Thailand is one of the most populated Southeastern Asian countries, with over 69 million people. The employment rate in Thailand stands at 67.36%, meaning over 32% of Thais are unemployed. Many people in Thailand seek alternative income solutions, with thousands flocking to online jobs.
One high-profit business for Thailand is forex trading. Millions generate an income trading forex and offering forex training courses. The problem with forex trading is in finding credible brokers. Today’s article suggests the six best forex brokers for Thai investors.
What is Forex Trading?
The concurrent purchase and sale of one currency is known as forex trading. These two currencies together constitute what is referred to as a currency pair. All currency trades occur in pairs, with each currency in the pair being identified by a special three-letter code.
In a code like JPY = Japanese Yen, the first two characters stand for the nation, and the third letter denotes the currency. However, if you are delving into the world of forex trading, it is critical to choose a reliable platform.
For instance, you need to verify the best forex broker Thailand before investing your valuable capital.
Exness is a reputable forex broker that many Thai investors use. The International Financial Services Commission is in charge of the brokerage platform’s operations. It supports over 170 currency pairings, indexes, commodities, and equities and works on the MT4 and MT5 platforms.
Exness has a number of account kinds, including regular, Zero Spread, Mini, and Raw ECN. The minimum low spread is about 0.0 pip. Email and multilingual live chat are the ways you may communicate with customer service. Debit card withdrawals and deposits are supported by Exness together with Skrill, Bank Wire, and Neteller.
2. FXTM Global Entity
Under license number C113012295, FXTM Global Corporation is a Thai forex broker governed by the FSC. Thai brokers accept a variety of currencies for deposits and withdrawals. The FXTM loyalty program gives traders the opportunity to win more money.
Moreover, the top Asian forex broker of 2018 is none other than FXTM. The Forex broker accepts Online Banking Thailand for both deposits and withdrawals. For these kinds of transactions, there is no commission to pay.
Ten dollars is the minimum deposit that may be made. Spreads are offered in more than 60 currencies and begin at 0 pip. Leverage up to 2000:1 is permitted, depending on position size.
3. FP Markets
FP Markets is a reliable and well-known forex broker worldwide. It is a limited liability company with license number 126 LLC 2019 from Saint Vincent and the Grenadines. The website’s contents are available in Thai. Online banking deposits from Southeast Asia via PlusDebut and XPay are supported by the broker. For the deposits, there is no commission fee.
The minimum deposit amount at FP Markets is $100. Spreads for Thai traders start at 0.3 pip, and they have access to over 70 currency pairings. It may be leveraged up to 500:1.
Another well-known forex broker for traders in Thailand is AvaTrade. The broker is registered with St. Vincent BVI under license number SIBA/L/13/1049. Thai language is one of the main languages available on the broker’s website. They provide dependable customer service in Thailand to quickly address consumer concerns. It is possible to open an account using THB, the local currency.
The minimum deposit cost at AvaTrade is $100. When you first open an account with the broker, you should deposit at least $100. More than 60 currency pairs are available for trading, with fixed spreads beginning at 0.9 pip.
Another excellent broker for Thai traders is Etoro. The broker is governed by CySEC regulation and operates under license number 109/10. Thai is one of the main customer support languages that they offer, in addition to other languages. Traders require a larger starting budget to begin trading with Etoro Thai brokers. The site accepts deposits of as little as $200.
There is just one account-based currency in USD that the broker offers. With spreads of as little as one pip, traders from Thailand have access to over 47 forex currency pairs.
Are you a citizen or resident of Thailand and want to maximize your foreign exchange profits? OctaFx provides better trading experiences. With license number 19776, OctaFX is a well-known and reliable forex broker governed and licensed by Saint Vincent and the Grenadines. Customer service is always available in a language you can understand. They have native Thai representatives on their bilingual customer service staff.
With several accolades to its name, the organization is among the top Asian forex brokers. For every deposit method, the firm gives a 50% deposit incentive. You can use a nearby bank to deposit it into your account. Thai traders are only allowed to make a $100 minimum deposit. Even $25 deposits are accepted by them. Over 35 currency pairs with spreads starting from 0.6 pips can be traded.
One of the enjoyable methods to get additional money in Thailand is through FX trading. In recent years, a large number of Thais have made investments to master the art of forex trading. Gaining experience in forex trading does not ensure success. What and when you cash out are at the discretion of the FX trading broker you choose.
With the top brokers, you may expect to cash in more frequently and manage a thriving forex trading company. The aforementioned six brokers have been tested and found trustworthy and legitimate. They provide greater spreads, a variety of deposit alternatives, and first-rate support services.