Check out this complete guide to compare the best forex brokers in Hong Kong. We’ve researched brokers and their regulation, fees, ease of account opening, available educational tools, and a thoroughly tested their trading platforms.
Here’s the list of the top 5 forex brokers for Hong Kong traders based on our expertise:
- Pepperstone is the best forex broker in Hong Kong 2023
- XM ⇒ One of the Cheapest MT4/MT5 FX Broker, Low Spreads
- Skilling ⇒ Best FX Trading Apps for Android users
- XTB ⇒ Excellent Forex Trading App for iOS Apple users
- Hotforex ⇒ Low Fees, Fast Account Opening
| Forex Broker | More Info | Trust Score | Benefits | Platforms | Review |
|---|---|---|---|---|---|
|  76.5% retail CFD accounts lose. | 98% |
| MT4; MT5, cTrader, TradingView | Review |
 |  73,57% retail CFD accounts lose. | 98% |
| XM Webtrader MT4 / MT5 XM Mobile App | Review |
 |  75% retail CFD accounts lose. | 98% |
| TradingView MT4 Metatrader cTrader Skilling Mobile App | Review |
 |  81% retail CFD accounts lose. | 97% |
| xStation xStation Mobile | Review |
Pepperstone — Best Forex Broker in Hong Kong
Pepperstone is a well-trusted ECN/STP CFD broker with ultra low forex spreads across 70 currency pairs.
Features
- High Quality ECN/STP Forex Broker
- Competitive FX Spreads starting from 0 Pips
- Average EUR/USD spread 0,17 pip
- Wire Transfers, Bank, Credit Cards, and E-Wallets Accepted
Pros
- Pepperstone is HKD currency forex broker
- Don’t need to pay conversion fees! With Hong Kong Dollar as a base currency, you won’t pay to convert your funds before you even start trading like you will with the other brokers.
- 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.
- 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.
XTB – Broker with the lowest minimum deposit $0
An excellent user-friendly platform xStation is what you’ll get with renowned broker XTB.
With zero deposit fees and generally very low forex spreads, you can start your journey in the forex world.
Features
- 49 Currency Pairs
- Low Forex Spreads from 0.7 Pip
- Payment Options Include China Union Pay, Neteller, PayPal, Skrill
- High quality online education for forex traders
Pros
- Great search function. When it comes to being user-friendly, XTB 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.
- HKD is not a base account currency. USD, EURO are the only base currencies. So if you have HKD Hong Kong dollar and want to deposit, it will first need to be converted into say USD.
Verdict
XTB is one of the biggest and popular Hong Kong forex brokers available on the market. With their strong focus on the trader’s success they constantly improve their online education resources including webinars and ebooks. However, if your assets aren’t in USD but only in HKD, be prepared to pay some fees for all the fx conversion you’ll need to do.
XM — Best Metatrader Broker with $30 No Deposit Bonus
With no minimum deposit needed to get started, you can make an account and explore XM now. You’ll enjoy low fees and spreads with the most options for making your deposit.
Features
- 57 Currency Pairs
- Chinese language support
- Website in traditional chinese
- Regulated by world’s top tier regulators
- Low Spreads starting from 0,1 Pips
- Many Local Payment Options Available
- Customer Support in 24 world languages
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, CHF 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 180 days to avoid an inactivity fee.
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.
Skilling — Best Forex App in Hong Kong
Skilling broker 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
- Forex Spread from 0.2 Pip
- Excellent fx trading apps for iOS/Android
- World Class forex trading platforms: cTrader, TradingView, Metatrader 4
- Min Deposit $100
- Very intuitive proprietary platform Skilling Trader
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 Skilling.
- 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
Skilling is a great choice for both novice and advanced forex traders. Enjoy low minimum deposit of just $100, 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.
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