Looking for the best Forex brokers in Thailand? Look no further! In this article on AtoZ Markets, we will discuss the top Forex brokers in Thailand and what you should look for when choosing a broker. We will also provide a list of our top picks for Thai Forex traders. So, whether you are just getting started in the world of Forex trading or you are looking for a new broker to try out, read on for the best options in Thailand.
Best Forex Brokers in Thailand 2024
How to Choose Forex Brokers in Thailand?
When it comes to Forex trading, there are a few things you should keep in mind. First, make sure that the broker you choose is regulated by well known regulatory authorities. These regulatory bodies oversee all financial institutions and ensure that they operate legally and ethically.
Another important thing to consider when choosing a Forex broker is the type of platform they offer. There are three main types of platforms: MetaTrader, Proprietary Platform and cTrader. MetaTrader is the most popular platform among retail traders, while cTrader is more popular among institutional investors. All the platforms have their own strengths and weaknesses, so it's important to choose one that best suits your trading style.
Finally, make sure to compare spreads and commissions before selecting a broker. Spreads are the difference between the bid and ask price of a currency pair, and commissions are charged by brokers for each trade you make. Generally speaking, lower spreads and commissions will result in lower trading costs for you as a trader.
Best Forex Brokers in Thailand
Now that you know what to look for in a Forex broker, let's take a look at our top picks for Thai traders.
Our top five picks are:
- Pepperstone
- FP Markets
- XM.com.
- eToro
- AvaTrade
All of these brokers are regulated by different reputable regulatory authorities, offer competitive spreads and commissions, and provide their clients with access to their platforms.
1. Pepperstone
Pepperstone is a forex broker that is located in Melbourne, Australia. The company was founded in the year 2010. Initially, they operated their operations from Australia. Then they expanded their business into other nations. They offer services for Thailand as well.
image credit: Pepperstone
Pepperstone Regulations
Pepperstone is a multi-licensed forex broker. The broker is controlled with the help of the following authorities:
United Kingdom: Pepperstone is licensed and is regulated through the Financial Conduct Authority (FCA) in the UK.
Australia: The broker is regulated by Australian Securities and Investments Commission (ASIC) in Australia
Dubai: Pepperstone is regulated by the Dubai Financial Services Authority (DFSA).
Global Pepperstone Markets Limited is located at Sea Sky Lane, B201, Sandyport, Nassau, New Providence, The Bahamas and is licensed and controlled by The Securities Commission of The Bahamas,( SIA-F217).
Pepperstone is also controlled in the form of BaFin, CMA, and CySEC.
Pepperstone Trading Platforms
Pepperstone provides MetaTrader 5 and 4, as well as cTrader to facilitate Forex transactions across Thailand. MT4 and MT5 provide industry-standard features that all brokers offer.
cTrader of Pepperstone offers the environment that is ideal for institutional trading. CTrader is the best platform for those beginning their journey into trading. It also lets you fill orders using advanced cTrader functions.
Pepperstone also offers Social trading facilities via myfxbook as well as DulpiTrade.
Pepperstone Products
Pepperstone provides 60+ currencies with low spreads and more than 24 CFD cryptocurrencies, Stock CFDs of AU, US, UK and German shares, ETF CFDs, Index CFDs, as well as Commodities.
Pepperstone offers two kinds of accounts for Thailand traders. 1. Razor Account 2. Standard Account. The broker provides leverage of 1:500 to Forex trading.
Cost of Pepperstone
The initial minimum deposit for Pepperstone is $200. The minimum amount for withdrawal is $20. The deposit or withdrawal charge, except for the transfer to a bank account.
Standard Account does not have a commission but spreads are very high. On the other hand, Razor spreads for accounts start at zero pip. Commission is $7 for an ordinary lot.
Pepperstone Customer Support
Pepperstone can be reached any time, via a variety of ways, including e-mail, phone, and Live chat directly. Live chat is the first option to use. You'll be greeted by an automated chatbot. If the bot isn't in a position to answer your queries then you'll be offered the option to speak to an agent in live chat.
Read Full Review of Pepperstone
Pros and Pros and Pepperstone
Pros
- Access to more than 60 foreign exchange pairs.
- Leverage is available to both forex and cryptocurrency traders
- An array of instructional tools and courses that professionals and novices will take advantage of.
- 24/7 customer service
Cons
- The broker isn't currently accessible to U.S. traders.
- It is not possible to purchase stocks, bonds and mutual funds on the spot, only CFDs are available.
If you'd like to try it using Pepperstone located in the Thailand You can do so by clicking the following link:
Alternative Forex Brokers for Thailand
2. FP Markets
FP Markets is a group of companies, which include First Prudential Markets Pty Ltd and FP Markets LLC. It is an international Forex as well as CFD broker based in Australia.
image credit: FP Markets
FP Markets Regulations
FP Markets is multi licensed and is regulated by three reputable regulatory bodies, including:
Australia: FP Markets is regulated by ASIC In Australia- Australian Securities and Investments Commission
Cyprus: FP Markets is also authorised and controlled through the Cyprus Securities and Exchange Commission (CySEC License number 371/18)
Global Operation: FP Markets LLC is also a registered business of St. Vincent and the Grenadines Limited Liability Number 126 LLC 2019.
Trading Platforms at FP Markets
The range of platforms for trading is vast and includes the MT4, MT5 or web Trader. They also offer apps to Android as well as iOS.
FP Markets Products
This Forex broker provides more than 10,000 trading instruments, which is truly plenty!
A majority of brokers do not offer such a number of assets. Before we look at the different types of pairs that trade, we'll look at the platforms used by FP Markets for trading.
The Account Types available on FP Markets are Standard account Raw Account, Demo Account.
To return to the pairs of trading available, FP Markets offers 60+ pairs. This includes minor, major, as well as exotic currencies.
With FP Markets, you gain access to more than 10,000 CFD shares from all over the globe.
Shares are traded through CFDs. This means you do not actually hold the shares however, you can trade them through CFDs that are contracts for difference.
Apart from the Forex, they offer Bonds, Gold, Silver, Commodities, Indices and CFDs in Crypto on FP Markets. FP Markets offers 1:500 leverage for Forex trading.
The costs of FP Markets
FP Markets doesn't have any deposit fees. It's absolutely free, and the minimum deposit for FP Markets is $100. Most methods of deposit are immediate, except for bank transfers, which can take up 3 to 5 days.
For withdrawals, it's also free. However, for wire transfers the bank might charge charges.
The Commission for Standard Account is zero. The Raw Account Commission amounts to 3 dollars per side, per standard lot. FP Markets spreads on Standard accounts start at 1.0 pip. For the Raw Account, Spreads begin at zero pip.
FP Markets Customer Service
Customer support at FP Markets is available 24 hours a day. You can reach FP Markets customer support through several methods, such as live chat, telephone Telegram, live chat, or email. The most efficient method is to reach them through the live chat feature or by phone.
Read Full Review of FP Markets
Pros and Pros and FP Markets
Pros
- They have ECN execution
- The broker provides more than 10,000 trading instruments that you can select from.
- Low spreads on currency pairs that are forex.
- Processes for withdrawal and deposit are swiftly completed
Cons
- At FP Markets, Stock CFD charges are very high.
- Desktop and Web platforms is quite old
If you're interested in giving it a go using FP Markets in Thailand, you can click this link:
3. XM
The next Thailand broker on the list of our top Thai brokers is XM. In 2009 XM Global Limited started its trading online service under the brand name XM. Today, they have more than 5,000,000 customers and 600 professionals working all over the world. XM has operations in more than 190 countries.
image credit: XM
XM Regulations
XM is a multi licensed and licensed broker that is licensed and regulated.
Cyprus: The firm is licensed, and is regulated by CySEC.
Australia: XM is regulated by the Australian Financial Services License by ASIC.
Belize: XM is licensed by IFSC.
XM Products
XM provides Forex CFDs, Cryptocurrencies and Cryptocurrencies on Equity Indices, Stocks, Commodities, Precious Metals, Energies and Shares.
They offer different kinds of live accounts. Micro Account, Standard Account, XM Ultra Low Account, Shares Account, Islamic Account and Demo Account. They give leverage from 1:1 to 1:888.
XM provides 57 FX pairs. This includes major, minor and foreign currency exchange pairs. They offer 31, Crypto into Fiat Currency pairs.
They have eight commodities available that comprise Cocoa, Soyabean, Coffee, Corn, Cotton, Sugar, Copper and Wheat.
When you trade stocks, you have access to more than 1246 of the largest firms in the US and other stock markets with XM. The trading of shares can be performed using CFDs.
You are also able to trade Indices. They offer 14+ Indices which include US500, US100, UK100, US30 and more.
You can also exchange silver, gold as well as Crude oil, Natural Gas and WTI oil on XM.
They also have accounts for trading shares. Through this account, you'll be able to purchase shares on US, UK and German stock exchanges.
XM Trading Platforms
Let's look at their trading platforms. Customers of XM are able to start trading with MT4 and the MT5 platform, which is accessible on PCs as well as MAC as well as a variety of mobile devices. Customers can also enjoy a trading experience using the XM WebTrader, instantly accessible via your browser.
Costs of XM
XM doesn't charge any fees for withdrawals or deposits. It's totally free, but the minimum deposit required with XM is just $5, with the exception of share accounts. For Shares Accounts, the minimum amount to deposit can be as high as $10,000.
XM doesn't charge any commission , except for Shares Trading. They earn profit from spreading and swap fees.
Commission for Shares in the United States is 0.04 percent per share, with a minimum of $1 Commission per transaction. For UK Shares, It's 0.10 percent per share, with a minimal $9 of commission for each transaction. And for German Shares, It's 0.10 percent commission per transaction, and an average of $5 commission per transaction.
Customer Support XM
XM customer support is among the more enjoyable customer service experiences we've had in comparison to other forex brokers. XM offers live chat support 24 hours a day, as well as basic email and phone assistance.
We were able to chat via live chat very fast, that's an impressive achievement. In addition, the broker provides assistance to customers in 26 different languages.
Pros and Pros and XM
Pros
- A low stock CFD and withdrawal charges.
- Quick and simple process of account opening
- Customer support that is responsive
- Low minimum deposit
Cons
- Limited product portfolio
- Average stock index and forex CFD fee
If you want to give it a try with XM, you can use the link below:
Alternative Forex Brokers for Thailand
4. eToro
eToro is a trading platform made to cater to Thailand traders. The company has 10 million active users and is simple to start with thanks to their unique interface.
The powerful trading tools of eToro will assist you in finding the top brokers to replicate and then trade profitably.
image credit: eToro
eToro Regulations
eToro is regulated by different regulators from around the world:
Cyprus: eToro Europe is regulated by the Cyprus Securities & Exchange Commission (CySEC) with license number 109/10.
United Kingdom: eToro (UK) Ltd is authorized and regulated by Financial Conduct Authority (FCA) Company reference number 583263.
Australia: eToro AUS Capital Pty Ltd is licensed by the Australian Securities and Investments Commission (ASIC) to offer finance services in accordance with the Australian Financial Services License, license number 491139.
USA: eToro USA is operated by eToro USA LLC, registered with FinCEN.
eToro Products
They include 49 Currency pairs They have 32 Commodities 13 Indices, 2711 stocks, 264 EFTs and 51 Cryptocurrencies. They have symbols that can be traded (Total) 3056.
eToro Trading Platforms
They don't possess MT4 and MT5 but they have a private Platform along with a Web platform and mobile application.
Cost of eToro
The minimum deposit for eToro could be between $100 to $200.
eToro doesn't charge any fees for deposits. However, fees for withdrawals are $5. If you withdraw funds in other currencies than USD the customer is susceptible to conversion fees. In the case of wire transfers, eToro deposits are instant. The time required for withdrawals varies based on the payment method that is used.
The spreads can start at just 1 pip. In Thailand they offer leverage of 1:30 on forex pairs.
eToro Customer Support
They provide outstanding customer support through email, phone or call-back in addition to live chat via the internet.
Pros and Cons of eToro
Pros
- Trade in ETFs or stocks can be absolutely free.
- Opening a new account effortlessly
- One of the top social trading platforms
- A minimum amount is required to open an account and begin investing.
Pros
- The quality of customer service has to be enhanced.
- The base currency of the account is not the only one.
- Costly non-trading fees
If you want to give it a try with eToro, you can use the link below:
5. AvaTrade
Next Thailand forex broker is AvaTrade. AvaTrade was established in 2006. Avatrade has proven itself to be an industry leader in the financial sector online and has a long history of customer satisfaction.
image credit: AvaTrade
AvaTrade Regulations
AvaTrade has been licensed by and monitored by various regulatory authorities across the globe:
Ireland as well as Cyprus: Avatrade is regulated by the Central Bank of Ireland and Cyprus Securities and Exchange Commission in Europe.
Poland: AvaTrade is regulated by the Polish Financial Supervision Authority.
Australia: AvaTrade is regulated by ASIC in Australia.
The Global AvaTrade has been supervised by the British Virgin Islands Financial Services Commission for its global operations.
Japan: AvaTrade is regulated by the Financial Services Agency and Financial Futures Association of Japan in Japan.
Middle East: AvaTrade is subject to the supervision of Financial Regulatory Services Authority (FRSA) for the Middle East
Israel: AvaTrade is regulated by the Israel Securities Authority in Israel.
AvaTrade Trading Platforms
The broker provides a variety of trading platforms that are manual that include a well-known MetaTrader 4. MetaTrader 5 WebTrader, AvaOptions for options trading as well as AvaTradeGo for trading on the go.
Automated trading is supported by DulpiTrade as well as ZuluTrade.
AvaTrade Products
They provide a range of over 55 Forex pairs, Options on 55 Forex pairs, 14 cryptocurrency, stocks CFDs of large corporations across the world, ETF, Bonds, Indices and Commodities. Spreads for brokers begin at zero and leverage could be as low as 1:400.
Costs of AvaTrade
AvaTrade is free of fees or charges on transactions or trades. Profits are earned through swaps and spreads derived in the trading itself.
The minimum deposit amount is 100 dollars in your base currency.
When you withdraw funds to credit cards or E-wallets, the minimum amount is one base currency for the account. When making a bank transfer withdrawal, the minimum amount is 100 base currencies.
AvaTrade Customer Support
The broker offers live chat support via chatbot and live agent. They also provide WhatsApp support and phone support available 24 hours a day. I've checked their chat live. They are extremely prompt in responding.
Pros and Pros and AvaTrade
Pros
- A broad range of instruments are offered that include Cryptocurrencies, Stocks, Commodities.
- Multi-platform trading platform including the highly acclaimed AvaTradeGO application.
- AvaTrade is a partner with EAs
- They are competitive in spreads and leverage
- The client's funds are stored in separate accounts for more security.
- AvaTrade is licensed in Europe, Australia, Japan, British Virgin Islands, UAE and South Africa.
- Customer support is very quick to respond.
Cons
- AvaTrade does not provide services to Belgium, Brazil, Democratic People's Republic of Korea (DPRK), New Zealand, Turkey, USA.
- Support by phone is not available 24/7 and 7 days a semaine.
If you'd like to try it using AvaTrade You can do so by clicking the following link:
Best Forex Brokers in Thailand 2024
Is Forex Trading Legal in Thailand?
The short answer is yes, Forex trading is legal in Thailand. The Bank of Thailand (BoT) regulates the Thai Forex market and there are no restrictions on currency pairs or margin requirements. However, there are a few things to be aware of before you start trading in Thailand.
First, all Forex brokers in Thailand must be licensed by the BoT. There are only a handful of licensed brokers in Thailand, so make sure you choose one that is reputable and has a good track record.
Second, Thai law requires that all Forex trades go through a licensed broker. This means that if you're using an international broker, you'll need to have your account registered with the BoT.
Lastly, make sure you're familiar with the Thai tax laws before you start trading. Forex trading is considered gambling in Thailand and is subject to a 35% tax.
If you're looking to start Forex trading in Thailand, be sure to choose a reputable broker and familiarise yourself with the Thai tax laws. With a little research, you can find everything you need to start trading in this beautiful country.
Conclusion
Forex trading can be a profitable venture for those who understand the market and have the patience to wait for the right trades. The best forex brokers in Thailand provide a variety of features that make it easy for traders to execute their strategies, including low spreads, fast execution, and ample educational resources. We’ve highlighted some of our favorite brokers here, but we want to hear from you. Which brokers do you like the most? Let us know in the comment section below. Thanks for reading!
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