With no regulator in Thailand, it is important Thai traders 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, spreads costs.
Here are our best forex brokers in Thailand
Updated: 10/06/2021
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Compare Forex Brokers team look at best forex brokers for Thai Traders
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, 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 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 forex traders.
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 favourably with other popular brokers:
To work out your trading costs, you can use our proprietary calculator below.
Commission
Spread Costs
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Note: We calculated Pepperstone’s trading fees using the ECN pricing model with raw spreads.
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.
Data taken from broker website. Accurate as at 04/06/2021
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Additionally, Thailand residents can trade the local currency Thai Baht (THB) against the US dollar. The Pepperstone’s Raw Spread account offers the following USD/THB spreads:
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:
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.
View Pepperstone Review >>Visit Pepperstone >>
FP Markets delivers the ultimate trading solution in terms of top tier trading platforms. This brokerage trading firm offers 10,000+ CFDs, avg execution speed of 40ms, and a no-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 centre 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 who 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 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:
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.
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.
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.
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 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.
Overall, 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.
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 clients have the option to choose between 6 distinctive trading account types. The most popular account types are the:
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 choose the ThinkMarkets Pro account. The pro account comes with high leverage settings, 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.
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 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.
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.
View ThinkMarkets Review >>Visit ThinkMarkets >>
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 technology allows you to view how professional traders perform and copy them. Therefore, copying their profits and losses as well. The eToro social trading platform 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.
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 waved 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.
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:
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 trader’s 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.
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 a brand name of GAIN Capital Holdings, Inc. 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 regulation from 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.
At Forex.com, you can trade on the foreign exchange market using three different pricing models:
It’s important to note that the standard account and the commission-based account use a market-maker model. Market making brokers makes 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.
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 trader.
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 licence or Forex Capital Markets Limited, which holds an FCA regulatory licence. Clients are encouraged by FXCM to join FXCM Markets, as FCA regulations may change in the future.
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.
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.
Speculating on the bitcoin price movements it’s possible through CFD trading. However, it can have both advantages and high risk due to the high volatility nature of these instruments. Some of the 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.
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.
View FXCM Review >>Visit FXCM >>
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.
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:
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 of the MT5 advantages and benefits can be reviewed below.
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.
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 endeavour. 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.
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.
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