Frequently asked questions

You may be eligible to open a Mox Invest Account if you:

• are aged 18 or above
• are not a US citizen
• have a Hong Kong Identity Card (either permanent or non-permanent resident)
• have a valid Hong Kong residential and mailing address; and
• have a valid Mox Account in your name

You will need to submit the following additional documents to Mox for opening an investment account:

• Proof of residential address (not required if you have an activated Mox Card and haven't changed your residential and mailing address since the Mox Card activation)
• Employer consent letter (if you are employed by a SFC licensed company/ registered institution)

The Investor Identification Regime (HKIDR) is a regulatory measure implemented by the Securities and Futures Commission (SFC) on 20 March 2023.

Mox has to:

1. assign a Broker-Client Assigned Number (BCAN) to each clients and tag the BCAN to its clients’ securities orders.

2. submit to the Stock Exchange of Hong Kong's data repository the identification data (ie, names and identity document information) of clients placing securities orders on the Stock Exchange of Hong Kong.

We have no minimum deposit requirement for opening a Mox Invest Account.

Mox currently provides HK and US equities (including stocks and ETFs) trading and also funds investment. Mox customers can place buy and sell orders for HK and US equities, and trade selected funds via the Mox App.

When you place a limit order (to buy or sell), you input a specific price in the order such that, if the order executes, the execution price will not be worse than the specified limit price.

For limit orders, orders will be valid until the end of next quarter (e.g. an order placed on 15 January will be valid until 30 June).

A market order is an order to buy or sell at the market bid or ask price. Market orders may increase the likelihood of the order being filled and the speed of execution, but do not guarantee a specific execution price (and may execute at an undesirable price). If you would like greater control over the execution prices you realise, please submit your order using a limit order, which is an instruction to execute your order at or better than the specified limit price.

When you place a market order, you don’t need to input a specific price in the order. Your order will be automatically matched against the best price available in the market to execute your order.

For placing a buy market order, we will mark-up up to 3% of the stock’s market price (for the US market) or 9 bid-ask spreads (for the HK market) to calculate the buying power required for initiating the order.

For market orders, orders will remain valid until market close on the same day.

Margin financing is currently not available at Mox.

Short selling is currently not available at Mox.

If Mox Invest services are down, we may post a notice(s) on the Mox app and/or Mox website to inform our customers and notify updated arrangements for placing sell orders for stocks and/or funds or cancelling open orders for stocks.

You may also call us at +852 2888 8228 for any enquiries. Please be reminded that no buy orders for stocks or funds trading will be supported during service outages.

For limit orders, partially executed orders will be valid until the end of the validity period.

For market orders, partially executed orders will be valid until market close on the same day.

Trading on the HK market is conducted on Monday to Friday (excluding public holidays) during the following hours:

• Pre-opening auction session: 9:00 a.m.– 9:30 a.m. (HKT)
• Continuous trading session: 9:30 a.m.– 4:00 p.m. (HKT)
• Closing auction session: 4:00 p.m. to a random closing between 4:08 p.m. and 4:10 p.m. (HKT)

When placing a limit order at Mox, you are placing a 'Good-Till Cancelled' ("GTC") limit order, and therefore unfilled orders will remain open with any unfilled orders will be active until the end of next quarter. Limit orders will be active in all pre-opening auctions, continuous trading and closing auction sessions.

When placing a 'Market Order' at Mox, you are placing a day limit order with 9 bid-ask spreads better than the current market price and therefore any unfilled orders will be cancelled by the end of day. You can only place market order during continuous trading sessions and the unfilled orders will be remain open until the end of closing auction session.

Currently, Mox supports trading of ordinary shares and exchange traded funds (ETFs) listed on the HK markets, including crypto spot ETFs, crypto futures ETFs and synthetic ETFs.

Currently, Mox does not support trading of derivative warrants, inline warrants and callable bull/bear contracts (CBBCs) listed on the HK market.

Currently, Mox does not support pre-IPO, IPO and grey markets.

Yes, you can see real-time snapshot HK market data in the Mox app.

Currently, Mox supports selling of odd lot shares in the HK Market only. You can simply follow the same steps of selling a stock and click the odd lot button to include all odd lot shares you have.

US securities trading hours are from 9:30 a.m. to 4:00 p.m. US Eastern Standard Time ("EST"), Monday to Friday. i.e. from 9:30 p.m. to 4:00 a.m. Hong Kong Time ("HKT") (summer trading hours) / 10:30 p.m. to 5:00 a.m. HKT (winter trading hours) of the following day. All “Market Orders” that have not been executed will be void on the same day after closing at 4:00 pm EST. Mox Invest does not currently support pre-and post-market sessions trading for US securities trading. US securities trading may be suspended due to special holidays or individual corporate activities without further notice to you.

Currently, Mox does not support trading during pre- and post-trading hours.

Currently, Mox supports trading of ordinary shares and certain exchange traded funds (ETFs) listed on the US markets, including crypto futures ETFs and synthetic ETFs.

Currently, Mox does not support trading of derivatives and OTC traded securities in the US markets.

Mox supports limit orders and market orders for the US markets.

Yes, Mox provides Nasdaq Basic to customers who have opened Mox Invest Accounts enabling you to see real-time US market data.

By trading fractional shares, customers can buy 'fractions' of certain US stocks, that is from less than 1 share down to just 0.0001 shares. Customers can place orders either by inputting a (fractional) number of shares or a dollar amount of investment they want to buy or sell.

You will see a “Fractional trading available” label in the order input page for stocks that are available for fractional share trading.

Yes, you will receive dividends in proportion to your fractional share holdings. For details, please refer to the Terms and Conditions for Mox Invest.

You will not have voting rights for your fractional shares and will not be able to make voluntary elections on any corporate actions with respect to your fractional shares.

Mox supports limit orders and market orders for fractional shares trading.

Mox Invest Account opening is free of charge.

Mox charges no account maintenance fee.

For fees and commissions for trading, please see the fees and charges table.

Mox currently does not support deposit of securities.

For withdrawal of securities, the handling fee per withdrawal is HKD500 for HK securities and USD150 for US securities.

For fees and commissions for corporate actions, please see the fees and charges table.

Before you can trade virtual assets (sometimes also referred to as “crypto”-related products) via Mox Invest, you must have a Mox Invest Account and complete the relevant crypto and derivatives onboarding journeys. Derivatives onboarding is included because some crypto ETFs are derivatives based.

If you have a Mox Invest Account, you can follow the steps below:

Step 1: Log in to the Mox app and navigate to the “Invest” tab

Step 2: Click on the “Explore” tab and search for a Crypto ETF

Step 3: Select any Crypto ETF product that you wish to invest in and click ‘Buy’

Step 4: Complete the crypto and derivatives onboarding journeys

Step 5: Confirm and submit your first Crypto ETF order!

Mox offers certain crypto ETFs listed in HK and US markets, including HK listed crypto spot ETFs, HK listed crypto futures ETFs and US listed crypto futures ETFs.

Currently Mox only offers HK crypto ETFs denominated in HKD and US crypto ETFs denominated in USD.

In general terms, the key difference is that crypto spot ETFs directly hold the actual cryptocurrencies as the underlying assets, while crypto derivatives ETFs hold crypto-related derivatives instruments (e.g. cryptocurrencies futures contracts) instead of spot cryptocurrencies. This distinction can impact the risk, liquidity, and performance characteristics of the ETFs.

You can place buy/sell orders for funds and/or Core Portfolio at any time of day in the Mox app. You can see the estimated execution / settlement date when you preview your order. For each fund’s execution / settlement date, you can refer to ‘Details’ shown in your Activity List.

For funds, Mox charges no trading fees. Please refer to applicable fund offering documents, the Mox Invest terms and conditions, and key risks and important information available in the Mox app for further details and disclosures relating to fee structures for funds.

What is Core Portfolio?
Mox partners with investment professionals to provide a portfolio-based approach for your investments. We aim to construct a portfolio that optimises the expected return on your investments while monitoring your exposure to risk, based on projections of the markets and taking into consideration your individual investment goals and risk tolerance.
How do we create your Core Portfolio?
There are three key steps in the composition of a Core Portfolio:

1. Determining the Strategic Asset Allocation
We develop asset allocation recommendations using our ‘Strategic Asset Allocation’ (SAA) models, which are designed to determine the optimal mix of a variety of asset classes in your portfolio. The following describes how our SAA models are formulated.
(a) We first analyse the risk and return forecasts for different asset classes to derive the ‘Capital Market Assumptions’ (CMAs). CMAs provide the expected returns, standard deviation and correlation estimates that collectively represent the 10-year risk/return forecasts for a variety of asset classes. The CMAs applied are typically refreshed every 3 months. The CMAs are used for formulating our SAA models.
(b) We then use a statistical risk measure called ‘Value at Risk’ (VaR) to estimate the potential loss a specific mix of asset classes might experience over a given period of time. The resulting SAA is a target mix of asset classes tailored to your risk boundary. By applying your risk boundary, we recommend a portfolio based on the SAA model with the appropriate asset class exposure using funds for fulfillment.
We review the SAAs at least quarterly, or whenever there are significant changes in financial conditions that impact the CMAs. This helps to maximise the expected returns within your risk boundary.

2. Fund Selection
We screen and select investment funds for each asset class in your core portfolio in accordance with the recommended allocation of the relevant SAA model. This is further described under ‘How do we select the funds for the Core Portfolio?’.

3. Risk Management
We apply a dynamic risk management overlay, to help protect your portfolio against market downturns while still aiming to capture upside potential. The overlay involves continuously monitoring your portfolio's performance (i.e. risk and return) and making recommendations for adjustments or rebalancing, as needed.

How do we select the funds for the Core Portfolio?
Mox selects investment funds (such as mutual funds) for inclusion in our Core Portfolios using a systematic process combining quantitative and qualitative measures. The process aims at selecting the funds that align with the relevant investment criteria and with potential for outperformance.

Due diligence procedures are performed at both the fund manager (or ‘fund house’) and fund level to determine the final combination of funds for the Core Portfolios. The following steps are undertaken in the due diligence and fund selection process:

1. Screening of the asset class ‘universe’ to identify funds that meet certain minimum requirements. These may include, without limitation, factors such as a fund house’s financial background, governance, risk management and product capabilities, a fund’s risk and return, track record and other risks. All funds included in the pool of funds we select from are authorised by the Securities and Futures Commission (SFC) and classified as ‘non-complex products’ under the prevailing “Guidelines on Online Distribution and Advisory Platforms” published by the SFC.

2. Implementing a scoring mechanism to rank the funds according to multiple factors, such as return, risk and relative performance against benchmarks within their respective asset class ‘universes’.

3. Applying a qualitative assessment overlay, which may include, without limitation, evaluating factors such as investment management stability, fund house distribution support and diversification, to help ensure high quality funds and fund managers are selected.

Mox adopts measures designed to ensure our recommendations are reasonably suitable having regard to the information you provide during your onboarding to Mox Invest and in the risk assessment for our Core Portfolio product, as may be updated by you from time to time.

Your risk boundary is calculated based on the information you provide, and represents the maximum percentage loss you are prepared to accept in your investment in a given year. Your risk boundary is then applied to identify a Core Portfolio with a corresponding risk budget. Such a portfolio will have an asset mix, determined as at the time of our recommendation, targeted at ensuring that in a rolling 12 months the maximum loss of investment (or ‘drawdown’) is within your risk boundary percentage. The maximum drawdown is calculated at a ‘95% confidence level’, a statistical measure.

You will only be recommended (and can only subscribe for) a portfolio which has a risk budget equal (or nearest) to, and lower than, your risk boundary. While the underlying funds of the recommended portfolio may have different risk characteristics, the risk budget of the overall portfolio should be within your risk boundary.

Mox will perform a daily review of the value of your portfolio and propose rebalancing actions where we determine the risk level of your portfolio may exceed your risk boundary. A rebalancing action, however, will only be taken after we receive an instruction from you.

Mox recommends the funds and their respective allocation in the Core Portfolios. You cannot choose the fund(s) to buy or sell in your Portfolio. If you want to partially sell your Portfolio positions, you can specify the amount to sell and Mox will proportionally sell the funds in your Portfolio based on the latest mix.

No, there is a chance that the Core Portfolio may exceed your risk boundary. Actual performance of the underlying funds may differ from projections. Please note that Core Portfolio is not a capital protected investment product.

No. If you change your response to the risk assessment question(s), we will update your risk boundary accordingly, then use your new risk boundary as well as the latest market conditions as the basis for recommending a revised Core Portfolio mix to you. If your risk boundary changes, you will not be able to buy (subscribe for) the same Core Portfolio before such change.

The projected returns are based on running a statistical simulation called a Monte Carlo simulation. This simulation generates a series of potential future returns and produces a range of potential outcomes, from conservative to more aggressive. Specifically, we look at the 25th, 50th and 75th percentile of the simulated returns, and interpret them as ‘pessimistic’, ‘base’ and ‘optimistic’ scenarios respectively.


These projections are provided for illustrative purposes only and are subject to certain assumptions (which may or may not hold true). They do not constitute actual investment performance forecasts for a Portfolio or any Fund(s) within it, and are not guarantees of future returns or results.

For stocks, you will receive an email, push notification and/or SMS from Mox if a corporate action will affect the holdings in your account.

For funds, if there is important corporate action, you will receive an email, push notification or SMS from Mox.

Currently Mox does not support proxy voting for HK and US shares.

You can respond to certain corporate actions elections for HK and US shares via Mox app after receiving notification from us.

Currently, Mox does not support the conversion between US and HK equities.

Mox currently does not support deposit of securities.

Customers may request to transfer stocks (except fractional shares) from Mox to your designated broker/bank account via Mox app.

Currently, Mox does not support physical stock certificate deposit or withdrawal.

Mox currently supports stock transfer out for the same account holder only. You cannot transfer stock to others' Mox Invest Accounts or others' accounts at other banks or brokers.

Mox currently does not support deposit or withdrawal of funds.

Mox currently does not support transfer of funds to other broker/bank accounts.