If you want to verify whether your orders on BiyaPay are actually in the liquid market, you can choose a stock with relatively low liquidity (for example, a market capitalization below $100 million) to place an order. Once it enters the liquidity of markets such as the Hong Kong Stock Exchange, NASDAQ, and NYSE, you can see it on brokers like Interactive Brokers and Tiger! Because the global depth of US stocks and Hong Kong stocks is transparent and consistent, you can see whether it enters the liquid market by placing an order.

BiyaPay US-HK stock order routing demo link: https://cn.biyapay.com/announcement/5-post-US-&-HK-Stock-Notification/2-post-Why-U.S.-and?page=1&type=5&index=5