FAQ

About Account Opening & Trading
1. Does securities/ futures trading account opening complicate?

It is easy to open securities/ futures trading account and will take around 5-10 mins. for more details, please click Securities Account Opening Procedures  Futures Account Opening Procedures

2. How can I get my Login Password?

The Login Password will be sent to you by mail after you have successfully opened an account with us. You are recommended to change your Login Password once you received it. If you do not receive our notification letter, please contact our Customer Service Hotline at (852) 2218-2818.

3. What should I do if I forgot the Login Password?

If you have forgotten your Login Password, you can download a Password Reset Request form from our website or please call our Customer Service Hotline at (852) 2218-2818 for a new one against written request.

4. How can I change my Login Password?

You can change your login password anytime through Internet. Your new password should be 8-16 alphabets and numbers, case sensitive and exclude symbols and spaces, and must be different from your old Login Password.


To change your Login Password via Internet, please click Personal Profile

5. What should I do if my account is blocked?

If your account is being attempted to login with a wrong password by 3 times through any of our online channels, it will be locked automatically. You can contact our Customer Service Hotline at (852) 2218-2818 to unlock your account.

6. How do I place order through Internet?

After login, click "Trading", and follow the instructions to proceed trading. You will receive an order reference number after your order is successfully placed. Please keep connected to the Internet until you have received the order reference number.

7. How can I amend/cancel my order?

You can amend your order through the Internet.


Login to the system, click "Amend Order" or "Cancel Order", make the amendment or cancellation and then enter your Trading Password.


Please note that you can only amend or cancel your unexecuted orders or the partially executed orders. The quantity of the amended orders must be less than the original quantity and more than the executed quantity of the order.

8. What are the trading hours ?
Trading hours of the Stock Exchange of Hong Kong (for trading Hong Kong listed stocks)
  Mondays to Fridays (excluding public holidays) with following sessions:
Pre-opening session 9:00 a.m. to 9:30 a.m.
Morning session 9:30 a.m. to 12:00 noon
Afternoon session 1:00 p.m. to 4:10 p.m.

There is no Afternoon session on the eves of Christmas, New Year and Lunar New Year.

Trading hours of the Hong Kong Futures Exchange (for trading Index futures)
  Mondays to Fridays (excluding public holidays) with following sessions:
Pre-opening session 8:45 a.m. to 9:15 a.m. & 12:30 p.m. - 1:00 p.m.
Morning session 9:15 a.m. to 12:00 noon
Afternoon session 1:00 p.m. to 4:30 p.m. (Last trading day: 1:00 p.m. to 4:00 p.m.)

There is no Afternoon session on the eves of Christmas, New Year and Lunar New Year.

9. What kind of order types can I place?

Under the current AMS3 system, there are 4 types of order type that you can choose:

Remark:  Please note that all unfilled orders will be cancelled at 4:30 p.m. on any trading day.

Limit Order 
  • A limit order will allow matching only at the specified price.  The sell order input price cannot be made at a price below the best bid price, if available whereas the buy order input price cannot be made at a price above the best ask price, if available.
  • Any unfilled limit order will be put in the price queue of the input price.
  • Orders inputted as limit order between 4:31 p.m. on any trading day  and 9:15 a.m. on the next trading day will be placed as at-auction limit order (for details about at-auction limit order, please refer to the website of HKEx). Any unfilled at-auction limit orders at the end of the Pre-opening Session will be carried forward to the Continuous Trading Session and treated as limit orders.  
Enhanced Limit Order 
  • An enhanced limit order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price.  The sell order input price cannot be made at a price of 10 spreads (or more) below the current bid price whereas the buy order input price cannot be made at a price of 10 spreads (or more) above the current ask price.  
  • Any unfilled enhanced limit order will be treated as a limit order and put in the price queue of the input price. 
  • Orders inputted as enhanced limit order between 4:31 p.m. on any trading day and 9:15 a.m. on the next trading day will be placed as at-auction limit order (for details about at-auction limit order, please refer to the website of HKEx). Any unfilled at-auction limit orders at the end of the Pre-opening Session will be carried forward to the Continuous Trading Session and treated as limit orders.
Special Limit Order 
  • A special limit order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price.  A special limit order has no restriction on the input price as long as the order input price is at or below the best bid price for a sell order or at or above the best ask price for a buy order. 
  • Any unfilled special limit order will be cancelled. 

For details, please refer to HKEx News Release

10. Can I amend an order during lunch break of trading hours??

If your order is already queuing in the AMS/3 system (order status is "Queued"), the amendment instruction you make during 12:00 noon - 1:00p.m. on a trading day will be handled after the afternoon session begins. For the cancellation instruction you made during that period, it will be handled at 12:30p.m. If your order has not yet been queued in the AMS/3 system (order status is "Unprocessed"), the amendment or cancellation instruction will be handled immediately.

11. How long will my orders stay valid if I place the order through Internet?
  • If your order is received during trading hours, the order will be valid until the market closes at 4:30pm Hong Kong time later on that day.
  • If your order is received after trading hours (i.e. after 4:30pm Hong Kong time), the order will be valid until the market closes on the next trading day.
12. Why is it that even when I cancel an order through Internet, it gets executed anyway?

One of the reason is that with the launch of AMS3, your order flows directly to the Stock Exchange, reducing execution time. At times, the speed of execution can be so high that a transaction may have already been executed before a cancellation command can take effect.


However, in general, any cancellation will be executed at the discretion of Mason Securities.

13. Under what circumstances will my order placed be rejected?

Your order may be rejected under the following circumstances:


  • You do not have sufficient funds in your account to cover the consideration (plus charges) of your buy order
  • You do not have sufficient stocks on hand for your sell order
  • Your order is beyond 20 spreads above or below the nominal price. In the case of an order placed after trading hours, the spreads will have to be measured against the previous closing price


In general, any order will be executed at the discretion of Mason Securities.

14. What are the meanings of different Trade Statuses shown on the Order Status page?

Different Trade Statuses represent different order status of your order(s):


Status Meaning
Executed The order has been fully executed in the market. There is no outstanding quantity.
Partially Executed The order is partially executed in the market. There is outstanding quantity.
Unprocessed The order is pending for being handled by the dealer. It has not been sent to the market yet. OR
The order has been created in the trading system but is not yet released to the market by the Account Executive.
Cancelled/Rejected The order is either rejected by HKEx or our trading channel, or has been cancelled according to client instruction.
Queued The order has been queued in the market.
Pending The order is pending for approval from the Credit Officer before being sent to the market.
Changing The order amendment request is being handled according to the request of the client.
Cancelling The order cancellation request is being handled according to the request of the client.
15. What should I do if I suspect there are unauthorised activities or transactions in my account?

You can change your Login Password immediately and contact our Customer Service Hotline at (852) 2218-2818.

16. What is short selling? Can I short-sell with Mason Securities?

Selling shares that you do not own is short selling. Mason Securities does not allow short-selling.

17. What is a Spread?

Stock price is fluctuated in ticks of spread. For example, stock XX has spread of HK$0.01, then the stock price will be increased or decreased in increment of HK$0.01.


For all securities which the exchange has authorised to trade in accordance with the scale of spreads as follows:


Price From (HK$) Spread (HK$)
0.01 0.001
0.25 0.005
0.50 0.010
10.00 0.020
20.00 0.050
100.00 0.100
200.00 0.200
500.00 0.500
1,000.00 1.000
2,000.00 2.000
5,000.00 to 9,995.00 5.000
18. What is a Board Lot?

In Hong Kong, shares are normally traded in multiples of Board Lot. For each stock, the Board Lot is determined prior to listing and the Board Lot size may range from 100 shares to 2000 shares. Share price quotations are normally for Board Lot trading.


Shares can also be traded in non-Board Lot sizes and they are referred to as Odd Lot.

19. What is an Odd Lot?

Share trading size that does not corresponds to a Board Lot size is referred to as Odd Lot. For example, Board Lot size of share XX is 500 shares, 2,300 shares will be traded as 4 Board Lots (4*500 shares) plus Odd Lot of 300 shares.


Odd Lot tradings are normally executed at a few spreads inferior to a normal bid/ask quote.

20. What will be charged for trading?

The charges include:


Gross Consideration Share price x number of shares
Brokerage Commission Custodian Account (Can enable internet trading function)
- as low as 0.25% of the transaction amount (min. HK$100)
  Pure Online Account
- as low as 0.15% of the transaction amount (min. HK$50) 1,2
Transaction Levy 0.0027% of the transaction amount, levied by the SFC
Investor Compensation Levy Suspended
Trading Fee 0.005% of the transaction amount, levied by the HKEx
CCASS Stock Settlement Fee 0.002% of the transaction amount (min. HK$3, max. HK$100)
Trading Tariff Free of charge
Stamp Duty 0.1% of the transaction amount (rounded up to the nearest dollar), levied by the HKSAR government.

Note:

1. Reduction in brokerage commission rate is subject to the final discretion of Mason Securities Limited and Mason Futures Limited may at its absolute discretion offer or cease to offer or vary the terms of such reduction.

2. Buying/Selling a particular stock a few times on the same day through the same channel will be considered as 1 single transaction.

21. What is the details of login for Two-factor Authentication (2FA)?

Futures accounts: For the details, please refer to Appendix.

 

Securities accounts: For details of registration of Mason 2FA mobile app and login process, please refer to Guideline for Two-Factor Authentication.