Everything that is connected to trading in Thailand is regulated and overseen by the Bank of Thailand (also known as BOT). The Securities and Exchange Commission of Thailand (SEC) is the one mandated with the role of regulating capital and securities trading. When you get a first look at the sheer number of Forex brokers in Thailand you might get overwhelmed, but don’t worry most of them are not regulated by SEC or BOT and it doesn’t really take much research to find out.
When it comes to payment methods, traders will have the privilege of using some of the most popular options starting from Visa and Mastercard ending with e-wallets such as Skrill and Neteller.
The local currency of the country – the Thai baht, is not a major currency and not a lot of people use it for trading. However, you might still be able to find specific brokers that have THB available for traders based in Thailand.
The good news is that Forex trading in Thailand is not taxable, meaning that if you have to pay part of your profits to the government in other countries, you will not have to do it in the case of Thailand. Earnings from Forex trading are not subject to any taxes.
Finding a reliable Forex broker in Thailand might not be an easy task, especially if you are a newcomer to this industry. There are a lot of things that one should keep in mind, including regulations, trading features, currency diversity, etc. So, in order to save your time, money, and nerves, we decided to do a research for you. Below, you can see the names of the Best Forex trading platforms in Thailand that are considered secure and trustworthy.
5$
CySEC, FCA, ASIC
30$, 50%+20%
1:1000
2009
MT4, MT5, WebTrader
$100
CySEC, CBI, FSA, FFAJ, BVI FSC, FSCA, FSRA
1:400
2006
MT4, MT5, WebTrader, AvaTradeGO
USD 5,000
FINMA, FCA, ASIC, FSA, MAS, AFM
N/A
1:30
1992
SaxoTraderGo, SaxoTraderPro
$5
SVGFSA, FCA, DFSA, FSCA, FSA
From 30% to 100%
1:1000
2010
MT4, MT5
15
CySEC
30%
1:500
2015
MT4, WebTrader
$250
FSCA
1:200
2012
MT4, WebTrader
100$
FCA
N/A
30:1
2008
Custom
$10
Risk Warning: YOUR CAPITAL MIGHT BE AT RISK
N/A
1:1000
2013
Proprietary
10 USD
FCA, CySEC, FSA
N/A
1:Unlimited
2008
MT4, MT5, WebTerminal
$10
N/A
N/A
1:500
2019
MT4, custom
$10
1:500
MT4
250$
FCA, NFA
N/A
200:1
1999
MT4
$25
ASIC, CySEC, FSA, BVI
50%
1:400
2001
WebTrader, MT4, TradingView
100
FCA, CySEC, DIFC, CIMA
N/A
500:1
1977
MT4, MT5
$100 AUD
ASIC
N/A
500:1
2005
WebTrader, MT4, MT5, IRESS
AUD$200
ASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA
N/A
1:400
2010
MT4, MT5, cTrader, TradingView
250 EUR
FSA (Seychelles)
None
1:200
2023
FXRoad web & mobile platforms
$50
N/A
N/A
1:500
2015
MT4
1 USD
ASIC, FCA
10 USD
1:500
2005
MT4, MT5, WebTrader
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
To be on top of the game when it comes to the Thai Forex market, you need to be aware of how the BOT & SEC operate. In this section, we are going to do that exact thing.
The Bank of Thailand was basically formed to gain more control over the economy, the Thai economy was a bit jumpy in the older days so it desperately needed the attention it got, but the question remains if it still needs that rigorous attention. This question, however, is asked mostly by foreigners, not locals, therefore all the top-notch Thailand FX brokers follow the rules, even the rule of Baht speculation being illegal. However, trading in Thailand can be as easy and stress-free as anywhere else when you’ve found yourself a credible broker. Below you can see the list of the roles that BOT performs:
1992 is the year that the Securities Exchange Commission (SEC) was established under the Securities and Exchange Act. It is an independent public agency whose duty is to ensure the supervision of Thai capital and the creation of its efficiency and transparency. While SEC supervises duty performance of SET – Securities Exchange of Thailand, Forex trading is under the direct supervision of the Bank of Thailand. Forex trading activities in the country are also under the control of SET with SEC regulations.
Currently, all Thailand Forex brokers and traders located within Thailand are not supposed to use Baht as a pair in their trading. This was done so that the BOT would be able to take full charge of the currency. Foreign Exchange Regulations were updated in 2017 when the BOT made some changes. It is stated in the update that a Thai person can invest in securities abroad at an amount not exceeding $1 million per year.
Licensed under CySEC and FAC this is the sentence that you need to be seeking because this means that they have the support of the BOT. It is, therefore, very important to make sure that the broker of your choice is not only very reputable in Thailand but the rest of the world as well.
Register with a regulated broker – XM
Believe it or not, Forex trading is not taxed at all in Thailand. According to the new tax regime in the country, profits that an individual earns from trading, are not subject to any taxes, so if you are someone who does not love giving up part of his/her earnings to the government, then Thailand might be a dream-come-true.
Generally, in most countries profits earned from trading are subject to either special trading or capital gains taxes. The free nature of trading might be a perfect reason for traders to choose Thailand as a location for starting their trading journey.
As we already mentioned, the local currency of the country is Thai baht, which is not a major currency and not a lot of people use it for trading. That’s why we recommend local traders to go for other options such as USD. The majority of reputable and popular FX brokers such as XM Group, IQ Option, HotForex, and AvaTrade, have accounts/currency pairs available for USD, and additionally, they gladly accept players from Thailand.
Currently, there is no cap on leverage for Thailand Forex brokers, but that does not mean that dealing with high ratios is a good idea. The good news is that you can control things yourself. The industry’s average right now is somewhere between 1:200 and 1:300, and if you ever come across something that is higher than that, it might be a red flag – especially with unregulated brokerage companies.
Generally, the majority of reputable financial regulatory bodies restrict brokerage companies from putting up high leverages – this is due to the simple fact that leverage can not only bring you good profits but can also result in huge losses. We advise you to always go for platforms that restrict it, so that way you are safe and protected.
There is a variety of payment methods available in Thailand, so choosing the most suitable one will not be hard. You can either choose debit/credit cards such as Visa and Mastercard, or e-wallets Skrill and Neteller. PayPal is one of the most popular payment options among Forex traders and the majority of Thailand Forex brokers offer deposits and withdrawals with it.
One thing you might want to keep in mind is that each of these payment systems comes with its own requirements and specifications. For instance, PayPal can be the most comfortable when it comes to transaction speed (around 1 working day), while wire transfer can take up to as many as 10 working days. Make sure you check out all the information before choosing a specific option so your trading experience is comfortable & enjoyable.
Start trading on XM using PayPal
The first thing everyone should be looking out for while trading is legitimacy. This is important because you are going to trust a specific platform with your financial assets, therefore, you need a guarantee that your money is in safe hands. With unlicensed brokers, there is a high chance of losing money, as they are not regulated by any financial companies that later can take all the necessary actions and protect you from negative financial consequences. There are few ways you can protect yourself against fraud and identify the scam Forex brokers immediately. Therefore the road should be clear for you to start checking all the reviews and preparing your critical mind to find the smallest of details before you start trading in Thailand.
One of the first times that scams appeared in Thailand was in July 2016, when about 30 people filed reports about how they got scammed and lost all their money. Furthermore, a police investigation found out that nearly 1,000 people had been swindled and lost a combined sum of $2.8million. Most of the time people who get scammed easily are the most unprepared ones in the Forex market. This particular scam broker, which pretended to be the best Forex broker in Thailand, offered the traders 60% returns on their trades. This is a huge amount of returns for Forex and is generally a sign that the broker will not fulfill the promise.
To make sure that you are ready for your trading journey and know all the basics, you can check guides for beginner traders in Forex, as well as trading strategies that can help you perform better and enjoy the trading process as much as possible.
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