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Screenshot of a breaking news alert e-mail from Q2 2017
Hong Kong financial startup 8 Securities announced today that customers can trade over 15,000 US, HK and China H shares and index funds for $0 commission. “Our technology has reduced our cost to execute a trade to almost $0 so we are simply passing that savings on to our customers,” said Mikaal Abdulla, CEO of 8 Securities.
Asia-Pacific focused 8 Securities is licensed in Hong Kong under the Securities & Futures Commission and in Japan under the Financial Services Agency. The firm serves customers in 47 countries around the world.
Accounts can be held in USD, RMB, and HKD.
“Unlike traditional financial services, we run highly efficient technology and don’t need to support the high cost of branches and manual processes,” he went on to say. “People want a great mobile experience. Mobile now accounts for the majority of our transactions.”
So how will the company make money?
The company intends to earn revenue in the future by offering margin lending to its experienced traders. The free stock trading service has been launched to its existing customers. Over 10,000 additional people have so far joined a waiting list for early access.
For more information on the early signup click here.