You may use the withdrawable cash in your account. But unsettled cash from stocks that have just been sold cannot be used.
The withdrawable amount shown on your account page is your ''Maximum Withdrawable'' whereas the amount available for IPO subscription by cash is ''Cash Withdrawable'', which may be smaller than ''Maximum Withdrawable''. Please refer to the available cash amount shown on the IPO subscription page. As long as you subscribe within this amount limit, no interest will accrue.
After receiving your subscription, the system will freeze the required money immediately and deduct it on the Futu subscription deadline.
You may cancel or edit your IPO subscription before the required money is deducted. Please refer to the relevant notification for the exact deduction time.
Your new deposits will automatically cover the deficits (if any) in your account.
No. You may use your stock positions as collateral for bank-financed subscription. Even if you have no assets in your HK account, you can use assets in your US/A-share account as collateral for bank-financed subscription as long as you have enabled cross-market trade.
After receiving your subscription, the system will freeze the required money immediately and deduct it on the Futu subscription deadline.
Interest accrues from the Futu subscription deadline. Please refer to the Futubull app for the specific amount of interest. The timing of your subscription request will not make any difference.
You may not pay back bank-financed funds early. Interest will be deducted from your account on the announcement date of allocation results.
If you receive no allocation after the announcement of allocation results, the system will return the deducted funds (excluding subscription fees) to your account. If you are allocated shares, the system will add them into your position and deduct the corresponding money.
If your account runs too low on funds after the announcement of allocation results, a margin call will be triggered. Please deposit sufficient money into your account before the listing date. Otherwise Futu reserves the right to carry out forced liquidation without prior notice.
Interest on bank financing will be deducted on the announcement date of allocation results.
No. You may adjust the ratio of you own funds to the money borrowed via bank financing according to your personal needs.
You may cancel or edit your subscription before the deduction time. Please refer to the relevant notification for the exact deduction time.
Note: Please pay attention to the subscription deadline in case you don’t have enough time to re-subscribe after cancelling your subscription.
No. You may choose only one.
You may use your new deposits to subscribe to IPOs immediately after paying off your existing deficits (if any).
If you sell your stocks, you can use the proceeds to subscribe to IPOs the same day as long as subscription has not ended on day T+2 when these proceeds will be settled. If subscription will have ended on day T+2, you may use only your current available funds for subscription.
The allocation rules are set by the exchanges. Typically, the more shares you subscribe to, the more likely you will get allocated.