A platform for trading Hong Kong and US stocks with USDT without costs: Biyapay
Investing in high-quality global assets cannot be separated from US stocks, but transferring from crypto assets to US stocks can be too complicated. If you don't have a foreign currency card and want to trade US stocks, you can try this.
I previously wrote a complete withdrawal tutorial from USDT to fiat currency, but some people don't have a Hong Kong card, or the costs are too high after several operations, and remittances also take time. Converting back to USDT is also quite troublesome.
Registration link (remove the space after the period): biyapay.com/re/45922589 (20% fee waiver)
➤ Advantages and disadvantages of different Hong Kong and US stock brokers
Advantages
1. USDT can be directly exchanged for USD at a 1:1 ratio without costs
2. Can trade digital currencies, but the variety is very limited
3. Lower fees than Futu, and using the referral code gives a 20% discount, fees are only second to Interactive Brokers, registration link is above
4. The ordering mechanism is 1:1 real-time orders into the US stock market, and other methods also support the possibility of betting on US stocks with USDT
5. The trading experience is closer to digital currency trading rather than traditional US stock trading
6. There is a 5.48% USD/USDT current financial management yield
7. Compared to other US stock brokers, it might help avoid taxes; at least I haven’t received any notification using Interactive Brokers and Biyapay
Disadvantages
1. Loan interest is too high
2. Cannot participate in new issues of Hong Kong and US stocks
3. Has licenses from the USA, Canada, and New Zealand, but compared to legitimate internet brokers, it may have certain risks, not recommended to invest too much capital
4. Currency exchange fees are too high; for example, converting USD to HKD incurs high costs
5. No pre-market trading
Other Functions
- Global remittance is the main business of biyapay, but compared to backpack, karken, and Victory Securities, the remittance fees for fiat currency are relatively high, unless exchanging for other foreign currencies, the cost for converting USDT to fiat currency is 1%
USDT payment card
- There is a quick card, but the fees are not very competitive, worse than infini.