Trading the USD/HKD is an excellent way to access the world’s two largest economies, the US and China. However, its fixed self-correcting system makes it best suited to experienced forex traders. This page will cover everything you need to know about trading the cross currency pair, from exchange spot rates to trends and forecasts. We also list the best brokers for trading the USD/HKD.
Best USD/HKD Brokers
Based on our routine evaluations, these are the best 6 brokers for trading USD/HKD:
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- Demo account
- Regulator: ASIC, CySEC, FSA, SCB, CMA-Kenya
- Min. deposit: $200
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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
- Platforms: eToro Web, CopyTrader, TradingCentral
- Min. deposit: $50
61% of retail CFD accounts lose money. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. -
- Demo account
- Regulator: CySEC, MISA
- Platforms: MT4, MT5
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- Demo account
- Platforms: WebTrader, App
- Min. deposit: $100
81% of retail CFD accounts lose money.
Learn how we test brokers and why you can trust our ratings.
Here is a short overview of each broker's pros and cons
- IC 4.8/5 IC Markets (now IC) is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 200,000 clients from over 200 countries.
- 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.
- eToro 4.0/5 eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Crypto investments are risky and may not suit retail investors. You could lose your entire investment. Understand the risks here. 61% of retail CFD accounts lose money.
- FXCC 4.6/5 FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Comoros Union and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
- Plus500 4.1/5 Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.
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 |
|---|---|---|---|---|---|
| IC | 2 | ||||
| Pepperstone | 3678 | ||||
| Fusion Markets | 10051 | ||||
| eToro | 32200 | ||||
| FXCC | 220 | ||||
| Plus500 | 20087 |
IC
IC (formerly IC Markets) offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.
Christian Harris, Reviewer
IC quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator
- ASIC, CySEC, FSA, SCB, CMA-Kenya
- Platforms
- MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower
- Minimum Deposit
- $200
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
- Currency Pairs
- USD/CHF, USD/JPY, USD/CNH, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, USD/HKD, USD/SGD, USD/THB
Pros
- IC secured DayTrading.com's 'Best MT4/MT5 Broker' in 2025 for its seamless, industry-leading MetaTrader integration, refined over years to maximize the platform experience.
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- IC offers fast and dependable 24/7 support based on firsthand experience, particularly when it comes to accounts and funding issues.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
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
- Currency Pairs
- USD/CHF, USD/JPY, USD/CNH, EUR/CNH, GBP/CNH, NZD/CNH, EUR/AUD, EUR/SGD, EUR/TRY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/JPY, NZD/SGD, USD/HKD, USD/INR, USD/SGD, USD/THB
Pros
- Pepperstone has started providing trading in pre-IPO perpetual futures like SpaceX (SPCX.US-PERP) in select regions, such as the UAE.
- 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.
- Offers a dedicated CopyTrading app for traders who want a less active approach to trading, available in some countries.
Cons
- 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.
- Despite improvements to its range of markets, crypto CFD offerings are still fairly limited compared to other brokers who focus on this area, such as Eightcap, and there's no option to invest in real coins.
- 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.
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
- Currency Pairs
- USD/CHF, USD/CNH, EUR/AUD, EUR/JPY, EUR/SGD, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/JPY, GBP/ZAR, NZD/SGD, USD/HKD, USD/INR, USD/SGD, USD/THB
Pros
- Fusion Markets is set up to support algo traders with a sponsored VPS solution and a 25% discount if you opt for the NYC Servers VPS for MT4 or cTrader.
- 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.
- Withdrawal processing times have been slashed to under an hour and can be processed 24/7, making it faster and easier for active traders to withdraw any gains.
Cons
- There is no proprietary trading platform or app built with beginners in mind, a notable drawback compared to AvaTrade.
- Fusion Market trails alternatives, notably IG, in the education department with limited guides and live video sessions to upskill new traders.
- While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.
eToro
eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers.
Christian Harris, Reviewer
eToro quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs
- Regulator
- FCA, CySEC, MiCA, MFSA, FSRA, ASIC, FSAS, MAS, GFSC
- Platforms
- eToro Web, CopyTrader, TradingCentral
- Minimum Deposit
- $50
- Minimum Trade
- $10
- Account Currencies
- USD, EUR, GBP, AUD, DKK
- Currency Pairs
- USD/JPY, EUR/AUD, EUR/JPY, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/HUF, GBP/JPY, USD/HKD, USD/SGD
Pros
- Charts are powered by TradingView and offer strong technical analysis features, including 9 chart types and over 100 indicators.
- eToro picked up second place in DayTrading.com's 'Best Crypto Broker' for 2025 with its huge range of tokens, reliable service and competitive fees.
- In 2025, eToro stopped including all crypto trading fees within the spread - instead, the same commission is now charged separately and shown as a clear line item, giving active traders more transparency without increasing overall costs.
Cons
- There are limited contact methods aside from the in-platform live chat.
- There are no guaranteed stop loss orders which would be a useful risk management feature for beginners.
- There is a $30 minimum withdrawal amount and a $5 fee, which will affect novices with low capital.
FXCC
FXCC continues to prove itself an excellent option for day traders with a particularly strong selection of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and a free VPS for qualifying traders.
Jemma Grist, Reviewer
FXCC quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Metals, Energies, Crypto
- Regulator
- CySEC, MISA
- Platforms
- MT4, MT5
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD
- Currency Pairs
- AUD/CAD, AUD/CHF, AUD/JPY, AUD/NOK, AUD/NZD, AUD/SEK, AUD/SGD, AUD/USD, CAD/CHF, CAD/JPY, CHF/DKK, CHF/JPY, CHF/NOK, CHF/PLN, CHF/SGD, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/HKD, EUR/HUF, EUR/JPY, EUR/MXN, EUR/NOK, EUR/NZD, EUR/PLN, EUR/SEK, EUR/SGD, EUR/TRY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/DKK, GBP/JPY, GBP/NOK, GBP/NZD, GBP/PLN, GBP/SEK, GBP/SGD, GBP/USD, GBP/ZAR, HKD/JPY, MXN/JPY, NOK/JPY, NOK/SEK, NZD/CAD, NZD/CHF, NZD/JPY, NZD/SGD, NZD/USD, SEK/JPY, SGD/JPY, TRY/JPY, USD/CAD, USD/CHF, USD/CNH, USD/CZK, USD/DKK, USD/HKD, USD/HUF, USD/JPY, USD/MXN, USD/NOK, USD/PLN, USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/ZAR, ZAR/JPY
Pros
- FXCC’s ECN XL account has been built with active traders in mind, featuring spreads from 0.0 with no commission, while also passing our execution speed benchmark for day traders.
- Customer support still relies on human agents with response times of under three minutes on live chat during our tests and knowledgeable reps - a welcome break from the frustrating AI chatbots increasingly offered by brokers.
- FXCC has stepped up its offering over the years, adding MT5 to its suite of platforms, hundreds of stocks and more cryptos to its product line-up, plus a copy trading feature and greater margin trading opportunities.
Cons
- FXCC charges steep withdrawal fees on many of its payment methods, including $45 for bank transfers and 2% crypto transfers, which may cut into the returns of traders making regular withdrawals.
- Although FXCC has bolstered its range of markets with US, European and Asian stocks, the choice of metals and energies is light, and there are no soft commodities.
- Although regulated by the CySEC, FXCC’s offshore entity operates with weak regulatory oversight from MISA and may not provide safeguards like investor compensation in the event of broker insolvency.
Plus500
Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources.
Christian Harris, Reviewer
Plus500 quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs on Forex, Stocks, Indices, Commodities, ETFs, Options, Crypto
- Regulator
- FCA, CySEC, EFSA, ASIC, FMA, FSCA, MAS, ISA, FSA, DFSA, SCA, JFSA, SCB, CIRO, BAPPEBTI, OJK, BI
- Platforms
- WebTrader, App
- Minimum Deposit
- $100
- Minimum Trade
- Variable
- Account Currencies
- USD, EUR, GBP, AUD, ZAR, CZK
- Currency Pairs
- EUR/AUD, EUR/JPY, EUR/SGD, EUR/CAD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/JPY, GBP/ZAR, USD/HKD, USD/SGD
Pros
- Plus500 provides a specialized WebTrader platform designed explicitly for CFD trading, offering a clean and uncluttered interface
- The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp
- AI Bites has been added, giving active traders real-time, AI-generated market summaries, technical analysis, and social sentiment next to charts, aiding in short-term trading decisions
Cons
- Algo trading and scalping are not supported, which may deter some day traders
- Compared to some competitors, especially IG, Plus500’s research and analysis tools are limited
- Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced day traders looking for familiarity
Chart
The Hong Kong Dollar
Hong Kong is one of the most attractive free-market economies for foreign investment. Its stock market is the 6th largest and its exchange fund has become one of the world’s biggest with reserves totalling 442 billion USD at the end of 2020. This is all rather impressive given the size of the island state.
Hong Kong is also widely considered a gateway into the Chinese mainland and despite the nation’s best efforts, its fortunes are becoming increasingly tied to the Asian superpower. As a result, any geopolitical events tied to China can impact the volatility of the USD/HKD.
USD/HKD History
In 1983, the Hong Kong dollar was pegged to the US dollar. After months of unease, the HKD hit an all-time low of 9.6 HKD per USD. As a result, the nation abandoned the floating exchange rate and pegged the HKD to the USD in an attempt to stabilise the currency.
Today, the USD/HKD pair typically trades between narrow limits, 7.75 and 7.85, as fixed by the Hong Kong Monetary Authority (HKMA). The fixed system self-corrects to maintain the stability of the HKD exchange rate.
Over its history, the pair has seen tumultuous times and maintaining the peg has not been easy. The US’ low-interest rates have caused problems for the HKMA, which has been forced to match them. As a result, property prices and the Hong Kong exchange rate have increased dramatically in recent years.
Influences On USD/HKD Movement
The USD/HKD is special in that many of the economic factors that influence movement in most currency pairs have a limited effect on the USD/HKD. Labour market conditions plus interest and inflation rates all have a muted effect on the pair given that it operates between a fixed, pre-determined range. As a result, many speculative investors are put off and generating profit requires skill and patience.
Fortunately, some factors still influence the quoted price of the HKD/USD:
- Economic growth – The strength of an economy is often reflected in the value of its currency. When the Hong Kong economy is strong, HKD will rise against the USD. Conversely, a weakened Hong Kong economy will see the HKD fall against the USD.
- China – Hong Kong is closely linked with China which means that changes in the value of the Chinese yuan can heavily influence the value of the USD/HKD. This was seen during the Asian financial crisis when the HKD rose towards its upper limit several times. Usually, the currencies move in the same direction.
- Political stability – Political turmoil and major events can have huge implications on the value of a currency. Generally speaking, stability is likely to attract foreign investment and increased investment will lead to an appreciation in the currency’s quoted price.
- Market sentiment – If the value of the USD is expected to fall, there will be less demand as investors will typically need more of it to bank profit. A drop in value can mean more expensive exports and reduced competitiveness in global markets. Hong Kong relies on both imports and exports, so any change is felt heavily.
Pros Of Trading USD/HKD
- The Chinese economy – Hong Kong’s close ties with China means that for many, the HKD represents an accessible way to engage in the Chinese economy. China takes in more than half of Hong Kong’s exports and currently stands as the second-largest global economy. China’s position on the world stage is a real draw for many forex traders.
- Risk/reward ratio – Given the pegging of the USD/HKD pair, the risk/reward ratio is favourable. The assurance of a bottom limit means that traders can operate within relatively safe parameters. This does mean, however, that generating large profits can prove challenging.
- Liquidity – The forex market generally promises a highly liquid environment with low bid-ask spreads. This makes FX trading popular over assets, such as stocks and cryptos.
- Costs – Transaction costs are usually incorporated into the spread and pips in forex markets, meaning traders typically don’t have to factor in additional commissions.
Cons Of Trading USD/HKD
As with any forex pair, trading USD/HKD does come with risks:
- Re-pegging – If HKD was to be re-pegged to the USD or even the CNY, it would have drastic implications for investments. Traders should ensure they are up to date with the latest financial news and conversion forecasts. Risk and money management strategies should also be implemented.
- Leverage – Leveraged trading is popular in the forex market but it does carry increased risk. Margin trading should only be used by traders comfortable with greater exposure.
- Political intervention – Political unrest, as seen in recent riots in Hong Kong, can have major implications on the pair’s valuation. Keep an eye on announcements from the Chinese government to stay ahead of trends.
USD Vs HKD Strategy Options
When it comes to USD/HKD strategy, different tactics work for different people. Capital requirements, timescales and risk tolerance will all play a role. Whether you choose to use exchange rate historical data and monthly averages or live charts and forward rates, different tools work for different traders.
Trading News
For those less interested in trading using USD/HKD historical exchange rates, live charts, graphs and forecasts, financial news is a great source of information to help inform investment decisions. Economic reports on the latest inflation and interest rates, GDP and consumer sentiment can all influence movement. Traders should stay abreast of updates to react quickly. The first movers stand the best chance of asserting an edge.
Oanda, Reuters, Yahoo Finance, DailyFX, online converters, TradingView and MarketWatch are just a handful of the resources available to traders. They provide live forex updates in addition to forecasts, daily USD/HKD buy and sell swap rates, plus commentary.
Carry Trading
Carry trading is a popular strategy that enables investors to capitalise on low interest rates. Traders borrow more in currencies with lower interest rates and invest in high-yielding markets. The demand creates inflows of capital which strengthens a currency.
The recent widening of the gap between Hong Kong and US interest rates has seen a surge in investors opening new carry trade positions. The relatively low-interest rates of the HKD means that some investors will look to borrow against the USD and invest in the HKD.
USD/HKD Forecasts
There is speculation that the HKD will be re-pegged amid concerns that the peg may be limiting growth in Hong Kong. Adjustments to the peg range or a peg break would allow for greater movement. There is also talk that the Hong Kong dollar could be pegged to the Chinese yuan in the future. However, the possibility of a slowdown in Chinese economic growth may halt that move for now.
There is also some discussion about the long-term prosperity of the Hong Kong dollar. Some experts argue that with the increasing Chinese influence over the state, the outlook is looking bleak for the HKD, which may become redundant.
Final Word On Trading USD/HKD
The narrow range of the USD/HKD cross currency pair means that it can be difficult to generate profit and traditional strategies don’t always yield the same results. For many, the pair’s potential primarily lies in business transactions and swaps. For those that do wish to trade the pair, it presents an opportunity to gain access to the relatively closed-off Chinese economy.
FAQ
What is the USD to HKD exchange rate history?
The pair has seen a tumultuous history which has led to fluctuations in the quoted price of both the US and Hong Kong dollar. The currency peg has stabilised much of this but with speculation over the adoption of a new peg, who knows what the future holds.
What is the USD to HKD dollar conversion?
The current exchange rate is displayed on a live price chart. This shows how many Hong Kong dollars are needed to buy 1 US dollar. This rate will fluctuate within the fixed limits established by the HKMA.
What influence does the BoC have over the USD/HKD?
The integration of Hong Kong’s economy with China means that the Bank of China exerts influence over the position of the HKD. Anticipating announcements from the BoC can help inform investment decisions.
What are the best HKD to USD forex converters?
There are many free, currency converters available online. For more information on USD/HKD rates, ETFs and futures, try Oanda.
What is the USD and HKD peg history?
In 1983, the Hong Kong dollar was pegged against the US dollar in an attempt to stabilise the currency. Today, it continues to operate between the established fixed limits. With that said, there is talk that the peg may be removed or amended in the future.