| Updated: January 15, 2025Thailand, a country with a rapidly growing economy, has been witnessing a significant surge in the demand for forex trading services. The local financial regulatory authorities, including the Bank of Thailand and the Thailand Securities and Exchange Commission, play a crucial role in overseeing the country’s economic landscape. The Bank of Thailand, as the central bank, is responsible for maintaining the stability of the financial system, while the Securities and Exchange Commission of Thailand regulates the securities and exchange markets.
Below you can find a list with Forex brokers regulated in Thailand:
Top 11 Forex Brokers in Thailand
-
Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
-
Plus500
- Multi-Level Regulated Broker
- Proprietary trading platforms
- Easy to use mobile app
Trading Instruments- CFDs on: Forex
- Crypto
- Indices
- Commodities
- Stocks
- Options
- ETFs
-
Global Prime
- Australia regulated broker
- Advanced MT4
- $0 Minimum Account Size
-
FP Markets
- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading Instruments- Forex CFDs
- Shares CFDs
- Metals CFDs
- Commodities CFDs
- Indices CFDs
- Crypto CFDs
- ETF CFDs
-
Axi
- Raw spreads start from 0.0 pips
- Offers order execution faster than standard ECN model
- Axi Select Funded Trader Program offers funding up to $1 million
Trading Instruments- Forex
- Stocks
- IPOs
- Indices
- Commodities
- Cryptocurrencies
-
IG
- Offers different account types, including DMA (Direct Market Access) one
- Offers turbo warrants on forex pairs, commodities, indices, and equities
- Supports popular platforms like MT4 and TradingView as well as ProRealTime, L2, and more
Trading Instruments- CFDs on Indices
- Shares
- Crypto
- Futures
- Commodities
- Options
- Interest Rates
- Sectors
- Bonds
- Knock-out trading
-
Pepperstone
- Australia & CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading Instruments- Forex
- Indices
- Commodities
- Cryptocurrencies
- Share CFDs
- ETFs
-
eToro
- Popular broker for social trading
- Trading is conducted on innovative in-house platform
- Offers both investing and trading products
Trading Instruments- CFDs on Forex
- Stocks
- Commodities
- Crypto
- ETFs
- and Indices
-
XM Group
- XM provides great trading experiences using MetaTrader 4 and MetaTrader 5, which are improved by personalized features.
- Zero commission accounts are available
- Top-tier regulation from CySEC, ASIC, FSC, and DFSA oversee XM's operations, assuring transparency and client safety.
Trading Instruments- Forex
- Stocks
- Indices
- Commodities
- Thematic Indices
-
FXTM
- Established brokerage company regulated by UK FCA, Kenya CMA, and Mauritius FSC
- MT4, MT5, Mobile Trading Platform
- $1M Lloyd’s of London account insurance
-
Tickmill
- Classic and Raw accounts available to suit various trading needs and requirements.
- Popular trading platforms, such as MT4 and MT5.
- Regulated by reputable authorities: ASIC and CySEC.
Brokers Compared by Spread
| Brand | Commission per lot | |
|---|---|---|
| Fusion Markets | 0.93 avg (Classic) | $0 Classic Account, $4.50 round turn on Zero Account |
| Plus500 | 1.2 | $0 |
| Global Prime | 0.96 avg (Standard) | $0 Standard Accounts; $7 round turn on Raw Accounts |
| FP Markets | 1.1 | $0 Standard Account; $6 round turn on Pro Account |
| Axi | 1.2 | $0 on Standard Account; $7 round trip on Pro Account |
| IG | 0.86 av.spread | $0 |
| Pepperstone | 1.00 (min) | $0 (Standard Account), $7 round-turn (Razor Account) |
| eToro | 1.0 | $1 or $2 (stocks only) |
| XM Group | 0.8 | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account |
| FXTM | 0.1 | |
| Tickmill | 0.1 | $0 on Classic Account; $3 per side on Raw Account |
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Fusion Markets |  |
$0 |
| Plus500 |  |
$100 |
| Global Prime | |
$0 |
| FP Markets | |
$50 (AU$100) |
| Axi | |
$0 |
| IG | |
$0 |
| Pepperstone | |
$0 |
| eToro | |
$50 or $100 based on country ($10 for the UK, $1 in the US) |
| XM Group | |
$5 |
| FXTM | |
$200 |
| Tickmill | |
$100 |
Forex Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Fusion Markets | |
1:30 (1:500 for forex and metals via VFSC) |
| Plus500 | |
1:30 |
| Global Prime | |
1:500 (1:30 for ASIC entity) |
| FP Markets | |
1:30 |
| Axi | |
1:30 |
| IG | |
1:30 |
| Pepperstone | |
1:30 |
| eToro | |
1:30 (1:400 advanced leverage at Seychelles entity) |
| XM Group | |
1:30 |
| FXTM | |
1:2000 |
| Tickmill | |
1:30 |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Fusion Markets | |
80+ |
| Plus500 | |
60+ |
| Global Prime | |
56 |
| FP Markets | |
70+ |
| Axi | |
80 |
| IG | |
80+ |
| Pepperstone | |
90+ |
| eToro | |
55 |
| XM Group | |
50+ |
| FXTM | |
|
| Tickmill | |
62 |
Comprehensive Comparison of the Best Thailand Forex Brokers
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$0 |
|
0.93 avg (Classic) |
|
|
 |
$100 |
|
1.2 | ||
 |
$0 |
|
0.96 avg (Standard) |
|
|
 |
$50 (AU$100) |
|
1.1 |
|
|
 |
$0 |
|
1.2 |
|
|
 |
$0 |
|
0.86 av.spread |
|
|
 |
$0 |
|
1.00 (min) |
|
|
 |
$50 or $100 based on country ($10 for the UK, $1 in the US) |
|
1.0 |
|
|
 |
$5 |
|
0.8 |
|
|
 |
$200 |
|
0.1 |
|
|
 |
$100 |
|
0.1 |
|
This page aims to provide an overview of the forex trading landscape in Thailand, including the legal forms of forex trading, restrictions on currency trading, regulatory framework, requirements for forex brokers, and tips for identifying reliable brokers. We will also discuss the tax implications of forex trading in Thailand and provide answers to frequently asked questions.
Legal Forms of Forex Trading in Thailand
In Thailand, forex trading can take various forms, including Contracts for Difference (CFDs), futures, and options. CFDs are popular among traders as they allow for speculation on the price movements of underlying assets without actually owning them. Futures contracts, on the other hand, obligate the buyer and seller to trade an asset at a predetermined price on a specific date. Options contracts give the buyer the right, but not the obligation, to buy or sell an asset at a predetermined price. However, there are particular restrictions concerning the trading of the local currency, which we will examine in the next section.
Restrictions on Currency Trading in Thailand
The Thai government has implemented several restrictions on currency trading to maintain the stability of the economy and prevent excessive speculation. One of the main restrictions is the prohibition on foreign residents from opening forex trading accounts with the Thai baht as a base currency. This means that foreign residents can only trade the Thai baht against other currencies, but they cannot use it as a base currency for their trading accounts.
Additionally, there are restrictions on the amount of currency that can be traded, and forex brokers are required to report all transactions to the Bank of Thailand. The limitations are in place to prevent capital outflows and maintain the stability of the currency.
The restrictions on currency trading in Thailand are designed to protect the integrity of the financial system and maintain the stability of the economy. The Bank of Thailand closely monitors the foreign exchange market and implements measures to prevent any disruptions. The restrictions also apply to Thai residents, who are required to comply with the regulations set by the Bank of Thailand.
In addition to the restrictions on trading the Thai baht, there are also regulations governing the trading of other currencies. Forex brokers operating in Thailand must comply with these regulations and ensure that their clients are aware of them.
Who Regulates Forex Trading in Thailand?
The forex trading market in Thailand is regulated by two main authorities: the Bank of Thailand and the Securities and Exchange Commission of Thailand.
The Bank of Thailand is responsible for administering foreign exchange and has been entrusted by the Ministry of Finance with the responsibility of overseeing the foreign exchange market. The Bank of Thailand’s Exchange Control regulations aim to centralize foreign exchange in one place, channel the activities of foreign exchange for public benefit, prevent capital outflows, and stabilize the Thai baht value to ensure financial and economic stability. The regulations also require forex brokers to report all transactions to the Bank of Thailand and to comply with the restrictions on trading the Thai baht.
The Securities and Exchange Commission of Thailand (SEC) is responsible for regulating the securities and exchange markets, including the forex market. The SEC keeps a register of regulated companies, enabling traders to look for further information about their regulatory status. The SEC also oversees the activities of forex brokers and ensures that they comply with the regulations set by the Bank of Thailand. The SEC’s role is crucial in maintaining the integrity of the financial system and protecting the interests of traders. The commission works closely with the Bank of Thailand to ensure that the forex market is regulated effectively and that traders are protected from any fraudulent activities.
Requirements for Forex Brokers in Thailand
There is a limited choice of locally regulated forex brokers catering to Thai traders. The SEC keeps a register of the regulated companies, enabling traders to look for further information about their regulatory status. To operate in Thailand, forex brokers must meet certain requirements, including providing fair and transparent pricing and trading environment, risk management tools, keeping customers’ funds in segregated accounts, and negative balance protection.
However, there are no specific limitations on the maximum allowable leverage on forex trading to retail clients. Forex brokers must comply with the regulations set by the Bank of Thailand and the SEC, including the restrictions on trading the Thai baht.
Currency brokers operating in Thailand must also ensure that their clients are aware of the risks associated with forex trading and provide them with adequate training and support. The financial service providers must also comply with anti-money laundering and know-your-customer regulations, which are designed to prevent any fraudulent activities.
How to Identify Reliable Forex Brokers Accepting Thai Clients?
To identify reliable forex brokers accepting Thai clients, traders should look for brokers who are licensed by the SEC and have a good reputation in the market. Traders can check the SEC’s register of regulated companies to ensure that the broker is licensed and compliant with the regulations.
Additionally, traders should look for brokers that offer transparent pricing and a fair trading environment, risk management tools, and negative balance protection. Traders should also read reviews and check the broker’s ratings to ensure that they are reliable and trustworthy.
They should also be aware of the restrictions on trading the Thai baht and ensure that the broker complies with the regulations set by the Bank of Thailand. The broker should also provide adequate training and support to traders and ensure that they are aware of the risks associated with forex trading. By doing their research and due diligence, traders can identify reliable forex brokers that accept Thai clients and provide a safe and secure trading environment.
Are There Taxes on Profits from Forex Trading in Thailand?
Forex trading in Thailand is subject to taxes. The tax rate varies depending on the type of income and the taxpayer’s residency status. Thai residents are subject to income tax on their income, including profits from forex trading. Non-residents are subject to income tax only on income derived from sources in Thailand. Traders should consult with a tax professional to ensure they comply with the tax regulations and declare their income accurately.
The tax implications of forex trading in Thailand can be complex, and traders should be aware of the regulations and requirements. The tax authority in Thailand, the Revenue Department, requires traders to declare their income from forex trading and pay taxes accordingly. Traders should keep accurate records of their trading activities and ensure that they comply with the tax regulations.
FAQs
What are the most popular forex trading platforms in Thailand?
The most popular forex trading platforms in Thailand include MetaTrader, TradingView, and cTrader.
Can Thai traders of the Muslim faith open swap-free accounts?
Yes, some forex brokers in Thailand offer swap-free accounts for Muslim traders, which comply with Islamic law, prohibiting paying and receiving interest.
Where can Thai traders submit complaints?
Thai traders can submit complaints to Thailand’s Securities and Exchange Commission’s complaint center. They can get in touch with the financial authority either by phone ((0-2033-9999, 1207), or by email ([email protected]).
Does Thailand’s Securities and Exchange Commission maintain a register of regulated forex brokers?
Yes, the SEC maintains a register of regulated companies, including forex brokers, which can be accessed by traders to verify the regulatory status of a broker.
Can foreign residents open forex trading accounts with Thai brokers?
Yes, foreign residents can open forex trading accounts with Thai brokers, but they are not allowed to use the Thai baht as a base currency.
Conclusion
In conclusion, the forex trading landscape in Thailand is regulated by the Bank of Thailand and the Securities and Exchange Commission of Thailand. The country has implemented several restrictions on currency trading to maintain the stability of the economy and prevent excessive speculation. Forex brokers operating in Thailand must comply with the regulations set by the Bank of Thailand and the SEC, including the restrictions on trading the Thai baht.
Traders, on the other hand, should be aware of the requirements for forex brokers in Thailand and look for brokers that are licensed by the SEC and have a good reputation in the market. By doing their research and due diligence, traders can identify reliable forex brokers that accept Thai clients and provide a safe and secure trading environment.
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What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker’s service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at [email protected] or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.