BOOM

A Brief Summary of BOOM Broker

BOOM is a brokerage firm located in Asia, which holds the distinction of being the very first licensed online brokerage in Asia. BOOM allows investors to gain access to global markets with one trading account that utilizes state-of-the-art technology. Since being incorporated in 1997 and establishing its HQ in Hong Kong, BOOM has garnered 25 years of experience in the industry and has serviced private clients in over 90 countries. With BOOM’s combination of regulations, multi-market reach and cutting-edge trading technology, it supports new and well-experienced traders.

BOOM provides a Multi-Currency Wallet, Margin Financing and allows investors to have access to 18 Global Markets, thereby, it positions itself as a complete solution for an international Portfolio Diversification

Background and Trust of the Company

BOOM is the original online brokerage firm in Asia and began operating in 1997. BOOM has a long-term track history of compliance with regulators and continued operational stability. BOOM is also Independent from any financial institution, is audited by KPMG, which provides a measure of reassurance of transparency and financial integrity.

BOOM is also an official participant of the Hong Kong Stock Exchange and client’s funds are kept segregated within Hong Kong Banks and Exchange Custodians.

Access to Global Markets through Multiple Trading Instruments

BOOM offers more than 50,000 combined stocks and ETF’s from 18 major global markets including the USA, Hong Kong, China, Japan and Europe. With a wider overall reach in the market, it allows for Efficient Diversification Globally.Instruments Supported

Types of Instruments Supported

Listed Stock

Exchange-Traded Funds (ETF)

Futures

Margin Trading Using Collateral in the 5 Major Markets of your Choice

Convenience of Multi-Currency Wallets + FX

The BOOM Global Wallet can hold 10 different currencies and handle automatic currency conversions and deposit/withdrawal to/from any bank in Asia using HKG banking. BOOM's global multi-currency wallet provides you with automatic deposit/withdrawal facilities and makes it easier to conduct trading across all borders without having to manage your currency exchange rate manually. You can have a global view of your portfolio from anywhere, at any time.

BOOM Global Wallet - 10 Currency Types: HKD/USD/RMB/JPY/SGD/AUD/EUR/CHF/GBP/CAD

Technology and Security of the Platform

The BOOM platform is a proprietary platform operated on desktop and mobile devices. Designed for fast trade execution, ease of use and security, the BOOM trading platform provides its customers with many advantages and tools, including:

- 2-Step Verification (2FA) for additional security

- 256-Bit Secure Encryption (SHA)

- Instant global execution of trades

- Either one or both of the following features may be combined to create a multi-currency wallet (account) that has the ability to handle fx (forex).

- Access to a global network of margin trading activities

The technological environment displayed via BOOM's platform is conducive to secure, fast and effective trading wherever you want - when you want.

Regulatory and License Overview

The Securities and Futures Commission (SFC) in Hongkong has fully licensed BOOM and regulated BOOM since it was first established, in fact, BOOM has obtained a total of three licenses from SFC since 1997:

Regulator / License Type / Status

Securities and Futures Commission (SFC, Hongkong) - Type 1 (Dealing in Securities) / Licensed since 1997

Securities and Futures Commission (SFC, Hongkong) - Type 2 (Dealing in Futures Contracts) / Licensed since 1997

Securities and Futures Commission (SFC, Hongkong) - Type 7 (Providing Automated Trading Services) / Licensed since 1997

BOOM's Trading Conditions

Trading conditions of BOOM are transparent and competitive on an international basis.The following sections provide a summary of BOOM’s Trading Conditions:

Market Commission:

 

BOOM charges the following commissions based on the market you are trading in:

Hong Kong Market: 0.18 percent (with a minimum of HKD 88/RMB 88/USD 12)

U.S. Market: USD 20 per order (basic)

Global Market: commissions range from 0.25 percent

Leverage: BOOM provides margin financing against listed securities from five (5) different markets.

Minimum Deposit Amount: HKD ten (10) thousand

Fee Structure:

There are some fees that may change, however, BOOM maintains a sufficiently clear and reasonable fee structure.

Fee Types:

Deposit Fees: not specifically quoted; instant deposits through Hong Kong banks, FPS or PPS.

Withdrawal Fees: do not appear to be quoted; however, users may request an online withdrawal without a signature after pre-registration has been completed.

Commission on trades: Hong Kong -- 0.18 percent (with a minimum of HKD 88/RMB 88/USD 12); U.S. - USD 20 per trade; Global - 0.25 percent.

Other Charges: depository, nominee and/or account operational fees may apply.

Inactive Account Fees: this is unclear.

User Experience and Reputation:

Opening an account with BOOM is a simple process, and users have described it as taking roughly ten (10) minutes to complete. BOOM places significant importance on ease of use, speed and security; the platform is intended for both new and experienced traders. BOOM reports that customer support is available 24 hours a day, 7 days a week, and that customers can reach out to customer support representatives during the standard Hong Kong work week.

Although there are no readily available public reviews of BOOM, the company has a long history of operating as an online brokerage and has a strong reputation as a credible market participant due to its regulatory compliance, audits from KPMG and longevity within the industry.

Latest Developments:

As of January 2024, BOOM has not publicly released any recent material changes to its platform or introduced any new initiatives. BOOM appears to be providing its users with stable, ongoing services with stable infrastructure.

Conclusion:

In conclusion, BOOM is an established and highly-regulated online brokerage with an exceptionally strong global market presence, providing its customers access to numerous currencies. The company is an ideal choice for any investor seeking to diversify their investments worldwide from one (1) account due to its over 25 years of experience and its established regulatory compliance history across 18 different international markets.

Although some information regarding BOOM's fee schedule may be lacking, the company's transparency, safety and institutional-level regulation makes BOOM a viable choice for traders and investors who wish to trade in the global financial markets with peace of mind.