What are the best alternatives to Exness in Hong Kong?
Verdict
- Pepperstone is our first alternative to Exness for Hong Kong traders, with Capital.com second and XS third; our data confirms all three accept Hong Kong residents, which it doesn't for Exness.
- Pepperstone publishes what Exness doesn't: average spreads (EUR/USD 0.1 pips plus $3.50 per side on Razor) and per-platform commissions.
- For very high leverage, XS advertises up to 1:2000 dynamic leverage; Pepperstone's retail maximum in Hong Kong is 1:200.
- None of the three, nor Exness, shows an SFC licence.
Most traders look past Exness for one of three reasons: they want published pricing, a better-known regulator behind the group, or certainty that the broker takes Hong Kong clients. Each of our picks covers those differently, and one of them keeps the very high leverage Exness users are used to.
Pepperstone: the transparent replacement
Swap Exness' 'up to 50% lower costs' claim for a price list. Pepperstone publishes EUR/USD at a 0.1-pip average on Razor (commission $3.50 per side on MT5, $3.00 on cTrader) and 1.1 pips on Standard, gold at 0.12 and 0.19, and HK50 at 5 points. Exness users will recognise MT5, and Pepperstone adds MT4, cTrader, TradingView and its own app. The group is licensed by ASIC, the FCA, CySEC, BaFin and the DFSA, but your Hong Kong account sits with Pepperstone Markets Limited in the Bahamas (SIA-F217), so in practice you get Bahamas oversight, retail negative balance protection and no named compensation scheme. Retail leverage is up to 1:200; professional clients who self-certify can reach 1:500.
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Capital.com: guaranteed stops and simple funding
Capital.com fits traders who want firmer risk controls than Exness offers in our data: it publishes a guaranteed stop-loss and retail negative balance protection, and withdrawals are typically handled within 24 hours. The first deposit is 20 USD, EUR or GBP. It runs MT4, MT5, TradingView and its own apps. Its licences cover the UK, Cyprus, Australia, the Bahamas and the UAE, with no SFC entity.
XS: for those who want Exness-style leverage
XS advertises dynamic leverage of up to 1:2000, with a margin call at 40% and stop-out at 20%; its page doesn't say which entity applies these terms. Its Elite account averages 0.1 pips on EUR/USD with a $6 round-turn commission and a $500 minimum. Note its withdrawal terms: Neteller is instant, but cards take 7 to 10 working days, and XS reserves the right to charge up to 3% where there has been no trading activity.
Exness and the alternatives at a glance
| Pepperstone | Capital.com | XS | Exness | |
|---|---|---|---|---|
| EUR/USD | 0.1 avg + $3.50/side | Live only | 0.1 avg + $6 RT (Elite) | Not published |
| Max retail leverage | 1:200 (FX, gold, indices) | Depends on entity | Up to 1:2000 dynamic | Not in our data |
| Platforms | MT4, MT5, cTrader, TradingView, app | MT4, MT5, TradingView, apps | MT4, MT5, XS app | MT5, Exness Terminal, app |
| Hong Kong (our data) | Accepted | Accepted | Accepted | Not confirmed |
Sources
Broker pages behind each figure.
Which Exness alternative has the highest leverage?
XS, which advertises up to 1:2000 dynamic leverage. Pepperstone's retail limit for Hong Kong clients is 1:200.
Do any of these alternatives offer swap-free accounts to Hong Kong residents?
Pepperstone doesn't; Hong Kong isn't among its 23 swap-free countries. Capital.com's swap-free list names Middle Eastern and North African countries, not Hong Kong. XS's list of 19 countries isn't fully in our data.
Does Exness accept Hong Kong clients?
Our data doesn't confirm it. Its regulation page lists no SFC licence.
Higher leverage means faster losses as well as gains. CFDs are complex and high risk, and most retail accounts lose money. Make sure you understand the product before trading. Not investment advice.