Futu Holdings: Suspending Buy Transactions for Existing Accounts in Mainland China Starting June 12
N.R. Finch
Futu Securities will suspend all buy orders and inbound fund transfers for existing mainland China users from June 12, putting accounts into sell-only mode as Beijing's cross-border brokerage crackdown enters enforcement.
What exactly is being suspended?
From June 12, 2026 (Beijing time), existing mainland China users cannot open any new positions across all product types; inbound fund transfers are also blocked.
In plain terms = accounts can only sell and withdraw — no buying, no depositing. They enter a one-way wind-down mode.
Selling (closing positions), account inquiries, and holding existing positions remain unaffected.
Why is Futu acting now?
Futu framed the move as compliance with a "two-year concentrated rectification period" imposed by industry regulators.
This means → the regulatory push on cross-border securities has moved from policy signals to concrete platform-level execution, and Futu is choosing proactive compliance.
The announcement stressed that services outside mainland China and client asset safety are unaffected — but with both buying and transfers suspended, the path to expanding cross-border investments is effectively cut off.
What does this mean for existing users?
Mainland China users cannot add any new positions after June 12, nor top up their accounts with fresh funds.
This means → existing holdings can only be held or sold — portfolio flexibility narrows sharply.
This reflects the cross-border brokerage industry moving from a grey zone into clearly drawn regulatory boundaries. Futu's move may be just the first in a broader industry sequence.
Content is for reference only, not financial advice.