Where's the best place to trade gold online in Hong Kong?
Verdict
- Pepperstone is our pick for trading gold online from Hong Kong: Razor gold averages 0.12 plus $3.50 commission per side, Standard averages 0.19 with no commission, and you can hold the account in HKD.
- Pepperstone has no Hong Kong licence: residents are served by Pepperstone Markets Limited, regulated by the Securities Commission of The Bahamas (SIA-F217), and the SFC register shows no Pepperstone entry.
- If an SFC-licensed firm matters more to you than cost, Saxo Capital Markets HK Limited appears on the SFC register (CE No. AVD061); we hold no Hong Kong gold pricing for it.
- Capital.com and XS also accept Hong Kong residents and rank second and third in our order.
For most Hong Kong gold traders, the best place online is a Pepperstone account: low published gold costs, a Hong Kong dollar base currency and five platforms. The catch is regulation, because the account sits offshore. This page sets out both sides so you can decide with the facts in front of you.
Our answer: a Pepperstone account
Gold is where Pepperstone's pricing is clearest. It publishes average XAU/USD spreads of 0.12 on Razor, plus $3.50 commission per side, and 0.19 on Standard with no commission. Retail clients can use up to 1:200 leverage on gold. The account can be held in HKD, among ten base currencies, so you are not converting every deposit into US dollars. Minimum funding is $10 or the local equivalent.
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What the SFC register shows
Hong Kong's Securities and Futures Commission keeps a public register of licensed corporations. A search for Pepperstone on 21 October 2026 returned no results, active or inactive, while the same search found Saxo Capital Markets HK Limited and Interactive Brokers Hong Kong Limited. Pepperstone's Hong Kong traffic is routed to its international site, run by the Bahamas entity. In practice:
- No compensation scheme is named for clients of Pepperstone Markets Limited.
- Its terms say retail clients are not liable for negative equity.
- Capital.com's and XS's published regulator lists include no SFC licence either.
- Pepperstone does not publish a Hong Kong-specific eligibility statement, so read the client agreement before you apply.
Gold costs at a glance
| Razor | Standard | |
|---|---|---|
| Average XAU/USD spread | 0.12 | 0.19 |
| Commission | $3.50 per side | None |
| Retail gold leverage | Up to 1:200 | Up to 1:200 |
| Platforms | App, MT4, MT5, cTrader, TradingView | App, MT4, MT5, cTrader |
| Gold without expiry | GOLD-PERP on the retail margin table | GOLD-PERP on the retail margin table |
Paying in and out from Hong Kong
Pepperstone's international funding page lists cards, Apple Pay, Google Pay, PayPal, Neteller and Skrill from $10, crypto from $18 and bank transfer with no minimum, all free. Withdrawals are free too: e-wallets and crypto within one business day, cards within two, bank transfer within seven. It does not list FPS or any other Hong Kong-specific method, so check how your bank transfer will be handled.
When Capital.com or XS fits better
Capital.com is our second choice; its help centre describes a guaranteed stop-loss, which Pepperstone does not offer, and a $20 minimum deposit. XS is third and suits MetaTrader users; its only published spread is EUR/USD from 0.1 pips on the Elite account ($6 round-turn commission, $500 minimum), and its account currencies are USD, EUR and JPY, with no HKD.
Sources
Figures as published by each broker or regulator on its own site.
Is Pepperstone licensed by the SFC?
No. The SFC register shows no Pepperstone entity. Hong Kong residents deal with Pepperstone Markets Limited, licensed in the Bahamas under SIA-F217.
Can I hold a Pepperstone account in Hong Kong dollars?
Yes. HKD is one of ten base currencies listed on Pepperstone's international funding page.
Which gold account is cheaper at Pepperstone?
Razor has the lower spread (0.12 average) but adds commission; Standard is 0.19 with none. At average spreads the two land close, so pick by platform and style.
CFDs are complex, leveraged products, and most retail traders who use them lose money, often fast. Make sure you understand how they work and can afford the loss. This is not investment advice; broker terms quoted here can change after publication.