Futu Holdings said it will suspend all buy orders and fund deposit services for existing investors in mainland China starting June 12, as part of a two-year rectification plan involving eight government departments. Sell orders and fund withdrawals will remain available.
The notice makes Futu the third cross-border brokerage to confirm the June 12 restrictions, after Tiger Brokers on June 2 and Longbridge Securities on June 3. All three firms have announced the same core change: existing mainland clients will no longer be able to open new positions or transfer fresh funds into their accounts.
About 440,000 mainland accounts at Futu are affected
Futu is the largest of the three by scale. The company has 3.37 million asset-holding clients globally, and mainland China accounts for about 13% of that total, or roughly 440,000 accounts. Those accounts contribute about 20% of Futu’s revenue.
According to the source material, the combined number of affected mainland investors across Futu, Tiger Brokers, and Longbridge is around 1 million. The shift shows that the business adjustment is no longer isolated to one platform, but is being carried out across the main cross-border brokerages serving this segment.
Accounts stay open, but only exits remain available
Regulators said the accounts will not be forcibly logged out, and client assets will not be forcibly liquidated. After June 12, investors can still close existing positions and withdraw funds. What disappears is the ability to place new buy orders or add new capital.
The material also said platforms will be required to shut down domestic services after the two-year rectification period ends. For investors still seeking overseas exposure, regulators pointed to legal channels such as Stock Connect, QDII, and Cross-boundary Wealth Management Connect.