1. Paper trading is available for four markets: the Hong Kong stock market, the US stock market, the China A-shares market, and the Japan stock market. To open a virtual account, simply tap the "Get Now" button for the market you want to trade in. Each virtual account starts with an initial balance of HK$1 million, US$1 million, CN￥1 million, or JP￥20 million.

2. The product types you can trade in paper trading are limited to stocks, warrants, CBBCs, and other products listed on the Hong Kong Stock Exchange for the Hong Kong stock market, and to stocks for both the US stock market，the China A-shares market and the Japan stock market.

3. Trading hours: Hong Kong stock market: 9:30 AM-12: 00 PM, 1:00 PM-4:00 PM (Hong Kong Time); US stock market: 9:30 AM-4:00 PM (Eastern Standard Time); China A-share market: 9:30 AM-11: 30 AM, 1:00 PM-3:00 PM (Hong Kong Time); Singapore stock market: 9:00 AM-12:00 PM,1:00 PM-5:00 PM (Hong Kong Time); Japan stock market: 9:00 AM–11: 30 PM, 12:30 PM–3:00 PM (Japan Standard Time).

4. Paper trading supports dividends and bonus shares, but does not support IPO shares subscription, rights issue, or placement.

5. Paper trading adopts the rules of order matching. The highest bid (best bid) and the lowest ask (best ask) are the best prices for matching. A buy order at a price higher than the best bid or a sell order at a price lower than the best ask satisfies the matching conditions and will be automatically queued for execution.

6. The paper trading system is not necessarily consistent with the real stock market. In case of any inconsistency, data in the paper trading system shall prevail.

7. If you hold stocks of a listed company which is delisted for any reason, you may no longer trade such stocks in later trading days, and the system will return the virtual funds to your virtual account at the last closing price.

8. Fees in the paper trading system are charged by reference to the real market. If there is a slight inconsistency, fees in the paper trading system shall prevail.

● Hong Kong stock market:

Commission: transaction amount * 0.03%, minimum 3 HKD/order;

Platform Fee: 15 HKD/order;

Trading Tariff: 0.5 HKD/order;

Settlement Fee: transaction amount * 0.002%, minimum 2 HKD, and maximum 100 HKD;

Stamp Duty: transaction amount * 0.1%, minimum 1 HKD;

Trading Fee: transaction amount * 0.005%, minimum 0.01 HKD;

Transaction Levy: transaction amount * 0.0027%, minimum 0.01 HKD;

● US stock market:

Commission: 0.0049 USD/share, minimum 0.99 USD/order;

Platform Fee: 0.005 USD/share, minimum 1 USD/order;

Settlement Fee: transaction shares * 0.003 USD;

Regulatory Fee: transaction amount *0.000008 USD, minimum 0.01 USD/order;

Trading Activity Fee: $0.000166/Share, min $0.01/trade, max $8.30/trade (sells only);

● China A-shares market:

Commission: transaction amount * 0.03%, minimum 3 CNY/order;

Platform Fee: 15 CNY/order;

Handling Fee: transaction amount * 0.00487%, minimum 0.01 CNY/order;

Securities Management Fee: transaction amount * 0.002%, minimum 0.01 CHY/order;

Transfer Fee (CSDC): transaction amount * 0.002%, minimum 0.01 CNY/order;

Transfer fee (HKSCC): transaction amount * 0.002%, minimum 0.01 CNY/order;

Stamp Duty (sells only): transaction amount * 0.1%;

Portfolio Fee: number of shares held * 0.008%/365.

● Japan stock market:

Contract Price	Commission
JP￥50,000	JP￥50 (JP￥55, tax included)
JP￥100,000	JP￥90 (JP￥99, tax included)
JP￥200,000	JP￥105 (JP￥115, tax included)
JP￥500,000	JP￥250 (JP￥275, tax included)
JP￥1,000,000	JP￥487 (JP￥535, tax included)
JP￥1,500,000	JP￥582 (JP￥640, tax included)
JP￥3,000,000	JP￥921 (JP￥1,013, tax included)
Above JP￥3,000,000	JP￥973 (JP￥1,070, tax included)

9. If you bought a CBBC and it is called because its call price is reached, then its residual value will be set to zero. The same is applicable if a warrant expires.

10. Transaction fees deducted in the paper trading system are not real expenses. The paper trading system is free of charge, so please feel free to use it.

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關稅風暴暫離高壓區！市場能否迎來反彈？

當地時間4月22日，美國總統特朗普公開承認美國目前對中國出口商品的關稅過高，預計稅率將大幅降低；美國財政部長貝森特也表示中美雙方關稅戰將很快降溫。4月25日，特朗普表示將爲不同國家設定「公平的」關稅稅率。特朗普此次對華關稅態度的轉變，能否平息市場恐慌情緒？關稅拉鋸戰最終結局如何？ Show More

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Apr 14 07:43

"Leaving the Group - Raising Taxes - Tweeting: The 'Money Making Strategy' of the Most Wild Gemini in Contemporary Times"

It's said that Trump is a walking drama machine, raising tariffs today and praising China tomorrow, making stock investors feel like they are on a roller coaster every day. But if you have seen hisThe Art of Trade, and then take another look at hisGemini horoscope—Wow! This guy's approach is simply the business version of "Empresses in the Palace", with every step marked by the four big characters "I want to make money".
The main core strategy in the book "The Art of Trade" is the combination of business thinking and the art of gaming.
Its core logic can be summarized into the following five dimensions:
1. The underlying logic of "creating momentum" and "the combination of reality and illusion".
The book emphasizes "always let the other party make the first offer" and "exaggerate demand to gain leverage."This strategy is often seen in tariff policies and trade negotiations.
[Example]
By imposing tariffs on various countries to create pressure, opponents are forced to the negotiation table, and then an agreement is reached through phased concessions.
II. Practical Application of the "Big Negotiation" Strategy
First, he scared everyone quite a bit, and then he gave a little reward.Imagine you are bargaining in a vegetable market, and Trump's approach is to first raise a loudspeaker and shout: "This pile of cabbage must be sold to me for 100 yuan today!" When the vendor is stunned, he suddenly rubs his hands and says: "But seeing that you are not having an easy time, let's settle for 80 yuan~"
[Example]
1. In 2018, tariffs were imposed on CN commodities, turning the global stock market into a green wilderness. Just when everyone was about to collapse, he suddenly signed a first-phase agreement and triumphantly tweeted: "No one understands deals better than I do!"
2. On April 2, 2025, ...

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