Best Forex Brokers in Thailand for 2023

Forex trading is a popular investment option in Thailand, and there are many regulated forex brokers that offer their services to Thai traders. With so many options available, it can be challenging to choose the best one for your needs. To help you make an informed decision, we have compiled a list of the best forex brokers in Thailand for 2023 based on a comprehensive research, and explained many other facts about forex trading in the country as well.

Top 10 Best Forex Brokers in Thailand

Pepperstone: A global online forex and CFD trading broker founded in 2010. It is headquartered in Australia and regulated by several top financial regulators, including the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). Pepperstone offers a dedicated account type for professional traders, called Pepperstone Pro, which allows higher leverage, lower spreads, and other benefits. It has a research and development arm that is dedicated to developing innovative trading tools and technologies.

FxPro: A global forex and CFD broker founded in 2007. It offers ECN/STP execution, which means that orders are executed directly on the interbank market without any intermediary. The FxPro Wallet is a multi-currency account that allows traders to hold and transfer funds between different trading accounts. FxPro also offers a FxPro Trading Academy, which is a comprehensive educational resource for traders of all levels, and a FxPro Research portal, which provides traders with access to research reports, market insights, and trading ideas.

Admiral Markets: Founded in 2001, the global forex and CFD broker is headquartered in the UK regulated by the FCA, the CySEC, and more. Admiral Markets offers a set of tools called Volatility Protection that can help traders to manage their risk during periods of high volatility, and a premium version of the MetaTrader platform called Supreme Edition, which includes additional features and tools, such as automated trading, technical analysis, and newsfeeds. It also offers micro accounts, zero spread accounts, and Islamic accounts.

BDSwiss: BDSwiss is founded in 2012 and headquartered in Cyprus. It offers a VPS service that allows traders to host their trading platform on a dedicated server. This can be helpful for traders who want to ensure that their trading platform is always up and running. There us a market insights section on its website that provides traders with up-to-date news and analysis on the financial markets. Additionally, BDSwiss offers a social trading platform that allows traders to connect with other traders and share trading ideas.

FBS: headquartered in Cyprus, it has been providing forex and CFD brokerage services ever since 2009. Its proprietary trading platform FBS Trader offers a variety of features and tools, such as technical analysis, charting, and newsfeeds. FBS also offers a social trading platform that allows traders to connect with other traders and share trading ideas, and its signal service FBS Pro Signal provides traders with signals from experienced traders to help them improve their trading performance.

FP Markets: The global forex and CFD broker is founded in 2005 and headquartered in Australia. It has a research and development arm to develop innovative trading tools and technologies, a comprehensive educational resource that offers courses on topics such as forex trading and technical analysis. Besides, FP Markets Research also provides traders with access to research reports, market insights, and trading ideas.

OANDA: OANDA started to provide forex trading services in 1996. It offers transparent pricing, with no hidden fees or commissions, and provides a comprehensive education program, including courses, webinars, and tutorials. OANDA also offers a proprietary trading platform that is designed to be user-friendly and easy to use.

Exness: A global forex broker founded in 2008. It offers zero swap on some currency pairs and competitive bonuses to new and existing traders. Exness also provides a demo account that allows traders to practice trading without risking any real money, and its affiliate program allows traders to earn commissions by referring new clients to the broker.

IC Markets: Founded in 2007, IC Markets offers some of the lowest trading fees in the industry, with spreads starting from just 0.0 pips on major currency pairs. The broker does not requote prices, which means that the price you see is the price you get. This can help traders to avoid slippage.

Axi: Headquartered in Australia, Axi has been in the industry since 2007. The well-established broker with a proven track record of providing reliable and trustworthy services offers excellent customer support, with 24/7 live chat and phone support available in multiple languages. It also offers a copytrading service, a proprietary trading platform, and a comprehensive research portal for traders to stay up-to-date on the latest market trends.  

Comparison of the Best Forex Brokers in Thailand

Is Forex Trading Legal in Thailand?

Forex trading is completely legal in Thailand, and individuals residing in the country can engage in forex trading activities without any restrictions. The Bank of Thailand, the country's central bank, oversees and regulates forex trading to ensure transparency and stability in the financial markets.

What Are the Regulations for Forex Trading in Thailand?

While forex trading is legal, it is important to note that the Bank of Thailand (BOT) requires brokers and financial institutions offering forex trading services to obtain the necessary licenses and comply with the regulations. Here is an an overview of the regulations for forex trading in Thailand.

- Licensing requirements

In order to operate in Thailand, a forex broker must meet a number of requirements and be licensed by the BOT. It should be a company incorporated in Thailand, and having a minimum paid-up capital of THB 100 million (around $3.3 million). The company also need to have a board of directors with at least two members who are Thai nationals, a compliance officer who is responsible for ensuring that the broker complies with all applicable regulations, a risk management system in place to protect customers' funds, and a dispute resolution mechanism in place to resolve customer complaints.

The BOT also requires forex brokers to disclose their full name and address, contact details, type of license held by them, minimum deposit required to open an account, fees and commissions charged, and the risks associated with forex trading.

- Capital requirements

In addition to the aforementioned minimum paid-up capital, forex brokers in Thailand are also required to maintain a certain level of operational risk capital, which is calculated based on the size and complexity of the broker's operations. The operational risk capital requirement is designed to ensure that the broker has sufficient funds to cover any unexpected losses that may occur due to operational risks, such as fraud or system failures.

- Investor protection

The investor protection requirements that forex brokers in Thailand are required to comply with include keeping customer funds separate from the broker's own funds, disposing of customer funds in a timely manner, as well as providing customers with clear and accurate information about the risks associated with forex trading, and having a dispute resolution mechanism in place to resolve customer complaints, as mentioned above.

- Anti-Money Laundering (AML) compliance

The BOT requires forex brokers in Thailand to comply with the Anti-Money Laundering (AML) Act B.E. 2542 (2000) and its implementing regulations. The AML Act requires forex brokers to identify and verify the identity of their customers, report suspicious transactions to the BOT, and keep records of their customers' transactions for a period of five years.

- Regulatory reporting

Forex brokers must submit to the BOT daily trading reports which must include information such as the total volume of trading, the average price, and the highest and lowest prices of the day; monthly position reports which must include the broker's open positions, the size of the positions, and the average price of the positions; and quarterly financial reports which must include the broker's income, expenses, and assets.

It is important to note that the BOT does not regulate forex brokers that are located outside of Thailand but that offer their services to Thai residents. These brokers are regulated by the financial authorities in their home countries.

How to Find the Right Forex Broker in Thailand?

As with in other countries, when selecting a broker to trade with in Thailand, there are several key factors to consider.

First of all, it is important to make sure the broker is regulated by a reputable financial authority, such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC). This will help protect your money in case the broker goes bankrupt.

Secondly, the trading platform is the software you will use to trade forex. It’s crucial to choose a platform that is easy to use and has the features you need, such as charting tools and technical analysis indicators.

Thirdly, remember to compare the fees charged by different brokers, such as commissions, spreads, and deposit/withdrawal fees. Look for a broker that offers low fees so you can keep more of your profits.

Furthermore, different brokers offer different account types, such as standard, ECN, and STP accounts. You should check out and make sure you can choose an account type that is suitable for your trading style and experience level.

Last but not the least, make sure the broker offers good customer support. This is important if you have any questions or problems with your account.

What Is the Leverage for Forex Trading in Thailand?

The leverage for forex trading in Thailand varies depending on the broker and the type of account. Here are some examples of the leverage offered by forex brokers in Thailand.

Pepperstone - Leverage up to 500:1  

FxPro - Leverage up to 10000:1

Admiral Markets - Leverage up to 500:1

BDSwiss - Leverage up to 500:1

FBS - Leverage up to 3000:1

It is important to note that while some brokers offer high leverage, it can amplify both wins and losses, so you should be careful when using leverage and manage their risk accordingly.

What Payment Methods Are Supported by Forex Brokers in Thailand?

Forex brokers in Thailand offer a variety of payment methods to cater to the needs of Thai traders.

Bank transfer: This is the most popular payment method for forex trading in Thailand. It is a secure and reliable way to fund your account, but it can take a few days for the funds to clear.

Credit/debit cards: Another popular option for funding a forex account. They are quick and convenient, but they may incur higher fees than bank transfers.

E-wallets: E-wallets, such as Skrill and Neteller, are becoming increasingly popular for forex trading. They are a convenient and secure way to fund your account, and they often offer lower fees than bank transfers or credit/debit cards.

Paypal: Paypal is a popular payment method for many online transactions, including forex trading. It is a secure and convenient way to fund your account, but it may incur higher fees than other methods.

UnionPay: UnionPay is a Chinese payment network that is becoming increasingly popular in Thailand. It is a convenient way to fund your account, but it may not be available with all brokers.

When choosing a payment method, it is important to consider the fees, the speed of the transaction, and the security of the payment method. You should also make sure that the payment method is supported by the broker you choose.

What Is the Best Time to Trade Forex in Thailand?

The forex market operates 24 hours a day, five days a week, from Monday to Friday. It spans different time zones across major financial centers worldwide, creating opportunities for trading at various times. Thailand follows the Indochina Time Zone (ICT), which is UTC+7. It is important to consider this time difference when determining the best time to trade forex in Thailand.

The best time for forex trading in Thailand is when there is an overlap between major trading sessions. During these periods, the market tends to be more active, with increased liquidity and volatility, offering greater trading opportunities.

The Asian session is the first major trading session of the day and begins in the early morning hours, coinciding with the daytime in Thailand. This session includes financial centers such as Tokyo, Singapore, and Hong Kong. It offers opportunities for trading popular currency pairs like USD/JPY and USD/SGD.

The European session starts a few hours after the Asian session ends and overlaps with Thailand's late afternoon to evening hours. It includes financial hubs like London, Frankfurt, and Zurich. This session is known for high trading volume and liquidity, making it suitable for trading currency pairs like EUR/USD and GBP/USD.

The American session begins a few hours after the European session ends and overlaps with Thailand's late evening to early morning hours. It includes financial centers such as New York and Toronto. This session often witnesses significant market movements, particularly when economic data or major news events are released. Currency pairs like USD/CAD and USD/CHF are popular during this session.

While the overlap of trading sessions provides favorable trading conditions, other factors that should also be considered include volatility, personal schedule, and currency pairs.