Stock Paper Trading Rules

1. Paper trading is available for four markets: the Hong Kong stock market, the US stock market, the China A-shares market, and the Japan stock market. To open a virtual account, simply tap the "Get Now" button for the market you want to trade in. Each virtual account starts with an initial balance of HK$1 million, US$1 million, CN￥1 million, or JP￥20 million.

2. The product types you can trade in paper trading 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 both the US stock market，the China A-shares market and the Japan stock market.

3. Trading hours: Hong Kong stock market: 9:30 AM-12: 00 PM, 1:00 PM-4:00 PM (Hong Kong Time); US stock market: 9:30 AM-4:00 PM (Eastern Standard Time); China A-share market: 9:30 AM-11: 30 AM, 1:00 PM-3:00 PM (Hong Kong Time); Singapore stock market: 9:00 AM-12:00 PM,1:00 PM-5:00 PM (Hong Kong Time); Japan stock market: 9:00 AM–11: 30 PM, 12:30 PM–3:00 PM (Japan Standard Time).

4. Paper trading supports dividends and bonus shares, but does not support 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 is not necessarily consistent with the real stock market. In case of any inconsistency, data in the paper trading system shall prevail.

7. If you hold stocks of a listed company which is delisted for any reason, you may no longer trade such stocks in later trading days, and the system will return the virtual funds to your virtual account at the last closing price.

8. Fees in the paper trading system are charged by reference to the real market. If there is a slight inconsistency, fees in the paper trading system shall prevail.

●  Hong Kong stock 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 stock market:

Commission: 0.0049 USD/share, minimum 0.99 USD/order;

Platform Fee: 0.005 USD/share, minimum 1 USD/order;

Settlement Fee: transaction shares * 0.003 USD;

Regulatory Fee: transaction amount *0.000008 USD, minimum 0.01 USD/order;

Trading Activity Fee: $0.000166/Share, min $0.01/trade, max $8.30/trade (sells only);

● China A-shares market:

Commission: transaction amount * 0.03%, minimum 3 CNY/order;

Platform Fee: 15 CNY/order;

Handling Fee: transaction amount * 0.00487%, minimum 0.01 CNY/order;

Securities Management Fee: transaction amount * 0.002%, minimum 0.01 CHY/order;

Transfer Fee (CSDC): transaction amount * 0.002%, minimum 0.01 CNY/order;

Transfer fee (HKSCC): transaction amount * 0.002%, minimum 0.01 CNY/order;

Stamp Duty (sells only): transaction amount * 0.1%;

Portfolio Fee: number of shares held * 0.008%/365.

● Japan stock market:

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. 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.