Mox Invest: Standard Chartered’s HK-based Mox Bank launches fractional trading platform
Mox Invest allows customers to easily trade Hong Kong equities and create U.S. stock equity portfolios, including through U.S. fractional securities trading. Additionally, Mox Invest allows customers to earn interest on their idle funds.
Mox Bank Limited, known as “Mox,” has officially launched Mox Invest to address the needs of clients in the digital wealth management space.
This launch marks Mox as the first virtual bank in Hong Kong to offer a comprehensive trading service. Mox Invest caters to trading in both U.S. and Hong Kong equities, as well as a specialized fund. The service is being gradually rolled out to existing customers by invitation.
Mox Invest for HK and US equities, interest on idle funds
Mox Invest builds on the user-friendly design that has been a hallmark of the Mox app. It allows customers to easily trade Hong Kong equities and create U.S. stock equity portfolios, including through U.S. fractional securities trading, directly within the app. The firm claims the introduction of U.S. fractional securities trading by Mox is a first for any bank in Hong Kong.
Additionally, Mox Invest allows customers to earn interest on their idle funds. This feature provides an opportunity for customers to grow their wealth while they plan their investment moves.
Mox’s partnership with Allianz Global Investors Asia Pacific Limited (AllianzGI) adds another layer to the Mox Invest service. This collaboration brings an exclusive fund to Mox customers, with a remarkably low minimum investment threshold of just HKD1.
The fund, available only through the Mox app, offers customers a chance to explore fund investment with the added assurance of risk management performed by AllianzGI. This collaboration is a strategic move to enhance the investment options available to Mox customers, providing them with a diverse and accessible investment platform.
Mox Bank was launched by Standard Chartered in 2020
Mox Bank, also known as Mox, is a virtual bank that is majority-owned by Standard Chartered Bank (Hong Kong) Limited. It was established as a joint venture between Standard Chartered Hong Kong, Hong Kong Telecom (HKT), PCCW, and Trip.com Group.
Mox Bank is a licensed bank registered under the Hong Kong Banking Ordinance and was launched in Hong Kong in September 2020. This venture represents a collaboration of significant players in banking, telecommunications, and online travel, marking a significant step in the digital banking sector in Hong Kong.
Barbaros Uygun, CEO of Mox Bank, highlighted that Mox Invest is an extension of Mox’s acclaimed user experience and convenience. “With Mox Invest, we are bringing our award-winning user experience and convenience to the wealth management sector. The smarter investment service offers our customers an easier route to start their investment journey.”