# Fee All fees are collected in USDT or USDC, converted from HKD at the exchange rate at the time of collection. ### Handling fee | Subscription | Handling fee | | ---------------------- | ------------ | | Cash subscription | 60 HKD | | Leveraged subscription | 100 HKD | Flat fee per order, regardless of subscription size. Charged at subscription close The handling fee applies to every order — whether or not you receive an allotment. ### Financing fee Financing fee = Financing amount × rate Leveraged subscriptions only. Rate is configured per IPO. Charged at subscription close How it's calculated: **Financing amount = your cash amount × (leverage ratio − 1)**\ **Financing fee = financing amount × financing rate** Like the handling fee, the financing fee is charged at subscription close and is non-refundable regardless of allotment outcome. ### Transaction levies & brokerage Transaction levies & brokerage are 1.0085% of allotment value. Covers the exchange transaction levy, trading fee, brokerage commission, and FRC transaction levy. Only if allotted. How it's calculated: **Fee = allotted shares × issue price × 1.0085%** This is the only fee that depends on receiving an allotment. It is not charged if your order is not allotted. Settlement currency: all HKD amounts are converted to USDT or USDC at the rate applicable at the time each fee is collected. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://stablestock.gitbook.io/ss/concepts/hk-ipo/fee.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.