Best Forex Brokers in Thailand

Thai trader or not, if you’re looking for the best forex brokers in Thailand you might be 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 ThailandWhether your trading adventure hasn’t begun yet or you still have doubts on 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 ThailandUsually, retail investors will find leverage all the way up to 1:500, something which we’re certain that will delight traders with a more aggressive style. How to Choose the Right Brokers in ThailandIn 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 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 instrumentsAccordingly, some will suit copy traders while others will delight those looking for the tightest spreads. Best Forex Brokers in ThailandXMXM 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 supportHotForexHotForex established itself in 2010 and given their regulations it is no surprise how easily it became Thailand’s most trusted forex broker. In fact, HotForex 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), and the Financial Sector Conduct Authority (FSCA).Minimum deposits can range between $5 and $300 depending on which account you choose. In what concerns leverage you’ll be met with a maximum leverage of 1:1000. As for the minimum spread, you can count on 0.1 EUR/USD.HotForex also features over 1000 trading instruments, meaning that this broker goes above and beyond in delivering viable, reliable trading solutions to their clients.Customer service is also top priority at HotForex 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.HotForex Features:· Regulation: FCA, CySEC, FSA, DFSA, CMA, FSCA· Leverage: 1:1000· Minimum spreads: 0 (zero spread account)· Minimum deposit: $5· Trading platforms on offer: MT4, MT5· Benefits: Different accounts tailored to different trading stylesIC MarketsFounded in 2007, IC Markets is known for its reliability and incredibly tight spreads. IC Markets has since become the largest Forex CFD broker in world.It did so by bridging the gap between retail investors and institutional clients via offering a trading solution which was previously only available to a select few group 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 has 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 FXTMFXTM 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 their 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: 0.3pips· Minimum deposit: $10· Trading platforms on offer: MT4, MT5.· Benefits: Research and educational materialseToroeToro is quickly becoming known as the home of copy traders. This broker prides itself of its copy trading capabilities and with traders from over 140 countries to follow it is sure living up to its name.At eToro Thailand’s forex traders won’t see additional fees being charged for copying other traders, meaning that it’s a great opportunity to copy others while learning to trade on their own.Moreover, passive investing is another great feature in which your money can do the work for you. With eToro, traders can also find room for diversification as the broker has cryptocurrency investing at the ready. eToro Features:· Regulation: FCA, ASIC, MiFID, CySEC· Leverage: 1:30· Minimum spreads: 1 pip· Minimum deposit: $200· Trading platforms on offer: cTrader, Android+iOS, Windows+Mac OS· Benefits: Copy trading, earning up to 2% management fee is possibleWrapping up: Q&ACan I trade forex in Thailand? (Is it legal to trade forex?)Following 2017’s change in regulatory environment, namely through the Central <a href=”https://www.bot.or.th/English/Pages/default.aspx”>Bank of Thailand</a>, and <a href=”https://www.sec.or.th/EN”>Thailand Securities and Exchange Commission</a>, 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.What is the best time to trade forex in Thailand?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 2am to 5am: overlaps with the last 2 hours in NYC’s trading session and Sydney’s first hour of trading· From 7am to 8am: overlaps with the first hour of Tokyo’s trading session· From noon to 1pm: overlaps with the last hour in Sydney’s trading session· From 2pm to 4pm: manages to overlap with the first two hours in London and the last one in Tokyo’s trading sessions· 7pm to 11pm: overlaps with the first two hours of trading in NYC and the last two in London.What is the best trading platform in Thailand?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 in all the pros and cons and find the optimal trading solution for him or herself.To sum upForex 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 staring 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.

This article was written by Finance Magnates Staff at www.financemagnates.com.