Hong Kong Stock Brokers Compared: Fees, Features, and Who They Suit
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Choosing a broker for Hong Kong stocks is not as simple as picking the cheapest one. Commission rates get all the attention, but your actual experience depends on a mix of platform quality, market access, regulatory protection, and support -- and none of the major brokers excel at everything.
We looked at six brokers that cover the most common scenarios for Hong Kong stock investors: Futu (moomoo), Interactive Brokers, Tiger Brokers, HSBC InvestDirect, Bank of China Securities, and Phillip Securities. Some are built for cost-conscious active traders, others for traditional investors who want a familiar banking interface, and a couple try to sit somewhere in between.
This is not a ranking. The right broker depends on how you trade, how much you trade, and what else you need beyond a buy button.
How We Evaluated
Our comparison is based on publicly available fee schedules, platform testing, and feedback from investors across Hong Kong, Australia, and mainland China who trade HK-listed stocks. We assessed each broker against seven dimensions:
- Commission and fees -- headline commissions, platform fees, minimum charges, and hidden costs like inactivity fees or data subscriptions.
- Platform quality -- mobile and desktop experience, charting tools, order types, and general reliability during market hours.
- Market access -- whether the broker offers only HKEX or also provides access to US, A-share, and other markets from a single account.
- Minimum deposit -- initial funding requirements and whether they create a meaningful barrier for smaller investors.
- Research tools -- screeners, analyst coverage, Level 2 data, and educational resources.
- Customer support -- languages supported, response speed, and channel availability (phone, chat, email).
- Regulation -- which authority oversees the broker, what investor protections exist, and how client assets are held.
We did not accept any sponsorship or compensation from these brokers. Where we have reviewed a broker in more detail elsewhere on this site, we link to that review.
Comparison Table
| Futu (moomoo) | Interactive Brokers | Tiger Brokers | HSBC InvestDirect | BOC Securities | Phillip Securities | |
|---|---|---|---|---|---|---|
| HK Stock Commission | 0.03% (min HK$3) | 0.08% (min HK$18) | 0.06% (min HK$15) | 0.25% (min HK$100) | 0.25% (min HK$100) | 0.25% (min HK$100) |
| Platform Fee | HK$15/order | None | HK$15/order | None | None | None |
| US Stock Access | Yes | Yes | Yes | Yes (limited) | No | Yes |
| A-Share Access (Stock Connect) | Yes | Yes | Yes | Yes | Yes | Yes |
| Minimum Deposit | None | None (USD 0) | None | HK$10,000 | HK$10,000 | None |
| Mobile App Quality | Excellent | Functional but dense | Good | Basic | Basic | Adequate |
| Level 2 Data | Free (HK + US) | Paid add-on (~US$10/mo) | Paid (HK$40/mo) | Not available | Not available | Paid |
| Research Tools | Strong | Extensive | Moderate | Basic | Basic | Moderate |
| Customer Support Languages | EN, ZH, ZH-HK | EN, ZH (limited) | EN, ZH, ZH-HK | EN, ZH-HK | ZH-HK, ZH | EN, ZH-HK |
| Regulator | SFC (HK), ASIC (AU) | SFC (HK), SEC (US), multiple | SFC (HK) | SFC (HK), HKMA | SFC (HK) | SFC (HK) |
| Inactivity Fee | None | None | None | None | HK$50/quarter | None |
A note on total cost: Commission is only part of the picture. For online brokers like Futu and Tiger, the platform fee per order adds to the headline commission. For traditional brokers, the higher minimum charge means small trades are disproportionately expensive. A HK$10,000 trade on HSBC costs HK$100 in commission alone -- that is 1% round-trip before you even count stamp duty and other exchange levies.
Individual Broker Reviews
Futu (moomoo / 富途)
Futu is the broker most people in Asia encounter first when searching for low-cost HK stock trading. The platform is polished, the commission is among the lowest available, and the free Level 2 data across both HK and US markets is a genuine differentiator.
The mobile app is feature-dense -- charting with 80-plus technical indicators, real-time news feeds, a social community, options chains, and screeners. For active traders, it is one of the best mobile trading experiences available. The desktop app (Futubull / moomoo Desktop) is equally capable.
Where Futu falls short: The HK$15 platform fee per order adds up for frequent traders making small trades. Customer support quality varies -- we have heard consistently that wait times during peak hours can stretch past 30 minutes. And while Futu is SFC-regulated in Hong Kong, its parent company (Futu Holdings, NASDAQ: FUTU) is headquartered in Shenzhen, which gives some investors pause. The Investor Compensation Fund covers up to HK$500,000 per investor in the event of broker default, which is the standard SFC protection.
If you have read our moomoo Australia review, you will recognise many of the same strengths and weaknesses. The core platform is identical; the fee structure and regulatory wrapper differ by region.
Best for: Active traders who want a modern platform with strong data tools and low commissions.
Interactive Brokers
Interactive Brokers (IBKR) is the institutional-grade option. It offers access to over 150 markets worldwide from a single account, supports complex order types, and provides some of the tightest FX conversion rates in the industry. For investors who trade across HK, US, European, and other markets, IBKR's multi-currency account is hard to beat.
The Trader Workstation (TWS) desktop platform is powerful but notoriously intimidating. The newer IBKR Mobile and Client Portal are more accessible, though still not what anyone would call beginner-friendly. Research tools are extensive, with access to third-party analyst reports, screeners, and portfolio analytics.
Where IBKR falls short: The HK stock commission (0.08%, minimum HK$18) is roughly double Futu's effective rate for typical trade sizes. Level 2 HK market data costs extra. Customer support, while available in multiple languages, has a reputation for slow email responses and a somewhat bureaucratic feel. The account opening process is more involved than fintech brokers -- expect to spend 20 to 30 minutes on the application, and approval can take several business days.
Best for: Serious investors who trade across multiple global markets and prioritise execution quality and breadth over simplicity.
Tiger Brokers (老虎证券)
Tiger Brokers occupies the middle ground between Futu and the traditional banks. For a deeper look at Tiger's strengths and limitations, see our Tiger Brokers HK review. Commission rates are competitive (0.06%, minimum HK$15), the platform is modern and reasonably intuitive, and the broker supports HK, US, A-share (via Stock Connect), and Singapore markets.
The Tiger Trade app is clean and well-designed, though it lacks some of Futu's depth in charting and social features. Research tools are adequate -- you get basic analyst ratings, news feeds, and screeners, but nothing that would replace a dedicated research platform.
Where Tiger falls short: The HK$15 platform fee mirrors Futu's, which erodes the commission advantage on small trades. Level 2 data for HK stocks is not free -- it costs around HK$40 per month. Tiger's brand recognition outside mainland China and Southeast Asia is lower, which means thinner community resources and fewer third-party integrations. Some users have reported occasional app stability issues during high-volume market opens, though this has improved over the past year.
Best for: Investors who want a modern, low-cost broker but find Futu's interface too cluttered or prefer a slightly simpler experience.
HSBC InvestDirect (汇丰投资通)
HSBC InvestDirect is the default choice for many Hong Kong residents who already bank with HSBC. The integration with HSBC banking is seamless -- you can transfer funds instantly between your bank account and trading account, and your portfolio shows up in your regular HSBC app.
The platform itself is functional but unremarkable. It covers HK stocks, US stocks (with limitations on order types), A-shares via Stock Connect, and a range of bond and fund products. For investors who value the comfort of a major bank and do not need advanced trading tools, it does the job.
Where HSBC falls short: Fees are steep. The 0.25% commission with a HK$100 minimum means you are paying at least HK$100 even on a HK$5,000 trade -- that is 2% just on the buy side. There is no Level 2 data, charting tools are basic, and the platform has not meaningfully evolved in years. HSBC InvestDirect is designed for investors who trade infrequently and are willing to pay a premium for banking integration and brand trust.
Best for: HSBC banking customers who trade infrequently and prioritise convenience and institutional trust over cost.
Bank of China Securities (中银证券)
Bank of China Securities serves a similar niche to HSBC InvestDirect but skews towards mainland Chinese investors in Hong Kong and those with existing BOC banking relationships. The platform supports HK stocks, A-shares, and bonds, with a straightforward interface in Chinese and English.
Where BOC falls short: The fee structure is nearly identical to HSBC -- 0.25% commission, HK$100 minimum. BOC also charges a HK$50 quarterly inactivity fee if you do not trade, which is an irritant for buy-and-hold investors. The trading platform feels dated, with limited charting capabilities and no real-time streaming quotes on the basic tier. US stock access is not available directly -- you would need a separate account or broker for that.
Best for: Investors with existing BOC banking relationships who primarily trade HK and A-shares and prefer Chinese-language support.
Phillip Securities (辉立证券)
Phillip Securities is a Singapore-headquartered brokerage with a long history in Asia. In Hong Kong, it offers access to HK stocks, US stocks, Singapore stocks, and several other Asian markets. The POEMS (Phillip's Online Electronic Mart System) platform is functional, if somewhat outdated in its interface design.
Phillip's main appeal is breadth of product -- beyond stocks, they offer futures, forex, bonds, and fund distribution. For investors who want a single broker covering multiple asset classes across Asia, Phillip is a viable option.
Where Phillip falls short: Commission rates match the traditional banks at 0.25% (minimum HK$100), making it expensive for casual or small-account traders. The platform interface feels a generation behind Futu and Tiger. Customer support is available but not known for speed. Phillip lacks the modern app experience and free data offerings that fintech brokers provide.
Best for: Investors who want broad Asian market access across multiple asset classes from an established, traditional brokerage.
Fees Breakdown: What You Actually Pay
Commission is only one component. Here is what a typical HK$50,000 buy-and-sell round trip actually costs on each broker, including standard exchange levies.
| Cost Component | Rate | On HK$50,000 Trade |
|---|---|---|
| Stamp Duty | 0.13% (each way) | HK$130 |
| SFC Transaction Levy | 0.0027% (each way) | HK$2.70 |
| HKEX Trading Fee | 0.00565% (each way) | HK$5.65 |
| CCASS Settlement Fee | 0.002% (min HK$2, max HK$100) | HK$2 |
These exchange levies apply to all brokers equally. The difference comes down to commission.
Round-trip commission cost on a HK$50,000 trade:
| Broker | Commission (Buy + Sell) | Platform Fee | Total Broker Cost |
|---|---|---|---|
| Futu | HK$30 | HK$30 | HK$60 |
| Interactive Brokers | HK$80 | HK$0 | HK$80 |
| Tiger Brokers | HK$60 | HK$30 | HK$90 |
| HSBC InvestDirect | HK$250 | HK$0 | HK$250 |
| BOC Securities | HK$250 | HK$0 | HK$250 |
| Phillip Securities | HK$250 | HK$0 | HK$250 |
The gap between online brokers and traditional banks is stark. On a HK$50,000 round trip, Futu costs roughly HK$60 while HSBC, BOC, and Phillip cost HK$250 -- more than four times as much. For active traders making dozens of trades per month, this difference compounds into thousands of dollars annually.
For buy-and-hold investors who trade a few times per year, the cost difference is less dramatic and may be worth the trade-off for banking integration and institutional trust.
Who Should Choose What
There is no single best broker, but there are clear fits.
You trade frequently and want low costs: Futu or Tiger Brokers. Futu has the edge on data (free Level 2) and platform polish. Tiger is simpler and slightly cheaper on commission, though the paid data subscription narrows the gap.
You trade globally across many markets: Interactive Brokers. Nothing else comes close for multi-market access from a single account. The higher HK commission is the price of global reach.
You already bank with HSBC or BOC and trade occasionally: Stay with your bank's brokerage. The convenience of integrated banking outweighs the higher fees if you only make a handful of trades per year.
You want broad Asian market and asset class coverage: Phillip Securities offers the widest product range among traditional brokers in the region.
You are a beginner: Start with Futu or Tiger. Both offer paper trading, educational content, and modern interfaces. Futu's free Level 2 data is especially valuable for learning to read market depth. Avoid opening with a traditional bank broker -- the high minimums and basic platforms will not help you learn. Regardless of which broker you choose, TradingView is the go-to charting tool for most HK and US stock investors — the free tier covers candlestick charts and technical indicators that no broker app currently matches.
Frequently Asked Questions
Are online brokers like Futu and Tiger safe?
Both Futu and Tiger hold Type 1 (Dealing in Securities) licences from the Hong Kong Securities and Futures Commission (SFC). Client securities are held in segregated accounts at CCASS, and both brokers participate in the Investor Compensation Fund, which covers up to HK$500,000 per investor in the event of broker default. This is the same regulatory framework that covers HSBC and BOC's securities operations.
What is the cheapest broker for Hong Kong stocks?
On pure commission, Futu has the lowest rate at 0.03% (minimum HK$3), but you need to factor in the HK$15 platform fee per order. For trade sizes above roughly HK$20,000, Futu is the cheapest overall. For very small trades under HK$10,000, the platform fee makes Tiger marginally cheaper per dollar invested.
Can I trade A-shares through these brokers?
All six brokers offer access to mainland Chinese A-shares via the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programmes. Online brokers like Futu and Tiger generally charge lower commissions for Stock Connect trades than traditional banks.
Do I need a Hong Kong bank account to open a brokerage account?
Not necessarily. Futu, Tiger, and Interactive Brokers accept account funding via international wire transfer, and some support bank transfers from mainland Chinese and overseas bank accounts. HSBC InvestDirect and BOC Securities typically require an existing banking relationship with their respective banks.
What about dividend withholding tax on HK stocks?
Hong Kong does not impose withholding tax on dividends from HK-listed stocks. This is one of the advantages of investing in the HK market compared to US stocks (which are subject to a 30% withholding tax for non-US residents, reducible by tax treaty). This applies regardless of which broker you use.
I am based in Australia. Which broker should I use for HK stocks?
Interactive Brokers and Futu (through its moomoo brand) both serve Australian residents and offer HK stock trading. IBKR provides the most straightforward multi-market access. moomoo offers lower HK stock commissions and free Level 2 data -- we covered it in detail in our moomoo Australia review. HSBC InvestDirect is available to HSBC Australia customers but with limited functionality compared to the HK version.
Related Reading
- Longbridge Review: $0 Commission Broker for HK & US Stocks
- Tiger Brokers HK Review: Fees, Platform, and Verdict
- moomoo Australia Review
- How to Open a HK Stock Account with Zero Barriers
- VOO vs QQQ vs SCHD: Which US ETF for Hong Kong Investors?
Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice, a personal recommendation, or an offer to buy or sell any securities. Broker fee schedules, platform features, and regulatory conditions change frequently -- always verify current terms directly with the broker before opening an account.
The authors of this article do not receive commissions or compensation from any of the brokers discussed. Past performance and current fee structures are not guarantees of future terms. Investing in securities involves risk, including the potential loss of principal. Consider your own financial situation and objectives, and seek independent professional advice if needed.
Fee data was last verified in February 2026.