What if I don't have a bank account in Hong Kong?

For applicants who have a bank account in Hong Kong, they can verify their identity by arranging a bank transfer or providing a personal cheque.

If you do not have a bank account in Hong Kong, you can arrange a witness to do it for you.  An acceptable witness can be a Notary Public, an officer from embassy, or a financial / legal professional (such as bank manager, Certified Public Accountant, Practicing Lawyer, Chartered Secretary, etc.)

The witness will need to:

1. Verify your Signature(s) - Witness shall sign at section "Witness' Signature" in the account opening form after witnessing your signing at section "Client Declaration" in the same form.
2. Certify your Proof of Citizenship and Identity - Witness shall certify cop(ies) of your official ID(s) (Acceptable Official ID) by signing and stating "Certified True Copy" on them.

You can also visit us and apply in person.  Our friendly staff can also perform the verification for you on site, and assist you with any questions you may have.

How do I know my account application is successfully?

As soon as your application is approved, your BOOM account will be activated.  And you will received an email from us with:

1. Login ID and Login Password - for logging-in to your account
2. BOOM Account Number - for account identification on written notices

Why am I asked to fill and sign Form W-9?

If you are an U.S. Person¹, then you are required to completed the Form W-9 to certify your U.S. tax status².

Note:

1. "U.S. Person" refers to U.S. citizen / resident, U.S. green card holder, a person that meets the substantial presence test, or any other person that is not a foreign person. And kindly note it is BOOM's policy that U.S. stock trading service is not offered to any U.S. Person.

2. Under the Foreign Account Tax Compliance Act (FATCA), foreign financial institutions (such as BOOM) are required to report to the U.S. tax authority your financial assets in your BOOM account.

When should I open a margin account?

If you want to do "day-trading" on U.S. stocks, you should open a margin account. Cash account holder can only use the U.S. sales proceeds to buy U.S. stocks on T+1 day due to U.S. “Day Trading Rule”.

Can I open a corporate account?

Yes.  To apply for a corporate account, you can visit our office or mail-in your application.  

1. Download and print the corporate account opening form.
2. Follow the section "Applicant(s)' Checklist" in the account opening form to prepare all documents required for your corporate account application.
3. Return the signed account opening form and the supporting documents to our office in person (with applicable company chops) or by mail.