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Hong Kong tournament flow is dominated by SFC-licensed brokers. FUTU runs monthly US Stock Paper Trading Master Challenges and the annual Investment Expo (March, ~12K attendees). Tiger Brokers HK runs parallel paper-trading programs. SFC-licensed VATPs (HashKey, OSL, BC Technology, Crypto.com HK) run periodic crypto trading events.
SFC VATP licensing regime (June 2023). 12 licensed VATPs as of Feb 2026 including HashKey, OSL.
Crypto trading is regulated under the Hong Kong Securities and Futures Commission (SFC) Virtual Asset Trading Platform (VATP) licensing regime, formally launched in June 2023 to enable licensed retail trading. As of February 2026, there are 12 SFC-licensed VATPs including OSL Digital Securities and HashKey Exchange. The SFC published circulars in November 2025 expanding the products / services SFC-licensed VATPs can offer and enabling integration of order books with global affiliate VATPs for shared liquidity. Securities trading is supervised by SFC under Type 1-9 license categories. Tournament prize income is reportable as ordinary income under Hong Kong's territorial-source-of-income tax framework.
Hong Kong's competitive-trading scene is split between FUTU (the Tencent-affiliated brokerage) running the largest broker-led tournament cadence — the monthly US Stock Paper Trading Master Challenges and the annual Investment Expo with ~12K attendees — and SFC-licensed VATPs running smaller crypto-focused events. The Hong Kong SFC's progressive licensing regime, particularly the Nov 2025 expansion permitting global liquidity integration, positions HK as a regulatory-arbitrage destination for crypto exchanges that cannot operate in mainland China or other restrictive jurisdictions. Tiger Brokers HK and moomoo HK provide significant paper-trading competition flow.
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Mainland-Chinese crypto exchanges (HTX / Huobi etc.) operate from HK in some cases but face complex regulatory boundaries. Some offshore crypto platforms (Bybit, OKX international) operate in HK but only via SFC-licensed local entities; the offshore versions are restricted. Bybit specifically applied for HK licensing with mixed history. Always verify current status of each platform on the SFC public list. Offshore prop firms (FTMO, FundedNext, Apex Trader Funding) accept HK residents per their public terms.
As of February 2026, there are 12 SFC-licensed Virtual Asset Trading Platforms (VATPs) in Hong Kong, including HashKey Exchange and OSL Digital Securities. The SFC operates a public list of licensed VATPs which is updated as new licenses are granted or existing ones are modified.
Hong Kong officially launched the Virtual Asset Trading Platform licensing regime in June 2023, allowing licensed exchanges to offer retail trading services. November 2025 SFC circulars expanded what licensed VATPs can offer (additional product categories) and enabled order-book integration with global affiliate VATPs for shared liquidity — significant for cross-border tournament events.
Offshore exchanges (Bybit, OKX international, Binance.com) generally need to operate via SFC-licensed local entities to legally serve Hong Kong residents. Some have HK-specific subsidiaries; others are restricted. Always check the SFC public VATP list and the specific platform's HK eligibility before depositing.
Hong Kong operates a territorial-source tax system. Tournament prize income with a Hong Kong source is reportable as ordinary income; foreign-sourced prize income is generally not taxed for individuals (the territorial rule). Crypto-asset gains follow the same source-based framework. Consult a Hong Kong tax advisor for situations above modest thresholds.
Yes — FTMO, FundedNext, Apex Trader Funding and most major offshore prop firms accept Hong Kong residents per their public terms. Funding payouts to HK bank accounts use standard remittance flows. Verify each firm's current jurisdiction list before paying for an evaluation.
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