Hong Kong - Tiger Brokers will block investors physically located in mainland China from adding new positions starting June 12. The firm cited a regulatory crackdown by Beijing, which deems cross-border accounts illegal under stricter rules introduced May 27.
This is one of the first concrete compliance steps by an online brokerage following China's directive. Investors can still trade when overseas. Meanwhile, rival Futu has stopped opening new accounts for mainland ID holders; mainland clients made up 13% of its base last quarter.
Regulators have granted a two-year grace period to wind down illegal activities.