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.
2.1 Paper Trading is only applicable to intraday trading, and not to pre/post-market trading;
2.2 Hong Kong stock market: 9:30 AM-12: 00 PM, 1:00 PM-4:00 PM (Hong Kong Time);
2.3 US stock market: 9:30 AM-4:00 PM (Eastern Standard Time)
Daylight Saving Time: 21:30-4:00 (Hong Kong Time)
Standard Time: 22:30-5:00 (Hong Kong Time);
2.4 China A-share market: 9:30 AM-11: 30 AM, 1:00 PM-3:00 PM (Hong Kong Time).
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.
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;
4.1 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 China A-Shares market: T+1, stocks bought can be sold on the next day;
5.1.1 HK market: Trading types are limited to underlying stocks, warrants, CBBCs, and other products listed on HK Stock Exchange;
5.1.2 US market: Trading type is limited to underlying stocks listed on US exchanges;
5.1.3 China A-Shares market: Trading type is limited to underlying stocks listed on Shenzhen Stock Exchange and Shanghai Stock Exchange;
5.2.1 HK market: Trading type is limited to stock options listed on HK Stock Exchange;
5.2.2 US market: Trading type is limited to stock options listed on US exchanges;
5.3.1 HK market: Trading type is limited to futures listed on HK Stock Exchange;
5.3.2 US market: Trading type is limited to futures listed on US Exchanges;
5.3.3 SG market: Trading type is limited to futures listed on SGX;
5.3.4 JP market: Trading type is limited to futures listed on JPX ;
Order type of paper trading
1) Limit orders,Market Order and odd lot orders are available in the paper trading system;
Order type of Underlying Stock buying and selling ：Limit orders、Market Order
HK stock paper trading sell order type ：Limit orders、Market Order、Odd Lot
Order type of Option buying and selling：Limit orders、Market Order
Order type of Futures buying and selling：Limit orders、Market Order
2) Short selling is not available for stocks but for options and futures;
3) Orders are only valid on the current day
7.1.1 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);
7.1.2 Options
1) Commission: transaction amount * 0.2% (minimum 3 HKD per order);
2) Platform Fee: 15 HKD per order;
3) Trading tariff: 3 HKD per contract per side.
7.1.3 Futures
Futures are charged differently by reference to live trading rules.
7.2.1 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 * 0.000008 USD (minimum 0.01 USD per order);
5) Trading Activity Fee: $0.000166/Share, min $0.01/trade, max $8.30/trade (sells only);
7.2.2 Options
1) Commission: 0.65 USD per contract, minimum 1.99 USD per order;
2) Platform fee: 0.3 USD per contract;
3) SEC regulatory fee: 0.0000229 * transaction amount, minimum 0.01 USD per order (sells only);
4) Trading activity fee: $0.00279 per contract, minimum $0.01/trade (sells only);
5) Options regulatory fee: 0.02915 USD per contract;
7.2.3 Futures
Futures are charged differently by reference to live trading rules.
7.3.1 Options
1) Commission: 0.65 USD per contract (minimum 1.99 USD per order);
2) Platform Fee: 0.3 USD per order;
7.3.3 Futures
Futures are charged differently by reference to live trading rules.
7.4.1 Futures
Futures are charged differently by reference to live trading rules.
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 per order);
4) Securities Management Fee: transaction amount * 0.002% (minimum 0.01 CHY per order);
5) Transfer Fee (CSDC): transaction amount * 0.002% (minimum 0.01 CNY per order);
6) Transfer Fee (HKSCC): transaction amount * 0.002% (minimum 0.01 CNY per order);
7) Stamp Duty: transaction amount (sold) * 0.1%;
8) Portfolio Fee: number of held shares * 0.008%/365;
1) Attributes: Effective one time immediately;
2) Effect: Restore initial virtual funds and clear historical transactions in your paper trading account;
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;
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;
1) Go to "My" - "Rewards Club" - "Paper Trading" to redeem;
2) You can also get cards by participating in paper trading;
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;