Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services.
At FX Empire, we stick to strict standards of a review process.
Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.
Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.
Headquarters:Building 25, MATAM, Haifa, Israel
76.4% of retail CFD accounts lose moneyPlus500 ReviewMORE
Regulated By:AMF, ASIC, BaFin, CONSOB, FCA, FSB
Headquarters:0 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom
70.24% of retail investor accounts lose moneyFXCM ReviewMORE
Headquarters:Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus
75% of retail CFD investors lose moneyeToro ReviewMORE
cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, Zulutrade
Despite the fact that Hong Kong has a strict regulator, there are still plenty of scammers around trying to lure customers to trade with them and then run off with their money. There are a few things you have to consider while in search of a Forex broker in Hong Kong.
Firstly, it has to be regulated by HKSFC. Then, it has to provide its customers with an easy to use trading platform. It also has to offer low commissions, as trading with high commissions eats up your profit. You should also expect to be offered a number of accounts to choose from depending on the amount of money you are planning to invest. The broker must have excellent customer service. And, although it is not compulsory, a lot of additional valuable services should be there. They show the brokers attitude towards you and their willingness to invest their own money in the business.
The world has been moving forward in terms of the regulation of financial markets. Despite the fact that in some developing countries Forex regulation is not clear and in some it is even considered to be illegal to trade currencies, in the Western world it is legal and strictly regulated. Each financial crash around the globe has brought about stricter rules for brokers, lowered maximum leverage, increased margin requirements and ousted lots of unregulated brokers. Some countries, which did not have any regulation in the area have already started forming a legal framework for supervision and monitoring of local Forex markets.
As Hong Kong is one of the centers of financial markets it does have a strict regulator HKSFC, which stands for Hong Kong Securities and Futures Commission. It came about in 1987 after stock markets around the World crashed. The crash started with the Hong Kong stock market and spread to the rest of the World. So, the newly founded regulator introduced strict regulatory measures so that similar events would not happen again. HKSFC issues licenses to brokers who want to operate in the area and then supervises and monitors those brokers how they comply with the rules set by the agency. It carefully monitors all markets operations in Hong Kong and authorizes every product before it is offered by its regulated brokers to their customers. It also analyses complaints from investors about their brokers and punishes the guilty party according to its transgression.
The trading platform will be your tool to trade currencies or any other securities so you need to check what a regulated broker offers you. First of all, you will have to download a demo version from their website and familiarize yourself with it. You will be able to see if it is good enough, easy enough to use and if it has all the necessary features that you need. If not, you can go to another broker and see what platform he has. Nowadays, most brokers will offer the popular Metatrader 4 platform and a browser version of their own webtrader. Choose whichever platform you want, but do not forget to test it before opening a real money account.
On each trade you make a broker gets paid. How? By means of a spread. A spread is the difference between the buy and sell price. The most popular pair EUR/USD typically has 1 or 2 pip spread between buy and sell prices. So, when you open a buy or sell position in the pair you have a loss of those 1 or 2 pips. That is your brokers commission. The same is true with other pairs with higher spreads. You should choose a broker with the lowest spreads because each operation reduces your profits and if spreads are high your profits will decrease significantly.
After you have tried a demo account and got to know how things work on your best brokers platform you may proceed to open a real money account and you may start with a micro.
The account is good for those who have very little money to invest ($100-500). Most brokers will offer you that and you will be able to trade real money with small risk. One micro lot size is 1 thousand US dollars and one pip price is just $0.10.
If you have tried micro or you simply want to trade bigger amounts of money a mini account could be just for you. You can open it with $500-2000 (recommended amount is $2000) and start trading mini lots (the size $10 000).
If you intend to become an independent trader and have over $10000 you may consider opening a standard account. The recommended amount for it is 20 thousand US dollars and a standard lot size is 100k. As you may understand risks increase exponentially with trading such big volumes, so you need to control your risks or you may lose all of your invested money.
Not all brokers treat their customers equally. You need to find a broker who shows the greatest care for his clients. The minimum that you should expect is service in your local language or dialect, online live help customer line that is there 24 hours on the working days and a functional problem-solving team that will reply to your request in a fast, caring and efficient manner.
Forex brokers often offer a lot of extra free services. That is a sign of good business culture. They invest their own money to give their clients as much in return as possible. They hire economists and financial people to write or record various analytical materials, give insights into the state of global economy and predictions about changes in policy of Central Banks. You may get free Ebooks on a variety of topics and with some brokers can even participate in trading contests and get big money prizes.
A Hong Kong trader has excellent opportunities to find a regulated broker and more or less safely invest in the biggest market of the World. The article outlined the key points which will help you to choose the best brokers among the regulated ones. We have created a list of the very best Hong Kong brokers below based on our own in depth research. We wish you great success in your career as a trader.
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.
Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.
The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third partys services, and does not assume responsibility for your use of any such third partys website or services.
FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.
FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.