1. Paper trading supports three markets: the Hong Kong stock market, the US stock market and the Australia stock market. By tapping the "Get Now" button, you can open a virtual account for each market and will have initial assets of 1 million HKD, 1 million USD and 1 million AUD in each account, respectively.
2. The product types you can paper trade are limited to stocks, warrants, CBBCs, and other products listed on the Hong Kong Stock Exchange for the Hong Kong stock market, and to stocks for the US stock market，and the Australia stock market.
3. Trading hours: Hong Kong stock market: 9:30 AM-12:00 PM, 1:00 PM-4:00 PM (China Standard Time); US stock market: 9:30 AM-4:00 PM (Eastern Time); Australia stock market: 10:00 AM-4:00 PM (Sydney Time).
4. Paper trading supports dividends and bonus shares, but is not available for IPO shares subscription, rights issue, or placement.
5. Paper trading adopts the rules of order matching. The highest bid (best bid) and the lowest ask (best ask) are the best prices for matching. A buy order at a price higher than the best bid or a sell order at a price lower than the best ask satisfies the matching conditions and will be automatically queued for execution.
6. The paper trading system may not necessarily be consistent with the real stock market. In case of any inconsistency, data in the paper trading system shall prevail.
7. If you hold the stock of a listed company that is delisted for any reason, you may no longer trade such stock in later trading days, and the system will return the virtual funds to your virtual account at the last closing price.
8. The fees charged for paper trading may differ from those of actual trading. For actual investments, please refer to the fee standards in the official trading environment.
● Hong Kong market:
Commission: transaction amount * 0.03%, minimum 3 HKD/order;
Platform Fee: 15 HKD/order;
Trading Tariff: 0.5 HKD/order;
Settlement Fee: transaction amount * 0.002%, minimum 2 HKD, and maximum 100 HKD;
Stamp Duty: transaction amount * 0.1%, minimum 1 HKD;
Trading Fee: transaction amount * 0.005%, minimum 0.01 HKD;
Transaction Levy: transaction amount * 0.0027%, minimum 0.01 HKD;
● US market:
Commission: 0 USD/order;
Platform Fee: 0.99 USD/order;
Settlement Fee: transaction shares * 0.003 USD, max 1% * transaction amount;
Regulatory Fee: transaction amount * 0.000008 USD, minimum 0.01 USD/order;
Trading Activity Fee: transaction shares * 0.000166 USD, minimum 0.01 USD and maximum 8.3 USD (sells only);
● Australia market:
Commission: transaction amount * 0.01%, minimum 1 AUD/order
Platform Fee: transaction amount * 0.02%, minimum 2 AUD/order;
9. If you bought a CBBC and it is called because its call price is reached, then its residual value will be set to zero. The same is applicable if a warrant expires.
10. The margin requirements for short positions in US stocks during paper trading are set at an initial margin rate of 100% and a maintenance margin rate of 60%. These margin requirements may differ from those applicable to actual trading. Please refer to the fee schedule for the specific margin amounts required in actual trading.
11. All transactions conducted through virtual accounts opened through the paper trading system are virtual in nature, and all instructions entered will not be transmitted to the New York Stock Exchange, Nasdaq Stock Exchange, American Stock Exchange or any other applicable exchanges. Such instructions will not be executed in the real market, and will not constitute any settlement obligations, payment obligations, or any other obligations or liabilities by you or the Company.
12. Transaction fees deducted in the paper trading system are not real expenses. The paper trading system is free of charge, so please feel free to use it.