Forex trading in Thailand: market review and top online brokers
Thailand is an emerging economy and ranks second in Southeast Asia in terms of economic performance. The basis of the economy is the service sector and tourism (about 50% of GDP), industrial production (40%), and agriculture (10%). Thailand exports mainly electronics, agricultural products, automotive parts, and processed foods. For example, Thailand is the ASEAN leader in the production and sales of cars, (the world’s largest supplier of pickups), the export of which reaches 200 thousand units per year. In addition, Thailand supplies tin and tungsten to the world market and ranks second after Canada in the export of gypsum.
The growing industry and successful business are attractive to global investors, who contribute to the active development of infrastructure, which in turn affects Thailand’s economic growth. In the presence of all the benefits, a flow of tourists is ensured, which brings significant profit from tourism expenses.
With regard to monetary circulation and public finances, the monetary unit of Thailand is the Baht. The Bank of Thailand, founded in 1942, is responsible for the state of the country’s financial system. Since 1975, a securities market known as the Stock Exchange of Thailand has been operating in the country under the auspices of the state.
With a gross domestic product of $502 million for 2020, the country boasts a growing economy, making it an attractive location for international brokerage of foreign exchange and other popular financial instruments.
Forex trading regulations in Thailand
Forex trading is becoming increasingly popular in Thailand: trading volume has increased rapidly over the past five years.
Thai traders can choose from several top international licensed Forex brokers that offer services to their clients. Quite a few Forex brokers are also based in Thailand and are regulated by BOT (the Bank of Thailand) and Thai SEC (Securities and Exchange Commission), although they may not have as wide a range of services as top foreign brokers. On the contrary, the international brokers that we mentioned in this article will provide you with the best conditions, a wide range of financial instruments, as well as various Forex bonuses of up to $5000 on your first deposit.
In case you are new to the Forex market or not up to full-time trading, there is an amazing tool for you like Copy Trading. It is one of the easiest ways to take advantage of the expertise of other traders. Even those who do not understand how the financial markets work can make money by simply automatically copying professionals. Besides, brokers give various Forex bonuses, and you can test your trading strategies without spending your own money.
Popular online trading instruments in Thailand
As one of the most attractive markets in Southeast Asia, Thailand is one of the main regional players when it comes to commodities, currencies, CFDs, and stocks. A wide range of financial instruments gives traders enough options to choose from wherever their trading interests may lie.
Currency pairs trading in Thailand
The Thai Baht is an important currency for the Southeast Asian region due to the fact that Thailand has a relatively stable regional economy. The Baht is denoted by the symbol ฿ and has the currency code THB. There is 1.455 trillion ฿ in circulation, and a volume of approximately US$1.6 billion is traded daily on global foreign exchange markets.
The Baht is commonly traded in pairs with the major world and Asian currencies, including USD, AUD, EUR, GBP and JPY, and others. Traders in Thailand also have access to dozens of major and minor combinations as well. Besides, the Thai Baht is highly convertible which allows residents and non-residents to trade freely in the international market, which opens up many earning opportunities for traders.
XM Group – the most popular and trusted Forex broker in Thailand – provides access to a variety of financial instruments including more than 50 currency pairs. Founded in 2009 it has millions of clients worldwide, offering traders several choices of trading platforms such as MT4 and MT5 to trade multiple financial instruments such as CFDs, commodities, stocks, shares, precious metals, and energies.
XM also offers a multi-level Forex bonus program: mainly, there are three bonus types complementing each with free VPS and zero-fee deposits and withdrawals. The broker offers a 100% automatic entry bonus of up to $5000 and a transparent referral program: you get $35 for each friend that joins XM as your referral.
Online ommodity trading in Thailand
In Thailand, commodity trading includes trading in precious metals, energy products, and agricultural commodities. Some commodities, such as metals, have shown solid growth in Thailand since 2002. They make up the bulk of Thailand’s trade volumes, not only in the traditional export market but also in online brokerage trading.
HF Markets is an internationally reliable broker with a presence in over 180 countries, 27 supported languages, and over 2.5 million active accounts. It offers online Forex and CFD trading on currencies, commodities, stocks, indices, Cryptos, and other instruments. In particular, HF Markets provides low transaction costs and flexible leverage on Forex Gold trading. You can find more information about this trading instrument in our article.
To present its services internationally, HF Markets is following the standards of multiple reputable global regulators such as FCA (UK), CySEC (Europe), FSCA (South Africa), DIFC (Dubai), and SFSA (Seychelles).
Also, it offers a Forex bonus of up to $5000 on your first deposit and a cumulative bonus on your deals of up to $8000. Moreover, HF Markets created an HFcopy – Copy Trading feature where anyone can join as a follower or as a pro trading strategy provider.
CFDs trading in Thailand
Day by day, CFD trading is becoming more and more popular in Thailand. This kind of asset permits users to play on changes in the value of those instruments without having to purchase them. To start your CFD trading in Thailand, you need to open an account on a CFD trading platform. There are a number of reputable brokers to choose from, and they vary in the number of CFDs available and trading instruments included.
OANDA offers a lot of variety of contracts. The list of financial instruments consists of CFDs on indices, commodities, and bonds. The broker gives access to two types of trading platforms: fxTrode (Oanda’s personal development) and MetaTrader 4. Both of these platforms are available in three types: desktop, mobile, and Web.
In addition to CFDs, traders can choose from a variety of instruments such as Forex: more than 70 currency pairs; metals: Gold and Silver; commodities: Oil, Natural Gas, Copper, Wheat; indices – 16 in total and Bonds.
Globally, OANDA offers three account types: demo, Standard, and Advanced Trader, which makes the broker a fine fit for both new and seasoned trades. Moreover, there is no minimum deposit to open an account with OANDA.
Cryptocurrency trading in Thailand
The volume of Cryptocurrency trading in Thailand is increasing significantly due to the large number of young people who want to leave the service and manual labor sectors, as well as the wide adaptation of online technologies which give anyone the opportunity to earn on Forex.
The country follows the same policy as Japan, Singapore, and Hong Kong, which encourage Cryptocurrency activities. It was also one of the first countries to welcome blockchain technology. So if you want to trade Crypto in Thailand, international licensed brokers will provide you with safe and convenient purchases of Cryptocurrencies with minimum commissions.
AvaTrade is one of the most trusted Forex brokers in the world. It is licensed by such regulatory bodies as ASIC, FSA, Abu Dhabi, and British Virgin Islands regulators. The broker offers such a range of Cryptocurrencies as Bitcoin, Ethereum, Ripple, Dash, Litecoin, Bitcoin Gold, and EOS. In addition to Crypto, 1250 instruments are available to clients: stocks, securities, indices, commodities, currency pairs, and CFDs.
Also, AvaTrade provides a Copy Trading feature – your chance to earn some passive income just by automatically following the moves of more experienced traders.
Top Forex Brokers in Thailand
Access to the global network and international market in Thailand is driving the rapid growth of Forex trading. To start trading, you need a broker that has a good reputation and a license. Today there are many international Forex brokerage companies, each of them with its own terms and conditions. When choosing a Forex broker, there are several criteria to consider, namely its reputation among traders, safety and reliability, lifespan, availability of leverage, the convenience of payment systems, the trading platform used, etc.
Offering the best conditions and security, here is a list of the best Forex brokers in Thailand:
Exness in Thailand
Exness is one of the best online brokers in the world, accepting clients from all over the world and providing trading in many popular instruments such as currency pairs, stocks, indices, metals, energies, and popular Cryptocurrencies.
Exness does not charge any management or withdrawal fees, and trading costs can be minimized by choosing the right account type.
Market participants will be able to find the right terminal for their needs and requirements as the broker provides 4 different but familiar platforms Meta Trader 1, MetaTrader 4, MetaTrader 5, or MetaTrader WebTerminal. In addition, Exness has developed a mobile app for iOS and Android to follow the 24/7 market movements. Also, those wishing to increase the connection speed can use the VPS service from Exness.
Broker accounts are divided into standard retail, and professional ones, as well as a demo, in order to test their strategies before making real trades.
You can deposit and withdraw funds using local currencies, including the most popular payment systems in the world, electronic wallets, and Crypto wallets.
Exness is licensed by such regulatory bodies as FCA, CySEC, FSCA, FSC, FSA, and others. Try trading with Exness using our dedicated button below.
OANDA in Thailand
OANDA – a reputable US-originated broker with millions of clients around the world and long history of operations – for more than 2 decades of work earned itself a stellar reputation among users, compiling with a slew of global regulators at the same time.
The broker is an excellent choice for new traders since there are demo accounts available together with detailed educational materials and market insights, and no minimum deposit requirement. With minimal commissions and spreads, a variety of trading instruments including Forex, Indices, Commodities, and Crypto including Bitcoin and Ether, advanced trading platforms, and mobile apps.
XM Group in Thailand
XM Group has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms, including Forex pairs, equities, commodities, and other instruments with some of the most reliable and fastest order execution available.
XM Group is a broker meeting the best regulatory standards. Its activities are regulated by Cypriot, Australian, and British organizations such as ASIC, CySEC, and IFSC which are the highest level financial regulators, and all brokerage companies licensed by at least one of them must meet strict criteria and are subject to severe supervision.
Brokers provide clients with a demo account where traders can practice their skills and knowledge. In addition, the broker offers four types of accounts with negative balance protection, good leverage, and tight spreads: Micro, Standard, XM Ultra Low, and Shares.
The nice part to mention is that XM Broker offers different bonuses: a 100% entry bonus of up to $5000, client referral, and occasional bonuses.
HF Markets in Thailand
HF Markets (formerly known as HotForex) is a well-known Forex broker, whose services are used by traders from around the world. HF Markets has the opportunity to choose a trading account with the conditions that a client needs. The broker offers both classic trading accounts, as well as Islamic ones, and accounts with premium trading conditions for demanding traders.
The choice of trading instruments is also more than sufficient. In addition to the usual currency pairs, there are CFDs on metals, energies, stocks, indices, and even ETFs. There is also the possibility to buy and sell stocks live, and not through CFDs. Funds are deposited without commissions, withdrawals are fast and convenient. There is also a fairly large selection of methods and payment systems for depositing and withdrawing your funds.
AvaTrade in Thailand
AvaTrade is a broker that offers a number of tools, from tech-advanced auto trade terminals to financial risk-management initiatives. This broker can be classified as international, as its representative offices serving more than 50 thousand clients are located all over the world. The broker is regulated by six financial authorities, including ASIC, FCA, and CySEC.
The advantages of the company include the absence of commissions, fixed tight spreads, as well as the availability to open a free demo account, through which you can test your strength in trading and try out the possibilities of your strategies.
NAGA in Thailand
NAGA Markets is a fully licensed and regulated broker with over 950 trading instruments and assets. Its clients can trade commodities, Crypto assets, and Forex currency pairs, and make deals on the markets of futures, precious metals, ETFs, and indices. There is also available CFD trading.
Brokers provide users with trading with minimal risk, even if they are new to trading. NAGA has made this possible with a special automatic Copying feature. NAGA AutoCopy is an innovative tool that allows you to automatically follow the top traders on the platform and learn from their experiences.
FXTM in Thailand
FXTM is the international broker that has been one of the first to establish a serious presence around the world, and now offers access to the financial markets to traders throughout the country and the wider Asian continent. It provides an extensive educational base, investment opportunities, and attractive trading conditions. Moreover, it offers interesting trading tools and features, CopyTrading being the main one.
By registering and verifying an account with several TOP brokers in Thailand, you can not only compare different trading platforms to find the most suitable one but also maximize the Forex bonuses you receive. This will allow you to test many trading strategies and set the way to becoming a true professional trader.
Related articles:
Review of MT4 and MT5 Forex trading terminals, as well as web-based, proprietary trading platforms used by leading brokers, with free VPS hosting and the Copy Trading feature for earning passive income.
Forex trading with leverage and margin: definitions of terms, trading benefits, margin calls, and risk-management strategies. Top Forex brokers offering Social trading, demo, and swap-free Islamic accounts with the best leverage and margin parameters for trading currency pairs, stocks, commodities, indices, ETFs, Cryptocurrencies, and other instruments.
All about CFDs trading: the essence of the financial derivative and key functional principles, including trading with leverage. The main advantages of financial derivatives and the best Forex brokers providing trading in CFDs for currencies, commodities, indices, Cryptocurrencies, and other instruments with various bonuses (including ones on initial deposits), Copy trading, free VPS hosting, and swap-free Islamic accounts.
Top Forex Brokers in Thailand - FAQ