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HONG KONG, March 2, 2017 /PRNewswire/ -- Charles Schwab, Hong Kong, Ltd. today announced it will further reduce its standard online equity trade commissions from $6.95 to $4.95[1] and lower options pricing to $4.95 plus $0.65 per contract effective March 3, 2017 (U.S. Time).
"We never want commission costs to be a barrier for investors deciding which firm can best serve their needs," said Schwab President and Chief Executive Officer Walt Bettinger. "In addition to low commissions, combined with our unique Satisfaction Guarantee[2] and outstanding client service, we believe that Schwab is clearly the best place for investors looking for value and service."
Mr. Bettinger continued, "Our vision at founding was to be a champion for all investors, and that conviction is still at the heart of everything we do. We operate efficiently, and consistent with our strategy, we are committed to sharing the benefits of our scale with clients, who've entrusted us with their hard-earned dollars."
Michael Fong, Managing Director, Charles Schwab Hong Kong, added, "At Schwab Hong Kong, we are dedicated to delivering value and offering clients outstanding experiences. We continue to focus on improving the investment environment for individual investors by providing them with the unique combination of Satisfaction Guarantee and low trading cost, while they look to diversify their investment outside of their home market."
About Charles Schwab Hong Kong
Charles Schwab, Hong Kong, Ltd., is a subsidiary of Charles Schwab Corporation and is registered with the Securities & Futures Commission ("SFC") to carry out the regulated activities in dealing in securities and advising on securities under CE number ADV256. The company currently provides services via its Hong Kong office, its telephone system (+852 2101-0511) and web site (www.schwab.com.hk).
About Charles Schwab Corporation
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 335 offices and 10.2 million active brokerage accounts, 1.5 million corporate retirement plan participants, 1.1 million banking accounts, and US$2.78 trillion in client assets as of December 31, 2016. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, money management, custody, and financial advisory services to individual investors and independent investment advisors. More information is available at www.schwab.com and www.aboutschwab.com.
Disclosures
| [1] |
Restrictions apply: The $4.95 commission does not apply to foreign stock transactions, large block transactions requiring special handling, or restricted stock transactions. Foreign ordinary shares that trade online in the U.S. over-the-counter (OTC) market and do not settle in the U.S. will have a $50 foreign transaction fee added to the cost of the transaction. All broker-assisted and automated phone trades are subject to service charges. See the Charles Schwab Pricing Guide for Individual Investors for full fee and commission schedules. Employee equity compensation transactions are subject to separate commission schedules. Multiple-leg options strategies will involve multiple commissions. |
| Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options" and "Risk Disclosure Statement for Derivative Products." Supporting documentation for any claims or statistical information is available upon request. Call Schwab at +852 2101 0511 for a current copy. Supporting documentation for any claims or statistical information is available upon request. |
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| [2] |
If you are not completely satisfied for any reason, at your request Charles Schwab, Hong Kong, Ltd., as applicable, will refund any eligible fee related to your concern within the timeframes described below. Two kinds of "Fees" are eligible for this guarantee: (1) asset-based "Program Fees" for the Schwab Private Client ("SPC") and (2) commissions and fees listed in the Charles Schwab Pricing Guide for Individual Investors ("Account Fees"). Program Fee refund requests must be received no later than the next calendar quarter after the Fee was charged. Account Fee refund requests must be received within one year of the date that the Fee was charged. |
| The guarantee is only available to current clients. Refunds will only be applied to the account charged and will be credited within approximately four weeks of a valid request. No other charges or expenses, and no market losses will be refunded. Other restrictions may apply. Schwab reserves the right to change or terminate the guarantee at any time. |
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| Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses. Please read it carefully before investing. |
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| Investing involves risk including loss of principal. |
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| Broker-assisted trades may be subject to service or account fees. (0317-VU76) |
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