Looking for top forex brokers in Thailand? Based on our hands-on analysis, we’ve identified 9 best options tailored to various trading needs. Practical tips from our experts are included.
In Thailand, the Securities and Exchange Commission (SEC) regulates CFD and Forex markets. The SEC ensures brokers adhere to strict guidelines, including capital adequacy and client fund protection, to maintain a transparent and fair trading environment.
Additionally, brokers must obtain a license from the SEC, which includes compliance with anti-money laundering laws and investor protection measures. The SEC actively monitors market activities to prevent fraud and uphold market integrity. Thai residents can trade with international brokers but should exercise caution and ensure these brokers comply with international regulatory standards and local Thai financial regulations.
Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.
This analysis, along with my own personal trading experience, has led to the findings and research below for the best forex brokers in Thailand.
Exness is a multi-regulated forex and CFD broker that ranks the best for Thai traders due to its diverse services and affordable accounts. Headquartered in Cyprus and founded in 2008, Exness has quickly asserted itself for its low trading fees, choice of over 230 tradable instruments, and availability of MetaTrader 4, MetaTrader 5, and the broker’s proprietary platform – the Exness Terminal.
Regional Features:
I conducted my tests on a Standard account, which features commission-free trading and floating spreads from 0.2 pips. However, I also discovered that the broker’s spreads are closer to 1.0 pips. Still, the combination is better than the industry average and is suitable for implementing all kinds of trading strategies.
Exness also has a low minimum deposit requirement of only $200, making its trading accounts quite affordable. There is effectively no limitation on the maximum leverage allowed, which is especially suitable for volatility trading but risky to inexperienced traders.
Exness’ proprietary platform is quite versatile and easy to navigate. It features more than 150 technical indicators and drawing tools and a variety of other chart configurations, making it useful for conducting penetrating technical analysis. Additionally, the platform is integrated with Trading Central, providing users with access to actionable trading signals directly from the Exness Terminal.
If you’re looking for a forex broker that provides a range of zero-commission trading accounts, with high leverage, then FBS could be an option for you. Founded in 2009, FBS is authorized and regulated by the CySEC, ASIC, FSCA and IFSC Belize, providing three different trading accounts for Thai residents to trade on more than 182 financial instruments with up to 1:3000 leverage on forex.
Regional Features:
During our live test, I found that FBS offers traders from Thailand access to 3 different trading accounts which come with a range of different features.
After opening a live Standard Account to test the live spread for EUR/USD, I found that it averaged 0.95 pips during the London and New York session. As all three accounts have zero commission, this spread is better than the industry average of 1.0 pips.
Each account type offers very high leverage from 1:1000 to 1:3000 from the entity regulated by the IFSC Belize. The entities regulated by CySEC and ASIC are restricted to offering a maximum of 1:30 leverage for forex pairs. But while high leverage can help to amplify gains, it also does the same to losses so risk management will be important.
I also found that there is a range of bonuses and promotions available for all three accounts. This includes a 100% deposit bonus and cashback on your trades (but only available when using FBS Trader). The cashback offer means you could earn up to 5% of the spread when trading up to 13 lots, 10% of the spread when trading from 14 to 33 lots, 15% of the spread from 34 to 59 lots and 20% from 60 lots and above.
AMarkets is a derivatives broker founded in 2007 in Comoros. It offers a choice of more than 560 tradable instruments across different asset classes, including currency pairs, metals, energies, bonds, share CFDs, indices, and cryptocurrencies.
Regional Features:
AMarkets impresses with its ultra-fast execution speeds of as low as 0.03 milliseconds, suiting the needs of high-precision traders like scalpers. The broker also offers Virtual Private Services (VPS) hosting for low-latency trading.
I tested AMarkets by opening an ECN account, which is better suited for high-frequency trading.
The account type has a minimum deposit of $200, making it quite affordable. The pricing mechanism is also quite competitive. It features a $5 round-turn commission per traded lot (100,000 units) and raw spreads from 0.0 pips. I assessed that this combination falls below the industry average.
The broker incorporates the industry-renowned MetaTrader 4 and MetaTrader 5. I prefer the latter one as it offers more than 70 analytical tools and chart configurations, as well as all basic order types: market, limit, and stop. The platform has a built-in strategy tester, making it a good choice for those interested in automated trading.
Established in 2005, FP Markets has entities authorized and regulated by ASIC and CySEC with one unregulated entity based in St. Vincent and the Grenadines. You can trade on 850+ financial instruments from the MT4, MT5, and cTrader platforms.
Regional Features:
During our live test, I was impressed by the number of platforms FP Markets provides its users. You can trade from MT4, MT5, and cTrader which – from my own experience – are all exceptional forex trading platforms. The broker also provides extra trading tools to aid your trading.
This includes the use of AutoChartist and Trading Central. I enjoy using AutoChartist as it finds real-time technical analysis patterns across a range of timeframes and markets. I find it to be useful in speeding up the research and analysis time which is important if you are more of a short-term trader.
There are two account types available for traders in Thailand: the Standard and Raw accounts. While the Standard is a commission-free account, the Raw account charges a competitive commission per lot, per side, of 3 USD, which is better than the industry average of 3.50 USD.
Both account types offer ECN pricing which means price quotes are sourced from multiple liquidity providers to provide the best possible execution price. During our live fee test, I found the spread for EUR/USD during the London and New York session averaged 1.0 pips which is the industry average for a commission-free trading account.
Established in 2019 and based in Seychelles, FXGT.com operates through three entities worldwide. The broker supports cryptocurrency payments, offers a comprehensive selection of crypto CFDs, and grants access to synthetic cryptocurrencies. With its versatile offerings, FXGT.com caters effectively to the needs of crypto traders, enabling them to navigate and prosper in the highly volatile and dynamic cryptocurrency market.
Regional Features:
FXGT presents Thai traders with a diverse portfolio of over 150 instruments, including forex, stocks, indices, commodities, cryptos, NFTs, and DeFi tokens. It stands out for its unique synthetic cryptos, like Bitcoin paired with Apple (BTCAPL) or Oil (BTCUSO), offering novel trading opportunities.
The GTi12 crypto index, encompassing 12 cryptocurrencies, provides a comprehensive market overview. Available through the FXGT Pro account on MT4 and MT5 platforms, it offers zero commission and low overnight swap fees. Our assessment revealed a competitive BTC/USD spread averaging $5.52, surpassing industry norms.
Founded in 2020, Moneta Markets is authorized and regulated by the FSCA, FSA Seychelles, and has one unregulated entity based in St. Lucia. It provides an excellent range of trading tools for traders in Thailand, which include Feaured Ideas, Market Buzz, a live economic calendar, Technical Views, Moneta Markets TV, and more.
Regional Features:
During our live test, I found that Moneta Markets provides an excellent range of trading tools from Trading Central and TradingView. This includes access to Market Buzz which covers the latest market news and social media chatter across 35,000 tradable instruments and 300+ currency pairs. The Featured Ideas section provides real-time technical analysis trading ideas with a detailed explanation behind them.
I found the live economic calendar to be very useful as it automatically configures your own timezone and provides real-time economic news data. Within the trading tools offered by Moneta Markets, there is a package of additional MT4 indicators, which includes adaptive candlestick scanners and real-time pattern recognition tools.
Our live fee test showed the average spread for EUR/USD during the London and New York sessions averaged 0.15 pips on the Prime ECN account, which has a competitive commission of USD 3 per lot per side. With access to 1,000+ tradable instruments from the MT4 and Pro Trader Web platform powered by TradingView, there are plenty of tools for traders in Thailand.
Founded in 1974, IG is a reputable broker, listed on the London Stock Exchange. Its user-friendly yet feature-rich web platform and mobile app offer access to over 17,000 markets, free trading signals, real-time market news, and advanced charting capabilities.
Regional Features:
IG provides a wide selection of trading platforms tailored to different types of traders. The IG web platform and mobile app cater to both beginners and advanced traders, offering seamless access to a vast collection of over 17,000 markets across all global asset classes.
The web platform is user-friendly, intuitive, and highly customizable. It features advanced tools such as one-click trading, the ability to trade directly from charts, and access to client sentiment data. There are also built-in trading signals from Autochartist and PIA First covering major forex, indices, and commodities across different timeframes.
The built-in market news section is an excellent tool for staying up to date with the latest news announcements and viewing market research and opinions from IG’s in-house analysts. For algorithmic traders, IG supports the popular MetaTrader 4 and ProRealTime. The latter allows users to create and backtest automated strategies without the need for coding knowledge.
For those who want to learn more about trading, the broker offers IG Academy, which features a wealth of educational content such as trading courses, webinars, platform tutorials, and more.
If you prioritize trading with a broker that provides the most competitive trading fees in Thailand then IC Markets may be a good option for you. Founded in 2007, IC Markets is based in Sydney, Australia, and is authorized and regulated by CySEC, ASIC, SCB, and the FSA of Seychelles, providing access to more than 2,250 financial instruments from the MT4, MT5, and cTrader platforms.
Regional Features:
IC Markets is considered the ‘go-to’ broker for serious forex traders who want access to raw spread interbank pricing, no requotes, and no limitations on strategies or how close your orders can be to the live market price.
The trading accounts available for Thai traders depend on whether you trade from the MetaTrader or cTrader platforms. Here is a breakdown of what is available:
After opening a live trading account and testing the broker’s fees, I found the spread during the London and New York session for EUR/USD was 0.6 pips and averaged 1.35 pips for GBP/JPY.
From my years of trading experience, I found these to be very competitive. The average spread for EUR/USD on a commission-free trading account is 1.0 pips – with IC Markets this is nearly halved. I have seen some brokers quote more than 5.0 pips for GBP/JPY, so the IC Markets spread of 1.35 pips is also very competitive.
For the commission-based accounts, the $3.50 fee per lot, per side for MetaTrader and the $3.00 fee per lot, per side for cTrader are in line with the industry average. One unique feature I enjoyed was that IC Markets has no order distance restriction which means you can place orders very close to the current market price.
If you’re interested in capitalizing on the best features of the popular MetaTrader 4 platform and accessing additional trading tools for it, then Vantage might be for you. Founded in 2009, Vantage is based in Sydney, Australia, and is authorized and regulated by ASIC, VFSC, FSCA, and CIMA. It provides more than 900 financial instruments to trade on via MT4, complete with an upgraded Smart Trader Tools package.
Regional Features:
Vantage has a top-notch MT4 offering. All the standard MT4 features are available including use of the platform on desktop, web, and mobile, 80+ technical indicators, 30+ drawing tools, multiple chart and order types, and the ability to access the MetaTrader marketplace for customized indicators and algorithmic trading strategies.
In my live trading test of Vantage, I also found that you can upgrade your MT4 with the Smart Trader Tools package. This is a suite of extra trading tools and indicators for MT4 and includes a mini-terminal, sentiment trader indicator, correlation matrix, and alarm manager.
From my personal trading experience, I enjoy using the correlation matrix indicator. It is a great risk management tool to ensure you’re not trading markets that are too correlated with one another. The alarm manager can also be useful as you can set price alerts around certain price levels.
As copy trading is now a big thing in Thailand, Thai traders may enjoy the fact you can connect your Vantage MT4 account and join the Vantage Social League. This can be accessed through the Vantage trading app, allowing you to copy other traders.
Here are some key points to consider when choosing a forex broker in Thailand.
In my experience, choosing a regulated broker is extremely important. f a broker isn’t supervised by a financial regulator, your funds may be at risk, trade execution might not follow best practices, and you may have no recourse if they take your money.
Opting for a broker regulated by a government financial body increases safety and peace of mind. However, not all financial regulators are equal. In our broker rating reviews, we classify regulators into three tiers:
The Central Bank of Thailand and the Securities and Exchange Commission of Thailand regulate the Thai Baht to ensure liquidity in the system and oversee financial institutions.
However, they do not regulate the activities of forex brokers but do allow internationally regulated brokers to operate in Thailand. This means you can trade with a tier 1 regulated broker from Thailand, providing the highest level of safety and security.
In my experience, it is best to stay clear of unregulated brokers as there is no recourse if they take your capital. Check out our guide on the best regulated forex brokers.
A broker’s fees can be divided into trading and non-trading fees. Trading fees cover the opening, closing, and holding of positions and include the spread, commission, and swap fees.
The spread refers to the difference between the buying and selling prices. Ideally, a lower spread is preferred. In our broker rating reviews, we consider a spread of 1.0 pip on EUR/USD on a commission-free trading account to be the industry average.
A commission may also be charged for opening and closing positions. While some brokers offer commission-free trading, others offer lower spreads with commission-based trading. In our broker rating reviews, we consider a commission of $3.50 per 100,000 units of currency traded to be the industry average.
The swap fee is an overnight fee for positions held using leverage or margin, such as CFD products. It varies based on the currency’s interest rates and broker markup. Closing trades before the end of the trading day (around 10 p.m. London time) usually helps avoid swap fees, but long-term traders should be cautious.
Non-trading fees include charges for dormant accounts or periods of inactivity, as well as fees related to deposits and withdrawals.
You can check your trading fees in Thailand by opening a demo trading account with a broker. This allows you to test the services risk-free to identify if they are suitable for you.
Brokers provide various types of trading accounts to cater to different needs in the financial markets. These differences usually revolve around the execution model or the minimum deposit requirements.
Execution account types include:
ECN accounts often offer competitive spreads, but they usually involve commissions. It’s important to check the commission rates and make sure they are at least in line with the industry average, if not better. Regulated brokers are obligated to be transparent about their execution types, so you can find this information in their legal documents and terms and conditions.
Brokers may also offer account types based on minimum deposits. For instance, a Standard Account might require a minimum deposit of $100, while a Premium Account may have a minimum deposit of $5,000. Higher account balances typically come with benefits like lower spreads, reduced commissions, and more trading tools.
It is essential to research and understand all the account types offered by a broker before making a decision. You can test different account types by opening a demo trading account, which allows you to trade in a virtual environment and practice without risking real money.
CFD brokers exist primarily for leveraged trading. This trading method allows you to control a larger position with a smaller capital amount by borrowing funds from your broker.
Leverage-based trading, also known as margin-based trading, involves the broker lending you capital to trade a larger position. The broker charges interest on the borrowed funds, typically referred to as the swap fee. This approach enables the potential for larger profits, but it also carries the risk of larger losses.
The margin required to open a trade varies depending on the instrument and the regulatory body overseeing the broker. Retail CFD brokers regulated by tier 1 regulators like CySEC or the UK FCA often offer a maximum leverage of 1:30. This means you can open a position that is 30 times larger than the capital you invest.
However, as Thailand’s financial authorities do not directly regulate forex brokers, some brokers are based offshore in tier 3 jurisdictions that may offer much higher leverage of 1:500 or even 1:1000. This can be great for the experienced trader, but beginner traders should be careful using too much leverage as it amplifies both wins and losses.
Many retail trading brokers offer the popular MetaTrader 4 and MetaTrader 5 trading platforms, which are accessible through desktop, web, and mobile devices. The desktop platform typically offers the most extensive range of features, including automated trading capabilities.
It’s also worthwhile exploring the broker’s proprietary trading platform, as these platforms often provide additional features such as sentiment indicators, real-time news, and trading ideas. You should assess your specific trading needs and choose the platform that best meets those requirements.
I personally find having access to multiple trading platforms is important. It ensures uninterrupted trading even if one platform experiences technical issues. This allows you to continue your trading activities seamlessly without any downtime.
While MT4, MT5, and cTrader platforms are commonly offered by retail forex brokers, they do require a learning curve. If you’re a beginner, you may prefer the broker’s web platform or mobile trading app. Explore our guides on the best MT4 brokers, best MT5 brokers, and best cTrader brokers.
In my experience, it is wise to avoid brokers that are not regulated by a recognized financial authority. A key indicator of the brokers’ credibility and the safety of your investment is regulation.
The main regulators in Thailand are the Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC), but your broker may be governed by a foreign regulator. In that case, make sure they are highly reputable.
You should also be on guard of brokers with unclear fee structures. Always make sure you understand the fees for transactions, withdrawals, and account maintenance. Another red flag is poor customer service. Your broker should always have quick and easy-to-reach customer support.
Forex and CFD scams are not uncommon in the financial world, but with research and awareness, you can avoid them relatively easily. Here are three simple steps to avoid forex and CFD scams:
Another good tip is to educate yourself – the more you know about forex and CFD trading, the less likely you are to be scammed.
FXEmpire has been a pioneering source for broker reviews, continuously enhancing our evaluation methodology to keep pace with industry changes.
Our rating system encompasses nine core categories: trust, fees, platforms and tools, tradable instruments, customer service, deposit and withdrawals, account types, research, and education.
Within each category, we analyze over 250 data points, comparing brokers to determine how their offerings measure up against the industry average. This comprehensive evaluation process empowers our readers with the confidence to choose the right broker.
For selecting the best forex brokers in Thailand, I have leveraged the insights from our research team and further refined the brokers based on the following factors and my own personal trading experience
Through comprehensive research and analysis of these factors, I have curated a list of the top brokers in Thailand for you to explore in-depth. I recommend you test a broker’s features using a demo trading account. This allows you to experience the platform firsthand before making your final decision. Get an insight into our expert guide on the best forex demo account.
The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.