile securities brokerages in Hong Kong. However, market information is still fragmented and retail investors often have limited access to professional analyses and investment knowledge.</p>



<p>In this article, we will be taking a close look at the new “social” investment service launch by Longbridge. With Longbridge, users can interact with other investors/experts on the platform, read in-depth content or watch live broadcasts – the experience itself is like going through investment pages or groups on social media.</p>



<p>Learn more about account opening process, features and welcome rewards together with us in this article!</p>



<h3 id="welcome-rewards"><strong>Longbridge X Planto account opening welcome rewards*</strong></h3>



<p>Users who have successfully opened an account using Planto’s exclusive link and fulfilled specific requirements can enjoy attractive welcome offers including a free stock simply by opening an account – the process is fast and simple!</p>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoibG9uZ2JyaWRnZSIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9hY3Rpdml0eS5sb25nYnJpZGdlLmhrL3BpcGVsaW5lL0hLX0RJU19URVNUL2luZGV4Lmh0bWw/c2FjPWxiJmxvZ2luVXJsPSZsYkZpdHNTdGF0dXNCYXI9MSZjaGFubmVsPUhIS04wMDAwMSZpbnZpdGUtY29kZT02MTQ3MDEiLCJmcm9tIjoiTG9uZ0JyaWRnZV9SZXZpZXcifQ==">Open an account now to enjoy welcome rewards
</planto-button>



<h3><strong>Breakdown of Longbridge account opening</strong></h3>



<ul><li><a href="#welcome-rewards">Longbridge X Planto account opening welcome rewards</a></li><li><a href="#account-opening">Longbridge’s fast &amp; simple account opening process</a></li><li><a href="#trading">Low-fee trading of Hong Kong, U.S. stocks and funds</a></li><li><a href="#stock-analysis">Easy-to-use stock analysis function</a></li><li><a href="#social-features">Keeping up with the market through social features</a></li><li><a href="#Prospect">Prospect for long-term app usage</a></li><li><a href="#FAQ">Frequently asked questions</a></li></ul>



<h2 id="account-opening"><strong>Longbridge X Planto account opening welcome rewards*</strong></h2>



<p>Users can open an account with Longbridge 100% online with clear UI and instructions. The key account opening steps include:</p>



<div class="schema-how-to wp-block-yoast-how-to-block"><p class="schema-how-to-description"></p> <ol class="schema-how-to-steps"><li class="schema-how-to-step" id="how-to-step-1634551772240"><strong class="schema-how-to-step-name">Download a mobile app &amp; register an account</strong> <p class="schema-how-to-step-text">New customers can register for an account with Longbridge using their mobile number, Facebook, Twitter or Apple accounts</p> </li><li class="schema-how-to-step" id="how-to-step-1634551796524"><strong class="schema-how-to-step-name">Authentication and account opening</strong> <p class="schema-how-to-step-text">After the initial registration, users can immediately enjoy market and community features within the app, however users will need to complete the remaining steps in order to fully enjoy Longbridge app – including ability to invest. Make sure to prepare HKID and bank account information for the remaining process</p> </li><li class="schema-how-to-step" id="how-to-step-1634551803721"><strong class="schema-how-to-step-name">Information submission and fund deposit</strong> <p class="schema-how-to-step-text">Fill in required information and submit documents. To complete the account opening process, users will need to choose authentication methods between doing an online transfer, mailing in a cheque or doing the process in-person (Third Party Witness). We highly recommend the online transfer process as users can complete this process simply by submitting HKID, recent proof of address and deposit HK$10,000 (or US$1,500)</p> </li><li class="schema-how-to-step" id="how-to-step-1634551827165"><strong class="schema-how-to-step-name">Completion</strong> <p class="schema-how-to-step-text">Fund transfer in step 3 was the last process. It usually takes about 1 working day for Longbridge to complete your application</p> </li></ol></div>



<p>Pro tip: you can deposit funds through online banking, ATM, FPS.</p>



<figure class="wp-block-image size-large is-resized"><img decoding="async" src="http://34.96.221.168/wp-content/uploads/2021/10/longbridge1-1024x575.jpg" alt="" class="wp-image-19141" width="512" height="288" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge1-1024x575.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge1-300x169.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge1-768x432.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge1-1200x674.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge1.jpg 1379w" sizes="(max-width: 512px) 100vw, 512px" /><figcaption><em>▲Customer can choose to authenticate their account via an online transfer, cheque or Third Party Witness.</em></figcaption></figure>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoibG9uZ2JyaWRnZSIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9hY3Rpdml0eS5sb25nYnJpZGdlLmhrL3BpcGVsaW5lL0hLX0RJU19URVNUL2luZGV4Lmh0bWw/c2FjPWxiJmxvZ2luVXJsPSZsYkZpdHNTdGF0dXNCYXI9MSZjaGFubmVsPUhIS04wMDAwMSZpbnZpdGUtY29kZT02MTQ3MDEiLCJmcm9tIjoiTG9uZ0JyaWRnZV9SZXZpZXcifQ==">Open an account now to enjoy welcome rewards
</planto-button>



<h2 id="trading"><strong>Low-fee trading of Hong Kong, U.S. stocks and funds</strong></h2>



<p>With Longbridge, users can trade Hong Kong/U.S. stocks, subscribe to IPOs and invest in funds just like any other major investment platforms. Longbridge’s value proposition is completed by allowing its customers to manage all kind of investments within one app at a very low fee while providing social and analysis features.&nbsp;</p>



<p>At the time of this writing, Planto’s audience can enjoy a free stock together with lifetime 0 commission trading for Hong Kong stocks (and U.S. stocks if the user deposits HK$78,000&nbsp; or US$10,000).</p>



<p><strong>Key fees from Longbridge include:</strong></p>



<figure class="wp-block-table is-style-regular"><table><tbody><tr><td><strong>Investment product</strong></td><td><strong>Longbridge fees</strong></td></tr><tr><td>Hong Kong stock trading</td><td>0.03% commission with HK$3 minimum (users can currently receive a lifetime 0 commission reward by signing up now)&nbsp;</td></tr><tr><td>Hong Kong stock margin</td><td>6.5% annual interest</td></tr><tr><td>Hong Kong IPO subscription</td><td>Subscription fee of HK$49. Subscription with margin fee of HK$99 (there is no handling fee for cash subscriptions of Hong Kong stocks as of 31<sup>st</sup> December)</td></tr><tr><td>U.S. stock trading</td><td>US$0.0049 per share with US$0.99 minimum (users can currently receive a lifetime 0 commission reward by signing up now)</td></tr><tr><td>U.S. stock margin</td><td>4.8% annual interest</td></tr><tr><td>Fund</td><td>No subscription fees</td></tr></tbody></table><figcaption><em>▲The above list is a summary of key fees, please refer to Longbridge’s website for full details.<br></em></figcaption></figure>



<p>Apart from fees charged by Longbridge. All investors in Hong Kong would also need to pay fees to the Hong Kong and U.S. exchanges as well as related regulators when trading stocks. Fund investors should also keep an eye out for fund management fees charged by the fund managers.</p>



<p>Based on our comparison, fees charged by Longbridge are lower than many other platforms, especially when compared to investment services from banks.</p>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoibG9uZ2JyaWRnZSIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9hY3Rpdml0eS5sb25nYnJpZGdlLmhrL3BpcGVsaW5lL0hLX0RJU19URVNUL2luZGV4Lmh0bWw/c2FjPWxiJmxvZ2luVXJsPSZsYkZpdHNTdGF0dXNCYXI9MSZjaGFubmVsPUhIS04wMDAwMSZpbnZpdGUtY29kZT02MTQ3MDEiLCJmcm9tIjoiTG9uZ0JyaWRnZV9SZXZpZXcifQ==">Open an account now to enjoy welcome rewards
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<h2 id="stock-analysis"><strong>Easy-to-use stock analysis function</strong></h2>



<p>While we have tried out many stock trading apps and platforms, we are still impressed by Longbridge’s in-app analysis function.</p>



<p>Real time quotation, market data, trend, financials and relevant news are commonly found information among many investment apps. However, what we like about Longbridge’s app is how all key information is displayed in a concise manner. On top of that, users can easily get a view of investment style, analyst rating and valuation information in a single view.&nbsp;</p>



<p>In summary, Longbridge did a good job in presenting large and complicated data in a very clean manner which makes the stock analysis function easy to use even for retail investors who have limited experience with stock analysis.</p>



<p>Longbridge app’s “Market” tab also contains useful information like market/sector trends, popular stock and upcoming IPOs. It also has a “calendar” feature to help you keep track of all important dates like market holiday and company’s disclosures.</p>



<figure class="wp-block-image size-large is-resized"><img decoding="async" src="http://34.96.221.168/wp-content/uploads/2021/10/longbridge2-1024x575.jpg" alt="" class="wp-image-19142" width="512" height="288" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge2-1024x575.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge2-300x169.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge2-768x432.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge2-1200x674.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge2.jpg 1379w" sizes="(max-width: 512px) 100vw, 512px" /><figcaption><em>▲</em>The analysis function is clean and easy to use while containing useful information.<br></figcaption></figure>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoibG9uZ2JyaWRnZSIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9hY3Rpdml0eS5sb25nYnJpZGdlLmhrL3BpcGVsaW5lL0hLX0RJU19URVNUL2luZGV4Lmh0bWw/c2FjPWxiJmxvZ2luVXJsPSZsYkZpdHNTdGF0dXNCYXI9MSZjaGFubmVsPUhIS04wMDAwMSZpbnZpdGUtY29kZT02MTQ3MDEiLCJmcm9tIjoiTG9uZ0JyaWRnZV9SZXZpZXcifQ==">Open an account now to enjoy welcome rewards
</planto-button>



<h2 id="social-features"><strong>Keeping up with the market through social features</strong></h2>



<p>Social feature is one of Longbridge’s unique selling points. In the “Community” tab, users can interact with other investors to exchange ideas or help each other stay updated in the ever changing market condition.</p>



<p>One of the features that was outside of our expectation was Longbridge’s “Live” feature where users can watch live broadcasts like company’s press conferences directly from within the app.</p>



<p>For users who are on the look out for new investment ideas, Longbridge’s community also provide stock list from other investors from within the community. The way it works is very similar to how you would check out other people’s playlists on music streaming or video sharing platforms!</p>



<figure class="wp-block-image size-large is-resized"><img decoding="async" src="http://34.96.221.168/wp-content/uploads/2021/10/longbridge3-1024x575.jpg" alt="" class="wp-image-19143" width="512" height="288" srcset="https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge3-1024x575.jpg 1024w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge3-300x169.jpg 300w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge3-768x432.jpg 768w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge3-1200x674.jpg 1200w, https://d3pwh2ime6p0el.cloudfront.net/wp-content/uploads/2021/10/longbridge3.jpg 1379w" sizes="(max-width: 512px) 100vw, 512px" /><figcaption><em>▲Longbridge’s social features are interesting and do not just provide standard content. However, the vast majority of contents are in Chinese.</em></figcaption></figure>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoibG9uZ2JyaWRnZSIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9hY3Rpdml0eS5sb25nYnJpZGdlLmhrL3BpcGVsaW5lL0hLX0RJU19URVNUL2luZGV4Lmh0bWw/c2FjPWxiJmxvZ2luVXJsPSZsYkZpdHNTdGF0dXNCYXI9MSZjaGFubmVsPUhIS04wMDAwMSZpbnZpdGUtY29kZT02MTQ3MDEiLCJmcm9tIjoiTG9uZ0JyaWRnZV9SZXZpZXcifQ==">Open an account now to enjoy welcome rewards
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<h2 id="Prospect"><strong>Prospect for long-term app usage</strong></h2>



<p>While Longbridge’s fees may not be the lowest in the market, the app itself provides good user experience. Furthermore, the stock analysis and social features provide users with wealth of information which we find non-standard and interesting.</p>



<p>Opinion seeking/sharing is one way to learn about investment. However, all investors should maintain their own assessment and only invest in accordance with their own goals and risk assessment.</p>



<h2 id="FAQ"><strong>Frequently asked questions</strong></h2>



<div class="schema-faq wp-block-yoast-faq-block"><div class="schema-faq-section" id="faq-question-1634552530398"><strong class="schema-faq-question">What is Longbridge’s background?</strong> <p class="schema-faq-answer">Longbridge is a Singapore-headquartered securities brokerage firm and was founded in March 2019. The company positioned itself as a social-driven securities brokerage services provider that provides mobile investing experience using cutting-edge technology.</p> </div> <div class="schema-faq-section" id="faq-question-1634552557544"><strong class="schema-faq-question">Does Longbridge have any investment license?</strong> <p class="schema-faq-answer">Longbridge is a licensed by the SFC (CE NO. BPX066) and holds Types 1 (Dealing in Securities), 4 (Advising on Securities) and 9 (Asset Management) licenses.</p> </div> <div class="schema-faq-section" id="faq-question-1634552575098"><strong class="schema-faq-question">How can I contact Longbridge?</strong> <p class="schema-faq-answer">Users can contact Longbridge using customer service hotline (+852 3851 1777), WhatsApp (+852 5223 6373) or email (<a href="mailto:service@longbridge.hk">service@longbridge.hk</a>).<br/></p> </div> </div>



<planto-button link="https://www.planto.hk/en/redirect/?params=eyJwcm9kdWN0IjoibG9uZ2JyaWRnZSIsInR5cGUiOiJpbnZlc3RtZW50X2Jyb2tlciIsImFwcGx5VXJsIjoiaHR0cHM6Ly9hY3Rpdml0eS5sb25nYnJpZGdlLmhrL3BpcGVsaW5lL0hLX0RJU19URVNUL2luZGV4Lmh0bWw/c2FjPWxiJmxvZ2luVXJsPSZsYkZpdHNTdGF0dXNCYXI9MSZjaGFubmVsPUhIS04wMDAwMSZpbnZpdGUtY29kZT02MTQ3MDEiLCJmcm9tIjoiTG9uZ0JyaWRnZV9SZXZpZXcifQ==">Open an account now to enjoy welcome rewards
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<p>Offers are subject to relevant terms and conditions.</p>


Longbridge app & social feature review | Enjoy free welcome offers!

New customers can register for an account with Longbridge using their mobile number, Facebook, Twitter or Apple accounts

Download a mobile app & register an account

After the initial registration, users can immediately enjoy market and community features within the app, however users will need to complete the remaining steps in order to fully enjoy Longbridge app – including ability to invest. Make sure to prepare HKID and bank account information for the remaining process

Authentication and account opening

Fill in required information and submit documents. To complete the account opening process, users will need to choose authentication methods between doing an online transfer, mailing in a cheque or doing the process in-person (Third Party Witness). We highly recommend the online transfer process as users can complete this process simply by submitting HKID, recent proof of address and deposit HK$10,000 (or US$1,500)

Information submission and fund deposit

Fund transfer in step 3 was the last process. It usually takes about 1 working day for Longbridge to complete your application

Completion

Longbridge is a Singapore-headquartered securities brokerage firm and was founded in March 2019. The company positioned itself as a social-driven securities brokerage services provider that provides mobile investing experience using cutting-edge technology.

What is Longbridge’s background?

Longbridge is a licensed by the SFC (CE NO. BPX066) and holds Types 1 (Dealing in Securities), 4 (Advising on Securities) and 9 (Asset Management) licenses.

Does Longbridge have any investment license?

Users can contact Longbridge using customer service hotline (+852 3851 1777), WhatsApp (+852 5223 6373) or email (<a href="mailto:service@longbridge.hk">service@longbridge.hk</a>).<br/>

How can I contact Longbridge?

With Longbridge, users can interact with other investors/experts on the platform, read in-depth content or watch live broadcasts – the experience itself is like going through investment pages or groups on social media.

Opening an account is easy with StashAway. It simply required you to complete a few steps before starting to invest in HKD and USD.

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Download the iOS or Android mobile app, or open an account through their website

Download StashAway

Set up an email and password, and provide your basic personal and financial information

Complete your personal and basic financial information

You can upload your ID card and proof of address right away, or submit them via WhatsApp later

Upload files

The StashAway system will create a portfolio based on the information you provided as well as your risk preferences, and after confirmation, you can easily deposit the funds via FPS or bank transfer.

Build investment portfolios and deposit funds

StashAway will automatically monitor the performance of your portfolios and adjust your positions based on the market and your goals. You can also change your risk appetite or investment objectives at any time<br/><br/>StashAway also has a strong customer service team who are available to answer customer inquiries via WhatsApp, Facebook Messenger, phone, and email. Their customer support is available 7 days a week and normally picks up the phone within 8 seconds during business hours.

Start investing

Exclusive StashAway X Planto Welcome Offer: New customers who successfully open a StashAway account via Planto’s link can enjoy 6 months of free management for up to HK$40,000 (worth HK$320 equivalent).

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