Starting from June 2025, the Hong Kong and US stock investment markets have witnessed significant regulatory adjustments — as cross-border investment regulatory policies continue to tighten, the thresholds for mainland users to open Hong Kong and US stock trading accounts have been comprehensively upgraded. Several leading brokers such as uSMART Securities, Valuable Capital, Zinvest Global, and Futu Securities have explicitly suspended accepting regular account opening applications from mainland users. To open an account, additional overseas work certificates or residence proofs are required, and the approval rate has dropped significantly, leaving many investors in a "no way to open an account" predicament.

But there's no need to worry! There are still many compliant brokers in the market that offer Hong Kong and US stock account opening channels for mainland users, including Panda Securities, Zurich Securities, Tiger Brokers, Winbull Securities, Tianfeng Securities, Well Link Securities, Longbridge Securities, Doo Financial, and Fosun International Securities. These brokers not only hold licenses issued by authoritative institutions such as the Hong Kong Securities and Futures Commission but also launched multiple welcome benefits in August, including commission-free offers, cash rebates, and physical rewards, helping investors start their Hong Kong and US stock investment journey at a low cost. This article will detailedly interpret the background of the 2025 new regulations on Hong Kong and US stock account opening, list the core advantages and account opening requirements of the brokers that still accept account openings one by one, and simultaneously update the latest activity strategies for August 2025 to help you easily avoid account opening pitfalls and lock in preferential dividends.

I. Policy Background and Market Status: Why Are the New Account Opening Regulations Tightened

1. Policy Background: Industry Compliance Adjustments Under Regulatory Upgrade

In June 2025, mainland China's regulatory policies for cross-border investments underwent key adjustments, focusing on regulating mainland users' Hong Kong and US stock investment behaviors and preventing cross-border capital flow risks. This policy tightening is not targeted at a single broker but covers the entire Hong Kong and US stock trading industry, requiring brokers to strengthen user identity verification, standardize account opening procedures, and promote the industry towards a more compliant and transparent direction. This adjustment has directly led many brokers to significantly optimize their Hong Kong and US stock account opening policies for mainland users.

2. List of Brokers That Have Suspended Regular Account Opening for Mainland Users and the Reasons

According to the latest market dynamics, leading brokers that were previously favored by mainland investors, such as uSMART Securities, Valuable Capital, Zinvest Global, and Futu Securities, have explicitly suspended accepting regular account opening applications from mainland users. If users still need to open an account, they must meet strict conditions：

• Must provide overseas work certificates (such as employer's employment contract, employment certificate);
• Or provide overseas residence certificates (such as overseas property ownership certificate, utility bills of the past 3 months);
• The review period is extended to 7-15 working days, and the approval rate is less than 20%.

This change means that it has become significantly more difficult for ordinary mainland investors to open accounts through the above-mentioned brokers, and there is an urgent need to switch to brokers that still offer compliant Hong Kong and US stock account opening channels.

👉 Click to get sample package of overseas work or residence certificate documents

II. Recommended Brokers Still Accepting Account Opening for Mainland Users in 2025 (With Exclusive August Benefits)

Panda Securities

Regulatory Qualification: Licensed corporation by the Hong Kong Securities and Futures Commission, Central Number: BNC380 (holding Type 1 Securities Trading, Type 2 Futures Contract Trading, Type 9 Asset Management licenses)

Core Advantages at a Glance:

• Trading Products: Hong Kong stocks, US stocks, futures, new stock subscriptions
• Core Fees: US stocks: 0 commission, 0 platform fee; Hong Kong stocks: 0.2% for regular users (minimum HKD 68), 0.025% exclusively for channel users (minimum HKD 3, no platform fee)
• Featured Functions: Phillip Dark Pool Trading, FPS/eDDA fast deposit, idle funds automatically transferred to "Yu'e Tong" for appreciation
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Long-term low commission benefits for account opening through channels, free use of AI assistant "QizAI" with multilingual translation / intelligent order placement functions
• Deposit Gift: HKD 30 cashback for 0 principal / cash new stock subscription winning
• Trading Gift / New Stock Subscription Gift: Dark pool trading with 0.08% commission (minimum HKD 6, 0 platform fee); unified HKD 30 for margin new stock subscription orders placed before 11:00 AM; cancellation of additional fees for selling new stocks within the first 10 days
• Activity Period: August 1, 2025 - August 31, 2025
• Participation Method: Open an account through the official exclusive link to stack all benefits
• Panda Securities Official Exchange Group:

Zurich Securities

Regulatory Qualification: Licensed corporation by the Hong Kong Securities and Futures Commission, Central Number: BRE865 (authorized to conduct Type 1, 2, 4, 5, 9 regulated activities, supporting virtual asset trading)

Core Advantages at a Glance:

• Trading Products: Hong Kong stocks, US stocks, US stock options, futures, cryptocurrencies, money market funds, monthly stock purchases, warrants, bull-bear certificates
• Core Fees: US stocks: permanent commission-free; Hong Kong stocks: 0.03% commission (minimum HKD 3 per order); Hong Kong stock margin subscription fee: HKD 99 (0 interest)
• Featured Functions: Grid trading, intelligent orders, intelligent market monitoring, API interface opening
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: 12 free margin new stock subscription coupons (valued at HKD 1,188, 2 released monthly) + 100-day Hong Kong and US stock commission-free coupons + 0 commission for virtual asset trading
• Deposit Gift: Deposit HKD 10,000 or more to get HKD 400, HKD 50,000 or more to get HKD 800, HKD 150,000 or more to get HKD 1,200 cash coupons (unlocked upon meeting retention conditions); or choose 6% interest rate increase coupon (maximum HKD 1,200)
• Trading Gift / New Stock Subscription Gift: 0 handling fee for cash subscription of Hong Kong new stocks
• Activity Period: July 1, 2025 - August 25, 2025
• Participation Method: Open an account through the official channel, rewards can be collected at Zurich APP's activity center
• Zurich Securities Official Exchange Group:

Tiger Brokers

Regulatory Qualification: Licensed corporation by the Hong Kong Securities and Futures Commission (Central Number: BMU940), also regulated by the US SEC and Singapore MAS

Core Advantages at a Glance:

• Trading Products: US stocks, Hong Kong stocks, A-shares, Singapore stocks, Australian stocks, futures, options, funds
• Core Fees: US stocks: $0.005 per share commission (minimum $0.99), $0.005 per share platform fee (minimum $1); Hong Kong stocks: 0.03% commission (minimum HKD 7), 0.03% platform fee (minimum HKD 8)
• Featured Functions: Self-developed Tiger Trade platform (1.68 million transactions per second processing speed), margin account (maximum 4x leverage)
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Fund supermarket with 0 subscription fee, redemption fee, and platform fee
• Deposit Gift: New customers who meet deposit targets enjoy fee discounts (details subject to official real-time announcements)
• Trading Gift / New Stock Subscription Gift: One-click trading in global markets, supporting multi-currency settlement
• Activity Period: Throughout August 2025
• Participation Method: Open an account through the official channel of Tiger Brokers, activity rules are subject to the latest APP announcements
• Tiger Brokers Official Exchange Group:

Tianfeng Securities

Regulatory Qualification: Hong Kong licensed broker, strictly adhering to Hong Kong financial regulatory requirements

Core Advantages at a Glance:

• Trading Products: Hong Kong stocks, US stocks, new stock subscriptions
• Core Fees: Hong Kong stocks: permanent commission-free and platform fee-free; US stocks: $0.01 per share commission (minimum $1), $0.002 per share platform fee (minimum $0.99)
• Featured Functions: FPS fast deposit (instant arrival, zero fee), real-time quotes for Hong Kong and US stocks
• Account Opening Requirements: Mainland second-generation ID card, mainland bank debit card (no overseas proof required, Hong Kong bank card statements can be supplemented later) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Real-time quote access for Hong Kong and US stocks upon account opening
• Deposit Gift: Deposit HKD 10,000 or more to enjoy permanent 0 commission for Hong Kong stocks (platform fee HKD 10); deposit HKD 50,000 or more to additionally enjoy US stock platform fee exemption
• Trading Gift / New Stock Subscription Gift: 0 handling fee for cash subscription of Hong Kong new stocks, 50% off margin subscription handling fee (HKD 49.5 per transaction); trade 100 or more times within 90 days after deposit to enjoy permanent 0 commission and 0 platform fee for Hong Kong stocks
• Activity Period: August 1, 2025 - August 31, 2025
• Participation Method: Open an account through the official channel of Tianfeng Securities, rewards are automatically issued upon meeting the criteria
• Tianfeng Securities Official Exchange Group:

Longbridge Securities

Regulatory Qualification: Licensed corporation by the Hong Kong Securities and Futures Commission (Central Number: BPX066), regulated by Singapore MAS (License Number: CMS101211)

Core Advantages at a Glance:

• Trading Products: Hong Kong stocks, US stocks, Singapore stocks
• Core Fees: Lifetime commission-free for Hong Kong and US stocks, no platform fee
• Featured Functions: Assets independently custodied by DBS Bank, money market fund wealth management, free handling fee for cash new stock subscriptions
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Enjoy permanent commission-free for Hong Kong and US stocks upon meeting the deposit target of HKD 10,000
• Deposit Gift: Deposit HKD 20,000 to get HKD 200 stock cash card (given upon deposit) + HKD 200 (retained for 30 days) + HKD 200 (retained for 60 days) + 4% money market fund subscription eligibility
• Trading Gift / New Stock Subscription Gift: Transfer USD 10,000 worth of stocks to get HKD 500 cash card
• Activity Period: August 1, 2025 - August 30, 2025
• Participation Method: Open an account through the channel link and enter the invitation code 5B2QX5
• Longbridge Securities Official Exchange Group:

Fosun International Securities

Regulatory Qualification: Licensed corporation by the Hong Kong Securities and Futures Commission, Central Number: AAF432 (holding full licenses for Type 1, 2, 4, 6, and 9 activities)

Core Advantages at a Glance:

• Trading Products: Hong Kong stocks, US stocks, China Connect, funds, bonds, virtual assets, structured products
• Core Fees: US stocks: $0.0035 per share; Hong Kong stocks: 0.021% (minimum HKD 3)
• Featured Functions: eDDA fast deposit (0 handling fee, instant arrival), "Xingcaibao" cash management, "Xinggubao" intelligent new stock subscription
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Enjoy stock recommendation service from the research team with a "buy-side perspective"
• Deposit Gift: First deposit of HKD 10,000 or more to get HKD 500 Hong Kong and US stock commission-free coupons + HKD 200 new stock subscription coupons
• Trading Gift / New Stock Subscription Gift: Free use of intelligent trading tools, supporting multi-product portfolio investment
• Activity Period: August 1, 2025 - August 31, 2025
• Participation Method: Open an account through the official exclusive channel link, rewards are automatically issued upon meeting the criteria
• Fosun International Securities Official Exchange Group:

Winbull Securities

Regulatory Qualification: Regulated by relevant Hong Kong financial regulatory authorities, providing legal and compliant Hong Kong and US stock trading services

Core Advantages at a Glance:

• Trading Products: Mainstream trading products of Hong Kong stocks and US stocks
• Core Fees: Transparent regular commissions, supporting deduction with fee vouchers
• Featured Functions: Comprehensive transfer subsidy, multi-platform trading adaptation
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Enjoy new user benefits by registering and opening an account through the channel-exclusive link
• Deposit Gift: First deposit of HKD 10,000 or more to get 1 commission-free coupon each for Hong Kong and US stocks valid for 30 days
• Trading Gift / New Stock Subscription Gift: Accumulate 15 transactions to get 2 HKD 50 stock cash coupons + HKD 600 vouchers; accumulate 30 transactions to get another 2 HKD 50 cash coupons
• Activity Period: Throughout August 2025
• Participation Method: Open an account through the official channel, rewards will be issued after meeting the activity criteria according to the rules
• Winbull Securities Official Exchange Group:

Well Link Securities

Regulatory Qualification: Licensed company approved by the Hong Kong Securities and Futures Commission (under Well Link Financial Group), providing securities and futures trading services

Core Advantages at a Glance:

• Trading Products: Hong Kong stocks, US stocks, A-shares
• Core Fees: Permanent 0 platform fee for Hong Kong and US stocks; Hong Kong stock commission: 0.028% (minimum HKD 28), US stock: $0.0099 per share (minimum $1.99)
• Featured Functions: Free LV1 quotes for Hong Kong and US stocks, fee-free deposit via Macau Well Link Bank securities account
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Free A-share real-time quotes for the first month after account opening
• Deposit Gift: Deposit HKD 20,000 and trade 1 US stock to get 6-month Hong Kong and US LV1 quotes + 1 new stock subscription coupon + 1 share of Heytea / Pop Mart; deposit HKD 200,000 and trade 8 times to get 6-month Hong Kong and US LV1 quotes + 1-month Hong Kong stock LV2 quotes + 5 new stock subscription coupons + 3 share blind boxes
• Trading Gift / New Stock Subscription Gift: Limited-time 0 commission for Hong Kong stock cash trading (until June 30, 2027)
• Activity Period: Throughout August 2025
• Participation Method: Must open an account through the exclusive link; accounts opened without the link are not eligible for the activity
• Well Link Securities Official Exchange Group:

Doo Financial

Regulatory Qualification: Regulated by relevant financial regulatory authorities, providing compliant Hong Kong and US stock trading services

Core Advantages at a Glance:

• Trading Products: Mainstream market trading products of Hong Kong stocks and US stocks
• Core Fees: Hong Kong stock commission starting from 0.1% (negotiable, minimum HKD 18); US stock starting from $0.02 per share (negotiable, minimum $6)
• Featured Functions: Supporting phone trading, simple account opening process
• Account Opening Requirements: Mainland ID card, mainland bank card (no overseas proof required) 2025 August Exclusive Preferential Activities:
• Account Opening Gift: Enter the invitation code RKM01 to enjoy commission negotiation eligibility
• Deposit Gift: Deposit HKD 10,000 to enjoy 0 platform fee + limited commission-free for Hong Kong and US stocks; deposit HKD 80,000 to enjoy unlimited commission-free; deposit HKD 200,000 to get 100 ETF shares (valued at approximately HKD 888)
• Trading Gift / New Stock Subscription Gift: Commission-free benefits during the trading period cover all types of Hong Kong and US stocks
• Activity Period: Throughout August 2025
• Participation Method: Enter the channel-exclusive invitation code RKM01 when opening an account
• Doo Financial Official Exchange Group:

III. Important Risk Warnings and Compliance Guidelines

Cross-border investment involves multiple risks such as policy, market, and compliance risks. Investors must fully understand the following considerations before opening an account and conducting transactions:

1. Policy Risks: Regulatory Dynamics May Affect Account Opening Eligibility

The broker account opening policies, activity information, and threshold requirements provided in this article are all based on the current regulatory environment as of August 2025. Since cross-border investment regulatory policies are subject to dynamic adjustments, if mainland China or Hong Kong introduces new rules on cross-border capital flow management or broker compliance requirements in the future, it may lead to the tightening of existing account opening channels, adjustment of handling fees, or cancellation of activity benefits. It is recommended that investors closely monitor official regulatory announcements (such as those from the Hong Kong Securities and Futures Commission, the People's Bank of China, etc.) and adjust their investment plans in a timely manner.

2. Compliance Risks: Authentic Information is the Premise of Account Security

Although the brokers recommended in this article do not强制性 require overseas proof, all brokers must comply with international financial regulatory rules and conduct strict KYC (Know Your Customer) and AML (Anti-Money Laundering) reviews on users. Investors must ensure that the ID card, bank card, address proof, and other information provided during account opening are真实, complete, and valid. They must not use false materials or others' information to open an account. If the review fails due to inaccurate information, or if violations are discovered during subsequent regulatory inspections, investors may face risks such as account freezing, fund restrictions, or even legal liability.

3. Investment Risks: Market Volatility and Uncertainty of Returns

The Hong Kong and US stock markets differ significantly from the mainland A-share market in terms of trading rules, price fluctuation limits, exchange rate fluctuations, etc. They are also greatly affected by global macroeconomics, geopolitics, industry policies, and other factors, resulting in potentially more violent price fluctuations. The broker preferential activities mentioned in this article (such as commission-free, cash rebates, etc.) are only benefits to reduce transaction costs and do not constitute any recommendation of investment targets or profit commitments. Investors must make rational decisions based on their own risk tolerance, fully evaluate the value of investment targets, and avoid blind follow-up transactions.

4. Information Verification: Subject to Official Channels

The broker fee rates, activity details, account opening requirements, and other contents listed in this article are all collated information as of August 2025, which may change due to adjustments in broker policies. To ensure the accuracy of information, it is recommended that investors re-verify the following contents through the broker's official website, APP, or customer service channels before opening an account:

• The latest commission rates, platform fees, and hidden fees (such as withdrawal fees, transfer fees, etc.);
• Activity participation conditions, reward distribution rules, and validity periods;
• Required account opening materials, review cycles, and account usage restrictions. The contents of this article are for reference only and do not constitute any legal or investment advice.

Summary: Choose the Right Broker for Compliant Account Opening and Seize August Activity Benefits

August is a peak period for various broker activities, with benefits covering all scenarios such as commission-free trading for Hong Kong and US stocks, cash rebates, physical rewards, and new stock subscription fee reductions, spanning deposit, trading, and transfer processes. It is recommended that investors select a suitable platform based on their own needs (such as trading market preferences, capital scale, risk tolerance) and open an account through official exclusive channels to stack activity benefits.

It should be noted that Hong Kong and US stock investments are greatly affected by cross-border regulatory policies. Investors must closely monitor policy dynamics and give priority to brokers with complete compliance qualifications and guaranteed capital security. Before opening an account, be sure to carefully read the activity rules and risk disclosures, and rationally plan investment strategies. Seizing the August activity window can not only reduce transaction costs but also start an efficient and safe Hong Kong and US stock investment journey with the high-quality services of brokers.