Best Forex Brokers in Thailand for 2024 (Top Picks)

Forex trading has become increasingly popular in Thailand over the years. To make the most of this exciting opportunity, it’s essential to choose the right Forex broker. A good broker will provide a reliable trading platform, competitive exchange rates, and a range of tools and resources to help you make informed trades. 

In this article, we’ll take a look at the best Forex brokers available in Thailand, taking into consideration factors such as regulation, fees, and customer support. Whether you’re a beginner or an experienced trader, you’re sure to find a broker that meets your needs.

A list of Top Forex Broker in Thailand

• Icmarkets
• Pepperstone
• Etoro
• XM
• Exness
• Oanda
• FBS
• Hotforex 
• Eightcap
• FXTM

Comparison of Best forex Brokers in Thailand

Best Forex Brokers in Thailand Reviewed

ICmarkets.com – Best for Tight Spread

IC Market is a regulated broker established in 2017, based in Australia. It is best known for its tight spreads and offers a variety of trading platforms, including MT4, MT5, cTrader, Web and Mobile. It is suitable for both beginner and experienced traders and provides a secure and reliable trading environment. IC Market also provides a wide range of trading tools and resources to help traders make informed decisions. With competitive spreads and customer service, IC Market is an excellent choice for traders looking for a reliable broker.

IC Markets is an excellent broker for trading, offering a wide range of trading instruments including 60+ currencies, 10+ cryptos and 1600+ CFDs. It also allows the use of EAs and robots, as well as scalping and news trading. It also provides additional facilities such as MAM accounts, and access to Zulutrade Social Trading. All of these features make IC Markets a great choice for traders of all levels.

Our Ratings

Pros:

1. Low minimum deposit. 

2. Competitive spreads. 

3. Advanced trading platforms.

4. Negative balance protection. 

5. Segregated client funds. 

Cons:

1. Limited range of tradable products. 

2. Lack of educational resources.

Pepperstone.com — For Islamic Account

Pepperstone is a regulated broker based in Australia that was established in 2010. It is best known for offering Islamic accounts and offers a wide range of trading platforms, including MT4, MT5, cTrader, DupliTrade, and TradingView. Pepperstone’s services are tailored to meet the needs of all types of traders, from beginner to advanced, and its commitment to provide a secure trading environment for its clients makes it a great choice for those looking for a reliable broker.

Pepperstone is a highly reputable online broker that offers a range of trading instruments to their clients. It allows clients to trade in over 60 currency pairs, 20 crypto currencies, and more than 1200 CFDs. Additionally, Pepperstone also provides various facilities such as MAM, PAMM, and copy trading accounts, which enable clients to manage their investments more effectively. Moreover, Pepperstone allows its clients to engage in Scalping and News Trading, which is a great benefit for those who are looking for advanced trading strategies. With such a wide range of instruments and facilities, Pepperstone is definitely a great choice for those who wish to trade in the financial markets.

Our Ratings

Pros:

• Low fees and competitive spreads 
• Highly customizable trading platforms 
• Wide range of trading instruments 
• Excellent customer service 
• Comprehensive educational resources 

Cons:

• Limited payment methods 
• Limited research and analysis tools

Etoro.com – Best for Social Copy Trading

Etoro is a regulated broker based in the United Kingdom and established in 2007. It is best known for its social copy trading platform, which allows users to easily copy the trading strategies of other users. The platform used by Etoro is the eToro trading platform, which is user-friendly and provides traders with a range of tools and features to help them make informed decisions. Etoro is a great choice for those looking to get involved in social copy trading.

Etoro is an online broker that provides a wide range of trading instruments and facilities. They offer 45+ currency pairs, 55+ cryptos, and 2815+ CFDs. Additionally, they allow copy trading, a tool which allows traders to mimic the strategies of more experienced traders. However, they do not allow the use of automated trading robots. With this extensive range of options and features, Etoro is an ideal choice for both experienced and novice traders.

Our Ratings

Pros:

• Low minimum deposit requirement of just $200 
• User friendly trading platform 
• CopyTrader feature to easily copy successful traders 
• Variety of payment methods
•  Wide selection of assets to trade 

Cons

• High spreads compared to other brokers 
• Limited customer support options

XM.Com – For Flexible trading

XM is a regulated Forex and CFD broker based in Cyprus, established in 2009. It offers a flexible trading environment with a great range of currency pairs and other financial instruments. XM offers a variety of platforms to choose from, including MT4 and MT5, which are among the most popular in the industry. With XM, clients can enjoy tight spreads, no re-quotes, fast order execution, and access to a wide range of educational resources.

XM is a leading broker offering a wide range of trading instruments, including 55+ currencies, 30+ cryptos and 940+ CFDs. It allows traders to use EA or robots, as well as scalping and news trading. It also provides additional facilities like MAM accounts, but does not offer PAMM accounts. Additionally, XM also offers Zulutrade social trading, providing traders with an excellent platform to benefit from the trading experience of other successful traders.

Our Ratings

Pros:

• Low trading costs and fees. 
• Variety of account types and leverage options. 
• Flexible leverage options and competitive spreads. 
• Reliable customer service and support. 
• Secure and well-regulated broker. 

Cons:

• Limited range of trading instruments. 
• Lack of educational materials and resources.

Exness.com — For Instant withdrawal

Exness is a regulated broker established in 2008 and based in Seychelles. It offers a range of trading services and platforms, including MT4 and MT5, making it a great choice for traders of all levels. With its instant withdrawal feature, Exness is the perfect choice for those looking for a fast, efficient and secure trading experience.

Exness is a great choice for traders looking for a broker offering a wide range of trading instruments. The broker provides 95+ currencies, 5+ cryptos, and 130+ CFDs to trade. It also allows the use of EAs and robots, scalping, and news trading. Furthermore, Exness also provides copy trading services for those who are interested in copying the strategies of successful traders. All in all, Exness is a great broker for traders of all levels.

Pros:

• Highly regulated by multiple international agencies 
• Offers a wide range of trading tools and platforms
• Low spreads and no commission 
• Fast execution speeds 
• Solid customer service 

Cons

• Limited range of tradable assets 
• Limited educational resources

Oanda.com — Most Trusted

Oanda is an established, regulated broker based in the United States that has been around since 1996. They offer a variety of different trading platforms including MT4, MT5, WebTrader, NinjaTrader, MotiveWave, MultiCharts and TradingView. Oanda is best known for its trustworthiness and offers a secure and reliable trading environment. They provide excellent customer service and a user friendly interface, making them a great choice for both novice and experienced traders.

Oanda is a broker that offers a wide variety of trading instruments, including 70+ currencies, 4 cryptos, and 50+ CFDs. Oanda allows for EAs and robots, scalping, and news trading, and offers additional facilities such as ZuluTrade. With such an expansive array of options, Oanda is a great choice for traders looking for a reliable broker to get started with.

Our Ratings

Pros:

• Low spreads with competitive pricing 
• Variety of trading options and instruments 
• Comprehensive customer service 
• Robust security and safety measures
• Advanced trading platforms 

Cons:

• Limited support for some trading styles
• Limited customer service channels

FBS.com —- For High Leverage

FBS is an established, regulated broker founded in 2009. It is best known for its high leverage and offers traders the ability to trade on the MT4, MT5 and FBS Trader platforms. FBS is based in Belize and provides a safe and secure trading environment for its clients. Its customer support is also highly rated, making it an ideal choice for traders looking for a reliable broker.

FBS is a broker offering a wide range of trading instruments for their clients. They have over 35 different currencies as well as 3 different CFDs available for trading. They allow the use of EAs and robots, as well as scalping and news trading. This makes it an ideal broker for experienced traders looking for a wide range of options and trading conditions.

Our Ratings

Pros:

• Licensed and regulated by the International Financial Services Commission (IFSC). 
• High leverage of up to 1:3000. 
• Offers a wide range of trading instruments, including currency pairs, indices, commodities, and cryptocurrencies. 
• Low minimum deposit requirement of just $1. 
• Variety of trading platforms, including MetaTrader 4, MetaTrader 5, WebTrader and mobile apps. 

Cons:

• Limited customer support options. 
• Limited payment options.

Hotforex.com — For Trading instruments

Hotforex is a regulated broker established in 2010, offering a variety of trading instruments via their MT4 and MT5 platforms. It is based out of Saint Vincent and Grenadines and provides clients with secure and reliable services. Hotforex stands out from other brokers due to its competitive spreads, reliable customer service, and diverse selection of trading instruments.

Hotforex is a broker offering a wide range of trading instruments, including 45+ currencies, 5+ cryptos, and 5+ CFDs. They allow traders to use EAs and robots, and also permit scalping and news trading. Additionally, they offer a MAM account for traders who wish to manage multiple accounts. Hotforex provides a reliable and secure trading environment for traders of all levels.

Our Ratings

Pros:

• Low minimum deposit requirement – HotForex requires a minimum deposit of just $50, making it one of the most accessible brokers for beginner traders. 
• Competitive spreads – HotForex offers competitive spreads, helping traders to maximize their profits.
• Extensive asset selection – HotForex offers a wide range of assets, including forex, commodities, stocks, indices, and cryptocurrencies. 
• Variety of account types – HotForex offers different account types to suit different trading styles and levels of experience. 
• Excellent customer support – HotForex provides customer support 24/7, ensuring that traders can access help whenever they need it. 

Cons:

• Limited research and analysis tools – While HotForex offers a range of research and analysis tools, these are somewhat limited in comparison to other brokers. 
• No copy trading – HotForex does not offer copy trading, which may be a disadvantage for those interested in this feature.

Eightcap.com — Best for Trading Support

Eightcap is a regulated broker based in Australia that was established in 2009. It is best known for its excellent trading support and offers its clients the choice of using either MT4, MT5 or TradingView platforms to trade. Eightcap has a strong focus on providing superior customer service, making it a great choice for all types of traders.

Eightcap is a broker that provides a variety of trading conditions to its customers. It allows EAs and robots to be used, as well as scalping. There are 45+ currencies, 300+ cryptos and 800+ CFDs available for trading. In addition to these, Eightcap also offers PAMM and MAM accounts to its customers, allowing for a more diversified trading experience.

Our Ratings

Pros:

• Low trading fees: Eightcap charges competitive trading fees, with no hidden commissions. 
• Regulated broker: Eightcap is regulated by the Australian Securities and Investments Commission (ASIC), providing assurance to traders that their funds are secure and protected. 
• Wide range of CFD instruments: Eightcap offers a wide range of CFD instruments, including forex, indices, commodities, and cryptocurrencies. 
• Advanced trading platforms: Eightcap provides access to two of the most popular trading platforms – MetaTrader 4 and MetaTrader 5. 
• Easy account opening: Eightcap’s account opening process is straightforward and uncomplicated. 

Cons:

• Limited range of research tools: Eightcap does not offer any research tools to its clients. 
• Limited customer support: Eightcap’s customer support team is limited and not always available.

FXTM.com — Best For Trading Conditions

FXTM is a regulated broker established in 2011, offering trading conditions that are among the best in the industry. They provide a variety of platforms, including MT4, MT5, and WebTrader, making it easy for traders of all skill levels to take advantage of the market. Based in Mauritius, FXTM is a reliable and secure broker that offers a safe and secure trading environment for all types of traders.

FXTM is a broker that offers a wide range of trading instruments for its clients. With FXTM, you can trade over 55+ different currencies, 4+ different cryptos, and 190+ CFDs. Trading with FXTM is flexible, as they allow EAs or robots, scalping, and news trading. Additionally, they offer MAM accounts, which can be beneficial for those who are looking to manage multiple accounts.

Our Ratings

Pros:

• Low minimum deposit requirements 
• Fast withdrawal processing times 
• Offers a wide range of trading products 
• Comprehensive educational resources 
• Highly regulated by reputable international authorities 

Cons:

• No support for automated trading 
• Limited range of research and analysis tools

What is a Forex Broker?

A Forex broker is a dedicated financial intermediary crucial for individuals and businesses participating in currency trading within the vast global foreign exchange market. Serving as a vital link between traders and the dynamic realm of forex, these brokers provide online platforms for buying and selling various currencies. Opting for a reputable and regulated Forex broker is paramount to ensuring a secure and efficient trading experience, complemented by essential tools and analysis to navigate the intricacies of currency transactions within the expansive forex landscape.

Discover More : Understanding the Basics of a Forex Broker

What are the Most Trusted Forex Brokers in Thailand ?

According to our research and broker ratings, Pepperstone, IC Markets, XM, and FBS emerge as the most reliable forex brokers for trading in Thailand . These brokers are highly regulated by top regulators including FCA, ASIC, CySEC, BaFIN, DFSA, SCB and so on.  They also offer segregated client fund accounts with tire 1 banks. for example. Here are our trust score for the following brokers 

• Pepperstone : 9.4 
• IC Markets    : 9.3
• XM                : 9.3 
• FBS              : 9

What is the No 1 Forex Brokers in Thailand

Based on our in-depth research and ratings, Pepperstone is the number 1 forex broker in Thailand . The broker is not only popular in Thailand  but also globally. Additionally, the broker is regulated under top-tier regulators worldwide, including FCA, ASIC, CySEC, and others. Pepperstone secures a score of 9.4 out of 10, the highest in our research

What are the Best MT4 Forex Brokers in Thailand ?

Based on our in-depth research and test results, the best MT4 forex brokers in Thailand are:

• IC Markets
• Pepperstone
• Eightcap
• Tickmill
• XM
• FBS

They offer thousands of trading instruments, including forex, crypto CFDs, stock CFDs, and indices.

What are the Best MT5 Forex Brokers in Thailand ?

MT5 a multi-asset trading platform by MetaQuotes. It is second most popular forex trading platform in the world. Most of the forex brokers in Thailand  offer MT5 Trading Platforms. According to our brokers research and ratings, the best MT5 Forex Brokers in the UK are 

• Pepperstone
• IC Markets 
• FBS 

MT5 perform allows traders to perform  technical analysis and trading operations in the Forex market

What are the Best ECN Forex Brokers in Thailand?

Our findings and broker ratings show that the best ECN Forex brokers in Thailand are 

•  Pepperstone 
•  IC Markets 
•  XM
•  FXTM 
•  Hotforex 

These brokers offer low trading fees. They also offer seamless deposit and withdrawal processing. Among the brokers, Pepperstone we ranked Pepperstone as No 1 forex brokers in the world

Which Forex Brokers are Best for Beginners in Thailand ?

From our research, analysis, testing, and experience; XM, hotforex, FBS, and Exness are the best brokers for beginners in Thailand . They all provide comprehensive training resources for newbies and also demo accounts for practice. When the newbies are ready for live trading, these brokers offer micro accounts which they can use to start experimenting with live trades at very little risk.

Which Forex Brokers Offer Copy Trading Platforms in Thailand ?

The best forex brokers offering copy trading platforms in Thailand include eToro, Pepperstone, IC Markets, and FBS, among others. Among these, eToro is renowned for its social copy trading. Moreover, you can use almost all forex brokers for copy trading purposes if they allow EA trading

Which Forex Brokers offer High Leverage in Thailand ?

FBS is one of the highest-leverage forex brokers that offers services worldwide, including in Thailand. FBS provides a 1:3000 leverage, allowing for up to $3000 in trading capital for every $1 risked. However, the leverage in the EU and the USA is fixed. In the EU and Australia, retail traders can take up to a 1:30 leverage, while US regulators allow a maximum 1:50 leverage for retail forex traders. Many brokers have multiple entities for traders in different countries. Here is a list of the highest-leverage forex brokers:

FBS.com : 1:3000

Exness.com : 1:2000

Hotforex : 1:1000 

How Can I Trade Forex in the Thailand ?

Find a reliable forex broker:

Look for a regulated forex broker that offers trading services in Thailand. You can check the website of the Securities and Exchange Commission (SEC) of Thailand to see a list of authorized forex brokers.

Open a trading account:

Once you’ve chosen a broker, you can open a trading account by filling out an application form and submitting the required documents, which usually include your identification and proof of address.

Fund your account:

After your account is approved, you can fund it using various payment methods, such as bank transfer, credit/debit card, or e-wallet.

Choose your trading platform:

Most brokers offer trading platforms that allow you to access the forex market and execute trades. You can choose a platform that suits your needs and preferences.

Start trading:

Once you have funded your account and chosen a trading platform, you can start trading forex. You can choose from a variety of currency pairs and use different trading strategies to try and make a profit.

Manage your risk:

Forex trading involves risks, so it’s important to manage your risk by setting stop-loss orders and using appropriate leverage. You should also have a trading plan and stick to it.

Keep learning:

Forex trading is a complex and dynamic market, so it’s important to keep learning and improving your trading skills. You can use educational resources provided by your broker, attend webinars and seminars, or join online trading communities to learn from other traders.

Different Types of Forex Brokers in Thailand ?

Dealing Desk:

Market Maker: These brokers act as counterparties to their clients’ trades and take the other side of the trade. They create their own market by setting their own bid/ask prices and spreads. As a result, they can provide instant execution of trades but may face potential conflicts of interest since they have a vested interest in the trade’s outcome.

No Dealing Desk:

Electronic Communication Network (ECN): These brokers offer direct access to the interbank forex market, where buyers and sellers trade directly with each other. The broker acts only as a middleman and charges a commission for their services. This model provides traders with transparent pricing and access to institutional liquidity but may have slower execution times due to the nature of the market.

Straight-Through Processing (STP):

These brokers execute their clients’ trades directly with liquidity providers without any intervention or manipulation. They pass on the orders to liquidity providers and earn a markup on the spread or charge a commission for their services. This model is fast and efficient and provides traders with transparent pricing but may have higher trading costs than other models.

Types of Trading Platforms in Thailand ?

Web-Based Platforms:

These trading platforms can be accessed through a web browser, and they don’t require any software to be downloaded or installed. Web-based platforms are user-friendly and allow traders to access their accounts from any device with an internet connection.

Desktop Platforms:

These trading platforms require traders to download and install software on their computers. Desktop platforms offer advanced features such as custom indicators, automated trading, and advanced charting tools. They can also offer faster execution speeds compared to web-based platforms.

Mobile Platforms:

These trading platforms are designed specifically for mobile devices such as smartphones and tablets. Mobile platforms allow traders to monitor their accounts, place trades, and access market information on the go.

Social Trading Platforms:

 These platforms allow traders to copy the trades of other successful traders. Social trading platforms provide a way for novice traders to learn from experienced traders and can be a valuable tool for learning how to trade.

MetaTrader 4/5 (MT4/MT5):

MT4/MT5 is a popular trading platform used by traders in Thailand and around the world. It offers advanced charting tools, automated trading capabilities, and a wide range of indicators and trading strategies.

CTrader:

CTrader is another popular trading platform used by traders in Thailand. It offers advanced order management tools, customizable charting, and a wide range of trading tools and indicators.

How to Choose the Best Forex Brokers in Thailand ?

Choosing the best Forex broker in Thailand can be a challenging task, as there are many options available and each broker offers different features and benefits. To help you make an informed decision, here are some key factors to consider when selecting a Forex broker:

Regulation:

Make sure the broker is regulated by a reputable financial authority, such as the Securities and Exchange Commission of Thailand (SEC). This will ensure that your investments are protected and that the broker operates in a transparent and ethical manner.

Fees:

Look for a broker that charges low fees for trades and withdrawals. Some brokers may also offer a commission-free trading option, which can be a good choice if you trade frequently.

Trading platform:

Choose a broker that offers a user-friendly trading platform, with advanced charting and analysis tools. The platform should be easy to use and have a fast execution speed, so you can make trades quickly and efficiently.

Customer support:

Look for a broker that offers excellent customer support, with a range of options such as email, phone, and live chat. This will ensure that you have access to help when you need it.

Education and resources:

A good Forex broker should provide a range of educational resources, such as online courses, trading guides, and webinars, to help you improve your trading skills.

Reputation:

Read online reviews and testimonials from other traders to get a sense of the broker’s reputation and customer satisfaction.

Frequently Asked Question (FAQs)

Is Forex Trading Legal in Thailand ?

In Thailand, Forex trading has been legal for retail investors since 2017 when the Bank of Thailand amended investment restrictions. The Securities and Exchange Commission of Thailand, or SEC, oversees and regulates the country’s capital markets, including Forex brokers and traders. As a result, Thai traders can participate in the global Forex market with confidence, knowing that their investments are protected by the SEC’s strict regulatory framework.

What is Forex trading?

Forex trading is the buying and selling of currencies on the foreign exchange market. It is a decentralized market that operates 24 hours a day, five days a week, and allows individuals and institutions to trade currencies for profit.

Why choose a Forex broker in Thailand?

Choosing a Forex broker in Thailand can provide you with access to the Thai baht and other international currencies, as well as local customer support and a more convenient trading experience.

What is the role of a Forex broker?

Forex broker acts as an intermediary between traders and the foreign exchange market. They provide traders with access to the market, a trading platform, and a range of tools and resources to help them make informed trades.

What is the minimum deposit required to open a Forex account in Thailand?

The minimum deposit required to open a Forex account in Thailand can vary between brokers. Some brokers may require a minimum deposit of as low as $100, while others may require several thousand dollars.

Is Forex trading legal in Thailand?

Yes, Forex trading is legal in Thailand and is regulated by the Securities and Exchange Commission of Thailand (SEC). However, it is important to choose a reputable and regulated broker to ensure the safety of your investments.

Conclusion

Forex trading offers exciting opportunities for traders in Thailand. By selecting a reputable and regulated Forex broker, you can access a wide range of currencies, take advantage of advanced trading tools and resources, and trade with confidence. When choosing a Forex broker, it’s important to consider factors such as regulation, fees, trading platform, customer support, educational resources, and reputation. By carefully evaluating your options, you can find a Forex broker that meets your needs and helps you achieve your trading goals.