Brokers With HKD Accounts

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Written By
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Written By
Christian Harris
Christian is a seasoned journalist with decades of experience. He transitioned from tech journalism to finance to follow his interest in investing. He has been trading stocks, futures, forex, and cryptocurrencies for more than 5 years, becoming an eToro Popular Investor. With hands-on expertise across various assets, he offers valuable trading insights.
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James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Fact Checked By
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Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
Updated

The Hong Kong dollar (HKD) is pegged to the US dollar (USD), offering stability and reduced currency volatility, making it an appealing choice for traders in Hong Kong to base their trading accounts.

The Linked Exchange Rate System (LERS) has been a cornerstone of Hong Kong’s monetary policy since 1983. It maintains a stable exchange rate between the HKD and the USD, keeping it within a narrow band of HKD 7.75 to USD 7.85.

Explore DayTrading.com’s best brokers with HKD accounts based on our experts’ in-depth evaluations.

Best Brokers With HKD Accounts

After hands-on tests, these are the 5 top brokers that support HKD accounts:

Click a broker for details
  1. 1
    IG
    Forex trading involves risk. Losses can exceed deposits.

    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.8 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
  2. 2
    OANDA US
    CFDs are not available to residents in the United States.

    Ratings
    4.5 / 5
    3.5 / 5
    2.8 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.3 / 5
    3.8 / 5
    4.7 / 5
    3.7 / 5

    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
    OANDA Trade, MT4, TradingView, AutoChartist
    Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD
  3. 3
    Moomoo
    Get up to 15 free stocks worth up to $2000

    Ratings
    4.8 / 5
    3.3 / 5
    3 / 5
    3.8 / 5
    3 / 5
    2 / 5
    3.8 / 5
    4.4 / 5
    4.6 / 5
    3.3 / 5

    $0
    $0
    1:2
    SEC, FINRA, MAS, ASIC, SFC
    Stocks, Options, ETFs, ADRs, OTCs
    Desktop Platform, Mobile App
    Wire Transfer, ACH Transfer
    USD, HKD, SGD
  4. 4
    Gemini

    Ratings
    2 / 5
    3 / 5
    2 / 5
    2.5 / 5
    3 / 5
    2 / 5
    2.5 / 5
    3 / 5
    0 / 5
    0 / 5

    $0
    0.00001 BTC
    NYDFS, MAS, FCA
    Cryptos
    ActiveTrader, AlgoTrader, TradingView
    Bitcoin Payments, Credit Card, Wire Transfer, Visa, Mastercard, Silvergate Bank Transfer, Ethereum Payments, ACH Transfer, PayPal, Etana
    USD, EUR, GBP, CAD, AUD, HKD, SGD
  5. 5
    Zacks Trade

    $2500
    $3
    FINRA
    Stocks, ETFs, Cryptos, Options, Bonds
    Own
    Wire Transfer, ACH Transfer, Cheque
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Here is a short overview of each broker's pros and cons

  1. IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
  2. OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
  3. Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
  4. Gemini - Gemini is a cryptocurrency exchange set up in 2014 by the Winklevoss brothers, known for their early involvement in Facebook. The exchange is among the world’s 20 largest and most popular. Gemini clients can trade and stake 110+ cryptocurrencies, with derivatives trading available in some jurisdictions, an advanced proprietary platform and additional features including an NFT marketplace.
  5. Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.

Brokers With HKD Accounts Comparison

Brokers With HKD Accounts Comparison
Broker HKD Account Minimum Deposit Markets Regulator
IG logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
OANDA US logo
$0 Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) NFA, CFTC
Moomoo logo
$0 Stocks, Options, ETFs, ADRs, OTCs SEC, FINRA, MAS, ASIC, SFC
Gemini logo
$0 Cryptos NYDFS, MAS, FCA
Zacks Trade logo
$2500 Stocks, ETFs, Cryptos, Options, Bonds FINRA

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
RegulatorFCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
PlatformsWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:250 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met

Cons

  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

Jemma Grist, Reviewer

OANDA US Quick Facts

Demo AccountYes
InstrumentsForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
RegulatorNFA, CFTC
PlatformsOANDA Trade, MT4, TradingView, AutoChartist
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

  • The broker offers a transparent pricing structure with no hidden charges
  • The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC

Cons

  • There's only a small range of payment methods available, with no e-wallets supported
  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."

Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus OfferGet up to 15 free stocks worth up to $2000
Demo AccountYes
InstrumentsStocks, Options, ETFs, ADRs, OTCs
RegulatorSEC, FINRA, MAS, ASIC, SFC
PlatformsDesktop Platform, Mobile App
Minimum Deposit$0
Minimum Trade$0
Leverage1:2
Account CurrenciesUSD, HKD, SGD

Pros

  • There are reduced options contract fees from $0.65 to $0
  • Moomoo's analytics and insights are impressive and detailed compared to other brands
  • Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients

Cons

  • There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
  • It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
  • There is no phone or live chat support - common options at most other brokers

Gemini

"Gemini’s ActiveTrader platform and TradingView integration make it a good choice for serious crypto traders seeking a reliable charting environment, though we were disappointed by some unnecessary fees and previous security breaches."

Michael MacKenzie, Reviewer

Gemini Quick Facts

Demo AccountNo
InstrumentsCryptos
RegulatorNYDFS, MAS, FCA
PlatformsActiveTrader, AlgoTrader, TradingView
Minimum Deposit$0
Minimum Trade0.00001 BTC
Account CurrenciesUSD, EUR, GBP, CAD, AUD, HKD, SGD

Pros

  • The trading app features a user-friendly, modern design and intuitive interface, with an excellent range of charting tools for day traders
  • Crypto perpetual futures are available in many jurisdictions with up to 1:100 leverage
  • There is a decent range of educational guides and tutorials suitable for beginners

Cons

  • There is no practice profile or demo account for prospective traders
  • There are high fees for some funding methods including a 3.49% fee for card transactions
  • The 'convenience fee' for using the mobile app seems arbitrary and makes it inefficient to use this feature

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."

Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo AccountYes
InstrumentsStocks, ETFs, Cryptos, Options, Bonds
RegulatorFINRA
PlatformsOwn
Minimum Deposit$2500
Minimum Trade$3
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

  • Regulated by FINRA with access to the Securities Investor Protection Corporation
  • Customizable proprietary trading platform and mobile app
  • 20+ account denominations

Cons

  • No MT4 or MT5 platform integration
  • Withdrawal fees apply if removing funds more than once per month
  • High minimum requirement of $2,500

How Did We Choose The Best Brokers?

To determine the top trading platforms offering HKD accounts, we followed a comprehensive evaluation process:

  • Leveraged our vast directory of 267 online brokers and trading platforms.
  • Filtered for the platforms that support Hong Kong dollar accounts.
  • Assigned a rating to each platform based on quantitative data (100+ points) and qualitative assessments from our testing.

What Is A HKD Account?

A HKD account is a trading account whose base currency is Hong Kong dollars.

This account type offers a range of benefits, including the ability to avoid currency conversion fees, mitigate exchange rate risk, and efficiently deal in local assets like stocks and IPOs.

This convenience makes it an ideal choice for active traders involved in Hong Kong’s financial markets.

This is what my OANDA trading account looks like, denominated in HKD.

In my account settings, I simply selected ‘HKD’ from the list of base currencies.

author image
Christian Harris
Author
Selecting Hong Kong Dollar (HKD) as the base currency for an OANDA trading account
OANDA Account Settings

Do I Need A HKD Trading Account?

Consider a HKD trading account if:

How Can I Check If A Broker Offers An Account In Hong Kong Dollars?

To check whether an online broker or trading platform supports a HKD account, follow these simple steps:

  1. Look for the ‘Account Options’ section on the broker’s website to find the currencies you can use for your trading account.
  2. Confirm that ‘HKD’ is listed as a supported base currency for your trading account.
  3. Sign up for a trading account and specify ‘HKD’ as your base currency.

Pros & Cons Of HKD Trading Accounts

Pros

  • Hong Kong-based day traders can avoid fees and risks associated with exchanging currencies, mainly when trading HKD-denominated assets, leading to cost savings.
  • A HKD account provides seamless trading on the HKEX and allows easy participation in Hong Kong IPOs and other local investment opportunities.
  • The HKD’s peg to the USD offers exchange rate stability, reducing currency volatility and minimizing forex-related risks.

Cons

  • A HKD account is primarily suited for trading in Hong Kong markets, and converting funds to other currencies for international trades may incur additional costs and delays.
  • Many brokers do not offer stocks listed on the HKEX, which can disadvantage HKD account holders who want to avoid currency conversion fees when trading securities denominated in different currencies.
  • The HKD’s peg to the USD means the US Federal Reserve influences interest rates and monetary policy, which could impact local investments even if unrelated to Hong Kong’s economic conditions.

FAQ

Which Is The Best Broker With A HKD Account?

Our experts have rigorously tested the best day trading platforms with HKD accounts.

Explore our curated list of the best trading platforms with HKD accounts to find the perfect fit for your trading needs.

How Much Does It Cost To Open A Trading Account Based In Hong Kong Dollars?

If you want to start trading with HKD, you’ll be pleased to know that many brokers require a minimum deposit of up to USD 250 (approximately HKD 1,950).

But there are exceptions. IG, for instance, has a much lower entry barrier with no minimum deposit, making it an ideal choice for beginners seeking a HKD-based trading account.

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