Advertisement

To find the best online brokers for beginners in Hong Kong in 2021, we went ahead and did the research for you. We conducted interviews with newbies who had no trading experience. We tested 98 brokers of which 5 made it to the top. And now, without further ado...

The best online brokers for beginners in Hong Kong in 2021 are:

  1. TD Ameritrade - the best broker for beginners in Hong Kong in 2021. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  2. Passfolio is the runner-up. Free US stock and ETF trading. Great mobile platform. Fast and fully digital account opening.
  3. Saxo Bank placed third. Great trading platform. Outstanding research. Broad product portfolio.
  4. Questrade is number four. Low stock and ETF fees. Solid research tools. Superb customer service.
  5. Firstrade. Just made it to the list in fifth place. Free stock, ETF, fund and options trading. Solid research tools. Quality educational tools.
Best brokers for beginners in Hong Kong in 2021
Broker Info Best in
#1 TD Ameritrade US-based stockbroker
#2 Passfolio Global zero-commission stockbroker
#3 Saxo Bank Danish investment bank Best forex broker
#4 Questrade Canadian stockbroker
#5 Firstrade US discount broker Best IRA broker

What makes a great broker for beginners? Two things above all: an excellent mobile trading platform and low fees (learn more about brokerage fees here). The service should fit your needs and make everything easy. It should offer great educational tools, like a demo account, and provide webinars or courses. It must be easy to open an account and deposit funds.

All that is easy to list, but hard to figure out. That's why we are testing brokers along more than 300 criteria, using real accounts and real money. So we know what's up.

Not sure which broker is best for you? For a tailored recommendation, check out our broker finder tool. You can enter your country and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with our in-depth comparison tool.

And now, let's see the best online brokers for beginners in Hong Kong in 2021 one by one. Starting with the winner, TD Ameritrade.

TD Ameritrade Logo

#1 Best broker for beginners
TD Ameritrade

4.7

If you are an experienced trader looking for solid research and a well-equipped desktop trading platform, we definitely recommend TD Ameritrade.

Founded in 1975, TD is one of the biggest US-based stockbrokers and is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

This online broker is considered safe as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is overseen by top-tier regulators.

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Visit broker

#1 TD Ameritrade
Mobile trading platform
4.8

The TD Ameritrade mobile app is great. It is user-friendly and well-designed.
Pros Cons
User-friendly None
Two-step (safer) login
Good variety of order types
Best brokers for beginners - TD Ameritrade trading platform
TD Ameritrade trading platforms
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Mobile platform score 4.8 stars 4.8 stars 5.0 stars 4.8 stars 3.8 stars
Web platform score 4.3 stars 3.8 stars 5.0 stars 3.8 stars 4.3 stars

Visit broker More

#1 TD Ameritrade
Fees
4.3

TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for futures.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Free stocks and ETFs
TD Ameritrade fees
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
US stock $0.0 $0.0 $10.0 $5.0 $0.0
UK stock - - $11.2 - -

All commissions are for opening a position, holding for a week, and closing.

Visit broker More

#1 TD Ameritrade
Education
5.0

TD Ameritrade offers great educational materials such as webcasts and articles, and its excellent thinkorswim desktop platform has a demo account.
Pros Cons
Demo account None
Trading platform tutorial
Educational videos
Best brokers for beginners - TD Ameritrade education

Visit broker More

#1 TD Ameritrade
Customer service
4.0

TD Ameritrade customers have access to great customer service 24/7 and can expect relevant answers.
Pros Cons
Phone support None
Live chat
Fast response time
TD Ameritrade customer service channels
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Live chat Yes Yes No Yes No
Phone Yes Yes Yes Yes Yes
Email Yes Yes Yes Yes Yes

Visit broker More

#1 TD Ameritrade
Account opening
3.7

TD Ameritrade offers many different account types and there is no minimum deposit for US citizens.
Pros Cons
Fully digital None
No minimum deposit
Many account types
TD Ameritrade minimum deposit and time to open an account
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Minimum deposit $0 $0 $2,000 $1,000 $0
Time to open account 1-3 days 1 day >3 days 1 day 1-3 days

Visit broker More

#1 TD Ameritrade
Deposit and withdrawal
1.9

The account funding is user-friendly with no deposit fees; however, USD is the only available base currency and wire transfers incur a high fee.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Only one account base currency
User-friendly High withdrawal fee for wire transfers
TD Ameritrade withdrawal fee and options
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Visit broker More

#1 TD Ameritrade
Verdict

TD is one of the biggest US online brokers and it charges no commission on stock and ETF trades.

Research and education are outstanding, the thinkorswim desktop platform is one of the best on the market, and customer service is great.

There are a few drawbacks, most notably high financing (margin) rates, and the fact that credit/debit cards and electronic wallets are not accepted for money transfers. Furthermore, the product portfolio covers only US markets.

We definitely recommend giving TD a try, especially as their education tools include a demo account.

TD Ameritrade
Summary TD Ameritrade is a US stockbroker regulated by top-tier authorities SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group. The brokerage was acquired by Charles Schwab Corporation in 2020. Client account conversion is expected between April and September of 2023.
Fees score 4.3 stars
Recommended for Investors and traders looking for solid research and a well-equipped desktop trading platform

Visit broker More

Passfolio Logo

#2 Best broker for beginners
Passfolio

4.5

Passfolio, a global zero-commission stockbroker, is a young and ambitious brokerage founded in 2018. It is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In addition to the top-tier regulation, clients also enjoy investor protection under the SIPC policy of Passfolio's clearing firm for up to an additional $30 million (with a cash sub-limit of $900,000 per account), subject to an aggregate limit of $150 million.

Although Passfolio is a global broker, there is a distinct focus on Brazilian customers, as evidenced by the fact that a good portion of the content it offers is available in Portuguese. 

Passfolio is considered safe because it is regulated by top-tier authorities and offers extra protection to investors. 

Recommended for beginners and long-term investors focusing on the us stock market

Visit broker

#2 Passfolio
Mobile trading platform
4.8

Passfolio's mobile platform boasts a clear-cut design and its search functions are also solid. What's missing is a wider selection of order types, as well as price alerts.
Pros Cons
User-friendly Limited order types
Two-step (safer) login No price alerts
Good search function
Best brokers for beginners - Passfolio trading platform
Passfolio trading platforms
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Mobile platform score 4.8 stars 4.8 stars 5.0 stars 4.8 stars 3.8 stars
Web platform score 4.3 stars 3.8 stars 5.0 stars 3.8 stars 4.3 stars

Visit broker More

#2 Passfolio
Fees
4.3

Passfolio has attractive fees, as trading in all assets except for cryptos is free of charge above a trade value of $5. On the other hand, most withdrawal options carry a fee.
Pros Cons
Free stock and ETF trading above $5 Withdrawal fee
No account opening and maintenance fees High margin rates for stock trading
Passfolio fees
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
US stock $0.0 $0.0 $10.0 $5.0 $0.0
UK stock - - $11.2 - -

All commissions are for opening a position, holding for a week, and closing.

Visit broker More

#2 Passfolio
Education
2.5

Passfolio's education services are limited and not varied. There are some high-quality educational articles and a YouTube channel with market updates in Portuguese.
Pros Cons
Quality educational texts No demo account
No trading platform tutorial videos
Best brokers for beginners - Passfolio education

Visit broker More

#2 Passfolio
Customer service
3.5

Passfolio clients can contact the broker via all three customary channels. The email service is very fast, the live chat is somewhat slower, while phone support is virtually nonexistent.
Pros Cons
Relevant answers No 24/7 support
Fast email support Couldn't reach phone support on multiple occasions
Passfolio customer service channels
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Live chat Yes Yes No Yes No
Phone Yes Yes Yes Yes Yes
Email Yes Yes Yes Yes Yes

Visit broker More

#2 Passfolio
Account opening
5.0

On mobile, the account opening at Passfolio is super fast and fully digital, with validation in just 15 minutes. On the other hand, there may be some issues when validating via desktop.
Pros Cons
Fully digital Verification can be buggy on desktop
No minimum deposit
Verification in 15 minutes
Passfolio minimum deposit and time to open an account
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Minimum deposit $0 $0 $2,000 $1,000 $0
Time to open account 1-3 days 1 day >3 days 1 day 1-3 days

Visit broker More

#2 Passfolio
Deposit and withdrawal
2.8

Passfolio's deposit functions are numerous and most of them come free of charge. On the other hand, withdrawal is not free and the process of depositing funds is complicated.
Pros Cons
No deposit fee Only one account base currency
Not user-friendly
Withdrawal fee
Passfolio withdrawal fee and options
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Visit broker More

#2 Passfolio
Verdict

As an up-and-coming brokerage, the main attractive feature of Passfolio is its highly competitive fee structure. You can essentially trade free of charge with an amount exceeding $5, depositing funds is free and the broker doesn't charge any account fees either. The mobile app is exceptionally user-friendly and the account opening and validation was extremely fast.

On the negative side, the range of products is rather limited and customers have access solely to US markets (NYSE/NASDAQ). Depositing funds in your Passfolio account can prove to be a cumbersome process and all withdrawals carry a price tag. Educational materials are pretty scarce, albeit some of high quality, and videos are only available in Portuguese.

Passfolio is ideal for non-US investors looking for an easy-to-use platform to trade in US securities.

Passfolio
Summary Passfolio is a US-based commission-free stockbroker focusing on Brazil. It is regulated by both FINRA and SEC, and is available globally for clients.
Fees score 4.3 stars
Recommended for Beginners and long-term investors focusing on the US stock market

Visit broker More

Saxo Bank Logo

#3 Best broker for beginners
Saxo Bank

4.8

Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).

Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record and a banking background, and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

Visit broker

#3 Saxo Bank
Mobile trading platform
5.0

Saxo Bank's user-friendly mobile platform has the same look and very similar functionalities as the web platform.
Pros Cons
User-friendly None
Two-step (safer) login
Good search function
Best brokers for beginners - Saxo Bank trading platform
Saxo Bank trading platforms
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Mobile platform score 4.8 stars 4.8 stars 5.0 stars 4.8 stars 3.8 stars
Web platform score 4.3 stars 3.8 stars 5.0 stars 3.8 stars 4.3 stars

Visit broker More

#3 Saxo Bank
Fees
3.3

Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
Pros Cons
Low forex fees Inactivity fee
Low fund fees Custody fee
No withdrawal fee High fees for options&futures
Saxo Bank fees
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
US stock $0.0 $0.0 $10.0 $5.0 $0.0
UK stock - - $11.2 - -

All commissions are for opening a position, holding for a week, and closing.

Visit broker More

#3 Saxo Bank
Education
4.5

If you want to improve your financial knowledge, Saxo Bank has a lot to offer. You can use a demo account, attend webinars or watch educational videos.
Pros Cons
Demo account No educational articles
Trading platform tutorial
Educational videos
Best brokers for beginners - Saxo Bank education

Visit broker More

#3 Saxo Bank
Customer service
4.0

Saxo's customer service is available in many languages, with phone and email support that work well despite small issues. Downsides include the lack of live chat and 24/7 availability.
Pros Cons
Phone support No live chat
Relevant answers No 24/7 support
Saxo Bank customer service channels
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Live chat Yes Yes No Yes No
Phone Yes Yes Yes Yes Yes
Email Yes Yes Yes Yes Yes

Visit broker More

#3 Saxo Bank
Account opening
2.0

Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
Pros Cons
Fully digital Minimum deposit is high in certain countries
User-friendly Slow account verification
Available in almost every country
Saxo Bank minimum deposit and time to open an account
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Minimum deposit $0 $0 $2,000 $1,000 $0
Time to open account 1-3 days 1 day >3 days 1 day 1-3 days

Visit broker More

#3 Saxo Bank
Deposit and withdrawal
4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available Electronic wallets not available for deposit or withdrawal
Free withdrawal
No deposit fee
Saxo Bank withdrawal fee and options
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Visit broker More

#3 Saxo Bank
Verdict

Saxo Bank is a great broker, providing a complex and good service.

It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by several financial authorities globally, including the top-tier UK FCA.
Fees score 3.3 stars
Recommended for Investors and traders looking for a great trading platform and solid research

Visit broker More

Questrade Logo

#4 Best broker for beginners
Questrade

4.5

Questrade, founded in 1999, is one of the most popular brokerage firms in Canada. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).

Questrade is considered safe because it has a long track record and is regulated by a top-tier regulator.

Recommended for traders and investors focusing on the canadian and us markets

Visit broker

#4 Questrade
Mobile trading platform
4.8

The Questrade mobile trading platform is great. It is user-friendly and well-designed.
Pros Cons
User-friendly None
Two-step (safer) login
Good variety of order types
Best brokers for beginners - Questrade trading platform
Questrade trading platforms
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Mobile platform score 4.8 stars 4.8 stars 5.0 stars 4.8 stars 3.8 stars
Web platform score 4.3 stars 3.8 stars 5.0 stars 3.8 stars 4.3 stars

Visit broker More

#4 Questrade
Fees
3.6

Questrade has competitive fees for stocks, ETFs, funds and forex trading. However, margin rates are slightly at the higher end.
Pros Cons
Low non-trading fees High margin rates
Low stock and ETF fees / Free stock trading
Low fund fees
Questrade fees
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
US stock $0.0 $0.0 $10.0 $5.0 $0.0
UK stock - - $11.2 - -

All commissions are for opening a position, holding for a week, and closing.

Visit broker More

#4 Questrade
Education
4.0

Questrade offers an adequate amount of educational and tutorial materials for both novice and advanced traders. However, the educational section could be more structured.
Pros Cons
Demo account Educational section is hard to navigate
Trading platform tutorial
Educational videos
Best brokers for beginners - Questrade education

Visit broker More

#4 Questrade
Customer service
4.5

Questrade has great customer service, with polite staff that gave detailed answers quickly on all available channels. However, support is unfortunately not available 24/7.
Pros Cons
Phone support No 24/7 support
Live chat
Fast response time
Questrade customer service channels
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Live chat Yes Yes No Yes No
Phone Yes Yes Yes Yes Yes
Email Yes Yes Yes Yes Yes

Visit broker More

#4 Questrade
Account opening
3.5

For Canadian citizens, opening an account at Questrade is easy and fully digital. However, there is a high minimum deposit of $1,000.
Pros Cons
Fast Minimum deposit is higher than $500
Fully digital Complicated for non-Canadians
User-friendly
Questrade minimum deposit and time to open an account
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Minimum deposit $0 $0 $2,000 $1,000 $0
Time to open account 1-3 days 1 day >3 days 1 day 1-3 days

Visit broker More

#4 Questrade
Deposit and withdrawal
2.7

Deposits and withdrawals are free and user-friendly with electronic transfer for Canadians. However, the process is expensive for non-Canadians and non-Visa debit cards are not available.
Pros Cons
Free withdrawal Slow withdrawal - over 3 days
No deposit fee High fee for wire withdrawals
User-friendly Non-Visa debit card not available
Questrade withdrawal fee and options
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Visit broker More

#4 Questrade
Verdict

Questrade is among the fastest-growing online brokerage firms in Canada. Its stock and ETF fees are low, research tools are advanced and customer service is outstanding.

Questrade has some shortcomings as well. Even though the account opening process for Canadians is quick and easy, it's slow and time-consuming if you are not Canadian. You can face high withdrawal fees if you are not a Canadian citizen and there are only USD and CAD as account base currencies.

Since Questrade has advanced research tools and offers great customer service, feel free to give it a try.

Questrade
Summary Questrade is a Canadian online brokerage firm. Questrade is a member of Canadian self-regulatory industry body IIROC and the Canadian Investor Protection Fund (CIPF).
Fees score 3.6 stars
Recommended for Traders and investors focusing on the Canadian and US markets

Visit broker More

Firstrade Logo

#5 Best broker for beginners
Firstrade

4.3

Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name First Flushing Securities.

Firstrade is considered safe because it has a long track record and is overseen by top-tier regulators.

Recommended for beginners and investors looking for zero-commission trading, focusing on the us market

Visit broker

#5 Firstrade
Mobile trading platform
3.8

Firstrade's mobile platform is user-friendly with a great search function. On the other hand, two-step login is not available and you can't trade mutual funds or bonds.
Pros Cons
User-friendly No two-step (safer) login
Good search function Mutual funds and bonds are not covered
Good variety of order types
Best brokers for beginners - Firstrade trading platform
Firstrade trading platforms
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Mobile platform score 4.8 stars 4.8 stars 5.0 stars 4.8 stars 3.8 stars
Web platform score 4.3 stars 3.8 stars 5.0 stars 3.8 stars 4.3 stars

Visit broker More

#5 Firstrade
Fees
4.5

Firstrade has low fees. It offers free stock, ETF, funds, and options trading with low non-trading fees. However, margin rates are high.
Pros Cons
Low trading fees High margin rates
Low non-trading fees
Free stock, ETF, fund and options trading
Firstrade fees
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
US stock $0.0 $0.0 $10.0 $5.0 $0.0
UK stock - - $11.2 - -

All commissions are for opening a position, holding for a week, and closing.

Visit broker More

#5 Firstrade
Education
3.5

Are you a beginner or do you believe in lifelong learning? Then Firstrade is clearly a good match for you. They offer great educational articles, a useful glossary, a bunch of platform videos and webinars. However, there is no demo account.
Pros Cons
Trading platform tutorial No demo account
Educational videos
Best brokers for beginners - Firstrade education

Visit broker More

#5 Firstrade
Customer service
0.3

Firstrade's phone and chat support are slow and do not provide relevant information most of the time.
Pros Cons
Email support No live chat
No 24/7 support
Slow support
Irrelevant answers
Phone support didn't connect anyone
Firstrade customer service channels
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Live chat Yes Yes No Yes No
Phone Yes Yes Yes Yes Yes
Email Yes Yes Yes Yes Yes

Visit broker More

#5 Firstrade
Account opening
4.2

Account opening is fully digital and user-friendly, and is open to some international customers as well. On the flip side, the process was slow for us, taking almost 3 business days.
Pros Cons
Fully digital Slow account verification
No minimum deposit
Low minimum deposit
Firstrade minimum deposit and time to open an account
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Minimum deposit $0 $0 $2,000 $1,000 $0
Time to open account 1-3 days 1 day >3 days 1 day 1-3 days

Visit broker More

#5 Firstrade
Deposit and withdrawal
2.0

We liked Firstrade's user-friendly deposit and withdrawal process. There is no deposit fee and transferring money is easy. At the same time, there is still room for improvement: you can use only bank transfers and a high fee is charged for wire transfer withdrawals.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly Only one account base currency
High outgoing wire transfer fee
Firstrade withdrawal fee and options
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No No Yes No
Withdrawal fee $0 $0 $0 $0 $0

Visit broker More

#5 Firstrade
Verdict

Firstrade is one of the biggest discount US stockbrokers and is regulated by top-tier regulators.

Firstrade offers free stock, ETF, mutual funds and options trading. It doesn't charge inactivity and account fees, and there are lots of quality research and educational tools you can use.

Their services have some drawbacks, though. Firstrade doesn't accept credit/debit cards and electronic wallets for money transfer. The product portfolio covers only the US market. Customer service is only available 24/5 and you can't contact them via live chat. 

As it has low fees and no inactivity fee is charged, feel free to try Firstrade.

Firstrade
Summary Firstrade is a US discount broker regulated by the top-tier SEC and FINRA.
Fees score 4.5 stars
Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market

Visit broker More

Best brokers for beginners
What makes a great broker for beginners

Now you know which are the best brokers for beginners. Curious how we put together this list? Let's go through two points in some more detail: whether these brokers are safe, and how we compiled the list.

Are these brokers safe?

You can be sure none of them is a scam. They are regulated by at least one top-tier authority. Some of them are also listed on an exchange, and some have a banking background.

However, brokerage companies can also go bust. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, your money is safe.

If a worst-case scenario happens and, for example, the broker steals your assets, then you have a last resort: the compensation fund of the country where the broker is regulated.

How did BrokerChooser pick the best brokers for beginners?

At BrokerChooser we test online brokers along more than 300 criteria, with a real account and real money. In order not to overwhelm you, here are just the five most important criteria for brokers for beginners:

5 most important criteria for the best brokers for beginners in 2021
1. Mobile trading platform A user-friendly and well-equipped trading platform can significantly increase your comfort with trading.
2. Fees The overall cost of a typical trade can be 10-15 times higher at one broker than at another. So it is pays to check the fees.
3. Education Are you unfamiliar with concepts like spread or leverage? Good educational tools can help you to understand the basics of trading.
4. Account opening Some online brokers require a minimum first-time deposit, others don't. Check out what conditions the best online brokers have.
5. Deposit and withdrawal Withdrawing money from your account can be 5 times longer and more expensive from one broker to another.

Best brokers for beginners
Start your learning

When you are a beginner the best way to start your journey is by learning.

Below, you can find some very useful learning materials to start with.

If you are considering starting your investment journey by learning, check out our education page, where you can find a lot of great materials. Learn about the pros and cons of investing your money on your own or the difference between trading and investing. You can also take a look at this article on account opening if you want to learn how you can open a trading account.

For beginner buy-and-hold investors we recommend reading our how to buy shares and how to buy ETFs articles.

For beginners who want to learn to trade, we can provide even more. A professional trader wrote about how to become a trader. Most beginner traders start with forex trading. If you don't know anything about this topic, start with our forex primer article. CFDs have also become very popular, but they are very risky. Start learning about this product type with this introduction to CFD trading and continue with the pros and cons of CFD trading.

Cryptos are a hot topic, but also super risky. We dug into it and found the safest ways to invest in Bitcoin. Highly recommended if you are considering cryptos.

When you become more experienced and start exploring futures options, you should definitely check out our article on the topic.

Best brokers for beginners
Bottom line

You saw the details, now let's zoom out. Here are once again the best brokers for beginners in Hong Kong in 2021:

Best brokers for beginners in Hong Kong in 2021
TD Ameritrade Passfolio Saxo Bank Questrade Firstrade
Award Best forex broker Best IRA broker
Mobile platform score 4.8 stars 4.8 stars 5.0 stars 4.8 stars 3.8 stars
Fees score 4.3 stars 4.3 stars 3.3 stars 3.6 stars 4.5 stars
Education score 5.0 stars 2.5 stars 4.5 stars 4.0 stars 3.5 stars
Customer service score 4.0 stars 3.5 stars 4.0 stars 4.5 stars 0.3 stars
Account opening score 3.7 stars 5.0 stars 2.0 stars 3.5 stars 4.2 stars
Deposit and withdrawal score 1.9 stars 2.8 stars 4.8 stars 2.7 stars 2.0 stars
Visit broker Visit broker Visit broker Visit broker Visit broker

TD Ameritrade is our winner, the best broker for beginners in Hong Kong in 2021. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.

All the other brokers in the top five are considered great choices as well. Pick any of them and take the next step in your investment journey. Let us know what you think in the comment section.

Still unsure? Use our broker finder to find the best broker for you or learn more about investing your money.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Share

Comments

×