摘要:BOOM, operated by Monex Boom Securities (H.K.) Limited in Hong Kong, is a regulated company that offers various market instruments including multi-market stocks, futures contracts, stock futures, currency futures, interest rates futures, metal futures, agricultural futures, and energy futures. They provide two types of account options: Individual/Joint Accounts and Corporate Accounts, allowing users to trade in multiple markets. Opening an account with BOOM requires an online application process and the submission of supporting documents. The platform offers mobile trading, direct market access, straight-through processing, and online security measures. Traders can access trading tools such as technical analysis, expert opinions, sector monitoring, global stocks watchlist, stock search tools, and real-time quotes. Educational webinars are also available to provide market insights. Customer support is provided through various channels. Reviews on WikiFX show mixed feedback, with concern
Aspect | Information |
Registered Country/Area | Hong Kong |
Founded year | 2005 |
Company Name | Monex Boom Securities (H.K.) Limited |
Regulation | Regulated by the Securities and Futures Commission of Hong Kong (License No.: AEF808) |
Minimum Deposit | HKD 1,000 per month for Hong Kong stocks, USD 150 per month for U.S. stocks |
Maximum Leverage | N/A |
Spreads | Detailed information not provided |
Trading Platforms | MONEX BOOM Mobile Trading App, Direct Market Access (DMA), Straight-through Processing (STP) |
Tradable assets | Multi-Market Stocks, Futures Market, Stock Futures, Currency Futures, Interest Rates Futures, Metal Futures, Agricultural Futures, Energy Futures |
Account Types | Individual/Joint Accounts, Corporate Accounts |
Demo Account | N/A |
Islamic Account | N/A |
Customer Support | Customer Service Hotline, Dealing Hotline, Email, Online form, Fax, Physical office |
Payment Methods | Deposit: Internet banking, phone banking, cheque deposit/transfer, personal cheque, bank draft, ATM, FPS, wire/telegraphic transfer. Withdraw: Wire/bank transfer, receiving a cheque |
Educational Tools | Webinars |
Overview of BOOM
BOOM, operated by Monex Boom Securities (H.K.) Limited, is a company based in Hong Kong. It has been operating for over 15 years and is regulated by the Securities and Futures Commission of Hong Kong. The company holds a license for dealing in futures contracts and complies with the regulations set by the regulatory authority. BOOM offers a range of market instruments, including multi-market stocks, futures contracts, stock futures, currency futures, interest rates futures, metal futures, agricultural futures, and energy futures. The company provides two types of account options: Individual/Joint Accounts and Corporate Accounts, allowing users to trade in multiple markets.
Opening an account with BOOM involves filling out an application form online and submitting supporting documents through the MONEX BOOM App. The company charges fixed transaction fees for trading Hong Kong and U.S. stocks, which include brokerage commission and other transaction-related charges. BOOM has minimum deposit requirements for monthly investments in both Hong Kong and U.S. stocks, and it offers various deposit and withdrawal methods. The company provides trading platforms such as the MONEX BOOM Mobile Trading App, which allows clients to access global securities trading on the go. BOOM also offers trading tools like technical analysis, master views, sector watch, global stocks watchlist, stock search tools, and real-time quotes. Educational resources in the form of webinars are available to educate traders and investors on market trends and investment strategies. BOOM provides customer support through multiple channels, including a customer service hotline, email, fax, and physical office.
Reviews of BOOM on WikiFX are mixed, with some users expressing concerns about the website's design and absence of regulatory licenses. However, there are also users who recommend the company based on positive experiences. Overall, BOOM offers a range of market instruments, account options, trading platforms, tools, and educational resources, and it is regulated by the Securities and Futures Commission of Hong Kong.
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Pros and Cons
BOOM is a trading platform regulated by the Securities and Futures Commission of Hong Kong, which provides both pros and cons for users. On the positive side, BOOM offers a wide range of market instruments and provides two types of account options to cater to different trading preferences. Additionally, BOOM has a mobile trading app that allows users to access their accounts on the go, and it offers direct market access for fast execution of trades. Furthermore, the platform provides various trading tools for analysis and conducts educational webinars to enhance market education. However, there are some drawbacks to consider. Firstly, there have been concerns about odd website sizing and poor user experience, which may impact the overall trading experience. Moreover, the absence of regulatory licenses for BOOM raises questions about the platform's level of regulation and oversight, potentially affecting user trust. Additionally, the lack of contact details for customer support and limited information on the features offered by different accounts can make it challenging for users to seek assistance and make informed decisions. Lastly, there is limited information available on spreads, commissions, and leverage, which may restrict users' ability to assess the cost of trading and manage their risk effectively.
Pros | Cons |
Regulated by the Securities and Futures | Concerns about odd website sizing and poor |
Commission of Hong Kong | Absence of regulatory licenses raises questions about regulation |
Offers a wide range of market instruments | Absence of regulatory licenses raises questions about regulation |
Provides two types of account options | Lack of contact details for customer support |
Mobile trading app for access | Limited information on the features offered by different accounts |
Direct Market Access for fast execution | Limited information on spreads and commissions |
Provides various trading tools for analysis | Limited information on leverage |
Educational webinars for market education |
Is BOOM Legit?
BOOM, operated by Monex Boom Securities (H.K.) Limited, is regulated by the Securities and Futures Commission of Hong Kong. It holds a license for dealing in futures contracts (License No.: AEF808) and has been operating since January 26, 2005. The company's regulatory status is described as “regulated,” indicating that it complies with the regulations set by the Hong Kong regulatory authority. The licensed institution can be contacted through their email address (service@boomhq.com) and their website (https://www.boom.com). The company's office is located at Room 2501, 25th Floor, Manulife Plaza, 183 Electric Road, North Point, Hong Kong. Contact details such as the phone number and expiry date are not provided in the given information.
Market Instruments
Market Instruments of BOOM can be categorized into several types:
1. Multi-Market Stocks: These are stocks traded in various markets. Examples of multi-market stocks include companies like Apple, Microsoft, Alibaba, and Tencent.
2. Futures Market: BOOM offers futures contracts on different underlying assets. For example, Hong Kong Futures include Hang Seng Index Futures (HSI), H-share Index Futures (HHI), and Mini Hang Seng Index Futures (MHI). Global Futures include E-mini Dow Jones Futures, E-mini S&P 500 Futures, and E-mini NASDAQ 100 Futures.
3. Stock Futures: BOOM provides futures contracts on individual stocks. Examples of stock futures include Hong Kong Stock Futures and USD/CNH Futures.
4. Currency Futures: BOOM offers futures contracts on different currency pairs. Examples include Australian Dollar, British Pound, Canadian Dollar, Euro, Japanese Yen, and Chinese Renminbi futures.
5. Interest Rates Futures: BOOM provides futures contracts based on interest rates. Examples include 30 YR. US T-Bond, 10 YR. US T-Note, 5 YR. US T-Note, and 2 YR. US T-Note futures.
6. Metal Futures: BOOM offers futures contracts on precious metals. Examples include Gold, Shanghai Gold (USD), Shanghai Gold (CNH), Silver, Copper, Palladium, and Platinum futures.
7. Agricultural Futures: BOOM provides futures contracts on agricultural commodities. Examples include Corn, Soybeans, Wheat, Oats, Rice, and Live Cattle futures.
8. Energy Futures: BOOM offers futures contracts on energy commodities. Examples include Crude Oil, NY Harbor ULSD, Natural Gas-Henry Hub, and RBOB Gasoline futures.
Pros and Cons
Pros | Cons |
Diversified range of market instruments available | Potential complexity and risk associated with futures |
Provides access to multi-market stocks and global futures | |
Offers futures contracts on various assets and commodities |
Account Types
BOOM offers two types of account options: Individual/Joint Accounts and Corporate Accounts. The Individual/Joint Account allows individuals or joint account holders to trade in 16 different markets. On the other hand, the Corporate Account is designed for corporate entities interested in trading activities. These account types provide users with the necessary access and features to engage in trading across multiple markets.
How to Open an Account
To open an account with BOOM, follow these steps:
Click on the “Open Account” button on the website.
Select the type of account you wish to open, either an Individual/Joint Account or a Corporate Account.
Make sure you have a smartphone (iOS or Android) for installing the MONEX BOOM App, as it will be used for online submission.
Prepare an email address for verification and future correspondence.
Fill in the application form online through your browser.
Submit your application and supporting documents online via the MONEX BOOM App.
Please note that BOOM reserves the right to refuse any account application.
If you prefer to apply by mail, you will need a printer to print the completed online application form.
Attach the required supporting documents, which include a copy of your valid Official ID/Passport and proof of residential address issued within the last three months.
If available, include a personal cheque payable to “Monex Boom Securities (H.K.) Limited” or follow the instructions for verifying your signature and identity.
If applicable as a U.S. Person, complete Form W-9 to certify your U.S. tax status.
Return the signed application form and supporting documents by mail to the specified address.
Once approved, you will receive an email with your Login ID, Login Password, and Account Number for online access to your BOOM account.
Spreads & Commissions
BOOM provides detailed information on spreads and commissions for various financial instruments. The fees and commissions page outlines specific numbers for different contracts. For example, the E-mini Dow Jones Futures (YM) on CBOT has a contract size of USD 5 x Index, with a minimum fluctuation of 1 pt. = USD 5.
Fees
BOOM charges a fixed transaction fee for trading Hong Kong stocks, which amounts to HKD 50 per month. This fee includes brokerage commission and all transaction-related charges such as Stamp Duty, Levy, Trading Fee, and CCASS Fee. For trading U.S. stocks, BOOM charges a fixed transaction fee of USD 8 per month. In addition, BOOM does not impose any custody fees, plan adjustment handling fees, or plan termination handling fees for both Hong Kong and U.S. stocks.
Minimum Deposit
BOOM has specific minimum deposit requirements for monthly investments in Hong Kong stocks and U.S. stocks. For Hong Kong stocks, the minimum amount is HKD 1,000 per month, while for U.S. stocks, it is USD 150 per month. Additionally, there are additional amount requirements for subsequent investments, which are in multiples of HKD 500 for Hong Kong stocks and multiples of USD 50 for U.S. stocks. BOOM sets a maximum monthly investment limit of HKD 20,000 for Hong Kong stocks and USD 3,000 for U.S. stocks. These minimum deposit requirements help ensure that traders meet the specified investment thresholds when trading on the BOOM platform.
Deposit & Withdrawal
BOOM offers several deposit methods for both securities and futures accounts. For securities accounts, if your bank account is located in Hong Kong, you can deposit funds through internet banking, phone banking, cheque deposit/transfer at the bank counter, cheque deposit machine, personal cheque, bank draft, ATM, or FPS. For bank accounts located outside Hong Kong, you can deposit funds through wire or telegraphic transfer, bank draft, or internet banking (Singapore only) and cheque deposit/transfer at the bank counter (Singapore only).
When it comes to withdrawing funds, BOOM allows you to withdraw to any bank account under your name via wire/bank transfer or by receiving a cheque. There are no additional handling fees. It's important to note that the daily cut-off time for fund withdrawal instructions is 12:00 noon HKT on business days. Instructions received before the cut-off time will be processed on the same day, while those received after the cut-off time will be handled on the next Hong Kong business day.
Pros and Cons
Pros | Cons |
Multiple deposit methods available for securities accounts | Limited deposit methods for bank accounts located outside Hong Kong |
No additional handling fees for fund withdrawals | Daily cut-off time for fund withdrawal instructions |
Withdrawal to any bank account under your name | Limited information on withdrawal processing time |
Trading Platforms
MONEX BOOM Mobile Trading App: BOOM offers a mobile trading app, compatible with iOS and Android devices, allowing clients to access global securities trading on the go. The app features an interface for mobile devices, fast login via biometrics authentication, and market news, commentaries, and promotions.
Direct Market Access (DMA): BOOM offers Direct Market Access for trading Hong Kong stocks, allowing clients to send their orders directly to the HKEX's Central Order Book through the platform. This feature ensures fast execution and is available for both retail and institutional clients.
Straight-through Processing (STP): BOOM supports Straight-through Processing for trades in markets such as the U.S., Japan, Korea, Singapore, United Kingdom, France, Germany, Australia, and Portugal. With STP, clients' orders are processed automatically without manual intervention.
Online Security: Data transmitted through the platform is protected with up to 256-bit encryption. Additionally, a two-level authentication system is implemented to verify online access and instructions.
Pros and Cons
Pros | Cons |
Mobile trading app | Data security could be improved |
Direct market access for Hong Kong stocks | STP is not available for all markets |
Straight-through processing for selected markets | Commission fees are higher than some competitors |
Not all features are available to all clients |
Trading Tools
1. Technical Analysis: BOOM provides stock signals and tools for technical analysis such as “Technical Insight” and “Value Analyzer.” These tools assist traders in analyzing stock trends, patterns, and indicators to make informed investment decisions. Additionally, BOOM offers a daily technical newsletter that provides valuable insights into market trends and analysis.
2. Master Views: BOOM offers Master Views, a feature that allows traders to access expert opinions and recommendations on specific stocks or market trends. This tool provides valuable insights from industry professionals, aiding traders in making well-informed investment choices.
3. Sector Watch: BOOM provides a Sector Watch tool that enables traders to monitor and analyze various sectors within the market. This tool helps traders identify potential investment opportunities within specific sectors and stay updated on sector-specific news and developments.
4. Global Stocks Watchlist: Traders can create and customize multiple portfolios with BOOM's Global Stocks Watchlist tool. This tool allows traders to monitor the performance of stocks from 16 markets simultaneously, providing a comprehensive overview of global investments.
5. Stock Search Tools: The Stock Search Tools provide a Global ETF Center with filtering criteria such as asset classes, investment styles, countries/regions, listing markets, and keywords. Additionally, users can search for ADRs across 50+ countries and regions, compare common stock prices and ADR prices of the same company, and access index composite stocks from major markets including Hong Kong, the U.S., Japan, Taiwan, and Australia. The tools also allow for sorting of composite stocks, price comparison of H-shares and B-shares versus A-shares, and custom sorting based on discount/premium ratio, volume, and company names.
6. Real-Time Quotes: BOOM provides real-time quotes, ensuring that traders have access to up-to-date and accurate market data. Real-time quotes enable traders to make timely decisions based on the latest market information.
Educational Resources
BOOM provides educational resources in the form of webinars. Some recent webinar topics include “Challenges and Opportunities in the Japanese Stock Market” (June 2023), “Impact of the US Debt Ceiling on the US Stock Market” (May 2023), “Investment Strategies for Cryptocurrencies” (February 2023), and “Index and Oil Price Opportunities Amidst US Midterm Elections and Inflation Pressure” (November 2022). These webinars helps educate traders and investors on various market trends, investment strategies, and specific topics relevant to the financial landscape.
Customer Support
BOOM provides customer support through various channels. Traders can contact the Customer Service Hotline at (852) 2255 8888 during the weekdays from 9:00 am to 6:00 pm HKT, excluding Hong Kong holidays. For placing phone orders, the Dealing Hotline can be reached at (852) 2255 8366 during specific trading hours. Traders can also reach out to customer support via email using the address service@boomhq.com or by filling out an online email form. Fax communication is also available at (852) 2255 8300 for customer service inquiries and (852) 2255 8282 for general inquiries. BOOM's physical office is located at Room 2501, 25/F, AIA Tower, 183 Electric Road, North Point, Hong Kong, open from Monday to Friday, 9:00 am to 6:00 pm HKT.
Reviews
The reviews of BOOM on WikiFX are mixed. Some users express concerns about the odd sizing of the website and poor browsing experience, as well as the absence of regulatory licenses. They question how the company has been operating for over fifteen years without proper regulation. On the other hand, there are users who recommend the company based on positive experiences, mentioning that it has been established for almost 20 years and that the trading platform is easy to use. However, there is also a user who expresses hesitation and seeks reassurance regarding the company's trustworthiness due to the lack of regulation mentioned on WikiFX.
Conclusion
In conclusion, BOOM, operated by Monex Boom Securities (H.K.) Limited, is a regulated company in Hong Kong, authorized by the Securities and Futures Commission. It offers a variety of market instruments, including stocks, futures contracts, currency futures, interest rates futures, metal futures, agricultural futures, and energy futures. BOOM provides two types of account options for individuals/joint account holders and corporate entities. Opening an account with BOOM involves a series of steps, including online submission of the application form and supporting documents. The platform offers trading tools such as technical analysis, expert opinions, sector monitoring, global stocks watchlists, stock search tools, and real-time quotes. BOOM also provides educational resources in the form of webinars. Customer support is available through various channels, including a customer service hotline, email, and fax communication. However, there are mixed reviews about BOOM, with some expressing concerns about website navigation and the absence of regulatory licenses.
FAQs
Q: Is BOOM a legitimate company?
A: Yes, BOOM, operated by Monex Boom Securities (H.K.) Limited, is regulated by the Securities and Futures Commission of Hong Kong.
Q: What market instruments does BOOM offer?
A: BOOM offers a wide range of market instruments, including multi-market stocks, futures contracts, stock futures, currency futures, interest rates futures, metal futures, agricultural futures, and energy futures.
Q: What types of accounts does BOOM provide?
A: BOOM offers Individual/Joint Accounts for individuals and joint account holders, as well as Corporate Accounts for corporate entities interested in trading activities.
Q: How can I open an account with BOOM?
A: To open an account with BOOM, visit their website, select the desired account type, fill in the application form online, and submit the required documents.
Q: What are the fees and commissions on BOOM?
A: BOOM provides detailed information on spreads and commissions for different financial instruments. The fees vary depending on the specific contracts being traded.
Q: What is the minimum deposit requirement for BOOM?
A: The minimum deposit requirement for monthly investments in Hong Kong stocks is HKD 1,000, and for U.S. stocks, it is USD 150. Additional amount requirements apply for subsequent investments.
Q: How can I deposit and withdraw funds with BOOM?
A: BOOM offers various deposit methods, including internet banking, wire transfers, cheques, and ATM deposits. Withdrawals can be made through wire transfers or by receiving a cheque.
Q: What trading platforms does BOOM provide?
A: BOOM offers the MONEX BOOM Mobile Trading App for trading on the go, Direct Market Access (DMA) for trading Hong Kong stocks, and Straight-through Processing (STP) for automated trades.
Q: What trading tools are available on BOOM?
A: BOOM provides tools for technical analysis, expert opinions and recommendations, sector monitoring, global stocks watchlists, stock search tools, and real-time quotes.
Q: Does BOOM provide educational resources?
A: Yes, BOOM offers webinars on various market trends, investment strategies, and specific topics relevant to the financial landscape.
Q: How can I contact BOOM's customer support?
A: You can contact BOOM's customer support through the hotline, email, online form, or fax. Their physical office is located in Hong Kong.
Q: What do reviews say about BOOM?
A: Reviews on BOOM are mixed, with some expressing concerns about website sizing and regulatory licenses. However, others recommend the company based on positive experiences and easy-to-use trading platforms.