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Best Thailand Forex Brokers for 2020

Based in Thailand and wish to trade forex online? If so, read our guide to find out the best Thailand forex brokers of 2020.
Thailand
Thailand

If you’re based in Thailand and you wish to trade forex online, you might be under the impression that brokers prohibit traders from your country. This is because popular trading sites are often blocked when you attempt to access them from a Thailand IP address.

However, the fact of the matter is that heaps of forex brokers are happy to accept traders from Thailand. With that said, you might need to use a VPN to access your chosen platform.

Nevertheless, in this article we explore the best five Thailand forex brokers currently active in the market. We discuss key metrics such as regulation, fees, commissions, spreads, leverage, and research tools.

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    Our Recommended Thailand Forex Platform

    Don’t have time to read through our guide in full and instead want to start trading forex right now? If so, you’ll find our top-rated forex trading platform listed below. The broker in question not only accepts traders from Thailand, but it also offers tight spreads, low commissions, and lots of supported payment methods. Simply click on the link below to go straight to the broker’s website and upon opening an account – you’ll be trading in less than 10 minutes.

    eToro - Our Recommended Forex Platform

    Our Rating

    eToro exchange
    • CySEC, FCA & ASIC regulated
    • Millions of Users Trading Forex, Crypto, Commodities, Stocks, ETFs
    • Free Demo Account
    • Deposit via Debit or Credit card, Bank wire, Paypal, Skrill, Neteller
    • Copytrade Winning Forex Traders - 83.7% Average Yearly Profit
    eToro exchange
    68% of retail investor accounts lose capital when trading CFDs with this provider. Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

    Best Thailand Forex Broker Sites of 2020

    Below we discuss our top five Thailand forex broker picks of 2020. We were required to research hundreds of platforms in order to get our list down to just five, so rest assured that these are the best performing brokers currently in the market. All of our recommended forex brokers are heavily regulated, offer dozens of forex pairs, and facilitate highly competitive spreads.

    Note: Top-rated forex brokers typically do not offer accounts in Thai baht. Instead, your account will be denominated in a currency like the US dollar. As such, all of the account minimums, fees, and commission-rates listed below are in USD.

    1. eToro - Forex Broker with $200 Minimum Deposit

    eToro is our top-rated Thailand forex broker for a number of reasons. First and foremost, the platform is ideal if you are still finding your feet in the online forex space, not least because it is tailored to newbies. As such, it takes minutes to open an account and the process of buying and selling currencies couldn't be easier. You will need to deposit at least $200 to get started, although once you do you can then trade super-small amounts.

    Deposits and withdrawals can be made to and from a debit/credit card, e-wallet, or international bank wire. eToro takes regulation seriously, with the platform now holding three major licenses. This includes the FCA (UK), ASIC (Australia), and CySEC (Cyprus). When it comes to trading, eToro lists dozens of currency pairs. You'll be able to trade all majors and minors, and a good selection of exotics, too.

    In even better news, eToro does not charge any trading commissions in the forex department, so the only fee that you will pay is via the spread. Finally, eToro allows you to engage in automated trading via it Copy Trading feature. Simply choose which investors you want to copy - alongside your preferred stake, and eToro will take care of the rest.

    Assets: Cryptocurrencies, Stocks, CFD, Forex, ETFs, Commodities

    Demo Account: Yes

    Educational Material: Great educational material for both beginners and advanced traders

    Fees: $5 Withdrawal Fee, $5 Inactivity Fee, No Account Fee, No Deposit Fee

    Minimum deposit: $200

    MT4/MT5: No

    Special Features: Copy trading and social trading site

    Regulation: CySEC, FCA, ASIC, MiFID

    Payment methods: Credit/debit card, Paypal, Sofort, Rapid transfer, Skrill, Wire transfer, Neteller, WebMoney, UnionPay

    Our Rating

    • Social trading leader
    • Best mobile trading site
    • Paypal accepted
    • Limited technical analysis tools
    • Not well-suited for the more advanced investor
    AFSL 491139. High risk to capital.

    How to Choose a Forex Broker in Thailand

    If you like to apply your own due diligence before joining a forex broker, there are a range of factors that you need to look out for. Crucially, you need to think about what your priorities are. For example, are you looking for a broker that supports your preferred payment method, or is your main priority low fees and tights spreads?

    Either way, be sure to review the following factors prior to joining a new platform.

    • VPN Requirements

    As we briefly noted earlier, a number of leading forex brokers cannot be accessed on a Thailand IP address, even though the brokers in question accept Thai traders. As such, you will need to use a VPN. If you do, we would advise you to stick the same IP location whenever you sign in. Otherwise, it might look suspicious if you log in from a different country every time you access your account!

    • Licensing

    Regulation is absolutely crucial when choosing a Thailand forex broker. As you’ve likely noticed from our recommended platforms, brokers are typically licensed by tier-one bodies. This includes the likes of the FCA, ASIC, MAS, and CySEC. Just make sure your chosen broker holds at least one license before opening an account.

    • Forex Pairs

    You then need to explore the broker’s forex department to assess what currency pairs it supports. Forex brokers usually cover all major and minor pairs, and a number of exotics. However, if you’re looking to trade less liquid currency pairs, check to see if the broker lists it before signing up. 

    • Payment Methods

    Have you thought about the specific payment method that you plan to use to deposit funds at your chosen broker? While most online platforms will offer support on both debit/credit cards and bank wires, not all brokers accept e-wallets or local bank transfers. Be sure to check this.

    • Spreads

    The spread is the difference between the buy and sell price of an asset, and it has a direct impact on how much you pay in fees. Some of the most competitive brokers in Thailand offer spreads of below 1 pip on major pairs, and slightly more on majors. As such, choose a broker that offers tight spreads.

    • Commissions

    Some Thailand forex brokers will charge you a fee every time you place a buy and sell order. This is known as a trading commission. If there is a charge, you’ll pay a percentage fee against your total trade size. For example, if the broker charges 0.5% and your trade amounts to $50, you’ll pay a fee of $0.25.

    • Trading Tools and Research

    Using a forex broker that offers heaps of trading tools will allow you to assess the markets with precision. Not only should this include technical indicators like Bollinger Bands and the RSI, but real-time fundamental news, too.

    • Customer Support

    Be sure to explore what the customer department is like at your chosen Thailand forex broker. This should include the specific hours that the support team works, and the types of support channels available. Live chat is always the most convenient way to speak with an agent, so check if it’s offered. 

    Leverage at Thailand Forex Brokers

    If you’re looking to apply leverage to your forex trades, you’ll be pleased to know that there are no caps or restrictions in place for Thai residents. As such, even if you are using an EU-based broker like Plus500, you won’t be limited by the regulations imposed by ESMA – which caps leverage on major and minor pairs to 25:1 and 20:1, respectively.

    With that being said, you won’t be able to trade on unlimited leverage, so the broker in question will determine how much to give you. Most tier-one platforms cap this at 30:1 if you are a retail trader. Limits will then be increased gradually once the broker feels confident that you understand the risks.

    Conclusion

    By reading our in-depth guide you should now know which Thailand forex broker best meets your long-term trading requirements. We’ve covered five of the best brokers currently active in the space – all of which are heavily regulated, offer super-low spreads, and support heaps of payment methods.

    If you want to research your own broker on a DIY basis, we’ve also presented some handy tips to help you along the way. Just remember, you might need to use a VPN to access your chosen site, not least because a number of brokers are blocked when you try to access them in Thailand.

    eToro - Our Recommended Forex Platform

    Our Rating

    eToro exchange
    • CySEC, FCA & ASIC regulated
    • Millions of Users Trading Forex, Crypto, Commodities, Stocks, ETFs
    • Free Demo Account
    • Deposit via Debit or Credit card, Bank wire, Paypal, Skrill, Neteller
    • Copytrade Winning Forex Traders - 83.7% Average Yearly Profit
    eToro exchange
    68% of retail investor accounts lose capital when trading CFDs with this provider. Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

    FAQs

    Are Thailand forex brokers safe?

    Yes, as long as it holds a tier-one license. This should be issued by a regulator based in countries like the UK (FCA), Cyprus (CySEC), Singapore (MAS) and Australia (ASIC).

    What leverage limits do Thailand forex brokers offer?

    There are no limits per-say for traders based in Thailand. As such, the specific caps will vary from broker-to-broker. Most platforms will give you leverage of up to 30:1 when you first sign up, although some offer even more.

    Do I need to use a VPN to trade forex in Thailand?

    In some cases, yes. Some of the best forex platforms in the space are blocked when you try to access them from a Thai VPN, although this isn't to say you can't trade. On the contrary, most of these brokers do accept Thai residents, so you'll need to use a VPN.

    What is the minimum deposit amount at Thailand forex brokers?

    Some Thailand forex brokers allow you to deposit from just $100.

    What payment methods do Thailand forex brokers support?

    You'll likely get to choose from an e-wallet like Paypal, Visa, MasterCard, Maestro, or a bank transfer.

    Forex brokers by country

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