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Forex brokers in China

 

With more than a billion population and fin-tech industry on the rise, the world’s second-largest economy is a country with huge forex market potential. Nonetheless, China is in fact one of the most frustrating jurisdictions in the world for retail forex brokerages.

 

The reason for this is the policy of the Chinese government, which doesn’t seem too keen on the forex industry, to put it mildly. There was a ban on advertising of forex trading and related services on Baidu, the largest search engine operator in China. It was lifted, however there are still a number of impediments to forex brokers in the country, such as the unclear license application procedure, problems with cross-border payments, as well as a leverage cap of 1:20, to name a few.

 

In the past couple of months, however, China has taken some steps that indicate it is trying to liberalize its financial market. Most notably, local authorities recently granted a British bank a license to hold Chinese citizens’ assets for the first time. Moreover, the Chinese government issued the first forex License to Hong Kong-based brokerage Guo Tai Jun.

 

Nevertheless, financial experts with knowledge on the Chinese forex market state that there is no clear application process for such a license and each application is pretty much reviewed on a case by case basis.

 

That being said, there are, of course, foreign forex brokers with operations in China. There have been concerns about the Chinese authorities shutting down non-Chinese FX brokers after they banned crypto currency trading in the country. Yet, it appears that the brokers licensed by reputable financial agencies such as the FCA in the UK or ASIC in Australia, are out of trouble, especially if they have physical offices in the country, like CMC Markets, or big IB network, like IG and FXCM.

 

Yet another option for foreign brokerages who wish to operate in China is through a joint venture with a partner that is 100% Chinese owned. This is what forex broker and social trading provider e-Toro has done.

Forex brokers in China

Broker Country Regulation Platforms Min.deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
UK FCA MT5 $5 Review Website

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