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Best Forex Brokers in China 2023

Best Forex Brokers China 2021

Several international forex brokers offer trading for Chinese residents and companies. As of 2019, China has around 200,000 active traders. So, there are not many brokers who offer services in China. Hence, you will have to sort out the best forex brokers in China from a limited number of brokerages. But still, there are many China forex brokers out there to offer quality forex trading services.

This article will provide you with the top forex brokers list in China and the ti to choosing the brokers.

Best Forex Brokers in China List:

 

RANK VISIT
BROKER
REGULATION

We only list licensed brokers that comply with the requirements of prominent regulatory agencies.

MIN
DEPOSIT

The minimum amount you need to deposit in order to start trading.

DEPOSIT
BONUS
RATING MAX
LEVERAGE

Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.

PAYMENT
SYSTEM
SUPPORT START
TRADING
1
ASIC, CySEC
$100
No Bonus
1:500

Telephone: +44 28 2544 7780

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Pros
  • Excellent education tools
  • Low forex fees
  • Fast account opening
  • Easy funding methods
Cons
  • No bonuses
Platforms & Devices
2
FCA, CySEC, FSCA, SCB
$100
No Bonus
1:100

Telephone: +44 (0) 203 151 5550

image
Pros
  • Excellent customer service
  • Free deposit and withdrawal
  • Negative balance protection
  • Wide range of platform
Cons
  • Inactivity fee
  • High Trading Fees for some CFDs
Platforms & Devices
3
FSC
$100
65%
1:200

Telephone: +52 556 826 8868

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Pros
  • Different passive income options
  • Discount on commissions for active traders
  • Positive price correction
  • Tight market spreads
Cons
  • Low leverage
  • Less research tools
Platforms & Devices
4
ASIC, CySEC, FSA, SCB
$200
No Bonus
1:500

Telephone: +248 467 19 76

image
Pros
  • Low forex fees
  • Fast order execution
  • Analytical training materials
  • 90+ instruments
Cons
  • Slow live chat support
  • Non-EU traders don’t get investor protection
Platforms & Devices
5
ASIC, CySEC
$1
100%
1:3000

Telephone: +35 7251 23212

image
Pros
  • No withdrawal fee
  • Low stock and stock index CFD fees
  • Negative balance protection
  • No inactivity fee
Cons
  • Average forex CFD fees
  • No PAMM accounts
Platforms & Devices
6
FSA
$0
No Bonus
1:500

Telephone:

image
Pros
  • 9 base currencies
  • 24/7 technical service
  • Direct market access
  • VPS, FIX API, copy trading
  • Superior trading conditions
Cons
  • No negative balance protection
  • Withdrawal fees
Platforms & Devices
7
ASIC, CySEC, FSC
$5
Up to $5000
1:1000

Telephone: +501 223-6696

image
Pros
  • Low withdrawal fees
  • Great educational tools
  • Wide range of leverage
  • Multilingual customer support
Cons
  • Non-EU traders don’t get investor protection
  • Lack of weekend customer support
Platforms & Devices
8
FCA, DFSA, FSCA, FSA, CMA
$5
100%
1:1000

Telephone: +44-2030978571

image
Pros
  • Low spread
  • Controlled by several regulators
  • Numerous deposit and withdrawal
  • Favorable trading conditions
Cons
  • Few account currencies
  • Only USD or EUR as base currencies
Platforms & Devices
9
ASIC, FCA
$0
No Bonus
1:500

Telephone: +61 2 9965 5830

image
Pros
  • Automatic insurance coverage
  • Low entry threshold
  • Fully digital account opening
  • Low forex fees
Cons
  • Limited research tools
  • Only forex and CFD trading
Platforms & Devices
10
FCA, ASIC, DFSA
$200
No Bonus
1:30

Telephone: +1786 628 1209

image
Pros
  • Digital account opening process
  • Seamless deposit and withdrawal
  • Attractive trading conditions
  • No inactivity fee
Cons
  • No cent account
  • Few analytical materials
Platforms & Devices

Can You Trade Forex in China?

Although the Chinese government has strict rules regarding forex trading, Chinese nationals can do it legally. Retail traders have an annual limit on trading currency, stocks, and other instruments. Since you will be trading with an offshore broker, you may bypass the limit.

Can I Use MT4 in China?

Yes, you can use MT4 in China. You will get access to MetaTrader platforms using the regulated forex brokers in China. The MetaTrader started providing support using China UnionPay in 2015. Therefore, MT4 users in China can access the forex market, order trading robots, buy virtual hosting services, and do trading signal subscriptions.

Tips to Choose the Best Forex Brokers in China

If you’re considering trading forex in China, one of your most important decisions is choosing the right place to trade. Many factors go into choosing the best China forex brokers, and here are a few tips that may help you.

Understand Forex

The first thing you need to do is learn more about Forex trading before selecting a broker. Read news articles, blogs, and forums to get a general idea of what brokers can offer in terms of features. Make sure they offer multiple asset classes, such as forex, commodities, metals, stock, and more.

Features, Services, and Regulations

Next, make sure they offer the features and services you require. They should have at least a demo account. Some brokers take you through the account set-up process right away. You should expect them to be familiar with markets, as well as currency pairs and spreads. You also need to know that top authorities around the world regulate them. This is important because it means that trading on their platform is subjected to strict financial regulation.

Make sure they are regulated by at least one country’s regulatory body. This is a highly essential important aspect because it means that they are subjected to rules and regulations that ensure traders’ safety. It also means that traders’ funds are protected, especially since brokers are usually required to hold a certain amount of capital in reserve.

Trading Platform

Another thing to consider is their trading platform. Look for an easy to use one and has a clean interface, such as MT4 or MT4. Best forex brokers in China may also have their customized platform. But make sure it is mobile friendly.

Charts and Stop Loss Order

You should be able to get into the information easily, which includes charts and historical data. They should also offer easy ways of executing orders and placing stop losses, and limiting orders.

Know that the broker will return a large portion of your trading capital if you lose it. This is a big plus since many brokers don’t return any of your capital if you lose money.

Customer Service

Make sure they have offices and representatives around the globe. However, it is not mandatory if the broker prompts customer support. Therefore, they should offer online customer support 24 hours a day across various time zones. Also, check to see if they offer competitive spreads and commission rates, as well as which country’s regulation, applies to their trading platform.

Tools and Resources

Learn about the resources and tools they offer. Some forex trading platforms in China provide technical analysis indicators. This is a plus because it means you can access analytical data to help you make better trades. In addition, some brokers offer demo accounts with paper money, where you can practice before trading with real money.

Trading Account Conditions

You need to know that online Forex trading is subject to market volatility. Therefore, you should know the conditions of your trading account and how the broker maintains it. In addition, stick to credit cards instead of debit cards when depositing and withdrawing money because it’s safer.

Risk Factors

You should also be aware that there are different types of risks you may encounter when trading Forex. For instance, there’s the risk of losing your capital, market volatility, and market speculation. This is why should deeply comprehend how brokers manage these risks. They should also offer a live account tracker so you can view the live market before placing orders.

Testimonial

Check the client testimonials from satisfied traders on their websites and their broker reviews on forex forums. Also, look about the platform’s info.

Account Size

Lastly, make sure they have a minimum account size that you can trade with. You may also want to set your trading platform to limit orders so that you don’t have to sit and wait for your order to be executed.

Why China has Fewer Forex Traders?

China strictly controls the forex market, and the government banned margin trading totally while also putting restrictions on other forex trading activities. This led to a decline in the number of forex traders in China.

China has had a long history of trading restrictions. China restricted enterprises from investing and repatriating foreign exchange funds. On top of that, China imposes tight capital controls and high transaction fees for cross-border payments.

As a result, the number of forex traders in China has declined in recent years and remains less than that in other big Asian countries like India.

Regulations are not the only reason affecting the growth of forex trading in China as it had been a small forex market compared with that of other countries even before such regulations were imposed.

Even though China has many restrictions on its forex market, there are still some benefits that forex traders can get from this market. The main benefit of forex trading is the ability to monitor your balance or account at all times. You can see the profit amount you have made over time and adjust your trades accordingly. You can also monitor your losses so that you can understand and justify where you stand.

Final Words

When it comes to the best forex brokers for beginners in China, it’s important for traders to find a broker who is regulated by any top regulations in the world. However, picking such brokers is not an easy task. Therefore, you need to follow some tips which you already know, as we have mentioned earlier.

Also, you may check out our China forex brokers list at the top of this article.

I hope that this article can help guide you towards greater opportunities for success.

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