Which forex brokers in Hong Kong offer the highest leverage?
Verdict
- Pepperstone is our overall pick for leveraged forex from Hong Kong, but it is not the highest: retail clients get up to 1:200 on FX, and Pro clients up to 1:500.
- XS publishes the highest figure among brokers accepting Hong Kong residents, up to 1:2000 with dynamic leverage, without naming the entity it applies to. Capital.com's Bahamas company lists 200:1 on FX.
- None of the three holds an SFC licence in our data; Pepperstone serves Hong Kong through Pepperstone Markets Limited, regulated by the Securities Commission of The Bahamas (SIA-F217).
- Higher leverage lowers the margin per trade but not the risk per pip; Pepperstone's retail clients also keep negative balance protection.
If you only want the biggest number, XS publishes it. If you want high leverage from a broker that names the entity, the cap and the protections, Pepperstone is our pick. Below: the published limits, what they mean in margin, and how Pepperstone's Pro tier works.
Highest published: XS. Our pick: Pepperstone
Pepperstone's international entity, which serves Hong Kong, allows retail clients up to 1:200 on FX, gold and major indices, and Pro clients up to 1:500. Every figure is tied to a named company and published in a table alongside the other asset classes. XS's 1:2000 sits on a standard-account page that doesn't say which XS company applies it. We prefer a clear, slightly lower cap from a named entity.
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Published FX leverage for Hong Kong-accepting brokers
Pepperstone's own Pro page also mentions 'up to 1:1000 on gold and forex' in a headline, which contradicts its table and costs page (1:500). We use the 1:500 figure.
| Broker | Retail | Professional | Entity named |
|---|---|---|---|
| Pepperstone | 1:200 | 1:500 | Pepperstone Markets Ltd (SCB, Bahamas) |
| Capital.com | 200:1 | Not published in our data | Capital Com Online Investments Ltd (SCB, Bahamas) |
| XS | Up to 1:2000 dynamic | Not published separately | Not specified on the page |
What the ratios mean in margin
On a USD-based pair, one standard lot is $100,000 of exposure. The margin the broker holds is that amount divided by the leverage:
- 1:200 (Pepperstone retail): $500 per lot.
- 1:500 (Pepperstone Pro): $200 per lot.
- 1:2000 (XS dynamic maximum): $50 per lot.
- Either way, a 10-pip move on that lot is $100. Leverage changes how much you must post, not how much a pip costs you.
Qualifying for Pepperstone Pro
Pepperstone's international Pro page asks you to self-certify two of three criteria: leveraged-trading experience, cash and investments over USD 500,000, and professional experience in financial services. Pro status changes protections too:
- Retail clients are not liable for negative equity; for Pro clients, negative balance protection is discretionary and one-time, up to USD 100,000.
- Pro leverage also rises on BTC and ETH, to 1:500 from 1:20 for retail.
- Metals other than gold move from 1:10 to 1:50.
The licensing picture
Pepperstone has no SFC licence. Capital.com's and XS's published regulator lists show none either. That means the leverage on offer is set by offshore rules, not by a Hong Kong regulator, and you should read each client agreement before choosing a ratio.
Sources
Figures as published by each broker or regulator on its own site.
What is Pepperstone's maximum leverage in Hong Kong?
Up to 1:200 on FX for retail clients and 1:500 for Pro clients at Pepperstone Markets Limited, the Bahamas entity that serves Hong Kong.
Is 1:2000 leverage safe?
It lowers the margin per lot to $50 but leaves the pip value unchanged, so a small balance can be wiped out by a modest move. Use far less than the maximum.
Does Pepperstone protect Pro clients from negative balances?
Only on a discretionary, one-time basis up to USD 100,000. Retail clients are not liable for negative equity.
Trading CFDs on margin is high risk: leverage can wipe out a deposit quickly, and these products are not suitable for everyone. Nothing on this page is investment advice. Fees, spreads and leverage change, so confirm them on the broker's own site before trading.