Rules of paper trading

1. Is the Paper Trading free to use?

Yes, the Paper Trading system is completely free to use. The transaction fee of the Paper Trading does not involve real expenditures. This feature is for free, so please feel relieved to use it.

2. Trading time

2.1 Paper Trading is only applicable to intraday trading, and not to pre/post-market trading;

2.2 HK market trading hours: 9:30-12:00, 13:00-16:00;

2.3 US market trading hours: 9:30-16:00 (EST);

2.4 SG market trading hours: 9:00~12:00, 13:00~17:00;

2.5 China A-Shares market trading hours: 9:30~11:30, 13:00~15:00;

3. Matching rules for Paper Trading

3.1 Paper Trading: 

Paper trading refers to the buying and selling order, that is, when the entrusted buying price is greater than the placing selling price and the entrusted selling price is lower than the placing buying price, the transaction can be matched. You can also try to modify the order to a better price to increase the probability of transaction.

3.2 Competition: 

Competition refers to the bid and ask price of the live trading. Even if the commission price is appropriate, the transaction will not be completed without transaction volume; if the transaction volume of the live trading is less than the commission volume, the transaction will be partially completed, and only amount in the live trading will be matched.  The remaining orders are still in the matching queue waiting for transactions. Please pay attention to the changes in the live trading market and try to modify the order to a better price to increase the probability of the transaction;

4. Settlement of Paper Trading

4.1 HK market: T+0, stocks can be bought and then sold on the same day;

4.2 US market: T+0, stocks can be bought and then sold on the same day;

4.3 SG market: T+0, stocks can be bought and then sold on the same day;

4.4 China A-Shares market: T+1, stocks bought can be sold on the next day;

5. Types available for paper trading

5.1 Stocks

  1) HK market: Trading types are limited to underlying stocks, warrants, CBBCs, and other products listed on HK Stock Exchange;

  2) US market: Trading type is limited to underlying stocks listed on US exchanges;

  3) SG market: Trading type is limited to underlying stocks listed on SGX;

  4) China A-Shares market: Trading type is limited to underlying stocks listed on Shenzhen Stock Exchange and Shanghai Stock Exchange;

5.2 Options

  1) HK market: Trading type is limited to stock options listed on HK Stock Exchange;

  2) US market: Trading type is limited to stock options listed on US exchanges;

5.3 Futures

  1) HK market: Trading type is limited to futures listed on HK Stock Exchange;

  2) US market: Trading type is limited to futures listed on US Exchanges;

  3) SG market: Trading type is limited to futures listed on SGX;

  4) JP market: Trading type is limited to futures listed on JPX ;

6. Order type of paper trading

6.1 Limit orders and odd lot orders are available in the paper trading system;

6.2 Short selling is not available for stocks but for options and futures;

7. How is the transaction fee calculated for paper trading?

7.1 HK Market

  ● Stocks

  1) Commission: transaction amount * 0.03% (minimum 3 HKD per order);

  2) Platform Fee: 15 HKD per order;

  3) Trading Tariff: 0.5 HKD per order;

  4) Settlement Fee: transaction amount * 0.002% (minimum 2 HKD and maximum 100 HKD);

  5) Stamp Duty: transaction amount * 0.1% (minimum 1 HKD);

  6) Trading Fee: transaction amount * 0.005% (minimum 0.01 HKD);

  7) Transaction Levy: transaction amount * 0.0027% (minimum 0.01 HKD);

  ● Futures

  Futures are charged differently by reference to live trading rules.

7.2 US Market

  ● Stocks

  1) Commission: 0.0049 USD per share (minimum 0.99 USD per order);

  2) Platform Fee: 0.005 USD per share (minimum 1 USD per order);

  3) Settlement Fee: transaction shares * 0.003 USD;

  4) SEC Fee: transaction amount * 0.0000221 USD (minimum 0.01 USD per order);

  5) Trading Activity Fee: transaction amount * 0.000119 USD (minimum 0.01 USD and maximum 5.95 USD);

  ● Options

  1) Commission: 0.65 USD per contract (minimum 1.99 USD per order);

  2) Platform Fee: 0.3 USD per order;

  ● Futures

  Futures are charged differently by reference to live trading rules.

7.3 SG Market

  ● Stocks

  1) Commission: 0.03% * transaction amount (minimum 0.99 SGD per order);

  2) Platform Fee: 0.03% * transaction amount (minimum 1.50 SGD per order);

  3) Transaction Fee: 0.0075% * transaction amount;

  4) Settlement Fee: 0.0325% * transaction amount;

  ● Options

  1) Commission: 0.65 USD per contract (minimum 1.99 USD per order);

  2) Platform Fee: 0.3 USD per order;

  ● Futures

  Futures are charged differently by reference to live trading rules.

7.4 JP Market

  ● Futures

  Futures are charged differently by reference to live trading rules.

7.5 China A-Shares Market

  1) Commission: transaction amount * 0.03% (minimum 3 CNY per order);

  2) Platform Fee: 15 CNY per order;

  3) Handling Fee: transaction amount * 0.00487% (minimum 0.01 CNY);

  4) Securities Management Fee: transaction amount * 0.002% (minimum 0.01 CNY);

  5) Transfer Fee (CSDC): transaction amount * 0.002% (minimum 0.01 CNY);

  6) Transfer Fee (HKSCC): transaction amount * 0.002% (minimum 0.01 CNY);

  7) Stamp Duty: transaction amount (sold) * 0.1%;

  8) Portfolio Fee: number of held shares * 0.008%/365;

8. Rules for paper trading card

8.1 Reset Card

  1) Attributes: Effective one time immediately;

  2) Effect: Restore initial virtual funds and clear historical transactions in your paper trading account;

8.2 Defense Card

  1) Attributes: It is a 24hs card and can be stacked;

  2) Effect: Prevent others from viewing positions and transactions of the account within 24 hours;

8.3 Insight Card

  1) Attributes: It is a 24hs card and cannot be stacked;

  2) Effect: View the positions and transactions of the undefended account within 24 hours;

8.4 How to get cards

  1) Go to "My" - "Rewards Club" - "Paper Trading" to redeem;

  2) You can also get cards by participating in paper trading;

8.5 How to use

  1) On the homepage of paper trading, tap the profile photo to enter the "My" page, tap "My Card", select the reset card or the defense card and select an account to use it;

  2) On the paper trading page, tap "Use Card" on the right side of "Net Assets" and select the reset card or defense card in the pop-up window to use it;

  3) In the weekly top traders, tap a profile photo to enter his or her homepage and tap ‘View Account’ on the positions or transactions to use the insight card;