New and dormant customers eligible; KOSPI200 futures fee slashed 90%
Up to 4 months of discounts for active traders; first-time traders receive 200,000 won cash
Kiwoom Securities is offering discounts of up to 90% on domestic futures and options commissions for customers trading the products for the first time or resuming trading.
The brokerage announced Wednesday that the promotion will run through Nov. 30. Eligible customers include those who opened a futures and options account on or after Aug. 28 and those who opened an account before Aug. 28 but made no domestic futures or options trades between March 1 and Aug. 28. Customers who participated in the immediately preceding version of the same promotion are excluded.
The discount takes effect from the first business day after a customer registers and applies for two months on non-face-to-face accounts and one month on branch or bank-opened accounts. The online commission rate for KOSPI200 futures will fall from 0.003% to 0.00025104%. Customers who trade 60 billion won ($43.7 million) or more in futures, or 1 billion won or more in options, within two months of signing up can have the discount period extended to a maximum of four months for non-face-to-face accounts and two months for other account types.
Additional benefits are available based on trading volume. First-time domestic futures and options traders who meet the extension criteria will receive 200,000 won in cash within two months of the promotion's end. Customers are responsible for applicable taxes of 22%, and those without a valid account at the time of payment will be disqualified from receiving the benefit.
The discounts cover futures and options linked to indexes, equities, currencies and interest rates, as well as KRX after-hours futures and options. Trades can be placed through the HTS platforms Heroic Gate 4 and Heroic Gate G, and the MTS platform Heroic Gate SF+.
Domestic futures and options are derivatives whose value is based on price movements in stock indexes, individual equities, currencies or interest rates. Futures involve the right or obligation to trade at a predetermined price at a future date, while options grant the right to buy or sell at a set price. Because both instruments allow investors to position for price moves in either direction, they can be used across a wide range of investment strategies.
"We hope this promotion helps reduce the commission burden for customers who are starting or resuming domestic futures and options trading," a Kiwoom Securities official said.
kacew@heraldcorp.com
