Mox Bank launches 24/7 equities and fund trading services

Customers can invest as little as HK$1.

Mox Bank has launched Mox Invest, a 24/7 wealth management service that allows customers to invest in an exclusive fund for as little as HK$1.

Mox Invest offers US and Hong Kong equities and fund trading services, reportedly the first virtual bank to do so in the city.

Customers can buy fractions of US stocks based on their desired investment amount, without a ‘whole share-based investment’ requirement being a barrier.

 Trading commission fees are almost 50% below average market rates: a 0.12% HK stock trading fee (with a HK$30 minimum HK$30), US$0.01 per share US stock trading commission fee (with a US$5 minimum), as well as a fixed commission fee of US$1 for US fractional share trades of less than one share.

Customers in particular can access an exclusive fund that Mox offers with Allianz Global Investors Asia (AllianzGI) for as low as HK$1. The fund seeks long-term income and enhanced return by investing directly and indirectly in global interest-bearing securities. 

The Mox and AllianzGI fund may invest in investment grade bonds and up to 5% of net asset value in global equities. As of 31 December, AllianzGI had invested over 90% of the fund assets in fixed income securities and deposits, with a weighted yield to maturity of 4.44% per annum, and the fixed income securities invested have an average credit rating of AA5.