The brokers we cover — and who actually regulates them
We cover five internationally licensed brokers: **Base Markets** (our free-signals partner, FSC Mauritius), **ActivTrades**, **XM**, **Pepperstone** and **Capital.com**. None of them holds a Hong Kong SFC licence — Hong Kong residents are onboarded by offshore entities, and we say so on every review rather than leaving you to discover it after a dispute. Start with [best trading brokers Hong Kong](/signals/guides/best-trading-brokers) for the SFC-licensed alternatives, or [Base Markets](/brokers/base-markets) if the free signals path is what you came for.
★ Simple, low-cost — and your signals come free
01BMBase Markets
★★★★★★★★★★4.7/54.7 / 5
The lowest barrier to entry: deposits from $0 and spreads from 0.0 pips on MT5 — plus our full trading signals service free when you fund your account with $400 (roughly HK$3,120) through our link. It is our rank 1 for that commercial reason, not for its regulation.
Get the signals free
Min. deposit
$0
Spreads from
0.0 pips
Platforms
MetaTrader 5
Regulation
FSC
Pros
Deposits from $0 — the lowest entry barrier of the five brokers we cover
Competitive spreads from 0.0 pips
The full MetaTrader 5 platform with all its tools
Cons
MT5 only — no MT4 support
No SFC licence: a Hong Kong resident is a client of a Mauritian entity, outside SFC supervision, the SFC complaint route and the Investor Compensation Fund
Authorised by the UK's Financial Conduct Authority (ActivTrades PLC, firm reference 434413) with FSCS protection up to £85,000 for UK-entity clients, founded in 2001, and no deposit or withdrawal fees — but no SFC licence for Hong Kong residents.
Min. deposit
$0
Spreads from
0.5 pips
Platforms
ActivTrader, MetaTrader 4, MetaTrader 5
Regulation
FCASCBCMVM
Pros
Long-standing UK FCA licence (ActivTrades PLC, firm reference 434413) with FSCS protection up to £85,000 for UK-entity clients
Operating since 2001 — one of the industry's longest track records
Three platforms: the proprietary ActivTrader plus MT4 and MT5
Cons
No SFC licence — Hong Kong residents are not onboarded by an SFC-licensed corporation, so no SFC complaint route and no Investor Compensation Fund coverage
Its international entity publishes that 84% of retail investor accounts lose money trading CFDs — the highest figure of the brokers we cover
Licensed by ASIC, CySEC and the DFSA in Dubai, genuine swap-free accounts with no spread widening, both MT4 and MT5, and deposits from just $5 (roughly HK$39) — but no SFC licence for Hong Kong residents.
Min. deposit
$5
Spreads from
0.6 pips
Platforms
MetaTrader 4, MetaTrader 5
Regulation
ASICCySECDFSAFSC
Pros
Multiple respected licences — ASIC, CySEC and the DFSA in Dubai
Swap-free accounts with no spread widening in exchange
Deposits from just $5 (roughly HK$39)
Cons
No SFC licence — a Hong Kong resident's account sits outside SFC supervision and the Investor Compensation Fund
Standard-account spreads are higher than the Zero account's
The widest platform line-up of the brokers we cover — MT4, MT5, cTrader and TradingView — with spreads from 0.0 pips on the Razor account. Hong Kong residents are onboarded by Pepperstone Markets Limited, licensed by the Securities Commission of The Bahamas (SIA-F217), not by an SFC-licensed corporation.
Min. deposit
$0
Spreads from
0.0 pips
Platforms
MetaTrader 4, MetaTrader 5, cTrader, TradingView
Regulation
SCBFCAASICCySECBaFinDFSA
Pros
The widest platform choice of the brokers we cover: MetaTrader 4, MetaTrader 5, cTrader and TradingView
Raw spreads from 0.0 pips on the Razor account with a transparent per-lot commission
Tier-one licences elsewhere in the group — FCA, ASIC, BaFin, CySEC and DFSA
Cons
No SFC licence: a Hong Kong resident is onboarded by Pepperstone Markets Limited in Nassau, so no SFC supervision, no SFC complaint route and no Investor Compensation Fund coverage
The Bahamian entity publishes that 79.6% of retail investor accounts lose money trading CFDs with this provider
Visit brokerRisk warning (Pepperstone, Jul–Sep 2026): 72.9% of retail investor accounts lose money when trading CFDs with this provider under FCA and CySEC, 75.2% under BaFin, 79.6% under SCB and 75–95% under CMA. The figure depends on the licensed entity your account is opened with. Make sure you understand how CFDs work and whether you can afford the high risk of losing your money.Read review
05CCapital.com
★★★★★★★★★★4.5/54.5 / 5
A slick multi-asset broker with 3,000+ markets, zero-commission spread-only pricing, and MT4, MT5, TradingView and API access alongside its own app. Hong Kong residents are onboarded by Capital Com Online Investments Ltd, licensed by the Securities Commission of The Bahamas (SIA-F245), not by an SFC-licensed corporation.
Min. deposit
$20
Spreads from
0.6 pips
Platforms
Capital.com web & app, MetaTrader 4, MetaTrader 5, TradingView, API
MetaTrader 4, MetaTrader 5, TradingView and API access alongside a well-regarded native app
Zero-commission, spread-only pricing with a low $20 (roughly HK$156) minimum
Cons
No SFC licence: a Hong Kong resident is onboarded by Capital Com Online Investments Ltd in The Bahamas, outside SFC supervision and the Investor Compensation Fund
The international entity publishes that 79.75% of retail investor accounts lose money trading CFDs
Open accountRisk warning (Pepperstone, Jul–Sep 2026): 72.9% of retail investor accounts lose money when trading CFDs with this provider under FCA and CySEC, 75.2% under BaFin, 79.6% under SCB and 75–95% under CMA. The figure depends on the licensed entity your account is opened with. Make sure you understand how CFDs work and whether you can afford the high risk of losing your money.Read review
Capital.com web & app, MetaTrader 4, MetaTrader 5, TradingView, API
Trading forex and CFDs involves substantial risk of loss. Hong Kong's securities and leveraged foreign exchange markets are supervised by the Securities and Futures Commission (SFC), and the brokers we cover onboard Hong Kong residents through offshore entities that hold no SFC licence — our signals are analyst opinions, not investment advice.
Ready to start?
Save up to $2,500/yr (roughly HK$19,500)
Get the signals free
Open a trading account with Base Markets through our link and deposit $400 (roughly HK$3,120) — the capital stays in your account, yours to trade — and you unlock full signals access free, replacing a subscription worth around $2,500/yr (roughly HK$19,500). Base Markets is licensed by the Financial Services Commission of Mauritius, not by the SFC.
1Open a Base Markets account through our link
2Deposit $400 (roughly HK$3,120) — the capital stays yours to trade
3Send your proof on Telegram and get every signal free
No broker account needed — subscribe through our Telegram bot and start receiving every signal with a clear entry, take-profit and stop-loss, so you can trade them at an SFC-licensed firm if that is what you prefer.
Trading forex and CFDs involves substantial risk of loss. Hong Kong's securities and leveraged foreign exchange markets are supervised by the Securities and Futures Commission (SFC), and the brokers we cover onboard Hong Kong residents through offshore entities that hold no SFC licence — our signals are analyst opinions, not investment advice.
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Trading forex, CFDs and crypto carries a substantial risk of loss and is not suitable for every investor. In Hong Kong, dealing in securities and leveraged foreign exchange trading are licensed activities supervised by the Securities and Futures Commission (SFC) — the brokers reviewed here are onboarded offshore and hold no SFC licence, so no SFC complaint route and no Investor Compensation Fund coverage applies to those accounts. Our signals are analyst opinions, not guaranteed profits, and past performance does not guarantee future results.