The choices of Hong Kong and US stock investments among overseas brokers are becoming more and more extensive, and investors need to consider carefully when selecting a safe and secure platform. Futu Securities and Webull Securities, invested by Tencent and Xiaomi respectively, are among the top choices for many Hong Kong people to invest in US stocks. They are highly praised both in terms of platform usage experience and community discussions. This article will conduct an in-depth evaluation of Futu Securities and Webull Securities in Hong Kong to help investors make informed choices.

Analysis content includes:

○ Broker background

○ Trading markets and investment products

○ Commissions and fees

○ Deposit and withdrawal channels and fees

○ Supervision and security

Note: ★★★ represents a relatively advantageous position

Broker Background

1. Futu Securities (Hong Kong)

Futu Securities (Hong Kong) (Futu Securities International (Hong Kong)) is a subsidiary of Futu Holdings (Nasdaq: FUTU), a listed company on the NASDAQ in the United States. It is a licensed corporation regulated by the Securities and Futures Commission (SFC) of Hong Kong (Central No.: AZT137), holding license classes 1, 2, 3, 4, 5, 7, and 9.

Founded in 2012, Futu Securities provides investors with financial trading services in multiple countries through its investment platform Futu Niuniu. With just one account, investors can invest in US stocks, Hong Kong stocks, and Chinese A-shares. Since it has received a strategic investment from Tencent and its founder Li Hua is the 18th founding employee of Tencent, Futu Securities is also known as the "Tencent-related" Hong Kong and US stock Internet brokerage firm.

Futu Holdings and its subsidiaries hold a total of 43 financial licenses and qualifications in various mainstream financial markets around the world, covering multiple aspects such as US stocks, Hong Kong stocks, A-shares, funds, futures, and bonds. The cumulative number of users on its platforms has exceeded 14 million.

The following briefly summarizes the key information of Futu Securities (Hong Kong):

2. Webull Securities (Hong Kong)

Webull Securities was established in 2016. It is a securities trading platform under Formi Technology and is part of Xiaomi's financial ecosystem. It has more than 20 million users globally. Webull Securities entered the Hong Kong market in 2020 and is regulated by the Securities and Futures Commission (SFC) of Hong Kong (Central No.: BNG 700), holding a license of Class 1.

Webull Securities focuses on "Enjoying Technology, Enjoying Investment". It provides one-stop investment in US stocks, Hong Kong stocks, and Chinese A-shares. It also offers ultra-low trading discounts such as 0 commission for US stock trading, 0 platform fee, 0 commission for all types of Hong Kong stock trading, 0 membership fee, and 0 handling fee for cash new stock subscriptions, making it the first choice for many Hong Kong people to invest in Hong Kong and US stocks.

The following briefly summarizes the key information of Webull Securities (Hong Kong):

Next, we will compare Futu Securities (Hong Kong) and Webull Securities (Hong Kong) from six aspects: trading markets, supported investment products, deposit and withdrawal fees, commission fees, platform supervision and capital security, and account opening and deposit incentives.

Comparison of Trading Markets

Futu Securities (Hong Kong) and Webull Securities (Hong Kong) are similar in terms of tradable markets, both covering the United States, Hong Kong, and Shanghai and Shenzhen (Chinese A-share) markets.

Comparison of Investment Products

Diversified investment product options can help investors flexibly allocate their investment portfolios, control risks, and achieve the goal of maximizing returns.

The investment products supported by Futu Securities (Hong Kong) and Webull Securities (Hong Kong) are roughly the same, including stocks, ETFs, warrants, and funds. The difference is that Futu Securities (Hong Kong) supports options and futures trading, while Webull Securities (Hong Kong) does not support futures trading for now.

In terms of new stock subscriptions, Futu Securities (Hong Kong) supports new stock subscriptions for US stocks and Hong Kong stocks; Webull Securities (Hong Kong) has launched new stock subscriptions for Hong Kong stocks.

Particularly, Webull Securities (Hong Kong) supports odd-lot trading, that is, trading of less than one lot, providing more convenience for investors with smaller amounts of capital.

Comparison of Deposit and Withdrawal Fees

Both Futu Securities (Hong Kong) and Webull Securities (Hong Kong) have no minimum thresholds for deposit and withdrawal, and they do not charge deposit and withdrawal fees. However, the banks used and the intermediary banks may levy relevant fees. The specific fees shall be subject to the banks.

1. Futu Securities (Hong Kong)

Regarding deposit, Futu Securities (Hong Kong) has no minimum deposit threshold and supports deposits in Hong Kong dollars, US dollars, and offshore Renminbi.

If holding a Hong Kong bank card, you can use e-DDA quick deposit, bank-securities transfer, FPS Fast Payment System, online banking transfer, ATM or counter transfer, check and other methods for deposit, with no handling fee, but the bank may charge a fee.

* Note that users who open an account online in Hong Kong need to deposit no less than HK$10,000 for the first time.

Regarding withdrawal, Futu Securities (Hong Kong) has no minimum withdrawal threshold and supports withdrawal in Hong Kong dollars and US dollars.

The available withdrawal methods include transfer by Hong Kong bank check and bank-securities transfer, with no handling fee, but the bank may charge a fee. Users can also choose to withdraw to an overseas bank, supporting the withdrawal of US dollars and Hong Kong dollars, with a handling fee of HK$300 for each withdrawal (for Hong Kong dollars) or US$45 (for US dollars).

2. Webull Securities (Hong Kong)

In terms of depositing funds, Webull Securities (Hong Kong) has no minimum deposit threshold and supports deposits in Hong Kong dollars, US dollars, and Renminbi.

If you hold a Hong Kong bank card, you can use methods such as FPS (Fast Payment System), CHATS, ATM or counter services, and checks for depositing funds. There is no handling fee, but the bank may charge a fee, which will be directly deducted from the deposited amount.

In terms of withdrawing funds, Webull Securities (Hong Kong) also has no minimum withdrawal threshold and supports withdrawals in Hong Kong dollars, US dollars, and Renminbi.

The available withdrawal methods include local Hong Kong banks and telegraphic transfer to overseas bank accounts. When withdrawing to a local Hong Kong bank account, Webull does not charge a fee, but the bank may do so, and the fee will be directly deducted from the withdrawal amount.

For withdrawals via telegraphic transfer, Webull levies a handling fee of HK$50 for each withdrawal, and the bank's charge will also be deducted from the withdrawal amount.

In summary, in terms of depositing and withdrawing methods, Futu Securities (Hong Kong) supports e-DDA quick deposit, which is very convenient. Since Webull does not support e-DDA quick deposit, Futu Securities has a slight edge in this regard.

Comparison of Commission Fees

In terms of commission fee charging, the comparison result between the two brokerages is very straightforward. Webull Securities (Hong Kong) implements a system of zero commission and zero platform fee. There is no need to pay any fees for trading US stocks and US stock options; for Hong Kong stock trading, the commission is also waived, and the platform fee is as low as HK$10 per order.

Compared with other Hong Kong and US online securities brokers, the ultra-low trading fees of Webull Securities are more attractive.

The following has sorted out the commission fee structures for US stocks, Hong Kong stocks, Chinese A-shares, and US stock options of Futu Securities (Hong Kong) and Webull Securities (Hong Kong) for your reference.

Comparison of Safety

At any time, the safety of a brokerage is the primary consideration. The number of financial licenses held and the regulatory authorities of which countries the brokerage is supervised by will affect the credibility of the brokerage. After all, the safety of a brokerage without license protection is definitely questionable.

The following evaluates the safety of Futu Securities (Hong Kong) and Webull Securities (Hong Kong) from two aspects: regulatory authorities and asset custody. All information is mainly based on the information disclosed on the official websites of the brokerages.

1. Regulatory Authorities

Futu Securities (Hong Kong)

Futu Holdings and its subsidiaries hold a total of 43 financial licenses and qualifications in various mainstream financial markets around the world.

In terms of US regulation, Futu Holdings (US) is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The SEC registration number is 8-69739, and the FINRA Central Registration Depository number is CRD: 283078. It is also a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) in the United States.

SIPC provides a maximum protection amount of up to US$500,000 (including US$250,000 in cash) for users of Futu Securities' US stock accounts.

In terms of Hong Kong regulation, Futu Securities (Hong Kong) is a licensed corporation regulated by the Securities and Futures Commission (SFC) of Hong Kong (Central Number: AZT137), holding licenses for Type 1, 2, 3, 4, 5, 7, and 9 regulated activities. It strictly follows the Securities and Futures Ordinance to provide customers with safe and reliable securities trading services.

Webull Securities (Hong Kong)

Webull Financial LLC. is a licensed securities broker in the United States, registered with the US Securities and Exchange Commission (SEC), directly regulated by the Financial Industry Regulatory Authority (FINRA) in the United States. It is also a member company of the Securities Investor Protection Corporation (SIPC), the New York Stock Exchange (NYSE), the NASDAQ Stock Market (NASDAQ), and the EDGX Exchange under the Chicago Board Options Exchange (CBOE).

Webull Securities entered the Hong Kong market in 2020 and is regulated by the Securities and Futures Commission (SFC) of Hong Kong (Central Number: BNG 700), holding a license for Type 1 regulated activities.

At the same time, Webull Securities (Hong Kong) is also a member company of the Hong Kong Investor Compensation Fund (ICF), the Hong Kong Stock Exchange, and the Central Clearing and Settlement System. The Stock Exchange participant number is 2175, and the Central Clearing participant number is B02175.

2. Asset Custody

Before using any brokerage platform, users should not only understand whether the brokerage is legally regulated but also check whether the asset custody entrusted by the brokerage is trustworthy.

Generally, brokerages will entrust the funds and assets of investors to a third party to ensure safety.

Futu Securities (Hong Kong)

Futu Securities (Hong Kong) states that "Futu Securities strictly follows the regulations regarding client assets in the Securities and Futures Ordinance: A licensed corporation must deposit the funds and securities belonging to clients in a trust account and in the places specified by law respectively; without the client's authorization, it is prohibited to dispose of the securities and funds in the client's account."

Futu Securities also complies with the requirements of the SFC of Hong Kong for internal supervision and risk control, and separates the functions of positions such as business operation, trading settlement, and security monitoring, so as to ensure the safety of client assets.

The funds of investors are protected by the Hong Kong Investor Compensation Fund (ICF), and the compensation limit for securities and futures contracts is HK$500,000 per person.

Webull Securities (Hong Kong)

Webull Securities independently entrusts the custody of client funds to Citibank and China Merchants Bank Wing Lung Bank. The funds of investors are also protected by the Hong Kong Investor Compensation Fund (ICF), and the compensation limit for securities and futures contracts is HK$500,000 per person.

In comparison, Futu Securities holds more licenses and qualifications, and its safety index is slightly higher than that of Webull Securities.

Futu Securities (Hong Kong) vs Webull Securities (Hong Kong), How to Choose?

Compared with Webull Securities (Hong Kong), Futu Securities (Hong Kong) has more advantages in terms of the licenses and qualifications it holds, thus increasing its safety index. In terms of new share subscriptions, Futu Securities (Hong Kong) supports new share subscriptions for Hong Kong stocks and US stocks, while Webull Securities (Hong Kong) is currently limited to new share subscriptions for Hong Kong stocks. In terms of investment products, Futu Securities (Hong Kong) provides diversified services such as stocks, ETFs, warrants, funds, options, etc., and has also launched futures trading. In comparison, its products are more diversified.

Relatively speaking, the advantage of Webull Securities (Hong Kong) lies in its trading system of zero commission and zero platform fee, which makes the trading fees for US stocks and US stock options zero. For Hong Kong stock trading, the commission is also waived, and only a platform fee of HK$10 per order needs to be paid. These extremely low trading fees enable investors to save a large amount of trading costs.

In terms of investment products, although the investment products of Webull Securities are relatively fewer, investors can conduct flexible trading through its service of trading odd lots. Even if the trading volume is less than one lot, they can buy and sell shares one by one, thus reducing the investment threshold.

So, how should investors weigh the pros and cons when choosing a brokerage?

If you hope to participate in futures trading in addition to stock trading, or are interested in new share subscriptions for US stocks and Hong Kong stocks, then Futu Securities (Hong Kong) may be more suitable for you. And if you pay more attention to considerations regarding trading fees, then the zero-commission policy of Webull Securities (Hong Kong) may be more attractive, especially its extremely low platform fees for Hong Kong and US stocks.

Of course, you can also consider using both brokerages simultaneously. Use Webull Securities (Hong Kong) to trade US stocks and Hong Kong stocks, and at the same time, participate in US stock new share subscriptions and trade financial derivatives such as options and futures through Futu Securities (Hong Kong). The specific choice can be determined according to your personal investment needs.

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