Can I still open an account with Tiger and Fortis Securities? How to withdraw funds from US stocks?

First of all, the policy is clear from the SFC

In line with the idea of “effectively curbing the incremental amount and orderly resolving the stock”, the CSRC intends to require Futu Holdings and Tiger Securities to rectify the above-mentioned violations.

First, they will prohibit the incremental illegal business activities in accordance with the law. They are prohibited from soliciting domestic investors, developing new domestic clients and opening new accounts.

Second, the stock business was properly handled. In order to maintain a stable market, stock domestic investors are allowed to continue trading through the original foreign institutions, but foreign institutions are prohibited from accepting incremental funds transferred to such investors’ accounts in violation of China’s foreign exchange management regulations.

A brief explanation.

The first one, simply put, is that domestic investors (mainland investors) can no longer open new accounts through offshore securities companies. In Tiger Securities, Futu Securities and other U.S. and Hong Kong stock brokers are now unable to open U.S. and Hong Kong stock accounts. Even if you have the link to open an account, it can not be opened, usually after clicking on it will prompt that the account can not be opened.

The second one, simply put, is that users who have already opened Hong Kong and U.S. stock accounts at such overseas brokerages and have funds can continue to trade Hong Kong and U.S. stocks. However, no new domestic funds are allowed to be deposited into the account.

Secondly, how can I withdraw funds from Tiger Securities now?

The answer is yes.

There are two types, one with a Hong Kong bank card and one without a Hong Kong bank card.

The first one, with a Hong Kong bank card

Specific steps: In the Tiger Securities APP, bind your Hong Kong bank card and apply for withdrawal of funds, which will normally take 1-2 working days to arrive at your account.

The second kind, no Hong Kong bank card, and it is difficult to do Hong Kong bank card

Mainland people’s U.S. and Hong Kong stock account has been suspended, after the restart is certainly a tightened state; mainland people’s Hong Kong bank account also significantly tightened the mainland ground sign, to Hong Kong has become the general trend. Even to Hong Kong, according to the current hot situation of Hong Kong bank accounts, I wonder if there will be a tightening?

If you do not go to Hong Kong in the Mainland, then the same as the Hong Kong bank’s domestic ground visa, submit information, lawyer witness, Hong Kong received information after the review, the whole process at least half a month, it really is to pay a small cost of money and time costs ah.

Finally, where else can I go to open an account? How to access funds without a Hong Kong bank card?

Recently, we have received many private letters from our partners asking if there are any mainlanders who can open U.S. and Hong Kong stock accounts with brokerage firms.

The following I just found the mainlanders can open U.S. and Hong Kong stock accounts, and no foreign bank card can access the funds App to share out, I hope to help the need for small partners.

The first thing you need to do is to open a Biyapay App to open a U.S. and Hong Kong stock wallet.

Everything before it’s too late, the year before I opened BiyaPay U.S. and Hong Kong stock accounts to earn. And for those who have not opened it now, it’s not too late. I heard that there are still various preferential activities to open an account now, so don’t let your wallet lose money again.

BiyaPay was created in 2019 and has been licensed by the SEC in the United States, so it is safe and can be used with confidence. Moreover, BiyaPay has a special one-on-one service advisor to guide you, so you can contact the service advisor if you encounter any problems in depositing and withdrawing funds, which I personally feel is quite good.

BiyaPay really has 0 threshold, no restrictions on registration for new users, and no offshore account is required, so you can participate in US or Hong Kong stock trading in real time, and you can also enjoy real-time access to funds, which is really awesome.

I heard that the policy of opening an account in Hong Kong was tightened in June, and several millions of assets are required, so if you want to open a BiyaPay account for U.S. and Hong Kong stocks, hurry up and arrange it!

That’s all I have to share today, I hope it will help you. If there are friends around you who have such questions, you can also share this article to Ta Oh!