The best Forex brokers in Hong Kong, according to our research, are:
- FP Markets
- Forex.com
- HFM
- Saxo
- Swissquote
- Oanda
- Interactive Brokers
- Rakuten Securities
Hong Kong, a city and a special administrative region in China, holds a pivotal role in global financial markets as one of the world’s leading international financial centers.
The official currency of Hong Kong is the Hong Kong Dollar (HKD), which is one of the most traded currencies in the world.
When it comes to regulatory oversight for retail forex trading, this responsibility lies with the Hong Kong Securities and Futures Commission (SFC). The SFC ensures that brokers and financial institutions operate within a framework of transparency and integrity, aiming to uphold Hong Kong’s reputation as a reliable and secure place for investment and trading activities.
In this article, we have included forex brokers that operate in Hong Kong or accept HK clients.
To compile the list of brokers we have taken into consideration a multitude of factors including:
- A regular HK forex license;
- The broker trustworthiness;
- The commissions charged;
- The overall service quality.
What are the best forex brokers in Hong Kong?
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Below is our curated list and review of the best forex brokers for traders living in Hong Kong, with details and information about the country laws, the features, and the characteristics.
FP Markets
overall trading experience
FP Markets supports HKD for deposits. FP Markets allows access through its international entity. FP Markets LLC is regulated in St. Vincent and the Grenadines.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- Not directly HK SFC regulated but traders from Hong Kong can apply through the international entity of the broker: FP Markets LLC regulated by SVG with license n° 126 LLC 2019.
- HKD is supported for deposits and as a base currency for accounts.
- Trading with FP Markets opens access to many markets for a total of over 10,000 CFDs that includes more than 70 forex pairs.
- Spread on forex starts very low from 0 pips on EUR/USD and leverage is available up to 1:500.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
Forex.com
deep liquidity provided
Forex.com accepts Hong Kong traders. Forex.com operates via GAIN Global Markets Inc. Forex.com is regulated by the Cayman Islands Monetary Authority.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Forex.com
FOREX.com is a global forex and CFD broker founded in 2001, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FOREX.com provides proprietary platforms alongside MetaTrader 4 and 5. FOREX.com is regulated by multiple top-tier authorities including FCA, ASIC, and CFTC. FOREX.com is known for competitive spreads, fast execution, and extensive educational resources. FOREX.com serves over 450,000 clients worldwide. The FOREX.com’s parent company “StoneX Group Inc.” CEO is Sean O’Connor.
Forex.com Features
The features of Forex.com are listed below.
- Forex.com accept traders from Hong Kong as GAIN Global Markets Inc. via CIMA regulation with license n° 25033.
- Forex.com provides access to over 4,500 CFDs including more than 80 forex pairs with competitive spreads from 0.8 pip on EUR/USD.
- High volume traders can qualify for the active trader rebate program earning cash rebates up to $10 per million dollars traded.
- HKD is not supported to open accounts with Forex.com or as a deposit currency.
Forex.com Pros and Cons
Advantages of Forex.com
The advantages of Forex.com are listed below.
- Regulatory Assurance
- Low Forex Fees
- Comprehensive Educational Resources
Disadvantages of Forex.com
The disadvantages of Forex.com are listed below.
- Limited Product Portfolio
- Higher Spreads on Standard Accounts
- No Guaranteed Stop-Loss Orders for U.S. Clients
HFM
best trading features
HFM permits Hong Kong traders via its entity in St. Vincent and the Grenadines. HFM has significant recognition in Asia.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About HFM
HFM, formerly known as HotForex, is a global multi-asset broker founded in 2010. HFM offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader and proprietary platforms. HFM is regulated by multiple authorities including FCA, CySEC, and FSCA. HFM is known for competitive spreads, fast execution, and extensive educational resources. HFM serves over 3.5 million clients worldwide. The HF Markets Group CEO is George Koumantaris.
HFM Features
The features of HFM are listed below.
- HFM is not locally regulated by the HK SFC but traders from Hong Kong can apply through HF Markets (SV) Ltd which is regulated by SVG, license n° 22747 IBC 2015.
- Awarded best forex brokers in Asia three times in a row: 2019, 2020, 2021.
- HFM provides access to over 1,200 trading instruments which include more than 50 forex pairs.
- Spread on forex is provided low as in EUR/USD starting from 0.1 pip while leverage is up to 1:1000 on forex, depending on the account chosen.
HFM Pros and Cons
Advantages of HFM
The advantages of HFM are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HFM
The disadvantages of HFM are listed below.
- Higher Trading Costs
- Limited Educational Resources
Saxo
best for professional traders
Saxo operates in Hong Kong under SFC regulation. Saxo has no minimum deposit requirement in Hong Kong. Saxo maintains a Hong Kong office.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Saxo
Saxo is a Danish investment bank and online trading platform founded in 1992. Saxo offers trading in forex, stocks, CFDs, futures, options, and other financial instruments across global markets. Saxo provides proprietary trading platforms and white-label solutions for institutional clients. Saxo is regulated by multiple authorities including the Danish FSA and UK FCA. Saxo serves retail and institutional clients in over 170 countries. The Saxo CEO and co-founder is Kim Fournais.
Saxo Features
The features of Saxo are listed below.
- Saxo Capital Markets HK Limited is HK SFC regulated with a type 3 license n° AVD061 providing leveraged foreign exchange trading.
- Physical office in Queen’s Road Central, Hong Kong.
- There’s no minimum deposit required for Saxo in Hong Kong.
- Accounts at Saxo support many base currencies including USD and HKD. Deposits in other currencies can be charged a conversion fee of up to 0.60% of the transaction.
- Saxo provides access to over 40,000 CFDs including more than 200 forex pairs. On EUR/USD the spread starts from 0.6 pips.
- Hong Kong traders earn reward points for every qualifying trade. A mini lot on forex will give you 20 points for example.
Saxo Pros and Cons
Advantages of Saxo
The advantages of Saxo are listed below.
- Regulation and Trust
- Extensive Product Range
- Advanced Trading Platform
Disadvantages of Saxo
The disadvantages of Saxo are listed below.
- High Minimum Deposits for Premium Accounts
- Lack of Spread Betting Options
- Custody Fees in Certain Regions
Swissquote
top-quality research tools
Swissquote is SFC regulated in Hong Kong. Swissquote has a Hong Kong office. Swissquote does not conduct banking in Hong Kong.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Swissquote
Swissquote is a Swiss online banking and trading company founded in 1996. Swissquote offers trading on forex, stocks, CFDs, cryptocurrencies, and other financial instruments. Swissquote provides various trading platforms including MetaTrader and a proprietary platform. Swissquote is regulated by multiple authorities including FINMA and FCA. Swissquote serves over 500,000 clients worldwide and is listed on the SIX Swiss Exchange. The Swissquote CEO is Marc Bürki.
Swissquote Features
The features of Swissquote are listed below.
- Swissquote Asia Ltd is HK SFC regulated with a type 3 license n° AZV127 allowing leverage foreign exchange trading.
- Physical office in Garden Road, Hong Kong.
- It does not conduct banking or deposit-taking business in Hong Kong.
- 130 CFDs available for trading including 70 forex pairs.
- HKD is not supported for deposit or among the 12 available base currencies.
Swissquote Pros and Cons
Advantages of Swissquote
The advantages of Swissquote are listed below.
- Regulated and Trusted
- Comprehensive Product Range
- Advanced Trading Platforms
Disadvantages of Swissquote
The disadvantages of Swissquote are listed below.
- High trading Fees
- Complex Pricing Structure
- Steep Minimum Deposit Requirement
Oanda
best for beginner traders
Oanda accepts Hong Kong traders under MAS regulation. Oanda permits Hong Kong Dollar deposits. Oanda offers higher leverage for accredited investors.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Oanda
OANDA is a global multi-asset broker founded in 1996, offering trading on forex, CFDs, commodities, indices, and cryptocurrencies. OANDA provides proprietary platforms and API solutions. OANDA is regulated by multiple authorities including FCA, ASIC, and MAS. OANDA is known for competitive spreads, fast execution, and currency data services. OANDA serves both retail and institutional clients worldwide. The Oanda Chief Executive Officer is Gavin Bambury since August 2019.
Oanda Features
The features of Oanda are listed below.
- Oanda is not regulated in Hong Kong but accepts Hong Kong traders under MAS regulation as OANDA Asia Pacific Pte Ltd with license n° 200704926K.
- Dealing in OTC Derivatives Contracts with over 100 CFDs available including more than 70 forex pairs.
- Oanda allows trading with low spreads from 0.6 pip on EUR/USD and leverage up to 1:20 on forex in Hong Kong.
- Access to higher leverage up to 1:50 on forex is reserved for accredited investors who have net financial assets exceeding $1m or meet similar requirements.
- Award winner for the “Best CFD Broker Asia Pacific 2019” and “Most Popular Broker and Best Forex and CFD Broker 2020”.
- Oanda accounts can be opened only with USD but deposits can be made directly in Hong Kong Dollars (HKD).
Oanda Pros and Cons
Advantages of Oanda
The advantages of Oanda are listed below.
- Comprehensive Platforms
- Robust Education
- Highly Regulatory Trust
Disadvantages of Oanda
The disadvantages of Oanda are listed below.
- Higher Spreads
- Proprietary Platform Limitations
- Inactivity Fees
Interactive Brokers
wide range of available markets
Interactive Brokers is regulated in Hong Kong by SFC. Interactive Brokers accepts HKD for account funding. Interactive Brokers has a local office.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Interactive Brokers
Interactive Brokers is a global electronic broker founded in 1978, offering trading in stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies across 150 markets in 33 countries. Interactive Brokers provides advanced trading platforms, low commissions, and access to a wide range of financial instruments. Interactive Brokers is known for its sophisticated technology and serves both retail and institutional clients. Interactive Brokers is regulated by multiple top-tier authorities worldwide. The CEO of the Interactive Brokers Group is Milan Galik.
Interactive Brokers Features
The features of Interactive Brokers are listed below.
- Interactive Brokers Hong Kong Limited is HK SFC regulated with a type 3 license n° ADI249 providing leveraged foreign exchange trading.
- Physical office in Queensway, Admiralty, Hong Kong.
- Hong Kong Dollar (HKD) is available for account funding and is accepted as a base currency for your account.
- Deposits can be made via bank wires, Instant Local Transfer via FPS, or mailing a check.
- Interactive Brokers offer access to 130 global markets with over 7,000 CFDs including more than 100 forex pairs offered at tight spreads from 0.2 pips on EUR/USD.
Interactive Brokers Pros and Cons
Advantages of Interactive Brokers
The advantages of Interactive Brokers are listed below.
- Low Trading Fees
- Advanced Trading Tools
- Wide Market Access
Disadvantages of Interactive Brokers
The disadvantages of Interactive Brokers are listed below.
- Not user-friendly
- No MetaTrader Support
- Additional Fees
Rakuten Securities
low trading fees
Rakuten Securities complies with SFC regulations in Hong Kong. Rakuten Securities requires a 10,000 HKD minimum deposit for Hong Kong accounts. Rakuten Securities has local transfer options.
-
Regulations:
-
Avg. EUR/USD Spread:
-
Platforms:
About Rakuten Securities
Rakuten Securities is a global online broker founded in 1999, offering trading on forex, CFDs, and other financial instruments. Rakuten Securities is regulated by the HK SEC and serves over 2 million traders worldwide. Rakuten Securities provides the MetaTrader 4 platform and offers fixed spreads starting from 0.5 pips. Rakuten Securities is known for low minimum deposits and a user-friendly copy trading tool. The Rakuten Securities CEO and President is Yuji Kusunoki.
Rakuten Securities Features
The features of Rakuten Securities are listed below.
- Rakuten Securities Hong Kong Limited is HK SFC regulated with a type 3 license n° AIM232 providing leveraged foreign exchange trading.
- Physical office in Connaught Road Central, Hong Kong.
- To open an account in Hong Kong you have to meet the minimum deposit of 10,000 HKD.
- Traders with a HK bank account have local transfer options available to choose from including e-banking, FPS, ATM, and cash deposit.
- Rakuten Securities offer 2 trading platforms.
- Rakuten FX: 40 forex currency pairs with competitive and fixed spreads from 0.5 pips.
- MT4: 25 forex currency pairs with floating spreads as low as 0.3 pips.
Rakuten Securities Pros and Cons
Advantages of Rakuten Securities
The advantages of Rakuten Securities are listed below.
- Low Minimum Deposit
- User-Friendly Copy Trading
- Regulated and Secure
Disadvantages of Rakuten Securities
The disadvantages of Rakuten Securities are listed below.
- Limited Asset Selection
- Single Trading Platform
- High Fees on Certain Instruments
Is forex trading legal in Hong Kong?
Forex trading in Hong Kong is completely legal. It is regulated there by the Securities and Futures Commission of Hong Kong (SFC) which was established in 1989 and has an excellent reputation within the industry as a top regulator.
Trading forex in Hong Kong you can expect to find leverage of up to 20:1 on forex, though negative balance protection in HK is not mandatory so this is something to be mindful of, particularly as a new trader.
How to trade forex in Hong Kong
Trading forex in Hong Kong is much like in any other country, you will be asked by a regulated forex broker when you sign up to confirm a couple of key details with certain documents.
This means providing proof of ID, a passport is best, and proof of residence which you can provide through a bank statement or utility bill that is recent. These should allow you to pass the verification process, and go on to fund your account which you may be asked to do at that time.
What should Hong Kong traders look for in a forex broker?
Trading in Hong Kong, there are a few key points to look out for when choosing your forex broker. Below are a few important tips you can take on board:
1. Give priority to HK regulated brokers
Local regulation from the SFC not only means you have a well-trusted regulator in your corner, but if the broker is regulated locally, this can also make it easier to solve any issues or challenges if they do arise.
2. Negative balance protection
Since negative balance protection is not mandatory in Hong Kong, it is not offered by every broker. This means that if you do want to have this feature which can be very useful in helping you stay protected, then you should seek out a broker who does offer it.
3. Choose a broker with a great demo account
Any kind of trading can be risky. Particularly if you are new to trading, and definitely if you trade using leverage. For this reason, you should definitely try to take advantage of some of the excellent demo accounts offered by the brokers above. This is a risk-free way to learn more.
How to verify if a forex broker is regulated in Hong Kong
You may want to verify that your broker is regulated in HK.This is easy for you to double-check and you can do so by visiting the official SEC of Hong Kong website which should have all the information you need available.
Is forex trading taxable in Hong Kong?
Forex trading is taxable in Hong Kong. With that said, there is no Capital Gains Tax in HK. There is however a progressive rate of tax that you will be subject to. This is based on your net chargeable income and starts from 2% with an upper cap of 17%.
- Disclaimer: we are not tax advisors and you should always consult with a tax professional for more details on tax issues in any region.