Although small in size, Hong Kong is the world's fourth most densely populated state. Besides, it has gained popularity for being one of the most significant financial centers in the world. In fact, the Hong Kong dollar is the thirteenth utmost traded currency. No wonder there is an increase in the number of people who are looking forward to Forex trading as a form of security investment. But the question is, is trading Forex legal in Hong Kong?
The answer is yes. The Securities and Future Commissions (SFC) is the body mandated to regulate Forex trade in Hong Kong. Since its inception in 1989, the Hong Kong Securities and Future Commissions is an independent body that is responsible for regulating securities and futures of the markets. Thus, anyone who is starting out their trading journey should be aware of the regulations. Also, any broker in the market should be registered with the SFC.
The SFC has three "Core Values":
"First, we are committed to "being professional" in all aspects of our roles in fulfilling our daily functions. Secondly, we take a "proactive" approach to delivering tangible results and seeking continuous improvement. Thirdly, we make sure that "people count" in an organisation by recognising staff as our greatest asset and a key driver for success."1
Should any participant in the markets of Hong Kong have complaints, the SFC has an online form that can be used to lodge a complaint. These complaints will be sent directy to the regulator.
Last updated: 03/04/2019 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.