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Leveraged and Inverse (L&I) Products
Take short-term market views with exchange-traded products designed for amplified or inverse daily exposure.
What are Leveraged and Inverse (L&I) Products?
Leveraged and Inverse (L&I) Products are exchange-traded products designed to deliver a stated multiple or inverse of the daily performance of an underlying index.
Leveraged Products
Leveraged Products seek to deliver a multiple of an underlying index's daily return, such as 2X or 3X.
For example, a 2X Leveraged Product seeks to rise approximately 2% on a day when its underlying asset rises 1%, before fees and other factors. Conversely, if the index falls 1%, the product would seek to fall approximately 2%.
They are typically used by investors and traders looking to express a short-term bullish view with amplified daily exposure.
Inverse Products
Inverse Products seek to deliver the opposite of an underlying index's daily return, such as -1X, -2X or -3X.
For example, a -1X Inverse Product seeks to rise approximately 1% on a day when its underlying asset falls 1%, before fees and other factors. If the index instead rises 1%, the product would seek to fall approximately 1%.
They provide a way for investors and traders to express a short-term bearish view through an exchange-traded product.
Designed around daily returns
Unlike conventional long-term investments, L&I Products are designed around a daily investment objective and typically rebalance daily.
This means their performance over periods longer than one trading day may differ from simply applying the stated leverage or inverse multiple to the underlying index's cumulative return. The effect can become more pronounced during volatile or fluctuating markets.
L&I Products are therefore generally intended for short-term market views and require active monitoring.
Why Trade L&I Products with Phillip Nova?
受 MAS 监管的值得信赖的经纪商，拥有超过 40 年的经验
Access L&I products from across global markets — Singapore, US, Japan, Hong Kong, and more
Trade L&I products alongside stocks, ETFs, futures, options, forex, and CFDs through a single multi-asset trading account on NOVA
No platform or custodian fees
L&I Products on NOVA
From broad market indices and sectors to ETFs and individual stocks, NOVA gives you access to a range of Leveraged and Inverse Products across Singapore and global markets.
Explore products linked to widely followed indices such as the Nasdaq-100 and S&P 500, sectors such as semiconductors and technology, selected ETFs, and individual stocks such as NVIDIA on NOVA.
Popular global L&I Products include:
| Leveraged and Inverse Product | 股票代码 | 目标 |
| ProShares UltraPro QQQ | QQQQ | Seeks 3X the daily performance of the Nasdaq-100 Index |
| ProShares UltraPro 短 QQQ | 它并非针对单一股票， | Seeks -3X the daily performance of the Nasdaq-100 Index |
| Direxion Daily Semiconductor Bull 3X Shares | SOXL | Seeks 3X the daily performance of the 三倍反向回报。 |
| GraniteShares 2x Long NVDA Daily ETF | NVDL | Seeks 2X the daily performance of NVIDIA stock |
For the Singapore market, Phillip MSCI Singapore Daily 2X Leveraged Product (SGX: LSS) 和 Phillip MSCI Singapore Daily -1X Inverse Product (SGX: SSS) provide exchange-traded exposure designed around the daily performance of the MSCI Singapore Index (SiMSCI).
The NOVA trading platform
NOVA
NOVA brings L&I Products, Stocks, ETFs, Futures, Options, Forex, CFDs and Precious Metals together on one multi-asset platform.
Access over 11,000 global products, analyse markets with TradingView-powered charts and over 100 indicators, view Market Depth, set price alerts, and manage trades across asset classes with one account. NOVA is available on mobile, iPad and desktop.
Now with NOVA.I – our new AI-powered chatbot available on the NOVA trading platform.
Learn more about Leveraged and Inverse Products
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Read More佣金率
| 交易所 | 佣金（网上交易） | 佣金（电话下单） |
|---|---|---|
|
香港（港交所） |
0.08%（每笔订单最低HKD28/USD3.80/CNH23）
|
0.18%（每笔订单最低HKD88/USD11.80/CNH68） |
|
日本（TSE）
|
0.1% (minimum of JPY380 per order) |
0.20%（每笔订单最低金额为 2000 日元） |
|
马来西亚 (KLSE) |
0.08%（每笔订单最低 MYR18/USD4.50）
|
0.18%（每笔订单最低 MYR68/USD18） |
|
新加坡 (SGX) |
0.08%（每笔订单没有最低要求） |
0.18%（每笔订单最低SGD18/AUD18/GBP10/EUR12/HKD100/USD15） |
|
美国（纽约证券交易所、美国证券交易所、纳斯达克） |
0.01%（每笔最低 USD3.88） |
0.18%（每笔订单最低18美元） |
交易所费用和其他交易费用
| 交易所 | 类型 | 收费 | 收费人 |
| 香港 (香港交易所) | 交易费 | 0.00565% 的贸易 价值 | 香港交易所（香港 香港交易所） |
| 交易征费 + FRC 交易征费 | 0.00285% 贸易 value (rounded to the nearest cent) | 证监会（香港 证券 & 期货 委员会） | |
| 清算费用 | 0.0042% of trade 价值 | 香港中央结算（香港 香港交易所 &清算 有限的） | |
| 印花税 | 0.10% of trade value (rounded up to the nearest dollar) | 政府 香港 |
| 交易所 | 类型 | 收费 | 收费人 |
| 马来西亚 (KLSE) | 印花税 | MYR1 for every MYR1,000 in contract value (capped at MYR 1,000 | 吉隆坡证券交易所 |
| 国外费用 | 0.03%（四舍五入至最接近的仙，每份合约上限为 MYR1,000） | 吉隆坡证券交易所 |
日本股票不收取交易所费用。
| 交易所 | 类型 | 收费 | 收费人 |
| 新加坡 (新交所) | 清算费用 | 0.0325% 贸易 价值 | 新交所 |
| 交易费 | 0.0075% 贸易 价值 | 新交所 | |
| 结算指令 (SI) 费用 | 每人 0.35 新元 每个方向的计数器 （买卖） | 新交所 |
| 交易所 | 类型 | 收费 | 收费人 |
| 新加坡 (新交所) | 清算费用 | 0.004% 交易量 价值 | 新交所 |
| 交易费 | 0.001% 交易量 价值 | 新交所 | |
| 结算指令 (SI) 费用 | 每人 0.35 新元 每个方向的计数器 （买卖） | 新交所 |
| 交易所 | 类型 | 收费 | 收费人 |
| 美国 （纽约证券交易所、美国证券交易所、纳斯达克） | SEC 会员费（仅限销售） | 0.00206% of trade value (effective 6 Apr 2026) | SEC（美国证券交易委员会） |
| 交易活动费（仅限卖出） | USD0.000195 per share, max USD9.79 (w.e.f 1 Jan 2026) | FINRA（金融业监管局） | |
| ADR（美国存托凭证）费用 | 每股 0.01 美元 – 0.05 美元 | DTCC（美国存托信托与清算公司） |
注意：ADR 费用由 DTCC 收取。这些是定期收取的服务费，以补偿代理银行提供的托管服务。 ADR 招股说明书中应提供有关任何此类费用的更多详细信息。
Currency Conversion Fees
When you trade a product denominated in a currency different from your account’s base currency, a currency deficit may arise, on which interest charges may apply. You are encouraged to convert sufficient funds into the required currency to avoid such charges.
Currency conversion (FX) costs range from 0.05% to 0.12% for popular markets.
Conversion Costs by Market
| Market | 货币 | Approx. Conversion Cost |
| 我们 | 美元/新加坡元 | 0.12% |
| 香港 | SGD/HKD | 0.05% |
| 日本 | 新币/日元 | 0.12% |
No separate conversion fees are charged. All costs are reflected in the exchange rate applied.