Overview of Upbest
Upbest Commodities Company Limited is a financial institution headquartered in Hong Kong. With a presence of 10-15 years in the industry, they are regulated by the Securities and Futures Commission of Hong Kong, ensuring compliance with established financial regulations. Upbest offers a range of financial services to its clients, including stock broking, margin financing, corporate finance advisory, futures broking, and asset management.
Their services cater to various market instruments, such as precious metals, stocks, property, forex, and commodities. Clients can access their services through trading platforms, including the Securities Internet Trading System and the Commodities Online Trading System. Upbest places importance on customer support and offers assistance through email and phone channels.
Regulation
Upbest Commodities Company Limited is regulated by the Securities and Futures Commission of Hong Kong. They hold a license (AEY503) for dealing in futures contracts, which was granted to them on October 12, 2010. As an offshore regulatory license issued by the regulatory agency of Hong Kong, this suggests innate risk when using Upbest, as offshore regulators operate within ambiguous frameworks.
Offshore regulatory status offers certain benefits but also entails disadvantages and risks for customers. One disadvantage is the possibility of a less stringent regulatory environment compared to domestic regulations, which can result in reduced customer protection. Customers of offshore-regulated companies may face challenges in seeking legal recourse or resolving disputes due to jurisdictional complexities. Additionally, offshore regulations might not provide the same level of investor safeguards as domestic frameworks, increasing the potential vulnerabilities for customers.
Pros and Cons
Upbest Commodities Company Limited offers a range of financial services, including stock broking, margin financing, corporate finance advisory, futures broking, and asset management. They provide clients with access to various market instruments, such as precious metals, stocks, property, forex, and commodities. Additionally, the availability of customer support through email and phone channels indicates a commitment to assisting clients and addressing their inquiries or concerns.
One potential disadvantage of Upbest Commodities Company Limited is that it holds an offshore regulatory license. This can imply a less stringent regulatory environment compared to domestic regulations, which may result in reduced customer protection. Offshore regulatory frameworks may have varying levels of oversight and enforcement, potentially exposing customers to risks such as limited legal recourse and a lower level of investor safeguards. The less rigorous reporting and disclosure requirements in offshore regulatory frameworks can also limit transparency, raising concerns regarding the company's operations and financial dealings.
Market Instruments
Upbest Commodities Company Limited offers a diverse range of market instruments for trading. Here is a description of each market instrument provided by the company:
Precious Metals: Upbest allows clients to trade precious metals, which typically include gold, silver, platinum, and palladium. These instruments provide opportunities for investors to speculate on the price movements of these metals.
Stocks: Upbest enables clients to trade stocks listed on the Stock Exchange. Stocks represent ownership in publicly traded companies and offer potential returns through capital appreciation and dividends.
Property: Upbest provides access to the property market, allowing clients to potentially benefit from price movements in real estate assets. Trading property instruments may involve derivatives or other financial products linked to the property market.
Forex: Upbest facilitates forex trading, which involves the buying and selling of currencies. Forex trading allows investors to speculate on currency exchange rate fluctuations, seeking to profit from the movements between different currency pairs.
Commodities: Upbest offers trading in various commodities, which can include agricultural products (such as wheat, corn, or soybeans), energy resources (such as crude oil or natural gas), and industrial metals (such as copper or aluminum). Commodities trading provides exposure to global commodity markets and potential profit opportunities based on supply and demand dynamics.
The following is a table that displays that available market instruments of Upbest in comparison to competitors:
Account Types
Upbest Commodities Company Limited offers two types of accounts: Individual/Joint Account and Corporate Account.
Individual/Joint Account: The Individual/Joint Account is designed for individual investors or joint account holders. With this account, individuals can engage in various financial activities, including stock trading, margin financing, and futures broking. The account requires the submission of essential identification documents, such as a Hong Kong Identity card or passport, and proof of address dated within the latest three months. This type of account is suitable for individuals who wish to manage their personal investments and access a wide range of financial services provided by Upbest.
Corporate Account: The Corporate Account is tailored for corporate entities seeking to engage in financial activities and access services. To open a Corporate Account, companies need to provide several documents, including the Memorandum & Articles of Association, board resolutions, Certificate of Incorporation, Business Registration Certificate, audited financial reports, and identity documents of directors and authorized persons. This account type allows corporations to leverage Upbest's financial expertise, benefit from corporate finance advisory services, and access services such as stock broking, futures broking, and asset management. It is suitable for companies looking to manage their financial operations and make investments through a regulated institution.
How to make an account？
To open different types of accounts with Upbest Commodities Company Limited, specific documents are required. Here is a list of the documents needed for each type of account:
Individual/Joint Account:
Hong Kong Identity card or passport of the account holder(s)
Address proof dated within the latest three months (e.g., utility bills, government documents, or bank statements)
Corporate Account:
Certified true copy of Memorandum & Articles of Association
Board resolution(s) to open an account with Upbest and appoint authorized person(s) to operate the account
Certified true copy of Certificate of Incorporation
Certified true copy of valid Business Registration Certificate
Certified true copy of the latest audited financial report
Certified true copies of Hong Kong Identity Card or passport of directors and authorized persons
Certified true copy of Company Address
Certified true copy of Register of Directors(s)
Certified true copy of Register of Shareholder(s)
Fees
Upbest Commodities Company Limited imposes various fees for its services and transactions. Here is a description of the fees based on the information provided:
Brokerage Fees: Upbest charges brokerage fees for both internet and phone trades. For internet trade, the brokerage fee is 0.175% or a minimum of ＄50.00. For phone trades, the brokerage fee is 0.25% or a minimum of ＄100.00.
Stamp Duty: Upbest applies a stamp duty fee of ＄1 for every ＄1,000 of the transaction value. This fee is imposed as per the regulations of the relevant jurisdiction.
Trading Fee: A trading fee of 0.00565% is applicable to transactions. This fee was implemented from January 1, 2023.
Transaction Levy: Upbest imposes a transaction levy of 0.0027% on transactions.
FRC Transaction Levy: A FRC (Fixed Rate Contributor) transaction levy of 0.00015% is applied to transactions.
Transfer Deed: Upbest charges ＄5.00 per lot for the transfer of deeds.
Handling Fee: A handling fee of 0.02% is applied, with a minimum of ＄2.00 and a maximum of ＄200.00.
Withdrawal Fees: Withdrawals incur a fee of ＄5.00 per lot.
Odd Lot Withdrawal: For odd lots (less than 10 certificates), a fee of ＄30.00 per 10 certificates is charged. For over 10 certificates, the fee is ＄8.00 per certificate.
Transfer Fee: A transfer fee of ＄5.00 per lot is applied.
Cash Offer: Upbest imposes a cash offer fee of ＄0.80 per lot.
Subscription Fees: Subscription activities incur a handling fee of ＄1.00 per lot, with a minimum of ＄30.00.
S.I./I.S.I Charges: For each stock transaction, a fee of ＄20.00 is imposed.
Dividend Charges: Dividend-related charges include a script fee of ＄1.50 per lot and a collection charge of 0.12% imposed by HKSCC (Hong Kong Securities Clearing Company). Additionally, a handling fee of 0.50% is applied, with a minimum of ＄30.00.
Dividend Claim Charges: For dividend claims, a maximum fee of ＄500.00 and a minimum fee of ＄200.00 are applicable, along with a handling fee of 0.50% with a minimum of ＄50.00.
Stop Payment: In case of stop payment requests, Upbest applies a bank charge of ＄100.00 per cheque and a handling fee of ＄50.00 per cheque.
Financial Services
Upbest Commodities Company Limited offers a comprehensive range of financial services to its clients. Here is a summarized description of each service:
Stock Broking: Upbest facilitates stock trading for clients, allowing them to buy and sell securities listed on the Stock Exchange. Clients can place orders online or via telephone, providing access to various investment opportunities in the stock market.Margin Financing: Upbest extends credit facilities to clients who wish to purchase securities on a margin basis. This service allows clients to leverage their investments, potentially increasing their purchasing power and enabling them to engage in larger trades.
Corporate Finance Advisory: Upbest provides financial advisory services, including work related to corporate finance. This can involve offering guidance on financial matters, assisting with placements of securities, and participating in underwriting and sub-underwriting activities for Hong Kong-listed securities.
Futures Broking: Upbest conducts futures broking business, allowing clients to trade futures contracts. These contracts provide opportunities for speculation on the future price movements of various underlying assets, including commodities, currencies, and indices.
Asset Management: Upbest offers asset management services to the public through Upbest Assets. They are registered as an investment adviser with the SFC and provide investment and asset management services for discretionary and non-discretionary funds, catering to different client preferences.
Deposit & Withdrawal
Upbest Commodities Company Limited offers multiple deposit and withdrawal methods for its clients. Here is a summarization of each method based on the information provided:
Bank Transfer: Clients can deposit or withdraw funds through bank transfers using various banks, including OCBC Wing Hang Bank Ltd., Hang Seng Bank, China Construction Bank (Asia), Chiyu Banking Corporation, and Bank of China. Bank transfers provide a secure and convenient way to move funds to and from Upbest accounts.
Cash Account: For cash accounts, clients can deposit or withdraw funds by visiting Upbest's office in person. This method allows for face-to-face interactions and provides a direct channel for managing cash transactions.
Trading Platforms
Upbest Commodities Company Limited provides clients with access to two trading platforms for executing their trades. Here is a summarization of each platform based on the information provided:
Securities Internet Trading System: Upbest offers a Securities Internet Trading System, which allows clients to place orders online for securities listed on the Stock Exchange. This platform provides an interface and enables convenient trading of stocks in real time.
Commodities Online Trading System: Upbest facilitates futures broking through its Commodities Online Trading System. This platform is designed specifically for trading commodities and allows clients to speculate on the price movements of various commodities, including precious metals, energy resources, and agricultural products.
The following is a table that compares Upbest's Trading Platforms to that of competiting companies:
Customer Support
Upbest Commodities Company Limited provides customers with various options to access customer support and seek assistance. Here is a summarization of each customer support option based on the information provided:
Email Support: Customers can reach Upbest's customer support team by sending an email to info@upbest.com. This allows for written communication and gives customers the opportunity to express their inquiries or concerns in detail.
Phone Support: Customers can also contact Upbest's customer support team by phone. The provided phone number, +852 2545 3298, allows customers to directly speak with a representative and seek immediate assistance or clarification on any issues.
Conclusion
Upbest Commodities Company Limited, with its 10-15 years of presence in the industry, offers a comprehensive range of financial services and market instruments to its clients. Clients have access to a variety of services, including stock broking, margin financing, corporate finance advisory, futures broking, and asset management. The availability of trading platforms, such as the Securities Internet Trading System and the Commodities Online Trading System, provides clients with convenient and efficient means to execute their trades. Furthermore, Upbest's customer support offers channels for communication through email and phone, enabling clients to seek assistance and address their inquiries or concerns promptly.
Unfortunately, the company's offshore regulatory status should be considered, as it may entail certain risks associated with a potentially less stringent regulatory environment compared to domestic regulations. With its diverse market instruments, range of financial services, and commitment to customer support, Upbest Commodities Company Limited meet the investment needs of its clients in a regulated and secure trading environment.
FAQs
Q: What financial services does Upbest Commodities Company Limited offer？
A: Upbest provides a range of financial services including stock broking, margin financing, corporate finance advisory, futures broking, and asset management.
Q: How is Upbest Commodities Company Limited regulated？
A: Upbest is regulated by the Securities and Futures Commission of Hong Kong as an offshore regulation, meaning potentially varied levels of transparency and safety.
Q: What market instruments can clients trade through Upbest？
A: Clients can trade a variety of market instruments such as precious metals, stocks, property, forex, and commodities.
Q: How can clients reach Upbest's customer support？
A: Clients can reach Upbest's customer support through email at info@upbest.com or by calling +852 2545 3298.
Q: Does Upbest offer online trading platforms？
A: Yes, Upbest provides online trading platforms, including the Securities Internet Trading System for stock trading and the Commodities Online Trading System for futures broking.
Q: What are the deposit and withdrawal methods available？
A: Upbest offers deposit and withdrawal options through bank transfers, allowing clients to move funds securely to and from their accounts.
2024-02-07 13:48
2023-03-20 18:16
