新开户佣金费率跌破“万1”，券商称此轮行情没有去年924时忙

Core Viewpoint - The securities industry is experiencing a competitive environment as brokers engage in a customer acquisition battle, with a focus on commission rates and financing rates for new accounts [2][4][8]. Commission Rates - Many brokers are offering commission rates around "0.15%" and "0.1%", with some providing even lower rates of "0.0854%" and "0.0841%" for larger account balances [2][4]. - Brokers typically require a minimum account balance of 500,000 yuan to qualify for lower commission rates, with some offering rates as low as "0.0854%" for accounts over 3 million yuan [4][7]. - The concept of "0.1% exempt from 5 yuan" is not feasible due to regulatory compliance, but brokers may offer commission discounts for high-frequency traders with significant capital [2][4][5]. Margin Financing - The margin trading balance has reached 2.1 trillion yuan, marking a significant increase, with financing rates for new accounts ranging from 4% to 5.5% [6][7]. - For accounts over 1 million yuan, financing rates can be as low as 4.8%, but rates below 5% are not yet common practice among brokers [7][8]. Market Participation - Current retail investor participation is lower compared to previous market peaks, with limited inflow of retail funds into the stock market [10][11]. - High-net-worth investors are entering the market, but overall retail funds are primarily flowing into bank wealth management products rather than directly into stocks [11][12]. - There are indications of a potential influx of approximately 5 trillion to 7 trillion yuan from excess savings into the market, as residents are beginning to shift their savings [12][13].