Stock Paper Trading Rules

1. Paper trading is available for four markets: Hong Kong, the US, Singapore, and Japan. Access Papertrade to automatically open virtual accounts for these markets, starting with an initial balance of HK$1 million, US$1 million, S$1 million, or JP￥20 million.

2. In paper trading, the types of products you can trade vary by market. The Hong Kong market offers stocks, warrants, CBBCs, and other securities listed on the Hong Kong Stock Exchange. The US market allows trading in stocks, stock options, and index options, while trading in the Singapore and Japan markets is restricted to stocks only.

3. The trading hours for each market are as follows: Hong Kong from 9:30 AM to 12:00 PM and 1:00 PM to 4:00 PM (Hong Kong Time); the US from 4:00 ~ 20:00 (ET) ; Singapore from 9:00 AM to 12:00 PM and 1:00 PM to 5:00 PM (Singapore Time); and Japan from 9:00 AM to 11:30 AM and 12:30 PM to 3:00 PM (Japan Standard Time).

4. The corporate actions supported in each market for paper trading are outlined below.

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

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

8. Paper trading fees do not reflect actual trading fees due to the nature of paper trading. For actual investments, please refer to the fee standards in the official trading environment.

● Hong Kong market:

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

Platform fee: HK$15/order;

Trading tariff: HK$0.5/order;

Settlement fee: transaction amount * 0.002%, minimum HK$2, and maximum HK$100;

Stamp duty: transaction amount * 0.1%, minimum HK$1;

Trading fee: transaction amount * 0.005%, minimum HK$0.01;

Transaction levy: transaction amount * 0.0027%, minimum HK$0.01;

● US market:

Commission: US$0.0049/share, minimum US$0.99/order;

Platform fee: US$0.005/share, minimum US$1/order;

Settlement fee: transaction shares * US$0.003;

Regulatory fee: transaction amount * US$0.000008, minimum US$0.01/order;

Trading activity fee: transaction shares * US$0.000166, minimum US$0.01 and maximum US$8.3 (sell orders only);

● Singapore market

Commission: transaction amount * 0.03%, minimum S$0.99/order;

Platform fee: transaction amount * 0.03%, minimum S$1.50/order;

Trading fee: transaction amount * 0.0075%;

Clearing fee: transaction amount * 0.0325%;

● Japan stock market:

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.