hong kong stock account 2026/us stock broker mainland china/IBKR mainland china/futu tiger restrictions/overseas chinese broker account

HK and US Stock Accounts in 2026: Which Brokers Still Accept Sign-Ups?

TradeSmart TeamFeb 21, 202610 min read

Contents

If you tried to open a Futu or Tiger Brokers account in the second half of 2025 with a mainland China ID, you already know: the door has essentially closed. What used to be a straightforward online process now requires proof of overseas residency -- and for most applicants, that proof simply does not exist.

This article covers what actually changed, why it changed, and -- more practically -- which brokers you can still realistically open an account with in 2026 depending on where you are.

TL;DR: Quick Answer

Your situation	Broker options
Mainland China resident (no overseas residency)	Very limited. IBKR technically accepts but requires proof of overseas employment/residency. Firstrade still accepts some mainland applicants.
Overseas Chinese (Australia, Singapore, Canada, etc.)	moomoo, IBKR, Tiger, Futu (local entity), Firstrade
Hong Kong resident	Futu (HK entity), moomoo HK, Tiger HK, IBKR HK, Chief Securities, Webull HK
Planning to relocate overseas	IBKR or Firstrade before you leave; open the account while you still have valid overseas address proof

What Happened in 2025

The restrictions did not arrive overnight. Chinese regulators had been signaling discomfort with cross-border brokerage platforms serving mainland residents since at least 2021. The logic from Beijing's side comes down to two things: capital outflow controls and offshore income tax enforcement.

In September 2025, the situation escalated significantly. Futu Securities announced that new mainland account applicants must hold overseas permanent residency -- Hong Kong or Macau ID cards being the only currently supported options during what they described as a "system upgrade." Tiger Brokers went a step further and stopped accepting applications from mainland residents who provided only evidence of working or living overseas, requiring non-mainland identification entirely.

Interactive Brokers, which had been seen as the more stable Western alternative, followed with its own tightening. IBKR removed its app from Chinese app stores and began requiring new mainland clients to provide proof of overseas employment or residency from within the previous three months.

Longbridge, Webull's various entities, and other smaller platforms either restricted or shut their mainland pipelines around the same period. By late 2025, virtually no major broker was offering a simple mainland ID-only application path.

The underlying regulatory push is connected to China's stricter enforcement of offshore income tax declarations -- the government sent formal notices to citizens with offshore investment accounts, requiring income disclosure. Brokers operating internationally have legal incentive to reduce their exposure to this compliance gray area.

Brokers That Still Accept Accounts in 2026

Conditions here change faster than any article can track. Treat the information below as a starting point, verify directly with each broker before applying, and pay close attention to what documents you can actually provide.

Interactive Brokers (IBKR / 盈透证券)

IBKR remains the most globally accessible broker for investors with any legitimate overseas connection. It is US-regulated (SEC/FINRA), holds client assets in segregated accounts, and has been operating since 1978 -- the institutional-grade option for individual investors.

Who can open an account: Mainland China residents with verifiable proof of overseas employment or residency. Overseas Chinese (Australia, Singapore, US, Canada, UK, etc.) can apply straightforwardly.

Minimum deposit: None technically, but maintaining a small balance (around $2,000 USD equivalent) is practical for meaningful trading.

Markets: US stocks, HK stocks, A-shares via Connect, ETFs, options, futures, bonds, and more. Genuinely comprehensive.

Pros: Strongest regulatory standing, lowest margin rates, direct market access, global market coverage. If you plan to hold this account for ten or twenty years regardless of what Chinese regulations do, IBKR is the most defensible long-term choice.

Cons: The platform interface feels designed for professionals, not beginners. Customer support can be slow. The app works in China via VPN access only (app was removed from mainland app stores in 2025). Mainland applicants now face a tougher application process.

For a broader look at how IBKR compares against other HK brokers, see our Hong Kong stock broker comparison.

moomoo (Futu's International Brand)

moomoo is the international-facing brand operated by Futu. The key distinction: moomoo is NOT available for mainland China residents opening accounts with mainland IDs. The restrictions that hit Futu also affect moomoo for mainland-based users.

However, if you are an overseas Chinese resident -- particularly in Australia, Singapore, the US, Canada, Malaysia, or Japan -- moomoo remains a strong option with a modern platform and competitive fee structure.

Who can open an account: Australian residents, Hong Kong residents (via moomoo HK), Singapore residents, US residents, and most major non-mainland markets. Not available for mainland China address applicants.

Minimum deposit: Around A$0 minimum in Australia, though you need to fund before trading.

Markets: US stocks, HK stocks, A-shares (via Stock Connect for eligible accounts), Australian stocks (on the AU platform), ETFs.

Pros: Clean interface, strong research tools, HK IPO subscriptions available, relatively low commissions on HK and US markets.

Cons: Not an option if you are currently resident in mainland China. Data privacy questions have been raised by Australian media regarding Futu's ownership structure.

For overseas Chinese in Australia specifically, our moomoo Australia review covers the sign-up process, fees, and what to watch out for. Australian and Hong Kong users can sign up through this link.

Firstrade (第一证券)

Firstrade is a US-based, FINRA-regulated broker that has historically catered to Chinese-speaking investors. It still operates a Chinese-language interface and Chinese customer service, and -- unlike Futu and Tiger -- has not implemented mainland residency proof requirements as of early 2026.

Who can open an account: Firstrade lists China among its accepted countries. Mainland residents using a China ID and a valid Chinese bank account have reported successful applications, though this may change.

Minimum deposit: $0.

Markets: US stocks, ETFs, options, mutual funds. No HK stock access.

Pros: Zero commissions on US stocks, genuinely Chinese-friendly interface and support, no minimum balance, US-regulated.

Cons: US equities only -- if you want HK stock access you need a second account elsewhere. The platform is functional but not as polished as moomoo or Futu.

Chief Securities (致富证券)

Chief Securities is a traditional Hong Kong-based broker licensed by the SFC. As of early 2026, it continues to accept applications from mainland China residents using domestic identification documents, which makes it one of the few direct HK broker paths still available.

Who can open an account: Hong Kong residents and mainland China residents with valid mainland ID.

Minimum deposit: HK$10,000 recommended for promotional benefits, though technically you can start lower.

Markets: HK stocks, US stocks (via their platform), China A-shares via Stock Connect.

Pros: SFC-licensed Hong Kong entity, accepts mainland IDs directly, Chinese-language support.

Cons: Older platform interface compared to Futu or moomoo. Less name recognition internationally. Less research tooling.

IBKR Hong Kong Entity

Worth noting separately: if you have a Hong Kong address or valid HK residency, you can open under IBKR's Hong Kong entity, which operates under SFC licensing. This is a cleaner path than the mainland application route and avoids the overseas proof-of-employment requirement.

Brokers That Have Restricted Mainland Access

For completeness:

Futu (富途): Mainland ID applicants blocked. HK residents can still use the Futu HK entity. Australian and other overseas residents use the moomoo brand.

Tiger Brokers (老虎证券): Requires non-mainland identification. Mainland residents with overseas residency may still qualify but the process is more complex than it used to be.

Longbridge (长桥): Followed similar restrictions as Futu and Tiger in 2025.

Webull (必贝证券): Among the first to exit -- closed all mainland accounts in 2024, ahead of the broader wave.

Broker Comparison Table

Broker	Mainland China residents	Overseas Chinese	HK residents	US stocks	HK stocks	Min. deposit
IBKR	Overseas proof required	Yes	Yes (HK entity)	Yes	Yes	$0
moomoo	No	Yes	Yes (HK entity)	Yes	Yes	$0
Firstrade	Yes (currently)	Yes	Limited	Yes	No	$0
Chief Securities	Yes	Yes	Yes	Yes	Yes	HK$10,000
Futu	No	Yes (moomoo brand)	Yes	Yes	Yes	$0
Tiger	Non-mainland ID required	Yes	Yes	Yes	Yes	$0

Getting Money Into Your Account

For mainland China residents, the funding question is almost as complicated as the account opening question. The annual personal FX conversion quota is USD 50,000, and wire transfers abroad require bank compliance checks that have become stricter. For smaller amounts, many investors use third-party payment services where permitted.

For overseas Chinese -- particularly those in Australia -- international bank transfers and services like Wise work well for funding IBKR or moomoo accounts in USD or HKD. We will cover funding methods in a separate guide.

Useful reference: if you are trying to participate in HK IPOs without a HK bank card, see our HK IPO without HK bank card guide, and for zero-friction account options, the zero barrier HK stock account guide covers some workarounds worth knowing.

How We Compiled This

We track broker policy changes across Chinese financial news sources (Yicai, TMTPost), English-language regulatory filings, and direct checks against broker help centers and country eligibility pages. The September 2025 wave of restrictions was covered by multiple independent outlets and confirmed against official broker announcements.

This article reflects information available as of February 2026. Broker policies in this space are changing faster than usual -- always verify current account eligibility on the broker's own website before applying.

We do not accept payments from brokers for positive coverage. The moomoo link in this article is an affiliate link; it does not influence the analysis.

FAQ

Q: Can I keep my existing Futu or Tiger account if I already have one from before the restrictions?

Generally yes. The restrictions apply to new account openings, not to accounts that were already open and in good standing. However, there are reports of existing accounts being reviewed, and some users have received requests for updated documentation. Keeping your account funded and active appears to reduce the chance of a compliance review being triggered.

Q: Is it legal for a mainland China resident to open an overseas brokerage account?

There is no law explicitly prohibiting individual mainland residents from holding overseas brokerage accounts. However, you are required to declare offshore income and investment gains for tax purposes. The regulatory gray area is not about legality of holding the account -- it is about brokers' compliance obligations when serving mainland customers across borders.

Q: What happens if I open an account using an overseas address but I am actually based in mainland China?

This would constitute a false declaration and creates real risk: the broker could freeze or close the account, and you could face compliance consequences. The risk is not theoretical -- brokers are conducting more document verification than before. Using accurate information is the only advisable approach.

Q: I am moving overseas next year. Should I open an account now or wait?

Open it once you have a legitimate overseas address you can document. Most brokers require proof of address (utility bill, bank statement, rental agreement) from within the last one to three months. If you open the account shortly after arriving, you will have the documentation needed and the account will be properly tied to your actual residency status.

Q: Does IBKR report my account to Chinese tax authorities?

IBKR complies with FATCA (for US tax reporting) and has agreements under international tax information exchange frameworks. If your account is linked to a Chinese TIN or if you are a Chinese tax resident, your account information may be shared under CRS (Common Reporting Standard) arrangements. This is a real consideration and worth discussing with a tax professional if your situation is complex.

The landscape for mainland-based investors has clearly narrowed in 2025. For those already overseas, the options remain reasonably good -- IBKR and moomoo cover most needs between them. For mainland residents still looking for a path, Chief Securities and Firstrade are worth checking, but do it with realistic expectations and accurate documentation.

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