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US and Hong Kong Stocks Frequently Asked Questions

BiyaPay
Published on 2023-07-18 Updated on 2024-11-04

1. Does BiyaPay have a brokerage license?

We are a financial technology service provider. The brokerage we access is Tiger or Interactive Brokers. At present, we are positioned as a channel brokerage and currently have the RIA license under the US Securities Supervision Commission (SEC)!

2. Why can't I sell my position?

The biggest reason may be that your BiyaPay US and Hong Kong stock fund account balance is not enough for transaction fees. Please take the following two measures to sell stocks.
A. Reduce the number of shares traded
B. Recharge funds to BiyaPay US and Hong Kong stock fund account

3. How to choose the trading period before and after the market?

On the stock trading interface of your choice, select Allow after the premarket hours, and you can trade stocks during the premarket hours and after hours.
 

4. How can I verify whether my US and Hong Kong stock orders on BiyaPay are actually traded in Tiger Interactive Brokers?

If you want to test whether your order in BIYAPAY is really in the liquid market, you can choose a stock with relatively low liquidity (such as a market value of less than $100 million) to place a pending order, whether you can see it on the tiger! Because the global depth of US stocks and Hong Kong stocks is transparent and consistent, you can see whether they enter the liquid market through pending orders.
BIYAPAY US and Hong Kong stocks selling demo link: https://www.biyagl.com/NewsDetail.html?id=807

5. Why is the cost price much higher than the purchase price after I buy the stock?

Description of the minimum handling fee for US and Hong Kong stocks
Investors who have just started to contact US and Hong Kong stocks do not know much about US stocks and Hong Kong stock handling fees. The following is an introduction to the relevant issues about US stock handling fees and Hong Kong stock handling fees. Interested friends then look down.
How is the US stock handling fee calculated?
In BiyaPay The transaction fee for buying and selling US stocks is not calculated at the ratio of "transaction amount", but based on the "number of stocks traded". As shown in the figure, the transaction fee for each transaction The minimum transaction fee is $2.98, which is currently among the lowest among US stock brokerages.
US stock transaction fees include transaction commissions, platform fees, external agency fees and transaction activity fees, and CSRC fees (only charged when selling orders). The specific charges are as follows:
[1] Trading commission: $0.0039 per share, minimum charge of $0.99 per order , up to 0.5% of the total transaction value, charged by the securities company.
[2] Platform fee: $0.004 per share, a minimum of $1 per order , and a maximum of 0.5% of the total transaction value, charged by the securities company.
[3] External agency fees and transaction activity fees: $0.00396 per share, with a minimum charge of $0.99 per order and a maximum charge of 1% of the total transaction value, charged by the external agency.
[4] SFC fee (only charged when selling orders): 0.000008% of the amount of each transaction, and a minimum charge of 0.01 US dollars per transaction is charged by the US Securities Supervision Commission.
Second, how to calculate the handling fee of Hong Kong stocks?
In BiyaPay trading fees for Hong Kong stocks, in addition to a fixed platform fee, other fees are calculated at the rate of "transaction amount", as shown in the figure, the minimum fee for each transaction is 18.02 Hong Kong dollars.
Hong Kong stock transaction fees include transaction commissions, platform fees, transaction fees, settlement fees, transaction levies, stamp duties, and financial bureau transaction levies. The specific charging standards are as follows:
[1] Trading commission: 0.029% of each transaction amount, charged by the securities company.
[2] Platform fee: 15 Hong Kong dollars fixed per transaction , collected by the securities company.
[3] Transaction fee: 0.00565% of the amount of each transaction, with a minimum charge of 0.01 Hong Kong dollars per transaction , charged by the Hong Kong Stock Exchange.
[4] Settlement fee: 0.002% of each transaction amount, minimum fee 2 HKD , maximum 100 HKD, charged by Hong Kong Clearing House.
[5] Transaction levy: 0.0027% of the amount of each transaction, a minimum charge of 0.01 Hong Kong dollars per transaction , collected by the Hong Kong Securities Supervision Commission.
[6] Stamp Duty: 0.13% of each transaction amount, minimum charge 1 Hong Kong dollar , less than 1 Hong Kong dollar is calculated at 1 Hong Kong dollar, collected by the Hong Kong government.
[7] Finance Bureau transaction levy: 0.00015% of each transaction amount, collected by the Hong Kong FRC.
Investors in US and Hong Kong stocks will be particularly concerned about the issue of transaction fees. Taking US stocks as an example, the minimum fee for any transaction is $2.98. If a transaction you buy a relatively small number of U.S. stocks, the transaction price is relatively low, plus the bottom fee of $2.98, the cost price of your transaction will be particularly high, for example, you buy a share price of $3.22 Santander shares, plus the bottom fee of $2.98, your cost price per share is $6.2; so it is recommended that you trade the number of shares and the transaction price is higher than a certain value, so that the transaction cost will be relatively decreasing.