Best Forex Brokers in Vietnam of 2023

Since 2011, we’ve traded with and reviewed over 150 brokers in Vietnam. To find the best brokers in Vietnam for you, we’ve dedicated over 50 hours per broker, exploring more than 250 factors across 9 key areas. We’ve then compared them to identify the top performers in various categories. With decades of combined experience, our team of trading experts provides reliable and trusted opinions.

By: Jitan Solanki
Reviewed By: FX Empire Editorial Board
Updated: Nov 16, 2023
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Vietnam is now one of the fastest-growing economies in the world. The shift in working from agriculture to services and manufacturing has helped its citizens to have more disposable income than ever before.

As individuals seek out opportunities to grow their income, the demand for forex trading has also risen. While trading forex in Vietnam is legal, the State Bank of Vietnam (SBV) only regulates the flows of the Vietnamese Dong to ensure proper market liquidity.

Since Vietnamese legislation does not have any specific regulation for forex trading, Vietnamese traders may opt to choose a forex broker authorized and regulated by a recognized, well-established international regulator of brokerage firms.

Our team of experts has researched and identified some of the best forex brokers accepting traders from Vietnam. I detail these findings below, along with my own 15-year trading experience, to help you choose the best forex broker for your needs.

List of Top Forex Brokers in Vietnam

  • IC Markets – Best Overall
    Raw zero-spread trading accounts. Low trading commissions and spreads. MT4, MT5, cTrader platforms. High leverage for forex trading.
  • TMGM – Best for Advanced Traders
    Competitive trading fees. MT4, IRESS platforms. High leverage for forex trading. Bonuses for Vietnamese traders.
  • Errante – Best for Copy Trading
    MT4, MT5, cTrader. Easy-to-use copy trading tools. Commission-free trading accounts. Become a signal provider and receive performance fees.
  • Moneta Markets – Best Account Offering
    Commission-free trading account. ECN trading account with competitive commission. 1,000+ tradable instruments. MT4, Pro Trader Web, CopyTrader App.
  • BDSwiss – Best MT4
    BDSwiss Web Trader synchronized with MT4. Autochartist MT4 plugin for automated trading ideas. MT4 VPS service. Bonuses for Vietnamese traders.
  • FXTM – Best for Beginners  

    Free daily market analysis. Educational videos and articles. Commission-free trading and demo accounts. Bonuses for Vietnamese traders.
  • XTB – Best Low Spreads
    Zero-commission trading accounts. Competitive spreads. XTB xStation platform web, desktop, mobile. High forex trading leverage.

How Did FX Empire Select the Best Brokers in Vietnam?

To identify the best forex brokers accepting Vietnamese traders, I employed the data from our 250-point broker rating review checklist which is used when reviewing brokers by opening a live account and testing their services. I have also focused on the following key features:

  • I ensured each broker has a high level of trustworthiness, provided by top-tier global regulations from established regulators.
  • I prioritized brokers that provide Vietnamese payment methods for deposits and withdrawals.
  • I checked for any bonuses or promotions for Vietnamese clients.
  • I explored brokers’ spreads and commissions to ensure that they are low.
  • I analyzed trading platforms to make sure they are user-friendly and feature-rich.
  • I focused on brokers that provide a Vietnamese version of their website.
  • I checked if brokers offer customer support in Vietnamese and during local business hours.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s take a closer look at the selected brokers.

Best Overall

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
  • Min Deposit
  • Tradable Instruments
  • Fees

If you want to trade with a well-established broker that provides the best overall trading experience for traders in Vietnam, then IC Markets could be a good option for you. Launched in 2007, IC Markets is authorized and regulated by ASIC, CySEC, SCB, and the FSA Seychelles providing access to raw spread, low-fee, zero requote trading accounts from the MT4, MT5, and cTrader trading platforms.

Regional Features:

  • IC Markets entity authorized and regulated by the FSA of Seychelles.
  • Leverage: up to 1:500 on forex pairs.
  • More than 14 Vietnamese payment methods including Vietnamese Internet Banking, RapidPay, PayPal, Netller, Skrill, credit/debit cards, and more.
  • A Vietnamese version of the website with customer support during local working hours in Vietnam.

IC Markets has long established itself as the ‘go-to’ broker for serious, high frequency, and high volume forex traders. I was seriously impressed with the broker’s fees in which you can access raw spread interbank market pricing, zero requotes, and limitations on trading strategies.

But, every account, platform, and service is easily accessible and suitable for advanced and beginner traders. The account options and fees for Vietnamese traders depend on whether you trade from MetaTrader or cTrader trading platforms, as detailed below:

  • Standard Account (MT4/MT5): Zero commission. Spreads from 0.6 pips.
  • MetaTrader Raw Spread account: Commission of $3.50 per lot, per side with spreads from 0.0 pips.
  • cTrader Raw Spread account: Commission of $3.00 per lot, per side with spreads from 0.0 pips.

During the course of our live fee test, I found that the spread for EUR/USD during the London and New York session on a Standard Account averaged 0.6 pips. From my experience, this is very competitive for a commission-free account.

In our broker rating review, we have found the average spread for EUR/USD on a commission-free trading account to be 1.0 pip. I determined that the commission of $3.00 on the cTrader Raw Spread and $3.50 on the MetaTrader Raw Spread accounts are in line with the industry average.

I was also impressed with the fact that there are no order distance restrictions. This means you can place an order as close to the market price as you wish highlighting how fast the speed of execution is with IC Markets.

With access to a range of the world’s best forex trading platforms, trading accounts with competitive fees, high forex leverage of up to 1:500, and 24/7 customer support, IC Markets is the best overall broker for traders in Vietnam.

  • Multiple account types.
  • Low fees, raw spread, zero requotes.
  • MT4, MT5, cTrader.
  • 24/7 customer support
  • No bonus promotions for Vietnamese traders.

Best for Advanced Traders


The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Investing in CFDs and Margined FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlining assets. We recommend that you seek independent advice and ensure fully understand the risks involved before trading. It is important that you read and consider disclosure documents before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use is contrary to the local laws and regulations. Products and Services offered on this website is not intended for residents of the United States.
  • Min Deposit
  • Tradable Instruments
  • Fees

If you have some experience trading the forex market but are looking to take your trading to the next level, then TMGM could be a good option for you. Established in 2013, the broker is authorized and regulated by ASIC, VFSC, and FMA New Zealand, offering a good range of advanced trading platforms and tools and an ECN execution model.

Regional Features:

  • TMGM entity regulated by the Vanuatu Financial Services Commission (VFSC).
  • Leverage: up to 1:500 on forex pairs and 1:50 on other markets.
  • Vietnamese payment options: Online Banking Vietnam, Neteller, Skrill, UnionPay, RMB, FasaPay, credit/debit cards, and more.
  • A Vietnamese version of the website with customer support during local working hours in Vietnam by phone or email.
  • Bonuses and promotions for Vietnamese clients: earnings per transaction to access rewards such as an iPad or Macbook.

As an advanced trader myself, I found that the option to use the MT4 and IRESS trading platforms was great. The IRESS platform enables you to trade with direct market access (DMA) and access live floor prices and true market depth. There is a steep learning curve, but the platform comes with a lot of customizations and tools.

Most advanced retail traders may be more comfortable with the MT4 platform. I enjoy the MetaTrader marketplace which can be accessed from the platform, as it enables you to purchase customized trading indicators and algorithmic trading robots.

TMGM also provides its clients with the TMGM Market Sentiment Tool. This is a Trading Central tool that analyses the market sentiment for a wide range of instruments from social media, blogs, and news articles.

Both the Classic and Edge trading accounts offer up to 1:500 leverage and are based on an ECN execution model which provides access to raw interbank pricing and fast execution, making TMGM an option to consider for advanced traders.

  • IRESS, MT4 platforms.
  • ECN execution model.
  • Market sentiment tools.
  • TMGM rewards.
  • Limited education and research materials.

Best for Copy Trading

FX and CFDs trading involves a high risk of loss
  • Min Deposit
  • Tradable Instruments
  • Fees

Established in 2019, Errante is authorized and regulated by CySEC and the FSA Seychelles. Offering a diverse portfolio, it provides 150 tradable instruments across four distinct trading accounts. Traders have access to three leading platforms: MT4, MT5, and cTrader. The platform also facilitates social trading, allowing users to effortlessly monitor and replicate the strategies of successful traders or to become signal providers themselves, earning performance fees.

Regional Features:

  • Traders in Vietnam can open an account with the Errante Securities (Seychelles) Limited entity, authorized and regulated by the FSA Seychelles.
  • Leverage up to 1:500 on forex pairs.
  • 5 Vietnamese payment methods: International Bank Transfer, Visa/Mastercard, Neteller, Skrill, SticPay, Perfect Money.
  • A translated Vietnamese version of the website

Errante's copy trading feature offers a straightforward start-up process. Once an account is opened, users can easily explore the performance of various traders within the Errante community. Key performance metrics include average weekly and monthly returns, return deviation, volatility ratio, Sharpe ratio, and recovery factor, along with a graphical representation of equity and returns. The platform enables effortless copying of traders with a single click, while also allowing users to customize their stop loss and risk levels.

The platform provides access to a range of financial CFD instruments, encompassing forex, stocks, indices, commodities, and cryptocurrencies. All these are available on the MT4, MT5, and cTrader platforms, renowned for their superior charting tools and automated trading features.

In our live evaluation of the Errante Standard Account, the spread for EUR/USD was observed to average 1.5 pips during peak trading hours in the London and New York sessions. This is slightly above the industry average of 1.0 pips for commission-free accounts. However, Errante offers lower spreads in other account types, albeit with higher minimum deposit requirements.

  • Easy to use copy trading product
  • Detailed trader performance statistics
  • 150+ tradable instruments
  • Beginner and advanced educational videos
  • $5 per month inactivity fee, if no activity for 3 months

Best Account Offering

Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
  • Min Deposit
  • Tradable Instruments
  • Fees

Established in 2020, Moneta Markets has entities authorized and regulated by the FSA Seychelles, FSCA, and one unregulated entity based in St. Lucia. It offers a good range of account types, including a commission-free Direct account and two ECN accounts called Prime and Ultra, which have low spreads and competitive commissions.

Regional Features:

  • Moneta Markets Ltd entity, based in St. Lucia, unregulated
  • Leverage: up to 1:1000 on forex pairs.
  • 5 Vietnamese payment methods: International Bank Transfer, Visa/Mastercard, FasaPay, JCB, Sticpay
  • A translated Vietnamese version of the website

During our live test, I found that Moneta Markets provides a good range of account types for all types of traders in Vietnam. This includes:

  • Direct STP. Zero commission – Spreads from 1.2 pips – USD 50 minimum deposit.
  • Prime ECN. USD 3 commission per lot, per side – Spreads from 0.0 pips – USD 200 minimum deposit.
  • Ultra ECN. USD 1 commission per lot, per side – Spreads from 0.0 pips – USD 20,000 minimum deposit.

The Prime ECN account seems to offer the best balance between low fees and minimum deposit. In fact, during our live fee test on the Prime ECN account, we found the spread for EUR/USD during the London and New York sessions averaged 0.15 pips. The commission of USD 3 per lot per side is also better than the industry average of USD 3.50.

I also found that each account type offers up to 1:1000 leverage and access to trade from the MT4 and Pro Trader Web platform, powered by TradingView. With more than 1,000 tradable instruments covering forex, indices, commodities, shares, cryptos, and bonds, Moneta Markets provides a good range of markets available for traders in Vietnam.

  • Commission-free trading account.
  • ECN trading accounts with competitive commission.
  • Multiple trading platforms.
  • 1,000+ tradable instruments.
  • Limited educational resources.

Best MT4

This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.
  • Min Deposit
  • Tradable Instruments
  • Fees

If you’re searching for a broker that provides the best MT4 platform support, tools, and additional plugins, then BDSwiss could be a good choice for you. Established in 2012 in Zurich and regulated by the FSC Mauritius and FSA Seychelles, the broker offers a wide range of markets from the MT4 platform with extra plugins and tools from AutoChartist and Trading Central.

Regional Features:

  • BDSwiss entity authorized and regulated by the FSC of Mauritius.
  • Leverage: up to 1:500.
  • More than 20 Vietnamese payment methods including Online Banking Vietnam, Thuderx Pay, Astropay, credit/debit cards, and more.
  • A Vietnamese version of the website with customer support during local working hours in Vietnam.
  • Bonuses and promotions for Vietnamese clients: a 10% cashback bonus, a loyalty program, and a refer-a-friend program.

From our live trading test, I found that you can trade from the MT4 and MT5 trading platforms, alongside the BDSwiss Web Trader and BDSwiss Mobile App. The best feature I was most impressed with is the fact that all of these platforms are synced with one another. This means you can trade and manage the same positions whether on the MT4 or BDSwiss web platform which makes trading on the move a lot easier.

The MT4 trading platform is considered to be the ‘go-to’ for forex traders. You can trade multiple asset classes from different timeframes while accessing more than 80+ inbuilt technical indicators and an economic calendar. You can also access the MetaTrader marketplace and download customized indicators or algorithmic trading robots.

I also found that you can access even more features to support your MT4 trading. This includes access to a VPS service, AutoChartist, and Trading Central. I personally love to use AutoChartist as it identifies technical analysis patterns automatically which speeds up the analytical process.

  • MT4 synchronized with BDSwiss Web Trader.
  • Multiple MT4 account types.
  • Trading Central and AutoChartist tools.
  • Bonuses for Vietnamese traders.
  • Some accounts have higher fees than others.

Best for Beginners


82% of retail CFD accounts lose money
  • Min Deposit
  • Tradable Instruments
  • Fees

If you are just starting on your forex trading journey, then you may enjoy some of the features and services FXTM has to offer. Established in 2011, FXTM is authorized and regulated by the UK FCA, FSCA, CySEC, IFSC Belize, and FSC Mauritius. Beginner traders can access free demo trading accounts, commission-free accounts, and extensive educational videos and articles.

Regional Features:

  • ForexTime Limited entities regulated by the IFSC Belize and FSC Mauritius.
  • Leverage: up to 1:500 on a retail account and 1:2000 on a professional account.
  • Vietnamese payment options include Online Banking Vietnam which allows you to use your local bank account to transfer funds to and from your FXTM account.
  • A Vietnamese version of the website with customer support during local working hours in Vietnam.
  • Bonuses and promotions for Vietnamese clients: a 30% welcome bonus, a loyalty program, and a refer-a-friend program.

FXTM provides a fantastic offering for traders in Vietnam through its Vietnamese version of the website and customer support during local working hours by phone, email, live chat, WhatsApp, Telegram, or Facebook messenger.

During our live test, we found the knowledge, speed, and reliability level of FXTM’s customer support to be better than the industry average. In my early days of trading, I found that having access to good customer support was important to help navigate my trading account and the platform offered by the broker.

With FXTM, you can trade 250 financial instruments, covering forex, indices, commodities, and stocks from the MT4 trading platform and FXTM Trader App. As an advanced trader, I enjoy the FXTM MT4 platform because they also provide additional MT4 indicators to use, such as a pip value calculator and pivot point indicator. However, beginner traders may find FXTM Trader App easier to navigate and consider it the fastest way to trade.

You can use a free demo trading account to test the platform and practice your trading ideas. There is a large range of educational videos and articles to support beginner traders in their journey, and free daily market analysis reports. To begin with, I would suggest starting with the FXTM Forex Trading Guide for Beginners, as it offers a more structured approach to learning how to trade the market.

  • Multiple regulations and licenses.
  • Good range of account types.
  • Easy to navigate FXTM Trader App.
  • Good customer support.
  • Inactivity fee.

Best Low Spreads


81 % 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.
  • Min Deposit
  • Tradable Instruments
  • Fees

If you want to trade with a broker which offers some of the best trading fees for traders in Vietnam, then XTB is worth considering. Established in 2007, IC Markets is authorized and regulated by the UK FCA, CySEC, CNMV, KNF, and the IFSC Belize providing access to commission-free, low-spread trading accounts from its proprietary xStation platform.

Regional Features:

  • XTB entity authorized and regulated by the IFSC of Belize.
  • Leverage: up to 1:500 on forex pairs.
  • More than 6 Vietnamese payment methods: Ngan Luong bank transfers, Visa, Mastercard, Maestro, Skrill, Paysafe, Safetypay, Neteller, and more.
  • A Vietnamese version of the website with customer support during local working hours in Vietnam.

For traders in Vietnam, I found that XTB provides access to one trading account called the Standard Account. Some of the features of this trading account include:

  • Commission-free trading on forex, indices, commodities, and crypto CFDs
  • Forex spreads from 0.35 pips
  • Zero fees for share CFDs (except Czech and Polish share CFDs)
  • Zero deposit fees for Ngan Luong bank transfers and credit/debit cards

During the course of our live fee test, I found that the spread for EUR/USD during the London and New York session on a Standard Account averaged 0.85 pips which is better than the industry average of 1.0 pips for a commission-free trading account.

While most brokers will charge a commission for share CFD trading, XTB only charges a commission on Czech and Polish share CFDs. This means you can trade US, UK, and European stocks without any commissions to buy or sell. In fact, there are more than 2,220+ financial instruments available to trade on, providing traders in Vietnam with a good range of markets.

  • Commission-free trading, low spreads.
  • No fees for deposits through bank transfer or credit/debit card.
  • Access to 2,220+ financial instruments
  • XTB xStation trading platform.
  • Withdrawals under $50 are charged a $30 commission, otherwise fee-free.

How to Choose the Best Forex Broker in Vietnam?

Here are some key points to take into consideration when choosing a forex broker in Vietnam.

Why is it important to choose a regulated broker in Vietnam?

Based on my experience, selecting a regulated broker holds significant importance. When a broker lacks supervision from a financial regulator, there can be risks associated with your funds. On top of this, your trade execution may not adhere to best practices for you, and there may be no available recourse if the broker mishandles your money.

Choosing a broker regulated by a government financial body offers enhanced safety and peace of mind. However, it is essential to recognize that not all financial regulators hold the same level of credibility. To aid in assessing regulators, we classify them into three tiers in our broker rating reviews:

  • Tier-1: These encompass well-established financial centers like the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).
  • Tier-2: This category comprises lesser-known but still reputable regulators such as the Financial Sector Conduct Authority (FSCA) in South Africa and the Financial Markets Authority (FMA) in New Zealand.
  • Tier-3: Regulators from offshore jurisdictions fall into this tier, such as the International Financial Services Commission (IFSC) in Belize and the Vanuatu Financial Services Commission (VFSC).

In the case of Vietnam, it is the State Bank of Vietnam (SBV) that regulates the trading of the Vietnamese Dong to ensure proper market liquidity. As such, the country’s central bank does not regulate forex trading brokers.

This is why Vietnamese traders may opt for brokers regulated in other jurisdictions which do regulate and license forex brokers. Based on my experience, it is advisable to steer clear of unregulated brokers as there is no recourse if they run away with your money.

What fees should you be aware of when choosing a broker?

A broker’s fees can be categorized into trading and non-trading fees. Trading fees encompass the costs associated with opening, closing, and holding positions, including the spread, commission, and swap fees.

What are spreads?

The spread refers to the difference between the buy and sell price. A lower spread is generally more favorable. In our broker rating reviews, we consider a spread of 1.0 pip on the EUR/USD currency pair for a commission-free trading account to be the industry average. You can check out our guide on the best forex brokers with lowest spreads.

What are commissions?

Some brokers may charge a commission for executing trades – especially if they advertise low spreads. But a broker may also offer a commission-free trading account but with a higher spread.

Beginner traders may prefer a commission-free trading account as all the costs are included in the spread. However, advanced high-frequency traders may prefer to have tighter spreads and pay a commission.

In our broker rating reviews, we consider the industry average for forex trading commission to be $3.50 per 100,000 units of currency traded on MetaTrader and $3.00 for the cTrader platforms.

What are swap fees?

Swap fees are overnight fees applied to leveraged or margin-based positions, such as CFD products. These fees vary based on the current interest rates of the currencies you are trading on and any additional markup implemented by the broker.

Typically, closing trades before the end of the trading day, around 10 pm London time, helps avoid swap fees. However, long-term traders should exercise caution in this regard.

What are non-trading fees?

Non-trading fees encompass charges related to dormant accounts or periods of inactivity, as well as fees associated with deposits and withdrawals.

To assess your trading fees in Vietnam, you can open a demo trading account with a broker. This allows you to test their services in a risk-free environment and determine their suitability for your needs.

What is the best type of account to trade from?

Brokers offer a range of trading accounts to meet the diverse needs of traders in the financial markets. These accounts typically differ based on the execution model or minimum deposit requirements.

Different execution account types include:

  • STP (Straight Through Processing): In this model, orders are directly sent to the broker’s liquidity provider.
  • ECN (Electronic Communications Network): Orders are matched with prices from multiple liquidity sources, such as investment banks.
  • DMA (Direct Market Access): With DMA accounts, clients trade directly with participants in the interbank market.

ECN accounts often feature the most competitive spreads, but they usually involve trading commissions as well. It is important to check the commission rates and ensure they are either in line with or better than the industry average. Regulated brokers are obligated to provide transparency regarding their execution types, and you can find this information in their legal documents and terms and conditions. You should stay clear of the broker if the fees are not transparent.

Additionally, brokers may offer account types based on minimum deposit requirements. For example, a standard account might have a minimum deposit requirement of $50, while an advanced account could require a minimum deposit of $1,000. Higher account balances often come with benefits such as lower spreads, reduced commissions, and access to additional trading tools so it is worthwhile comparing all the options a broker provides.

What leverage is available for traders in Vietnam?

CFD brokers primarily cater to the purpose of leveraged trading which allows traders to control larger positions with a smaller capital amount by borrowing funds from their brokers.

Leverage-based trading, also referred to as margin-based trading, involves the broker providing capital to trade larger positions. The borrowed funds incur interest charges, commonly known as swap fees. This approach offers the potential for increased profits, but it also carries the risk of larger losses.

The margin required to open a trade varies depending on the regulatory body overseeing the broker and the instrument being traded. Retail CFD brokers regulated by tier-1 regulators such as CySEC or the UK FCA often offer a maximum leverage of 1:30. This means traders can open positions that are 30 times larger than their invested capital.

However, since Vietnam’s financial authorities do not directly regulate forex brokers, some brokers operate from offshore locations in tier-3 jurisdictions that may provide much higher leverage, such as 1:500 or even 1:1000.

While this can be advantageous for experienced traders, beginner traders should exercise caution when utilizing high leverage as it magnifies both profits and losses.

Which trading platform is the best to use?

Many trading brokers tend to offer well-known trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. These are usually accessible through desktop, web, or mobile devices.

A desktop platform will typically provide the most number of features such as an in-built economic calendar or algorithmic trading capabilities. However, a broker may also offer their own proprietary – usually web-based – trading platform.

It is important to assess your individual trading requirements and select the platform that best suits your needs. While there is a wealth of helpful information available online about MT4, MT5, and cTrader, there is a steeper learning curve. It is worth noting that a broker’s proprietary platform may offer a more user-friendly experience.

Based on my personal experience, I would recommend having access to multiple platforms or devices for managing your trading account. This way, if one platform experiences technical issues or downtime, you can still access and manage your open positions using an alternative platform or device. See our guides on the best MT4 brokers, best MT5 brokers, and best cTrader brokers.

What to avoid when choosing a forex broker in Vietnam?

In my experience, I highly recommend avoiding brokers that lack regulation from a recognized financial authority. Regulation plays a vital role in determining a broker’s credibility and the safety of your investments.

In Vietnam, there are no specific forex regulations. Vietnamese traders tend to trade with international brokers who accept clients from Vietnam, as discussed on this page. When trading with an international broker it is crucial to ensure that the regulatory body that oversees the broker’s business activities is highly reputable.

Another aspect to be cautious about is brokers with unclear fee structures or the promise of large financial gains. Brokers regulated by a tier 1 regulator tend to offer the highest level of safety as it is a regulatory requirement to offer a high level of transparency and not entice users to trade through outlandish marketing campaigns.

Additionally, poor customer service should raise concerns. A reliable broker should have prompt and easily accessible customer support. Having responsive customer service is crucial for addressing any issues or concerns that may develop throughout your trading journey.

If you see any of these red flags, it is best to avoid the broker. There are many reputable brokers out there, so there is no need to take a risk with a scam.

How to avoid forex and CFD scams?

Forex and CFD trading can be a great way to make money, but it’s important to be aware of the risks involved. One of the biggest risks is falling victim to a scam. Scammers are constantly seeking new ways to take advantage of people, and forex and CFD trading presents a prime target.

Here are three simple steps you can take to avoid forex and CFD scams:

  • Do your research. Before you start trading, take some time to research the different brokers available. Read reviews, compare fees, and look for a broker that has a good reputation.
  • Beware of promises of easy money. If a broker promises you easy money, it’s probably a scam. Forex and CFD trading is a risky investment, and there is no such thing as a guaranteed profit.
  • Read the fine print. Before you sign up with a broker, be sure to read the fine print. This includes the terms and conditions, as well as the fees that the broker charges.
  • Be suspicious of unsolicited offers. If you receive an unsolicited offer to trade forex or CFDs, it’s probably a scam. Legitimate brokers don’t cold call people.

By following these simple steps, you can help to protect yourself from forex and CFD scams.

Our Methodology

FX Empire has been a pioneering source for broker reviews, continuously enhancing the 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 Vietnam, 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:

  • Top-tier regulation from well-known, globally established regulators
  • Deposits and withdrawals in Thai Baht (THB) allowed
  • Bonuses and promotions for Thai clients
  • Low trading fees including spreads and commissions
  • Easy-to-use and feature-rich trading platforms
  • Thai customer support available during local business hours
  • Easy to access Thai payment methods
  • Localized Thai website where possible

After conducting extensive research and in-depth analysis, based on the above factors, I have compiled a selection of top-rated brokers that welcome traders from Vietnam. I encourage you to explore this list further and dive into the details of each broker.

To ensure that your choice aligns with your specific trading requirements, I strongly suggest testing a broker’s features through a demo trading account. This invaluable tool allows you to gain first-hand experience with the platform, enabling you to evaluate its functionality, user-friendliness, and suitability for your trading style.

By utilizing a demo account, you can make an informed and confident decision before committing to a particular broker.

Meet our Writers

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.

Get to Know Our Authors

Dan Blystoneauthor

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 Solankiauthor

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.

Plamen Stoyanovauthor

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.

Vladimir Zernovauthor

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.

Forex trading in Vietnam is legal. The State Bank of Vietnam regulates the activities of foreign exchange investments. However, there are no specific leveraged forex trading regulations set out by the Vietnamese authorities. Instead, traders in Vietnam will trade with brokers regulated by international authorities that license such speculative activities.
Forex trading in Vietnam is regulated by the State Bank of Vietnam (SBV) which ensures proper market liquidity in its currency and the stability of its financial system. The bank also grants licenses to commercial banks to engage in forex activities by setting out regulatory frameworks and foreign exchange controls.
Since the forex broker that you’re looking into will certainly be foreign, they will likely be regulated by a foreign regulator such as the FCA in the UK or ASIC in Australia. You can search the regulator’s online register for confirmation.
FXTM is a broker worth considering if you are a beginner trader. Not only do they provide a wide range of educational videos, helpful customer support and user-friendly FXTM Trader App, but also offer special bonuses and promotions for Vietnamese clients
TMGM is a broker worth considering if you are a professional trader as it provides access to advanced trading platforms such as MT4 and IRESS which allows for algorithmic trading and direct market access (DMA) trading activities, respectively.
The best forex trading platform in Vietnam is most likely to be MetaTrader or cTrader. These are the most popular trading platforms offered by retail brokers for their clients to use.
In most circumstances yes, it is likely you will need to pay taxes on any forex trading profits in Vietnam. You should contact an accountant or tax lawyer for more information.
Yes, this is both legal and commonly done. However, it is important to ensure that the broker you sign up with is regulated by a well-known and established financial authority.
Cryptocurrency trading currently exists in a legal grey area in Vietnam. While it's not illegal, the SBV has issued warnings against its use, mentioning concerns over potential fraud and money laundering.
You can trade physical currencies with an exchange bureau. However, this is highly impractical so it is advisable to trade with a forex trading broker that allows electronic trading from a trading platform that also offers leverage.
Negative Balance Protection is a safety feature that ensures traders cannot lose more money than they have deposited into their trading account. This feature is critical in volatile markets where sudden price changes can result in significant losses.
You can verify whether your broker offers negative balance protection by checking their website's terms and conditions or by directly contacting their customer service. Brokers regulated by tier 1 regulators must offer this as a regulatory requirement.
A compensation scheme, like the Financial Services Compensation Scheme (FSCS) in the UK, offers a safety net for clients of regulated brokers. Should the broker become insolvent, such schemes can compensate clients up to a certain limit.
To check if your broker is a member of a compensation scheme, you can look for this information on their website or contact their customer service. Brokers regulated by tier 1 regulators such as the FCA and CySEC must offer this option as a regulatory requirement.
A segregated fund is a separate account where brokers keep their clients' money. This ensures that client money cannot be used by the broker for their own operational expenses.
To ensure that your broker uses segregated funds, check their policy details on their website or inquire directly with their customer service. Brokers regulated by tier 1 regulators legally need to abide by this as a regulatory requirement.

About the Author

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.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.