Best Forex Brokers in Hong Kong

logomark Filippo Ucchino calendar Last Updated: November 2021 timer 12 min read
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At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

You have made your decision to start trading forex in Hong Kong. Excellent choice.

Now the only thing left to do is choose a top Hong Kong forex broker. This is where we can help!

We have put together this collection of great choices to help you select the best forex broker HK has to offer. That is not all though. Along with picking the best forex broker for your needs, you will also have the chance to review more important information.

Points like how to get started with a broker, things to look out for, and even the tax and legal side of trading forex in Hong Kong are things we have covered.

Let’s jump straight in.

Table of contents

Is Forex Trading legal in Hong Kong?

Yes. 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 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.

Top 10 Best Forex Brokers in Hong Kong

Here is a closer look at all of the best Hong Kong forex brokers we have found:

Visit Broker
72% of retail investor accounts lose money

1. Saxo Bank

Saxo Bank is top of the list as a top Hong Kong forex broker. They are regulated by the SFC under registration number #139590 and are a well-respected bank that also offers a wide range of brokerage options.

They are an extremely trustworthy choice with a great reputation in Europe and around the world though the minimum deposit required is high at $2,000 USD. With that, the higher your deposit, the more great features you can access. These include improved spreads, direct contact with the customer support team, and a host of other benefits. Being a bank, they also facilitate a good range of base currencies. This is determined by the currency of your first deposit.

At Saxo Bank, you will also find a large range of assets to trade. These number in the thousands and include not only forex pairs, but stocks, bonds, mutual funds, and more. The spread on offer from the broker also presents great value starting from a low 0.3 pips on forex trading.

81
Rated: Excellent
Security 95
Cost 67
Trading 75
Education 76

Platforms: Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FSA, MAS, FINMA, FCA, MIFID-ESMA, ASIC, SFC, FSCA, DFSA, CYSEC Minimum Deposit: 2000
Visit Broker
74-89% of retail CFD accounts lose money

2. ADSS

Next on our list and considered one of the top forex brokers HK has to offer is ADSS. They too are regulated by the SFC under registration number AXC847. The broker is based in Abu Dhabi though they offer extensive trading services to users around the world. They actually go beyond just forex trading and offer an all-round broker service that includes stocks, forex, commodities, and indices trading.

The minimum deposit at ADSS makes it an appealing choice for new traders, and excellent value starting from only $100. The fact that you can also open a swap-free account that is fully compliant with the required rules and regulations is a positive point too.

Beyond this, both new and experienced traders can enjoy great value from the low-cost trading environment created by the broker. They do their best to keep any fees to a minimum while the spreads for trading start at an extremely low 0.1 pips depending on the asset.

79
Rated: Excellent
Security 93
Cost 75
Trading 73
Education 62

Platforms: Proprietary Web Platform Regulations: FCA, SFC, DFSA Minimum Deposit: 100
Visit Broker
79% of retail investor accounts lose money

3. Swissquote

Swissquote is another of those considered among the best Hong Kong forex broker offering. The broker is regulated by the SFC and as with our top pick, they also operate as a bank with a full range of brokerage services.

Again here, as you would expect from such a well-known name in the financial sector, they offer a very large range of assets you can trade in beyond just forex trading. This includes bonds, mutual funds, and much more. There are three different account types you can choose from. These have minimum deposits that start from $1,000 USD up to $50,000 USD.

With Swissquote, one of the benefits you can get is that with a higher deposit, the spreads can be lower. This will also depend on your account type. Anyway, the spreads still start from a good value amount. The minimum you can expect is 1.1pips on major forex markets.

  • Every deposit made in SGD will apply a fee starting from 20 SGD up to 40 SGD
84
Rated: Excellent
Security 98
Cost 76
Trading 75
Education 80

Platforms: ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: FINMA, FCA, MIFID-ESMA, SFC, DFSA Minimum Deposit: 0
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(Your money is at risk)

4. Everbright Sun Hung Kai

ESHK Direct is a big-name broker and one of the main choices in Hong Kong for traders. They are Everbright Sun Hung Kai Direct known as ESHK and they boast a well-trusted reputation and background in the region that makes them a popular choice with traders.

Here you will find another extensive range of assets available that you can trade with many available as real assets as well as being tradable on margin. The range includes not only forex but also futures, shares, bonds, mutual funds, and more. With this broker, you will also have access to great trading platforms in the form of MT4, and the FXTrader Pro Platform.

Further enhancing the appeal of the broker, particularly to new traders, is the fact they cater for a trading size as low as 0.01 lots, and offer a good value spread at the same time. This spread can start from a low point of 1.6 pips on major assets like the EUR/USD.

65
Rated: Medium
Security 95
Cost 48
Trading 51
Education 38

Platforms: Proprietary Web Platform Regulations: FCA, SFC Minimum Deposit: 5000
Visit Broker
73.50% of retail investor accounts lose money

5. Oanda

Oanda is next in our selection of top Hong Kong forex brokers. Even though they are not regulated by the SFC they are still allowed to operate in the region and are a well-trusted name around the world. HK traders with Oanda have to register under the MAS (Singapore) regulated entity which has the registration number 200704926K there.

They are a very popular broker choice especially with new traders attracted by the fact no minimum deposit is needed. They also have a very low and accessible minimum trade size suitable for new traders.

You can make your deposit with Oanda by using SGD deposit methods and you will be able to utilize the SGD as your base currency when trading there. This is due to the fact that HKD is not currently supported but many traders still choose Oanda thanks also to the great low spread they can provide. This starts from 1 pip on forex trading.

80
Rated: Excellent
Security 94
Cost 70
Trading 71
Education 80

Platforms: MT4 Dekstop, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FSA, MAS, FCA, CFTC, MIFID-ESMA, ASIC, IIROC Minimum Deposit: 0
Visit Broker
81% of retail investor accounts lose money

6. FXTM

FXTM is another globally recognized broker and top name in the sector. They are also available to traders in Hong Kong and have one of the lowest minimum deposit requirements around. This stands at just $10 USD and makes them a very attractive proposition to new traders.

Alongside an excellent reputation and great value minimum deposit, you will find their ECN account available at a similarly low minimum deposit level of just $200 USD. This is appealing not only to new, but also more experienced traders with trading through MT4 also possible.

FXTM has a selection of account types available that also includes a great Islamic trading account should you need one. This account is fully compliant with Shariah Law needs. Finally, though they do not directly offer a bonus, FXTM does provide an excellent loyalty program for traders that can help reduce your costs over time.

80
Rated: Excellent
Security 94
Cost 71
Trading 71
Education 80

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, Proprietary Web Platform Regulations: FCA, MIFID-ESMA, FSCA, CYSEC, FSC (Mauritius) Minimum Deposit: 10
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68% of retail investor accounts lose money

7. eToro

eToro is a giant in the industry and the best-known broker when it comes to social and copy trading. They have a top reputation around the world and are extremely trustworthy. They also offer trading services in the majority of parts of the world, including HK.

At eToro you will find only one type of account that can be opened, the minimum deposit here is $200 but it is an extremely user-friendly proprietary platform that features a wide range of assets and capabilities. This includes not only forex and many other assets, but also as many as 80 crypto assets to trade.

eToro does only support the USD as a base currency. This means you may incur a small currency conversion fee but they are certainly accomodating of Hong Kong traders and you will be able to take advantage of a great value spread that starts from just 1 pip.

78
Rated: Excellent
Security 94
Cost 71
Trading 69
Education 63

Platforms: Proprietary Web Platform Regulations: FCA, CFTC, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: 200
Visit Broker
74-89% of retail CFD accounts lose money

8. Interactive Brokers

Interactive Brokers are another very well-known and respected broker in international terms. The American founded and based broker is regulated by the SFC and also a member of the SEHK and the HKFE which makes them extremely respectable in the region. They also present excellent value to all types of traders.

As a new trader, the fact that IB doesn’t require any minimum deposit is a great positive. This means you can get started trading in their wide range of available assets very easily. The range includes as many as 105 forex currency pairs while they also offer stockbroking and other trading possibilities.

All of this is on offer at a very low cost as a trader. This is reflected in an extremely low entry commission on stock trading alongside a great value low spread that starts from only 0.1 pips when you are trading forex.

80
Rated: Excellent
Security 95
Cost 71
Trading 71
Education 75

Platforms: Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: MAS, FCA, CFTC, MIFID-ESMA, ASIC, IIROC, SEC, CYSEC, Offshore Minimum Deposit: 0
Visit Broker
(Your money is at risk)

9. Rakuten Securities

Next for consideration as a top forex broker, HK has to offer is the Japanese broker Rakuten Securities. They are owned by Rakuten who are one of the major names in the global internet sector and among the biggest e-commerce companies in the world.

Again this broker is very well-regulated by the SFC in Hong Kong with a history of compliance and their regulation number is #AIM232 for you to double-check if desired. The broker makes trading very accessible to all thanks to a very low minimum deposit of $50 USD they have in place. With this, you can begin trading in a range of markets that includes as many as 40 major and popular forex pairs.

They are also one of the few major brokers worldwide who make trading available with fixed spreads. These spreads start from a very low 0.9 pips when you are trading major forex pairs.

76
Rated: Excellent
Security 96
Cost 75
Trading 59
Education 66

Platforms: MT4 Dekstop, MAC Platforms Regulations: MIFID-ESMA, ASIC, SFC, Offshore Minimum Deposit: 50
Visit Broker
(Your money is at risk)

10. KVB Global Capital

Last but certainly not least on our listing of the best forex brokers in Hong Kong is KVB Kunlun. They offer forex brokerage services not only in HK but across the Asian continent and are one of the largest companies to do so.

The fact is that with this broker, they are used mostly by corporations for completing major commercial transactions. With that in mind, they feature some incredibly high spreads that may be prohibitive to retail traders.

Even so, if you do decide to trade with this well-known broker, you will find a full range of services beyond forex. This includes banking services, retirement plans, insurance, and even the ability to trade in physical gold and much more.

62
Rated: Medium
Security 91
Cost 47
Trading 50
Education 34

Platforms: MT4 Dekstop, Proprietary Web Platform Regulations: ASIC, SFC, FMA Minimum Deposit: 1000

Hongkongese trader? Here’s what to look for in a forex broker

Trading in Hong Kong as with in any location, 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.

  1. 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.

  1. Choose a broker with a great demo account if you are a beginner

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

Of course, you may want to verify that your broker is regulated in HK as they say. This is easy for you to double-check and you can do so by visiting the official SEC of Hong Kong website that 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.

About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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