To find the best international online brokers in Hong Kong, we went ahead and did the research for you. After testing, analyzing and comparing 78 brokers, 5 made it to the top. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for the best international online brokers of 2020 for citizens in Hong Kong:
- Interactive Brokers is the number one international online broker in 2020. Low trading fees. Wide range of products. Many great research tools.
- TD Ameritrade is your runner-up. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- Saxo Bank rounds out the top three. Great trading platform. Outstanding research. Broad product portfolio.
- Swissquote, numero quatro. Access to many markets and products. No inactivity fee. Rock-solid background.
- TradeStation. Great web and mobile trading platform. Low stock and ETF fees. High-quality educational tools. Just made it to the list at number five.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.9 | Best online broker |
| #2 | TD Ameritrade | US-based stockbroker | 4.9 | Best desktop trading platform |
| #3 | Saxo Bank | Danish investment bank | 4.8 | Best web trading platform |
| #4 | Swissquote | Swiss investment bank | 4.5 | |
| #5 | TradeStation | US stockbroker | 4.7 | Best app for stock trading |
What makes a good online broker? First of all, they must offer fair fees and have a good safety score. It should also be easy to open an account and deposit money. They should give you access to many products, and they need to have a great trading platform.
Easy to list, but hard to figure out. That’s why we are testing brokers along more than 100 criteria, using real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker? 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 this detailed comparison table.
And now, let's see the best international online brokers in 2020 for citizens in Hong Kong one by one, starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Hong Kong
Interactive Brokers
Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.
Recommended for traders looking for low fees and a professional trading environment
| Pros | Cons |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • High inactivity fee |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.0 | $10.0 | $25.0 | $1.0 |
| UK stock | $7.8 | - | $10.4 | $32.5 | - |
| EURUSD benchmark fee | $11.2 | $6.8 | $7.9 | $17.6 | - |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#1 Interactive Brokers
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types | • Confusing messages throughout the process |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $10,000 | $0 | $1 |
| Time to open account | 1-3 days | 1-3 days | >3 days | 1 day | 1 day |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal each month free |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#1 Interactive Brokers
Markets and products
Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | No | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#1 Interactive Brokers
Web trading platform
Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars | 5.0 stars | 4.3 stars | 4.5 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 5.0 stars | 4.7 stars | 4.8 stars |
| Desktop platform score | 3.0 stars | 4.5 stars | 5.0 stars | 3.4 stars | 2.5 stars |
#1 Interactive Brokers
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.
On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools.
There are some drawbacks, though: there is a high inactivity fee, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.0 stars |
| Recommended for | Traders looking for low fees and a professional trading environment |
#2 Best international online brokers for citizens in Hong Kong
TD Ameritrade
TD Ameritrade was founded in 1975 and is one of the biggest US-based stockbrokers. It 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).
TD Ameritrade is considered a safe broker since 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
| Pros | Cons |
|---|---|
| • Low trading fees (free stock and ETF trading) | • You can trade only on US markets |
| • Superb desktop trading platform | • Accounts mostly limited to US residents |
| • Great customer support | • No credit/debit cards and electronic wallets for money transfer |
#2 TD Ameritrade
Fees
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 mutual funds and futures.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fund fees |
| • Low non-trading fees | |
| • Free stocks and ETFs |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.0 | $10.0 | $25.0 | $1.0 |
| UK stock | $7.8 | - | $10.4 | $32.5 | - |
| EURUSD benchmark fee | $11.2 | $6.8 | $7.9 | $17.6 | - |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#2 TD Ameritrade
Account opening
TD Ameritrade offers many different account types, and US citizens face no minimum deposit.
| Pros | Cons |
|---|---|
| • Fully digital | None |
| • No minimum deposit | |
| • Many account types |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $10,000 | $0 | $1 |
| Time to open account | 1-3 days | 1-3 days | >3 days | 1 day | 1 day |
#2 TD Ameritrade
Deposit and withdrawal
TD Ameritrade has user-friendly account funding with no deposit fees, but 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 |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#2 TD Ameritrade
Markets and products
You can trade many asset classes, from stocks to futures and forex, while nice extras include social trading and robo-advisory. On the other hand, only the US market is covered.
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | No | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#2 TD Ameritrade
Web trading platform
TD Ameritrade offers a good web trading platform with a clean design. On the flip side, the platform is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Two-step (safer) login | |
| • Good variety of order types |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars | 5.0 stars | 4.3 stars | 4.5 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 5.0 stars | 4.7 stars | 4.8 stars |
| Desktop platform score | 3.0 stars | 4.5 stars | 5.0 stars | 3.4 stars | 2.5 stars |
#2 TD Ameritrade
Verdict
TD Ameritrade is one of the biggest US online brokers. It charges no commission on stock and ETF trades.
Research and education are outstanding at TD Ameritrade, offering you many useful tools. The Thinkorswim desktop trading platform is one of the best on the market. Customer service is great, you will get relevant answers within a short time.
TD Ameritrade has some drawbacks, though. It charges high financing (margin) rates, and it doesn't accept credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers only the US market.
As TD Ameritrade offers great education tools including a demo account, we encourage you to try it.
| TD Ameritrade | |
|---|---|
| Summary | TD Ameritrade is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group. |
| Fees score | 4.3 stars |
| Recommended for | Investors and traders looking for solid research and a well-equipped desktop trading platform |
Want to stay in the loop?
Sign up to get notifications about new BrokerChooser articles right into your mailbox.
#3 Best international online brokers for citizens in Hong Kong
Saxo Bank
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, 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
| Pros | Cons |
|---|---|
| • Great trading platform | • High bond, options and futures fees |
| • Outstanding research | • High minimum deposit |
| • Broad product portfolio | • Lacks live chat and 24/7 availability |
#3 Saxo Bank
Fees
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 | • High bond, options and futures fees |
| • No withdrawal fee |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.0 | $10.0 | $25.0 | $1.0 |
| UK stock | $7.8 | - | $10.4 | $32.5 | - |
| EURUSD benchmark fee | $11.2 | $6.8 | $7.9 | $17.6 | - |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#3 Saxo Bank
Account opening
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 |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $10,000 | $0 | $1 |
| Time to open account | 1-3 days | 1-3 days | >3 days | 1 day | 1 day |
#3 Saxo Bank
Deposit and withdrawal
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 |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#3 Saxo Bank
Markets and products
Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where the selection could be improved.
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | No | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#3 Saxo Bank
Web trading platform
Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars | 5.0 stars | 4.3 stars | 4.5 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 5.0 stars | 4.7 stars | 4.8 stars |
| Desktop platform score | 3.0 stars | 4.5 stars | 5.0 stars | 3.4 stars | 2.5 stars |
#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 more than 10 financial authorities, including the top-tier UK FCA. |
| Fees score | 3.0 stars |
| Recommended for | Investors and traders looking for a great trading platform and solid research |
#4 Best international online brokers for citizens in Hong Kong
Swissquote
Swissquote is a Swiss investment bank established in 1996. It has two main trading arms: a Swiss unit for trading stocks, funds, options and futures and a company in the UK for CFDs and forex.
Formally, Swissquote Bank Ltd is based in Switzerland and is regulated by the Swiss Financial Market Supervisory Authority (FINMA), the country's financial regulator.
The other entity, Swissquote Ltd, is UK-based and offers CFDs and forex trading. It is regulated by the Financial Conduct Authority (FCA), the UK's financial authority.
Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, discloses detailed financials regularly and has a long track record.
In this review, we focus mainly on the Swiss entity, but also discuss services of the UK arm, especially in the case of CFD and forex trading. To make it clear which company we are talking about, we will refer to the Swiss entity as "Swissquote (CH)" and to the UK-based entity as "Swissquote Forex (UK)".
Recommended for affluent investors who value safety and are ok with higher fees
| Pros | Cons |
|---|---|
| • Access to many markets and products | • High trading fees |
| • No inactivity fee | • Confusing trading platform selection |
| • Rock-solid background | • Some research tools are not free |
#4 Swissquote
Fees
Swissquote charges no inactivity fee and you can trade an impressive selection of funds for favorable fees. On the other hand, trading fees are generally high, including stocks and ETFs fees, and there is a fee for withdrawing your money.
| Pros | Cons |
|---|---|
| • Low fund fees | • High trading fees |
| • No inactivity fee | • High stock and ETF fees |
| • Low financing rate | • High bond fees |
| • Withdrawal fee at Swissquote (CH) |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.0 | $10.0 | $25.0 | $1.0 |
| UK stock | $7.8 | - | $10.4 | $32.5 | - |
| EURUSD benchmark fee | $11.2 | $6.8 | $7.9 | $17.6 | - |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#4 Swissquote
Account opening
Swissquote offers a fully digital account opening process, although we encountered wait times. There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts.
| Pros | Cons |
|---|---|
| • Fully digital | • Long wait times |
| • No minimum deposit for trading account | • Forex and robo-advisor accounts have high minimum |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $10,000 | $0 | $1 |
| Time to open account | 1-3 days | 1-3 days | >3 days | 1 day | 1 day |
#4 Swissquote
Deposit and withdrawal
Depositing at Swissquote is quick with credit/debit card and can be done in several base currencies. On the negative side, you can only withdraw money via bank transfer, and the Swiss entity charges fees.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Swiss entity charges withdrawal and deposit fees |
| • Several account base currencies |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#4 Swissquote
Markets and products
At Swissquote (CH) you can access many markets and trade with a lot of different product types. At Swissquote Forex (UK) you can trade only forex and some CFDs.
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | No | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#4 Swissquote
Web trading platform
The Swissquote (CH) eTrading platform has a lot of functions, so many that sometimes it can get complicated. Customizability is good and there is a clear overview of trading fees, but it's easy to get lost on the platform.
| Pros | Cons |
|---|---|
| • Clear fee report | • Easy to get lost among functions |
| • Two-step (safer) login | |
| • Good search function |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars | 5.0 stars | 4.3 stars | 4.5 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 5.0 stars | 4.7 stars | 4.8 stars |
| Desktop platform score | 3.0 stars | 4.5 stars | 5.0 stars | 3.4 stars | 2.5 stars |
#4 Swissquote
Verdict
Swissquote is an investment bank with a rock-solid background:
- It is Swiss,
- it is listed on an exchange
- and it is a bank.
It has two main entities, one in the UK and one in Switzerland. If you open an account at the London-based entity you can trade forex and CFDs, while the Swiss entity gives you access to assets ranging from stocks to options.
Swissquote offers a broad range of products across many markets. There are many stocks, mutual funds, and a lot of different other types of products, from bonds to cryptos.
However, nothing is free: Swissquote's trading fees are relatively high.
All in all, Swissquote is a great stockbroker. As you can trade many products and no inactivity fee is charged, feel free to give it a try.
| Swissquote | |
|---|---|
| Summary | Swissquote is a Swiss online broker with a banking license. It is listed on the Swiss stock exchange and regulated by several authorities globally, including the top-tier UK FCA. |
| Fees score | 1.6 stars |
| Recommended for | Affluent investors who value safety and are OK with higher fees |
#5 Best international online brokers for citizens in Hong Kong
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Not user-friendly deposit and withdrawal |
| • Low stock and ETF fees | • No forex trading |
| • High-quality educational tools | • Okayish customer service |
#5 TradeStation
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals are costly and non-trading fees can be high.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Low stock and ETF fees | • Non-trading fees can be high |
| • Multiple fee structures to choose from |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| US stock | $1.0 | $0.0 | $10.0 | $25.0 | $1.0 |
| UK stock | $7.8 | - | $10.4 | $32.5 | - |
| EURUSD benchmark fee | $11.2 | $6.8 | $7.9 | $17.6 | - |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#5 TradeStation
Account opening
TradeStation account opening is fully digital, user-friendly and fast. On the other hand, USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
| • Fast | • Only USD accounts (unless you trade futures) |
| • Fully digital | |
| • User-friendly |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $10,000 | $0 | $1 |
| Time to open account | 1-3 days | 1-3 days | >3 days | 1 day | 1 day |
#5 TradeStation
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit and withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • Only USD accounts (unless you trade futures) |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $10 | $0 |
#5 TradeStation
Markets and products
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes | Yes |
| CFD | Yes | No | Yes | Yes | No |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#5 TradeStation
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars | 5.0 stars | 4.3 stars | 4.5 stars |
| Mobile platform score | 3.5 stars | 4.8 stars | 5.0 stars | 4.7 stars | 4.8 stars |
| Desktop platform score | 3.0 stars | 4.5 stars | 5.0 stars | 3.4 stars | 2.5 stars |
#5 TradeStation
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.
On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfer. There is no forex trading, and customer service has room for improvement.
Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
Best international online brokers for citizens in Hong Kong
What makes a good online broker
Now you know the top 5. You are probably curious about how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.
Are these brokers safe?
You can be sure none of them is a scam. They are regulated by top-tier authorities. Some of them are also listed on an exchange, while some have a banking background.
However, also brokerage companies can go down. 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, you are safe.
If everything goes very bad 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 international online brokers for a citizen in Hong Kong?
At BrokerChooser, we test online brokers along more than 100 criteria, using real accounts and real money. We don’t want to overwhelm you, so for now we’ll just list the five most important criteria.
The five most important criteria for best international online brokers are:
| 1. Fees | The trading fee of a typical US equity trade can be 50 times higher at one online broker compared to another. Worth to check the fees. |
| 2. Account opening | Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require. |
| 3. Deposit and withdrawal | Transferring money to your account can be 5 times longer and more expensive at one online broker compared to another. |
| 4. Products and markets | You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
Best international online brokers for citizens in Hong Kong
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers of 2020 for citizens in Hong Kong:
| Interactive Brokers | TD Ameritrade | Saxo Bank | Swissquote | TradeStation | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.9 | 4.8 | 4.5 | 4.7 |
| Best in | Best online broker | Best desktop trading platform | Best web trading platform | Best app for stock trading | |
| Fees score | 4.0 stars | 4.3 stars | 3.0 stars | 1.6 stars | 4.1 stars |
| Account opening score | 3.4 stars | 3.6 stars | 2.5 stars | 4.0 stars | 5.0 stars |
| Deposit and withdrawal score | 3.5 stars | 2.2 stars | 4.8 stars | 4.1 stars | 2.3 stars |
| Markets and products score | 5.0 stars | 4.0 stars | 5.0 stars | 5.0 stars | 2.7 stars |
| Web platform score | 4.3 stars | 4.3 stars | 5.0 stars | 4.3 stars | 4.5 stars |
| Open account | Open account | Open account |
Interactive Brokers is our winner, the best international online broker in Hong Kong of 2020. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comment section.
Still unsure? Use the broker finder and find the best international broker for you, or learn more about investing your money.
