Terms & Conditions of New Clients Welcome Offer
Promotional period: From 9 December 2022 (9th inclusive).
Exclusive welcome offers for new clients
- Magpie PREMIUM Rate: 2.88% P.A. interest on uninvested cash balance
- HKD $200 Wellcome supermarket voucher
The exclusive welcome offers will be rewarded in the specific ways as below
- All interest will be accrued and deposited directly into client's securities account
- Wellcome voucher will be sent by post
Deposit HKD or USD to enjoy Magpie PREMIUM rate 2.88% P.A.
- New clients who complete online opening of Global Margin Account in Magpie Securities Limited (the Company) and make a one-off initial deposit of at least HKD $10,000 or USD $1,400 during the promotional period, as long as the cash balance in clients’ securities account reaches the“Cash balance threshold to get interest”, all cash balance within ‘Maximum interest-earning cash balance’ is entitled to the interest rate of 2.88% P.A..
|Cash balance threshold to get interest||$10,000||$1,400|
|Annual interest rate||2.88%||2.88%|
|Maximum interest-earning cash balance||$1,000,000||$125,000|
2. Cash balance refers to the idle cash balance in the clients' securities accounts, excluding the securities value.
3. Magpie PREMIUM Rate is only applicable to HKD and USD.
4. Interest will be accrued daily and deposited into the client's securities account on the last trading day (HK stock market) of each month.
4.1 Examples are as follows:
- HKD $10,000 cash balance can enjoy 2.88% annual interest rate, client will receive HKD $72 from interest rate if client withdraws the cash balance after 3 months ($10,000 x 2.88%/12*3)
- USD $2,000 cash balance can enjoy 2.88% annual interest rate, client will receive USD $28.8 from interest rate if client withdraws the cash balance after 6 months ($2,000 x 2.88%/12*6)
- Client makes a one-off initial deposit of HKD $10,000 and uses HKD $2,500 to buy stocks after the account is approved. Therefore, the cash balance in the client's account becomes HKD $7,500. This account is not entitled to the Magpie PREMIUM rate, until the client deposits funds into the account so that the cash balance in the account reaches HKD$10,000 or above to enjoy the Magpie PREMIUM rate 2.88% P.A.
5. If a client buys stocks, the cash balance shown in the client's securities account will be deducted on that day, but due to different settlement time of different exchanges, the interest will still be accrued on the un-deducted balance on that day, until relevant transactions are officially settled. Likewise, if a client sells stocks, the interest will be accrued on the un-deposited balance on that day, until the transaction is officially settled.
6. The Company has absolute discretion to adjust the “Cash balance threshold to get interest”, “Maximum interest-earning cash balance” and annual interest rate offered in response to market conditions and interest rate fluctuations without further notice to clients.
HKD $200 Wellcome voucher
- New clients who successfully open a Global Margin Account in Magpie Securities Limited (the Company), meaning the account is approved by the Company during the promotional period , will receive HKD $200 Wellcome supermarket voucher.
- The Company will send out an email for reward entitlement within 14 business days to Eligible Client together with the ‘Magpie Securities News Clients Welcome Offer Form’ for the confirmation of personal information and correspondence address for receiving Wellcome voucher.
- The Eligible Client shall fill out the ‘Magpie Securities News Clients Welcome Offer Form’ online within 10 business days after the Company having sent out the email. Otherwise, the Company will use the ‘Correspondence Address’ of the Eligible Client as the delivery address of Wellcome voucher.
- The Wellcome voucher will be sent out within 14 business days after the Company has received the filled ‘Magpie Securities News Clients Welcome Offer Form’. If no email reply is received within 10 business days, the Company will send out Wellcome vouchers within 24 business days after having sent the reward entitlement email.
- The delivery will be based on the information provided by Eligible Clients. The Company will not be responsible for any errors or omissions that lead to the failed delivery, return or loss.
- The Terms and Conditions of the voucher usage is subject to Wellcome supermarket or their suppliers. It’s not returnable, exchangeable for other gifts, or exchangeable for cash. The Company will not reissue or replace and will not be responsible for any loss, damage or defacement.
- The Company is not a supplier of Wellcome supermarket. If clients have any inquiries or complaints about the vouchers, please contact Wellcome supermarket or their suppliers directly. The Company does not guarantee the quality of voucher and services provided by Wellcome supermarket or their suppliers, nor is responsible for any consequences by using the voucher.
Other Terms and Conditions
- This activity is limited to clients in Hong Kong who must be 18 years old or above.
- New clients refer to those who have not opened any trading account in the Company before 9 December 2022.
- If there is any conflict or discrepancy between the Chinese and English versions, the English version shall prevail.
- To receive the offers, the requirements listed above must be fulfilled within the promotional period. For more details, please contact Magpie Securities Customer Service Department via ‘Chat with us’ in the Magpie Invest APP or through hotline: (852) 3588 0489.
- The Company reserves the right to change, suspend or terminate the above promotional offers and terms and conditions at any time without prior notice to the clients. All are subject to the Company's absolute discretion and interpretation.
- This promotional offer does not constitute any offer, solicitation, recommendation, advice or any assurance of any securities or financial products. The content of this promotion is provided by the Company, which has not been reviewed by the Securities and Futures Commission.