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Best Forex Brokers Hong Kong 2023

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Written by BrokerNotes.co

April 24, 2023

The Hong Kong Financial Market

The Hong Kong financial markets have a rather lengthy history, with the first stock market in Hong Kong dating back to the late 1800s. The Stock Exchange of Hong Kong Limited (SEHK) is presently the fourth largest in Asia and is ranked fifth in the world by market capitalisation with $3.936 trillion listed. The SEHK merged in 2000 under the HKEX Group holding company, along with the Hong Kong Futures Exchange Limited (HKFE) and the Hong Kong Securities Clearing Company Limited (HKSCC).

The SEHK, Shenzhen and Shanghai stock exchanges presently account for most of China's securities turnover and have a total market cap of $10.466 trillion. Like many of the world's stock exchanges, the SEHK has ended its open outcry trading method in favour of electronic trading, and it closed down its physical trading floor in 2017.

The SEHK's primary and oldest stock market index is the Hang Seng index that consists of 50 major listed companies. The Hang Seng Composite Index was launched in 2001 and provides a broader market benchmark covering roughly the top 95%of the exchange's total market capitalisation.

The currency used in Hong Kong is known as the Hong Kong dollar (HKD) and according to the Bank for International Settlements (BIS) it now ranks 13th among the world's most actively traded currencies by global turnover. The HKD also has a roughly 1.7%of market share in 2016.

The primary financial regulator in Hong Kong responsible for overseeing forex and Best CFD Trading Platforms trading is known as the Hong Kong Securities and Futures Commission (HKSFC). This regulatory body oversees all financial companies operating in the securities and futures market in Hong Kong. It aims to promote fairness and competitiveness within the industry without impacting market integrity.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Online Brokers for Hong Kong

Overall Rating

9.9 / 10

Minimum Deposit

£250.00

Trust Score info

Highly Trusted
99
Cost & Funding
Average Spread EUR/USD - Standard0.86
All-in Cost EUR/USD - Active0.5957
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded1974
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses7
Tier-2 Licenses2
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)19537
Forex Pairs (Total)100
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)33
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.6 / 10

Minimum Deposit

$100

Trust Score info

Highly Trusted
93
Cost & Funding
Average Spread EUR/USD - Standard0.92
All-in Cost EUR/USD - Active0.61
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses4
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)80
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.5 / 10

Minimum Deposit

€100

Trust Score info

Highly Trusted
98
Cost & Funding
Average Spread EUR/USD - Standard0.8
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2008
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses4
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)2800
Forex Pairs (Total)65
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)110
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes

Overall Rating

8.4 / 10

Minimum Deposit

$5

Trust Score info

Highly Trusted
90
Cost & Funding
Average Spread EUR/USD - Standard1.6
All-in Cost EUR/USD - Active0.8
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2009
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1429
Forex Pairs (Total)55
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.4 / 10

Minimum Deposit

$200

Trust Score info

Highly Trusted
93
Cost & Funding
Average Spread EUR/USD - Standard0.77
All-in Cost EUR/USD - Active0.87
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2010
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses2
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)2342
Forex Pairs (Total)62
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)15
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.3 / 10

Minimum Deposit

$100

Trust Score info

Trusted
87
Cost & Funding
Average Spread EUR/USD - Standard0.8
All-in Cost EUR/USD - Active0.7
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2001
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses3
Tier-2 Licenses2
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)6942
Forex Pairs (Total)80
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.2 / 10

Minimum Deposit

$200

Trust Score info

Trusted
86
Cost & Funding
Average Spread EUR/USD - Standard0.62
All-in Cost EUR/USD - Active0.62
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2007
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses1
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)3583
Forex Pairs (Total)61
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.0 / 10

Minimum Deposit

$100

Trust Score info

Trusted
82
Cost & Funding
Average Spread EUR/USD - Standard0.51
All-in Cost EUR/USD - Active0.31
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2014
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)725
Forex Pairs (Total)63
BitcoinYes
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

7.9 / 10

Minimum Deposit

$0

Trust Score info

Average Risk
74
Cost & Funding
Average Spread EUR/USD - Standard0.827
All-in Cost EUR/USD - Active0.827
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulation
Year Founded2014
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses0
Investment Options
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)26000
Forex Pairs (Total)72
BitcoinNo
Trading Platforms
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Tools
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes

Trading in Hong Kong

When it comes to stock trading, the SEHK has established itself as an attractive listing venue for Chinese companies. The SEHK originally launched the Automatic Order Matching and Execution System (AMS) before it was upgraded to AMS/3 in October of 2000. Equities now trade on the exchange via the AMS/3 electronic trading system, in addition to warrants, commodities, fixed income products and currency pairs.

Those looking to trade speculatively on the Hong Kong financial market have a number options available through online brokers that let clients operate using their trading platforms:

  • Forex Trading: Exchanging one currency for another forms the basis of forex trading. Exchange rates fluctuate as one currency rises or falls relative to another in particular currency pair. The popularity of forex trading has expanded greatly once online trading became possible. The forex market is the most liquid and largest financial market globally and had a daily turnover of $5.1 trillion/day in April 2016, according to data compiled by the Bank for International Settlements (BIS).
  • CFD Trading: Making transactions in derivative financial instruments known as Best CFD Trading Platforms allows traders to speculate on the future of their underlying assets. Such assets can consist of a currency pair, commodity, stock, stock index or other financial instruments.
  • Demo accounts: Funded with virtual money, these accounts can be used to practice trading, test a strategy or check out a broker's services and platform. Find out more on opening demo accounts.
  • Islamic accounts: These are suitable for traders who wish to trade in an account that conforms to Sharia law. Find out more on trading with an Islamic Accounts.

Opportunities of Trading in Hong Kong

A number of Hong Kong's strengths provide excellent opportunities for trading, investment and business in what is one of Asia's key economic and financial centres. According to HKTDC Research, some of Hong Kong's key advantages include the following:

  • Hong Kong is among the world's freest economies.
  • Service sector activities account for over 90% of GDP.
  • Hong Kong is the world's seventh largest exporter of merchandise and 15th largest exporter of commercial services.
  • It has the second largest forex market in Asia and the fourth largest globally in 2016.
  • The largest RMB clearing centre in 2017, with about a 76%global market share.
  • The third largest global financial centre behind London and New York.
  • Hong Kong ranked fifth globally in container throughput.
  • Hong Kong International Airport has been the world's busiest airport for international cargo since 2011.

Furthermore, Hong Kong was very favourably ranked 4th in the world when it comes to the ease of doing business by the World Bank. The country also came in 5th for starting a business and 11th for protecting minority investors, but it dropped back to 32nd for procuring credit.

Challenges of Trading in Hong Kong

Since Hong Kong makes up a significant part of China's economy, threats of a growing trade war and imposition of trade tariffs between China and the United States have weakened the HKD somewhat and have increased uncertainty in doing business in the city.

Still, any HKD-negative effect was largely reversed by the Hong Kong Monetary Authority raising its benchmark base lending rate in line with the Federal Reserve's recent rate hikes. The Hong Kong Dollar can also be subjected to significant market shocks when significant news regarding this trade issue gets released unexpectedly.

Summary

Traders will generally find Hong Kong markets well-regulated by the HKSFC, as well as accessible via modern dealing and financial technology. When a trader in Hong Kong is looking for an online broker to trade through, they will want to ensure that the firm has a suitable asset classes range, an efficient trading platform, oversight by a good financial regulator, and are sufficiently trustworthy to warrant placing a margin deposit with them.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Accepts HK Residents Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG check 9.9 £250.00 0.86 99 19537 IG Review Visit Site
Saxo Bank logoSaxo Bank check 9.7 €2,000 0.9 99 60000 Saxo Bank Review
Interactive Brokers logoInteractive Brokers check 9.7 $0 0.6 99 8500 Interactive Brokers Review
CMC Markets logoCMC Markets check 9.6 $0 0.51 99 12377 CMC Markets Review
TD Ameritrade logoTD Ameritrade check 9.5 $0 1.25 99 0 TD Ameritrade Review
FOREX.com logoFOREX.com check 9.3 $100 1.0 99 5500 FOREX.com Review Visit Site
City Index logoCity Index check 9.2 £100.00 1.0 99 13500 City Index Review
XTB logoXTB check 9 $0 1.07 95 12000 XTB Group Review
eToro logoeToro check 8.8 $10-$10,000 1 93 3458 eToro Review
Swissquote logoSwissquote check 8.7 $1000 N/A 99 466 Swissquote Review
AvaTrade logoAvaTrade check 8.6 $100 0.92 93 1260 AvaTrade Review
FXCM logoFXCM check 8.5 Starts from $50 1.38 96 440 FXCM Review Visit Site
Plus500 logoPlus500 check 8.5 €100 0.8 98 2800 Plus500 Review
Capital.com logoCapital.com check 8.4 $20 0.65 85 3152 Capital.com Review
XM Group logoXM Group check 8.4 $5 1.6 90 1429 XM Group Review
Pepperstone logoPepperstone check 8.4 $200 0.77 93 2342 Pepperstone Review
OANDA logoOANDA check 8.4 $0 1.26 92 124 OANDA Review
Admiral Markets logoAdmiral Markets check 8.3 $100 0.8 88 6942 Admiral Markets Review
FP Markets logoFP Markets check 8.3 $100 AUD 1.2 86 10000 FP Markets Review
IC Markets logoIC Markets check 8.2 $200 0.62 86 3583 IC Markets Review
Markets.com logoMarkets.com check 8.2 $100 1.9 98 2179 Markets.com Review
FxPro logoFxPro check 8.1 $100 1.51 90 2249 FxPro Review
Tickmill logoTickmill check 8.0 $100 0.51 82 725 Tickmill Review
Fineco Bank logoFineco Bank check 8.0 $0 N/A 92 126 Fineco Bank Review
BlackBull Markets logoBlackBull Markets check 7.9 $0 0.827 74 26000 BlackBull Markets Review
DooPrime logoDooPrime check 7.8 $100 N/A 84 10000 DooPrime Review
Vantage logoVantage check 7.8 $50 1.30 89 1000 Vantage Review
BDSwiss logoBDSwiss check 7.8 $100-$5000 1.6 83 1081 BDSwiss Review
TMGM logoTMGM check 7.8 $100 0.96 79 12000 TMGM Review
HFM logoHFM check 7.8 $0 1.2 85 3500 HFM Review
FlowBank logoFlowBank check 7.7 $0.00 N/A 77 408600 FlowBank Review
HYCM (Henyep) logoHYCM (Henyep) check 7.7 $100 0.6 86 362 HYCM Review
Trading 212 logoTrading 212 check 7.6 EUR 10 N/A 77 1785 Trading 212 Review
Eightcap logoEightcap check 7.6 $100 1.0 87 736 Eightcap Review
Trade Nation logoTrade Nation check 7.5 $0 0.6 83 601 Trade Nation Review
Moneta Markets logoMoneta Markets check 7.5 $50 1.27 71 965 Moneta Markets Review
ThinkMarkets logoThinkMarkets check 7.4 $250.00 N/A 86 1674 ThinkMarkets Review
VT Markets logoVT Markets check 7.4 $200 1.2 71 168 VT Markets Review
ACY Securities logoACY Securities check 7.4 $50 1.2 75 1600 ACY Securities Review
easyMarkets logoeasyMarkets check 7.3 $100 0.9 84 199 a href="/reviews/easymarkets">easyMarkets Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) check 7.3 $100 1.4 69 12000 Roboforex (RoboMarkets) Review
IronFX logoIronFX check 7.2 $50 1.2 84 340 IronFX Review
Exness logoExness check 7.2 $1 0.9 74 112 Exness Review
Spreadex logoSpreadex check 7.2 $0 N/A 70 2000 Spreadex Review
Trade360 logoTrade360 check 7.1 $250 N/A 75 1062 Trade360 Review
Axi logoAxi check 7.1 0 N/A 83 175 Axitrader Review
GKFX logoGKFX check 7.1 $0 N/A 66 354 GKFX Review
Vestle logoVestle check 7.1 -1 N/A 79 750 Vestle Review
OctaFX logoOctaFX check 7 $25 0.9 69 229 OctaFX Review
FXOpen logoFXOpen check 7 $100 N/A 80 87 FXOpen Review
TeleTrade logoTeleTrade check 7 $100 N/A 67 500 Teletrade Review
FXPrimus logoFXPrimus check 6.9 $100 N/A 69 140 FXPrimus Review
Forex4you logoForex4you check 6.9 $0 N/A 62 150 Forex4you Review
LegacyFX logoLegacyFX check 6.9 $500 N/A 66 425 LegacyFX Review
GBE brokers logoGBE brokers check 6.8 $500 N/A 69 500 GBE Brokers Review
Alpari logoAlpari check 6.8 $20 N/A 67 105 Alpari Review
TopFX logoTopFX check 6.7 Depends on payment method N/A 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) check 6.7 $10 N/A 72 300 Libertex Review
ATFX logoATFX check 6.6 $500 N/A 70 150 ATFX Review
UFX logoUFX check 6.6 $100 3 67 619 UFX Review
Xtrade logoXtrade check 6.5 $250 N/A 80 142 Xtrade Review
Tradeo logoTradeo check 6.4 $200 N/A 67 256 Tradeo Review

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