- Futu Securities launches Bitcoin and Ether trading with zero commission fees.
- New clients can earn Alibaba shares or Bitcoin with initial deposits.
- Futu partners with HashKey, one of two approved crypto exchanges in Hong Kong.
Futu Securities International, Hong Kong’s largest online brokerage, is offering new customers deposit bonuses in Bitcoin as part of a promotional offer to encourage users to create accounts.
According to information on the company’s website, between August 1 and August 31, 2024, new users who match particular conditions can benefit from numerous benefits, including considerable Bitcoin.
Promotional Offers to New Clients
New Users who deposit HK$10,000 ($1,280) by the end of August and maintain an average daily balance for 60 days can choose one of three rewards: a stake in Alibaba, a HK$400 supermarket voucher, or HK$600 worth of Bitcoin.
Clients with more significant deposits of $80,000 can select between getting HK$1,000 ($128) in Bitcoin or a share of Nvidia (NVDA). Rewards will be credited within 10 trading days after maintaining the required average daily balance over 60 days.
Through a partnership with HashKey Exchange, one of approved cryptocurrency exchanges in Hong Kong Futu intends provide bitcoin trading services
The awards are intended to attract many new clients and give them an early advantage in their financial journey. Eligibility for these offers requires that participants be at least 18 years old, have never owned a Futu HK brokerage account, and have not deposited monies with Futu HK before August 1, 2024. In addition, they must have a Hong Kong resident identity card or an international passport.
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Additionaly,the brokerage has decided to offer zero commission fees for cryptocurrency trading, which complements the other investment services offered by Futu.
Regulatory Compliance and Market Expansion
The Hong Kong Securities and Futures Commission regulates Futu Securities. This regulatory structure assures that the brokerage follows stringent operational integrity and client security guidelines. The company’s move to offer cryptocurrencies came when Hong Kong increased its openness to the crypto industry with the recent approval of spot crypto exchange-traded products.
In addition to its current services, Futu is seeking a license to extend cryptocurrency trading to its subsidiary, Panthertrade. The subsidiary is presently considered licensed, which permits it to offer crypto services while awaiting full regulatory approval.
As Futu Securities continues to expand its service offerings, the broader context of cryptocurrency regulation in Hong Kong remains supportive. The region implemented a new stablecoin regulatory framework in July, following a two-month public comment period that ended in February. Industry players have generally agreed to this framework.
Futu’s proactive approach to incorporating digital assets in its portfolio strengthens its market position and is consistent with Hong Kong’s desire to become a worldwide hub for cryptocurrency trading.
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