10 Leading U.S. and Hong Kong Stock Brokers Reviewed + Guide to Opening U.S./Hong Kong Stock Accounts (A Must-Bookmark) Recently, many of you have asked me how to invest in U.S. and Hong Kong stocks. Some have inquired about obtaining a Hong Kong card, while others have sought links to promotional offers for opening accounts with U.S. and Hong Kong stock brokers. However, a common issue everyone has reported is the difficulty in finding reliable information about brokers online, making it challenging to compare the pros and cons of various U.S. and Hong Kong stock brokers.

This article, based on several days of effort and my recent experiences, provides an objective and fair review of the current major U.S. and Hong Kong stock brokers. I recommend you like and bookmark this article to easily find it later.

In this guide, I will detail the top 10 most popular U.S. and Hong Kong stock brokers. I have compiled answers to the most frequently asked questions about each broker, focusing on the following aspects:

• The deposit and withdrawal methods supported by each broker, including whether they accept mainland China cards
• The fee structures of each broker
• The trading commissions for U.S. and Hong Kong stocks charged by each broker
• The pros and cons of each broker

Besides reviewing these 10 brokers, I have also included detailed account opening guides and categorized the brokers based on their origins. If you are planning to invest in U.S. or Hong Kong stocks but are unsure which broker to choose, this article will be an invaluable resource for you.

10 Leading U.S. and Hong Kong Stock Brokers Reviewed

一、Charles Schwab

Charles Schwab is an American company founded in 1971, offering both brokerage and banking services. Starting from October 7, 2019, Charles Schwab eliminated trading commissions for U.S. and Canadian-listed stocks, ETFs, and options.

Charles Schwab is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). It supports trading U.S. and Canadian-listed stocks, ETFs, options, and American Depository Receipts (ADRs).

Pros:

• No commissions
• Banking services available

Cons:

• High minimum deposit requirement
• High margin rates

二、BiyaPay (Global Multi-Asset Trading Wallet)

BiyaPay, a global multi-asset trading wallet headquartered in Singapore, allows users to deposit fiat currency or digital currency (like USDT), exchange between them, and withdraw through various channels, effectively bridging the gap between fiat and digital currencies. It also serves as a professional tool for depositing and withdrawing funds for U.S. and Hong Kong stocks.

Users can deposit USDT in BiyaPay, exchange it for USD or HKD, and withdraw it to their personal bank accounts, enabling quick and convenient deposits to major brokers with no limit, with same-day exchange and transfer, solving the problem of difficult fund deposits for investors. As an innovative internet broker, BiyaPay leverages the internet’s strengths to maintain a leading position in the global digital currency asset market.

Through its self-developed mobile app, the BiyaPay App, it covers areas including U.S. and Hong Kong stocks, offering users “one account, one fund to navigate the global capital market,” making global investment easier, simpler, and safer.

Registration Requirements:

Only an email is required for registration,

followed by identity verification Regarding Fees:

On the path to investing in U.S. and Hong Kong stocks, BiyaPay showcases its unique advantages:

• Zero Account Opening Threshold The entire registration process is completed online in as little as one minute, without the need for complex overseas bank account applications, requiring only identity verification.
• No Offshore Account Required After registration, there’s no need for a separate overseas bank account. It supports real-time exchanges between digital currencies like BTC and USDT and fiat currencies like USD and HKD, allowing users to participate in U.S. and Hong Kong stock trading in real-time online with a single account for global quality stock investments.
• Professional Deposit and Withdrawal Tool Users can easily convert USDT to USD or HKD and deposit into major brokers, solving the challenge of depositing funds into U.S. and Hong Kong stock accounts. Additionally, they can convert mainstream fiat currencies (such as USD and HKD) into digital currencies, then withdraw to exchanges and sell to local bank accounts, achieving real-time withdrawals and solving the issue of repatriating investor funds.
• Substantial Fee Savings Experience more economical and efficient deposits and withdrawals, reducing frequent transaction fees and saving up to over 90% in fees.
• No Limits, Freer Asset Allocation There are no limits on deposits and withdrawals for U.S. and Hong Kong stock accounts, with a maximum single transaction limit of 3 million and fees as low as 0.5%. It also supports a variety of investment options such as forex futures and commodity futures, enabling truly free asset allocation.
• Diverse Product Range BiyaPay, a licensed broker, provides access to U.S. stocks, Hong Kong stocks, ETFs, options, and margin trading.

三、Tiger Brokers

Founded in 2014, Tiger Brokers has quickly made a name for itself as an internet broker specializing in U.S. and Hong Kong stock markets. With its self-developed high-tech platform, it aims to provide investors with comprehensive global investment services, including access to U.S. stocks, Hong Kong stocks, and A-shares via the Shanghai-Hong Kong Stock Connect.

Tiger Brokers stands out in the U.S. and Hong Kong stock investment arena thanks to its strong technological development and outstanding customer service. Its mobile and desktop client software create a user-friendly and efficient investment platform. Additionally, they offer a range of trading options such as margin trading and short selling, support pre-market and after-hours trading, and provide options trading, catering to the diverse needs of different investors.

About Fees:

• Hong Kong stocks: 0.029% commission on the total amount, with a platform fee of 15 HKD per transaction.
• U.S. stocks: $0.0039 commission per share, with a minimum charge of $0.99 per order and a maximum of 0.5% of the total amount. Platform fee is $0.004 per share, with a minimum charge of $1 per order and a maximum of 0.5% of the total amount.
• A-shares: 0.03% commission on the total amount, with a platform fee of 15 RMB per transaction.

Pros:

• Global account equivalent to an IB account
• Free real-time market quotes
• Fully Chinese interface, with automatic translation of English news into Chinese
• Available for opening accounts in multiple regions (Hong Kong, Australia, Singapore, USA)

Cons:

• Trading incurs platform fees
• Commissions apply, and it is difficult to obtain commission-free trading

四、Futu Securities

Futu Niuniu is a financial services platform designed for global investors, offering trading services across U.S., Hong Kong, and A-share markets. Acting as a diligent financial assistant, it provides real-time quotes, intelligent conditional trading, online communication, and 24/7 global financial news, helping investors manage the global financial stage with ease.

Futu Securities, backed by Tencent, is an internet broker for U.S. and Hong Kong stocks. It is a licensed corporation recognized by the Hong Kong Securities and Futures Commission (SFC), holding Type 1, 2, 4, and 9 licenses, enabling seamless investments in U.S., Hong Kong, and A-shares. Listed on NASDAQ under the stock code FHL, its major shareholder is Tencent, and its founder, Li Hua, was Tencent’s 18th employee.

Thus, Futu is often regarded as a “Tencent-affiliated broker,” akin to a “semi-child” of Tencent. As a pioneer among internet brokers, Futu Niuniu first ventured into the Hong Kong stock market and holds a Hong Kong stock license, showcasing its strong industry background. In recent years, it has expanded into the U.S. stock market, with trading software compatible with various operating systems including PC, Mac, Android, and iOS, catering to different investors’ needs.

Account Opening Requirements:

• Located in Hong Kong or overseas, using local WiFi; alternatively, mainland users can upload other securities certificates to open an account. About Fees:
• Hong Kong stocks: commission-free, platform fee of 15 HKD per transaction;
• U.S. stocks: commission of $0.0049 per share, minimum $0.99 per transaction;
• A-shares: commission of 0.03%, minimum 3 RMB per transaction;
• Zero fee for all fund purchases and redemptions.

Pros:

• Chinese interface and customer service, even account opening documents can be in Chinese
• No minimum deposit requirement for account opening
• Mainland Chinese ID can be used to open an account
• Low margin rates, high interest rates on cash deposits
• The widest range of tradable assets (stocks, bonds, ETFs, options, forex from global markets, etc.)

Cons:

• Commissions and fees are present, and their calculation is complex, with tiered pricing suitable for large accounts
• Account opening process is relatively complex
• Interface is complicated and difficult to navigate, especially the desktop software, which has many features designed for institutional use, making it unsuitable for individual traders
• Trading incurs platform fees

五、Interactive Brokers

Interactive Brokers, often referred to as IB or IBKR in the industry, is the leading internet hybrid broker in the U.S. by revenue and trading volume. Listed on NASDAQ in May 2007 under the ticker IBKR, Interactive Brokers offers accounts that are regulated and protected by the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the Securities Investor Protection Corporation (SIPC).

Interactive Brokers offers direct access to over 100 market centers across 24 countries, facilitating global trading of stocks, options, futures, forex, bonds, ETFs, and CFDs. It processes approximately 14.1% of the world’s stock options trading volume. With low transaction fees, minimal forex spreads, and commissions as low as 0.08%, Interactive Brokers provides an affordable trading platform.

Advantages of Interactive Brokers:

• Exceptional technology with a highly robust trading system and comprehensive trading functions
• Full coverage of global capital markets, providing access to all on a single platform
• Low costs, whether for margin trading or currency exchange
• Convenient deposit and withdrawal processes

So, what are the disadvantages of Interactive Brokers? The main drawback is that beginners may find it difficult to use and not very user-friendly, especially for Chinese users. For example:

六、First Securities

Firstrade, also known as First Securities, is an American company established in 1985. It is dedicated to improving service quality, offering zero-commission trades, no minimum deposit for account opening, and no account maintenance fees.

As a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), Firstrade provides insurance coverage up to $500,000. It offers trading in U.S. stocks, options, over 11,000 mutual funds, bonds, treasury bonds, agency bonds, and certificates of deposit.

Advantages:

• No minimum funding requirement
• No account maintenance fees
• No trading commissions

Disadvantages:

• Limited range of tradable products
• Moderate margin rates

七、Longbridge Securities

Longbridge Securities is an internet broker dedicated to reshaping cognition and discovering beauty, leading the way in the digital transformation of the financial industry with its social-oriented brokerage services. Founded in March 2019 and headquartered in Singapore, its founding team comprises experienced financial managers from Singapore and Hong Kong and tech experts from top internet companies like Alibaba and ByteDance.

All client assets are held in custody and safeguarded by third-party clearing firms, with asset security regularly subjected to stringent regulatory reviews and internal and external audits. Longbridge Securities offers platform-wide free services, meaning investors can enjoy a range of services without paying additional fees.

The trading and financing fees provided by Longbridge Securities are relatively low, allowing investors to enjoy more favorable rates for trading and financing, thereby reducing investment costs and enhancing investment returns. Additionally, Longbridge Securities offers 24-hour customer service, ensuring that investors can receive timely assistance and support at any time.

Advantages:

• Cumulative deposits of 80,000 HKD (10,000 USD) can earn commission-free trading for Hong Kong and U.S. stocks (requires opening an account through a referral link)
• Focus on developing a social trading app, allowing users to get trading ideas from the information feed
• The software interaction is almost on par with Futu, catering to the habits of mainland Chinese users

Disadvantages:

• Trading incurs platform fees

八、Snowball Securities

Snowball Securities is a New Zealand financial registered service provider and a member of the Snowball Group, offering global brokerage services including Hong Kong, U.S., and A-shares to Chinese investors worldwide. Snowball Securities executes orders, settles funds, and clears assets through Interactive Brokers.

Who is the Snowball Group? Many of you have probably heard of the Snowball Community, the best Chinese investment community, bar none! Even today, the first batch of “Snowball friends” still hang out on Snowball every day.

Additionally, although Snowball Securities started relatively early, some “Snowball friends” have mentioned that due to its deep integration with Snowball, it has not pursued independent growth outside of its core circle. It only applied for a New Zealand license and connected directly to Interactive Brokers for its backend. This lack of focus from Snowball has led to Snowball Securities falling further behind competitors like Tiger Brokers and Futu in various aspects.

Account Opening Requirements:

• Must be at least 18 years old, located in Hong Kong or overseas (using local Wi-Fi), and possess a second-generation ID card

Fees:

• Hong Kong stocks: minimum of 18 HKD per transaction
• U.S. stocks: minimum of 1 USD per transaction
• Margin rate: 2.75%

九、Webull Securities

Webull Securities is a licensed U.S. brokerage firm registered with the U.S. Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), directly regulated by FINRA. Its greatest advantage is commission-free trading. Additionally, you can get a U.S. bank account for free, exchange RMB to USD, transfer it to your U.S. bank account, and make ACH deposits and withdrawals smoothly.

The advantages of Webull Securities include zero-commission stock trading:

• 0 commission for trading U.S. stocks, options, and ETFs
• 0 commission for IPO subscriptions in the U.S.
• 0 commission for trading Hong Kong warrants, fractional shares, IPO subscriptions, and callable bull/bear contracts
• 0 commission for trading Hong Kong stocks and ETFs

Many might wonder how Webull makes money with zero commissions. The answer is through margin interest. U.S. and Hong Kong stock investors often borrow money from the platform to buy more stocks, which incurs interest. For example, if you have $5,000 in your account but want to buy $10,000 worth of stocks, you can borrow $5,000 from the platform but will need to pay interest monthly. Frequent margin trading allows the platform to earn interest.

The disadvantages of Webull are also quite clear:

It does not support margin trading for IPOs, and the margin interest rates are relatively high, currently at 6.25%, which is two to three percentage points higher than Tiger Brokers, Snowball Securities, and Futu Securities. Additionally, the U.S. IPOs supported by Webull are mostly small-cap stocks, which are less appealing. Recently, I saw a notice on Webull’s website that investors should carefully consider the value of subscribing to the IPOs they support.

If your investment amount is below $20,000, or if you use Webull for IPO subscriptions in the U.S. and Hong Kong markets, then the zero-commission stock trading and zero-commission IPO subscriptions make Webull an excellent choice. I have clearly outlined the pros and cons of Webull, so the final decision depends on your personal preferences.

十、BBAE Securities

Headquartered in Dallas, Texas, BBAE Holding LLC was founded in 2016 by former Qunar executive Zhibo. It is a licensed, commission-free U.S. broker, and its wholly-owned brokerage subsidiary, Redbridge Securities LLC, is a member of FINRA and SIPC. As a SIPC member, customer accounts are protected up to $500,000, including $250,000 for cash.

Advantages:

• U.S. IPO subscriptions often yield significant returns
• Commission-free trading of U.S. stocks and ETFs, with free real-time quotes for accounts over $3,000
• Primarily supports deposits through U.S. banks, such as East West Bank and SIB Card

Disadvantages:

• As a U.S. broker, it does not support any Hong Kong stock trading, only U.S. stocks
• Allows deposits with Hong Kong cards but only supports wire transfers, which are cumbersome and slow

Summary

For those interested in long-term investments, there are many factors to consider when choosing a broker. I recommend BiyaPay, which scores higher than others in terms of trading diversity, community atmosphere, app experience, and more. Of course, if your English is good, you can directly use U.S. brokers like Charles Schwab.