InnovestX

InnovestX Review: Is InnovestX any good?

Overview and General Information: Is InnovestX Trustworthy?

InnovestX is a full-service investment brokerage firm in Thailand. Established on October 6, 2011, the company was formerly known as "SCB Securities Co., Ltd. (SCBS)" and changed its name to "InnovestX Securities Co., Ltd." on September 12, 2022.

The company has been growing steadily and gaining recognition in the Thai financial and investment industry, focusing on developing modern investment platforms that meet the needs of investors in the digital age.

Regulation and Licensing

If you ask whether InnovestX is good or not, you have to start by considering the license factor first. InnovestX Securities Co., Ltd. (InnovestX), the service provider of the InnovestX application, has received a securities business license from the Securities and Exchange Commission (SEC).

• License number 310280120003 Type: Digital Asset Trading Center (Token)

• License number 310180120006 Type: Digital Asset Trading Center (Crypto)

• License number 210280100000 Type: Broker (Token)

• License number 210180100003, Broker type (Crypto)

• License No. Lor Kor-0042-01 Type A for providing services in private fund management (private fund), securities brokerage, securities trading, investment consulting, securities distribution, securities borrowing and lending business (Principal and Agent)

Products and services

Assets Provided

Thai Stocks

• Investors can trade stocks on the Stock Exchange of Thailand (SET) and the Market for Alternative Investment (mai).

Global Stocks

• Investing in shares of global companies such as Amazon, Apple, Tesla, etc. through stock markets in the United States, Europe, and Asia.

Mutual Funds

• Investing in mutual funds from leading management companies such as SCBAM, BBLAM, and others.

Fixed Income Securities

• Investment in government bonds, treasury bills and private company debt instruments

Digital Assets

• Investment in cryptocurrencies and digital tokens certified by the SEC. Provides Bitcoin (BTC), Ethereum (ETH), Solana (SOL), etc. and approved digital token projects.

Exchange Traded Funds (ETFs)

• A fund listed on the stock exchange and traded like a stock.

Investing in Intelligent Portfolios

• Investing in portfolios designed and managed by AI systems to increase return opportunities

Commodities

• Investing in assets such as gold, oil and agricultural products through derivatives and ETFs.
  
  

Trading Platform

InnovestX has its own developed application called "InnovestX" which is a super app that combines all types of investments in one place. Investors can invest in Thai stocks, foreign stocks, mutual funds, bonds and digital assets through this application. Investors can also trade via TradingView. There is also a web trading platform for trading via the website.

Dime Review: Account Types and Fees

Account Type

Cash Account

details:

• Investors can trade shares by paying the full amount on the settlement date (T+2).

• Suitable for investors who do not want to use credit and want clarity in money management.

condition:

• A bank account link is required for payments and receipts.

• There is no minimum deposit requirement.

Cash Balance Account

details:

• Investors must deposit funds into their accounts in advance to use as trading credit.

• Suitable for investors who want to strictly control their spending.

condition:

• Minimum deposit starts at 100 baht.

Digital Asset Account

details:

• An account designed for investing in digital assets such as cryptocurrencies and digital tokens.

• Powered by the highly secure InnovestX platform

condition:

• Must pass regulatory identity verification (KYC)

InnovestX Fees

Commission Fees

Thai stock trading:

• Via Internet (Online): Starting at 0.157% of the trade value.

• Through agents (Call Center): Starting at 0.25% of the trading value.

Foreign stock trading:

• The commission depends on the chosen stock market, such as the American, European and Asian stock markets.

Digital Asset Fees

• Digital Asset Trading Fees: No trading fees during the promotion period for new customers.

• After the promotion, the fee rate may start at 0.15% depending on market conditions.

• Digital asset withdrawal fees: Depends on the type of cryptocurrency, such as Bitcoin, Ethereum, etc.

Non-Trading Fees

• Custody Fees: These may be charged if investors hold assets in their account for an extended period of time.

Other Fees (Miscellaneous Fees)

• Fee for issuing a certificate of purchase/tax: The starting fee is 100 baht/copy.

• Other service fees: Depends on the type of service, such as document delivery service fees.

Deposits and Withdrawals

Investors can deposit money directly through a bank account connected to the InnovestX application, which is convenient and fast, and supports Mobile Banking, Internet Banking and ATM.

Deposit and Withdrawal Fees

• Deposits: There are no fees for deposits via a bank account connected to InnovestX.

• Withdrawal: Minimum withdrawal: 2,000 baht

  • Withdrawal fee: Minimum 50 baht/transaction + VAT 7% (only in cases where automatic account deduction application is unsuccessful)

promotion

INVX Point makes every trade more worthwhile.

Accumulated points can be exchanged for many special prizes. Event period: 1 January 2023 - 20 March 2025

Thai stocks and/or futures contracts (TFEX)

• For every 20 baht of investment fee, you will receive 1 point.

Foreign stocks listed on the US stock exchange and/or the Hong Kong stock exchange.

In the case of investing in the US stock market:

• The first $4.99 (USD) spent earns 1 point.

• For every $1 spent (USD) thereafter, you will earn 2 points.

In the case of investing in the Hong Kong Stock Exchange:

• The first 100 Hong Kong Dollars (HKD) spent will earn 6 points.

• For every HK$25 spent thereafter, you will earn 3 points.

Digital assets

• For every 20 baht of investment fee, you will receive 1 point.

Thai Mutual Funds

• In the case of making a mutual fund purchase order with a sales fee of 0.5% - 1.0%: Every 1,000 baht of mutual fund purchase will receive 1 point.

• In case of purchasing mutual funds with sales fees of more than 1.0%: Every 1,000 baht of mutual fund purchases will earn 2 points.
  
  

Bangchak GreenMiles Rewards, exclusive privileges for Bangchak GreenMiles card members

For exchanging Bangchak member card points via the Bangchak application and purchasing mutual funds using discounts via the InnovestX application.

• Bangchak members can use 500 points to redeem a 100 baht discount code for mutual fund purchases.

• The period for receiving the rights is from 1 October 2024 – 30 September 2025 or until the rights expire.

Support and Customer Service

Investors can contact InnovestX customer service through various channels.

• Telephone: 02 949 1999

• Email:contact@innovestx.co.th

• Facebook and Line :@InnovestX

InnovestX Review: Pros - Cons

Pros

• One-stop investment: InnovestX is a super app that brings together a variety of investments in one place, from stocks, mutual funds, bonds to digital assets.

• Modern platform: User-friendly applications with advanced analytical tools and features such as TradingView.

• Interesting promotions: Some investment fees are waived for new customers, including Intelligent Portfolios services.

• Security: Strict data encryption and security measures in place.

• Supports Digital Assets: Provides investors with the opportunity to invest in digital assets safely and with a license.

Cons

• No Demo Account: Lack of demo account for investors who want to practice trading before going live.

• Certain Fees: There are minimum withdrawal fees and certain conditions that may be restrictive for retail investors.

• Limited Service: Some types of assets, such as futures, are not covered.

InnovestX Review Summary: Is it good?

InnovestX is a modern and comprehensive investment platform suitable for investors who want to invest in a variety of assets, including digital assets. The platform is secure and has good analysis tools. However, investors should consider disadvantages such as withdrawal fees and the lack of a demo account before making a decision.

InnovestX FAQs

Q: How do I open an account in InnovestX?
A: Investors can open an account via the InnovestX application by registering and verifying their identity online.

Q: How long does it take to withdraw money from InnovestX account?
A: Withdrawals take approximately 1-3 business days, depending on the withdrawal channel and banking system.

Q: Are there any fees for investing in stocks?
A: There is a minimum commission starting at 0.157% for online trading.

Q: What types of digital assets can I invest in?
A: Investors can invest in cryptocurrencies such as Bitcoin and Ethereum, as well as SEC-approved digital tokens.

Q: What types of investment platforms does InnovestX support?
A: There is an InnovestX mobile app and a web trading platform that can be accessed through a web browser.