Best Forex Brokers in Thailand

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Contributor, Benzinga
January 11, 2023

Though only a few online brokers have offices in Thailand, many foreign brokers gladly accept accounts from traders residing in the country. Foreign brokers’ strict regulatory environments may actually make them better and more secure choices than local brokers. If you live in Thailand and want the best forex brokerage possible, keep in mind that forex brokers can differ significantly in the terms and services they offer. Carefully assess your specific trading needs to make sure they’ll be met before funding a forex trading account with any broker.

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers in Thailand

Benzinga put together the top picks for forex brokers for currency traders in Thailand. Here is who made the list.

  • Forex.com
    Best For:
    Forex Trading in and Outside the U.S.
    securely through Forex.com's website

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • HYCM Capital Markets
    Best For:
    Straightforward MetaTrader Platform Experience
    securely through HYCM Capital Markets's website
  • eToro Forex
    Best For:
    Demo Accounts
    securely through eToro Forex's website

    CFD trading is not available to U.S. users. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

  • AvaTrade
    Best For:
    Non U.S. Forex Traders
    securely through AvaTrade's website

How Trading Forex in Thailand Works

The first thing you need to know about trading forex in Thailand is that Thai nationals are not permitted to trade speculatively in their own local currency. Known as the Thai baht (THB), a unit of this currency is divided into 100 stang.

According to the Bank for International Settlements, the Thai baht was the 23rd most-traded currency in 2016. With respect to local financial regulation, the Bank of Thailand (BOT) supervises the financial system in Thailand and the Securities and Exchange Commission (SEC) of Thailand regulates capital markets and securities which trade in the country.

The BOT began to reform forex regulations in 2017 to improve the ease of doing business. Revised regulations now allow those in the private sector to perform forex transactions and hedge currency risks based on internal control standards and risk management policies as long as they conform with the BOT’s framework.

Thailand has a general lack of reputable forex brokers based in the country itself, although Thai residents can easily fund and trade forex via accounts held with foreign brokers. You submit to regulation in the location where their operations are situated.

What to Look for in a Forex Broker

In general, the best online brokerage is one that:

  • Accepts you as a client
  • Is well regulated
  • Has a good reputation
  • Offers all currency pairs and other assets you wish to trade
  • Provides a sufficient leverage ratio for your trading strategy
  • Requires a minimum deposit you can afford
  • Has competitive dealing spreads
  • Minimizes order slippage
  • Offers negative balance protection
  • Segregates client accounts
  • Has the deposit and withdrawal methods you prefer to use

Another very important factor to take into account is what sort of trading software the broker supports. Some offer their own proprietary trading platforms to clients, while others rely largely on third-party platforms. Financial institutions must choose their business models, and many offer foreign exchange trading on differing terms. It’s best for you to choose the platform that makes you the most comfortable.

Most online brokers should also support the MetaTrader 4 or 5 trading platforms available free of charge from MetaQuotes. This very popular third-party forex trading software has desktop, web and mobile versions available and it supports fully automated trading. The foreign exchange market allows you access to foreign currencies from around the world, and the choice can make it easier to manage your portfolio with automated trades.

It also offers extensive technical analysis and charting functionality, position management features and a news feed for fundamental traders. Furthermore, some online brokers allow you to trade the stock market indices for various exchanges, as well as individual stocks or commodities by using contracts for difference (CFDs). Make sure to look for that feature if you wish to trade assets other than currency pairs.

The Best Forex Brokers in Thailand

Select from among the well-regulated online brokers listed below. If you are not fluent in English, you may want to choose one with a website translated into Thai and a customer service desk staffed with people who speak Thai. Quite a few of the major global forex brokers already have a version of their website translated into either English or Thai.

These include FXCM, FxPro, XM and others. Furthermore, some brokers even have offices established in Thailand, such as FBS, for example. It would be even better if the broker has an established office in Thailand since local representation tends to make a broker more responsible.

The reason for this is because legal action can then be taken in Thailand rather than bearing the extra cost and litigating abroad. Certain Thailand-based brokers, like Forex-3D, for example, do not appear to have the same rigorous licensing and regulatory oversight as those based in the United States, U.K., EU and Australia and aren’t recommended. Select the best forex broker for your needs based on your particular situation.

The services and account options are described below:

Best Overall: FOREX.com

FOREX.com is the top U.S. forex broker in terms of client assets. In addition to its regulation by the NFA and CFTC in the United States, the broker also submits to regulation in seven additional jurisdictions, including Australia, the U.K., Canada, Japan, Hong Kong, Singapore and the Cayman Islands.

You can fund a FOREX.com trading account with only $250 and you can also trade micro lots in case you want to fine-tune position sizes or deal lower amounts for practice trading. The broker also segregates client accounts from its own and provides an Islamic account option.

The company offers several desktop, mobile and web-based platforms, including the ever-popular MetaTrader 4 and 5. FOREX.com also supports NinjaTrader and offers clients high-quality mobile trading. The broker also lets clients use its in-house Advanced Trading Platform and its Web Trading platform.

The forex broker only has a low maximum leverage ratio of 50:1 for clients who trade currency pairs. You can check out the broker’s official website for additional information at FOREX.com.

Read Benzinga's full FOREX.com Review

Get a Forex Pro on Your Side

FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
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  • Monthly cash rebates of up to $9 per million dollars traded with FOREX.com’s Active Trader Program

Learn more about FOREX.com’s low pricing and how you can get started trading with FOREX.com.

About Jay and Julie Hawk

During her financial career, Julie developed world-class expertise in technical analysis, including Elliott Wave Theory, and was deeply involved in initiating research into automated trading and trading signal systems. As a member of the San Francisco Writers’ Guild, Julie regularly wrote trade strategies, educational material, market commentary, foreign exchange newsletters, reports, articles and press releases. In addition, Julie was interviewed for various financial markets magazines and news wires in her professional capacity as a forex and derivatives expert. Since retiring from working at banks, Julie has been writing and editing books and articles about financial markets for companies like Benzinga, as well as trading forex online and mentoring other traders as part of TheFXperts’ financial team.

In addition to trading stock index, forex and commodity futures and options professionally on exchange floors, Jay also has experience trading stocks and options for private investors and trading forex online for his own account. He has also developed extensive experience in performing and using fundamental economic and corporate analysis to inform his trading and investment activities. Jay is also an expert financial writer with particular expertise in reviewing online brokers and investor services.