What is CONRAD？
CONRAD, a securities services provider, offers a range of comprehensive and reliable services to investors. As a testament to its commitment to safety and regulatory compliance, CONRAD has successfully passed the SEHK test and is regulated by SFC.
CONRAD specializes in five main business scopes, offering investors a wide array of services to meet their investment needs. Its offerings include two types of live trading accounts: Custodian Account (P A/C) and Margin Account (M A/C). Additionally, CONRAD provides access to the Conrad Trader trading platform, empowering investors with advanced tools and functionalities for seamless trading experiences.
We extend an invitation for you to explore our upcoming article, where we will conduct a comprehensive evaluation of the broker from multiple perspectives. We will present you with concise and well-structured information, covering various aspects of the broker's operations. Ultimately, we will conclude the article with a concise summary, offering you a comprehensive overview of the broker's key features and attributes.
Pros & Cons
Pros of CONRAD:
- Regulated by SFC: Being regulated by the Securities and Futures Commission (SFC) provides assurance of compliance with industry standards and regulations, enhancing the credibility of CONRAD.
- A range of securities services: CONRAD offers a diverse range of securities services, providing clients with opportunities to explore various investment options suited to their goals and preferences.
- FAQ section available: The presence of an FAQ section indicates that CONRAD acknowledges the importance of addressing common queries and providing users with readily accessible information, which can be helpful for clients seeking quick answers or clarification.
Cons of CONRAD:
- No demo accounts: The absence of demo accounts can be considered a drawback, as these accounts allow users to practice trading strategies and become familiar with the platform without risking real funds. Without this feature, clients may have a limited opportunity to test and gain confidence in their trading abilities.
- Complex fee items: CONRAD's fee structure contains complex elements, which can be confusing for some users. Understanding the specific fees associated with various services and trades is essential to avoid unexpected costs and manage investments effectively.
- No social media presence: With no presence on social media platforms, CONRAD lacks an avenue for engaging with clients, sharing updates, or addressing concerns in a timely manner. This could potentially limit communication channels and opportunities for clients to interact with the broker.
Is CONRAD Safe or Scam？
CONRAD operates under the supervision of the Securities and Futures Commission (SFC), an independent statutory organization established in 1989 to oversee Hong Kong's securities and futures markets. Being subject to regulation by reputable authorities and having a track record spanning several years, CONRAD has garnered positive feedback from numerous clients.
Based on available information, CONRAD seems to possess the qualities of a dependable and reputable broker. Nonetheless, it is crucial for traders to understand that investing always involves a certain degree of risk. It is advisable for individuals to conduct their own research and thoroughly evaluate their options before making any investment decisions.
Business Scopes
CONRAD offers a range of securities services to investors. Here are the 5 main business scopes of CONRAD:
CONRAD facilitates and provides subscription services for initial public offerings (IPOs). This allows investors to participate in the purchase of newly issued stocks during their initial listing on the stock exchange.
CONRAD provides access to the stock margin rate table for the Hong Kong Exchanges and Clearing Limited (HKEX). This table shows the margin rates applicable to various stocks listed on the HKEX, which allows investors to trade on margin.
CONRAD also provides access to the stock margin rate table for US stocks. This table displays the margin rates applicable to stocks listed on US stock exchanges, enabling investors to trade on margin in the US market.
CONRAD offers reference exchange rates for both HKEX and US stocks. These rates help investors determine the exchange rate between different currencies when trading stocks listed on the HKEX or US stock exchanges.
CONRAD facilitates trading in callable bull/bear contracts and warrants. These derivative instruments allow investors to speculate on the price movement of underlying assets, such as stocks or indices, and potentially gain higher returns through leverage.
Accounts
CONRAD offers two types of live trading accounts: Custodian Account (P A/C) and Margin Account (M A/C).
This account allows customers to trade Hong Kong securities listed on the HKEx. When customers execute BUY or SELL transactions, the amount, including commissions and other related expenses, will be deducted from or added into their custodian accounts.
Customers can place orders through CONRAD's internet trading platform. However, orders can only be placed when there is sufficient cash balance (for buying) or sufficient shares of stock (for selling) in the account.
This account offers trading of Hong Kong securities through margin financing. The account allows customers to trade stocks with only a partial payment on the settlement date, based on the individual stock's marginal value (refer to Margin list).
Customers can also place orders through the internet trading platform, but the same conditions apply regarding sufficient cash balance or sufficient shares of stock. When applying for a margin account via postal application, a personal cheque with an amount not less than HK$10,000 is required.
Both account types have a minimum deposit requirement of $10,000.
Trading Platforms
CONRAD offers Conrad Trader trading platform, which provides users with convenient and comprehensive data and information services for stock trading. It allows investors to easily check stock market information and execute trades no matter where they are, enabling them to stay up-to-date with Hong Kong's securities market.
Conrad Trader is available in multiple versions, including the iOS mobile version, Android mobile version, and network disk download. This ensures that investors can access the trading platform using their preferred devices, whether it's an iPhone, Android smartphone, or through their computers.
Conrad Trader's design is tailored to the usage habits of investors in Hong Kong and China. It employs a classic quotation style that resonates with investors from these regions. The platform provides real-time stock quotes, charts, and other tools to assist investors in making informed trading decisions.
Fees
CONRAD charges different fees according to different items, including HonKong Stock fees, U.S. Stock Fees, IPO subscription, finance rate, US SEC fee and son on.
For example, starting from May 16, 2022, the U.S. Securities and Exchange Commission (SEC) has adjusted the fee rate known as the SEC Fee. The new rate is now USD 22.90 per USD 1,000,000 of the aggregated dollar amount of sales of securities. This means that the principal USD amount will be multiplied by 0.0000229 to calculate the SEC Fee.
Previously, the fee rate was USD 5.10 per USD 1,000,000 of the aggregated dollar amount of sales of securities. This was calculated by multiplying the principal USD amount by 0.0000051.
For more detailed information, it is recommended to review the official guidelines provided by the U.S. Securities and Exchange Commission (SEC).
Deposits & Withdrawals
The Conrad company provides various methods for both depositing and withdrawing funds. These include Telegraphic Transfer (TT), Fund Deposit via ATM/Cheque/Online Banking/FPS, and Securities, Margin, Bond, and Fund Accounts.
To initiate a withdrawal, you need to submit a withdrawal instruction through the electronic trading system. Alternatively, you can fill in and sign a Withdrawal Form and fax it to +852 2323-1661 or send it by email to cs@conrad-is.com.hk. The cut-off time for payment instruction is 12:00 noon, and any instructions received after that time will be processed on the next working day.
Trading Hours
Customer Service
Customers can get in touch with CONRAD Monday - Friday 9 am - 6 pm via:
Telephone: (852) 3980 2388
Email: cs@conrad-is.com.hk
Address: 23/F, Tung Hip Commerical Building, No.244 Des Voeux Road Central, HK
Whats more, CONRAD provides a Frequently Asked Questions (FAQ) on their website to assist their clients with commonly asked questions and provide relevant information. By offering this resource, CONRAD aims to provide transparency and clarity to their clients, helping them make informed decision.
Conclusion
In conclusion, CONRAD is a reputable securities services provider. Regulated by the SFC, an independent statutory body, CONRAD operates within the framework set by the SFC to ensure the integrity and stability of Hong Kong's securities and futures markets.
With a solid and reliable infrastructure, CONRAD offers a range of comprehensive securities services to investors. Its commitment to technology escort and insurance coverage further reinforces its dedication to maintaining a secure trading environment and protecting client funds.
Whether through its Custodian Account (P A/C) or Margin Account (M A/C), CONRAD provides investors with options to suit their trading preferences. Additionally, the Conrad Trader trading platform, offered by CONRAD, empowers investors with advanced tools and functionalities to facilitate efficient and seamless trading experiences.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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