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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.
Kane Pepi
Author: Kane Pepi
Last Updated: 19 June 2020

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.

On this Page:

    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.

    Our Recommended Forex Broker 2020

    • Social and Copy Trading Offered
    • Trade Forex, CFDs, Stocks, Crypto and More!
    • $200 Minimum Deposit
    • Accepts Paypal Deposits
    75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    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.

    2. Plus500 - Offers Extensive Technical Tools

    Much like in the case of eToro, Plus500 gives you access to dozens of forex pairs on a commission-free basis. Although spreads are not overly competitive at 1.9 pips, this is still reasonable when you factor in the avoidance of commission. Plus500 was first launched in 2008 and it has since amassed a highly trusted reputation in the brokerage space.

    On top of being listed on the London Stock Exchange, the firm holds licenses with the FCA, ASIC, MAS (Singapore) and CySEC. The end-to-end process of opening an account, depositing funds, and verifying your identity takes no more than 10 minutes, and you can get started with a deposit of just $100. The platform supports a number of convenient payment methods, including a debit card, credit card, Paypal, and a bank transfer.

    You will have access to a fully-fledged demo account if you want to start off with paper-money. Although neither MT4 or MT5 are supported by Plus500, the platform does offer a native mobile app. This allows you to trade on the move - as long as you have an Android or iOS device. Finally, Plus500 hosts thousands of CFD products if you want to diversify your portfolio. This includes stocks and shares, energies, interest rates, metals, and ETFs.

    Assets: Forex, CFDs, Spread Betting

    Demo Account: Yes

    Educational Material: No

    Fees: $10 Inactivity Fee, $0 withdrawal fees

    Minimum deposit: $100

    MT4/MT5: No

    Special Features: 2,000 trading instruments

    Regulation: CySEC, FCA, ASIC, MAS

    Payment methods: Credit/debit card, Paypal, Bank transfer

    • Minimum deposit of $100
    • Over 2,000 trading instruments
    • Mobile app available
    • No education material
    • Not suitable for beginners
    AFSL 491139. High risk to capital.

    3. FXCM - Offers Extensive Technical Tools

    FXCM is a Thailand forex broker. It gives its users access to numerous instruments in several markets like indices, bonds, commodities, precious metals, stocks, CFDs and more than 39 currency pairs. It is regulated by ASIC and the Financial Conduct Authority (FCA).

    FXCM account offers free demo accounts that new Thai forex traders can use to familiarize themselves with the platform. FXCM’s trading station is an online forex trading platform that has web-based, desktop and mobile versions. Expert Thai forex brokers can make use of the MT4 trading platform to develop their own scripts and indicators.

    The account opening process at FXCM is simple and straightforward, and there is no minimum balance requirement. The minimum deposit required is 1,600 TBH ($50). Also, this Thai forex broker charges no withdrawal fees for debit and credit cards, but bank transfers may incur fees of up to 1,300 TBH ($40). On FXCM, there are different leverage levels based on a Thai trader’s experience and account funds. New traders have a default 50:1 leverage which can rise to 200:1 on CFDs and FX.

    Lastly, FXCM allows Thai traders to successfully trade with the help of trading tools such as an economic calendar, liver forex charts, market scanner, Islamic account, segregated account and market data signals.

    Assets: Cryptocurrencies, Stocks, Metals, bonds, precious metals, CFDs, Indices.

    Demo Account: Yes

    Educational Materials: Detailed educational materials for both new and experienced traders

    Fees: Bank Transfer Fees up to 1,300 TBH ($40), Up to 1,600 TBH ($50) per year Inactivity Fee, No Deposit Fee, No Account Fee, No Withdrawal Fee

    Minimum Deposit: 1,600 TBH ($50)

    MT4/MT5: MT4 only

    Special Features: Market Scanner, Automated Trading, Scalping, Live Forex Charts

    Payment Methods: Credit Card, Bank Transfer, ACH, Paper Check

    Regulation: CFTC, NFA, RFED, FCM

    • Great technical research tools
    • Informative educational content
    • Hassle-free account opening process
    • Limited product portfolio

    4. FBS - Offers Up To 1:3000 Leverage

    FBS has introduced its trading platform to the world of forex trading in 2009 and now boasts a presence in over 120 countries, including Thailand. Its operations are regulated by the International Financial Services Commission. It offers more than 30 forex pairs, CFDs, stocks as well as metals like gold and silver.

    It offers five different live account types to cater to Thai forex traders who love to keep their risks to a minimum as well as those who are ready to invest big. FBS also caters to traders who prefer to risk no money by offering them a demo account. It offers the MT4 and MT5 trading platforms that can also be accessed using a mobile phone.

    At FBS, the maximum leverage that you can get on forex stands at 1:3000, which is a lot higher than what most forex brokers offer. Deposits on FBS are almost entirely free. Also, Thai forex traders are only charged a 2.5%+$0.3 when they use SticPay as their deposit method. The minimum deposit starts from 31 TBH ($1) to 31,000 TBH ($1000) depending on your preferred trading account.

    Assets: Cryptocurrencies, Stocks, Metals, bonds, precious metals, CFDs Indices.

    Demo Account: Yes

    Educational Materials: Detailed educational materials for both new and experienced traders

    Fees: Up to 2.5%+$0.3 Deposit Fee, No Deposit Fee, No Account Fee, No Withdrawal Fee

    Minimum Deposit: 31 TBH ($1)

    MT4/MT5: Yes

    Special Features: EAs/Robots, Scalping, News Spike Trading

    Payment Methods: Credit Card, Bank Transfer, ACH, Paper Check

    Regulation: IFSC, CySEC

    • Negative balance protection
    • High leverage up to 1:3000
    • Low commissions and spreads
    • Not FCA regulated

    5. Forex.com - FCA Regulated Forex Broker

    Forex.com is a global CFD and global FX broker regulated by the Commodity Futures Trading Commission (CFTC) and the Financial Conduct Authority (FCA).

    It offers more than 4,500 CFD instruments on its flagship platform. This Thai forex broker offers CFD trading on assets like indices, cryptocurrencies, shares, forex and commodities.

    Forex.com includes a margin calculator on its site where you can find out what leverage ratio you`ll get depending on your account type. It charges an inactivity fee of 475 TBH ($15) per month if you do not open any trade positions for one year. The minimum initial account deposit on Forex.com is 50 units of your account’s base currency.

    One of the most exciting aspects of Forex.com is its research and education offerings. Thai forex traders can use its native research tools, watch live webinars and read its multi-level trading education courses for free.

    Assets: Cryptocurrencies, Stocks, Shares, Commodities, CFDs, Indices

    Demo Account: Yes

    Educational Materials: Detailed educational materials for both new and experienced traders

    Fees: Inactivity Fee of 475 TBH ($15) per month, No Deposit Fee, No Account Fee, No Withdrawal Fee

    Minimum Deposit: 1,600 TBH ($50)

    MT4/MT5: MT4 only

    Special Features: Native Research Tools, Live Webinars, Multi-level trading education courses

    Payment Methods: Credit Card, Bank Transfer, Electronic bank transfer wire, wire, eCheck, PayPal

    Regulation: FCA, CFTC

    OUR RATING

    • Extensive educational and research tools
    • Easy-to-navigate platform
    • No deposit and withdrawal fees
    • Limited customer support options

    6. AVATrade - Forex Broker with Multiple Regulatory Licenses

    AVATrade is a hugely popular on forex and CFD platform that gives you access to more than 50 currency pairs. Not only does this include popular pairs like GBP/USD and EUR/USD, but a range of exotic currencies, too. The platform accepts clients from Thailand, so you'll benefit from super-competitive spreads.

    This includes a rock-bottom price of 0.9 pips on EUR/USD during standard market hours. You only need to deposit $100 to get started, and you can fund your account with a debit/credit card or bank wire. There are no fees to fund your account, nor to cash out. You will, however, need to pay a monthly inactivity fee is your account becomes dormant.

    When it comes to trading, you'll get to choose from globally recognized platforms MT4 and MT5. You also trade via the AVATrade mobile app which is crucial if you need to exit a position when out of the house. Finally, AVATrade holds a full host of regulatory licenses. This includes bodies in Japan, Canada, South Africa, and Japan.

    Assets: Forex, thousands of CFDs, cryptocurrencies

    Demo Account: Yes

    Educational Material: No fundamental news or trading ideas, but trading calculator provided

    Fees: 0.9 pips on most major pairs, no withdrawal fee, monthly inactivity fee

    Minimum deposit: $100

    MT4/MT5: Both

    Special Features: Pricing alerts and notifications

    Regulation: Licenses in Ireland, Japan, South Africa, British Virgin Islands

    Payment methods: Credit/debit card, Bank wire

    • Spreads from just 0.9 pips
    • Multiple licenses
    • Both MT4 and MT5 supported
    • No research features
    • Does not offer 2FA login
    • Only 56 forex pairs supported

    7. IG - Forex Broker With Super-Low Fees

    IG is one of the most recognized forex and CFD platforms in the global brokerage arena. First and foremost, with the company first opening its doors back in 1974, you'll be entrusting your funds with a highly experienced broker. This is further supported by the platform's regulatory licenses. Such licenses include the FCA ASIC, MAS, and BaFin.

    When it comes to fee, IG allows you to trade major pairs at spreads of just 0.6 pips. Furthermore, you won't be required to pay any commission when you trade forex, so IG is ideal if you'll looking for a Thailand broker that offers super-low fees. On the flip side, you will need to pay a 1% transaction fee when depositing funds with Visa, and 0.5% with MasterCard.

    You will also need to meet a $300 minimum deposit amount. If you can, you'll benefit from a trading arena that hosts 17,000 financial instruments. On top of forex, this includes CFDs in the form of stocks, ETFs, commodities, cryptocurrencies, and more. Finally, not only does IG host MT4, but its research and analysis department is industry-leading.

    Assets: Forex, Indices, Cryptocurrencies, Shares, Commodities

    Demo Account: Yes

    Educational Material: First-grade research department, fundamental news, technical analysis brokerage analysis

    Fees: 0.6 pips on EUR/USD and AUD/USD, no commissions on FX trading, deposit fee of 1% (Visa) and 0.5% (MasterCard)

    Minimum deposit: $300

    MT4/MT5: MT4

    Special Features: Minute-by-minute analysis, instant account activate for Singapore citizens

    Regulation: MAS, FCA, BaFin, ASIC

    Payment methods: Credit/debit card, Bank wire

    Our Rating

    • Spreads from just 0.6 pips
    • Regulated by MAS
    • Instant account activation for Singapore citizens
    • 1% deposit fee on Visa cards
    • MT5 not supported
    • MT5 not supported

    8. 24 Option - Spreads From 0.2 Pips on Major Forex Pairs

    If you're an experienced investor that finds yourself trading larger volumes, then keeping your trading costs to a minimum is crucial. If this is the case, we would suggest checking out the merits of 24Option. Although the forex and CFD broker is based in Cyprus and regulated by CySEC, it accepts traders from Thailand.

    By opening an ECN account - which requires a minimum deposit of $500, you will able to trade major pairs like EUR/USD at a spread of just 0.2 pips. This is even more competitive than IG. If $500 is too much for you, then other account options allow you to deposit just $250, albeit, spreads will be higher.

    Regardless of what account type you open at 24Option, you will have access to MT4, as well as a fully-fledged mobile application. When it comes to deposits, you can choose from a debit/credit card or bank statement. In term of non-trading fees, you will need to pay a whopping 3.5% when using a credit card, and 2% via Skrill. Finally, all research materials at the broker are provided by third-party platform Trading Central.

    Assets: Forex, CFDs in the form of stocks, indices, commodities, cryptocurrencies

    Demo Account: Yes

    Educational Material: Trading Central's research tool

    Fees: 0.2 pips on major pairs like GBP/USD, withdrawal fee of 3.5% (credit cards) and 2% (Skrill)

    Minimum deposit: $250

    MT4/MT5: MT4

    Special Features: Free mobile trading app via Google Play and Apple Store

    Regulation: CySEC

    Payment methods: Credit/debit card, Bank wire

    • Spreads from just 0.2 pips
    • Great forex research tools
    • MT4 supported
    • Minimum deposit of $250
    • Does not support Paypal
    • Only regulated by CySEC

    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.

    Our Recommended Forex Broker 2020

    • Social and Copy Trading Offered
    • Trade Forex, CFDs, Stocks, Crypto and More!
    • $200 Minimum Deposit
    • Accepts Paypal Deposits
    75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

    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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    Remember, all trading carries risk. Past performance is no guarantee of future results.
    Kane Pepi

    Kane holds academic qualifications in the finance and financial investigation fields. With a passion for all-things finance, he currently writes for a number of publications in the online space.

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