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 6 top brokers that support HKD accounts:
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- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
73-89% of retail investor accounts lose money when trading CFDs -
- Demo account
- Regulator: ASIC, VFSC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, DupliTrade
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- Demo account
- Regulator: FCA, ASIC, FSCA, VFSC, CIMA
- Min. deposit: $50
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- Demo account
- Regulator: ASIC, CySEC, FSA, FSCA, FSC, SCB, CMA-Kenya
- Min. deposit: $0
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- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
-
- Demo account
- Regulator: ASIC, CySEC, FSC, FSA
- Platforms: GO TradeX™, MT4, MT5, cTrader, TradingView
Learn how we test brokers and why you can trust our ratings.
Here is a short summary of why we think each broker belongs in this top list:
- Pepperstone 4.8/5 Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 830,000 clients worldwide. It offers access to 1,400+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, helping to ensure a secure environment for day traders at all levels.
- Fusion Markets 4.6/5 Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.
- Vantage 4.7/5 Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to millions of clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
- FP Markets 4.2/5 Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to day traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.
- IG 4.8/5 Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers a top-tier 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.
- GO Markets 4.6/5 Established in 2006, GO Markets is an award-winning CFD broker offering a choice of accounts, pricing models and reliable execution, catering to active traders. We’ve been impressed with their continuous product updates over the years, notably the introduction of MT5 and TradingView, new stock CFDs, a PAMM service, plus local payment options for traders in Latin America.
Brokers With HKD Accounts Comparison
| Broker | HKD Account | Minimum Deposit | Markets | Regulator |
|---|---|---|---|---|
| Pepperstone | ✔Yes | $0 | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting | FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya |
| Fusion Markets | ✔Yes | $0 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | ASIC, VFSC, FSA |
| Vantage | ✔Yes | $50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | FCA, ASIC, FSCA, VFSC, CIMA |
| FP Markets | ✔Yes | $0 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto | ASIC, CySEC, FSA, FSCA, FSC, SCB, CMA-Kenya |
| IG | ✔Yes | $0 | CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only) | CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA, CONSOB |
| GO Markets | ✔Yes | $0 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto | ASIC, CySEC, FSC, FSA |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| Pepperstone | 3703 | ||||
| Fusion Markets | 10181 | ||||
| Vantage | 15742 | ||||
| FP Markets | 10359 | ||||
| IG | 10162 | ||||
| GO Markets | 758 |
Pepperstone
Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/5 support (18h a day on weekends).
Christian Harris, Reviewer
Pepperstone quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting
- Regulator
- FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing and friendly agents knowledgeable about its products and trading tools.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
- Pepperstone has started providing trading in pre-IPO perpetual futures like SpaceX (SPCX.US-PERP) in select regions, such as the UAE.
Cons
- Pepperstone has removed support for several tools that elevated the trading experience for active retail traders, notably Autochartist, Capitalise.ai and a free VPS for qualifying traders (now only pro traders in some countries).
- Execution may not feel as reliable in fast markets as headline speeds suggest. In our own testing, execution was fast at desired prices, but some community complaints focus on slippage, stop-loss fills and spread-sensitive order triggers during volatile conditions.
- Overnight holding fees are higher than that found with some Market Maker brokers (usually Benchmark + 2.5%). This makes pepperstone an ideal broker for day traders and forex scalpers but less suitable for swing traders who often keep position open overnight.
Fusion Markets
Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC.
Jemma Grist, Reviewer
Fusion Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator
- ASIC, VFSC, FSA
- Platforms
- MT4, MT5, cTrader, TradingView, DupliTrade
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- Fusion Markets continues to impress with its pricing that provides tight spreads with below-average commissions that will appeal to active day traders.
- Average execution speeds of around 37 milliseconds are noticeably faster than many rivals and can help day traders secure optimal prices in fast-moving markets.
- The market analysis features, Market Buzz and Analyst Views, are great tools for discovering opportunities and conveniently integrated into the client dashboard.
Cons
- While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.
- There is no proprietary trading platform or app built with beginners in mind, a notable drawback compared to AvaTrade.
- The demo account expires after 30 days, limiting its potential as a useful trading tool alongside a real-money account.
Vantage
Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly.
Jemma Grist, Reviewer
Vantage quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator
- FCA, ASIC, FSCA, VFSC, CIMA
- Platforms
- ProTrader, MT4, MT5, TradingView, TradingCentral, DupliTrade
- Minimum Deposit
- $50
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
Pros
- There are no short-term strategy restrictions with hedging and scalping permitted
- The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side (Pro ECN account)
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
Cons
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
FP Markets
FP Markets strikes an ideal balance between affordability and quality for active traders. They’ve managed to keep trading costs low while expanding their investment offering, charting tools, and research features, all while providing excellent support you can rely on for urgent trading queries.
Christian Harris, Reviewer
FP Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto
- Regulator
- ASIC, CySEC, FSA, FSCA, FSC, SCB, CMA-Kenya
- Platforms
- Iress, MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- With MetaTrader, cTrader, Iress and more recently TradingView, FP Markets is one of the most accommodating brokers in terms of platform choice.
- FP Markets has integrated top-notch research tools from Trading Central and Autochartist, helping traders identify short-term opportunities based on chart patterns, indicators, and other technical factors.
- FP Markets delivers fast and dependable support, available 24/5 with average response times of less than 1 minute during testing.
Cons
- FP Markets trails the best MetaTrader brokers, despite offering a Trader's Toolbox on MT4, just 130 instruments are available, limiting opportunities for serious traders, especially compared to Pepperstone with its 1,300 assets.
- FP Markets’ Iress platform is only available to clients in Australia. It also primarily emphasizes stock trading over forex trading, and data fees can accumulate rapidly unless you're an active trader or maintain a high-balance account.
- While pricing in the Raw account is excellent, spreads in the Standard account trail the cheapest brokers with a 1.1-pip average spread on the EUR/USD compared to the 0.8-pip average at IC Markets.
IG
IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and robust trade execution for experienced day traders.
Christian Harris, Reviewer
IG quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only)
- Regulator
- CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA, CONSOB
- Platforms
- Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
Pros
- IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus added US-listed futures and options as well as an AI Index, providing diversification opportunities.
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust.
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our 'Best Trading App' award.
Cons
- 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.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
- IG applies an inactivity fee of $12-$18 per month after 2 years, deterring casual investors.
GO Markets
GO Markets is best suited to active CFD traders who prioritize low spreads, transparent pricing, and fast execution on powerful charting platforms like MT4, MT5, cTrader, and more recently TradingView. Its GO Plus+ account, with raw spreads from 0.0 pips and low commissions, is a particularly great fit for scalpers and high-frequency traders.
Christian Harris, Reviewer
GO Markets quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto
- Regulator
- ASIC, CySEC, FSC, FSA
- Platforms
- GO TradeX™, MT4, MT5, cTrader, TradingView
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, CHF, HKD, SGD
Pros
- GO Markets excels in making complex topics digestible and fostering a community-like learning environment. Its educational suite stands out with courses, webinars, podcasts, and even weekly live coaching sessions - ideal for newer traders.
- The introduction of PAMM accounts and multiple copy trading services cater to both beginner and advanced traders, while the rebate program rewards high-volume day traders looking to reduce costs.
- Support for MT4, MT5, cTrader, and most recently TradingView ensures you can use industry-leading platforms, all with efficient execution and robust charting tools.
Cons
- GO Markets still relies entirely on third-party platforms with no proprietary charting platform, which may limit innovation or tailored features for more advanced traders.
- Despite reasonable multi-asset coverage, our tests showed a limited choice in categories like commodities and indices, with only around 15 indices and 10 commodities.
- During testing, we found that GO Markets restricts TradingView access in demo mode unless you first register a live account - a limitation that jars with firms offering full platform access in demo from the outset.
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 143 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.
Christian HarrisAuthor
Do I Need A HKD Trading Account?
Consider a HKD trading account if:
- You live in Hong Kong. With a HKD account, tax reporting is easier as you don’t need to track foreign exchange gains or losses, making accounting more straightforward.
- You frequently trade HKD-denominated assets, such as stocks on the Hong Kong Stock Exchange (HKEX), and want to eliminate fees associated with currency conversion.
- You want to avoid exposure to foreign exchange risks that could impact profits when trading Hong Kongese securities or converting to other currencies.
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:
- Look for the ‘Account Options’ section on the broker’s website to find the currencies you can use for your trading account.
- Confirm that ‘HKD’ is listed as a supported base currency for your trading account.
- 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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