IB Hong Kong based accounts transferred to newly formed IB HK

[luisHK]

I should have been clearer. Would I get margin benefits if I transfer to IBHK from IBUK (using PM)?

It should be the same, but ime transferring to IBHK you will lose access to cfds, and need to liquidate your existing cfds positions in case you hold any.
On the other hand you might be able to buy again non EU etfs, but I have no experience with that.

 

[d08]

It should be the same, but ime transferring to IBHK you will lose access to cfds, and need to liquidate your existing cfds positions in case you hold any.
On the other hand you might be able to buy again non EU etfs, but I have no experience with that.

I completely gave up on CFDs due to the executing issues. Not a big fan of "maybe will execute". Thanks for the heads up.

 

[luisHK]

Well, that's the only issue i ever had with IBHK, or at least the only negative difference I noticed compared to IBUK and IBUS. You should be fine if you don't need Cfds

 

[def]

I should have been clearer. Would I get margin benefits if I transfer to IBHK from IBUK (using PM)?

You need to live in HK to have an IBHK account. For differences over PM, not much but PM is only available to those with accounts over 100K.

SIPC - depends where stocks are held and how the gov't would consider the handling of funds in the omnibus account. Again, I'd argue the possibility of ever getting there is so low considering the firms equity capital position.

 

[mfhboy]

This is an old post and not fully related but I believe the pending Hong Kong-China extradition law this June(has the blessing from CCP) will affect all IB HK users as the law comes with the right to froze related suspect's asset, which I want to discuss here, our IB HK asset and fund.

I hope IB HK would give a clear statement if asset under IB HK including cash would be frozen on demand by HKSAR gov?

 

[d08]

This is an old post and not fully related but I believe the pending Hong Kong-China extradition law this June(has the blessing from CCP) will affect all IB HK users as the law comes with the right to froze related suspect's asset, which I want to discuss here, our IB HK asset and fund.

I hope IB HK would give a clear statement if asset under IB HK including cash would be frozen on demand by HKSAR gov?

Could be the reason my old IBHK Account Management link now redirects to their Australian domain? I suspect much of the activity will migrate out of HK for the reasons you mentioned.

 

[def]

This is an old post and not fully related but I believe the pending Hong Kong-China extradition law this June(has the blessing from CCP) will affect all IB HK users as the law comes with the right to froze related suspect's asset, which I want to discuss here, our IB HK asset and fund.

I hope IB HK would give a clear statement if asset under IB HK including cash would be frozen on demand by HKSAR gov?

I take a more pragmatic approach - politics aside. HK is a financial center with a rule of law. The government, like all others, can instruct banks or brokers to freeze funds. The US certainly does this as an example. If the freezing of assets was wantonly abused, it would kill HK as a financial and banking center. That is the least of my concerns and I don't foresee as a real concern.

 

[def]

Could be the reason my old IBHK Account Management link now redirects to their Australian domain? I suspect much of the activity will migrate out of HK for the reasons you mentioned.

No, we redirect based on location.

 

[mfhboy]

I called IB and they keep repeating there is nothing related to your nationality/identity. It's all about your address proof(aka where u live).

I hope ppl here would come to a good solution for IB HK users.

Could be the reason my old IBHK Account Management link now redirects to their Australian domain? I suspect much of the activity will migrate out of HK for the reasons you mentioned.

 

[mfhboy]

HK gov stopped saying no to China after 2012. And this law allows China law take over the legal process once the case filed at China. This is pure fact. I seriously concern my asset at HK and IB HK.

I take a more pragmatic approach - politics aside. HK is a financial center with a rule of law. The government, like all others, can instruct banks or brokers to freeze funds. The US certainly does this as an example. If the freezing of assets was wantonly abused, it would kill HK as a financial and banking center. That is the least of my concerns and I don't foresee as a real concern.