Best Forex Brokers That Accept Traders in Thailand

Top and the best thailand forex trading brokers

Determined to bet that the Thai Baht will go up in value against the euro? If so, then you will be trading the Thai Baht/Euro currency pair. The forex market is the biggest and most liquid market in the globe.

Choosing a best forex broker is the most significant trade you will ever make in the Forex world. You will hand in all your capital to that company with the expectation of trading with it, and when the time comes, withdraw your profit.

You may be having a great plan in the forex business but what if you entrusted the wrong guys your money? What if they run off with all your money? All your strategy research and hard work become futile.

Although Thai Baht is not very known in the foreign market, Thailand has a rapidly growing forex market. With the market growing so competitive, the thought of having to analyse all the available brokers can give you a major headache. It can be a devastating task, especially if you are not sure what you are searching. Below are some in-depth tips on finding the best forex broker in Thailand.

1. Data security

Opening an account with your forex broker requires that you submit a lot of your financial and personal data. Brokers will ask for your bank account number, passport, credit card, utility bills and many other confidential information.

Poor internet security means cyber attackers will easily hack. It exposes you to identity theft, stealing of personal security data and interruption of trading activities. You should go through the privacy policy and ensure that they have clearly stated that the information will remain private and they will not sell it to third parties.

2. Customer Service

Good customer service is a sign that you will get customer satisfaction in future. Support staffs that are helpful will help smoothen out the bumps along the Forex transactions. The best forex broker in Thailand will help and accelerate your learning process as Forex trade involves use of trading software that can be hard to comprehend.

3. Check the Brokers Reviews

Usually, people buy and sell items based on reputation. Part of the research you should do is looking at the customer reviews as well as comments on your potential brokers. However, you should be mindful of the fact that most forums are not credible. Thus, you are likely to find positive and negative fake reviews.

Just like any other business, forex has its good and bad times. Since most traders cannot admit that they have had a loss, they will try and put it on others. Therefore, just because a customer complains of losing does not make the broker a bad person.

Critically look up what people are commenting on a broker. You should analyse the information while knowing that false information often gets published without any incredible referencing.

4. Avoid bonuses

When opening a forex account, you should avoid being blinded by bonuses offered by the forex broker. For example, open 1500 Thai Baht account and get 500 Thai Baht bonus cash. There is nothing that comes free in this world. The bonus is meant to entice you, but in the end, the broker will have to recover the money. You have to stay focused on what you are getting out of the transaction overlooking the bonus.

5. Spreads, fees and Commission

Just like any trade, forex trading costs can significantly affect profitability. While the difference between transaction costs may seem small right now, it will accumulate over time. Especially if you will be an active trader, the costs can suck in your profit.

However, you should note that although there are many low trade-off brokers, the expensive brokers offer high-level services. Some of the high-level services are essential in forex trade. The services include better customer service and support, trading tools and platforms, market analysis and training materials. You should thus, ensure that if you choose the expensive broker, the amount is worth the pay.

10 Low Spread Forex Brokers that Accept Thailand Traders

BrokerInfoBonusOpen Account
OCTAFX forex broker Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), CySEC
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win.Visit Broker
new logo FBS Markets inc Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit BonusVisit Broker
xm best forex broker Min Deposit: $5
Spread: From 0 Pips
Leverage: 888:1 “*This leverage does not apply to all the entities of XM group.”
Regulation: ASIC, CySEC, IFSC Belize
“50% +20% deposit bonus up to $5,000, Loyalty Program Bonus “*Clients registered under the EU regulated entity of the Group are not eligible for the bonus and the Loyalty Program”Visit Broker
exness forex broker review Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account DepositVisit Broker Gain Capital review USA Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 400:1
Visit Broker
FXOpen ECN Broker Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
Visit Broker
Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
Visit Broker
OANDA Logo USA Min Deposit: no minimum deposit
Spread: 1.2 pips
Leverage: 50:1
Visit Broker
etoro best forex broker USA Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, FCA, CySec
Visit Broker
City Index forex broker Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 500:1
Regulation: FCA UK, ASIC Australia, MAS Singapore
Visit Broker

6. Trade Execution

It is crucial that you get a good trade broker with good trade execution practices. It will ensure that you get to do your transactions on time with good trade execution practices. Below is a comparison between the STP broker and deal desk brokers to help you decide which one you would prefer.

– Dealing Desk Brokers

These Forex brokers will be your direct counterparty when it comes to trade. Thus, any gain on your side will be a loss to them. It does not necessarily mean that they are working against you. The business model of these brokers is of making a bid or asking spread when the clients enter and exit trades.

They offset the market risk of the trades you put in with the trades from other traders and liquidity providers. The brokers provide fixed spread since they can determine the rates available. Often, they run a matched book and hedge their exposure accordingly.

– STP/ECN brokers

They channel their orders straight through the interbank market. The financial institutions include banks, hedge funds, mutual funds. They often see quotes in the interbank market and add a few fractions to act as their compensation. They channel your order to the best liquidity provider.

The STP brokers have little control over your quotes they offer floating spreads to widen volatility and illiquidity of the market. Besides, they allow your orders to interact with other client’s requests through Electronic trading network (ECN). Thus, you will be able to see the best price offered at that moment. ECN allows you to buy and sell orders from other client’s orders. In addition to the spreads, they also charge commissions.

7. Product coverage

Forex trade allows trade of more than the currencies. The inventive and innovative brokers will give you access to more trading areas than just capital market. For example, precious metals, cryptocurrency, bonds, stock indices, trade and index options.

The broad coverage differs from one broker to another. For example, a broker may offer a trade in stock indices but does not offer on a single stock. If you want to trade in more than forex you should be keen on your broker’s product coverage

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