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10 Best Forex Brokers in China

Best Forex Brokers in China

 

The Top 10 Best Forex Brokers in China revealed. We have rated and reviewed the best Forex Brokers accepting Chinese Traders.

 

This is a complete listing of The 10 Best Forex Brokers in ChinaIn this in-depth write-up you will learn:

 

  • Who is the Best Suited Broker for Beginner Chinese Traders?
  • Pros and Cons of Forex in China.
  • Chinese Yuan Accounts and how they work.
  • CNY ¥ Costs of Trading Forex

 

 

and much, much more!

 

 

The State Administration of Foreign Exchange (SAFE) – A Definition

 

The State Administration of Foreign Exchange (SAFE) is the national regulatory agency that oversees activities in China’s foreign exchange market.  The State Administration of Foreign Exchange (SAFE) functions as an official state-run bureau and forms part of the country’s central bank.

 

 

10 Best Forex Brokers in China in 2022 – A Comparison

 

🔎 Broker🤝 Accepts Chinese Traders💰 Minimum Deposit (USD)💰 Minimum Deposit (CNY)🚀 Open an Account
🥇 XM☑️ Yes$5 USD¥33.48👉 Click Here
🥈 AvaTrade✅ Yes$100 USD¥669.52👉 Click Here
📌 Etoro☑️ Yes$50 USD¥334.76👉 Click Here
📌 XTB✅ Yes$100 USD¥669.52👉 Click Here
📌 IG☑️ Yes$140 USD¥937.33👉 Click Here
📌 CMC Markets✅ Yes$10 USD¥66.95👉 Click Here
📌 Plus 500☑️ Yes$100 USD¥669.52👉 Click Here
📌 FXTM✅ Yes$10 USD¥66.95👉 Click Here
📌 HF Markets☑️ Yes$5 USD¥33.48👉 Click Here
📌 OctaFX✅ Yes$5 USD¥33.48👉 Click Here

 

 

 

10 Best Forex Brokers in China (2022)

 

  1. ☑️ XM – Overall, Best Broker in China
  2. ☑️ AvaTrade – Highly-Regulated Forex Broker
  3. ☑️ eToro – High Chinese Trust Score
  4. ☑️ XTB – Best Online Trading Experience
  5. IG – Low ¥ Minimum Deposit
  6. CMC Markets – Excellent Technical Tools
  7. Plus500 – Lowest Overall Costs in CNY
  8. FXTM – Award-Winning Broker in China
  9. HF Markets – Competitive Fees and Spreads
  10. OctaFX – Best Globally Regulated Broker

 

 

XM Review

XM

 

Overall, XM.com is considered a trustworthy broker with average risk with spreads as low as 0.6 pips and an above-average trust score of 84 out of 99. XM Group is not a publicly-traded company but is authorized by two tier-1 regulators (high trust).

 

XM Overview

 

🔎 Broker🥇 XM.com
📌 RegulationFCA
🎉 Bonus✅ Yes
🆓 Demo Account☑️ Yes
💵 Fees from$ 3.5
🔁 Spreads from0.6 pips
💳 CommissionAccount depending
🚩 Max Leverage1:888
💰 Minimum Deposit$5
🚀 Open an Account👉 Click Here

 

XM Landing Page

 

XM Pros and Cons

 

✔️ Pros❌ Cons
Low stock CFD and withdrawal feesLimited product portfolio
Easy and fast account openingAverage forex and stock index CFD fees
Great educational toolsNo investor protection for non-EU clients

 

Overall Rating

4.5/5

Rated #68 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

IFSC, CySec, ASIC

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

55

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XM

 

 

AvaTrade Review

 

AvaTrade

 

Overall, AvaTrade is considered a low-risk and can be summarized as a trustworthy forex broker. Regarding spread and security, AvaTrade guarantees fast trading speeds and secure trading conditions. In terms of users, AvaTrade has more than 500 000 registered clients globally.

 

AvaTrade Overview

 

🔎 Broker🥇 AvaTrade
💰 Minimum Deposit$100 USD
🚀BonusOpen a trading account in 1 minute
and receive up to $ 10.000 Bonus.
📱 MetaTrader 4 (MT4)Yes
📱 MetaTrader 5 (MT5)Yes
📊Trading Islamic AccountYes
🎮 Demo account providedYes
🚀 Open an Account👉 Click Here

 

Avatrade Landing Page

 

AvaTrade Pros and Cons

 

✅ Pros❌ Cons
Fee Free DepositLimit Offers
Low Trading FeesInactivity Fee
User FriendlyAdministration Fee

 

Overall Rating

4.8/5

Rated #1 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, FSA, CBI, BVI,FSCA,FRSA,CYCES, ISA, JFSA

📱 Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

📈 Total Pairs

55+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

eToro Review

eToro

 

Overall, eToro can be summarized as a credible and trustworthy broker and is considered low-risk with competitive trading fees and spreads. Etoro has an overall trust score of 91 out of 99. eToro offers a world-class social trading platform with immediate order execution.

 

eToro Overview

 

🔎 Broker🥇 eToro
📌 RegulationFCA, ASIC, CySEC
☪️ Islamic account✅ Yes
👍 Demo Account☑️ Yes
💰 Minimum Deposit$50 USD
📊 Institutional Accounts❌ No
📊 Managed Accounts✅ Yes
📈 Maximum Leverage20:1
🚀 Open an Account👉 Click Here

 

etoro Landing Page

 

eToro Pros and Cons

 

✔️ Pros❌ Cons
Used by 6,000,000+ tradersDoesn’t allow scalping
Established in 2006Inactivity Fee
Regulated by FCA, CySEC, and ASICLimited range of instruments

 

Overall Rating

4.8/5

Rated #20 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

CySec, FCA 

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

47

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

 

 

FXTM Review

 

XTB

 

Overall, XTB can be summarized as a trustworthy broker with a reputable reputation that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, indices, and user-friendly trading conditions to a global market.

 

XTB Overview

 

🔎 Broker🥇 XTB
💰 Min. DepositNone
🛑 Inactivity Fee$10 USD
🆓 Demo Account✅ Yes
🔁 Spreads from0.1
📌 CommissionsPro Account
🎉 Sign Up Bonus✅ Yes
🚀 Open an Account👉 Click Here

 

XTB-Landing-Page

 

XTB Pros and Cons

 

✔️ Pros❌ Cons
Lowest FX spreadsDoes not accept U.S. clients
Regulated by FCA (U.K.)Non-FX spread costs are high
Offers protection for client accountsNo guaranteed stop loss
Emphasis on customer serviceNo back-testing or automated trading capabilities

 

Overall Rating

4.6/5

Rated #69 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FCA, CySEC, IFSC, KNF

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XTB

 

 

IG Review

 

IG

 

IG Group can be summarized as a trustworthy broker that provides user-friendly trading conditions and quality educational material. It can be considered a low-risk option that is an excellent fit for pro traders.

 

IG Overview

 

🔎 Broker🥇 IG Group
💰 Trading Fee ClassHigh
💵 Inactivity Fee☑️ Yes
💳 Min. Deposit$140 USD
📌 Base Currencies6
🆓 Demo Account☑️ Yes
⚙️ Products OfferedETF/Forex/Options
🚀 Open an Account👉 Click Here

 

IG Landing Page

 

IG Pros and Cons

 

✅ Pros❌ Cons
Excellent Web-Trading PlatformHigh Fees
Educational ToolsLimited Product Portfolio
Great deposit and withdrawal optionsLacking Support

 

Overall Rating

4.8/5

Rated #38 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

CMC Markets Review

 

CMC Markets

 

Overall, CMC Markets can be summarized as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads. It is regulated by five tier-1 regulators (high trust) and one tier-2 regulator (average trust). It has a trust score of 99 out of 100.

 

CMC Markets Overview

 

🔎 Broker🥇 CMC Markets
💰 Min. Deposit$10 USD
🛑 Inactivity Fee☑️ Yes
💻 Demo Account☑️ Yes
💵 Base Currency10
🚀 Open an Account👉 Click Here

 

CMC Markets Landing Page

 

CMC Markets Pros and Cons

 

✔️ Pros❌ Cons
Low forex feesHigh stock CFD fees
Great mobile platformsOnly CFDs available
Advanced research toolsCustomer support only 24/5

 

Overall Rating

4.7/5

Rated #227 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, ASIC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

300

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

Plus500 Review

 

Plus500

 

Plus500 is a tier 1 regulated forex and CFD broker that offers low trading and commission fees. It has an overall high trust score of 97% out of 100 with a low-risk trading environment.

 

Plus500 Overview

 

🔎 Broker🥇 Plus500
💰 Min. Deposit$100 USD
🆓 Demo Account☑️ Yes
🔁 SpreadVariable
📈 Leverage1:30
💵 Base Currencies14
📉 Withdrawal Fee❌ No
📊 Deposit Fee❌ No

 

Plus500 Landing Page

 

Plus500 Pros and Cons

 

✅ Pros❌ Cons
User-FriendlyLack in Research Tools
Low Trading FeesAverage Education
Listed on the London Stock ExchangeLimited Product Range

 

Overall Rating

4.9/5

Rated #55 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA

Crypto

Yes (Availability subject to regulations)

📱 Trading Platform

WebTrader

📈 Total Pairs

70

📊 Trading Fees

Low

🕒 Account Activation Time

Varies

🏛️ Visit Broker

 

FXTM Review

 

FXTM

 

Overall, FXTM can be summarized as a trustworthy broker that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market.

 

FXTM Overview

 

🔎 Broker🥇 FXTM
📝 RegulationFCA / FSCA
💰 Min. Deposit$10 USD
☪️ Islamic Account☑️ Yes
🆓 Demo Account☑️ Yes
📈 Max Leverage1:2000

 

FXTM Landing Page

 

FXTM Pros and Cons

 

✅ Pros❌ Cons
Excellent Customer ServiceHigh Stock CFD Fees
Great Educational ToolsInactivity Fee
No Deposit FeeNo Price Alert

 

Overall Rating

4.6/5

Rated #32 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

CySec, FSCA 

📱 Trading Desk

MetaTrader4, Metatrader 5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

HFM Review

 

HF Markets

 

Overall, HF Markets can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 100+ trading instruments. It is regulated by one tier-1 regulator (highest trust) and three tier-2 regulators (medium trust). It has a trust score of 95% out of 100.

 

HF Markets Overview

 

🔎 Brokers Name🥇 HF Markets Ltd
⚖️ Regulation
CySEC, FCA, FSCA
💳 Minimum deposit$5 USD
💰 Maximum Leverage
1000:1
🔘 Asset Types
Forex, Metals, etc.
📊 Trading platformsWeb, MT4, MT5

📈 Types of accountsPremium: min $100

Zero Spread: min $200

Auto: min $200

HFcopy: min $500

💳 Supported lot

0.01 - 500

💳 Demo☑️ Yes
🚀 Open an Account👉 Click Here

 

HotForex Welcome Bonus

 

HF Markets Pros and Cons

 

✔️ Pros❌ Cons
Segregates client fundsLimited range of instruments
Regulated by CySECNot FCA Regulated

 

Overall Rating

4.8/5

Rated #6 out of 66
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FCA, FSA, DFSA, FSCA, CMA

📱 Trading Desk

MT4, MT5

Crypto

No

📈 Total Pairs

50+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

OctaFX Review

 

OctaFX

 

Overall, OctaFX can be summarised as a trustworthy and worthwhile broker with a trust score of 90 out of 100. OctaFX is very competitive in terms of its trading fees, with low spreads rounding off its offerings.

 

OctaFX Overview

 

🔎 Broker's NameOctaFX
📍 HeadquarteredKingstown, St Vincent, and the Grenadines
📅 Year Founded2011
⚖️ Regulating AuthoritiesSVGFSA
🌐 Countries not accepted for tradeThe United States, Canada, Belgium, and others outside Europe
☪️ Islamic account (swap-free)Yes
👍 Demo AccountYes
📊 Institutional AccountsNo
📊 Managed AccountsNo
📈 Maximum Leverage1:500
💰 Minimum Deposit5 USD
💳 Deposit OptionsVisa
Bitcoin
Skrill
Neteller
💳 Withdrawal OptionsVisa
Bitcoin
Skrill
Neteller
💻 Platform TypesMetaTrader 4, MetaTrader 5, cTrader
📱 OS CompatibilityDesktop, iOS, and Android
📈 Tradable assets offeredForex, metals, stock indices, cryptocurrencies, and energies
👨‍💼 Languages supported on WebsiteEnglish, Indonesian, Malay, Hindi, Urdu, Thai and Vietnamese
👥 Customer Support LanguagesEnglish, Indonesian, Malay, Hindi, Urdu, Thai and Vietnamese
📆 Customer Service Hours24/7
🚀 Open an Account👉 Click Here

 

OctaFX Overview

 

OctaFX Pros and Cons

 

✔️ Pros❌ Cons
octafx.eu domain is Regulated and authorized by CySECLimited assets
Unlimited demo accountLow Crypto coverage
Advanced technologyNo VPS
Forex and CFDs offeredNo education tools on Forex
More than 30 FX pairs to tradeTelephonic support not available 24/7
No commission deposits or withdrawal optionsNo clients from USA, Canada, Belgium, or others outside EU

 

Overall Rating

4.8/5

Rated #8 of
Recommended FX Brokers

💰Minimum Deposit

$5

🌐 Regulators

SVGFSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Very Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Official Website

 

 

Conclusion

 

👉 Now it is your turn to participate:

 

➡️ Which Chinese broker from this list do you intend to test out?

➡️ What was the determining factor in your decision to engage with a certain broker?

➡️ Was it because of the CNY (¥) minimum deposit or the Pros and Cons?

 

👉 Regardless, please share your thoughts in the comments below.

 

 

You might also like:  XM Review

You might also like:  AvaTrade Review

You might also like:  HFM Markets Review

You might also like:  Etoro Review

 

 

Disclaimer

 

Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.

Traders need to ensure that they understand their risk exposure and they need to determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.

 

 

Frequently Asked Questions

 

Is forex trading legal in China?

Yes.  Forex Trading is 100% legal in China.

 

Which is the most used forex broker in China?

According to research, HFM Markets is the most popular broker choice in China.

 

How many forex traders are currently active in China?

The rough estimate is approximately 50 000 active Chinese traders per month.

 

Can you make money with forex trading in China?

Yes.  However, according to research, approximately 75% of all traders lose money due to a wide number of factors.

 

Who regulates Forex Trading in China?

Forex trading in China falls under the regulatory authority of the State Administration of Foreign Exchange (SAFE).

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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FINEXO Review

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