Top 10 Best Forex Brokers in Thailand for 2020

Filippo Last Updated: October 2020 12 min read
Top Rated:

Are you a trader based in Thailand and looking for the very best Thai forex brokers to choose from?

If that is the case, then we have the perfect selection for you. Here you will find not only a list of the top forex brokers and the best fx trading platforms, but also everything you need to know about getting started in forex trading in Thailand.

Let’s get started with a closer look at the key points you should know.

Is Forex Trading legal in Thailand?

This is the first, and one of the most important questions when forex trading in Thailand. You will be glad to know that forex trading is actually legal in Thailand although it was banned up until 2017.

Within Thailand, you will find that brokers are regulated by the Thai SEC (Securities and Exchange Commission). With that said, it is not uncommon for internationally recognized, and trustworthy brokers to be allowed to accept Thai traders. This often includes those registered by the FCA, CySEC, and ASIC which are all very well-respected bodies in the forex world.

How to trade forex in Thailand

Trading forex in Thailand is very similar to starting to trade in any part of the world. The process is relatively painless and can be completed very quickly. All you really need to provide are a few documents. These are as follows:

  • A copy of your ID typically in the form of your passport works best.
  • Proof of your residence. This can be from a recent utility bill or bank statement and must match the information on your account.

This and your personal details is all you really need to open an account with a Thai forex broker. From there you will pass the verification process and will be ready to deposit into your account and start trading.

Top 10 Best Forex Brokers in Thailand

Here is a closer look at the top Thai forex brokers we have found for you to choose from:

Open an account
73.57% of retail investor accounts lose money

1. XM

XM is the first broker to feature as a top choice for traders in Thailand, and they are similarly respected around the world. They have a strong base among Thai traders and are a favored choice for many reasons, not alone the fact that they offer Thai language support.

What you will find at XM is not only a top broker who are well-regulated and trustworthy, they also provide for a great range of account type choices. If you are looking for the best value minimum deposit, then this can be found with their XM Standard, and XM Micro account which is great for lowering risk. The trading costs remain very competitive too. The spread at XM starts from 0 pips, and they have an excellent bonus infrastructure offering a $30 bonus, a 50% deposit bonus, a 20% deposit bonus, and a very rewarding loyalty program.

Added to all of that, if you are an Islamic trader, then XM can also cater for your needs with one of the best swap-free accounts in the industry.

76
Rated: Excellent
security 96
cost 75
trading 55
education 81

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: $5
Open an account
81% of retail investor accounts lose money

2. FXTM

FXTM is the next broker to feature on our listing of the top Thai forex brokers. They too are known and trusted around the world as well as providing good support for the Thai language. You will be pleased to find an extremely low minimum deposit amount in place here. This amount starts from just $10 making the broker very accessible if you are starting out.

FXTM also provides for a good range of account type choices depending on your needs, and a particularly popular account type choice among these is the FXTM ECN account which has great execution speeds and a minimum deposit from only $200. Spreads with the broker start from as low as possible at 0 pips with trading done through the trusted MT4 trading platform.

Although there is no bonus directly offered by FXTM, they do have a strong loyalty program in place which can help you reduce your trading costs over time.

74
Rated: Excellent
security 96
cost 58
trading 54
education 100

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, Proprietary Web Platform Regulations: FCA, MIFID-ESMA, FSB, CYSEC, FSC (Mauritius) Minimum Deposit: $100
Open an account
61.14% of retail investor accounts lose money

3. Instaforex

The next top Thai forex broker we have selected is another award-winning choice. Instaforex has picked up 19 awards in total including one for being the best broker in Asia. Trading with them, you will also benefit from full Thai language support.

Trading at Instaforex, the minimum deposit is as low as it can be. This starts from $1 meaning that anyone can begin trading with the broker. This is even the case with ECN accounts which typically have a higher minimum deposit. Instaforex also offers you a good selection of account types to choose from including a swap-free account which is available if you need it.

At Instaforex, an excellent job is done in catering for many local payment methods which can also help ensure that you avoid any conversion fee. On top of this, the bonus infrastructure is strong with a total of 4 bonuses offered including a 100% deposit bonus on your first deposit.

73
Rated: Excellent
security 96
cost 59
trading 57
education 78

Platforms: Mirror Trader, ZuluTrade, MT5 Desktop, Proprietary Web Platform Regulations: MIFID-ESMA, CYSEC, FSC (British) Minimum Deposit: $1
Open an account
74-89% of retail CFD accounts lose money

4. FBS

FBS is next on the list as another top Thai forex broker. Not only in Thailand, but around Asia and globally the FBS reputation stretches. They provide an excellent and very well-regulated trading environment and are an extremely accessible broker choice with a minimum deposit starting from only $1. This provides the opportunity for you to trade with a very low spread that starts from 0 pips on a choice of account types.

Of these account types, an ECN account is a popular choice if you want to trade and have some of the fastest executions in the sector. The minimum deposit on these accounts starts from $1,000. A great swap-free account type choice is also available should you require it.

Beyond these types of trading accounts, FBS also provides a good infrastructure and trading platform for copy traders who are looking to get started, and a huge offering when it comes to bonuses. These include a range of contests and a 100% deposit bonus.

74
Rated: Excellent
security 95
cost 72
trading 51
education 81

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $1
Open an account
79% of retail investor accounts lose money

5. AvaTrade

AvaTrade is a top Irish and European broker who have now established a strong international presence, including in Thailand. They are extremely well regulated by the Central Bank of Ireland and ESMA compliant. Here you will also benefit from full Thai language support.

At AvaTrade you will be met with a very competitive minimum deposit which starts at $100. You can also have a wide range of account types to choose from depending on your trading needs and style. This selection includes an excellent swap-free account if you need it. AvaTrade is also one of the only brokers to provide access to fixed spread trading. These spreads start from a highly competitive 0.9 pips on major assets. Although there are no bonuses available, you can rely on the best, top-quality, and trustworthy service from this broker.

80
Rated: Excellent
security 93
cost 74
trading 75
education 63

Platforms: Mirror Trader, ZuluTrade, MT4 Web, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: FSA, MIFID-ESMA, ASIC, IIROC, FSCA, Offshore, FSC (British) Minimum Deposit: 100
Open an account
75% of retail investor accounts lose money

6. eToro

Next on the list of top Thai forex brokers is eToro. They are instantly recognizable. A household name in the industry, they do not come much bigger or better than this broker. They are regarded by most as the top social trading broker in the world, and you can open your account and start trading with a minimum deposit from $200.

eToro is a perfect place for new and experienced traders alike, particularly if you are interested in copy trading, though they offer many other options. You can try out the broker with a free and completely unlimited demo account, and you can even copy the trades of many expert traders if you are unsure yourself.

Ultimately, eToro is one of the most trusted broker names in the world. This can be a great plus for Thai traders. The only disadvantage is the fact that the broker only accepts USD payments. This means that for THB or any other currency you deposit, there will be an unavoidable, yet small currency conversion fee with the top broker who is more than competitive in all other departments.

77
Rated: Excellent
security 93
cost 64
trading 71
education 72

Platforms: Proprietary Web Platform Regulations: FCA, CFTC, MIFID-ESMA, ASIC, CYSEC Minimum Deposit:
Open an account
74-89% of retail CFD accounts lose money

7. OctaFX

OctaFX is the next top international broker on the listing who can also qualify as a top Thai broker. They also provide excellent language support for Thai traders as well as standing out for the quality of swap-free account which they offer. This is undoubtedly one of the industries best.

You can open your OctaFX account and begin trading with a very accessible minimum deposit too. This starts from only $100 and makes them a very popular choice among new and experienced traders alike. When it comes to bonuses, these are also available with the broker. You can receive a 50% deposit bonus on each and every deposit with OctaFX, not only the first. This is another very appealing point as is the availability of local deposit methods which could see you save on fees at this popular, high-quality broker.

72
Rated: Excellent
security 96
cost 60
trading 52
education 77

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, CYSEC Minimum Deposit: $100
Open an account
74-89% of retail CFD accounts lose money

8. FP Markets

FP Markets are next to be included in our collection of top Thai forex brokers. They are a very well-trusted Australian broker who have been around in the industry for many years, since 2005. They too provide a great degree of Thai language support in helping Thai traders get started.

Here you will find a market maker broker which not only features an extremely low starting spread from 0 pips, but which also provides for lightning fast trade execution with their ECN/STP style. This combination has made them an especially popular choice with both new, and more experienced traders. The minimum deposit too keeps them extremely accessible. You can deposit just $100 and get started with a standard account, while there are other accounts including a CFD stockbroking account available with minimum deposits from $1,000 up to $50,000.

This number of options combined with an excellent and low trading cost are some of the reasons why FP Markets has grown into a very top broker through the years.

77
Rated: Excellent
security 95
cost 62
trading 70
education 71

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, MAC Platforms Regulations: ASIC Minimum Deposit: $200
Open an account
80% of retail investor accounts lose money

9. XTB

XTB are another broker who provide for excellent Thai language support and also make our listing of the very best Thai forex brokers. One of the several key points which sets them apart is their wonderful educational infrastructure. They provide a great and extensive range of lessons for all levels from low to high.

Anyone can easily start trading at XTB thanks to the fact they have absolutely no minimum deposit in place. This also makes them an extremely popular first choice for new traders. An equally low spread starting from 0.2 pips works to keep trading costs low at all times. When it comes to account type choice you will find good options available here including a top swap-free account if you need one.

Although XTB does not offer any direct bonuses, they do provide for a large number of trading contests. This includes many dedicated to Islamic traders particularly during Ramadan. In this way, the top global broker keeps very close connections to traders and the community.

74
Rated: Excellent
security 96
cost 55
trading 59
education 83

Platforms: Mirror Trader, Proprietary Desktop Platform, MAC Platforms Regulations: FCA, MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $250
Open an account
74-89% of retail CFD accounts lose money

10. Roboforex

The last broker on our listing but still very much a top choice when it comes to the top Thai forex brokers, is RoboForex. They have quickly grown to become a popular choice in the industry for all manner of traders, and they provide a wide range of accessible trading options to suit everyone.

Here you will find a very low minimum deposit that starts from just $10 if you are using a cent account and is the perfect starting point especially for traders gaining experience. There is also a strong number of other account type choices available. Excellent copy trading choices are also available for all traders through the dedicated RoboForex CopyFX service when you deposit at least $100. This opens up another range of choices for traders.

Thai language support is also well provided for at RoboForex, and trading costs are kept as low as possible with a great value spread starting at 0 pips.

78
Rated: Excellent
security 95
cost 78
trading 59
education 83

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $10

Thai trader? Here’s what to look for in a forex broker

As always, there are a few key points to look out for as a Thai forex trader. These can also be said no matter what country you are trading from. In Thailand, you have the luxury of being able to choose from some of the best international forex brokers since Thai SEC regulation is not mandatory. With that said, there are still a few things to prioritize. Here are few tips in that respect:

1. Choose a broker with a great demo account if you are a beginner

A demo account is one of the best, and safest ways in which you can get to know both a broker and the industry. Here you can trade risk-free with virtual funds, while still experiencing the trading environment. If you are a new trader, it pays to remember that any kind of trading carries a risk, particularly trading on leverage, and you should try to open a top-quality demo account first to practice.

2. Look for brokers allowing Thai payment methods

It is to your benefit as a Thai trader to find a broker who accepts deposits in the local currency (THB). Of course, Visa and Mastercard are global, but not every broker will accept a payment in local currency. This means you could be left with a small currency conversion fee. Try to avoid this if possible and look out for a broker with your base currency, or at least one who may offer local internet banking deposit choices.

3. Try to avoid offshore regulated brokers

An offshore broker is one which is regulated in some more flexible regions. This can provide some benefits if you want to trade on higher leverage, but typically you should always prioritize trading with a broker who offers top-tier regulation. This can come in the form of European brokers with CySEC, Australian brokers under ASIC, or others under the FCA and some other well-reputed regulators in the world.

How to verify if a forex broker is regulated in Thailand

Verifying that your broker is indeed regulated is a key step if you want to perform your due diligence correctly. Doing this is very simple. All you have to do is go to the official Thai SEC website if you want to check. But since this isn’t mandatory, we recommend you to check if brokers are ESMA compliant, ASIC or FCA regulated also. You can double check this through the following links noting that European brokers usually register with CySEC and all EU brokers should feature as ESMA compliant:

Is forex trading taxable in Thailand?

Like many parts of the world, profits from trading with a Thai forex broker are taxable. The capital gains tax here stands at 15% for trading and stock-investing incomes.

We are not professional tax advisors, thus we strongly suggest you contacting local authorities if you don’t know how to manage this aspect


image-banner-example-scaled
Keeping you better informed

Find and compare the best
Online brokers for you

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
Copyright © 2020 – All rights reserved. / Privacy Policy / Basic Terms of Use / Sitemap