What is a cryptocurrency exchange?
A cryptocurrency exchange is a platform that provides spot trading of cryptocurrencies. In Hong Kong, they must hold Securities and Futures Commission (SFC) Type 1 (Securities Dealing) and Type 7 (Provision of Automated Trading Services) licenses and comply with the requirements of the Virtual Asset Trading Platform (VATP) regime, including the segregated custody of client assets, the separation of hot and cold wallets, and regular audits.
It is important to note that “exchanges” and “licensed brokerages” are two distinct concepts: exchanges (such as OSL and HashKey Exchange) operate their own trading systems and directly match user trades; licensed brokerages (such as Victory Securities and Futu) provide compliant cryptocurrency trading services to clients through their own or partner licensed platforms. From the user’s perspective, both are regulated by the SFC; the main differences lie in their fee structures and the level of product integration.
Currently, there are four licensed options commonly used by retail investors in Hong Kong:Futuhui Niuniu, OSL, Victory Securities, and HashKey Exchange. Let’s start with the conclusion: For most beginners in Hong Kong, we highly recommend Futu—an app that lets you manage Hong Kong stocks, U.S. stocks, and cryptocurrencies all in one place, with convenient deposits and withdrawals, and a new customer bonus when you open an account using an invitation code. Below, we’ll compare the four platforms item by item in terms of fees, minimum investment thresholds, deposit and withdrawal processes, and regulatory status, 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, retail investors can legally buy and sell Bitcoin and Ethereum through two main channels:
- Buy Cryptocurrency Directly: Buy spot assets such as BTC and ETH on a licensed platform, then withdraw them to your own wallet—this offers the greatest flexibility.
- Buying Cryptocurrency ETFs: Buying spot Bitcoin or Ethereum ETFs on the Hong Kong stock market is suitable for investors who wish to remain within the traditional securities framework.
Both methods have their advantages: Holding cryptocurrency directly allows you to participate in the on-chain world (such as transferring funds to DeFi or derivatives platforms), while ETFs offer the convenience of trading just like stocks. The benefit of Futu is that both approaches are available—you can use the same account to buy cryptocurrency ETFs as well as trade spot cryptocurrency directly.
6 Key Criteria for Choosing a Hong Kong Cryptocurrency Exchange
There are countless cryptocurrency trading platforms around the world—which ones are suitable for beginners in Hong Kong? To determine whether a platform is right for you, consider the following six criteria:
- Secure and reliable trading system
- Transaction Fee Levels
- Are the trading features comprehensive?
- HKD/USD Deposit and Withdrawal Options
- User Interface Suitable for Hong Kong Users
- License Compliance and Regulatory Protection
There aren't many platforms that truly meet all the criteria. Among the four major licensed options in Hong Kong,Futuhui and OSL are the two platforms retail investors should prioritize: Futu is known for its 0% commission structure, free HKD deposits and withdrawals, and tight integration with stock accounts, making it the top choice for beginners; OSL, on the other hand, is one of the earliest licensed exchanges in Hong Kong and is renowned for its institutional-grade asset segregation and track record of compliance, making it a good supplementary option for long-term investors.
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Platform Option 1: Futu Niuniu (Best Choice for Beginners)
Futu Niuniu (Futu) is one of the most well-known investment platforms among retail investors in Hong Kong and has expanded its services to include cryptocurrency trading in recent years. Futu Securities holds SFC Type 1 (Securities Dealing), Type 4 (Advice on Securities), and Type 9 (Asset Management) licenses; The cryptocurrency business operates under an SFC VATP license held by its wholly-owned subsidiary, PantherTrade, Clients’ crypto assets are protected by a regulatory framework equivalent to that of OSL and HashKey, including segregated custody, separation of hot and cold wallets, and regular audits, creating a dual compliance structure combining the securities license with the VATP license.
FTSE Key Features:
- Transaction Fee: 0.01 TP3T commission, calculated based on the bid-ask spread (the actual trading cost for major cryptocurrencies is generally around 0.11 TP3T–0.51 TP3T)
- Minimum Single Transaction: HKD 80
- Supported Currencies: Approximately 19, including major cryptocurrencies such as BTC, ETH, SOL, and others
- Deposits and Withdrawals: Free deposits and withdrawals in Hong Kong dollars via FPS or bank transfer; supports on-chain deposits and withdrawals for BTC and ETH
- Core Strengths: All-in-one management of Hong Kong stocks, U.S. stocks, and crypto assets; the interface is user-friendly for Hong Kong users
Target Audience: Beginners new to cryptocurrency, investors who already manage stock portfolios on Futu, and users who want to buy stocks, buy cryptocurrency, and deposit/withdraw funds all on the same platform. Use our referral code MBHKFT Open an account to receive Futu’s new customer sign-up bonus.
Platform Option 2: OSL
OSL is one of the first virtual asset exchanges in Hong Kong to be licensed by the SFC; it obtained Type 1 and Type 7 licenses as early as 2020 and has the longest regulatory history among the four. OSL’s parent company is BC Technology Group (0863.HK), a Hong Kong-listed company. Its financial statements are regularly audited by one of the Big Four accounting firms, ensuring a high level of transparency and a relatively low risk of the platform “running away.”
OSL employs bank-grade security standards, including the separation of hot and cold wallets and two-factor authentication (2FA). Transaction fees are approximately 0.31 TP3T, which is higher than those at Futu and Victory Securities. However, deposits and withdrawals in Hong Kong dollars via FPS or bank transfer are fee-free. Combined with institutional-grade custody and OTC services for large-volume transactions, OSL remains a solid choice for investors who prioritize asset security and plan to hold BTC and ETH for the long term.
For more information on OSL’s background, security, and account opening process, please refer to our separate overview:What Is OSL? Security, Deposits and Withdrawals, and Key Features。
Platform Option 3: Victory Securities
Victory Securities is one of the first licensed brokerage firms in Hong Kong to offer integrated "stocks + cryptocurrency" trading. It holds SFC Type 1, 4, and 9 licenses, and users can buy and sell assets such as BTC and ETH through the VictoryX app.
Victory Securities, based on 0.21 TP3T Fixed RateFee structure (no minimum commission) is transparent; a platform fee of 0.021 TP3T per order is charged (minimum USD 2, maximum USD 100), which should be factored into the cost for small-value transactions. The minimum transaction amount is just HKD 7, making it the lowest nominal entry barrier among the four major platforms; it supports managing both stocks and cryptocurrencies within the same account.
For detailed information on the account opening and deposit/withdrawal processes at Victory Securities, please refer to:What Is Victory Securities? Security, Deposits and Withdrawals, and Key Features。
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 in December 2025 (Stock Code: 3887.HK) and is Hong Kong’s first publicly listed licensed cryptocurrency exchange, and holds VATP status under the SFC’s Type 1 and Type 7 licenses.
- Transaction Fee: Standard maker/taker rates are 0.12% each; VIP tier rates can be as low as 0.0%/0.03%
- Supported Currencies: Approximately 30 major cryptocurrencies—the most among the four major platforms
- Deposit Fees: Free (FPS/eDDA)
- Withdrawal Fees: HKD 5 per transaction for Hong Kong dollar withdrawals; USD 10 per transaction for U.S. dollar withdrawals
HashKey is suitable for investors who already have some experience and need multi-currency spot trading or institutional-grade services (OTC, large-volume trading, API integration). If you’re just making small, everyday trades, Futu offers a more straightforward user experience and a simpler fee structure.
Comparison of Fees and Minimum Requirements for the Four Major Platforms
Comparison of Trading Fees and Minimum Investment Thresholds (Updated September 2026)
| Platform | Transaction Fee | Minimum Single Transaction | Supported Currencies |
|---|---|---|---|
| FTSE BULL | 0% Commission (calculated based on the spread; actual rate is approximately 0.1%–0.5%) | HKD 80 | About 19 varieties |
| OSL | Approx. 0.31 TP3T | Starting at HKD 1 (Retail account assets must total at least HKD 10,000) | About 18 varieties |
| Victory Securities | 0.2% + 0.02% platform fee (minimum platform fee: USD 2) | HKD 7 | About 12 types |
| HashKey Exchange | 0.121 TP3T (VIP as low as 0.1 TP3T / 0.031 TP3T) | Minimum deposit to open an account: HKD 10,000 | About 30 varieties |
Comparison of Deposit and Withdrawal Fees (Updated September 2026)
| Platform | HKD Deposits | Withdrawal in Hong Kong Dollars |
|---|---|---|
| FTSE BULL | Free (FPS / Bank Transfer) | Free |
| OSL | Free (FPS / Bank Transfer) | Free (USD 20 per transaction for withdrawals via wire transfer in U.S. dollars) |
| Victory Securities | Free | Free |
| HashKey Exchange | Free (FPS/eDDA) | HKD 5 per item (USD 10 per item) |
Note: The table above shows only deposits and withdrawals in Hong Kong dollars. On-chain cryptocurrency withdrawals are subject to network fees specific to each cryptocurrency and are billed separately from fiat withdrawal fees.
Our Recommendation: Most beginners in Hong Kong choose Futu
After comparing the pricing and features, the conclusion is clear:For most newcomers to Hong Kong, we highly recommend Futu., for three reasons:
- One App to Manage Both Stocks and Cryptocurrency: Manage Hong Kong stocks, U.S. stocks, and crypto assets all in one account—no need to transfer funds between multiple platforms, and there’s virtually no learning curve for investors already using Futu.
- Convenient deposits and withdrawals: Free deposits and withdrawals in Hong Kong dollars via FPS; after purchasing cryptocurrencies, you can also withdraw BTC and ETH to your own wallet. If you later want to further engage with the on-chain world (such as exchanging USDC and transferring it to Hyperliquid), there are options available.
- Invitation Code Discount: Via invitation code MBHKFT Open an account to receive Futu's new customer bonus—it's a better deal than opening an account directly.
Each platform has its own niche: OSL has the longest track record of regulation and is best suited for long-term holders who prioritize institutional-grade custody; Victory Securities offers the lowest nominal entry barrier; and HashKey supports the widest variety of cryptocurrencies, making it ideal for advanced users. However, in terms of overall experience and cost, Futu is the most hassle-free option for beginners.
For investors who trade frequently, Futu’s 0% commission structure also offers advantages: Assuming monthly trades of HKD 50,000, Victory Securities charges HKD 100 under its 0.2% rate (plus a platform fee), HashKey’s standard rate costs HKD 60, while Futu charges based on the spread, the actual cost for major cryptocurrencies is generally no higher than this level.
Hong Kong Cryptocurrency Trading Platform FAQ
What is the minimum amount of capital required to buy cryptocurrency in Hong Kong?
Victory Securities has a minimum single-trade amount of HKD 7, while Futu has a minimum of HKD 80. Retail accounts with OSL and HashKey must meet an asset or deposit threshold of HKD 10,000. We recommend that beginners start with small amounts to get a feel for market volatility before gradually increasing their investments.
What is the difference between SFC-licensed platforms in Hong Kong and unlicensed exchanges?
Licensed platforms (Futuhui/PantherTrade, OSL, HashKey, Victory Securities) are regulated by the SFC and are required to segregate client assets, undergo regular audits, and disclose their financial status. Global exchanges such as Binance and Bybit are not licensed in Hong Kong; retail investors using these platforms are not covered by Hong Kong’s investor protection mechanisms, making it difficult to recover losses in the event of an incident.
How long does it take to withdraw funds to my Hong Kong bank account?
Withdrawals in Hong Kong dollars from Futu, Victory Securities, OSL, and HashKey are typically processed as quickly as the same day; in some cases, they may take T+1 to T+2 business days.
Are there taxes on cryptocurrency trading in Hong Kong?
There is currently no capital gains tax on capital gains from cryptocurrency trading by individual investors in Hong Kong. However, if trading is frequent or conducted on a business basis, it may be subject to reporting under the Profits Tax. It is recommended that you consult a licensed tax advisor to assess your individual circumstances.
Which of the four major platforms supports the most cryptocurrencies?
As of September 2026, HashKey supports approximately 30 cryptocurrencies, Futu supports approximately 19, OSL supports approximately 18, and Victory Securities supports approximately 12. If you wish to trade cryptocurrencies not listed on major platforms, you can first purchase BTC or ETH on Futu, then withdraw them to your own wallet to participate in on-chain transactions. For details, seeFidelity Cryptocurrency Teaching。
Next Step
Once you've opened your Futu account, follow our guide to complete your first deposit and withdrawal and make your first cryptocurrency purchase:2026 Futu Niuniu Account Opening Guide | Complete Process for Opening an Account, Depositing and Withdrawing Funds, and Buying Cryptocurrency。
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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.