孖展與抵押股票的分別

Stock Collateral (股票抵押) is basically a secured loan, similar to mortgage or car loan. What it does is you transfer the stocks into the financial institution and the institution provides the funding you need. You can do anything with the money. Although the institution holds the stock, the institution can't sell unless you default on the loan.

On the other hand, margin (孖展) is a credit extension on your account, which the institution allow you to "invest" by using the institution's money or asset. Since you are "playing" with other money or asset without the need of repayment, the institution can control your account in case the cash balance can't cover the extension.

個問題咪就係入場門檻既分別lor.

你走去買ibond,同買美國國債,係咪已經好大分別?
咁係咪冇得直接比較呢?