Rakuten Securities HK to impose fees on dormant accounts

Online broker Rakuten Securities Hong Kong will introduce administrative fees for inactive accounts, the company said in a notice to its clients.

Starting from January 1, 2022, 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.

Rakuten Securities Hong Kong Limited (RSHK) is a subsidiary of Rakuten Securities, Inc, which is one of largest forex brokers in the world and a pioneer in leveraged foreign exchange trading in Hong Kong. Its Rakuten FX trading platform is also popular in Japan.