Boom Securities

 

Boom was one of the pioneers of online stock trading in Asia. Starting out as an independent with backing from investment banker William Hambrecht, it was bought by Japan’s Monex Group in August 2010.

Boom offers an extremely good range of Asian markets for online trading at rates far lower than any American or European investor will pay for these using brokers in their home country. Following the acquisition by Monex, it can apparently now deal on the Fukuoka, Nagoya, Osaka and Sapporo stock exchanges, making it one of the few discount stock brokers outside Japan to offer stocks not listed on the Tokyo exchange.

The firm is no longer the clear leader in Asia across the markets it covers – Singapore’s OCBC Securities and Phillip Securities are worth considering as well. However, it continues to get very good feedback for customer service and ease of use, and is still one of the best multimarket stock brokers around.

Markets available
Online tradingAustralia, China B, Hong Kong, Indonesia, Japan - Fukuoka, Japan - Nagoya, Japan - Osaka, Japan - Sapporo, Japan - Tokyo, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, USA, USA OTCBB and Pink Sheets
Broker-assisted tradingn/a
Dealing commissions and charges
Online minimummin ~HK$88-400
Online detailsAustralia 0.4% (min A$35) plus A$25, China B 0.37% (min Shanghai US$25, Shenzhen HK$200) plus US$35/HK$150, Hong Kong 0.18% (min HK$88), Indonesia 0.25% (min IDR250,000) plus IDR200,000, Japan 0.3% (min ¥2,500) plus ¥1,500, Korea 0.5% (min KRW40,000) plus KRW40,000, Malaysia 0.5% (min MYR80), Philippines 0.5% (min PHP1,500) plus PHP2,000, Singapore 0.3% (min S$30), Taiwan 0.3% (min NT$1,200) plus NT$2,300, Thailand 0.4% (min THB1,500) plus THB1,000, USA 0.01/share (min US$20)
Broker-assisted minimumn/a
Broker-assisted detailsn/a
Other fees and charges
Account fees and inactivity feesAccount opening fee HK$200, admin fee HK$200 per year
Custody chargesMalaysia custody charges: US$2 per stock per month plus single inactivity fee of US$3 per month if account was inactive that month, Taiwan custody charges: 0.1% per year, paid monthly
Dividend chargesDividend handling charges: Australia A$5, China B Shanghai US$6.5 Shenzhen HK$50, Hong Kong 0.5% (min HK$20), Indonesia IDR45,000, Japan ¥500, Korea KRW6,000, Malaysia 1% (min MYR20), Philippines PHP4,000, Singapore 1% (min S$10), Taiwan NT$200, Thailand 1% (min THB500), USA US$3
Corporate action chargesCorporate action handling charges: Hong Kong HK$100, Philippines PHP1,000, Taiwan NT$1,500, USA US$25
Currencies
Currency conversion chargesCommission not stated - "A small handling charge will be imposed"
Hold cash in foreign currenciesYes
Currencies allowedAUD, CNY, HKD, JPY, SGD, USD
Other details
Tax-advantaged accountsNone
Other products and servicesLimited range of mutual funds
Minimum account sizeNone
Company locationHong Kong
Further informationVisit Boom Securities website

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 Posted by at 1:10 pm