Broker | Country | Rating | Min. Deposit | Website |
UK, Cyprus, Hong Kong | /5 | $100 | Read the review | |
Hong Kong | /5 | 5000 | Read the review | |
Marshall Islands | /5 | $100 | Read the review | |
New Zealand, Hong Kong | /5 | N/A | Read the review | |
Hong Kong | /5 | 5000 EUR | Read the review |
Hong Kong, vibrant, densely populated urban center in southeastern China, along New York and London is also one of the major global financial hubs.
It has a sound regulatory regime overseen by four government institutions – the Hong Kong Securities and Futures Commission (SFC), the Hong Kong Monetary Authority, the Office of the Commissioner of Insurance and the Mandatory Provident Fund Schemes Authority.
SFC oversees the securities and futures markets, including the Hong Kong Stock Exchange – the seventh largest stock exchange in the world, as well as all brokers, investment advisers, fund managers and intermediaries, dealing in securities, futures contracts and leveraged foreign exchange trading, providing automated trading services, securities margin financing, asset management, credit rating services and advising on securities, futures contracts and corporate finance.
The SFC was created in 1989 in response to the stock market crash of 1987, and even though it is considered to be a part of the government, it functions independently under the local laws governing securities and futures.
As far as forex trading is concerned all forex brokers in Honk Kong have to maintain a minimum paid-up capital in the amount of 5 mln. Hong Kong Dollars (about 640 000 USD) and to participate in an Investor Compensation Fund, where the insured amount of the trading capital is caped at 150 000 USD and covers only trading in securities and futures contracts and not leveraged forex trading.
Another SFC measure, aimed at protecting investors, is an obligatory clause, included in all FX brokers Terms and Conditions, according which traders can claim damages if they have been sold or recommended financial products, not reasonably suitable for them.
SFC also keeps a Public Register of Licensed Persons and Registered Institutions, which is daily updated and is publicly accessible.