With no regulator in Thailand, it is important for Thai traders to choose a forex broker with a good reputation. The CFD team of experts suggest the best forex brokers in Thailand for forex trading based on regulation, trading platforms and spreads.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
The top Thailand forex brokers in 2024 are the following:
| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | Read Full Review |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Read review ›
|
98 |
SCB, ASIC FCA, CySEC |
1.10 | 1.40 | 1.20 | 0.10 | 0.40 | 0.20 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
Read review ›
|
80 |
ASIC,CySEC FSCA,FSA-S,FSC-M |
1.1 | 1.3 | 1.3 | 0.10 | 0.20 | 0.20 | $3.00 |
|
|
|
225ms | $100 | 70+ | 10+ | 30:1 | 500:1 |
|
Read review ›
|
85 |
ASIC, FSA-S CySEC |
0.62 | 0.83 | 0.77 | 0.02 | 0.23 | 0.17 | $3.50 |
|
|
|
134ms | $0 | 61+ | 18+ | 30:1 | 500:1 |
|
Read review ›
|
68 |
FCA, FSCA ASIC, FSA-S, CySEC |
1.1 | 1.3 | 1.1 | 0.1 | 0.3 | 0.2 | $3.50 |
|
|
|
161ms | $0 | 46+ | 21+ | 30:1 | 500:1 |
|
Read review ›
|
43 |
ASIC, CySEC, MFSA FCA, FSA, FINRA GFSC |
1.0 | 2.0 | 1.0 | - | - | - | - |
|
|
|
130ms | $200 (Australia), $50-$100 (EU) | 49+ | 46+ | 30:1 | 400:1 |
|
Read review ›
|
61 |
FCA, CySEC, CIMA NFA/CFTC, CIRO, JFSA |
1.2 | 1.6 | 1.4 | - | - | - | $6.00 |
|
|
|
30 ms (May 2023) | $100 | 80+ | 8+ | 30:1 | 400:1 |
|
Read review ›
|
72 |
ASIC, FSCA FCA, CIRO BaFin, ISA, CySEC |
1.3 | 1.4 | 1.7 | 0.30 | 0.90 | 0.40 | $3.00 |
|
|
|
150ms | $300 | 42+ | 7+ | 30:1 | 500:1 |
|
Read review ›
|
46 |
FCA, FSCA, CYSEC DFSA,CMA,FSA |
1.2 | 1.9 | 1.8 | 0.1 | 0.3 | 0.7 | $3.00 |
|
|
|
$0 | 38+ | 19+ |
|
While Thailand doesn’t have a financial regulator, there are still plenty of reputable forex brokers to choose from. With our list below, we have selected the best forex brokers in Thailand based on key trading factors including account fees, spreads and forex trading platforms.
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.4
AUD/USD = 0.2
Trading Platforms
MT4, MT5, cTrader, TradingView
Minimum Deposit
$0
Why We Recommend Pepperstone
Broker Details
The Best Thailand Forex Broker
Pepperstone offers the ultimate trading experience for forex traders in Thailand with low spreads from 0.0 pips, 150+ CFDs across 6 asset classes, the most popular trading platforms, fast order execution speeds under 30ms and reliable 24/5 customer support.
Pepperstone is a fully regulated broker by top-tier financial institutions, including:
Clients of Pepperstone Thailand will be regulated by
Pepperstone applies a level of regulation in line with what they use for ASIC for clients with SCB regulation. This means you will get the same level of leverage, some complaints procedures and the same type of execution policies one would expect from a broker with top-level regulation.
Moreover, Pepperstone is an international forex broker with offices in Melbourne, London and Dubai. Due to its strong commitments to better serve its Thai clients, the Pepperstone website and customer service are available in the Thai language. Customer service hours in Thai are Monday – Friday, 8: 00-19: 00 or support is available in Thai through live chat and email.
Our team of industry experts at Compare Forex Brokers consider Pepperstone to be the best broker for Thai traders.
Pepperstone Offers Low-Cost Forex Trading
The Australian-based broker is recommended for its low trading costs per trade. With Pepperstone you can save up to almost 60% in forex trading costs compared to other online brokers.
For example, when the total trading fees when trading forex comes to USD 5.06 for one EUR/USD standard lot. The cost of opening and holding a position in the forex market compares favorably with other popular brokers:
To work out your trading costs, you can use our proprietary calculator below.
Calculate Your Trading Costs Below
Total Fees
Commission
Spread Costs
Total
Total Fees
Commission
Spread Costs
Total
Total Fees
Commission
Spread Costs
Total
Pepperstone is able to offer market-leading trading fees due to its wide network of liquidity providers derived from multiple sources. On average, this online trading provider is able to process USD 9.2 billion in trading volume on a daily basis. This allows Pepperstone to offer low-cost trading (spreads + commissions):
Pepperstone offers Electronic Data Communication (ECN) pricing through its Razor account and its spreads. A comparison of brokers who advertise their average spreads on their website found Pepperstone offer the lowest spreads on 4 of the 9 major forex pairs.
|
Pepperstone MT4 Spread Comparison
|
|||||
|---|---|---|---|---|---|
|
0.20 | 1.00 | 0.40 | 0.60 | 0.10 |
|
0.17 | 0.30 | 0.14 | 0.25 | 0.02 |
|
0.20 | 0.50 | 0.20 | 0.30 | 0.10 |
|
0.20 | N/A | 0.20 | 0.30 | 0.20 |
|
0.42 | 0.30 | 0.20 | 0.83 | 0.44 |
|
0.30 | 0.68 | 0.24 | N/A | 0.17 |
|
0.40 | 0.70 | 0.30 | 0.70 | 0.20 |
|
0.50 | 0.80 | 0.30 | 1.10 | 0.10 |
|
0.50 | 0.40 | n/a | 0.30 | n/a |
|
1.23 | 1.23 | 0.77 | 1.41 | 0.44 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Additionally, Thailand residents can trade the local currency Thai Baht (THB) against the US dollar. Pepperstone’s Raw Spread account offers the following USD/THB spreads:
| Pepperstone | IC Markets | Forex.com | Oanda | IG Markets | FxPro | |
|---|---|---|---|---|---|---|
| USD/THB Average Spread | 44.26 pips | 33.70 pips | 3.7 pips | 11.9 pips | 1.6 pips | 8 pips |
| Leverage | 500:1 | 500:1 | 50:1 | 100:1 | 200:1 | 30:1 |
Pepperstone Trading Conditions
Pepperstone earned our top spot for the best forex brokers in Thailand due to an all-inclusive selection of trading features and tools. Everything is designed to accommodate both retail traders and professional traders. Some of the most advanced features include:
Final Verdict On Pepperstone
Overall, Pepperstone’s trading costs are low compared to other FX brokers. The firm also makes it fairly easy to gain access to the global foreign exchange market with a minimum deposit of USD 200. Claim your free demo account by clicking the button below.
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.2
AUD/USD = 0.1
Trading Platforms
MT4, MT5
Minimum Deposit
$100
Why We Recommend FP Markets
Broker Details
Best Broker For Trading MetaTrader 4 Platforms
FP Markets delivers the ultimate trading solution in terms of top-tier trading platforms. This brokerage trading firm offers 10,000+ CFDs, an average execution speed of 40ms, and a non-dealing desk (NDD) execution model. Forex traders in Thailand can trade over 60 currency pairs with the following forex trading platforms:
Bangkok is not a major financial center with a financial regulatory agency. Traders in Thailand are registered with FP Markets LLC St. Vincent and the Grenadines, Limited Liability Number 126 LLC 2019 have no official regulator, However, FP Markets regulatory frameworks mimic some of the best practices imposed by global financial bodies like NFA, ASIC, FCA or CySEC. FP Markets LLC applies policies consistent with their Australian and European FP Market arms, so Thai clients should expect FP Markets is a broker that will be secure.
MetaTrader 4 (MT4)
MetaTrader 4 by MetaQuotes Software Corp is our top choice for beginner traders and professional traders alike. MT4 has a user-friendly interface and automated trading options with deep liquidity to satisfy the needs of all types of traders.
FP Markets powers the MetaTrader 4 platform with its own pricing and execution technology. Additionally, FP Markets uses the Electronic Communication Network ECN pricing model to stream its live forex quotes. Here is a list of trading features that makes FP Markets MT4 platform superior:
Final Verdict On The Best Thailand Forex Trading Platform
Overall, FP Markets high-tech suite of trading platforms gives Thailand residents advanced trading tools. Also, the platform can be accessed through the desktop (Windows and iOS), browser, and mobile trading (iPhone and Android). Test this unique platform with a demo account by clicking the button below.
Forex Panel Score
Average Spread
EUR/USD = 0.02
GBP/USD = 0.23
AUD/USD = 0.17
Trading Platforms
MT4, MT5, cTrader
Minimum Deposit
$200
Why We Recommend IC Markets
Broker Details
The Best Low Spread Forex Broker
IC Markets is the best broker for low spreads across over 65 currency pairs and 186 CFDs. Clients of IC Markets Raw spread account can enjoy spreads from 0.0 pips, leverage up to 500:1, order execution speed under 40ms and no-requotes. The IC Markets ASIC and CySEC licenses bring more credibility and trust to the broker.
Additionally, the broker is also registered with the Financial Services Authority of Seychelles (FSA). This means the broker abides by the strict guidelines enforced by the world’s biggest watchdog agencies. Below, our team of industry experts will outline why IC Markets offers a low-cost trading solution for its clients.
Trade Forex With Raw Spreads
IC Markets offers raw spreads on two different trading accounts (cTrader Raw spread and MetaTrader Raw spread account). When we compared the average bid and ask spread the EUR/USD displays the lowest spread at 0.1 pips. Additionally, during pick market hours the EUR/USD spread stands at 0.0 pips 95% of the time (using price data from 01-07-2019 to 31-12-2019).
See below the complete list of the best lowest spread forex brokers.
|
FP Markets Account Spreads
|
|||||
|---|---|---|---|---|---|
|
|
0.02 | 0.23 | 0.27 | 0.85 | 0.17 |
|
|
0.10 | 0.30 | 0.30 | 1.40 | 0.20 |
|
|
0.10 | 0.60 | 0.40 | 2.40 | 0.20 |
|
|
0.20 | 0.50 | 0.40 | 1.50 | 0.20 |
|
|
0.17 | 0.59 | 0.54 | N/A | 0.30 |
|
|
0.20 | 0.60 | 0.50 | 10.00 | 0.40 |
|
|
0.10 | 0.60 | 0.60 | 1.30 | 0.50 |
|
|
n/a | 0.20 | 0.60 | 3.10 | 0.50 |
|
|
0.44 | 0.85 | 0.40 | 1.30 | 0.42 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Note* On average, IC Markets spreads are with 60% lower than its competitors.
Trading CFDs with low spreads is also possible through IC Markets. On the most popular CFDs contracts, traders from Thailand can expect the following costs:
Traders need to keep in mind that the ECN pricing model offered by IC Markets comes with a commission rate of USD 7.0 round turn for every 100,000 units traded. For free-commission trading, traders have the option to opt for the Standard account, which has fixed spreads. In order to make money, like any other broker, IC Markets mark up the spread by 1 pip on top of the Interbank spread.
IC Markets Trading Performance
IC Markets serves over 100,000 active forex traders from all over the world. These forex traders generated:
IC Markets is able to offer the lowest spreads in the forex industry along with transparent pricing due to its diverse network of global liquidity providers comprised of 25 LPs. Another strength comes from the fact that its ECN price matching technology is collocated in New York and London data servers. This also ensures fast order execution speeds of 40 milliseconds.
Final Verdict On IC Markets For Low Spread Trading
IC Markets is among the best forex brokers for low spreads. Low spreads are designed not just for saving on trading costs but are also compatible with scalping strategies. Trading forex with IC Markets only requires a minimum deposit of USD 200.
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.3
AUD/USD = 0.2
Trading Platforms
MT4, MT5, ThinkTrader
Minimum Deposit
$0
Why We Recommend ThinkMarkets
Broker Details
The Best Account Types Including Islamic Accounts
ThinkMarkets is our top choice for the range of trading account offering along with deposit and withdrawal methods. Established in 2010 and headquartered in Melbourne, Australia, this online trading provider offers 6 different account types that include:
It’s safe to trade with ThinkMarkets. This brokerage trading firm operates under the supervision of two major regulatory agencies (ASIC and FCA) and one tier-2 regulatory body (FSCA in South Africa). This offers strong protection and safeguards traders in Thailand from illegal trading activities. Traders in Thailand will be regulated by the Financial Services Authority of Seychelles, Firm Reference Number SD06.
ThinkMarkets Account Features Comparison
ThinkMarkets clients have the option to choose between 6 distinctive trading account types. The most popular account types are the:
| บัญชีมาตรฐาน | ThinkZero | |
|---|---|---|
| สเปรดฟอเร็กซ์เฉลี่ย | 1.2 ปิ๊ป | 0.1 ปิ๊ป |
| สเปรดสัญญาซื้อขายส่วนต่าง | ตั้งแต่ 0.9 จุด | ตั้งแต่ 0.9 จุด (ไม่มีคอมมิชชั่น) |
| คอมมิชชั่น | ไม่มี | $3.5 ($7 round-turn) |
| แพลตฟอร์ม | MT4, MT5 และ ThinkTrader | MT4 |
| การป้องกันยอดติดลบ | มี | มี |
| AutoChartist | ไม่มี | มี |
| ตำแหน่งที่ตั้งเซิร์ฟเวอร์ | LD5 และ HK4 | LD5 และ HK4 |
| ยอดดำเนินการขั้นต่ำ | USD 0 | USD 500 |
The ThinkZero account allows traders to access an STP pricing model. This means you can trade directly with institutional liquidity providers, without any spread mark-up. Professional traders or high-volume traders have the option to select the ThinkMarkets Pro account. The pro account comes with high leverage settings, a dedicated account manager, and cash rebates.
Additionally, IC Markets offers a Joint Account and a risk-free Demo account with USD 25,000 in paper money included.
ThinkMarkets Islamic Account
Muslim traders in Thailand have the option to open a swap-free account with IC Markets. The Islamic accounts are compliant with Sharia law. This means no interest rate will be credited or debited in your live account.
While most forex brokers will increase their spread to compensate for the overnight rollover fee lost, ThinkMarkets will charge a small administrative fee. The administrative fee will only be applied for positions that are held for 7 consecutive nights. The IC Markets administrative fee for the swap-free accounts is:
ThinkMarkets Payment Options
ThinkMarkets is one of the few forex brokers in Thailand with the lowest minimum deposit of USD 0 (Standard Account). Joining the STP account will require a minimum deposit of USD 500. The deposit and withdrawal process can take less than 10 minutes, depending on the payment method used.
At ThinkMarkets, Thailand traders can use international payment methods with no withdrawal and deposit fees. The payment system includes 7 different methods:
In terms of supported deposit currencies, ThinkMarkets supports the most traded currencies USD, AUD, EUR, CHF, GBP, CAD and JPY. Additionally, this Australian-based firm also offers more modern payment options like Bitcoin, Ether and Bitcoin Cash through Bitcoin payment service provider BitPay.
Final Verdict On ThinkMarkets Account Types
Overall, ThinkMarkets trading accounts are tailored to be suited to any level of trading experience, skills and knowledge. Before you choose an account type, you can assess the ThinkMarkets trading conditions with a risk-free demo account. Click the button below if you want to start forex trading today.
Forex Panel Score
Average Spread
EUR/USD = 1
GBP/USD = 2
AUD/USD = 1
Trading Platforms
eToro Trading Platform
Minimum Deposit
$50
Why We Recommend eToro
Broker Details
The Top Broker With Social Trading Platform
eToro is a social trading platform founded in 2007 with more than 10 million active traders. The copy trading feature enables beginner traders to copy trades on 6 asset classes (indices, commodities, currencies, cryptocurrencies, stocks and ETFs). The regulatory agencies that supervise this Fintech company ensure it is safe and reliable to trade with eToro. They are licensed and authorized by 3 regulatory bodies:
eToro CopyTrader platform has an easy-to-use interface, and it’s very intuitive to work with. The copy trading platform can be accessed via a Web Trader platform and via a mobile App.
CopyTrader Feature
CopyTrader technology allows you to view how professional traders perform and copy them. Therefore, copying their profits and losses as well. The eToro social trading allows traders to:
The best performing traders on eToro are usually featured on their website. If you’re an experienced trader, you can join the Popular Investor Program where you can earn up to 2% on the assets under management. For example, if you meet eToro’s requirements and other traders with a total AUM of USD 100,000 start copying your signals, you can earn a passive income of USD 2,000.
Note* In 2019, eToro’s 50 most copied traders generated more than 29% yearly profits.
eToro’s Trading Fees
While there are no management fees to copy other traders or invest in CopyPortfolios, the underlying transactions do incur a fee that comes in the form of the spread. eToro is also free with the following online services:
Another general fee you can expect to pay is USD 5 on withdrawals, but this fee can be waived off if you become a Platinum member and make a minimum deposit of USD 25,000. Additionally, there is a USD 10 monthly inactivity fee if you don’t log in for 12 consecutive months.
Responsible Trading Policy
Copy-trading has some inherent risk, which is why eToro uses a responsible trading policy to help traders mitigate that risk. In this regard, eToro recommends to not risk more than 20% on any given trade or allocating more than 40% of your equity to a copied trader.
Additionally, eToro limits the maximum leverage following the guidelines of global financial regulators:
Final Words On eToro’s Social Trading Platforms
At the end of the day, eToro is the world’s biggest social trading network. However, the ability to make money on copy trading revolved around your ability to assess other traders’ performance. There is no guarantee that the copied trader will continue to make money in the future. All investments come with a risk. The minimum deposit to start copy trading with eToro is USD 200.
Forex Panel Score
Average Spread
EUR/USD = 0.8
GBP/USD = 0.8
AUD/USD = 1.7
Trading Platforms
MT4, MT5
Minimum Deposit
$100
Why We Recommend FOREX.com
Broker Details
The Broker That Has A Large Range Of Currency Pairs
Out of all the forex brokers accepting traders from Thailand, Forex.com offers the largest range of currency pairs. You can start forex trading on over 90 currency pairs including spot metals, transparent pricing, EUR/USD spread as low as 1.0 pips and no commissions.
Forex.com is a US-based brokerage trading firm. It’s actually the brand name of GAIN Capital Holdings which is a company publicly listed on the New York Stock Exchange (NYSE: GCAP). Founded in 2001, they are one of the oldest regulated forex brokers that follows the guidelines of 7 top-tier governing bodies worldwide, including:
Traders in Thailand will follow regulations from the Cayman Islands Monetary Authority (CIMA) License number 25033which is the regulator of the Cayman Islands.
In the table below, you can find the largest forex brokers in Thailand by the range of currency pairs.
| Forex.com | Pepperstone | FPMarkets | Go Markets | eToro | ThinkMarkets | |
|---|---|---|---|---|---|---|
| Number of Currency Pairs | +90 | +60 | +60 | +50 | +47 | +38 |
Forex.com Trading Conditions
At Forex.com, you can trade on the foreign exchange market using three different pricing models:
| Standard Account | Commission Account | DMA Account | |
|---|---|---|---|
| Currency Markets | +80 | +80 | +58 |
| EUR/USD Spread as Low as | 1.0 pips | 0.2 pips | 0.1 pips |
| Commissions | None | $5 per 100k | $60 per 1Mill |
| Platforms | MT4, MT5, Forex.com Desktop and Web Trading platforms | Forex.com Desktop and Web Trading platforms | Forex.com Desktop and Web Trading platforms |
| Recommended Balance | $1,000 | $1,000 | $25,000 |
| Market Maker model | Yes | Yes | No |
| STP and DMA Model | No | No | Yes |
| API Trading | Yes | Yes | No |
It’s important to note that the standard account and the commission-based account use a market-maker model. Market-making brokers make the market for their clients through their own dealing desk, without relying on external liquidity providers.
Forex.com also offers an agency execution model through their STP Pro account, which has direct market access.
Final Verdict On Forex.com
With over 200,000 retail investor accounts in over 180 countries, Forex.com is the best FX online provider. Additionally, traders can access over 4,500 financial instruments for more trading opportunities. Local traders can trade USD/THB with a spread as low as 3.7 pips and enjoy up to 15% in cash rebates if you’re a high-volume currency traders.
Forex Panel Score
Average Spread
EUR/USD = 0.3
GBP/USD = 0.9
AUD/USD = 0.4
Trading Platforms
MT4, TradingView, Trading Station
Minimum Deposit
$50
Why We Recommend FXCM
Broker Details
The Best Broker For Cryptocurrency And Bitcoin Trading
Compare Forex Broker’s top picks for the best bitcoin CFD trading brokers is FXCM followed by eToro. FXCM is the best overall for cryptocurrency trading. Thailand residents can find 7 of the world’s most traded cryptocurrencies on the market, along with a crypto basket. FXCM’s CryptoMajors Basket will give you exposure to the most popular 5 cryptocurrencies.
FXCM is a multi-regulated forex broker that follows the strict guidelines imposed by tier-1 agencies, FCA and ASIC and tier-two agency FSCA. Traders in Thailand can choose between FXCM Markets Limited based in Bermuda, which does not hold any regulatory license or Forex Capital Markets Limited, which holds an FCA regulatory license. Clients are encouraged by FXCM to join FXCM Markets, as FCA regulations may change in the future.
FXCM Cryptocurrency Trading
This brokerage trading firm offers the ability to go both long and short with leverage up to 4:1 on the following digital currencies: Bitcoin (BTC/USD) with an average spread of 26.23, Bitcoin Cash, Ripple, Ethereum, Litecoin, EOS and Stellar.
| Average Spread | Smallest Trade Size | Largest Trade Size | |
|---|---|---|---|
| Bitcoin (BTC/USD) | 26.23 | 0.01 BTC | 5 BTC |
| Bitcoin Cash (BCH/USD) | 2.93 | 0.1 BCH | 100 BCH |
| Ripple (XRP/USD) | 0.007 | 100 XRP | 10,000 XRP |
| Ethereum (ETH/USD) | 1.87 | 0.10 ETH | 100 ETH |
| Litecoin (LTC/USD) | 0.6 | 1 LTC | 1,000 LTC |
| EOS (EOS/USD) | 0.03 | 1 EOS | 1,000 EOS |
| Stellar (XLM/USD) | 0.0015 | 100 XLM | 10,000 XLM |
| CryptoMajors Basket | 2 | 34.70 USD | 200 Units |
Additionally, FXCM offers a CryptoMajors Basket that acts as a benchmark built to mirror the change in the price of the most traded cryptocurrencies. The Crypto basket includes Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash ABC. The CryptoMajors Basket offers a more cost-effective way to gain exposure to the cryptocurrency market as a whole.
At FXCM, cryptocurrency trading is available on all supported platforms of FXCM’s Trading Station (web, desktop and mobile trading) and MetaTrader 4.
Cryptocurrency CFD Trading Advantages And Risks
Speculating on the bitcoin price movements it’s possible through CFD trading. However, it can have both advantages and high risks due to the high volatility nature of these instruments. Some advantages of bitcoin trading with FXCM include:
The high risk of cryptocurrency trading comes due to volatility, weekend gapping and negative slippage. On the downside, FXCM only offers crypto trading on the weekdays, over-the-weekend trading is not allowed.
Final Words On FXCM To Trade Crypto
Based on our start scoring system, FXCM is the best overall for crypto and bitcoin trading. Clients residing in Thailand can get a USD 25 deposit bonus as a gift if you fund your account with an initial deposit of USD 50. Don’t miss out on your bonus, click the button below and collect it today.
Forex Panel Score
Average Spread
EUR/USD = 0.6
GBP/USD = 0.7
AUD/USD = 0.1
Trading Platforms
MT4, MT5
Minimum Deposit
$0
Why We Recommend HF Markets
Broker Details
The Best Broker With MetaTrader 5
HotForex was hand-picked as the best MetaTrader 5 specialist with micro trading. HotForex offers four different micro-lot account types on the multi-asset MT5 platform, 150 financial instruments, raw spreads (0.1 pips spread on EUR/USD) and 11 free funding methods.
Headquartered in Cyprus, HF Markets follows the financial guidelines of 3 tier-one regulatory bodies (CySEC, FCA and DFSA) and 2 tier-2 regulatory bodies (FSCA and FSA). Traders in Thailand will be signed with HF Markets (SV) Ltd which is registered in St. Vincent & the Grenadine with the registration number 22747 IBC 2015.
Forex Brokers With Micro Accounts
A micro account is a great solution for investors with small capital. Forex trading with a micro account allows you to trade with lot size as low as 1,000 units of a currency (or 0.01 of a standard lot), which is equivalent to USD 0.1 per pip.
HotForex allows micro lots trading on 4 trading accounts (including 49 currency pairs) with different trading conditions:
MT5 Platform Features
HotForex MT5 platform is supported across 5 different devices (desktop, web trader, iPhone, iPad and Android). MetaTrader 5 is designed to support multi-assets trading, whereas MT4 is a specialized forex trading platform. HotForex MT5 solution provides access to 8 different asset classes (forex, cryptocurrencies, metals, commodities, energies, indices, shares and bonds).
Additionally, HF Markets MT5 terminal offers an enhanced trading experience. Some MT5 advantages and benefits can be reviewed below.
Final Verdict On HotForex MT5 Offering
Overall, HotForex is the best broker that features the MetaTrader 5 platform along with micro-lots trading. You get to trade an impressive group of asset classes, variable or raw spreads, negative balance protection, segregated bank accounts and much more.
We recommend Pepperstone as the best forex broker for traders in Thailand. It’s a fully regulated broker with a trust score of 81. Plus, it’s one of the few brokerages offering currency pairs in THB.
Three accounts are on offer, featuring blazing-fast execution speeds and competitively low spreads. You will particularly like the Standard account’s $0 commission rate if you’re a newbie.
Pepperstone offers four trading platforms, including MT4, MT5,cTrader and TradingView and an even bigger selection of CFD trading options with over 1,200+ financial markets to pick from.
We think you’ll also be impressed by Pepperstone’s seamless account-opening experience, its top-tier multi-language customer service, and the high-quality educational materials on offer.
When choosing a forex broker in Thailand, you must consider the following:
It is quite simple to open a forex trading account once you have selected the regulated forex broker you wish to trade with.
| Open An Account | Complete your trader profile on the website. Upload your Know Your Customer (KYC) documents and ensure you read through the terms and conditions | ||
| Fund Your Account | You can deposit funds using bank transfers, credit and debit cards, and e-wallets. PayPal is a popular payment method in Thailand. |
||
| Start Demo Trading | Use your demo account to practise trading. You should also take advantage of any educational material available to learn how to trade efficiently. | ||
| Strategise | Put together a comprehensive trading strategy that suits your risk profile. These should be strategies you have tested on your demo account. | ||
| Trade On Live Accounts | You can now start trading. We recommend you begin trading with small amounts as you become familiar with live open market conditions. | ||
From our analysis, we found that IC Markets offers the lowest spreads with their RAW spread for Thai traders.
We found the broker was consistently tight with its spreads across 65 currency pairs and 186 CFDs. We last ran our comparison in January 2024 and found that IC Markets provides the tightest spreads overall.
You can opt for an MT4 and MT5 or cTrader Raw Spread account. Both offer a 0.1 pip spread and decently low commission rates. Additionally, we found that the Standard Account provides some of the best no-commission spreads available, with the EUR/USD averaging at just 0.62 pips.
High leverage is available, and you can enjoy a low deposit requirement of just $200. You can open a demo account with any of IC Markets’ trading platforms to get started.
|
RAW Account Spread Comparison
|
|||||
|---|---|---|---|---|---|
|
|
0.10 | 0.20 | 0.60 | 0.40 | 1.00 |
|
|
0.02 | 0.17 | 0.50 | 0.27 | 0.30 |
|
|
0.10 | 0.20 | 0.50 | 0.30 | 0.50 |
|
0.10 | N/A | N/A | N/A | N/A |
|
0.20 | 0.30 | 0.50 | 0.60 | 0.50 |
|
0.10 | 0.70 | 1.60 | 1.20 | 0.40 |
|
0.52 | 0.80 | 1.41 | 0.86 | 1.11 |
|
0.50 | 0.60 | 1.10 | 0.80 | 1.30 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Pepperstone is the forex broker in Thailand that has the best trading software with three powerful trading platforms; MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. All three trading platforms are user-friendly, offer fast execution speeds, and have excellent mobile functionality for traders who want to trade on the go.
OANDA is our top pick for beginner traders in Thailand. The broker is registered with five tier-1 regulators globally and has an impeccable trust score of 100/100 so you’re definitely in safe hands.
With a $0 deposit and $0 funding costs, this broker is easy to start with.
Two accounts are on offer – the Spread Only account with pips from 0.6 and the Core account with pips from 0.1. We’re particularly keen on the OANDA’s spread-only pricing model since it takes the confusion out of calculating your profits and losses.
OANDA gives you a dedicated account manager who we found extremely helpful and guided us through the account opening process. And you can get started with a demo account until you’re comfortable enough to jump into live trading.
FP Markets have leverage of 500:1, which is as high as you would need to trade with.
Depending on the brokerage, commissions range from $0 – $4.00 USD per lot side-ways USD. Commission costs apply to RAW or ECN-style trading accounts where spreads can be as low as 0 pips.
| Broker | USD Commission rate (sideways) | USD Commission rate (round-turn) |
|---|---|---|
| Pepperstone | $3.50 | $7.00 |
| FP Markets | $3.00 | $6.00 |
| IC Markets | $3.50 | $7.00 |
| ThinkMarkets | $3.50 | $7.00 |
| eToro | Spread-only | Spread-only |
| FOREX.com | Spread-only | Spread-only |
| FXCM | $4.00 | $8.00 |
| HF Markets | $3.00 | $6.00 |
Our analysis reveals that Pepperstone provides the best trading software for traders in Thailand.
While most brokers offer the industry-standard MT4 platform, Pepperstone combines it with competitive spreads, an easy account opening process, and speedy execution speeds. MT4 is available with both Pepperstone’s RAZOR and Standard account types.
We were also impressed with the range of MT4 tools and add-ons that Pepperstone provides.
For example, you can automate your trading “code free” with Capitalise.ai and integrate MT4 with Myfxbook Autotrade. Additionally, if you’re interested in copy trading, then you can link Pepperstone and MT4 with the popular DupliTrade platform.
Yes, forex trading is legal in Thailand and regulated by the Securities Exchange Commission (SEC) of Thailand. Residents of Thailand can deposit up to $15,000 per day into their forex trading accounts.
Yes! You can trade with an offshore broker in Thailand. The Securities and Exchange Commission of Thailand (SEC) regulates the Thai forex market and allows internationally regulated brokers to accept traders based in Thailand.
When considering a forex broker in Thailand, avoiding unregulated brokers is a good idea. With no oversight from regulatory bodies, your funds may be at risk.
Disclaimer: Beware of CFD Broker scams! Avoid brokers with low online trust scores and bad reviews. A good online reputation should lead to a better experience when trading with a broker.
Forex trading is taxable in Thailand and any gains from currency trading are subject to a 15% capital gains tax. If you engage in forex trading in Thailand, you must ensure you comply with local tax regulations and obligations.
Yes, you can trade with an offshore broker in Thailand but you should exercise caution and choose a trader that is regulated by a legitimate offshore authority that complies with international regulatory standards.
Conclusion On the Best Thailand Forex Brokers
Aside from the 8 broker reviews, there are other online trading providers we reviewed like Plus500, FXTM, IG Markets and OANDA that didn’t make the cut for the best forex brokers in Thailand. Our detailed forex broker reviews cover all elements of a good broker, including regulation, trading costs, spreads, leverage, range of financial instruments and trading platforms, account types, funding methods and so much more.
In Thailand, forex trading is a legal endeavor. The Bank of Thailand (BOT) is the main entity governing online forex trading activities. The BOT doesn’t enforce strict regulations for retail traders seeking to invest directly in financial securities and derivatives.
All international brokers listed in our review follow the guidelines of the world’s most respected regulatory agencies. These brokerage trading firms can solicit and offer their online services to residents of Thailand without breaking any laws imposed by the Bank of Thailand. There are some other international regulatory agencies that provide similar international protection to some agencies listed below. These include Financial Services Commission (FSC) and the International Financial Services Commission (IFSC).
Ask an Expert
Does Thailand have a local regulator?
The Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) are responsible for regulating forex trading in Thailand. Interesting, Thai residents are not allowed to trade with pairs involving the baht. There is no formal requirement that the broker is regulated by the SEC or BOT, therefore it is acceptable to use a broker based outside Thailand. As a trader, it is wise to use a broker that has some sort of formal regulator than to use an unregulated broker.
Where can I get the best exchange rate in Thailand?
Sorry, we don’t give advise about currency exchange rates, we are Forex broker comparison website for CFD trading.