Mox Bank Limited aims to reinvent the wealth management and banking experience by making the Mox Invest service available to current and new Mox customers in Hong Kong.
The 24/7 service brings Mox’s user experience to wealth management, making it the first Hong Kong virtual bank to offer US and Hong Kong stocks and funds trading. Customers can invest in a dedicated fund for as little as HKD1.
Barbaros Uygun, CEO of Mox, said:
“Mox Invest makes investing simple for first-timers, while also catering to sophisticated investors. We make investing accessible and bring our client-centric approach to the wealth management industry in Hong Kong. We now welcome all new and existing customers to experience this innovative and affordable investment experience.”
With Mox Invest, building a diversified portfolio is quick and simple. With just a few taps and instant access to information, both first-time and experienced clients can start investing in a fund for as low as HKD1 and buy fractions of US shares in whatever amount clients want.
As the first bank in Hong Kong to offer US fractional equity trading services, Mox Invest brings clients a new dollar-based investment experience. This enables clients to invest in US stocks based on their desired investment amount, without the “total equity-based investment” requirement being a barrier.
In addition to a quick onboarding process, Mox Invest clients also enjoy trading commissions, nearly 50% below average market rates: 0.12% HK share commission (minimum HKD 30), USD 0.01 per share Trading commission commission of US shares (minimum 5 USD ) and a fixed commission fee of 1 USD for trades of fractional US shares of less than one share.
The launch of equity and capital trading services in the US and Hong Kong is just the first step for Mox Invest. Mox is also looking at a portfolio-based investment approach, which is typically only available to high-net-worth clients in the private banking space, and supporting clients with recommendations tailored to the individual’s specific circumstances.
Under this approach, clients will be able to manage their investments with a disciplined investment allocation between core and regular investments. This will bring a whole new investment experience to retail banking customers in Hong Kong.