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Best Vietnam Forex Brokers 2020

Looking to trade forex in Vietnam? Check out our guide below to know the best Vietnam forex brokers you can choose from.

Are you residing in Vietnam and looking to try forex trading? If yes, then the primary and one of the most important things you need to do is find a legitimate forex broker that accept Vietnamese local traders.

Check out our detailed guide below to learn more about the best forex brokers in Vietnam, the kind of services they offer, their fee structures, spreads or commissions they charge, the leverage limits they give and a lot more that can assist you in identifying the most appropriate forex broker for your needs.

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    Our recommended Vietnam forex broker

    We’ve carefully examined all the specific features of the top forex brokers available in Vietnam. We concluded that the forex broker below offers the most user-friendly and robust trading platform.

    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 Vietnam Forex Broker Sites of 2020

    The following are the five most recommended forex brokers in Vietnam. They all offer reliable and safe forex trading platforms which means that your money will always be in safe hands.

    1. eToro - Forex Broker with $200 Minimum Deposit

    Started in 2007, eToro is a famous social trading platform. Its copy trading functionality assists new traders in copying the exact trades made by the platform’s most skillful traders. Having a top-notch broker like eToro is crucial to your success in online forex trading.

    Also, eToro is a completely secure platform as it is checked and regulated by Cyprus Securities and Exchange Commission (CySEC) and Financial Conduct Authority (FCA).

    It only takes a few minutes of your time to open account on eToro. Enter your name, email address and password to get started on eToro. You will also be given an option to connect via your Facebook or Google account in order to make the account creation procedure much quicker.

    Furthermore, the identity verification practice, which is called the Know Your Customer (KYC) process, is completely automated so it will only take almost 24 hours to verify your account.

    In addition to forex, you can also trade stocks, cryptocurrencies, ETFs, commodities and CFDs on eToro. One of the things that you’ll like about eToro is that it doesn’t charge any commission fee from its clients. This means you will only be charged through the fixed spreads.

    So, what are you waiting for? Get your eToro account today and start forex trading now!

    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 platform
    • Best mobile trading site
    • PayPal accepted
    • $25 withdrawal fee
    AFSL 491139. High risk to capital.

    How to Join a Vietnam Forex Broker in 2020

    Below is an in-depth tutorial that will guide you on how you can successfully open your account, verify your identity, deposit cash and trade major forex pairs within less than 20 minutes.

    Step 1: Choose a forex broker that accepts Vietnamese traders

    There are numerous forex brokers that you can quickly access online. However, only some of them accept Vietnamese traders.

    Ensure that you check first the “Supported countries” section of your chosen forex broker’s site to check whether Vietnam is included in its list. In case you don’t see it there, then you will have to search for another forex broker.

    Another significant thing that you have to consider is whether or not your chosen forex broker is regulated. If your forex broker is based abroad, it must be regulated by big financial authorities such as CySEC, FCA, ASIC and MAS.

    Other things that you have to consider are the broker’s commission rate, spreads, ease of use of its trading system, supported payment payments and many more.

    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.

    Step 2: Open an Account and Verify Your Identity

    While opening an account, you’ll need to provide the following important information in order to create your account.

    • First and last name
    • Email address
    • Password
    • Phone number
    • Home address
    • Date of birth

    In order to verify your identity, you’ll have to upload a picture or a scanned copy of your government-issued ID such as your driver’s license and passport. Other forex broker sites may also require you to send a proof your address. In order to verify your location, you will have to upload an image or duplicate copy of your electricity bill or telephone bill to prove your address.

    Step 3: Deposit Funds

    Before depositing your funds, first of all, check the minimum amount of deposit required. If you’re a beginner trader, it’s highly suggested that you only send the minimum deposit amount so you can try forex trading without risking a lot of money.

    Some of the supported deposit payment methods are the following:

    • Visa debit/credit card
    • MasterCard debit/credit card
    • Maestro debit/credit card
    • PayPal
    • Skrill
    • Neteller
    • Bank transfer
    • Web Money
    • Union Pay

    Step 4: Trade Forex

    Once your deposit shows up in your trading account, you can now buy and sell any currency pair. In case you are still new to trading, do not make leverage. Only use leverage once you’re confident enough that you can manage the art of trading well.

    In order to place a trade, you’ll need to fill out an order.

    • Select if you want to make a ‘Buy or sell order’
    • Enter the amount you want to trade
    • Decide if you will apply leverage or not
    • Select if you want to utilize a limit order or a market order
    • Input the take-profit trigger price and determine the stop-loss

    Note: Forex trading is a high-risk investment arena. Unless you have extensive experience of buying and selling currencies online, you might be best to start out with small amounts until you get more comfortable.

    How to Choose a Vietnam Forex Broker

    If you are still not sure which forex broker to sign up for, you should read the following list of the main factors you need to consider when choosing a Vietnam forex broker.

    • Licensing

    The forex broker you select should be controlled by at least one top financial authority in the world. The top-tier forex brokers are typically regulated by the ASIC, CySEC or FCA.

    By selecting a regulated and licensed forex dealer, you can be assured that your money and account information will be in safe hands.

    • Forex pairs

    The greater the number of available forex pairs, the better forex trading experience you will get. Both major and minor forex pairs must be fully supported by your chosen forex broker. Similarly, make sure that your chosen currency pairs are part of the list of available forex pairs.

    • Payment methods

    It must be easy to deposit and withdraw money. It’s extremely recommended that your selected forex broker includes credit/debit card, bank transfer and PayPal in its list of supported payment methods.

    • Spreads and Commission

    Nearly all forex brokers charge spreads. Most of them don’t charge commission fees but some still do. The spread means the difference between the buy and sell price of a currency pair, and it is measured in pips.

    Your chosen forex broker must also offer tight spreads so that you can minimize the fees you need to pay. The commission fee some brokers charge could be a small percentage of the trade value. For example, if the commission fee is 1%, and the value of the trade is $1,000, then you will have to pay $10.

    • Trading tools

    A good forex broker must offer you trading analysis tools like the RSI, trading articles, Fibonacci Retracement, expert tips and video tutorials.

    • Customer support

    It’s recommended that you pick a forex broker that is able to assist you with a problem right away. Many well-known forex brokers offer online, round the clock chat support while others ensure that they always reply via email within a few hours after you send them an inquiry.

    Leverage at Vietnam Forex Brokers

    Contrary to European traders, Vietnamese traders are not limited by the leverage limit enforced by the European Securities and Markets Authority (ESMA). European traders are only able to make a 25:1 leverage on major forex pairs and 20:1 leverage when it comes to minor and exotic pairs.

    Traders in Vietnam can apply a leverage of up to 10000:1. If you wish to trade $1000 and utilize a 10000:1 leverage option, then you could effectively be trading with $1,000,000. Nonetheless, you must not use a 10000:1 leverage or even a 50:1 leverage if you’re a beginner trader because a single wrong trade can make you lose all your money.

    Conclusion

    After knowing the top forex brokers available for Vietnamese traders and some guidelines on how you can determine which forex broker can suit your trading needs, it is now the perfect time to create a forex trading account and start trading.

    Lastly, if you are a newbie, remember to only trade what you can afford to lose. Have fun trading!

    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 Vietnamese forex brokers safe?

    Yes. Vietnam forex brokers such as the ones described above provide trustworthy and secure trading platforms for Vietnamese traders. They are also regulated top-tier financial authorities all over the world, which means they are completely legitimate.

    What leverage limits do Vietnamese forex brokers offer?

    Vietnamese traders can apply a leverage up to 10000:1.

    Should I join a commission-free Vietnamese forex broker?

    Yes. If you find a forex broker with a completely reliable and safe trading platform offering commission-free trading, then you should definitely sign up on such brokerage firm.

    What is the minimum deposit amount available at Vietnamese forex brokers?

    Forex.com only requires a minimum deposit of $50. Other Vietnam forex brokers require either $100 or $200 minimum deposit.

    What payment methods do Vietnamese forex brokers support?

    The most common payment methods they accept include debit/credit cards, bank transfer and PayPal.

    Forex brokers by country

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