Rakuten Securities HK Sets to Implement Dormancy Fees

Fazzaco learned that Rakuten Securities Hong Kong Ltd., a wholly owned subsidiary of Rakuten Securities, Inc., has informed its clients of introducing administrative fees for inactive accounts with effective from January 1, 2022.

According to the official press release, if the trading account does not conduct any trading activities for 12 consecutive months, an annual administrative fee will be charged.

The fee will be equal to the lesser of HKD 200 for accounts denominated in HKD (USD 25 for accounts denominated in USD) or the remaining balance in your account. If you are assessed the fee and client's account balance becomes zero and maintains the zero balance for six consecutive months, your account will automatically be closed.

​As Fazzaco reported earlier, Rakuten Securities HK has terminated its services to provide Trading Station II​ (TSII) in May this year.