Thai trader or not, if you’re looking for the best brokers in Thailand you might find that the process may not be as simple as you think. In fact, Thai brokers can be quite different from one another.
Overview of Forex Trading in Thailand
Whether your trading adventure hasn’t begun yet or you still have doubts in the back of your mind, here’s a quick Q&A to help you get started.
How to start forex trading in Thailand?
In Thailand, the brokers’ daily operations are overseen by their SEC and by the Bank of Thailand. Accordingly, Thai forex traders are incentivized to choose a regulated local broker as they open their first account.
Accordingly, you will need to provide KYC data (Know your customer), usually in the form of your national ID or driving license, as brokers need to comply with AML requirements and other regulations.
What Payment Methods Do Forex Brokers in Thailand Support?
Following your account creation and verification, funding your account is straightforward as you can do it via bank transfer, e-wallet, debit, or credit card, UnionPay, VISA, Mastercard and so forth.
Leverage For Forex Trading in Thailand
Usually, retail investors will find leverage all the way up to 1:500, something which we’re certain will delight traders with a more aggressive style.
How to Choose the Right Brokers in Thailand
In order for Thai traders to choose the broker which will match their trading style we’ve selected 5 of Thailand’s very best brokers by looking at several indicators such as:
- Regulators and jurisdictions
- What is their asset coverage is
- Mobile trading capabilities
- How easy it is to deposit and withdraw funds
- How effective is their customer service
- Whether they provide educational content or not
- Their trading tools
- Their range of available instruments
Accordingly, some will suit copy traders while others will delight those looking for the tightest spreads.
Best Forex Brokers in Thailand
XM
XM is one of the best forex brokers operating in Thailand. It was founded in 2009 and, ever since, it has been consolidating a solid track record by relentlessly working towards empowering Thai forex traders.
As such, those who are just starting out trading in Thailand can expect to be met with a solid database of educational materials, impeccable customer support, and interactive live trading rooms on a daily basis.
On the other end of the spectrum, seasoned traders can count on great trading tools, MT4 and MT5 integration. If you are planning to trade on the go, know that Android and iOS are fully supported as well.
In what concerns leverage XM goes for 1:888 and their spreads are as low as 0.1pips. XM is regulated by top-tier jurisdictions such as CySEC, ASIC, and IFSC so you can count on them to be a reliable and transparent broker.
With a minimum deposit of $5 and a minimum trade o 0.01 micro lots trading has never been this easier.
And with their customary signup bonuses traders from Thailand can start their journey with XM in a matter of minutes.
XM Features
- Regulation: ASIC, IFSC, CySEC
- Leverage: 1:888
- Minimum spreads: 0.1 pips
- Minimum deposit: $5
- Trading platforms on offer: MT4, MT5
- Benefits:
- Fast withdrawals, top-of-the-line customer support
HFM
HFM established itself in 2010 and given their regulations it is no surprise how easily it became Thailand’s most trusted forex broker. In fact, HFM takes pride in its reliability and transparency which is why it is regulated by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority Seychelles (FSA-SC), the Financial Sector Conduct Authority (FSCA), the Capital Markets Authority in Kenya (CMA) and the Dubai Financial Services Authority (DFSA).
HFM stands out for providing the most competitive trading conditions in the industry with 1:2000 leverage, ultra-fast execution, quick deposits & withdrawals and swap free accounts.
HFM also features over 500+ trading instruments, meaning that this broker goes above and beyond in delivering viable, reliable trading solutions to their clients.
Customer service is also a top priority at HFM which in tandem with their commission-free accounts makes it a perfect beginner-friendly solution.
MT4 and MT5 are supported and with premium MetaTrader indicators and tools Thailand forex traders will be able to trade at the highest level. The broker has recently introduced their HFM Trading app for clients to have access to their accounts, trading CFDs on more than 500+ assets immediately on the app. The app is available for both Android and iOS users.
HFM Features:
- Regulation: FSA, FCA, FSC, CMA, FSCA, CySEC and DFSA.
- Minimum Deposit: $0
- Maximum Leverage: 1:2000
- Trading Instruments: 500+ Instruments on Forex, Metals, Commodities, Stocks, Indices and Cryptos.
- Trading Platforms: MT4 and MT5 for PC, Mac, Web, Android, iOS. HFM Trading App. HFM Copy Trading
- Benefits:
o Different accounts tailored to different trading styles.
o 24/5 online support
o Swap-free accounts
o $0 min.deposit
o 1:2000 leverage
o 500+ Trading Instruments
IC Markets
Founded in 2007, IC Markets is known for its reliability and incredibly tight spreads. IC Markets has since become the largest Forex CFD broker in the world.
It did so by bridging the gap between retail investors and institutional clients by offering a trading solution which was previously only available to a select few groups of individuals and large investment banks.
IC Markets is now operating in 200 countries across the globe and boasts over 200,000 active traders. Their competitive pricing, institutional grade liquidity, supersonic institutional grade trading, and tight spreads have made them the preferred choice for traders around the world.
Being regulated by ASIC , FSA-SC, and CySEC means IC Markets is a reliable and transparent broker.
With a minimum deposit of $200, plenty of payment options, the possibility of commission-free trading, spreads going as low as 0, and leverage going as high as 1:500, IC Markets is certainly on the top of its game.
IC Markets Features
- Regulation: FSA-SC, CySEC, ASIC
- Leverage: 1:500
- Minimum spreads: 0 pips
- Minimum deposit: $200
- Trading platforms on offer: MT4, MT5, cTrader
- Benefits:
- Institutional grade liquidity, incredible educational materials
FXTM
FXTM is an award-winning broker based in Cyprus which is perfect for Thai traders looking for online FX trading. Previously referred to as ForexTime, it became known due to its competitive spreads and commission-free trading.
Unlocking several premium features is as easy as it gets and with their copy trading capabilities and proprietary platform FTXM Invest, it is no wonder why this forex broker is a favorite amongst Thai traders.
In fact, FXTM is positioning itself as the prime solution in frontier and emerging markets given its transparency and regulatory framework. FXTM is regulated by top-tier jurisdictions such as the FCA, FSC, and CySEC, making it a safe option for traders everywhere.
With a minimum deposit of $10, ECN and standard accounts, MT4 and MT5 integration, and a 1:1000 leverage, Thailand’s forex traders can get the ball rolling easily.
And for those who are just starting out or are slightly inexperienced, worry not. FXTM has an incredible research and education section.
FXTM Features
- Regulation: FCA, FSC, CySEC
- Leverage: 1:1000
- Minimum spreads: 0.3 pips
- Minimum deposit: $10
- Trading platforms on offer: MT4, MT5.
- Benefits:
- Research and educational materials
To sum up
Forex in Thailand is demanding but navigating the forex market shouldn’t be hard if you have the right tools.
Putting in the work and the sacrifice may sometimes even mean having to switch brokers.
Whether you’re starting out or already have skin in the game, remember that finding the optimal trading account is quintessential.
So, make sure you go through different account types and see what suits you best and always remember: your trading style is unique, so it’ll be up to you to make the best out of it.
FAQs
Q: Can I trade forex in Thailand? (Is it legal to trade forex?)
A: Following 2017’s change in the regulatory environment, namely through the Central Bank of Thailand, and Thailand Securities and Exchange Commission, forex trading is now completely legal.
Thailand’s government made forex trading legal with the Securities and Exchange Act BE 2535 amendment as the country’s financial system was showing great improvement following the Asian Financial Crisis (1997) and the Global Crisis (2007).
Nonetheless, it is also the responsibility of Thai forex traders to check if they remain compliant, meaning they need to know which local laws, taxes, and other rules or requirements are enforced and need to be upheld.
Q: What is the best time to trade forex in Thailand?
A: Liquidity is above average throughout some periods, meaning Thai traders can find lower trading costs due to the tighter spreads.
These periods are (in local times):
- From 2 am to 5 am: overlaps with the last 2 hours in NYC’s trading session and Sydney’s first hour of trading
- From 7 am to 8 am: overlaps with the first hour of Tokyo’s trading session
- From noon to 1 pm: overlaps with the last hour in Sydney’s trading session
- From 2 pm to 4 pm: manages to overlap with the first two hours in London and the last one in Tokyo’s trading sessions
- 7 pm to 11 pm: overlaps with the first two hours of trading in NYC and the last two in London.
Q: What is the best trading platform in Thailand?
A: The top broker in Thailand will always be a subjective choice given how traders can craft different strategies and use different trading styles.
As such, scalpers will prefer one broker while copy traders will go a completely different way.
Logically, it is up to the trader to weigh all the pros and cons and find the optimal trading solution for him or herself.
