For most CFD traders in Hong Kong we prefer Pepperstone: Razor raw spreads with fixed commissions, HKD accounts and cTrader, MT4, MT5 and TradingView on one account. IG wins on range, with more than 17,000 markets and weekend Hang Seng prices. Neither serves Hong Kong CFD clients through an SFC licence.
Short answer: Choose Pepperstone for pricing and platform choice, IG if you need its huge market list or weekend trading; both are offshore for Hong Kong CFD clients.
IG's Hong Kong-facing site says CFD accounts are provided by IG International Limited, authorised by the Bermuda Monetary Authority.
Pepperstone's English international site is run by Pepperstone Markets Limited, regulated by the Securities Commission of The Bahamas.
Pepperstone: 1,350-plus CFDs, HK50 at 5 points with no commission, Razor forex from 0.0 plus commission.
IG: more than 17,000 markets, weekend HS50, Wall Street, Germany 40, US Tech 100 and UK 100, and platforms including MT4, ProRealTime and L2 Dealer.
We could not verify Plus500, Exness, XM or Vantage's Hong Kong terms on their own sites, so we state only Pepperstone's side for those.
How we compared
We used only what each firm publishes on its own website for Hong Kong visitors. Where a competitor's site blocked our checks or redirected us by location, we say so instead of filling the gap from review sites. For licence questions, use the SFC public register for Hong Kong firms and the home regulator's register for offshore ones.
Pepperstone's honest weak points against bigger rivals: a smaller market list, no weekend index trading, no guaranteed stops and no SFC licence. Its strengths: transparent raw pricing, five platforms, an HKD base currency and a $10 minimum.
Our pick
Raw-spread pricing, HK50 at a published 5 points, HKD accounts and five platforms on one login; regulated in The Bahamas, not by the SFC.
XS publishes no loss percentage; its risk warning says it is possible to lose all your capital.
Pepperstone, Capital.com and XS are our partners. We may earn a commission if you open an account through our links. That does not change the facts on this page.
Your questions, answered
Pepperstone vs Plus500, which should I choose?
Plus500's site blocked our automated checks, so we could not confirm its Hong Kong entity or terms, and we will not guess them. What we can say is what Pepperstone offers you: MT4, MT5, cTrader and TradingView, a choice between commission-free Standard and raw-spread Razor pricing, and an HKD base account. Before choosing Plus500, look up the company named on its Hong Kong client agreement on that regulator's register.
Pepperstone vs Capital.com: which has lower fees?
For frequent forex traders, Pepperstone Razor is usually cheaper, because raw spreads plus $7 round-trip commission tend to beat an all-in spread. For occasional traders, Capital.com is simpler: no commission, no deposit or withdrawal fees. On HK50 the two looked level when we checked, at 5 points each. Watch Capital.com's 0.7% currency conversion on markets in a different currency from your account, and Pepperstone's $20 fee on international bank withdrawals.
Pepperstone vs IC Markets, which has lower spreads?
On forex they are close. Both charge $3.50 per lot per side on their MetaTrader raw accounts. IC Markets states a 0.1-pip average on EUR/USD; Pepperstone publishes a 0.0 minimum, which is a different measure, so the two numbers are not directly comparable. IC Markets' global site is run by Raw Trading Ltd, licensed by the Seychelles FSA (SD018). Run both demos side by side on the same pair to see real averages.
Is Pepperstone or Exness better?
Exness's site redirected us by location, so we could not verify which company it uses for Hong Kong or its terms here, and we will not compare figures we have not checked. For Pepperstone, the verified case is regulation at group level by ASIC, the FCA, BaFin and others, transparent Razor commissions, an HKD account and cTrader. If high leverage is what draws you to a rival, remember Pepperstone's retail 1:200 is already ten times the SFC's limit.
How does Pepperstone compare with ATFX?
ATFX's site lists an SFC licence in Hong Kong, CE number BUM667, among its group licences, which Pepperstone does not have. Check the SFC register for which regulated activities that licence covers before assuming it applies to CFD trading. Pepperstone's case rests on platform choice, including cTrader and TradingView, raw-spread pricing and a $10 minimum. If an SFC-licensed firm matters most to you, that point favours ATFX.
Pepperstone vs Mitrade, which is better for beginners?
Mitrade's site lists licences from South Africa's FSCA, Australia's ASIC and an EU regulator, and runs its own web, desktop and mobile platform; we did not see an SFC licence listed. For beginners, Pepperstone's Standard account keeps costs simple, its demo lets you practise for 60 days, and you can later move to MT5 or TradingView without changing broker. Mitrade's single platform may feel simpler on day one, so try both demos.
Pepperstone vs Vantage: which is better for trading gold?
Vantage's site blocked our checks, so we have no verified Vantage gold pricing to compare. Pepperstone's gold terms are clear: Razor spot gold spreads from 0.08 plus $3.50 per lot per side, or the commission-free Standard account, retail leverage up to 1:200, and gold also quoted in yuan as XAUCNH. Compare the two in demo at the same time, during the US session when gold is most active.
What are the best alternatives to IG for CFD trading in Hong Kong?
Our alternatives are Pepperstone first, then Capital.com and XS. Pepperstone gives you more platform choice, adding cTrader to MetaTrader and TradingView, plus raw pricing. Capital.com suits traders who like IG's single-app style, with 5,500-plus markets and guaranteed stops. If what you value in IG is a large, long-established group, also consider an SFC-licensed firm such as Saxo Capital Markets HK Limited.
Pepperstone vs XM: which is better?
XM's site blocked our checks, so we could not confirm its Hong Kong entity or pricing and will not compare unverified numbers. On Pepperstone's side: five platforms, HK50 and HSTECH CFDs, a published 5-point HK50 spread, HKD accounts and negative balance protection for retail clients. If you are weighing XM, the quickest test is to read the company name on its client agreement and check it on that regulator's site.
What are the best alternatives to Exness in Hong Kong?
Pepperstone is our first alternative, then Capital.com and XS, all of which accept Hong Kong residents on their own sign-up pages. Traders often choose Exness for leverage; XS offers dynamic leverage up to 1:2000 and Pepperstone up to 1:200 for retail, both far above SFC limits. If you want lower risk rather than higher leverage, an SFC-licensed broker is the opposite choice, with leverage capped at 20:1 on forex.
Which is better for trading the Hang Seng, Pepperstone or IG?
For weekday Hang Seng trading, we prefer Pepperstone: a published 5-point spread on HK50 with no commission, a session into the Hong Kong night, and HSTECH and China A50 alongside. IG wins at weekends, offering a Weekend Hong Kong HS50 market on Saturday and Sunday that Pepperstone does not have. We did not find IG's HS50 spread published on its Hong Kong-facing site, so compare quotes live.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Our pick
Commission-free alternative
Raw spreads on MT4/MT5