Mr. Zhao from Hangzhou opened an account with Futu in 2024 and has gradually deposited several hundred thousand Hong Kong dollars to trade Hong Kong stocks.

This year, he wanted to open another account to diversify his risk, but discovered that the Futu and Tiger apps had already been removed from mainland app stores; when he clicked on them, a message appeared stating, ’Services are not available to users within China.”

He was a little worried: Has this avenue for mainland residents to buy Hong Kong and U.S. stocks been completely shut down?

01

2026: The Turning Point

The key date is May 22, 2026. The China Securities Regulatory Commission (CSRC) formally launched an investigation into the “illegal cross-border business operations” of entities associated with Futu, Tiger, and Changqiao. Document No. 42, issued jointly by eight government departments, explicitly states that any form of illegal cross-border securities services is strictly prohibited within China.

Existing customers of Futu, Tiger, and Changqiao can still trade, but it’s virtually impossible for new mainland users to sign up. The online tutorials that offer “step-by-step guides to opening a Futu account” are largely outdated.

But the answer isn’t that clear-cut. Regulators are cracking down on ’illegal cross-border business operations conducted through domestic channels,” not shutting the door on compliant investments.

02

Option 3: Hong Kong ID Card + Licensed Hong Kong Brokerage Firm

At the Lujiazui Forum in June 2026, the Chairman of the China Securities Regulatory Commission (CSRC) made it clear that the commission would continue to support compliant cross-border investments. In the same month, a circular issued by the Hong Kong Securities and Futures Commission (SFC) clarified that licensed Hong Kong brokerages may continue to open accounts for mainland clients, provided that the services are not provided on the mainland and the funds are legally sourced from overseas.

This opens up the ’third way”: a local Hong Kong bank account plus a licensed Hong Kong brokerage firm, both established overseas, with the capital flow also routed through overseas channels.

Why a Hong Kong bank card? The Hong Kong Securities and Futures Commission has clarified that if funds are transferred from a local Hong Kong bank account into a securities account, they can, in principle, be deemed legitimate overseas funds. A Hong Kong bank card is the gateway to this process.

If you’re facing a similar situation—wanting to trade Hong Kong and U.S. stocks using a “Hong Kong bank card + Hong Kong brokerage” setup but unsure how to open an account or manage your funds—feel free to scan the QR code to contact Qicaiying’s online customer service (WeChat/Phone: 18620388671). We’ll help you sort out the compliance process once and for all. Feel free to scan the QR code to contact Qicaiying’s online customer service (WeChat/Phone: 18620388671), and we’ll help you sort out this entire process from start to finish.

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03

What's the fastest way to open a Hong Kong credit card?

As of 2026, there are three main ways for mainland residents to apply for a Hong Kong credit card.

Account Opening with a Guarantor: HSBC, Standard Chartered, and Bank of China (Hong Kong) support the mainland guarantor process, which requires depositing 500,000 RMB for three months at designated branches in Beijing, Shanghai, Guangzhou, or Shenzhen.

Opening a Bank Account in Hong Kong: With a travel permit, you can complete the process on the same day. Bank of China (Hong Kong), HSBC, and ICBC Asia all support this service, with cards issued as quickly as one hour.

Remote Video: Supported by ZA Bank and ZhongAn; low entry barrier but limited functionality—cannot be used for securities deposits. Best suited for trading Hong Kong and U.S. stocks—opening an account in Hong Kong is the most suitable option, allowing you to open an account and link a securities account on the same day.

04

How to Choose a Brokerage Firm

As of 2026, there are four licensed Hong Kong brokerage firms commonly used by mainland investors.

Interactive Brokers (IBKR) is the world’s oldest brokerage firm, offering comprehensive coverage of Hong Kong, U.S., and Singapore stocks, with no account management fees—making it ideal for frequent traders. The downside is that Chinese-language support is limited.

Futuhong Kong is an independently operated Hong Kong subsidiary offering the best Chinese-language app experience, with commissions starting at 0.031 TP3T. Huasheng Securities offers Hong Kong stock commissions as low as 0.011 TP3T and a great app experience. Zunjia Securities charges no platform fees and is suitable for long-term, low-frequency trading.

Choose a broker based on trading frequency and product offerings. For high-frequency trading, choose Huasheng or Zunjia; for multi-market trading, choose Interactive Brokers; and for those looking for a great user experience, choose Futu Hong Kong.

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05

Three Risks to Avoid

First, to avoid being deemed to have ’accessed services through domestic channels”—try to open accounts, conduct trades, and access information primarily through networks in Hong Kong or overseas.

Second, if account opening documents are suspicious or forged—including income statements that do not match actual income or proof of address with obvious signs of photo manipulation—the system will periodically perform batch scans.

Third, the statement regarding the source of funds was not signed in a timely manner. The new regulations require a written declaration for each investment account opened, stating that the funds come from a legitimate source outside mainland China. Failure to sign the statement by the deadline will result in the account being flagged as pending compliance until it is closed.

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