Best Brokers With CNY Accounts 2025
Dig into our top brokers offering CNY accounts, based on thorough testing, designed to reduce conversion fees and optimize the trading experience for traders in China.
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1Established in 2008, Exness is a respected broker known for offering over 40 account currencies, a wide choice of CFD instruments, and an intuitive web platform with features like currency converters and trading calculators.
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Trust Platform Assets Fees Accounts Research Education Mobile Support 3.5 Founded in 2001, easyMarkets is known as a reliable fixed spread broker. Over the years, it has improved its tools, such as adding the MetaTrader suite and TradingView, and enhanced its unique risk management tools like dealCancellation, distinguishing it from competitors.
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Safety Comparison
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Mobile Trading Comparison
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Comparison for Beginners
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Comparison for Advanced Traders
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Accounts Comparison
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Fee and Cost Comparison
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Broker Popularity
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Broker | Popularity |
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Exness |
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easyMarkets |
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Why Trade With Exness?
Exness is an excellent choice for active forex traders aiming to reduce costs after lowering spreads, enhancing execution speeds, and offering trading on over 100 currency pairs with more than 40 account currencies.
Pros
- Execution speeds now average under 25ms, providing ideal conditions for short-term traders.
- Fast and reliable 24/7 multilingual customer support through phone, email, and live chat, validated by practical tests.
- Exness was the first brokerage to reach monthly trading volumes of $1 trillion and $2 trillion, demonstrating its credibility.
Cons
- Retail trading services are not available in some areas, such as the US and UK, which limits access compared to leading brokers like Interactive Brokers.
- Besides a mediocre blog, educational resources are lacking, especially compared to category leaders like IG, which offer a more comprehensive trading journey for new traders.
- MetaTrader 4 and 5 are supported, but TradingView and cTrader are not available yet, despite increasing demand from traders and their integration with other platforms like Pepperstone.
Why Trade With easyMarkets?
easyMarkets offers fixed spreads starting at 0.7 pips, making it ideal for beginners needing predictable costs. With a Bitcoin-based account, it's also a great choice for crypto traders wanting to deposit, trade, and withdraw in digital currencies.
Pros
- With over 20 years in the industry, multiple awards, and approval from two top regulators, easyMarkets maintains its reputation as a secure broker for active traders.
- easyMarkets introduced Bitcoin as a base currency in 2019, standing out in the market. This removes the need to convert crypto to fiat, lowering fees and simplifying management for crypto-focused traders.
- easyMarkets prioritizes risk management with negative balance protection, guaranteed stop losses, and dealCancellation (updated in 2024 to cover 1, 3, or 6-hour periods) in the Web Trader.
Cons
- easyMarkets lags as it lacks the copy trading features offered by category leader eToro. These features are popular among newcomers wanting to follow the strategies of experienced traders.
- easyMarkets does not provide a zero-spread account like Pepperstone. This can be a disadvantage for traders and high-frequency traders who need low transaction costs.
- easyMarkets offers comprehensive educational resources for beginners but does not meet advanced traders' needs. The Academy includes well-organized courses and engaging gamification, but the content is not detailed enough.
Filters
Understanding the Chinese Yuan in Trading
The Chinese yuan (CNY) is the primary unit of China’s currency, the renminbi (RMB). It’s considered a good option for trading accounts due to China’s large economy and its status as a leading global exporter. The People’s Bank of China (PBoC), the country’s central bank, oversees the currency, reinforcing its stability and importance in international trade.
Explore brokerlistings.com’s recommended brokers that offer trading accounts in Chinese yuan.
How We Selected the Best Brokers
We created a list of the top brokers for trading with CNY by following a thorough evaluation method:
- We used our comprehensive database covering hundreds of brokerages to ensure the information is current.
- Brokers that did not offer CNY accounts were excluded from the list.
- Brokers were ranked using over 100 different factors, including both measurable data and expert opinions.
What Is a CNY Account?
A CNY account is a trading account where you deposit, withdraw, and conduct trades using the Chinese yuan. Such accounts open up access to the Chinese market, which can add diversity to your investment portfolio. By using a CNY account, you can directly benefit from China’s economic growth, avoid currency conversion fees, hedge against currency risks, and potentially enjoy capital gains.
Setting up a CNY account with a trading provider is straightforward. For instance, with Exness, selecting ‘CNY’ from the list of currencies during account setup is all it takes.
Do You Need a CNY Trading Account?
A CNY trading account might be ideal if:
- You want direct access to the active Chinese stock market, where you can trade in various financial products like stocks and commodities through exchanges like the Shanghai Stock Exchange or Shenzhen Stock Exchange.
- You are a Chinese trader who wants to minimize the effects of currency changes on your trade profits by being less exposed to exchange rate fluctuations.
- You live in China and want a simpler tax filing process. A CNY account simplifies tax management by eliminating the need to track currency exchange gains or losses.
How to Check if a Broker Offers a CNY Account
To find out if a brokerage offers accounts in Chinese yuan, follow these steps:
- Visit the ‘Account Options’ section on the broker’s website where a list of available currencies is usually provided. If it’s unclear, contact their customer support for assistance.
- Ensure your trading account supports CNY as the main currency to facilitate smooth transactions in the Chinese currency.
- During account setup, choose CNY as the currency. Be aware that you may not be able to change this choice later, as is the case with Exness.
Advantages and Disadvantages of CNY Trading Accounts
Advantages
- Trading directly in CNY saves money on conversion fees and lessens the impact of exchange rate changes.
- A CNY account exposes you to the Chinese economy, adding diversity to your investment portfolio and potentially improving management of investment risks and returns.
- Transactions with Chinese companies are often completed faster, reducing delays in trades and payment settlements.
Disadvantages
- The yuan is not as widely accepted in trading accounts as major currencies like the USD, which could limit its use for international transactions.
- Some yuan-based assets may have less trading activity, meaning it might be harder to quickly buy or sell without affecting prices, which can influence trading strategies.
- Managing a CNY account for international investments can involve dealing with complex tax rules and regulatory issues.
FAQ
Which Is the Best Broker for a CNY Account?
Check out brokerlistings.com’s recommendations for the best platforms offering CNY accounts, tailored to meet the needs of traders in the growing Chinese market.
How Much Does It Cost to Open a Trading Account Based in Chinese Yuan?
Usually, opening a CNY account requires a minimum deposit of up to USD 250 (about CNY 1,775). However, some brokers offer more affordable entry points. For example, Exness offers trading accounts with a minimum deposit as low as USD 10 (around CNY 70), making it an appealing choice for beginners or those with a limited budget.