Best Forex Brokers Hong Kong

When you’re trading forex from Hong Kong, you want to work with brokerages you can trust. And in the rapidly growing forex market, it can be difficult to sift through all the international forex companies and find the best choice quickly.

For those looking for the best forex brokers suitable for Hong Kong traders, you’re in luck. We’ve compiled a list of the best of the best. These meet everything you’re looking for and offer good regulation, educational tools, and a user-friendly platform.

However, each of the fx brokers will have unique features, advantages, and drawbacks to factor into your decision.

Check out this complete guide to compare the best brokers in Hong Kong and be on your way to creating an account today.

#1, Pepperstone — Best Forex Broker in Hong Kong

Regulated in the UK, Germany, Cyprus, Australia, United Arab Emirates, Bahamas, and Kenya, Pepperstone is a well-trusted platform for all forex needs. And with HKD as a base currency,

Pepperstone is perhaps one of the absolute best choices for Hong Kong forex traders. 

Features

  • 62 Currency Pairs
  • Commissions and Fee Vary by Choice of Account
  • Generally Lower Forex Fees
  • Wire Transfers, Bank, Credit Cards, and E-Wallets Accepted

Pros

  • Don’t pay conversion fees. With HKD as a base currency, you won’t pay to convert your funds before you even start trading like you will with the other platforms.
  • No inactivity fees. Take a break from the forex market whenever you need to and don’t pay a fee for doing so.
  • Choose the payment structure you prefer. Some want to avoid commissions while paying a larger spread. Others want just the opposite. You can choose how to pay with several account options and payment structures available.

Cons

  • Specializes in CFD’s. This is a plus for people familiar with CFD’s but something that new traders should be aware of. CFD’s are not suited for beginners, and you may need a platform that doesn’t focus on this strategy, like eToro.
  • Higher costs for overnight positions. Want to see how your position will change overnight? You’ll need to pay extra.

Verdict

With the ability to choose your payment structure and some of the best educational materials available, you’ll love trading with low spreads, no inactivity fees, and no conversion fees for HKD.


#2, eToro — Best Social Trading Platform for Hong Kong Residents

An excellent user-friendly platform is what you’ll get with eToro. You can even follow leaders in the community or become a leader yourself. Without commission to pay, you can start making a big profit in the forex world.

Features

  • 49 Currency Pairs
  • Commission Free
  • Low Forex Spreads
  • Payment Options Include China Union Pay, Neteller, PayPal, Skrill, and more
  • Exclusive Social Trading

Pros

  • Social trading. If you want to learn from successful traders, you’ll love social trading. Quickly and easily copy other successful portfolios (Copy Trader) and bundle various assets under a similar strategy and theme (Smart Portfolios).
  • Great search function. When it comes to being user-friendly, eToro takes the cake. Easily search and find the assets you’re looking for and trade in seconds.
  • Interactive charts and analyst data. Easily get access to market insights and use their resources to understand the data better.

Cons

  • Limited customer service support. Live chat is limited to Club members only, and there isn’t 24/7 or phone support. However, once you get in contact with customer support, they offer relevant, easy-to-understand answers.
  • Only one base currency. USD is the only base currency, so any other currencies will first need to pay conversion fees before trading even begins.

Verdict

eToro is one of the biggest and popular Hong Kong forex brokers on the market. With their social trading and analyst resources available, it’s easy to see why. However, if your assets aren’t in USD, be prepared to pay for all the converting you’ll need to do.

 


XTB — Best CFD Broker

With no minimum deposit needed to get started, you can make an account and explore XTB now. You’ll enjoy low fees and spreads with the most options for making your deposit.

Features

  • 57 Currency Pairs
  • Commission Free Under a Certain Amount
  • Low Forex Spreads
  • The Most Payment Options Available

Pros

  • More base currencies are available. Although HKD isn’t one of the base currencies, there are five base currencies. So, if you have money in USD, EUR, GBP, HUF, or PLN, you can avoid conversion fees.
  • New flows and trading ideas. Regularly get insights into the market and inspiration for your next trade.
  • Great desktop design. Seamlessly transition from a desktop to a mobile device to continue trading, and don’t miss a beat.

Cons

  • Inactivity fees. You’ll have to make deposits and keep trading at least every 90 days to avoid an inactivity fee.
  • High CFD fees. Although most of the offerings from XTB are CFDs, stock CFD fees are high.

Verdict

The inactivity fee may be a dealbreaker for beginners in the market. But with low fees and more base currencies available, this is a great choice amongst Hong Kong forex brokers. And with most deposits and withdrawals free of fees, you can seamlessly start forex trading.


Plus500 — Best Mobile Experience

Plus500 is an Israeli company that focuses on a seamless, digital experience on its mobile app. It’s perhaps best for seasoned forex traders who want to enjoy the least fees and don’t need extra features like copy trading or news flows.

Features

  • 70 Currency Pairs
  • Commission Free
  • Average Spreads
  • Least Amount of Payment Options

Pros

  • No withdrawal fees. When you make money, you shouldn’t have to pay to access it. That’s why you’ll love having no withdrawal fees from Plus500.
  • Easily avoid inactivity fees. Although an inactivity fee is part of the platform, you can easily avoid it by just logging in rather than needing to make a deposit.
  • 24/7 customer service. Get support whenever you need it and take advantage of live chat.

Cons

  • No desktop platform. While the mobile platform is strong, that may be because there isn’t a desktop version. While this won’t be a problem for some, you may prefer to have a desktop version available.
  • Limited research tools. Advanced forex traders may not need the support system, but having good research and educational materials is best for beginners.

Verdict

Looking for one of the Hong Kong forex brokers that’s on the stock exchange and discloses its financials? Plus500 is a great choice. Enjoy low minimum deposits, no withdrawal fees, and the most currency pairs to trade. It makes up for its lack of educational resources with one of the most user-friendly mobile apps for seamless, fast trading online.


FAQ Frequently Asked Questions:

Q: Is Forex trading legal in Hong Kong ?

Yes forex is legal in Hong Kong.

Q: Who regulates local forex trading brokers in Hong Kong ?

Government financial markets regulatory agency “Hong Kong Securities And Futures Commission (HKSFC)”. Check out here the list of licensed providers.

Q: What are HKD currency forex brokers ?

You can deposit HKD and keep your trading account in Hong Kong Dollars with Pepperstone broker.


Conclusion

Forex trading has become a great way to make a big profit. And with the strength and stability of the Honk Kong dollar, it’s a great currency for starting your trading journey.

However, not all platforms are also Hong Kong forex brokers. To participate legally from Hong Kong, you’ll need to work with a forex provider that has the proper regulations and protections for your assets such as these brokers above.

So before you start forex trading, explore this list of the top Hong Kong forex brokers. Give yourself plenty of time to research and make your decision based on the unique features each offer.