I only found out today that after learning the three brokerages were fined, some people thought that no Hong Kong broker would be able to open accounts at all!!!
And I even thought it would be really difficult to open an account with a Hong Kong card!
ohnonono Let me tell everyone the latest situation
The real situation right now is this:
Regulation has indeed tightened,
But Hong Kong brokers have not completely stopped account opening,
Hong Kong cards have not been completely shut down either.
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Why were the three brokerages investigated in the first place?
On May 22, 2026, the China Securities Regulatory Commission announced that it has filed case(s) for investigation against relevant domestic and overseas parties of Tiger Brokers, Futu Securities, and Bridge Securities, and issued a pre-decision notice of administrative penalties.
The issues identified by the authorities mainly focus on three institutions that carried out securities trading marketing promotion, handled trading instructions, conducted margin financing and securities lending, sold public funds, and acted as futures brokers within China without approval from relevant Mainland regulatory authorities. In other words, this crackdown targets illegal securities business activities conducted by overseas institutions in Mainland China.
Therefore, investigating the three brokers does not directly imply that “all Hong Kong brokers cannot open accounts.”
Hong Kong’s securities market is still operating normally, and licensed brokers in Hong Kong are still regulated by the Hong Kong Securities and Futures Commission (SFC).
It’s just that having a licensed securities firm does not mean the broker can directly solicit customers, provide trading access, or handle trading instructions in Mainland China.
These two concepts are often mixed up by many people.
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So, can mainland ID cards still open accounts with Hong Kong securities firms now?
The answer is:
Some licensed Hong Kong securities brokers still accept applications from mainland customers,
But the conditions have clearly diverged.
Some brokers require the applicant to handle the process in Hong Kong in person.
For example, Fosun, Yinglee, and others
A small number of brokers still allow online submission of applications,
For example, Prosperity Securities, Edents, and Tenda Securities
In the end, whether you can pass depends on the broker’s compliance review.
(Of course, if the three firms—Prosperity, Edents, and Tenda—want to get reviewed quickly,
You can come find me)
So don’t just ask now:
“Can you still open an account with a Hong Kong securities broker?”
You should clarify four things instead:
Does this broker have an SFC license in Hong Kong?
Does it currently accept your own ID and place of residence?
Do you need to go to Hong Kong in person?
After opening an account, what are the conditions for depositing funds, trading, and withdrawing funds, respectively?
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The third question
Are opening a Hong Kong card also becoming especially difficult?
Hong Kong card account opening hasn’t been fully halted, but the review is indeed stricter than before.
HSBC Hong Kong
Mainland residents can still apply for accounts with HSBC Hong Kong. You can first submit information via the App, and then, after that, activate the account in Hong Kong according to the requirements. Note that after January 1, 2026, if you open HSBC One using an ID card that is not a Hong Kong ID, you need to maintain a total comprehensive wealth value of HKD 10,000.
If you can’t meet the requirements, you will generally be charged a low balance service fee of HKD 100 per month, but you won’t have your account closed automatically just because your balance is insufficient.
Bank of China (Hong Kong)
Bank of China (Hong Kong) currently also accepts account openings from visitors from Mainland China, typically requiring the applicant to be physically in Hong Kong and to apply via the App or at a branch in person.
Usually you need to prepare your ID card, Mainland-to-Hong Kong/Macau Travel Permit, and fill in your occupation, income, purpose of opening the account, and source of funds. There is currently no unified requirement that ordinary accounts must deposit HKD 10,000, but you should ask clearly at the time of account opening about the specific account tier and the fee schedule.
WeBank (ZA Bank)
ZA Bank is a Hong Kong virtual bank. Mainland tourists can apply via their phone, but you must be in Hong Kong at the time of account opening. Usually you need an ID card, entry/exit records, a Mainland mobile number, and a bank card in your own name. It has no minimum deposit requirement and won’t charge management fees simply because your account balance is low. It’s relatively suitable for people who don’t have a large amount of funds at the moment.
Hang Seng Bank
Hang Seng generally requires the applicant to go to Hong Kong. After submitting information via the App, they complete identity verification. When opening an account, pay special attention to the account tier: the asset requirements for ordinary accounts and high-end wealth management accounts can differ significantly. Don’t upgrade an account just for opening gifts. It’s best to ask first whether a fee will be charged if your balance is insufficient.
WeLab Bank
WeLab is also a virtual bank in Hong Kong. Eligible mainland visitors can apply by phone. When opening an account, you generally must be physically in Hong Kong and provide your ID card and entry/exit records. It has no minimum deposit requirement and no account-management fee for low balances. However, for large remittances and connecting with certain securities firms, traditional banks may be more convenient.
Standard Chartered Hong Kong
Standard Chartered’s online account opening mainly targets holders of Hong Kong ID cards. If you only have a Mainland ID card and a Mainland-to-Hong Kong/Macau Travel Permit, you usually need to consult a branch to proceed. Asset thresholds differ significantly across different account tiers, so you shouldn’t compare ordinary accounts and priority wealth management accounts as if they were the same. Before applying, be sure to ask clearly about the eligibility threshold, the minimum balance, and fees for balances below the minimum.
Mox Bank
Mox is also a virtual bank in Hong Kong, but it currently usually requires applicants to hold a Hong Kong ID card and a Hong Kong residential address. Ordinary visitors from mainland China only have an ID card and a Mainland-to-Hong Kong/Macau Travel Permit, and generally do not meet the account-opening requirements. Therefore, just because WeBank, WeLab, etc. can open accounts, it doesn’t mean all Hong Kong virtual banks support mainland visitors.
Simply put: Hong Kong cards can still be opened for now, but each bank’s requirements differ.
Before opening an account, you must read clearly: whether you need to go to Hong Kong in person, what the minimum balance is, whether fees apply when the balance is below the threshold, and what exact account tier you’re opening.
⚠️ However, for ordinary savings accounts, Hong Kong banks still review applications using a risk-based approach. Different banks, different branches, and even the same bank’s online versus in-person review outcomes may differ. The Hong Kong Monetary Authority has also clearly reminded people that banks’ account-opening requirements are not identical. Applicants should compare requirements across different banks based on their own circumstances.
A Hong Kong card is only a Hong Kong bank account. It can handle basic needs like receiving payments, exchanging currencies, and depositing/withdrawing funds with brokers, but it cannot automatically solve cross-border fund compliance issues.
Don’t forge overseas addresses, employment documents, or sources of funds for the sake of opening an account, and don’t trust so-called “packaged materials” or intermediary services that “guarantee you’ll pass.” If your documents have issues, you may later face additional reviews, trading restrictions, frozen transfers, or even account closures.
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To summarize simply:
Hong Kong securities brokers have not completely stopped opening accounts, and Hong Kong card accounts have not been fully shut down.
After regulators tightened oversight, purely online, low-review, customer-acquisition methods that rely on mainland promotion are rapidly decreasing. Requirements for compliance account-opening materials and reviews of the source of funds are becoming increasingly strict.
For people who truly have needs for investing in US/Canadian stocks, subscribing to new Hong Kong listings, or allocating overseas assets, there are still account-opening channels available today.
When opening an account now, what you truly should focus on is the broker’s license, eligibility to open an account, service jurisdictions, source of funds, deposit/withdrawal routes, and ongoing services—rather than only how many stocks or how much cash the signup link offers.
So after the three securities firms were investigated, Hong Kong brokers didn’t collectively disappear.
The door is still open, but the identity verification at the doorstep, fund reviews, and compliance checks are clearly stricter than before.
This article is for整理 and sharing public information only and does not constitute any investment advice. DYOR $NVDAB $BTC