First method: online application
First, click "Open Account" on the main menu, the "Account Opening Form" displays. After filling the form, you will receive an email from I-Access containing the detailed account opening procedure.

Second method: application in person
You can bring your identity card/passport, and address proof (within 3 months) to I-Access client services department to open an account.

Upon completing the account opening procedure, you will receive an email with the account number. Then, you can click the "Get Pwd" button of the "LOGON" form, and fill in the necessary information. You will receive an email with a password. You can login to ISSNet to trade using the account number and password.

Investors who can earn money from the stock market must be savvy, and such investors must compare different choices before making decisions. If the transaction costs constitute a substantial proportion of your gross investment profit (or result in a net loss), you should think about a more economical way to trade.

If you have the above thought, and when you know that I-Access is providing zero commission for Hong Kong securities trading, after working out the amount of commission you could have saved, you should realize the need to open an account at I-Access.

There is no rule to forbid opening more than one securities account, same as the fact that you can have more than one bank account. You can use I-Access account to save transaction costs to earn much more.

To new investors, preserving your capital is one important determinant because initial investment loss may have a negative effect on your future investment attitude.

Transaction costs are one big enemy of capital preservation. Before you can pocket your investment profit, you have to pay a double amount of transactions costs as you have to pay the charges in both the purchase and sale transactions.

The zero commission of I-Access helps you preserve your capital, and increase the chance of profitability, so as to pave your investment path.

You may view the Client Agreement by clicking the item at the page footer.

First, I-Access clients can check your account balance, securities portfolio, and open positions online. When I-Access clients complete a deal, deposit or withdraw fund or stock, the contract notes and statement will be delivered by email at next dawn for your verification. All deposits transfers by I-Access clients goes directly, without involving any third party, to the trust account of I-Access.  Withdrawal by I-Access client is paid to the registered bank account of the corresponding client.

As I-Access is a licensed corporation, I-Access clients are protected by the investor compensation fund. The maximum protected amount for each I-Access client for his/her securities account is HK$500,000 and the same for the futures account. Therefore, each I-Access client can have a maximum total compensation of HK$1,000,000.

I-Access account is a consolidated account, so clients can trade securities, futures and options in one account.

The benefits of a consolidated account are as follows:

1.	Clients need not open different accounts for different financial products to save the burden of account opening procedure;
2.	In a consolidated account, the account fund can be used to trade different financial products without the need for fund transfer between different accounts;
3.	The statement of a consolidated account lists all invested financial products together for clients to manage their wealth more easily;
4.	The securities in the consolidated account can be used as collateral for loans and margin of derivatives.

When you receive the account code and password, you can logon to ISSNet to experience the investment services provided by I-Access.

Nevertheless, if you want to trade, you have to deposit sufficient fund beforehand. You can start trading securities, futures or options when the fund is cleared.

Except for online application by mail as required by the SFC that a ten-thousand-dollar cheque is used to verify identity, it is not necessary to deposit any money if you apply for new account in person at I-Access customer services department.

Open an account does not need any expenses.

I-Access account has no custodian fee, monthly or annual maintenance fee.

Even there is no fund or securities in the account, I-Access will not collect any fees.

Yes.

A non-HK resident client needs to bring the following document or supply the following information:

1.	Home address proof,
2.	Passport, and
3.	A HK$ bank account at Hong Kong.

If you cannot receive the account opening email, it may be due to:

1.	Nonexistence of email address You have to fill in the account opening form again. Making sure that the email address is correct, you will receive the account opening email.
2.	The account opening email in the junk mailbox Certain email management software and Internet email providers filter emails, and treat emails from new senders as spams. Therefore, users must set emails from i-access.com as a trusted source, or else, you have to get the account opening email from your junk mailbox.

If you still cannot receive the account opening email after a few minutes, please contact our Client Services Department.

I-Access does not set any conditions like minimum deposit, minimum trade amount, or minimum number of orders, so all clients enjoy the zero commission.

In addition, I-Access does not have any limits on the trade amount or number of orders, so all Hong Kong securities transactions are free of commission.

ISSNet adopts the self-service mode for clients to trade by themselves. Therefore, all expenses for middlemen, such as client agents and system vendors, are eliminated. Electronic statements are used to reduce the amount of paper, printing, and postage. Thereby, the charges can be lowered.

Currently, I-Access has thousands of clients, processing over 30 thousand orders every day, which are sufficient to cover its operating costs.

Different from the short-term incentives offered by other securities houses or banks, the zero commission of I-Access is a permanent policy.

Even when other securities houses or banks are offering short-term incentives such as free commission, the total sum of charges may be much higher than those collected by I-Access. Furthermore, when the period of incentives expires, their clients have to face the higher commission rate again.

I-Access does not collect any monthly or annual fee, or custodian fee.

Even when there is no fund or securities at the account, the client need not pay any maintenance fee.

You may view the fee table by clicking the item at the page footer.

First method: mobile app
Download "I-Access Authenticator" app from App Store or Android Market. Android-phone users can also download the app from the following link:
Download Android "I-Access Authenticator"

Second method: Authentication Card
Get the Authentication Card at logon to search the digits shown on the card by the co-ordinates provided.

Third method: executable program
Download the installation program and "I-Access Authenticator" from the following links:
Microsoft Windows:
Download the installation program
Download "I-Access Authenticator" program
Apple Mac:
Download "I-Access Authenticator" program

Dual-factor authentication is a security measure required by Hong Kong SFC for all online brokers, in order to reduce the hacking risk of investment accounts. Thereby, client must satisfy the dual-factor authentication when you use I-Access online investment services.

Under dual-factor authentication, client must input correct account number, password and authentication code. If the account number or password is wrong, logon into I-Access system is not allowed though the authentication code is correct; in such circumstance, client can try to logon again.

If client is certain that account number, password and authentication code are all correct but still cannot logon into I-Access system, you should contact our client service.

If client input wrong setup data into the mobile app or executable program, you should delete the app or program and re-download it again to setup data again.

The effective period of an authentication code is very short, but long enough for logon at ordinary speed. Outdated authentication code cannot be used for logon, and client has to get the code again.

No installation is required for ISSNet. It can be operated in ordinary web browsers.

When client logons to ISSNet, click the "order" icon, and the quotation window will open. Entering the securities code and pressing "Buy" or "Sell" button, you can input the needed information to place a limit order.

If you want to place a market order, press "Market Buy" or "Market Sell" button instead.

A securities order can have the quantity range from one board lot to 3,000 board lots.

Of course, if client has limited account balance, the maximum quantity is the maximum number of board lots (if less than 3,000 board lots) that can be purchased using the fund in the account. For sell orders, the maximum quantity is the number held (if less than 3,000 board lots) by the client.

As I-Access is very concerned with client risk management, all clients must deposit sufficient fund by cheque at our counter, any acceptable deposit at banks to I-Access accounts before securities purchase.

If deposit is made by cheque, the treatment is based on the following situations:

1.	If the cleared securities portfolio value is not less than the cheque amount, and the cheque deposit is not over HK$100,000, client can place orders at once;
2.	In other cases, cheques deposited before the cutoff time can be used for trading at 4pm on the next trading day; cheques deposited after the cutoff time can be used for trading at 4pm on the trading day following the next trading day.

The sale proceeds from the sale of securities can be used immediately for purchase. Clients need not wait until the settlement date.

The policy to allow buying right after selling gives more flexibility to clients to utilize their fund.

The securities purchased by I-Access clients through ISSNet can be sold immediately. Even the purchase order has only been partially matched, the securities already purchased can be sold.

The policy to allow selling right after buying gives more flexibility to clients to utilize their fund.

ISSNet allows clients to enter next-day order instruction after market close. At market open on the next trading day, ISSNet will automatically place the order to the market.

ISSNet provides 24-hour trading services. Clients can still manage your orders on weekends and public holidays.

Clients can trade securities at market price during continuous trading session. By clicking the "Market Buy" or "Market Sell" button, clients can place a market order.

Market orders do not require the entry of price, and allow clients to buy or sell within 10 price spreads from and including the best price. However, if the quantity queuing at the market is less than the demanded, the unmatched portion of the order is automatically cancelled.

In addition, if a security has very low turnover, no bid or ask order queuing in its market, or a wide bid-ask spread, the market order buttons may not be displayed, i.e. clients have to use limit orders to trade the security.

When securities are bought or held, you can set a stop-loss order.

Click the "S" button in the portfolio window to enter the stop-loss order for the securities. You may choose stop limit order or stop market order.

Securities under the stop-loss order cannot be sold again. If you want to sell the securities, you have to first cancel the stop-loss order.

Clients must beware that stop-loss order is a conditional order, which may be incomplete if the stop price is not triggered, or the market is very volatile when the condition is triggered. In such cases, if clients want to sell the securities, you have to enter a sell order again.

Securities trading statistics are compiled based on the summary of client trades for the day. The buying cost is the average cost of the gross amount with transaction costs; the selling net is the average net price of the net amount after transaction costs. The calculation of the difference depends on the bought and sold quantities:

1.	If bought quantity = sold quantity (difference is the day profit or loss) Difference = Sold amount - Bought amount (Base difference)
2.	If bought quantity > sold quantity (difference is the floating profit or loss) Difference = Base difference + (Bought quantity - Sold quantity) X Market price
3.	If bought quantity < sold quantity (difference is the day value added/lost) Difference = Base difference + (Sold quantity - Bought quantity) X Prev. close

All accounts for I-Access investment products or services are included after the account opening process. Client needs only to choose "add a/c" in the "account" function, and press the "Margin AC", you will receive the related email. Send back the filled documents to I-Access, and your Margin Account will be activated.

Both Margin Account and Cash Account of I-Access can be used at the same time. Therefore, when Margin Account is activated, client possesses two independent securities trading accounts. Transactions in one account will not affect those in the other.

Client may transfer fund from Cash Account to Margin Account by using the transfer button in the "Account" function.

Withdrawal is not allowed for Margin Account, but excess fund may be transferred to Cash Account.

Client may transfer settled stock from Cash Account to Margin Account by using the transfer button in the "Portfolio" window.

As long as the debit balance at Margin Account is less than the marginable value, client may transfer settled stock out of Margin Account to Cash Account.

The amount of debit balance at Margin Account for the purpose of interest calculation is based on the daily statement balance on the statement date. Interest rate is HSBC prime rate (P) plus 2%. Nevertheless, if the debit balance amount exceeds the marginable value of the portfolio value at Margin Account on the daily statement balance on the statement date, the exceeding amount will be charged at HSBC prime rate plus 5% for interest. For example, if the debit balance at Margin Account is $100,000, and the marginable value of the portfolio at Margin Account is $80,000, the interest rate for the first $80,000 is P+2%, and that for the remaining $20,000 is P+5%. Accrued interest will be debited from the account at month end.

To buy stock with margin rate at Margin Account, a gearing ratio of multiple times is enjoyed. This allows small investors to buy quality stock, and increases the number of stocks they can invest, so as to achieve diversification. To others, margin trading may purchase a larger quantity, enhancing the dividend yield. The leverage effect also magnifies trading profits - a small amount of investment fund may result in a big trunk of return.

Moreover, the marginable value of Margin Account may be used for buying other securities, so that clients need not sell any holdings to have sufficient credit for trading.

In any cases, if the debit balance at Margin Account exceeds the unconditional force sale level (based on margin rate plus 20% but not exceeding 95%), I-Access may force sell the stock at Margin Account until the debit balance is below the marginable value of the remaining stocks.

After market close, if the debit balance at Margin Account exceeds the marginable value, I-Access will send the margin call notice to the concerned client by email. If in the morning session of the following trading day, the debit balance exceeds the upper limit of marginable value (based on margin rate plus 10% but not exceeding 90%), or in the afternoon session, the debit balance still exceeds the marginable value, force sale will be automatically executed until the debit balance is below the marginable value of the remaining stocks.

According to the 'Guidelines for Securities Margin Financing Activities', I-Access has to monitor securities collateral concentration risk. So, if a client holds only one or two marginable stocks at Margin Account, or the margin portfolio is dominated by a single stock, the margin rate will be adjusted downward.

When client activates Margin Account, Power Account is also activated.

Power Account is used for day trading. First, transfer fund from Cash Account to Power Account. For every $1 deposited, there will be $10 added to the credit limit. Power Account can only purchase power trading securities. Choose either session order or day order in the morning session. Stock purchased by session order must be sold in the morning session, or be sold automatically by I-Access during the last 5 minutes of the morning session. Stock purchased by day order may be sold in the morning or afternoon. Unsold quantity will be auto-sold in the last 5 minutes of the continuous trading session. After market close, the residual fund at Power Account will be automatically transferred to Cash Account.

If the loss of the portfolio at Power Account already exceeds half of the deposited fund, force sale is triggered. All securities at Power Account are sold at market prices. When only cash remains at the account, the credit limit will be recalculated, and then client may use Power Account to trade again.

Power Account provides leverage as high as 11x. Even though the target stock has small price volatility, power trading can still profit hugely. The auto-sale mechanism of Power Account prevents clients from facing overnight market risk. No interest is charged for trading at Power Account, further reducing transaction cost.

For reasons like suspension of trading or insufficient bid orders at market may result in unsold quantity left at Power Account during mid-day recess (in case of morning session orders) or at market close. For the former case, the unsold quantity will be transferred to day order portfolio, and client may sell it yourself, or wait for auto-sale at close of the continuous trading session. For the unsold stock at market close, it will be transferred to Margin Account, and client has to handle it yourself.

All I-Access clients can participate in Shanghai A-share market through Shanghai-Hong Kong Stock Connect, and Shenzhen A-share market through Shenzhen-Hong Kong Stock Connect. Just logon into ISSNet or ISSNet Mobile, and clients can trade selected Shanghai or Shenzhen A shares directly.

In general, the following are the differences between trading in Hong Kong stocks and Mainland A shares:

1.	Hong Kong stocks are transacted mainly in HK$, while all Mainland A shares in RMB;
2.	Day trading is allowed in Hong Kong market, but Mainland A shares can be sold only on or after the following trading day of the purchase day;
3.	All HKEx-listed shares can be traded, but only selected Mainland A shares can be traded through Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect Northbound trading;
4.	There is no trading in Hong Kong stocks and Mainland A shares on Hong Kong public holidays. Mainland A shares are also not traded on Mainland public holidays, and on days when settlement day of A-share trades is also a Hong Kong public holiday;
5.	Transaction costs of trading in Hong Kong stocks and Mainland A shares are totally different. Refer to "Fee table" for details;
6.	Trading hours of Hong Kong stocks and Mainland A shares are not completely the same. Refer to "Investment" section for details;
7.	Hong Kong stock trading is regulated by Hong Kong law and HKEx regulations, and trading in Mainland A shares is further regulated by Mainland securities laws and Shanghai Stock Exchange and Shenzhen Stock Exchange rules;
8.	There is a daily trading quota for Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect - if the net purchase amount reaches the daily quota, no new buy orders are accepted;
9.	Odd lots of Hong Kong stocks are traded in a separate market, but Mainland A share odd lots can be sold at the ordinary market;
10.	Mainland A share market has circuit breaker mechanism limiting day changes in share prices within 10%. Hong Kong stock market has no such mechanism;
11.	Mainland A shares are all scripless, with no physical share certificates. Hong Kong stocks are still represented by share certificates;
12.	Bid-ask spread of Mainland A shares is always RMB0.01 for all prices, while that of Hong Kong stocks varies with share price - the higher the share price, the wider the spread.

I-Access clients can deposit RMB for Shanghai or Shenzhen A share trading, or use ISSNet's "exchange" function to convert HK$ in I-Access investment account to RMB.

Commission rate charged by I-Access for Mainland A share trading is flat HK$5 per order. No depository fee is charged for Mainland A shares held at I-Access. These reduce transaction costs and increase investment returns.

I-Access clients may buy or sell Mainland A shares at market prices without the need to input any order prices to capture market opportunities swiftly.

I-Access provides H/A share dual trading function to allow clients to watch real-time H and A share prices at either HK$ or RMB. This facilitates direct comparison of the prices of the H and A shares of the same company.

I-Access also provides special order services for Mainland A shares to help clients to set stop loss, stop gain or price-tracking orders.

I-Access provides online RMB exchange service. Clients may exchange for the required RMB amounts for Mainland A share trading any time during trading session with no limits on times and amounts.

ISSNet is open for 24 hours to accept order placement instructions. Next-day orders can be input right after market close of Mainland A shares.

I-Access online futures trading has the following differences:

1.	Lowest commission - HK$5/contract (active clients HK$2/contract or even zero commission);
2.	Fastest execution - orders are placed within 1 second;
3.	Market order - by choosing "Market Buy" or "Market Sell" to complete a deal within 1 second;
4.	All-in-1 account - no need for transfer between securities account and futures account to increase flexibility;
5.	Cash credit - Cash account credit can be used for margin collateral for futures trading;
6.	Auto-close - open positions of session, day or tonight trades will be auto-closed to reduce market risk;
7.	Mobile trading - as the first broker to introduce mobile platform, futures trading can be done anytime anywhere;
8.	Instant clearing - realized profit can be withdrawn immediately.

Before entering a futures order, click the "F" button in the "Order" window, and input the following code for the futures contract:

HSI futures	780 or HSI
Mini-HSI futures	781 or MHI
H-share index futures	782 or HHI
Mini-H-share index futures	783 or MCH
Stock futures	the relevant stock code

Then press the month button and the futures contract information will be shown.

The minimum futures margin is based on the initial margin requirement by the relevant futures exchange and will be deducted from the client account. Depending on the circumstances, I-Access may collect the margin higher than the required level.

For "Session Trading", "Day Trading", "Tonight Trading" and "Dawn Trading" introduced by I-Access, client may apply for futures margin financing provided by I-Access Finance Limited to pay part of the margin collateral. "Session Trading" futures margin requires 25% of the required margin to be client's own cash, and the rest can be borrowed from I-Access Finance Limited. "Day Trading" futures margin requires 50% of the required to be client's own cash in the morning session, and reduced to 25% in the afternoon session. "Tonight Trading" and "Dawn Trading" futures margin requires one third of the required margin to be client's own cash.

"Session Trading" means the position is opened in the morning session, and will be closed in the same morning session. If the position is not closed by client, I-Access will close the position for the client at 5 minutes before session closes.

"Day Trading" means the position is opened in the morning or afternoon session, and will be closed in the same day. If the position is not closed by client, I-Access will close the position for the client at 5 minutes before market closes.

"Tonight Trading" means the position is opened during night session, and closed in the same night. If the position is not closed by client before midnight, I-Access will close the position for the client at or after 11:45 p.m. As the night market has volatility control of 5%, if market price changes over 3%, auto-close will be initiated earlier to avoid more difficult closure later; tonight trading will not be resumed even though the market stabilizes for the night.

"Dawn Trading" means the position is opened after midnight, and closed in the same dawn. If the position is not closed by client before close of night session, I-Access will close the position for the client at or after 2:45 a.m. As the night market has volatility control of 5%, if market price changes over 3%, auto-close will be initiated earlier to avoid more difficult closure later; tonight trading will not be resumed even though the market stabilizes for the night.

"Overnight Trading" means the position can be closed any time by client.

If client has session, day, tonight and/or overnight positions, and I-Access has to close the session, day or tonight position for the client, the position will be closed against other positions first before auto-close is executed if there is still net position.

When the floating loss of the open position of a client exceeds 20% of the initial margin, I-Access will deduct from client account to maintain the margin collateral back to the level of initial margin. If the account fund is less than the called amount, I-Access will deduct all the account balance to the futures margin account.

When the cash balance falls to zero or below, and the floating loss of the open position exceeds 60% of the initial margin, I-Access will force close the position based on the market condition.

At close of the futures market, if the floating loss of the open position exceeds 20% of the initial margin, I-Access will send a margin call email to the relevant client. If the client does not deposit sufficient fund before 1pm on the following trading day, and the derivatives account fund falls below 70% of the initial margin in the morning session, or 100% in the afternoon session, I-Access will force close the position based on the market condition.

Open positions under "Session Trading" will be closed by I-Access at 5 minutes before close of morning session. Open positions under "Day Trading" will be closed by I-Access at 5 minutes before market closes. Open positions under "Tonight Trading" and "Dawn Trading" will be closed by I-Access at or after 11:45 p.m. and 2:45 a.m. respectively. However, if the difference between spot month futures nominal price (on expiry day the next month futures nominal price) and the day close price is over 3%, auto-closure for "Tonight Trading" or "Dawn Trading" open positions will be initiated.

When the cash balance falls to zero or below, and the floating loss of the open position exceeds 60% of the initial margin, I-Access will force close the position based on the market condition. If a client received a margin call email but does not deposit sufficient fund, and the derivatives account fund falls below 70% of the initial margin in the night session, or in the morning session of the following trading day, or 100% in the afternoon session of the following trading day, I-Access will force close the position based on the market condition. To prevent auto-close, clients should close your positions at the right time.

If the market has to close earlier due to typhoon, I-Access will auto-close all open positions under "Session Trading" and "Day Trading", or "Tonight Trading", or "Dawn Trading" when signal number 8 is hoisted.

Client may set the close conditions at order placement or in the order book to set or modify the close conditions. There are 4 choices of close conditions:

1.	Basic stop-loss - stop price is fixed;
2.	Trailing stop-loss - stop price is changing with the market;
3.	Stop gain - stop gain order is launched when the order is fully matched;
4.	Stop gain stop loss - a combination of stop gain and basic stop-loss.

Stop gain order is placed to the market once the order is fully matched:
Stop gain selling price of buy order = Average trade price + Gain
Stop gain buying price of sell order = Average trade price - Gain

For stop gain stop loss, when the stop loss condition is triggered, the stop gain order will be automatically changed to the stop loss order.

ISSNet offers 2 types of stop-loss conditions:

1.	Basic stop-loss - stop price is fixed;
2.	Trailing stop-loss - stop price is changing with the market.

Stop-loss conditions include "trigger" and "tolerance".

Stop-loss conditions will only be effective when the order is completed. When the stop-loss conditions are effected:
Stop price of buy order = Average trade price - Trigger
Stop price of sell order = Average trade price + Trigger

If trailing stop-loss is set, during the stop-loss conditions are effected:
Market price > average trade price, stop price of buy order = Market price - trigger
Market price < average trade price, stop price of sell order = Market price + trigger

When nominal price is equal to or lower (higher) than the stop price of buy (sell) order, the stop condition is triggered. ISSNet will auto-close the position. The quantity to be closed depends on the number of open position at the time of trigger.

If the "tolerance" is set to be market, the stop order will be placed at market price.

If the "tolerance" is a figure, the stop order will be placed at limit price calculated as follows:
Stop limit (sell) price for buy order = Stop price - Tolerance
Stop limit (buy) price for sell order = Stop price + Tolerance

If market is fast, stop limit order may not be executed completely. Unfinished part of the stop order will be queued at market.

Futures trading statistics are compiled based on the summary of client trades for the day. The buying average is the average purchase price before transaction costs; the selling average is the average sale price before transaction costs.

The calculation of the difference depends on the bought and sold quantities:

1.	If bought quantity = sold quantity (difference is the day net profit or loss) Difference = (Sell average - Buy average) X Multiplier - Total costs
2.	If bought quantity > sold quantity (difference is the floating profit or loss) Difference = [(Sell average - Buy average) + (Buy Qty - Sell Qty) X Market price] X Multiplier - Total costs
3.	If bought quantity < sold quantity (difference is the floating profit or loss) Difference = [(Sell average - Buy average) - (Sell Qty - Buy Qty) X Market price] X Multiplier - Total costs

For clients to buy options, you only have to pay the option premium and no margin is collected.

If you short covered call (with the corresponding stock as collateral), no margin is collected. Option premium can be used as cash.

If you have short index options or naked stock options in your portfolio, your account will be deducted the SPAN margin or more. When you short uncovered stock options, the exchange will also collect option market value, and the premium received and floating profit/loss, if any, from short positions will be used as mark-to-market margin collected.

Premium paid and floating profit, if any, from long stock option positions cannot be used for margin payment.

If you also have futures open position, the minimum margin is the maximum of the futures short position and futures long position times the futures margin per contract.

When the floating loss of the open position of a client exceeds 20% of the initial margin, I-Access will deduct from client account to maintain the margin collateral back to the level of initial margin. If the account fund is less than the called amount, I-Access will deduct all the account balance to the futures margin account.

When the cash balance falls to zero or below, and the floating loss of the open position exceeds 60% of the initial margin, I-Access will force close the position based on the market condition.

At close of the option day or night market, if the floating loss of the open position exceeds 20% of the initial margin, I-Access will send a margin call email to the relevant client. If the client does not deposit sufficient fund on time, and the derivatives account fund falls below 70% of the initial margin in the night or morning session, or 100% in the afternoon session, I-Access will force close the position based on the market condition.

When the cash balance falls to zero or below, and the floating loss of the open position exceeds 60% of the initial margin, I-Access will force close the position based on the market condition.

If a client received a margin call email, but insufficient fund is deposited, and the derivatives account fund falls below 70% of the initial margin in the night or morning session, or 100% in the afternoon session, I-Access will force close the position based on the market condition.

To prevent auto-close, clients should close your positions at the right time.

Only in-the-money options will be exercised. Option buyers can exercise; option sellers only wait for assignment.

As index options are European style, they can only be exercised on the expiry day. As the exercise is cash settled, all in-the-money options are automatically exercised, and option holders need not choose to exercise or not.

Stock options are American style, so buyers can exercise their options after purchase up to the expiry day. Exercise is scrip settled - call buyer will receive stock while put buyer will receive cash after stock delivery. If in-the-money options are not exercised, they will be auto-exercised if the intrinsic value is over 1.5% of stock price. If clients do not want to exercise their options, they have to notify I-Access using the registered email to stop the auto-exercise before 5pm on the expiry day. However, if a put holder does not have the shares on hand, I-Access will stop the auto-exercise.

Sellers of in-the-money options may be exercised or assigned. Due to the exercise risk, margin is collected to sell options.

Index options sold will be assigned automatically on the expiry day. The intrinsic value of the options is deducted from the margin and transferred to the buyers, and the remaining margin value is refunded.

For American-styled stock options, sellers of in-the-money options will be assigned any time up to the expiry day. As the exercise is scrip settled, call seller is required to deliver stock and put seller has to pay for the stock at the exercise price. Any unexercised in-the-money option will be auto-exercised if their intrinsic value is over 1.5% of stock price. Option sellers must prepare sufficient stock or fund to satisfy the exercise. Unexercised options will be cancelled after expiry day.

Only stock options which are American style can be early exercised. Early exercise loses the time value of the option, but option holders may have the following reasons to do that:

1.	Exercise before ex-date to get the stock to be entitled to dividend or other distributions. The value of the dividend and other distributions should be higher than the option time value;
2.	If the option is already deep in-the-money, and due to large bid-ask spread, the market bid is under the intrinsic value, or there are no market maker quotes, holders may exercise to realize the position or get the stock to sell.

As the exercise fee is relatively high, if possible, it is a better choice to sell the option in the market.

When you have completed a deal, deposit/withdraw fund or stock, apply for IPO, or receive the distribution from listed companies, you will receive the electronic consolidated statement at next dawn.

If you have the above activities, or the account balance has cash balance or deficit, or securities holding, or open positions, you will receive the electronic monthly statement within the first 3 trading day of the following month.

Electronic statements will be sent to the clients' email address. Clients can keep them for record.

Electronic statement is in the format of HTML. Clients may use ordinary Internet browser to view the statement.

Clients may also import the electronic statement to word processing software, like Word, or data processing software, like Excel, for preview or analysis.

If clients want to receive statements by mail, you have to paid additional charges. Please view our "Fee Table" for information.

If you cannot receive the I-Access electronic statement, you may check the junk mailbox to find it.

Certain email management software and Internet email providers filter emails, and treat emails from new senders as spams. Therefore, users must set emails from i-access.com as a trusted source, or else, you have to get the electronic statement from your junk mailbox.

If you still cannot receive the electronic statement, please contact our Client Services Department.

Client may use the following ways to deposit fund:

1.	Deposit cash, cheque or draft or transfer fund into the following bank accounts HK$ Deposit HSBC 004-400-821138-838 Bank of China 012-746-1-007849-7 Wing Hang Bank 035-809-777997-100 RMB Deposit Bank of China 012-746-92-03831-4 Wing Hang Bank 035-809-836848-060 US$ Deposit Bank of China 012-746-92-03831-4 Wing Hang Bank 035-809-680473-060 Cheque or draft should be made payable to "I-Access Investors Ltd". Client must fax, e-mail, mail or in person, provide the bank-in slip to I-Access, with the photo or copy of the cheque or draft deposited; if the deposit is done through internet banking service, client must e-mail the transfer confirmation screen to I-Access.
2.	Email e-cheque to info@i-access.com.
3.	Input any of the above bank accounts at FPS to transfer fund. Client must e-mail the transfer confirmation screen to I-Access. FPS ID: 6327555 or 9009200 Account name: I-Access Investors Ltd
4.	Deposit cheque or bank draft at an I-Access client services centre.
5.	Send cheque or bank draft by mail to GPO Box 9704.

The cutoff time of cheque deposit is 3pm. Cheque deposited thereafter will be processed on the next trading day.

Cheque deposited on Saturday will also be processed on the next trading day.

However, the electronic statement regarding the cheque deposit will be sent at next dawn.

If the deposit is made by cheque, the amount will be shown in the account immediately. When the deposit can be used for trading is based on the following situations:

1.	If the cleared securities portfolio value is not less than the cheque amount, and the cheque deposit is not over HK$100,000, client can place orders at once;
2.	In other cases, cheques deposited before the cutoff time can be used for trading at 4pm on the next trading day; cheques deposited after the cutoff time can be used for trading at 4pm on the trading day following the next trading day.

If the deposit rate set by I-Access is above 0%, the cash balance at client account will receive credit interest accrued daily. The accrued interest will be deposited to client account at I-Access at the end of each calendar month.

I-Access does not accept any form of third-party deposit.

When client deposits fund into I-Access, you have to ascertain that the fund is your own cash or from your own bank account. If I-Access discovers any deposit into an I-Access account by a party different from the account holder, the deposited fund will be returned to the party's bank account after clearance; if any bank charge is collected for the refund process, I-Access will deduct the same from the concerned I-Access account.

Clients can withdraw fund through ISSNet or ISSNet Mobile.

For withdrawal made before 9am on any business day, I-Access will deposit to the withdrawing client's registered Hong Kong bank account by crossed cheque or electronic transfer. Client can receive the fund on the same or next business day at your bank account. For overseas bank account, I-Access will remit the fund into that account, and collect the remittance fee at your I-Access account (or if insufficient, from the withdrawal amount).

Client can cancel your fund withdrawal request before 9am on the cutoff day: by clicking "Account", "Balance", then selecting "Cancel W/D" button, client can specify a fund withdrawal instruction to cancel. The fund under the cancelled withdrawal can be used for trading immediately.

I-Access clients may deposit scrip by the following ways:

1.	Deposit scrip in person at our Services Centre
2.	Mail scrip duly signed to GPO Box 9704

Scrip deposited can be sold immediately, but the sale proceed can only be withdrawn after 10 trading days. However, you may use the sale proceed for investment trading.

The registered name must be the same as the I-Access account name. If the registered name is a nominee, the client must provide evidence to prove he/she is the ultimate beneficiary of the scrip.

I-Access clients may use settlement instruction (SI) of CCASS to transfer securities from other brokers or banks to I-Access.

Client has to instruct the broker or bank to transfer the required quantity of securities to I-Access by SI, and then notify I-Access Client Services Department the securities, quantity and transferring broker or bank. After receiving client's instruction, I-Access will contact the transferring broker or bank to enter the SI in CCASS. When I-Access has received the securities, they will be deposited into the client's account. Client can check the holding through ISSNet. I-Access will also send the electronic statement at next dawn for client's checking.

Clients can give instruction to withdraw scrip through ISSNet. Withdrawal confirmation will be sent to withdrawing clients by email. When the certificates are ready for collection, we will contact the withdrawing clients by email to collect them. Clients must come to the I-Access Services Centre designated at withdrawal in person to collect the scrip.

I-Access clients may use settlement instruction (SI) of CCASS to transfer securities from I-Access to other brokers or banks.

First, client has to withdraw securities by SI through ISSNet by filling the securities quantity, broker or bank name and account number. Then you have to notify the receiving broker or bank to enter SI to get the securities transferred from I-Access. After receiving the client's instruction, I-Access will withdraw the securities from the client account, and then contact the receiving broker or bank to enter the SI in CCASS. When the counter broker or bank receives the securities, I-Access will send the electronic statement at next dawn for client's checking.

I-Access clients only have to fill in the online form for IPO through ISSNet, and the IPO application is completed. Nevertheless, clients must deposit the necessary fund for IPO beforehand.

Clients applying for IPO shares will receive the allotted shares on the day before listing in their accounts, and can sell the shares on the first listing day. Unsuccessful subscription portion will also be refunded to clients' account on the same day.

If clients apply for IPO loans, and the account balance is not sufficient to pay for the allotted shares, clients must deposit the amount due on the day of allotment, or else, I-Access may charge interest on the daily statement balance on the statement date based on the HSBC prime rate plus 5%.

I-Access clients can apply IPO by cash or by IPO loan.

There is no minimum application amount for IPO loan. The deposit required is 10% of the total subscription amount. There is a quota for IPO loan applications, on a first-come-first-served basis. IPO loans may or may not be provided based on market situation and quality of the new issuers, so not all IPOs will have IPO loan applications. The higher the loan amount, the lower of the loan interest rates will be.

For a hot IPO issue, I-Access may allow clients to book the loan amount of HK$1 million or integral multiple before application. Clients have to pay a non-refundable deposit of HK$10 per million dollars booked, which will be used for interest payment. Clients have to apply for the similar amount on the first day of application to enjoy 0.05% cut in interest rate.

Example
If the cash application amount is HK$1 million, the IPO loan deposit is HK$100,000, and the loan amount is HK$900,000.

The eIPO handling fee of HK$5.5 is collected by I-Access on behalf of the HKEX.

If a client applies for IPO loans, the loan interest will also be deducted from the account.

The IPO application deadline of I-Access is 10:00 a.m. on the last day of the open offer.

Yes, you can cancel the IPO application before 6:00pm on the day before deadline, but the interest and IPO fee will not be refunded.

Yes, you can modify the IPO application before 6:00pm on the day before deadline, but the extra interest paid will not be refunded.

If you apply IPO through ISSNet, you may check the allotment result in the portfolio window in ISSNet. The fund under the unsuccessful application will be refunded to your I-Access account.

Clients will also receive the electronic statements at the next dawn regarding the allotment and refund.

You should deposit the amount due into your I-Access account on the allotment date. Interest will be charged on the daily statement balance on the statement date.

If I-Access client is allotted shares from IPO subscription, I-Access will pay for you SFC levy, HKEX trading fee, and eIPO fee, charged in the IPO subscription. If you sell the IPO stock subscribed through I-Access at the New Share Board or on the first day of listing of the new stock, I-Access will rebate on the same day all the transaction costs of the sell order, including stamp duty, SFC levy, HKEX trading fee, clearing fee, trading tariff and system fee.

Notes for the IPO subscription privileged package:

Enter m.i-access.com in your web browser.

ISSNet Mobile can be run in the most popular types of smart phones, including iPhone, Android, Nokia, Windows Mobile and Opera Mini browsers。

ISSNet Mobile has the following strong points:

1.	No download: it can be run in your mobile browser;
2.	Full coverage: you can trade stock, futures and option;
3.	Applicable to all popular smart phones;
4.	Proxy server: it can penetrate proxy server, so that clients can trade at offices or other computers that cannot access ISSNet.

Client level is displayed on the ISSNet trading system. Client level represents the activity of the client using the trading services of I-Access. When client is very active in using the account, the level will go up.

The purpose of the client level is to provide better services to clients of higher level. When client level is going up, clients can open more quotation windows, and the frequency of information update will increase.

Client level will change based on your trading activities and fund movements through ISSNet. The asset value at your I-Access account will also affect the maintenance of the client level.

You can maintain the client level by keeping trading or a certain amount of asset at your account; otherwise, the client level will fall gradually.

The client level of a new client is 1.

I-Access provide free realtime quotes for securities, futures and options.

Free realtime securities quotes is not a streaming service, and clients have to press button to update information. Futures and option quotes are streaming data, the speed of which is increasing with the rise of client level.

Clients must satisfy the following conditions to enjoy free realtime quote service:
1. Client level 2 or above;
2. The first 3 months after account opening (only apply to realtime securities quotes);
3. Net value of cash and securities at least HK$100 (only apply to realtime securities quotes).

Free realtime quote service only shows nominal, day high and low prices, and turnover figures, without streaming format. Paid realtime quote service include more information, including:
1. Best bid and ask prices;
2. The top 10 price depths;
3. Broker queues;
4. Tickers.

Paid quote service is in a streaming format, with all securities, futures and option data updated every second. Every class of investment can open at most 4 quotation windows, so you may watch 12 quotation windows simultaneously. In addition, paid service has a broker search function to check the securities being traded by each brokerage firm. Clients under the paid service enjoy a faster order placement and other data services. Details can be found in "Investment" section of I-Access website.

Basically, all personal computers or notebooks can run ISSNet.

Personal computers
Pentium III 600 or above
128 MB Ram or more
Windows 98 or above
Apple computers

Mobile phones (ISSNet Mobile)
Windows Mobile (2003SE, WM5, WM6)
Android, iPhone iOS, Nokia Symbian

All the following browsers can run ISSNet:

Personal computers
Internet Explorer, FireFox, Opera, Safari, Google Chrome
Apple computers
Safari
Mobile phones (ISSNet Mobile)
Pocket Internet Explorer, Android, iPhone, Nokia

I-Access is very concerned with security of client information and trading:

1.	I-Access servers have multiple security implementation: staff entering server room must have the security card and password, and the server has a number of access passwords. Client passwords are stored in the database in encrypted form, so even staff of I-Access cannot obtain any client password.
2.	Data sent or received by ISSNet are encrypted. More important information like login password, is further encrypted to ensure security during Internet transfer.

Regarding the security of client computers, I-Access advise our clients to use more secured browser, such as Internet Explorer version 5.5 or above.

Clients may resize your browser window to show the full screen of ISSNet.

ISSNet allows direct connection or connection through proxy server.

Clients need not choose the way of connection because ISSNet can detect the connection mode itself.

As the speed of proxy server depends on the settings at the client side, the speed of I-Access will also be affected. Normally, connection through proxy server is slower than direct connection.

If you cannot access ISSNet, you may logon into ISSNet Mobile.

If you could see the login box originally, but can't now, please re-navigate ISSNet or press F5. If the login box still cannot pop up, please check your Internet connection.

ISSNet may logout automatically because:

1.	You do not have any action in 5 minutes;
2.	Connection to the Internet is broken;
3.	You ISP has changed the IP of your computer;
4.	Your account is logged in again; or
5.	ISSNet is undergoing system upgrade.

Client can input the booking information at [New Ride] via IssNet [Living] [Ride] [Book]

Ride Service in I-Access is designed to be a cashless experience. The amount will be deducted in I-Access A/C.

There are 2 types of ride services. Single point-to-point ride and hourly private chauffeur services.

I-Access Fleet includes Mercedes Benz luxury sedan, Toyota or Mercedes Benz luxury multi-purpose vehicles (MPV).

Client can contact our Ride Admin via WhatsApp 57216025 or by phone via 21267617.

Please refer to ISSnet for exact price. The final fare is calculated as follows:
Fare = Distance-based fee x (1 – Discount code discount) x (1 – Early Bird Discount) + Surcharges

You can cancel a pending order anytime free of charge. You can cancel a confirmed booking free of charge if there is more than 6 hours before departure time.
$10 Admin fee will be charged if you cancel the ride booking less than six hours before departure time. $50 Admin fee will be charged if you cancel the ride booking when your driver is on the way to the start point. Full ride fare will be charged for client does not show up.

Please contact our contact our Ride Admin via WhatsApp 57216025 or by email via sales@TripLink.com.

Clients may use the following methods to update personal information.

Updating method：

ISSNet:	After logon to ISSNet, click the I-Access logo at the top-left corner to open up the [System Menu], then choose [system], [data], [Update] and fill in the updated information only. It will be updated within 1-2 working days.
Services Centre:	Please bring your identity document along with you to any one of I-Access branches for amendment.
Email:	Please download the Form CD002D or enquire of I-Access staffs, please refer to the instructions on the related forms for detail.

Available channels for personal information update：

	ISSNet	Email	Services Centre
Address (Note 1)	✓		✓
Contact number (Note 2)	✓		✓
Bank account		✓	✓
Email address		✓	✓
Name (Note 3)			✓
Signature			✓
Identification documents			✓
Employment information	✓		✓

Note 1: For change of residential address via ISSNet, the copy of the latest address proof and I-Access account number has to be submitted to Customer Services Centre or to info@i-access.com by email.
Note 2: I-Access staffs will contact client’s new number for verification.
Note 3: Please bring your identification documents and the deed poll for name change.

According to Paragraph 1.6 of Client Agreement entered with I-Access, you have to inform I-Access about any change to the information given in the Account Opening Form and in any case, not later than 24 hours after such change has occurred.

Importance of Updating Information
As your investment account at I-Access is holding your fund and portfolios, if your personal information is not up-to-date or invalid, it is difficult for I-Access to inform you about important notices regarding your holdings for instance: the selection of shareholders’ entitlements, cash offer, or delisting of a listed company, etc. If the client’s account information is no longer valid or outdated, or if the client’s account is dormant account, the account may be frozen by I-Access staff in order to protect the client asset. Client will be required to take the related documents to I-Access Customer Service Centre to apply for the account reactivation.