Best Forex Brokers in Hong Kong

By: FX Empire Editorial Board
Updated: Sep 10, 2023
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Despite the fact Hong Kong is part of China, it is one of the biggest strongholds of capitalism, investing and one of the key centers of financial markets. If you have not yet found a broker to trade with we do recommend working with HKSFC regulated ones. Inside you will find our list of the very best brokers.
The brokers below represent the best forex brokers for trading in Hong Kong.
BrokerOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoOffers Promotions
Visit Broker >
This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
ASIC, CySEC , FSCA South Africa
$100
1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSCA South Africa)
MT4, MT5, cTrader, IRESS
2005
DMA, ECN, No dealing desk, STP
Visit Broker >
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
CySEC
$100
1:30 (CySEC )
Plus500
2009
No dealing desk
Visit Broker >
71% of retail investor accounts lose money when trading CFDs with this provider
ASIC, CySEC , FSCA South Africa, FSA Japan, FSC Mauritius, BVI FSC, CBI Ireland
$100
1:30 (ASIC), 1:30 (CySEC ), 1:400 (FSCA South Africa), 1:25 (FSA Japan), 1:400 (FSC Mauritius), 1:400 (BVI FSC), 1:30 (CBI Ireland)
MT4, MT5, Proprietary, AvaSocial, AvaTradeGo, AvaOptions, WebTrader
2006
Market Maker
Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.

Here’s a list of The Best Forex Brokers for trading in Hong Kong

Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

FP Markets

Regulated By:ASIC, CySEC , FSCA South Africa
Headquarters:Australia
Foundation Year:2005
Min Deposit:$100
Start Trading
This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
Official Site:www.fpmarkets.com
Demo Account:Open Demo Account
Max Leverage:1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSCA South Africa)
Publicly Traded:No
Deposit Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Mastercard, Giropay, Visa, Sofort
Withdrawal Options:Wire Transfer, PayPal, Skrill, Neteller, Sofort, Mastercard, QIWI, Giropay, Visa
Products:Currencies, Commodities, Indices, ETFs, Crypto
Trading Platforms:MT4, MT5, cTrader, IRESS
Trading Desk Type:DMA, ECN, No dealing desk, STP
OS Compatability:Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile Trading Options:Android, iOS

The broker offers the ability to trade on more than 10,000+ financial instruments covering Forex, Equities, Metals, Commodities, Indices and Cryptocurrency CFDs. Users have access to a range of accounts including the Standard Account (commission-free) and Raw Account (commission-based) for MetaTrader users, both offering ECN pricing and maximum leverage of 500:1. Users can also access Iress Accounts which are commission-based.

FP Markets also offers a range of education and market analysis resources through the Traders Hub which includes technical analysis and fundamental analysis articles and videos, as well as, trading ebooks and video tutorials. Users can access live support via telephone, email and live chat 24 hours a day, 5 days a week.

Pros: Cons:
  • ASIC regulated.
  • ECN pricing and DMA trading available.
  • 10,000+ tradable financial instruments.
  • Wide range of trading platforms and trading tools available.
  • Excellent customer support and education tools.
  • The volume of choice of markets and accounts may be overwhelming for beginner traders.

Plus500

Regulated By:CySEC
Headquarters:Israel
Foundation Year:2009
Min Deposit:$100
Start Trading
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Official Site: www.plus500.com
Demo Account:Open Demo Account
Max Leverage:1:30 (CySEC )
Publicly Traded:Yes
Deposit Options:Wire Transfer, Credit Card, PayPal, Skrill, Moneybookers
Withdrawal Options:Wire Transfer, Credit Card, PayPal, Skrill, Moneybookers
Products:Currencies, Commodities, Indices, ETFs, Stocks, Options, Crypto
Trading Platforms:Plus500
Trading Desk Type:No dealing desk
OS Compatability:Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile Trading Options:Android, iOS

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades, includes negative balance protection, and makes trading an educational and hopefully profitable venture (losses might occur as well)

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 30:1. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK, and Plus500CY Ltd is authorized & regulated by CySEC (#250/14).

Pros: Cons:
  • Support for 2000+ products to trade across global markets,including Forex, commodities, shares, indices
    and cryptocurrency CFDs
  • No commission and low spread costs
  • Advanced trades and fast execution
  • Licensed in several regulatory hubs, and publicly listed
  • Only CFDs, no direct Forex trades
  • High rates on margin/leverage accounts
  • Less research data than some competitors

AvaTrade

Regulated By:ASIC, CySEC , FSCA South Africa, FSA Japan, FSC Mauritius, BVI FSC, CBI Ireland
Headquarters:Ireland
Foundation Year:2006
Min Deposit:$100
Start Trading
71% of retail investor accounts lose money when trading CFDs with this provider
Official Site:www.avatrade.com
Demo Account:Open Demo Account
Max Leverage:1:30 (ASIC), 1:30 (CySEC ), 1:400 (FSCA South Africa), 1:25 (FSA Japan), 1:400 (FSC Mauritius), 1:400 (BVI FSC), 1:30 (CBI Ireland)
Publicly Traded:No
Deposit Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, QIWI, Boleto
Withdrawal Options:Wire Transfer, Credit Card, PayPal, Skrill, Neteller, QIWI, Boleto
Products:Currencies, Commodities, Indices, ETFs, Stocks, Bonds, Futures, Options, Crypto
Trading Platforms:MT4, MT5, Proprietary, AvaSocial, AvaTradeGo, AvaOptions, WebTrader
Trading Desk Type:Market Maker
OS Compatability:Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile Trading Options:Android, iOS

AvaTrade was founded in 2006 and is authorised and regulated across all six continents it operates including by the CBI, BVI FSC, ASIC, FSCA, FSA and ADGM. It is one of the oldest online forex and CFD brokers with a well-established reputation for customer support, competitive fees and spreads – all in addition to offering a large range of financial instruments, even including ETFs and FX options for those who like to diversify across assets.

Users can choose to open several different account types – Retail, Professional, Spread betting and Options. The differences are discussed in the account opening section below. Retail, professional accounts offer access to over 1,250+ financial instruments across the AvaTrade propriety web-based platform, MetaTrader 4 and MetaTrader 5. Additional platforms include DupliTrade, AvaTradeGo, AvaOptions and AvaSocial, all of which are discussed further down this review.

Pros: Cons:
  • Global regulation – CBI, BVI FSC, ASIC, FSCA, FSA and ADGM.
  • A wide selection of platforms for every type of trader including MT4/MT5.
  • Competitive spreads and fees.
  • Multilingual customer support.
  • Not available to residents in the USA and Iran.

How to Choose a Forex Broker as a Hong Kong trader

Despite the fact that  Hong Kong has a strict regulator, there are still plenty of scammers around trying to lure customers to trade with them and then run off with their money. There are a few things you have to consider while in search of a Forex broker in Hong Kong.

Firstly, it has to be regulated by HKSFC. Then, it has to provide its customers with an easy to use trading platform. It also has to offer low commissions, as trading with high commissions eats up your profit. You should also expect to be offered a number of accounts to choose from depending on the amount of money you are planning to invest.  The broker must have excellent customer service. And, although it is not compulsory, a lot of additional valuable services should be there. They show the broker‘s attitude towards you and their willingness to invest their own money in the business.

General Regulation & Hong Kong Regulation

The world has been moving forward in terms of the regulation of financial markets. Despite the fact that in some developing countries Forex regulation is not clear and in some it is even considered to be illegal to trade currencies, in the Western world it is legal and strictly regulated. Each financial crash around the globe has brought about stricter rules for brokers, lowered maximum leverage, increased margin requirements and ousted lots of unregulated brokers. Some countries, which did not have any regulation in the area have already started forming a legal framework for supervision and monitoring of local Forex markets.

As Hong Kong is one of the centers of financial markets it does have a strict regulator – HKSFC, which stands for Hong Kong Securities and Futures Commission. It came about in 1987 after stock markets around the World crashed. The crash started with the Hong Kong stock market and spread to the rest of the World. So, the newly founded regulator introduced strict regulatory measures so that similar events would not happen again. HKSFC issues licenses to brokers who want to operate in the area and then supervises and monitors those brokers how they comply with the rules set by the agency. It carefully monitors all markets operations in Hong Kong and authorizes every product before it is offered by its regulated brokers to their customers. It also analyses complaints from investors about their brokers and punishes the guilty party according to its transgression.

Trading Platform & Software

The trading platform will be your tool to trade currencies or any other securities so you need to check what a regulated broker offers you. First of all, you will have to download a demo version from their website and familiarize yourself with it. You will be able to see if it is good enough, easy enough to use and if it has all the necessary features that you need. If not, you can go to another broker and see what platform he has. Nowadays, most brokers will offer the popular Metatrader 4 platform and a browser version of their own webtrader. Choose whichever platform you want, but do not forget to test it before opening a real money account.

Commissions & Spreads

On each trade you make a broker gets paid. How? By means of a spread. A spread is the difference between the buy and sell price. The most popular pair EUR/USD typically has 1 or 2 pip spread between buy and sell prices. So, when you open a buy or sell position in the pair you have a loss of those 1 or 2 pips. That is your broker‘s commission. The same is true with other pairs with higher spreads. You should choose a broker with the lowest spreads because each operation reduces your profits and if spreads are high your profits will decrease significantly.

Account Types

After you have tried a demo account and got to know how things work on your best broker‘s platform you may proceed to open a real money account and you may start with a micro.

Micro account

The account is good for those who have very little money to invest ($100-500). Most brokers will offer you that and you will be able to trade real money with small risk. One micro lot size is 1 thousand US dollars and one pip price is just $0.10.

Mini account

If you have tried micro or you simply want to trade bigger amounts of money a mini account could be just for you. You can open it with $500-2000 (recommended amount is $2000) and start trading mini lots (the size  $10 000).

Standard account

If you intend to become an independent trader and have over $10000 you may consider opening a standard account. The recommended amount for it is 20 thousand US dollars and a standard lot size is 100k. As you may understand risks increase exponentially with trading such big volumes, so you need to control your risks or you may lose all of your invested money.

Customer Service

Not all brokers treat their customers equally. You need to find a broker who shows the greatest care for his clients. The minimum that you should expect is service in your local language or dialect, online live help customer line that is there 24 hours on the working days and a functional problem-solving team that will reply to your request in a fast, caring and efficient manner.

Additional Services

Forex brokers often offer a lot of extra free services. That is a sign of good business culture. They invest their own money to give their clients as much in return as possible. They hire economists and financial people to write or record various analytical materials, give insights into the state of global economy and predictions about changes in policy of Central Banks. You may get free Ebooks on a variety of topics and with some brokers can even participate in trading contests and get big money prizes.

Conclusion

A Hong Kong trader has excellent opportunities to find a regulated broker and more or less safely invest in the biggest market of the World. The article outlined the key points which will help you to choose the best brokers among the regulated ones. We have created a list of the very best Hong Kong brokers below based on our own in depth research. We wish you great success in your career as a trader.

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About the Author

FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.

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