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6 Best Forex Brokers in Thailand for 2024
Looking for top forex brokers in Thailand? Based on our hands-on analysis, we’ve identified 6 best options tailored to various trading needs. Practical tips from our experts are included.
By:
Reviewed By:
Updated: Mar 5, 2024
List of Top Forex Brokers in Thailand
Raw spread ECN trading accounts. MT4, MT5, cTrader platforms. Autochartist and extra MT4/MT5 tools. Trade on multiple asset classes.
Multiple account types. Leverage up to 1:3000. Commission-free trading. MT4, MT5 and FBS Trader platforms.
Zero commission and overnight swap fees on cryptos. Synthetic cryptos, NFTs, DeFi tokens. Advanced trading toolkit for MT5 platform. Multiple crypto deposit options and bonus promotions.
Featured Ideas from Trading Central. Additional MT4 indicator package. Forex Sentiment from TradingView. Moneta Markets Web TV.
Low fees, zero spreads, no requotes. MT4, MT5 and cTrader. IC Social. Thai customer support.
ECN MT4 trading accounts. MT4 copy trading via ZuluTrade, DupliTrade. Extra MT4 Smart Trader Tools. Bonuses for Thai traders.
CFD and Forex Landscape in Thailand
In Thailand, the regulation of CFD and Forex markets falls under the Securities and Exchange Commission (SEC). The SEC ensures brokers adhere to strict guidelines, including capital adequacy and client fund protection, to maintain a transparent and fair trading environment.
Additionally, brokers must obtain a license from the SEC, which includes compliance with anti-money laundering laws and investor protection measures. The SEC actively monitors market activities to prevent fraud and uphold market integrity. Thai residents can trade with international brokers but should exercise caution and ensure these brokers comply with international regulatory standards and local Thai financial regulations.
How Did FX Empire Select the Best Brokers in Thailand?
- We checked if the broker has entities authorized and regulated by a financial authority.
- We analyzed if the broker allows deposits and withdrawals in Thai Baht (THB).
- We checked for any bonuses or promotions for Thai clients.
- We opened a live trading account to check for low fees.
- We tested the platform to see if it is easy-to-use and feature-rich.
- We conducted a live customer support test and checked the broker offers Thai customer support available during local business hours.
- We checked for easy access to Thai payment methods.
- We identified if there is a localized Thai version of the broker’s website.
Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.
This analysis, along with my own personal trading experience, has led to the findings and research below for the best forex brokers in Thailand.
Best Overall
4.6
Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
- Min Deposit$100
- Tradable Instruments8977
- FeesLow
Why We Picked It
If you are looking for a good, all-round trading experience then FP Markets could be an option for you. Established in 2005, FP Markets has entities authorized and regulated by ASIC and CySEC with one unregulated entity based in St. Vincent and the Grenadines. You can trade on 850+ financial instruments from the MT4, MT5 and cTrader platforms.
Regional Features:
- Thai traders can open an account with the FP Markets entity based in St. Vincent and the Grenadines which is not regulated by a financial authority.
- Leverage of up to 1:500 for all accounts.
- Thai payment options include 20+ methods such as bank transfer, credit/debit card, Neteller, Skrill, Asia Banks, Sticpay, Fasapay, Virtual Pay, Rapyd, Perfect Money, XPay, cryptocurrencies and more.
- The localized Thai version of the FP Markets website is available.
- Accessibility of customer support in Thai during business hours.
- Trade on USD/THB and many other currency pairs.
During our live test, I was impressed by the number of platforms FP Markets provides its users. You can trade from MT4, MT5 and cTrader which – from my own experience – are all exceptional forex trading platforms. The broker also provides extra trading tools to aid your trading.
This includes the use of AutoChartist and Trading Central. I enjoy using AutoChartist as it finds real-time technical analysis patterns across a range of timeframes and markets. I find it to be useful in speeding up the research and analysis time which is important if you are more of a short-term trader.
The two account types available for traders in Thailand include the Standard and Raw account. While the Standard is a commission-free account, the Raw account charges a competitive commission per lot, per side of 3 USD which is better than the industry average of 3.50 USD.
Both account types offer ECN pricing which means price quotes are sourced from multiple liquidity providers to provide the best possible execution price. During our live fee test, I found the spread for EUR/USD during the London and New York session averaged 1.0 pips which is the industry average for a commission-free trading account.
Pros and Cons
Pros
- Raw spread ECN trading accounts.
- Competitive commissions.
- MT4, MT5, cTrader.
- AutoChartist and Trading Central tools.
Cons
- Thai traders open an account with the entity in St. Vincent and the Grenadines which is unregulated.
Best Account Offering
4.1
Trading involves a risk of loss
- Min Deposit$100
- Tradable Instruments164
- FeesLow
Why We Picked It
If you’re looking for a forex broker that provides a range of zero-commission trading accounts, with high leverage, then FBS could be an option for you. Founded in 2009, FBS is authorized and regulated by the CySEC, ASIC, FSCA and IFSC Belize, providing three different trading accounts for Thai residents to trade on more than 182 financial instruments with up to 1:3000 leverage on forex.
Regional Features:
- Thai traders can open accounts with the entity authorized and regulated by the IFSC Belize.
- Leverage up to 1:3000.
- Thai payment options: Krungthai Bank, Kasikorn Bank, Krubank, Siam Commercial Bank, Bangkok Bank, Thai QR, TrueMoney, Perfectmoney, Stickpay, Visa, Maestro, UST, BTC, ETH and LTC cryptos.
- THB deposits are available through Online Banking Thailand.
- A Thai version of the website with customer support in Thai during local working hours.
- 100% deposit bonus.
During our live test, I found that FBS offers traders from Thailand access to 3 different trading accounts which come with a range of different features.
- Standard Account: Leverage up to 1:3000, spread from 0.7 pips, minimum deposit $1.
- Cent Account: Leverage up to 1:1000, spread from 0.7 pips, minimum deposit $1.
- Pro Account: Leverage up to 1:2000, spread from 0.5 pips, minimum deposit $200.
After opening a live Standard Account to test the live spread for EUR/USD, I found that it averaged 0.95 pips during the London and New York session. As all three accounts have zero commission, this spread is better than the industry average of 1.0 pips.
Each account type offers very high leverage from 1:1000 to 1:3000 from the entity regulated by the IFSC Belize. The entities regulated by CySEC and ASIC are restricted to offering a maximum of 1:30 leverage for forex pairs. But while high leverage can help to amplify gains, it also does the same to losses so risk management will be important.
I also found that there is a range of bonuses and promotions available for all three accounts. This includes a 100% deposit bonus and cashback on your trades (but only available when using FBS Trader). The cashback offer means you could earn up to 5% of the spread when trading up to 13 lots, 10% of the spread when trading from 14 to 33 lots, 15% of the spread from 34 to 59 lots and 20% from 60 lots and above.
Pros and Cons
Pros
- Multiple account types.
- Zero commission.
- High leverage.
- Bonuses and promotions.
Cons
- Range of instruments is lower than some other brokers.
Best for Crypto Trading
CFDs are complex instruments and carry a high level of risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether trading is appropriate for you. You should not invest money that you cannot afford to lose. Leveraged products may not be suitable for everyone and may result in loss of all your capital.
- Min Deposit$5
- Tradable Instruments130
- FeesHigh
Why We Picked It
Established in 2019 and based in Seychelles, FXGT.com operates through three entities worldwide. The broker supports cryptocurrency payments, offers a comprehensive selection of crypto CFDs, and grants access to synthetic cryptocurrencies. With its versatile offerings, FXGT.com caters effectively to the needs of crypto traders, enabling them to navigate and prosper in the highly volatile and dynamic cryptocurrency market.
Regional Features:
- Thai traders can open an account with GT Global Ltd, authorized and regulated by the FSA Seychelles.
- Leverage up to 1:1000.
- Thai payment options include bank transfer, 1-2-Pay, and cryptos, including BTC, ETH, XRP, ADA, and USDT.
- Localized Thai version of website is available.
- 50% welcome bonus, 25% loyalty bonus, 30 USD no deposit bonus
FXGT presents Thai traders with a diverse portfolio of over 150 instruments, including forex, stocks, indices, commodities, cryptos, NFTs, and DeFi tokens. It stands out for its unique synthetic cryptos, like Bitcoin paired with Apple (BTCAPL) or Oil (BTCUSO), offering novel trading opportunities.
The GTi12 crypto index, encompassing 12 cryptocurrencies, provides a comprehensive market overview. Available through the FXGT Pro account on MT4 and MT5 platforms, it offers zero commission and low overnight swap fees. Our assessment revealed a competitive BTC/USD spread averaging $5.52, surpassing industry norms.
Pros and Cons
Pros
- Major, minor, and exotic forex pairs.
- Cryptos, synthetic cryptos, NFTs, DeFi tokens.
- Zero commission trading from MT4/MT5 platforms.
- Multiple bonus options.
Cons
- Limited research and education materials.
Best Trading Tools
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
- Min Deposit$50
- Tradable Instruments1039
- FeesMedium
Why We Picked It
Founded in 2020, Moneta Markets is authorized and regulated by the FSCA, FSA Seychelles, and has one unregulated entity based in St. Lucia. It provides an excellent range of trading tools for traders in Thailand, which include Feaured Ideas, Market Buzz, a live economic calendar, Technical Views, Moneta Markets TV, and more.
Regional Features:
- Thai traders can open an account with Moneta Markets Ltd entity based in St. Lucia which is unregulated and not licensed by a financial regulator.
- Leverage up to 1:1000.
- Thai payment options: International Bank Wire Transfer, FasaPay, JCB, Sticpay, Visa/Mastercard.
- A translated version of the website is available in Thai.
During our live test, I found that Moneta Markets provides an excellent range of trading tools from Trading Central and TradingView. This includes access to Market Buzz which covers the latest market news and social media chatter across 35,000 tradable instruments and 300+ currency pairs. The Featured Ideas section provides real-time technical analysis trading ideas with a detailed explanation behind them.
I found the live economic calendar to be very useful as it automatically configures your own timezone and provides real-time economic news data. Within the trading tools offered by Moneta Markets, there is a package of additional MT4 indicators, which includes adaptive candlestick scanners and real-time pattern recognition tools.
Our live fee test showed the average spread for EUR/USD during the London and New York sessions averaged 0.15 pips on the Prime ECN account, which has a competitive commission of USD 3 per lot per side. With access to 1,000+ tradable instruments from the MT4 and Pro Trader Web platform powered by TradingView, there are plenty of tools for traders in Thailand.
Pros and Cons
Pros
- Technical analysis scanners.
- Real-time trading ideas.
- Multiple trading platforms.
- Real-time market news.
Cons
- Educational materials are limited.
Best Low Spreads
4.5
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
- Min Deposit$200
- Tradable Instruments2251
- FeesLow
Why We Picked It
If you prioritize trading with a broker that provides the most competitive trading fees in Thailand then IC Markets may be a good option for you. Founded in 2007, IC Markets is based in Sydney, Australia, and is authorized and regulated by CySEC, ASIC, SCB, and the FSA of Seychelles, providing access to more than 2,250 financial instruments from the MT4, MT5, and cTrader platforms.
Regional Features:
- Thai traders can open an account with IC Markets with its Raw Trading Ltd entity, authorized and regulated by the Financial Services Authority (FSA) of Seychelles under license number SD018.
- Leverage up to 1:500.
- Thai payment options include credit and debit cards, PayPal, Neteller, Skrill, Bank Transfer, RapidPay, and Klarna.
- A localized Thai version of the IC Markets website is available.
- Access to Thai customer support during business hours.
- Trade on USD/THB and many other currency pairs.
IC Markets is considered the ‘go-to’ broker for serious forex traders who want access to raw spread interbank pricing, no requotes, and no limitations on strategies or how close your orders can be to the live market price.
The trading accounts available for Thai traders depend on whether you trade from the MetaTrader or cTrader platforms. Here is a breakdown of what is available:
- cTrader Raw Spread account: Spreads from 0.0 pips. Commission from $3.00 per 100,000 units of currency traded, per side.
- MetaTrader Raw Spread account: Spreads from 0.0 pips. Commission of $3.50 per 100,000 units of currency traded, per side.
- Standard Account (MT4/MT5): Spreads from 0.6 pips. Zero commission.
After opening a live trading account and testing the broker’s fees, I found the spread during the London and New York session for EUR/USD was 0.6 pips and averaged 1.35 pips for GBP/JPY.
From my years of trading experience, I found these to be very competitive. The average spread for EUR/USD on a commission-free trading account is 1.0 pips – with IC Markets this is nearly halved. I have seen some brokers quote more than 5.0 pips for GBP/JPY, so the IC Markets spread of 1.35 pips is also very competitive.
For the commission-based accounts, the $3.50 fee per lot, per side for MetaTrader and the $3.00 fee per lot, per side for cTrader are in line with the industry average. One unique feature I enjoyed was that IC Markets has no order distance restriction which means you can place orders very close to the current market price.
Pros and Cons
Pros
- Raw spreads, low fees, zero requotes.
- MT4, MT5, and cTrader.
- MT4 advanced trading tools.
- Copy trading via IC Social, ZuluTrade.
Cons
- No THB deposit options, only EUR, GBP, USD, AUD, CAD, NZD, CHF, JPY, HKD, SGD.
Best MT4
4.5
Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
- Min Deposit$50
- Tradable Instruments935
- FeesLow
Why We Picked It
If you’re interested in capitalizing on the best features of the popular MetaTrader 4 platform and accessing additional trading tools for it, then Vantage might be for you. Founded in 2009, Vantage is based in Sydney, Australia, and is authorized and regulated by ASIC, VFSC, FSCA, and CIMA. It provides more than 900 financial instruments to trade on via MT4, complete with an upgraded Smart Trader Tools package.
Regional Features:
- Thai traders can open accounts with the Vantage Markets LTD entity, authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa under license number 51268.
- Access leverage up to 1:1000.
- Thai payment options include UnionPay, Neteller, Boleto, Skrill, Bank Transfer and credit/debit cards.
- A localized Thai version of the Vantage website is available.
- Access customer support in Thai during local business hours.
- Trade on USD/THB and many other currency pairs.
- Access a 50% welcome bonus up to $1000 and 20% after that.
Vantage has a top-notch MT4 offering. All the standard MT4 features are available including use of the platform on desktop, web, and mobile, 80+ technical indicators, 30+ drawing tools, multiple chart and order types, and the ability to access the MetaTrader marketplace for customized indicators and algorithmic trading strategies.
In my live trading test of Vantage, I also found that you can upgrade your MT4 with the Smart Trader Tools package. This is a suite of extra trading tools and indicators for MT4 and includes a mini-terminal, sentiment trader indicator, correlation matrix, and alarm manager.
From my personal trading experience, I enjoy using the correlation matrix indicator. It is a great risk management tool to ensure you’re not trading markets that are too correlated with one another. The alarm manager can also be useful as you can set price alerts around certain price levels.
As copy trading is now a big thing in Thailand, Thai traders may enjoy the fact you can connect your Vantage MT4 account and join the Vantage Social League. This can be accessed through the Vantage trading app, allowing you to copy other traders.
Pros and Cons
Pros
- Smart Trader Tools MT4 upgrade.
- Vantage Social Trading app linked to MT4.
- Raw spread ECN trading accounts.
- Welcome bonus available.
Cons
- No cryptos available for Thai traders.
How to Choose a Forex Broker in Thailand?
Here are some key points to take into consideration when choosing a forex broker in Thailand.
Why is it important to choose a regulated broker in Thailand?
In my experience, choosing a regulated broker is extremely important. If a broker lacks supervision from a financial regulator, your funds may be at risk and trade execution may not follow best practices and there may be no recourse if they take your money.
Opting for a broker regulated by a government financial body provides increased safety and peace of mind. However, not all financial regulators are equal. In our broker rating reviews, we classify regulators into three tiers:
- Tier 1: Well-established financial centers like the UK’s FCA and Cyprus’ CySEC.
- Tier 2: Lesser known but still credible regulators such as South Africa’s FSCA and Singapore’s MAS.
- Tier 3: Regulators from offshore jurisdictions like Belize’s IFSC and British Virgin Islands FSC.
The Central Bank of Thailand and the Securities and Exchange Commission of Thailand regulate the Thai Baht to ensure liquidity in the system and oversee financial institutions.
However, they do not regulate the activities of forex brokers but do allow internationally regulated brokers to operate in Thailand. This means you can trade with a tier 1 regulated broker from Thailand providing the highest level of safety and security.
In my experience, it is best to stay clear of unregulated brokers as there is no recourse if they take your capital. Check out our guide on the best regulated forex brokers.
What fees should you be aware of when choosing a broker?
A broker’s fees can be divided into trading and non-trading fees. Trading fees cover the opening, closing, and holding of positions and include the spread, commission, and swap fees.
The spread refers to the difference between the buying and selling prices. Ideally, a lower spread is preferred. In our broker rating reviews, we consider a spread of 1.0 pip on EUR/USD on a commission-free trading account to be the industry average.
A commission may also be charged for opening and closing positions. While some brokers offer commission-free trading, others offer lower spreads with commission-based trading. In our broker rating reviews, we consider a commission of $3.50 per 100,000 units of currency traded to be the industry average.
The swap fee is an overnight fee for positions held using leverage or margin, such as CFD products. It varies based on the currency’s interest rates and broker markup. Closing trades before the end of the trading day (around 10 p.m. London time) usually helps avoid swap fees, but long-term traders should be cautious.
Non-trading fees include charges for dormant accounts or periods of inactivity, as well as fees related to deposits and withdrawals.
You can check your trading fees in Thailand by opening a demo trading account with a broker. This allows you to test the services risk-free to identify if they are suitable for you.
What is the best type of account to trade from?
Brokers provide various types of trading accounts to cater to different needs in the financial markets. These differences usually revolve around the execution model or the minimum deposit requirements.
Execution account types include:
- STP (Straight Through Processing): Orders are sent directly to the broker’s liquidity provider.
- ECN (Electronic Communications Network): Orders are matched with prices from multiple liquidity sources, such as investment banks.
- DMA (Direct Market Access): Clients trade directly with interbank market participants.
ECN accounts often offer competitive spreads, but they usually involve commissions. It’s important to check the commission rates and make sure they are at least in line with the industry average, if not better. Regulated brokers are obligated to be transparent about their execution types, so you can find this information in their legal documents and terms and conditions.
Brokers may also offer account types based on minimum deposits. For instance, a Standard Account might require a minimum deposit of $100, while a Premium Account may have a minimum deposit of $5,000. Higher account balances typically come with benefits like lower spreads, reduced commissions, and more trading tools.
It is essential to research and understand all the account types offered by a broker before making a decision. You can test different account types by opening a demo trading account, which allows you to trade in a virtual environment and practice without risking real money.
What leverage to use when trading in Thailand?
CFD brokers exist primarily for leveraged trading. This trading method allows you to control a larger position with a smaller capital amount by borrowing funds from your broker.
Leverage-based trading, also known as margin-based trading, involves the broker lending you capital to trade a larger position. The broker charges interest on the borrowed funds, typically referred to as the swap fee. This approach enables the potential for larger profits, but it also carries the risk of larger losses.
The margin required to open a trade varies depending on the instrument and the regulatory body overseeing the broker. Retail CFD brokers regulated by tier 1 regulators like CySEC or the UK FCA often offer a maximum leverage of 1:30. This means you can open a position that is 30 times larger than the capital you invest.
However, as Thailand’s financial authorities do not directly regulate forex brokers, some brokers are based offshore in tier 3 jurisdictions that may offer much higher leverage of 1:500 or even 1:1000. This can be great for the experienced trader, but beginner traders should be careful using too much leverage as it amplifies both wins and losses.
Which trading platform is best to use?
Many retail trading brokers offer the popular MetaTrader 4 and MetaTrader 5 trading platforms, which are accessible through desktop, web, and mobile devices. The desktop platform typically offers the most extensive range of features, including automated trading capabilities.
It’s also worthwhile exploring the broker’s proprietary trading platform, as these platforms often provide additional features such as sentiment indicators, real-time news, and trading ideas. You should assess your specific trading needs and choose the platform that best meets those requirements.
I personally find having access to multiple trading platforms is important. It ensures uninterrupted trading even if one platform experiences technical issues. This allows you to seamlessly continue your trading activities without any downtime.
While MT4, MT5, and cTrader platforms are commonly offered by retail forex brokers, they do require a learning curve. If you’re a beginner trader you may prefer the broker’s web platform or mobile trading app. Explore our guides on the best MT4 brokers, best MT5 brokers, and best cTrader brokers.
What to avoid when choosing a forex broker in Thailand?
In my experience, it is wise to avoid brokers that are not regulated by a recognized financial authority. A key indicator of the brokers’ credibility and the safety of your investment is regulation.
The main regulators in Thailand are the Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC), but your broker may be governed by a foreign regulator. In that case, make sure they are highly reputable.
You should also be on guard of brokers with unclear fee structures. Always make sure you understand the fees for transactions, withdrawals, and account maintenance. Another red flag is poor customer service. Your broker should always have quick and easy-to-reach customer support.
How to avoid forex and CFD scams?
Forex and CFD scams are not uncommon in the financial world, but with research and awareness, you can avoid them relatively easily. Here are three simple steps to avoid forex and CFD scams:
- Ensure that your broker is regulated by a financial authority, preferably a tier 1 regulator such as the UK FCA and CySEC. These financial authorities oversee the broker to make sure they are abiding by best practices.
- Stay clear of brokers promising guaranteed high returns. Forex and CFD trading involves risk and no legitimate broker can promise risk-free trading or guaranteed profits.
- Read the broker’s fee structure: any broker with unclear pricing or hidden fees should be a warning sign.
Another good tip is to educate yourself – the more you know about forex and CFD trading, the less likely you are to be scammed.
Our Methodology
FX Empire has been a pioneering source for broker reviews, continuously enhancing our evaluation methodology to keep pace with industry changes.
Our rating system encompasses nine core categories: trust, fees, platforms and tools, tradable instruments, customer service, deposit and withdrawals, account types, research, and education.
Within each category, we analyze over 250 data points, comparing brokers to determine how their offerings measure up against the industry average. This comprehensive evaluation process empowers our readers with the confidence to choose the right broker.
For selecting the best forex brokers in Thailand, I have leveraged the insights from our research team and further refined the brokers based on the following factors and my own personal trading experience
- Top-tier regulation from well-known, globally established regulators
- Deposits and withdrawals in Thai Baht (THB) allowed
- Bonuses and promotions for Thai clients
- Low trading fees including spreads and commissions
- Easy-to-use and feature-rich trading platforms
- Thai customer support available during local business hours
- Easy to access Thai payment methods
- Localized Thai website where possible
Through comprehensive research and analysis of these factors, I have curated a list of the top brokers in Thailand for you to explore in-depth. I recommend you test a broker’s features using a demo trading account. This allows you to experience the platform firsthand before making your final decision. Get an insight into our expert guide on the best forex demo account.
Meet our Writers
The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Get to Know Our Authors
Dan BlystoneBroker Analyst
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan SolankiBroker Analyst
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Plamen StoyanovBroker Analyst
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
Vladimir ZernovBroker Analyst
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Is forex trading legal in Thailand?
Yes, forex trading is legal in Thailand.
How does the Central Bank of Thailand regulate forex trading?
The Bank of Thailand (BOT) is the central bank that oversees all financial operations within the country, including the liquidity of its currency.
How can I verify if a forex broker is regulated in Thailand?
You can verify the regulatory status of a broker by checking their website for their licensing information. Thailand’s financial authorities allow internationally-regulated brokers to operate so you can check the relevant regulator’s website.
Which broker is suitable for beginners in Thailand?
Windsor Brokers is a good option to consider for beginner traders in Thailand as they have an extensive range of educational videos in Thai and offer a low minimum deposit to open an account.
Which broker is suitable for professional traders in Thailand?
GO Markets offers a suitable package for professional traders in Thailand as they provide access to MT4 and MT5 but with an additional range of extra indicators through its MT Genesis package and access to AutoChartist for automated real-time pattern recognition.
What is the best forex trading platform in Thailand?
Most retail forex brokers will offer one or many of the following trading platforms: MT4, MT5, cTrader, and TradingView. Which one is best will depend on your needs as a trader, but you can usually test them with a demo trading account.
Do I need to pay taxes on forex trading in Thailand?
Yes, 15% withholding tax. *However, it is important to note that tax regulations can vary, and it is always advisable to consult with the local financial authorities or a qualified tax professional to ensure compliance with the latest laws and regulations.
Can I trade with offshore-regulated brokers in Thailand?
Yes, Thai traders can trade with offshore regulated brokers, but they must ensure these brokers are reputable and regulated by well-known authorities.
Is cryptocurrency trading available in Thailand?
Yes, cryptocurrency trading is available in Thailand and is regulated by the Securities and Exchange Commission (SEC) of Thailand.
Can I trade forex in Thailand without a broker?
Technically, it's possible but practically challenging. Brokers provide access to forex liquidity providers and trading platforms that would be difficult for individual traders to access.
What is negative balance protection?
Negative balance protection means that you cannot lose more money than you have deposited in your trading account. If the balance goes negative due to extreme market volatility, the broker will reset it to zero.
How can I verify that my broker offers negative balance protection?
The brokers' website or legal customer agreement contains this information. Otherwise, you can verify it by contacting the brokers' customer support.
What is a compensation scheme?
A compensation scheme is a way for traders and investors to keep their finances safe. The scheme compensates the broker's clients up to a certain amount if they go bankrupt or cease to operate.
How can I verify that my broker is a member of a compensation scheme?
Brokers usually state this information on their website and in its legal terms and conditions. You can also check this on the website of the compensation scheme itself, or ask the broker directly.
What is a segregated fund?
A segregated fund is a client fund that brokers keep separate from their own operational funds. This is a regulatory requirement from tier 1 regulators.
How can I verify that my broker uses segregated funds?
This information should be available on the broker's website and legal terms and conditions, or you can contact customer support.
About the Author
Jitan SolankiBroker Analyst
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
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