With the acceleration of globalization, more and more investors are focusing on the Hong Kong and US stock markets. However, choosing a suitable online brokerage platform from numerous options is not easy. This article will conduct an in-depth comparative analysis of four popular Hong Kong/US stock brokers—Futu Securities, Tiger Brokers, Longbridge Securities, and Webull Securities—to help you make an informed choice.

The Hong Kong and US stock markets are favored by investors for their mature regulatory systems, diverse investment products, and high liquidity. For novice investors, choosing a reliable brokerage is crucial. Not only should transaction costs be considered, but also fund security, customer service quality, and platform stability.

• Tiger Brokers vs Futu: Focus on commissions or IPO subscriptions?
• Is Webull's fund security reliable?
• Are Longbridge's account opening requirements simpler?

I. Broker Introduction

1. Futu Securities

Futu Securities, founded in 2012 and headquartered in Hong Kong, is listed on NASDAQ (stock code: FUTU). As a leading internet brokerage, Futu Securities provides global investors with one-stop investment services. Futu holds Type 1 (Securities Trading), Type 2 (Futures Contract Trading), and Type 4 (Securities Advisory) licenses issued by the Hong Kong Securities and Futures Commission, and is also registered with the US Securities and Exchange Commission (SEC).

Its strong technical background enables it to provide an efficient and stable trading platform, favored by many investors. The Futu NiuNiu APP, with its simple and intuitive interface, rich market data, and real-time analysis tools, has become the preferred platform for many investors trading Hong Kong stocks, US stocks, and A-shares. Additionally, Futu offers various value-added services such as IPO subscriptions and margin trading to meet different investor needs.

Core Advantages

• Comprehensive Product Coverage:
  • Stocks: Global markets including HK/US/A-share Connect/Singapore stocks
  • Derivatives: Options, futures, cryptocurrencies
  • Wealth Management: Funds, treasury bonds, trust services
• Technical Strength:
  • Self-developed all-in-one platform "Futu NiuNiu"
  • Institutional-grade market data and intelligent research tools

Key Features

• HK IPO Leader: Underwrote 98% of Chinese companies listed in Hong Kong in 2023
• Corporate Services Ecosystem: ESOP equity incentives, one-stop IPO distribution solutions
• Fund Efficiency: eDDA HKD instant deposit, supports 10+ currency exchanges

Futu Securities Official Community

2. Tiger Brokers

Tiger Brokers, founded by Wall Street veterans, has focused on providing convenient investment services to global Chinese investors since its inception. Listed on NASDAQ (stock code: TIGR), Tiger Brokers has also obtained licenses from Singapore's Monetary Authority (MAS) and New Zealand's Financial Markets Authority (FMA).

Through its self-developed Tiger Trade APP, Tiger Brokers provides users with a powerful and easy-to-use trading platform. The platform supports trading in multiple markets including Hong Kong, US, and A-shares, while also covering various financial products such as options and ETFs. Tiger Brokers has won the favor of many users with its low commissions, high transparency, and quality customer service. Particularly in global market expansion, Tiger Brokers has significant advantages, helping investors easily achieve global asset allocation.

Core Advantages

• Inclusive Investing:
  • Fractional Share Trading: Invest in giants like Apple and Tesla from $1
  • Regular Investment Plans: Start from $2 for S&P 500 components
• Derivatives Expertise:
  • Option Strategies: 13 combination strategies saving 73% margin
  • Futures Coverage: Crude oil, gold, Bitcoin

Key Features

• AI Advisory: PortAI research analysis tool
• Global Community: Real-time trading strategy sharing platform
• Zero Commission: Fractional US stock trading commission-free

Tiger Brokers Official Community

3. Longbridge Securities

Longbridge Securities is a new-generation internet brokerage dedicated to connecting asset discovery, understanding, and trading through technological innovation. Founded in March 2019, the company has obtained multiple financial compliance licenses worldwide, including Hong Kong SFC Type 1, 2, 4, and 9 licenses and SEC registration in the US. Longbridge's core management consists of experienced financial industry professionals and technical experts with extensive global financial market experience.

Longbridge's trading platform supports multiple devices including mobile apps (iOS, Android), desktop (Windows, macOS, Linux), web trading, and Open API access, enabling seamless transitions between systems. Additionally, Longbridge has developed the "PortAI" application based on large language models, helping investors obtain research capabilities comparable to professional institutions.

Core Advantages

• Technology-Driven:
  • PortAI Research Engine: Financial report summaries, risk alerts
  • Simplified Experience: Online account opening for 18+, 5-minute process
• Cost Optimization:
  • No platform fees for HK stocks
  • Zero-fee cross-border deposits

Key Features

• Social Investing: Interactive community connecting analysts/institutions
• Smart IPO Prediction: Subscription success rate algorithm
• Family Office: Exclusive structure for high-net-worth clients

Longbridge Securities Official Community

4. Webull Securities

Webull Securities has rapidly emerged as a leader among new brokers with its low commissions and high transparency. Founded in 2016 and headquartered in the US, Webull has branches in multiple international markets. The company holds Hong Kong SFC Type 1 (Securities Trading), Type 2 (Futures Contract Trading), and Type 4 (Securities Advisory) licenses, and is registered with the US SEC.

Webull's flagship product—the Webull APP—has been well-received by investors for its simple interface design, comprehensive market data, and efficient trade execution. Webull supports trading in multiple markets including Hong Kong, US, and A-shares, while also offering services like margin trading and options. Additionally, Webull's fund security measures are robust, with client funds independently custodied at institutions like Citibank and CMB Wing Lung Bank, under strict regulatory supervision.

Core Advantages

• Derivatives Leader:
  • Comprehensive Futures: Gold/crude oil/Bitcoin/forex
  • Flexible Leverage: Bitcoin 100x leverage
• Ultimate Pricing:
  • US Stock Commissions: $0.0045/share (industry lowest)
  • Futures Contracts: From $1.99/contract

Key Features

• Fractional Trading: Support for US stock/ETF fractional shares
• Cross-Market Arbitrage: 24-hour forex futures trading
• Institutional Tools: Advanced order types, algorithmic trading API

II. In-Depth Comparison

1. Licenses & Fund Security

Futu Securities

• Over 100 global licenses covering 8 markets, including all HK SFC Type 1/2/3/4/5/7/9 licenses
• US assets protected by SIPC ($500k), HK assets covered by Investor Compensation Fund
• Key consideration: Non-HK residents require third-party verification

Tiger Brokers

• 22 licenses focused on US market, SEC/FINRA/SIPC triple protection
• SG accounts subject to 9% GST
• Key consideration: Complex margin rules for options combinations

Longbridge Securities

• HK SFC Type 1/2/4/9 + Singapore CMS licenses
• HK compensation fund capped at $15k, no SIPC coverage
• Key consideration: Limited disclosure for family office services

Webull Securities

• HK SFC Type 1/2/4 + US FINRA/SIPC
• Client funds custodied at Citibank
• Key consideration: Non-FATF region deposits rejected

2. Account Opening & Experience

According to current regulations, mainland users need to provide overseas employment or residence proof when using Hong Kong brokerage services.

Acceptable documents for overseas employment/residence proof:

See: Valid Document Examples

💳️ No HK Card Solutions

• Futu: Check deposit (mail HKD10k check to HK headquarters)
• Longbridge: Mainland UnionPay direct deposit
• Tiger/Webull: Require HK/SG bank cards

⌛️ Process Efficiency

• Fastest: Futu eDDA authorization (5 minutes)
• Simplest: Longbridge fully online process
• Strictest: Tiger requires employment verification

【Recommended】Futu Securities Account Opening 2025 Latest Policy｜Futu Moomoo Mainland User Compliant Account Opening Tutorial

【Recommended】Is Proof of Existing Holdings No Longer Required for Tiger Brokers Account Opening? Latest Policy Interpretation & Alternatives

【Recommended】Hong Kong Stocks 2025 New Rules: Ultimate Guide to Longbridge Securities Account Opening (Overseas Proof Required)

【Recommended】New Hong Kong Account Rules: $70K Threshold vs Overseas Proof – Last Chance to Open!​

3. Commissions & Hidden Costs

💵 Actual US Stock Trading Costs (500 shares @ $10)

• Webull: 0.0045×500×2= $4.5
• Tiger: 0.005×500×2= $5.0
• Futu: 0.0049×500+1×2 = $4.45

💰️ HK IPO Hidden Fees

• Futu: 1.0085% fee upon allocation
• Tiger: 6.8% annual margin rate
• Webull: Up to 8.6% annual financing cost

💳️ Currency Conversion Costs

• Tiger SG accounts: 9% GST on all fees
• Futu JPY trading: 0.15% exchange spread

4. Product Coverage

Options Capabilities

• Tiger: 13 combination strategies
• Futu: Basic options @ $0.65/contract
• Webull: Single-leg options only

Futures Depth

• Webull: 3,000+ contracts (including 100x Bitcoin leverage)
• Futu: 200+ mainstream contracts
• Tiger: 50+ standard contracts
• Longbridge: Not available

REITs Coverage

• Tiger: 10+ SGX REITs
• Others: ETFs only

5. Localized Services

• Tax Support

  • Futu: Tax filing guidance, W-8BEN support
  • Tiger: Dedicated tax team
  • Longbridge: Tax consultation services
  • Webull: Basic tax obligation guidance

• Customer Service

  • Futu: Multi-channel support, fast response
  • Tiger: 24/7 multilingual support
  • Longbridge: AI + human support
  • Webull: Phone/email support

• Language Support

  • Futu: Chinese, English
  • Tiger: Chinese, English
  • Longbridge: Chinese, English
  • Webull: Chinese, English

III. How to Choose?

HK IPO Investors: Futu

• Core Reason: 98% HK IPO coverage
• Practical Advantages:
  • Corporate ESOP services
  • Up to 97% margin for IPOs
• Best For: Corporate executives, hot IPO seasons

US Options Traders: Tiger

• Core Reason: 13 strategies saving 73% margin
• Practical Advantages:
  • $1 fractional shares
  • Margin alert system
• Best For: Earnings season volatility, long option positions

Futures Traders: Webull

• Core Reason: 3,000+ contracts
• Practical Advantages:
  • Crude oil futures @ $1.99/contract
  • API for algorithmic trading
• Best For: Geopolitical arbitrage, 24-hour trading

Quant Investors: Longbridge

• Core Reason: PortAI automated reports
• Practical Advantages:
  • Automated CRS filing
  • Analyst strategy tracking
• Best For: Cross-border allocation, quarterly rebalancing

Small Investors

• Tiger Fractionals: $1 S&P 500 stocks
• Futu Funds: Cash宝 T+0 zero fees
• Note: Webull $0.0045/share requires $1,000 min

IV. Key Considerations

• Document Accuracy: Complete and precise account opening documents
• Account Consistency: Match deposit/withdrawal account names
• Account Activity: Quarterly transactions to avoid dormancy
• Leverage Control: Safety margins for high-risk positions
• Tax Compliance: Timely filing of declarations

V. FAQ

Q1: How to avoid deposit failures?

1. Bank account name exactly matches brokerage account
2. Initial deposit ≥ minimum threshold
3. Avoid third-party transfers

Q2: Actual US stock trading costs?

💸 Cost Comparison (500 shares @ $10):

Q3: How to optimize dividend taxes?

📝 Key Actions:

• Submit W-8BEN form within 30 days (reduces tax from 30%→10%)
• HK brokers exempt capital gains tax
• SG accounts subject to 7% GST

Q4: What if device is lost?

🚨 Action Steps:

1. Contact customer service immediately
2. Deauthorize device via web version
3. Rebind with video verification

Q5: How to avoid dormant fees?

⏰ Tips:

• Quarterly minimum $1 transaction
• Maintain balance > $200
• Clear positions before closure

Q6: Best for HK IPOs?

🏆 Futu Advantages:

• 98% IPO coverage
• Exclusive gray market
• Up to 97% margin
• ⚠️ Cost Note: 1.0085% allocation fee

Q7: Best for options traders?

🎯 Tiger Features:

• 13 combination strategies
• 73% margin savings
• $1 fractional trading

Conclusion

Choosing the right broker is the first step to successful investing. We hope this article helps you understand the features of major brokers and find your ideal investment partner. For further questions, please contact customer service.