General Business Terms

SEGREGATION AND CLIENT FUNDS
What does ”segregated accounts” mean?
 
In accordance with Cap 571I - Securities and Futures (Client money) Rules and Cap 571H - Securities and Futures (Client Securities) Rules, issued by Securities and Futures Commission of Hong Kong, Saxo Capital Markets is obliged to hold money received from clients and assets held on behalf of clients in accounts separated from the company’s own money and assets.

All funds deposited by clients with Saxo Capital Markets will be kept in a segregated client funds account in accordance with the above regulation. Securities held by clients with Saxo Capital Markets are equally kept in segregated custody accounts.
 
  • These pages contain information about the services and products of Saxo Capital Markets HK Limited.
     
    The material is provided for informational purposes only without regard to any particular user's investment objectives, financial situation, or means. Hence, no information contained herein is to be construed as a recommendation; or an offer or an attempt to offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer, attempt to offer or solicitation, or trading strategy would be illegal. Saxo Capital Markets does not guarantee the accuracy or completeness of any information or analysis supplied. Saxo Capital Markets shall not be liable to any customer or third person for the accuracy of the information or any market quotations supplied through this service to a customer, nor for any delays, inaccuracies, errors, interruptions or omissions in the furnishing thereof, for any direct or consequential damages arising from or occasioned by said delays, inaccuracies, errors, interruptions or omissions, or for any discontinuance of the service. Saxo Capital Markets accepts no responsibility or liability for the contents of any other site, whether linked to this site or not, or any consequences from your acting upon the contents of another site. Opening this website shall not render the user a customer of Saxo Capital Markets nor shall Saxo Capital Markets owe such users any duties or responsibilities as a result thereof.

    Risk
    Foreign exchange trading and investment in derivatives can be very speculative and may result in losses as well as profits. Foreign exchange and derivatives trading entails a considerable risk factor and is therefore not suitable for every investor. The website does not take into account special investment goals, the financial situation or specific requirements of individual users. Hence, you should carefully consider your financial situation and consult your professional advisors as to the suitability of your situation prior to making any investment or entering into any transactions.
     
    Local regulatory restrictions
    This website can be accessed worldwide. The information provided is however only intended for use by, any person in any country where such use would not be contrary to local law or regulation. None of the products and services referred to on this website is available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the sole responsibility of the recipient to ascertain the terms of and comply with any local law or regulation to which they are subjected.
     
    Use of the website
    Saxo Capital Markets including its directors, officers or employees shall not be liable for any damages or injury arising out of your access to, or inability to access, this site or from your reliance on any information provided herein. Saxo Capital Markets disclaims any and all liability for direct, indirect, incidental, consequential, punitive, and special or other damages, lost opportunities, lost profit or any other loss or damages of any kind. This limitation includes any damage or virus, which may affect your computer equipment.
     
    Translation deviances
    For customer benefit Saxo Capital Markets offers this site in a wide range of languages. Users of the website agree that Saxo Capital Markets shall not be held liable to anyone for any direct or indirect loss or injury caused in whole or in part by the incomplete or inaccurate translation of the original English text to another language. Any translation that constitutes a departure from the English text should be disregarded.
     
    Copyright
    The works of authorship contained in this website, including but not limited to all design, text and images, are owned, except as otherwise expressly stated, by Saxo Capital Markets, and may not be copied, reproduced, transmitted, displayed, performed, distributed, rented, sublicensed, altered, stored for subsequent use or otherwise used in whole or in part in any manner without the prior written consent of Saxo Capital Markets.
     

    Privacy and Use of Personal Data
    When signing up for a demo or live account Saxo Capital Markets will, for administrative purposes, require and store different information about its customers, for example name, address. Furthermore some financial information is required for credit assessment. We also require your email address to be able to send you your login information. Your email address will not be passed on to third parties, but may be used by Saxo Capital Markets in relation to its products (including any marketing campaigns related to these products). If you do not wish to receive such marketing material please send an email to institutional@saxomarkets.com.hk stating so.

    Saxo Capital Markets' employees are obliged to treat this information as confidential and may not pass on or use confidential information about you without justification. Please note that in certain cases, Saxo Capital Markets may be required to pass on information to the public authorities.>
    Information about customer relationships will only be disclosed to third parties if Saxo Capital Markets is entitled to disclose the information according to the laws of Hong Kong or has obtained the customer's written consent.

    Saxo Capital Markets can disclose the following information:
    • General customer data, such as name, address and personal registration number, to companies carrying out administrative tasks for Saxo Capital Markets
    • General customer data about corporate customers to financial companies subject to professional secrecy, for the purpose of marketing and advisory services
    Finally, Saxo Capital Markets may pass on information if you have given your consent. You can always revoke your consent or change it.
    If it proves that our information about you is incorrect, we will of course correct it immediately. We will also immediately inform anyone who may have received this information of the error.
     
    Please note that if you need to change your personal information or correct an error, you may do so by contacting us via email at institutional@saxomarkets.com.hk or call us on +852 3760 1319.
     
    Third party services
    On the website, other companies may advertise their services through links or banners. Saxo Capital Markets does not accept any responsibility or liability for the services offered by any other website or company you may visit as a result of such links or banners. If you decide to act on any such information or offers, you do so entirely at your own risk.
    Any dispute related to the use of these pages will be settled in accordance with the laws of Hong Kong.
     
    Client relationship
    When applying for an account with Saxo Capital Markets, each client will be subject to the relevant business terms depending on the type of relationship. All clients must be familiar with the specific business terms and related policies, which apply to the client relationship with Saxo Capital Markets.
  • These Terms of Use (the "Agreement") are applicable to the: (i) web pages, (ii) services, (iii) content, (iv) databases and (v) information (collectively referred to as the "Services") together with the agreements and software provided by Saxo Capital Markets to which you may have access either by using Saxo Capital Markets's website or, upon request, in hard copy. The content and information included in these Services are provided by Saxo Capital Markets and its third party suppliers (collectively, the "Information Providers"). These Services are made available by Saxo Capital Markets subject to the terms and conditions stated below.

    Agreement

    By using the Services, you are indicating your consent to be bound by the terms of this Agreement. If you do not agree, Saxo Capital Markets is not willing to provide you with access to the Services and you should immediately discontinue your use of the Services.

     

    You agree that Saxo Capital Markets may modify this Agreement at any time in its sole discretion and without prior notice to you. Such changes will be posted online and will be effective upon posting. You should review this Agreement periodically to ensure familiarity with its then-current terms and conditions. Your continued use of the Services shall constitute your acceptance of this Agreement and your continued use of the Services following any modification of this Agreement shall constitute your acceptance to the Agreement, as amended. If you do not agree to the changes, you must notify Saxo Capital Markets in writing or by telephone of your refusal and discontinue your use of the Services.

    Use of the Services

    These Services are intended for your personal, non-commercial use.

    By using the above-mentioned Services and the software provided by Saxo Capital Markets, you acknowledge and agree that:

     

    1. It is prohibited to use, store, reproduce, display, modify, sell, publish, transmit and distribute, or commercially exploit the Services without prior written permission of Saxo Capital Markets and/or any third-party Information Provider(s). 
    2. Saxo Capital Markets and/or any third-party Information Provider(s) reserve all rights to proprietary information (including, but not limited to, all intellectual property rights such as; patents, trade marks, service marks, copyrights, database rights, topography rights, industrial design, know-how, trade secrets, trade names, logos, designs, symbols, emblems, insignia, slogans, drawings, plans and other identifying materials, in all forms whether or not registered or capable of registration and any other rights relating to intellectual property in accordance with the applicable laws,) subsisting in or relating to the Services. 
    3. You shall not use the Information for any unlawful or unauthorized purpose. 
    4. The use and interpretation of the Services requires skill and judgment, and that you shall at all time exercise your own judgment in the use of the Services. 
    5. You are responsible for all statements made and acts or omissions that occur while your user identification name (or "User Name") and passwords are being used. You are responsible for protecting and securing your User Name and password from unauthorized use and disclosure. If you become aware of, or believe there has been, any breach of security for any of your information stored on Saxo Capital Markets's website, such as the theft or unauthorized use of your User Name, password, or any other information, you will notify Saxo Capital Markets immediately. 
    6. The Services and the software have been prepared for informational purposes only without regard to any particular user's investment objectives, financial situation, or means, and Saxo Capital Markets is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer or an attempt to offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer, attempt to offer or solicitation, or trading strategy would be illegal. Certain transactions, including those involving futures, options, and other complex derivatives, give rise to substantial risk and are not suitable for all investors. 
    7. The fact that Saxo Capital Markets has made the Services available to you constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described on the website is suitable or appropriate for you. Many of the products described in the Services involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you. Any discussion of the risks contained herein with respect to any product should not be considered to be a comprehensive disclosure of all risks or a complete discussion of the risks which are mentioned. You should not construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice.

    Termination

    Saxo Capital Markets may exercise full discretion in modifying or discontinuing any part or whole of the Services specified under points (i) to (v) subject to this Agreement at any time without cause or prior notice.

    Disclaimer of Warranties

    Saxo Capital Markets and the Information Provider(s) expressly disclaim all warranties of any kind, express or implied, including without limitation any warranty of merchantability, fitness for a particular purpose or non-infringement.

    Although the Services provided have been obtained from sources deemed to be reliable, the Services are provided "AS-IS", and Saxo Capital Markets and/or any third-party Information Provider(s) provide the Services without responsibility for accuracy and correctness. By using the Services you agree that errors and/or omissions contained in such information shall not be made the basis for any claim, demand or cause of action against Saxo Capital Markets or any Information Provider(s).

    Limited Liability

    Neither Saxo Capital Markets nor any of its third-party Information Providers shall be liable for any direct, indirect, incidental, special or consequential damages arising out of or relating to this Agreement or resulting from the use or the inability to use the Services, including but not limited to damages for loss of profits, use, data or other intangible damages, even if such party has been advised of the possibility of such damages.

    Miscellaneous

    By agreeing to the Terms of Use of the Services and the software you acknowledge and agree that Saxo Capital Markets, in the interest of security, reserves the right to record all telephone conversations, internet conversations including chat, and any meetings between you and Saxo Capital Markets.

     

    You furthermore agree that Saxo Capital Markets reserves the right to monitor your use of the Services on the website and that the resultant information may be used by Saxo Capital Markets for its internal business purposes.

     

    Any claims arising from this Agreement will be governed by and construed in accordance with the laws of Hong Kong and shall be subject to the exclusive jurisdiction of the Courts of Hong Kong.

     

    Cookies on institutional.hk.saxomarkets.com

     

    Essential cookies

    These cookies are essential in order to enable you to move around the website and use its features, such as accessing secure areas of the website. Without these cookies services you have asked for, like shopping baskets or e-billing, cannot be provided.

     

    Performance cookies

    These cookies collect information about how visitors use a website, for instance which pages visitors go to most often, and if they get error messages from web pages. These cookies don’t collect information that identifies a visitor. All information these cookies collect is aggregated and therefore anonymous. It is only used to improve how a website works.

     

    Functionality Cookies

    These cookies allow the website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced, more personal features. For instance, a website may be able to provide you with local weather reports or traffic news by storing in a cookie the region in which you are currently located.
    These cookies can also be used to remember changes you have made to text size, fonts and other parts of web pages that you can customise. They may also be used to provide services you have asked for such as watching a video or commenting on a blog. The information these cookies collect may be anonymised and they cannot track your browsing activity on other websites.
     
    Targeting cookies or advertising cookies
    These cookies are used to deliver adverts more relevant to you and your interests They are also used to limit the number of times you see an advertisement as well as help measure the effectiveness of the advertising campaign.
    They are usually placed by advertising networks with the website operator’s permission. They remember that you have visited a website and this information is shared with other organisations such as advertisers. Quite often targeting or advertising cookies will be linked to site functionality provided by the other organisation.
     
    What can I do about these cookies?
    If you do not want to use our services you may block these cookies using your web browser. To do so please visit aboutcookies.org for more information and instructions on how to manage cookies.
    Please be aware that blocking of cookies will mean that you are prohibited from visiting this site.
     
    Use of flash files
    Across institutional.hk.saxomarkets.com we make use of flash files, which present information, allow integration with 3rd parties (such as YouTube) and can offer a richer online experience.
     
    Currently technology is limited in its ability to review the 'inner workings' of flash files. We have strived to identify any flash elements that are likely to set cookies but, at this point in time, we can not guarantee the status of every flash file.
     
    Adobe offers a tool to monitor, opt out and remove 'flash cookies' - for more information visit adobe.com.

     

  • Our Commitment to Fair Dealing

    Saxo Capital Markets’ (SCM) Board and Senior Management are committed to delivering fair dealing outcomes to our customers. At Saxo Capital Markets, fair dealing is central to our culture and we commit to:

    • Ensure our sales staff are well trained and possess the relevant knowledge and skills to empower our customers, in undertaking self directed trading.
    • Provide clear and relevant information to our customers to enable them to make informed financial decisions when investing in the financial products we offer.
    • Respond to all feedback and complaints in an independent, prompt and effective manner.

    Saxo Capital Markets constantly strives to maintain the highest level of service and welcomes any feedback which will help us identify areas of improvement in our products and services. We recognize that this is a continuous journey and we assure you that fair dealing is and will remain central to the way we conduct business.

     

    Yours Sincerely,

    Saxo Capital Markets

  • All content of the institutional.hk.saxomarkets.com website is the property of Saxo Capital Markets unless otherwise stated. For pages where no third-party rights are listed (in the copyright statement at the bottom of each page), the following rules apply:

    • You may print the pages and store one copy on your PC for personal use.
    • You may not distribute the information to others but you may quote opinions and information on the site if you include a clear reference to Saxo Capital Markets and to the website and to the disclaimer available on institutional.hk.saxomarkets.com/en
    • You may also link to any portion of the site if the link clearly states the name of institutional.hk.saxomarkets.com/en and if it opens the page in a new browser window and not in a foreign frameset.

    No other uses of the website and its content than the ones described above are allowed or may be inferred unless expressly permitted in writing by Saxo Capital Markets.

    Any questions about copyright issues in relation to the website should be directed to:
    institutional@saxomarkets.com.hk

  • Your privacy on the internet is very important to us. The success of our business depends upon our ability to maintain the trust of our clients. As part of the operation of Saxo Capital Markets HK Limited (“Saxo Capital Markets”) we gather certain types of information about Saxo Capital Markets users, and we would like to explain the types of information we gather, what we do with it and how you can correct or change the information. Please note that this policy applies only to Saxo Capital Markets and not to other companies or organisations to which we link.

    Information collected by Saxo Capital Markets

    Saxo Capital Markets collects two types of information from our users:

    • Personal information, such as names, addresses, email addresses etc., and
    • Traffic pattern information on Saxo Capital Markets

    Personal information is collected when our users provide personal information to Saxo Capital Markets upon registering for membership or when applying on-line for an account. We will limit the collection of personal information to what is necessary to administer our business in an effort to provide you with superior service.

    Traffic pattern information includes information on which pages users access or visit, and how many users log into Saxo Capital Markets on a daily basis. This kind of information is only used in its aggregated form.

    All practical steps will be taken to ensure that the personal information collected will not be kept longer than necessary and that Saxo Capital Markets shall comply with all statutory and regulatory requirements in Hong Kong in respect of the collection and/or retention and/or use of personal data and/or information.

    Use of cookies

    Saxo Capital Markets uses cookies to collect information. A cookie is a small data file that most major web sites write to your hard disk for record keeping purposes when you visit them. Cookies allow Saxo Capital Markets to measure activity on the website and to improve your user experience, for example by remembering your passwords and viewing preferences, thus allowing you to visit various member-only parts of the website without re-registering. Cookies are also used by Saxo Capital Markets to measure activity on the website and make improvements and updates based on which areas are popular and which are not.

    Saxo Capital Markets does not use cookies to retrieve information which was not originally sent in a cookie. Saxo Capital Markets does not use information transferred through cookies for any direct promotional or marketing purposes without your consent.

    Use of information collected by Saxo Capital Markets

    Saxo Capital Markets uses both the personal and aggregated information that we collect for multiple purposes.

    The information is used:

    • To improve the content of the website
    • To customise the content and/or the layout of the website for each individual user
    • To notify users about updates to the website
    • To send out newsletters or information about other opportunities that we believe will be of interest to you We will only send this to you if you have indicated that you wish to receive such information and we will honor you opt-out requests

    Saxo Capital Markets may share traffic pattern information with third parties for both advertising and promotional purposes.

    Saxo Capital Markets does not share your personal information with any third parties.

    Saxo Capital Markets may also disclose personal information when we believe in good faith that disclosure is legally required, or in order to protect our rights.

    Please read the following:  "Notice to Customer Relating to the Personal Data Privacy Ordinance”

    Notice to Customer Relating to the Personal Data Privacy Ordinance 

  • Risk Warning

    A Simplified Summary on leveraged products and the risks associated with them
    Trading in financial products always involves risk. As a general rule, you should therefore only trade in financial products that you are familiar with and the understand the risk associated with them. You should carefully consider your financial situation and consult your independent professional advisors as to the suitability of your situation prior making any investment.
     
    Securities Trading

    The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.

     

    Futures & Options Trading

    The risk of loss in trading futures contracts or options is substantial. In some circumstances, you may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore study and understand futures contracts and options before you trade and carefully consider whether such trading is suitable in the light of your own financial position and investment objectives. If you trade options you should inform yourself of exercise and expiration procedures and your rights and obligations upon exercise or expiry

     

    1. Effect of "Leverage" or "Gearing"
      Transactions in futures carry a high degree of risk. The amount of initial margin is small relative to the value of the futures contract so that transactions are "leveraged" or "geared". A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit: this may work against you as well as for you. You may sustain a total loss of initial margin funds and any additional funds deposited with the firm to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.
    2. Risk-reducing orders or strategies
      The placing of certain orders (e.g. "stop-loss" orders, or "stop-limit" orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as "spread" and "straddle" positions may be as risky as taking simple "long" or "short" positions.
    3. Options - Variable degree of risk
      Transactions in options carry a high degree of risk. Purchasers and sellers of options should familiarise themselves with the type of option (i.e. put or call) which they contemplate trading and the associated risks. You should calculate the extent to which the value of the options must increase for your position to become profitable, taking into account the premium and all transaction costs.
       
      The purchaser of options may offset or exercise the options or allow the options to expire. The exercise of an option results either in a cash settlement or in the purchaser acquiring or delivering the underlying interest. If the option is on a futures contract, the purchaser will acquire a futures position with associated liabilities for margin (see the section on Futures above). If the purchased options expire worthless, you will suffer a total loss of your investment which will consist of the option premium plus transaction costs. If you are contemplating purchasing deep-out-of-the-money options, you should be aware that the chance of such options becoming profitable ordinarily is remote.
      Selling ("writing" or "granting") an option generally entails considerably greater risk than purchasing options. Although the premium received by the seller is fixed, the seller may sustain a loss well in excess of that amount. The seller will be liable for additional margin to maintain the position if the market moves unfavourably. The seller will also be exposed to the risk of the purchaser exercising the option and the seller will be obligated to either settle the option in cash or to acquire or deliver the underlying interest. If the option is on a futures contract, the seller will acquire a position in a futures contract with associated liabilities for margin (see the section on Futures above). If the option is "covered" by the seller holding a corresponding position in the underlying interest or a futures contract or another option, the risk may be reduced. If the option is not covered, the risk of loss can be unlimited.
       
      Certain exchanges in some jurisdictions permit deferred payment of the option premium, exposing the purchaser to liability for margin payments not exceeding the amount of the premium. The purchaser is still subject to the risk of losing the premium and transaction costs. When the option is exercised or expires, the purchaser is responsible for any unpaid premium outstanding at that time.
       
      Additional Risk Common to Futures and Options
    4. Terms and conditions of contracts
      You should ask the firm with which you deal about the terms and conditions of the specific futures or options which you are trading and associated obligations (e.g. the circumstances under which you may become obliged to make or take delivery of the underlying interest of a futures contract and, in respect of options, expiration dates and restrictions on the time for exercise). Under certain circumstances the specifications of outstanding contracts (including the exercise price of an option) may be modified by the exchange or clearing house to reflect changes in the underlying interest.
    5. Suspension or restriction of trading and pricing relationships
      Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or "circuit breakers") may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. If you have sold options, this may increase the risk of loss.
      Further, normal pricing relationships between the underlying interest and the futures, and the underlying interest and the option may not exist. This can occur when, for example, the futures contract underlying the option is subject to price limits
      while the option is not. The absence of an underlying reference price may make it difficult to judge "fair value".
    6. Deposited cash and property
      You should familiarise yourself with the protections given to money or other property you deposit for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.
    7. Commission and other charges
      Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss.
    8. Transactions in other jurisdictions
      Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose you to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before you trade you should enquire about any rules relevant to your particular transactions. Your local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where your transactions have been effected. You should ask the firm with which you deal for details about the types of redress available in both your home jurisdiction and other relevant jurisdictions before you start to trade.
    9. Currency risks
      The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in your own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency.
    10. Trading facilities
      Electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or participant firms. Such limits may vary: you should ask the firm with which you deal for details in this respect.
    11. Electronic trading
      Trading on an electronic trading system may differ from trading on other electronic trading systems. If you undertake transactions on an electronic trading system, you will be exposed to risks associated with the system including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all.
    12. Off-exchange transactions
      In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which you deal may be acting as your counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before you undertake such transactions, you should familiarise yourself with applicable rules and attendant risks.
    Leveraged Foreign Exchange Trading

    The risk of loss in leveraged foreign exchange trading can be substantial. You may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore carefully consider whether such trading is suitable in light of your own financial position and investment objectives.

     

    Growth Enterprise Market Stocks Trading

    Growth Enterprise Market (GEM) stocks involve a high investment risk. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. GEM stocks may be very volatile and illiquid.
    You should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors.
    Current information on GEM stocks may only be found on the internet website operated by The Stock Exchange of Hong Kong Limited. GEM Companies are usually not required to issue paid announcements in gazetted newspapers.
    You should seek independent professional advice if you are uncertain of or have not understood any aspect of this risk disclosure statement or the nature and risks involved in trading of GEM stocks.

     

    Risk of Client Assets Received or Held Outside Hong Kong

    Client assets received or held by the licensed or registered person outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Cap.571) and the rules made thereunder. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.

     

    Risk of Providing an Authority to Repledge your Securities Collateral etc

    There is risk if you provide the licensed or registered person with an authority that allows it to apply your securities or securities collateral pursuant to a securities borrowing and lending agreement, repledge your securities collateral for financial accommodation or deposit your securities collateral as collateral for the discharge and satisfaction of its settlement obligations and liabilities.

    If your securities or securities collateral are received or held by the licensed or registered person in Hong Kong, the above arrangement is allowed only if you consent in writing. Moreover, unless you are a professional investor, your authority must specify the period for which it is current and be limited to not more than 12 months. If you are a professional investor, these restrictions do not apply.

    Additionally, your authority may be deemed to be renewed (i.e. without your written consent) if the licensed or registered person issues you a reminder at least 14 days prior to the expiry of the authority, and you do not object to such deemed renewal before the expiry date of your then existing authority.

     

    You are not required by any law to sign these authorities. But an authority may be required by licensed or registered persons, for example, to facilitate margin lending to you or to allow your securities or securities collateral to be lent to or deposited as collateral with third parties. The licensed or registered person should explain to you the purposes for which one of these authorities is to be used.

     

    If you sign one of these authorities and your securities or securities collateral are lent to or deposited with third parties, those third parties will have a lien or charge on your securities or securities collateral. Although the licensed or registered person is responsible to you for securities or securities collateral lent or deposited under your authority, a default by it could result in the loss of your securities or securities collateral.

     

    A cash account not involving securities borrowing and lending is available from most licensed or registered persons. If you do not require margin facilities or do not wish your securities or securities collateral to be lent or pledged, do not sign the above authorities and ask to open this type of cash account.

     

    Risk of Providing an Authority to Hold Mail or to Direct Mail to Third Parties

    If you provide the licensed or registered person with an authority to hold mail or to direct mail to third parties, it is important for you to promptly collect in person all contract notes and statements of your account and review them in detail to ensure that any anomalies or mistakes can be detected in a timely fashion.

     

    Risk of Margin Trading

    The risk of loss in financing a transaction by deposit of collateral is significant. You may sustain losses in excess of your cash and any other assets deposited as collateral with the licensed or registered person. Market conditions may make it impossible to execute contingent orders, such as "stop-loss" or "stop-limit" orders. You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated without your consent. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. You should therefore carefully consider whether such a financing arrangement is suitable in light of your own financial position and investment objectives.

     

    Risk Disclosure of Selling (writing) Forex Options

    Risk Disclosure of Selling (writing) Forex Options