What is a cryptocurrency exchange?
Currently, there are four SFC-approved licensed virtual asset trading platforms in Hong Kong, namely FTNZ, OSL, Victory Securities and HashKey Exchange. Among the four platforms, FTNZ is the first choice for most Hong Kong investors to get started! With spread-based fees, no fixed commissions, and the ability to manage both Hong Kong stocks and crypto assets within the same app, FTNB offers the highest level of integration and the lowest threshold for investors who are accustomed to cross-asset allocation.
OSL is one of the earliest licensed exchanges in Hong Kong and is a reliable choice for long-term investors because it is free of charge and has a solid compliance foundation.
For those who prefer fixed and transparent rates, they can consider Victory Securities, with a fixed handling fee of 0.2% and a minimum HKD7 entry, which is the clearest pricing option among the four major platforms.
HashKey Exchange has the largest selection of cryptocurrencies, with over 30 cryptocurrencies available for trading, and will be listed on the Main Board of the Hong Kong Stock Exchange in December 2025 (stock code: 3887.HK), making it suitable for advanced investors or users with multi-currency needs.
In this article, we will compare the four major platforms in terms of trading fees, minimum investment thresholds, ease of depositing and withdrawing funds, and regulatory compliance levels to help you choose the one that best suits your needs!
What are the two options for buying Bitcoin in Hong Kong?
In Hong Kong, general investors are free to trade Bitcoin and Ether and there are two ways to invest:
- Buy Bitcoin and Ether directly
- Buy Bitcoin ETFs, Ether ETFs
Both methods have their advantages, with direct cryptocurrency purchases enjoying greater market flexibility, while ETFs are suitable for those who wish to invest within a traditional financial framework.
What are the 6 criteria for choosing a cryptocurrency exchange in Hong Kong?
There are numerous virtual currency trading platforms around the world, which ones are suitable for newcomers to the Hong Kong cryptocurrency market? There are a number of factors to consider when evaluating the suitability of a trading platform. Below is a summary of the 6 most important criteria to consider, including:
- Secure and reliable trading system
- Transaction Fee
- Enriched Trading Functions
- HKD/USD In/Out Gold Options
- Transaction interface for Hong Kong people
- License Compliance and Regulatory Protection
Extended Reading:
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2026 Hong Kong OTC Trading Compliance Methods
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Trading Platform Choice 1: Futura Securities
Futu, one of the most familiar investment platforms for retail investors in Hong Kong, has expanded its services to include virtual currency trading in recent years. Futu holds SFC Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) licenses, and offers cryptocurrency trading services to Hong Kong users through this framework.
License Description: Through its wholly owned subsidiary, PantherTrade, FTNB was awarded the SFC VATP (Virtual Asset Trading Platform) license in March 2026 and is fully licensed to operate. Client's crypto assets are protected by the same regulatory framework as OSL, HashKey, and Victory Securities, including asset segregation, hot and cold wallet segregation, and regular audits. FTSE holds an SFC Type 1/4/9 securities license, which forms a dual regulatory framework with its PantherTrade VATP license.
FTSE Key Features:
- Transaction Fee: 0% commission (profit from bid/ask spread, actual transaction cost about 0.1%-0.5%)
- Minimum Single Transaction: HKD 80
- Minimum deposit for account opening: HKD 10,000
- Supported currencies: about 19 currencies (including BTC, ETH, SOL and other mainstream currencies)
- Core Advantage: 3-in-1 management of Hong Kong stocks, U.S. stocks and crypto assets with familiar interface operation, suitable for investors who wish to conduct cross-asset allocation on the same platform.
Target: Investors who are already using FTNB to manage their stock portfolios, want to test the waters of crypto assets on the same platform, or are waiting for the VATP license to be formally approved to expand their positions.
Extended Reading:2026 FTSE BULLETINS Tutorials｜Opening an Account, Depositing and Withdrawing Funds, Buying Coins
Trading Platform Option 2: OSL
Being a Hong KongFirst to be licensed by the Securities and Futures Commission (SFC)As a virtual asset exchange, OSL was awarded Type 1 (securities trading) and Type 7 (automated trading services) licenses as early as 2020, entering the market earlier than most platforms today and completing the regulatory compliance process first.
Unlike VSCL, which is a licensed securities dealer, OSL is essentially a CEX, specializing in digital asset trading, brokerage and custody solutions. OSL's parent company is Hong Kong-listed BC Technology Group (HKG.0863), which gives it a high degree of transparency and requires it to undergo regular financial audits by the Big Four, in stark contrast to many private exchanges. This contrasts sharply with many private exchanges and reduces the risk of a platform running out of business.
OSL adoption Bank-level security standardsThe new technology includes hot and cold wallet segregation technology and 2FA to ensure that user assets are fully protected during transactions. For Emphasis on regulation and safety OSL offers a highly compliant trading environment, making it one of the most favored platforms for institutional and professional investors in the Hong Kong market.
In terms of transaction costs, although OSL charges a transaction fee of 0.3%, which is slightly higher than VSCL's 0% transaction fee model, OSL is still a solid choice for investors seeking a regulated platform and wishing to deposit/withdraw funds through a bank channel. Especially for Long-term holdings of Bitcoin (BTC), Ethereum (ETH) OSL provides a more professional trading environment for investors who trade large amounts through OTC.
Trading Platform Option 3: Victory Securities
If you're looking to seamlessly switch between traditional finance and the cryptocurrency market and Pursuing low-cost transactionsIf so, then Victory Securities is an option worth considering. As the first broker in Hong Kong to combine Stock & Cryptocurrency Trading As a licensed brokerage firm, Victory Securities not only offers 0% trading fees, but also allows users to easily trade digital assets such as Bitcoin (BTC) and Ethereum (ETH) through VictoryX VictoryX APP.
Victory Securities holds licenses 1, 4 and 9 from the Hong Kong Securities and Futures Commission (SFC) to ensure that all trading activities are in compliance with Hong Kong regulations, allowing investors to invest safely in a regulated environment.
With a fixed fee of 0.2%, clear and transparent pricing structure, and a minimum trade size of HKD 7, Victory Securities has the lowest entry threshold among the four licensed platforms. For new investors who wish to test the waters with small amounts and build up their positions gradually, Victory Securities is the easiest place to start.
Apart from transaction fees, the minimum investment threshold is also an important factor of concern to investors.The minimum investment threshold for Victory Securities is only 1,000,000 dollars. 7 Hong Kong dollarsCompared with other platforms, which often require a minimum buy-in of several hundred Hong Kong dollars, it is easier for novice or small investors to enter the market. In addition, the platform supportsStock & Currency TradingThis allows users to manage both traditional stocks and cryptocurrency assets in the same account, avoiding the inconvenience of switching back and forth between different platforms.
Extended Reading:2026 Recommendation｜What is Victory Securities? Security, Deposit & Withdrawal, Features
Trading Platform Option 4: HashKey Exchange
HashKey Exchange, owned and operated by HashKey Holdings, was listed on the Main Board of the Hong Kong Stock Exchange on December 17, 2025 (Stock Code: 3887.HK), becoming the first licensed cryptocurrency exchange in Hong Kong to be publicly listed on the Hong Kong Stock Exchange with an IPO fundraising of approximately HK$1.6 billion.HashKey Exchange holds an SFC VATP license (Type I and Type VII regulated activities).
- Trading Handling Fee: Standard maker / taker 0.12% each; VIP tier as low as 0% / 0.03%
- Supported currencies: over 30 major cryptocurrencies
- Deposit Fee: Free (FPS / eDDA)
- Withdrawal Fee: HKD 5/stroke for HKD withdrawal; USD 10/stroke for USD withdrawal.
- License Type: SFC VATP Type 1 + Type 7
- Listed Company: HashKey Holdings (HKEx: 3887.HK)
HashKey Exchange is suitable for users who have some investment experience and wish to trade in multiple currencies under a fully regulated framework, as well as professional investors who require institutional-level services (OTC, large-volume trading, API access). For day-to-day small trades, Victory Securities or FTNB are more user-friendly and have a simpler and more straightforward fee structure.
Comparison of Transaction Charges, Minimum Investment Threshold (as of May 2026)
Comparison of Handling Charges for Deposit and Withdrawal (as at May 2026)
Note: The above table is for HKD Fiat currency withdrawals and deposits only. Crypto Withdrawal is subject to the network Gas Fee of each currency, which is separate from the HKD withdrawal fee.
The Best Choice for Frequent Traders? FTSE Zero Commission Entry Explained
For investors who trade more frequently, FTNB's 0% commission structure offers a clear advantage. Based on a monthly transaction amount of HKD 50,000, Victory Securities pays HKD 100 for the 0.2% rate and HashKey pays HKD 60 for the standard rate (0.12%), whereas FTNB's spread-based fees usually result in lower actual transaction costs in mainstream currencies.
Why is OSL the best choice for long-term asset security?
When you're considering holding Bitcoin or Ether for the long term as part of your asset allocation, trading fees are no longer the most critical consideration. The most important thing is the trading platform itself.Safety and Regulatory ComplianceThe SFC has not issued any licenses for cryptocurrency exchanges in Hong Kong. There are currently only two SFC-licensed cryptocurrency exchanges in Hong Kong.OSL and HashKey Exchange are the first of their kind in Hong Kong.(Earliest entry)Licensed exchanges have the longest history of regulation, the strongest backgrounds, and are part of the Hong Kong-listed BC Technologies Group (HKG.0863), whose financials are audited annually by the Big Four accounting firms for high transparency.
Note: Cryptocurrency exchanges are not the same concept as licensed securities dealers.stock exchangeIt is the main platform for providing cryptocurrency spot trading, holding licenses #1 (for securities trading) and #7 (for providing automated trading services), which allows users to buy and sell cryptocurrencies directly. Brokerage firms (such as Victory Securities) are licensed brokerage firms that work with exchanges to provide compliant cryptocurrency trading services to their clients, but do not operate exchanges themselves.
In contrast, while VSCL is also regulated, its virtual asset business has been in the market for a relatively short period of time and relies heavily on partnerships with other exchanges to execute trades, whereas OSL is licensed to operate on its own, and the security of the exchange's own operations is more assured.
If your focus isLong-term cryptocurrency holdings，Ensure that the exchange stabilizes and does not runThen OSL will be your best choice.
Extended Reading:
2026 OSL User Referral Code Tutorial
Getting to know OSL: What is it? Security, Features
2026 Hong Kong OTC Trading Compliance Methods
MEXC Global Exchange In-Depth Review
Hyperliquid perpetual contract DEX analysis
Hot and Cold Wallet Principles: Self-Custody vs Exchange Custody
Hong Kong Cryptocurrency Trading Platform FAQ
What is the minimum amount of capital required to buy cryptocurrency in Hong Kong?
The minimum transaction threshold is HKD 7 for Victory Securities, HKD 80 for FTNB, and HKD 10,000 for both OSL and HashKey. We recommend that newbies start with a small amount first, and then increase their investment gradually after familiarizing themselves with the market fluctuations.
What is the difference between an SFC licensed exchange and an unlicensed exchange in Hong Kong?
Licensed exchanges (OSL, HashKey, Victory Securities) are fully regulated by the SFC VATP regime and are required to segregate client assets, conduct regular audits and disclose financials. FTNB holds an SFC securities license and is in the process of applying for VATP. global exchanges such as Binance and Bybit are in the gray zone in Hong Kong, and their use by retail investors is not covered by consumer protection mechanisms.
How long does it take to withdraw funds to my Hong Kong bank account?
Withdrawal of funds from FTN, Victory Securities, OSL, HashKey is usually made on the same day, sometimes it takes T+1 to T+2 working days to reach the Hong Kong Dollar bank account.
Do I need to file a tax return for cryptocurrency trading in Hong Kong?
At present, there is no capital gains tax on capital gains derived from the trading of cryptocurrencies by individual retail traders in Hong Kong. However, if the transaction is of a frequent nature or has business characteristics, it may be subject to profits tax. It is advisable to consult a licensed tax advisor to assess your personal situation.
Which of the four platforms supports the most currencies?
As of May 2026, HashKey supports 30+ currencies, about 19 for FTB, 18 for OSL, and 12 for Victory Securities.
For cooler coins or DeFi related tokens, please refer to the "DeFi Token" page.MEXC Exchange 2026 In-depth ReviewThe article.
Disclaimer
The content of this article is for reference only, investors should exercise independent judgment, invest prudently and at their own risk, this article does not provide or attempt to persuade the audience to do trading or investment basis, the content is for sharing purposes only, and should not be regarded as investment advice.It does not represent the views and position of Monsterblockhk.All information and opinions are current as of the date of the judgment. In addition, if a judgment is rendered on aIn this siteAny content related to virtual asset trading platforms that have not yet obtained a license to operate virtual asset trading platforms in Hong Kong, including but not limited to text introductions, pictures, offers, events, etc., are only available to users outside the Hong Kong Special Administrative Region.
According to the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022, after June 1, 2023, all centralized virtual asset trading platforms operating in Hong Kong or actively promoting their services to Hong Kong investors will be licensed and regulated by the SFC, and any related unlicensed activities will be a criminal offence. For more information and details of the legislation, users may refer to the SFC website.