Thailand, located in Southeast Asia, is a significant player in the global financial markets, known for its vibrant economy and emerging market status.
The country’s currency is the Thai Baht, often represented by the symbol “THB”. As the nation’s economy has continued to expand and integrate with the global market, foreign exchange (forex) trading has gained prominence.
The regulatory body responsible for overseeing retail forex trading activity in Thailand is the Securities and Exchange Commission (SEC). The SEC ensures that the forex market operates transparently and fairly, setting guidelines and standards to protect traders and investors.
Here we have collected some of the top forex brokers for trading in Thailand. We have taken into consideration the following factors in choosing the brokers below:
- Regulation of the broker;
- If Thai language and support were provided by the broker;
- If local deposits were available for Thai clients;
- Minimum deposit of the broker;
- Spreads and leverage on forex.
What are the best forex brokers in Thailand?
Below is our curated list of the best forex brokers for traders living in Thailand, with details and information about the country laws, the features, and the characteristics.
XM
best for beginners
XM allows Thai traders to trade with IFSC Belize regulation. XM offers bonuses and multilingual support, with a minimum deposit of $5 in Thailand.
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Regulations:
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- Thai traders can trade under the XM Global entity which is regulated by IFSC Belize (000261/397).
- XM offers Thai Language on their website.
- XM global entity provides different bonuses in Thailand including a $25 bonus, a 50% deposit bonus, a 20% deposit bonus, and a very rewarding loyalty program.
- XM won the ‘Most trusted Asian Forex Broker’ award in 2019.
- Traders in Thailand will find an XM minimum deposit of $5.
- XM offers 55+ currency pairs with spreads on forex from 0 pips.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
FBS
best for negative spreads
FBS gives Thai traders the ability to trade under IFSC regulation. FBS offers bonuses, Thai language support, and local banking options, with a minimum deposit starting at $1.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- Thai traders can trade under the FBS Global entity which is regulated by IFSC (60/230/TS/18).
- FBS supports Thai language for Thai clients.
- FBS bonuses are available in Thailand, including a 100% deposit bonus, level up bonus, and cashback program.
- FBS has won an award for being the best broker in Thailand.
- FBS provides local banking transfers in THB. Deposits for Thai clients via QR code with no fees from FBS in 3 hours are also available..
- The FBS minimum deposit in Thailand starts from $1.
- Forex clients in Thailand will find FBS spreads from -1 pips on 35+ currency pairs with a leverage up to 3000:1.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
AvaTrade
best for fixed spreads
AvaTrade lets Thai clients trade under St Vincent BVI regulation. AvaTrade provides fixed spreads, supports the Thai language, and accepts THB accounts.
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Regulations:
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About AvaTrade
AvaTrade is a global forex and CFD broker founded in 2006 and headquartered in Dublin, Ireland. AvaTrade offers trading on currencies, commodities, indices, stocks, bonds, ETFs, and cryptocurrencies. AvaTrade provides proprietary platforms alongside MetaTrader 4 and 5. AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA. AvaTrade serves over 300,000 clients worldwide. AvaTrade is known for competitive spreads and extensive educational resources. The AvaTrade CEO is David Dryzin since 2016.
AvaTrade Features
The features of AvaTrade are listed below.
- Thai clients can trade under the AvaTrade entity regulated by St Vincent BVI (n. SIBA/L/13/1049).
- Thai language is available on AvaTrade’s website.
- AvaTrade Thai traders can also get help from customer support in Thai.
- Thai clients can open an account with the local currency THB.
- An AvaTrade minimum deposit of $100 is needed to open an account in Thailand.
- AvaTrade in Thailand offers 60+ currency pairs with fixed spreads from 0.9 pips and a 100:1 maximum leverage.
AvaTrade Pros and Cons
Advantages of AvaTrade
The advantages of AvaTrade are listed below.
- Tight fixed spreads from 0.6 pips (0.9 pips for retail traders)
- The mobile apps are well designed
- Can be connected to ZuluTrade and Duplitrade
Disadvantages of AvaTrade
The disadvantages of AvaTrade are listed below.
- High inactivity fees
- The demo account is limited to 30 days
OctaFX
best for Asian traders
OctaFX enables Thai traders to trade with regulation from Saint Vincent and the Grenadines. OctaFX supports Thai language and local bank deposits in THB with low minimum deposits.
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Regulations:
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About OctaFX
Octa, formerly known as OctaFX, is a global forex and CFD broker founded in 2011. Octa offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. Octa is regulated by multiple authorities including CySEC. Octa is known for competitive spreads, extensive educational resources, and copy trading services. Octa serves clients in over 100 countries worldwide.
OctaFX Features
The features of OctaFX are listed below.
- Thai traders can trade under the OctaFX global entity regulated by Saint Vincent and the Grenadines 19776.
- OctaFX also provides excellent language support for Thai traders.
- OctaFX has won several awards for being the best broker in Asia, the last one in 2022.
- Thai clients can benefit from an OctaFX 50% deposit
- Local bank deposits in THB are available.
- The recommended OctaFX minimum deposit in Thailand is $100, but can start as low as $25.
- Thai clients of Oanda can trade among 35 currency pairs with spreads from 0.6 and maximum leverage up to 500:1.
OctaFX Pros and Cons
Advantages of OctaFX
The advantages of OctaFX are listed below.
- Low Trading Costs
- Robust Educational Resources
- Multiple Trading Platforms
Disadvantages of OctaFX
The disadvantages of OctaFX are listed below.
- Limited Asset Range
- No VIP Discounts
- Restrictions on High-Frequency Trading
FXTM
best for account types choice
FXTM offers Thai traders trading under FSC regulation with language support and zero-commission THB deposits through online banking. FXTM provides a $10 minimum deposit with loyalty programs.
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Regulations:
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About FXTM
FXTM, also known as ForexTime, is a global forex and CFD broker founded in 2011. FXTM offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. FXTM is regulated by multiple authorities including CySEC, FCA, and FSC Mauritius. FXTM is known for low spreads, fast execution, and extensive educational resources. FXTM serves over 2 million clients worldwide. The FXTM CEO is Nicholas Defteras.
FXTM Features
The features of FXTM are listed below.
- Thai traders can trade under the FXTM Global entity which is regulated by FSC (C113012295).
- Thai language is provided by FXTM on their website.
- Clients in Thailand under the FXTM Global entity have access to the FXTM Loyalty program where they can earn money depending on how much they trade.
- FXTM has won the ‘Best FX Broker Asia’ in 2018 with the World Finance Awards.
- Deposits and withdrawals with Online Banking Thailand in THB and with no commission from FXTM’s part are accepted from FXTM for Thai clients.
- Thai clients are required to make an FXTM minimum deposit of $10.
- FXTM clients in Thailand will find spreads from 0 pips on 60+ currency pairs with a maximum leverage of 2000:1 depending on position size.
FXTM Pros and Cons
Advantages of FXTM
The advantages of FXTM are listed below.
- User-Friendly Platform
- Fast Customer Support
- Low Minimum Deposit
Disadvantages of FXTM
The disadvantages of FXTM are listed below.
- Withdrawal Fees
- Limited Product Range
- Inactivity Fees
Instaforex
best for forex trading
Instaforex gives Thai traders trading access under BVI FSC regulation. Instaforex offers bonuses, Thai language choice, and THB banking transfers with a $1 minimum deposit.
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Regulations:
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Avg. EUR/USD Spread:
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Platforms:
About Instaforex
InstaForex is a global forex and CFD broker established in 2007, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. InstaForex provides MetaTrader 4, MetaTrader 5, and proprietary platforms. InstaForex is regulated by the Financial Services Commission (FSC) of the British Virgin Islands. InstaForex serves over 7 million clients worldwide and is known for competitive spreads, extensive educational resources, and various account types. InstaForex offers copy trading and PAMM accounts.
Instaforex Features
The features of Instaforex are listed below.
- Thai traders can trade under the Instaforex Global entity which is regulated by BVI FSC (SIBA/L/14/1082).
- Thai language can be chosen on Instaforex’s website.
- Thai traders under the global entity of Instaforex can find different bonuses including a 100% bonus, 30% bonus, and 55% bonus under certain conditions.
- Instaforex has picked up an award for being the best broker in Asia in 2018.
- Instaforex provides local banking transfers in THB for Thai traders. Deposits in Thailand via QR code are also available.
- Instaforex clients in Thailand have to make a minimum deposit of $1.
- Instaforex in Thailand charges spreads from 0 pips on 100+ currency pairs with a leverage up to 1000:1.
Instaforex Pros and Cons
Advantages of Instaforex
The advantages of Instaforex are listed below.
- Beginner-Friendly
- Wide Range of Instruments
- Advanced Trading Tools
Disadvantages of Instaforex
The disadvantages of Instaforex are listed below.
- Outdated Website Design
- Limited Trading Instruments
- Customer Support Limitations
FP Markets
best for fast execution of the orders
FP Markets offers trading for Thai users under regulation in Saint Vincent and the Grenadines. FP Markets provides Thai language, and enables THB banking deposits with a $100 minimum.
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Regulations:
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Platforms:
About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- Thai traders can trade under the international entity of the broker, FP Markets LLC, regulated in Saint Vincent and the Grenadines with limited liability number 126 LLC 2019.
- Thai Language is available on FP Markets’ website.
- PlusDebit and XPay South East Asia Online banking deposits are available in THB with no commission from FP Markets’ part for Thai traders.
- A $100 minimum deposit is what FP Markets clients in Thailand need to make in order to start trading.
- FP Markets Thai traders have access to 70+ currency pairs with spreads from 0.3 pips and leverage up to 500:1.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
XTB
best for educational resources
XTB lets Thai traders operate under IFSC regulation. XTB provides Thai language support, cashback programs, and local deposit options with no minimum deposit requirement.
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Regulations:
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Avg. EUR/USD Spread:
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Platforms:
About XTB
XTB is a global forex and CFD broker founded in 2002 and headquartered in Poland. XTB offers trading on over 2,000 instruments including currencies, stocks, indices, commodities, and cryptocurrencies. XTB provides the proprietary xStation platform and is regulated by multiple authorities including FCA, CySEC, and KNF. XTB is listed on the Warsaw Stock Exchange and serves over 897,500 clients worldwide. The XTB CEO is Omar Arnaout since March 2017.
XTB Features
The features of XTB are listed below.
- Thai traders can trade under the XTB International Limited (XTB) entity, with IFSC regulation in place (License No. 000302/185).
- The Thai language and customer support are available on the XTB xStation5
- Thai clients under XTB Global can benefit from the Cashback rebate program where the amount of cashback per month will is agreed between you and your dedicated account manager under certain conditions.
- XTB local deposits, including QR payments and online banking payments, can be used in Thailand.
- XTB Thai clients have no minimum deposit
- 48 currency pairs with spreads from 0 pips and maximum leverage up to 500:1 are what forex traders in Thailand will find with XTB.
XTB Pros and Cons
Advantages of XTB
The advantages of XTB are listed below.
- No minimum deposit
- Wide selection of assets
- Competitive trading costs
Disadvantages of XTB
The disadvantages of XTB are listed below.
- Small withdrawal fee
- No social or copy trading
- XTB demo account is limited to 30 days
Oanda
best for liquidity
Oanda allows Thai clients to trade under BVI Financial Services Commission regulation. Oanda supports bank transfers and ewallets in Thailand without any minimum deposit requirement.
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Regulations:
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Avg. EUR/USD Spread:
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Platforms:
About Oanda
OANDA is a global multi-asset broker founded in 1996, offering trading on forex, CFDs, commodities, indices, and cryptocurrencies. OANDA provides proprietary platforms and API solutions. OANDA is regulated by multiple authorities including FCA, ASIC, and MAS. OANDA is known for competitive spreads, fast execution, and currency data services. OANDA serves both retail and institutional clients worldwide. The Oanda Chief Executive Officer is Gavin Bambury since August 2019.
Oanda Features
The features of Oanda are listed below.
- Oanda clients in Thailand can trade with Oanda Global Markets under the BVI Financial Services Commission, number: SIBA/L/20/1130.
- Oanda has won an award for best CFD Broker Asia Pacific in 2019.
- Oanda offers Thai clients online bank transfers and ewallets, in particular Wayar bank online and QR code payment options.
- There is no requirement for a minimum deposit for clients in Thailand.
- Thai traders under Oanda Global Markets will have access to70+ currency pairs with spreads from 0.6 pips and leverage up to 200:1.
Oanda Pros and Cons
Advantages of Oanda
The advantages of Oanda are listed below.
- Comprehensive Platforms
- Robust Education
- Highly Regulatory Trust
Disadvantages of Oanda
The disadvantages of Oanda are listed below.
- Higher Spreads
- Proprietary Platform Limitations
- Inactivity Fees
Is Forex Trading legal in Thailand?
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.
What should Thai traders 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 a 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?
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