How to Open an Account and Start Trading Forex in ThailandJune 24, 2020
Thailand is uncharted territory for some foreigners, especially in the field of forex trading. Some even thought that forex trading Thailand is illegal. But with the booming economy of the Kingdom of Thailand, more investors and individuals are testing the waters of forex trading Thailand.
After you have reviewed all the possible scenarios of investing and trading in Thailand, once you understood the law of Forex Trading Thailand, the next step is opening an account.
Nowadays Thailand offers a great number of online forex brokers. Finding a reputable online forex broker is a must. Here is a list of some of the top brokers that serve those who are interested in forex trading Thailand. These sites offer the best online brokerage for your needs and conveniently we have included websites that can be translated in the Thai language.
Thai traders might be interested in forex trading in the United States. Forex.com is the largest U.S. based broker that caters to Thailand. Forex.com offers three platforms for trading forex, one of which is MT 4/5 which requires a $250 minimum deposit. The leverage of FOREX.com is pretty low and offers only a 50:1 ratio of maximum leverage on forex trades. If you are a beginner in forex trading in Thailand, Forex.com has a user-friendly interface, and you can be sure to get excellent customer support in case you encounter any problems. They also have a wide range of research and tools for your trading needs.
FBS is one of the few online forex trading sites that is translated to Thai which is very convenient for anyone interested in Forex Trading. It has also had an office in Thailand, giving efficient service to Thai traders.
FBS has four varying account types to choose from and you can open an account for as low as $1 minimum initial deposit.
CySEC has oversight of FBS and they conform to the EU’s MiFID or Markets in Financial Instruments Directive. Commissions go as high as $6 per lot traded aside from the dealer spreads and the maximum leverage is 3,000:1 on some.
FBS gives traders a chance to use the MetaTrader 4 and 5 trading platforms.
FXCM has two account types to choose from which the ASIC in Australia and U.K’s FCA have an oversight. These two account types are the standard account and the ActiveTrader account. For the standard account, the minimum deposit is $50. In the ActiveTrader account, the initial deposit is $25,000. FXCM has a proprietary award-winning Trading Station platform and also the MetaTrader 4. Leverage of trades is higher via FXCM Australia which is 200:1 and lower leverage of 30:1 via FXCM U.K.
FxPro offers variable dealing spreads and fixed dealing spreads with a commission of $9 when you open and close a position. This NDD broker offers three varying accounts that are based on the trading platforms used. The three account types are MT4 MT5 and cTrader.
Opening any account type with FxPro has a minimum deposit of $100. It has a leverage of 500:1 trading ratio.
XM is an award-winning broker based in the EU. It offers three varying account types aside from an interest-free Islamic account. XM has oversight from the FCA, the ASIC, and CySEC. You can open an account with a minimum deposit of $5 and have a commission of $3.5 per lot traded.
It offers accounts with a minimum balance of $5,000 a free use of VPS hosting and uses MT4 and MT5 platforms. XM has a wide range leverage ratio of 1:1 to 500:1.