- More
- Download
BiyaPay
Published on Updated on
Getting started with Hong Kong stocks is not as difficult as you might think. The key is understanding its trading rules, market structure, and investment channels. Let me help you organize the key information so you can quickly get up to speed.
I. Hong Kong Stock Trading Hours and Rules
Hong Kong stock trading sessions are longer than A-shares, divided into multiple phases:
Pre-opening session: 9:00-9:30, where you can place and cancel orders with greater price volatility.
Morning session: 9:30-12:00, continuous trading.
Afternoon session: 13:00-16:00, same rules as morning session.
Closing auction session: 16:00-16:10, closing price determined through call auction.
Dark board trading: 16:15-18:30, off-market trading of new shares, allowing early capture of price movement opportunities.
Key trading rules:
T+0 trading: Shares bought on the same day can be sold on the same day, with no limit on number of times.
T+2 settlement system: Settlement of funds and shares completed on the second working day after trading.
No price limits: However, extreme fluctuations trigger a cooling-off period mechanism.
Trading unit: Measured in "lots," with varying lot sizes for different stocks (e.g., 100 shares, 500 shares, etc.).
00:11 Continuous trading session
00:17 Enhanced limit order rules
00:21 Call auction limit order submission and cancellation rules
00:31 Closing auction rules
00:39 Investment recommendations
II. Hong Kong Stock Market Structure and Main Indices
Main Board and GEM: Main board for mature enterprises, GEM for growth-oriented enterprises.
Hang Seng Index: Main indicator measuring Hong Kong stock performance, comprised of large-cap blue chips.
H-Share Index: Comprised of H-shares (state-owned enterprises from mainland China).
III. Investment Channels and Account Opening
Mainland investors can invest in Hong Kong stocks through the following methods:
Stock Connect: Opened through mainland brokers, requiring average account assets of not less than 500,000 RMB for the previous 20 trading days.
Hong Kong broker account: Direct account opening, requiring proof of overseas residence/work and a Hong Kong bank card.
ETFs and funds: Investing in ETFs tracking the Hang Seng Index (such as Tracker Fund).
IV. Risk Warnings
Exchange rate risk: Fluctuations between Hong Kong Dollar and RMB affect returns.
Market risk: Without price limits, stock prices may fluctuate significantly.
Trading costs: Commissions, stamp duties and other fees are higher than A-shares.
V. Trading Steps
Account preparation: Open a securities account and apply for Stock Connect privileges (must meet minimum average assets of 500,000 HKD over the previous 20 trading days).
Fund preparation: Transfer RMB to the securities account, which the system automatically converts to Hong Kong dollars. It is recommended to operate during working day mornings when exchange rate fluctuations are minimal to obtain better exchange rates.
Choose ETF: Enter the code in the trading software search bar (e.g., Hang Seng Tech ETF: 513180.HK). Note that the ".HK" suffix indicates a Hong Kong Exchange traded product with quotes in Hong Kong dollars.
Place order:
Trading hours: 9:30 AM to 12:00 PM and 1:00 PM to 4:00 PM Hong Kong time on each trading day.
Trading method: Trade through the securities account on the exchange, supporting T+0 trading system (shares bought on the same day can be sold on the same day).
Order recommendations: Beginners are advised to try limit orders first to avoid unfavorable execution prices during sharp price fluctuations. The minimum price movement for Hong Kong stock ETFs is 0.01 Hong Kong dollars.
Position management: After execution, you can view position gains/losses. Note that Hong Kong stock ETFs use T+0 trading; shares bought on the same day can be sold on the same day. However, due to settlement lag, funds from same-day sales need to wait until T+2 day to be withdrawn.
VI. Fee Breakdown
Hong Kong stock ETF trading fees mainly include the following items:
Commission: Charged by securities companies, with rates varying by broker and transaction amount, generally low (some brokers offer commission rates as low as 0.5 basis points). Some brokers have minimum commission standards (usually 5 HKD).
Trading levy: Charged by Hong Kong Securities and Futures Commission, at a rate of 0.0027% of transaction amount.
Trading fee: Charged by Hong Kong Exchange, at a rate of 0.00565% of transaction amount.
Share settlement fee: Charged by Hong Kong Securities Clearing Company, calculated based on annual fee rate of holdings value and accrued daily.
Stamp duty: For Hong Kong stock ETF trading, no stamp duty is charged on purchases, and 0.1% of transaction amount is charged on sales.
Management fee and custodian fee: Charged by fund companies and fund custodians for daily fund operations and management, with rates varying by fund type but generally low.
VII. Important Notes
Exchange rate risk: Trading involves conversion between Hong Kong dollars and RMB, requiring attention to exchange rate fluctuations' impact on returns.
Market risk: Hong Kong stock ETFs have no price limits, and daily fluctuations may be significant.
Trading costs: Frequent trading accumulates higher transaction fees, and it is recommended to control trading frequency reasonably.
VIII. Beginner Recommendations
Prioritize Hong Kong stock ETFs: Low threshold (can participate with several hundred yuan), risk diversification, suitable for beginners.
Dollar-cost averaging strategy: Purchase small amounts monthly, average out costs, reduce market volatility risk.
Learning resources: Can refer to Tracker Fund official website, Hong Kong Exchange official website and other platforms for more information.
Different brokers have significant differences in minimum commission requirements for Hong Kong stock ETFs
Commission on Hong Kong stock ETFs is not standardized. Different brokers have distinct fee policies, incentive mechanisms, and minimum thresholds. Core differences are reflected in three dimensions: account opening channels, broker types, and negotiation availability.
Broker type Representative platforms Default commission Minimum negotiable commission Minimum charge Special offers
Hong Kong internet brokers Webull Financial Not disclosed 0% (limited to 100 select ETFs) None January 1 – June 30, 2025, 100 Hong Kong stock ETFs enjoy 0 commission + 0 platform fee
Zunjia Securities Not disclosed 0% 1 HKD/transaction platform fee Trading commission is 0, only fixed platform fee charged
Mainland internet brokers Futu Securities 0.03% (3 basis points) 0.005% (0.5 basis points) 5 RMB Can apply for "commission-free" discount after account opening, some ETFs support zero commission
Tiger Brokers 0.03%–0.05% 0.005% 5 RMB Larger trading scale provides more negotiation room
Mainland traditional brokers (Stock Connect) Huatai International 0.03% 0.005% 5 RMB New customers can enjoy phase promotional rates through account managers
CITIC CLSA 0.03%–0.05% 0.0025% (2.5 basis points) 5 RMB Assets over 1 million or monthly trading over 5 million can apply for customized rates
Guotai Junan 0.03% 0.005% 5 RMB Can negotiate lower commissions with no asset threshold
Key conclusions:
Minimum commission can reach 0%: Webull Financial and Zunjia Securities offer zero commission on specific ETFs, currently the lowest-cost options in the market.
0.5 basis points is the mainstream negotiation floor: Mainstream brokers like Futu, Tiger, Huatai, and CITIC can all negotiate commissions down to 0.005% (charging only 0.5 yuan per 10,000 yuan traded) through account managers.
5 RMB minimum charge is widespread: Most brokers default to "single transaction commission below 5 RMB charged as 5 RMB," but specialized channels can waive this.
Discounts are non-public: All low-commission policies require application through dedicated account manager links, cannot be obtained through self-service opening on official website or app.
How to obtain minimum commission? Three-step practical method
Contact account manager
Do not open an account directly on the broker's app. Actively contact an online account manager and clarify your needs: "Apply for a Hong Kong stock ETF 0.5 basis point low commission account, can the 5 RMB minimum charge be waived?"
→ Account managers have exclusive incentive permissions and can lock in long-term effective rates for you.
Use specialized account opening link
Complete account opening through the dedicated QR code or link provided by your account manager, which automatically binds an incentive account to the system.
→ Self-service opening defaults to 3 basis points and cannot enjoy low commission rates.
Verify the settlement note after trading
After your first trade, immediately check the settlement note to confirm:
Whether commission rate is 0.005% or 0%
Whether the 5 RMB minimum charge was not collected
→ If not, contact your account manager immediately for correction.
High cost-performance recommendations
Pursuing ultimate low cost: Choose Webull Financial (100 ETFs with 0 commission) or Zunjia Securities (0 commission + 1 HKD platform fee).
Balancing stability and service: Choose Huatai International or CITIC CLSA, commissions negotiable down to 0.5 basis points, with mainland regulatory oversight ensuring fund safety.
High-frequency small-amount traders: Prioritize channels that can waive the 5 RMB minimum charge, avoiding hidden costs such as "charged 5 RMB commission on trading 10,000 yuan."
Hope this guide helps you quickly get started with Hong Kong stock ETF investing!
------------------------------------------
End
BiyaPay makes crypto more popular!
Contact Us
Mail: service@biyapay.com
Customer Service Telegram: https://t.me/biyapay001
Telegram Community: https://t.me/biyapay_ch
Digital Asset Community: https://t.me/BiyaPay666
Community
Regulation Subject
BIYA GLOBAL LLC
BIYA GLOBAL LLC is a licensed entity registered with the U.S. Securities and Exchange Commission (SEC No.: 802-127417); a certified member of the Financial Industry Regulatory Authority (FINRA) (Central Registration Depository CRD No.: 325027); regulated by the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC).
BIYA GLOBAL LLC is a licensed entity registered with the U.S. Securities and Exchange Commission (SEC No.: 802-127417); a certified member of the Financial Industry Regulatory Authority (FINRA) (Central Registration Depository CRD No.: 325027); regulated by the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC).
BIYA GLOBAL LLC
BIYA GLOBAL LLC is registered with the Financial Crimes Enforcement Network (FinCEN), an agency under the U.S. Department of the Treasury, as a Money Services Business (MSB), with registration number 31000218637349, and regulated by the Financial Crimes Enforcement Network (FinCEN).
BIYA GLOBAL LLC is registered with the Financial Crimes Enforcement Network (FinCEN), an agency under the U.S. Department of the Treasury, as a Money Services Business (MSB), with registration number 31000218637349, and regulated by the Financial Crimes Enforcement Network (FinCEN).
BIYA GLOBAL LIMITED
BIYA GLOBAL LIMITED is a registered Financial Service Provider (FSP) in New Zealand, with registration number FSP1007221, and is also a registered member of the Financial Services Complaints Limited (FSCL), an independent dispute resolution scheme in New Zealand.
BIYA GLOBAL LIMITED is a registered Financial Service Provider (FSP) in New Zealand, with registration number FSP1007221, and is also a registered member of the Financial Services Complaints Limited (FSCL), an independent dispute resolution scheme in New Zealand.
©2019 - 2026 BIYA GLOBAL LIMITED