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Hong Kong Forex Brokers

The regulatory body responsible for the licensing and supervision of forex brokers in Hong Kong is the Hong Kong Securities and Futures Commission (SFC).

 

The SFC licensing procedure is a long and complicated one, involving submission of various documents, fit and proper test for officials representing the firm, and maintaining adequate accounting and control systems. The commission also exercises supervision over licensed companies, performing on-site reviews and off-site monitoring to assess and monitor their financial soundness and ascertain and supervise whether their business conduct is in line with regulatory requirements.

 

What is more, Hong Kong forex brokers must maintain a minimum paid-up share capital and liquid capital of HK$5 million (or an equivalent amount in any other approved currency) and should keep adequate accounting and control systems.

 

As most reputable financial jurisdictions, the Hong Kong one also has established an Investor Compensation Fund to compensate investors who suffer losses as a result of defaults of licensed intermediaries or authorized financial institutions. The compensation limit is $150,000 per investor for trading in securities and futures contracts. Unfortunately, only exchange-traded products are covered.

 

In addition, amendments to the Code of Conduct for regulated companies were introduced in December 2015, according to which SFC license holders are obliged to include a clause in client agreements, allowing investors to claim damages if the intermediary is selling or recommending a financial product that is not reasonably suitable for the client. 

 

SFC keeps a Public Register of Licensed Persons and Registered Institutions - a database of securities, futures and leveraged foreign exchange intermediaries which are licensed by, or registered with the SFC to carry on business in Hong Kong. The commission updates the register on a daily basis and anyone can easily check whether a certain broker is duly regulated by the Hong Kong Commission.

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Hong Kong Forex Brokers

Broker Country Regulation Platforms Min.deposit Review
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
US, UK, Australia, Canada, Japan CFTC/NFA, FCA, ASIC MT4, Web,
ForexTrader,
Tradable
$50 Review
Denmark, UK FSA, FCA, ASIC Web, SaxoTrader $10 000 Review
Switzerland FINMA Advanced Trader $1 Review
UAE, Hong Kong Central Bank of UAE MT4, Orex Prime $100 Review
Hong Kong, Australia, New Zealand SFC, ASIC, FMA MT4 $1000 Review
Hong Kong SFC MT4, SHK Forex $5000 Review
Hong Kong SFC MarketSpeed FX,
Trading Station
None Review
Australia ASIC, SFC MT4 $500 Review
Hong Kong None MT4, Web $100 Review
Hong Kong None MT4 $50 Review
Hong Kong None MT4 $300 Review
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