Futu Securities and Tiger Securities further close the account opening channels for mainland Chinese residents.

Cross-border internet brokers Futu Securities and Tiger Securities have further closed the account opening channels for mainland Chinese residents. According to the latest regulatory requirements, the account opening conditions for Futu Securities have changed, and mainland Chinese clients now need to have proof of overseas permanent residency to open an account. Futu customer service emphasizes that the company is currently undergoing a system upgrade and at this stage only accepts customers with Hong Kong or Macau identity cards for account opening; after the system upgrade is completed, customers can use a mainland Chinese identity card plus proof of overseas permanent residency to open an account. Tiger Securities customer service also stated that, in response to the latest regulatory requirements, the company has adjusted its account opening policy for mainland Chinese residents and has stopped accepting account openings for mainland Chinese residents providing overseas work or living related documents since last week, only accepting applications from customers holding non-mainland Chinese identity documents.