Brokers With THB Accounts
Brokers with THB accounts allow traders to make deposits and withdrawals and manage their trading accounts in the Thai Baht. This can eliminate currency conversion fees for traders based in Thailand while supporting brokers are more likely to accept local payment methods, including wire transfers from Kasikorn Bank and Siam Commercial Bank.
This guide ranks the top brokers with THB accounts in 2024. We also explain how to check if a trading platform accepts the Thai Baht, alongside tips for comparing firms.
Brokers With THB Accounts
These are the 5 best brokers that offer accounts with THB as the base currency:
Brokers With THB Accounts Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Visit |
|---|---|---|---|---|
|
$10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | Exness Trade App, MT4, MT5, TradingCentral | Visit |
|
$10 | Digital Options on Stocks, Indices, Forex, Commodities, Cryptos | Web Platform, Mobile App | Visit |
|
$1 | CFDs, Forex, Stocks, Cryptos, Commodities | MT4 | Visit |
|
$1 | Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures | MT4, MT5 | Visit |
|
$100 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto | MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral | Visit |
#1 - Exness
Why We Chose Exness
Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 260,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.
"Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator: FSA, CySEC, FCA, FSCA, FSC, CBCS
- Platforms: Exness Trade App, MT4, MT5, TradingCentral
- Minimum Deposit: $10
- Minimum Trade: 0.01 Lots
- Leverage: 1:2000
Pros
- Local payments are available, plus deposits in BTC and USDT
- Exness is the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes
- Unlike many other brands, Exness doesn't charge any account maintenance or inactivity fees
Cons
- Unlike most competitors, Exness doesn't provide its own education section
- There are no promotional deals or loyalty schemes for high-volume day traders
- There are several regional restrictions for retail traders including the USA, Europe and the UK
#2 - Quotex
Why We Chose Quotex
Quotex has been a top binary options broker since 2019, offering over 400 binaries across currencies, commodities, stocks, and crypto. With contracts spanning 5 seconds to 4 hours, short-term traders enjoy flexibility while payouts that exceed 95%, offer high potential returns. Continuously adapting to trader demands, Quotex provides a user-friendly platform for trading binaries.
"Quotex is best for making short-term trades on popular markets. The payouts up to 98% are above average and enhancements to the platform have ensured it's easy to use for beginners. That said, the lack of regulatory oversight, limited education and weak support are key drawbacks."
- DayTrading Review Team
- Instruments: Digital Options on Stocks, Indices, Forex, Commodities, Cryptos
- Platforms: Web Platform, Mobile App
- Minimum Deposit: $10
- Minimum Trade: $1
Pros
- Quotex maintains its position as an excellent choice for short-term binary trading with turbo contracts from 5 seconds
- The $10 starting deposit and $1 minimum stake make Quotex.io accessible to beginners
- The platform continues to delivers a superb trading environment with strong charting tools for technical traders
Cons
- There is no copy trading, which could support new traders looking to learn from experienced investors
- Despite advertised payouts of up to 98%, testing shows average payouts trail best-in-class broker Pocket Option
- Quotex trails industry leaders when it comes to education and market research
#3 - SuperForex
Why We Chose SuperForex
Established in 2013, SuperForex is an offshore CFD and forex broker offering highly leveraged trades on 400+ instruments via the popular MetaTrader 4 platform. The broker has gained clients in over 150 countries and is regulated by the Belize IFSC. With a range of STP/ECN account types, including swap-free, micro and zero spread, this broker continues to suit traders with different styles and setups. SuperForex also offers a range of welcome bonuses and trading contests.
"SuperForex will suit experienced traders looking for high leverage rates and premium membership packages. The broker also continues to stand out for its wide selection of beginner-friendly accounts, although the lack of top-tier regulation is a notable drawback."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Cryptos, Commodities
- Regulator: IFSC
- Platforms: MT4
- Minimum Deposit: $1
- Minimum Trade: 0.01 Lots
- Leverage: 1:2000
Pros
- There’s a good range of STP and ECN account types to choose from, as well as crypto and cent accounts
- The broker offers an impressive range of 12+ account base currencies covering multiple global regions
- Various accessible payment methods are supported, including crypto, with zero fees and fast processing times
Cons
- The Belize IFSC is not considered a top-tier regulatory provider, so clients may receive fewer financial safeguards
- The 0.5-pip minimum spreads in the standard ECN accounts are not as tight as some of the cheapest ECN brokers, such as Pepperstone
#4 - JustMarkets
Why We Chose JustMarkets
JustMarkets is a multi-asset broker with both CySEC-regulated and offshore branches. Offering ultra-low spreads, copy-trading services, 170+ tradeable instruments and MetaTrader support, JustMarkets has a lot to offer both beginner and experienced traders.
"With some of the most affordable pricing in the game and access to the powerful MT4 and MT5 platforms, JustMarkets is a good choice for any investor."
- DayTrading Review Team
- Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures
- Regulator: CySEC, FSA, VFSC
- Platforms: MT4, MT5
- Minimum Deposit: $1
- Minimum Trade: 0.01 Lots
- Leverage: 1:3000
Pros
- Fast order executions from 0.01 seconds
- Low minimum deposit
- Tight spreads from 0 pips
Cons
- Limited availability with clients not accepted from the US, UK, Japan, Germany and other countries
- Non-forex asset list is light with just 65 stocks plus a handful of indices and commodities
#5 - FP Markets
Why We Chose FP Markets
FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.
"We recommend FP Markets for forex and stock traders with 70+ currency pairs and an impressive 10,000+ stocks available as CFDs."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto
- Regulator: ASIC, CySEC, ESMA
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (UK), 1:500 (Global)
Pros
- Regulated and reputable broker with ASIC and CySEC oversight
- Good range of additional tools and features including educational content, Myfxbook and Autochartist
- Tight spreads available on both the standard and raw spread account
Cons
- Does not accept US customers
- $55 subscription fee on IRESS accounts
- Withdrawal fees for some payment types
How THB Trading Accounts Work
Base currencies are the currencies that the broker accepts for making deposits, withdrawals, and trades – without any additional conversion fees. So when the base currency is THB, Thai traders can often fund accounts for free. In contrast, if a Thai trader opens a USD-denominated account, then their deposit in THB will be converted into USD at the current market rate, plus a commission depending on the broker.
Brokers with THB accounts also offer other advantages to aspiring traders. For one, it is easier to view and interpret account balances and trading fees in your local currency.
The top THB brokers are also more likely to be regulated by local regulators, such as the Thai Securities & Exchange Commission (SEC). In addition, THB trading platforms tend to accept local and regional deposit methods, such as Netbanx Asia.
THB Currency Explained
The Thai Baht is the national currency of Thailand, issued by the Bank of Thailand in Bangkok and was the 12th most used fiat currency used in 2022.
The Baht has been in use in some form since the 13th century. However, the modern Baht that is used today was introduced in the late 19th century, after the collapse of the traditional system of exchange that had been used in the country. The Baht was officially adopted as Thailand’s currency in 1897, and it has been in continuous use since that time.
The Baht has undergone several revaluations, with the most recent taking place in 1997 in response to a severe economic crisis in the country due to it being pegged with the USD causing currency instability.
Today, the Baht is pegged to a basket of foreign currencies, with the US dollar being the most heavily weighted. The value of the Baht is tied to the value of the currencies in the basket and is allowed to fluctuate within a certain range. The basket is managed by the Bank of Thailand and the specific weights of the various currencies in the basket are not publicly disclosed. The managed float system ultimately aims to maintain the stability of the Baht and promote healthy economic growth.
Although widely used for domestic transactions within the country, the THB is also accepted as a form of payment in some other countries in Southeast Asia, particularly in border areas where there is a lot of trade and tourism with Thailand.
Pros Of Brokers With THB Accounts
THB trading accounts offer several advantages:
- Payment Methods: Brokers that offer THB trading accounts tend to accept local payment methods, such as wire transfers from Kasikorn Bank, Siam Commercial Bank, and Bangkok Bank.
- Customer Service: Customer support offered by brokers with THB trading accounts is more likely to be available in Thai, perfect for natives.
- Fees: Thai traders do not have to pay conversion fees – they can make deposits and trades with THB – their local currency.
- Regulatory Bodies: Brokers that offer THB trading accounts are more likely to be regulated by a local financial regulator such as the Securities and Exchange Commission (SEC) of Thailand. Alternatively, brokerages may hold a license with the MAS (Monetary Authority of Singapore).
How To Check A Broker Offers THB Accounts
Here are a few straightforward ways to check if a broker offers a Thai Baht (THB) trading account:
- Use our list of the best brokers with THB accounts in 2024 – reviewed by our experts.
- Visit the broker’s website and look for information about the base currencies they offer. This will often be in the FAQs, trading accounts section, or in the payments portal.
- Contact the broker directly. If you cannot find information about THB trading accounts on the firm’s website, you can try speaking to them through live chat, telephone or email. The best THB brokers offer customer support 24/5, Monday to Friday.
Comparing Brokers With THB Accounts
Here are the key things to consider when comparing brokers with THB trading accounts:
- Fees and commissions: Compare the fees and commissions that each broker charges for trading, including spreads, deposit and withdrawal fees, plus overnight holding rates. What is the spread on the THB/USD for example?
- Trading platforms and apps: Consider the trading platforms and tools that each broker offers, including how intuitive the platform is, plus the range of charts, order types, and risk management features. MetaTrader 4 is one of the most popular platforms.
- Funding options: Check the funding options for each broker. Some may only offer certain deposit options, such as bank transfers or credit/debit cards while others accept popular e-wallets in the region, such as Netbanx Asia. Additionally, check for any deposit and withdrawal minimums.
- Regulation and safety: Check whether the THB broker is regulated by a reputable financial authority and whether they have a good track record in terms of client safety and security. Avoid brokers with a history of not paying out withdrawal requests.
Final Word On THB Trading Accounts
Brokers with THB accounts allow traders to manage their trading profiles in Thai Baht – this includes making deposits, requesting withdrawals, and executing trades. They can help reduce exchange fees, make it easier to manage day trading activity, and are more likely to be regulated by the SEC of Thailand.
Use our list of the top brokers with THB accounts to start trading.
FAQs
What Are Brokers With THB Trading Accounts?
Brokers with THB accounts offer trading accounts with the Thai Baht as the base currency. Popular examples include Superforex and Quotex.
Why Are Brokers With THB Trading Accounts Popular?
Brokers that offer multiple base currency trading accounts, such as THB, make online trading accessible to global traders. THB trading accounts essentially eliminate the need for Thai traders to pay currency conversion fees – they can make deposits directly in THB.
How Do I Open A THB Trading Account?
First, choose from our list of brokers that offer THB trading accounts. Then complete the online registration form. This should provide you with basic access to your trading account. For full access, including making withdrawals, most THB brokers will require you to complete KYC verification.
How Do I Fund My THB Trading Account?
Making any payments with a THB trading account is the same as making deposits with any other type of account. Navigate to the payment portal, select deposit, choose from the list of payment options, enter the transfer amount, and confirm the payment.
The specific funding options available with a THB trading account will depend on the broker you are using. The top THB brokers will accept bank transfers from Kasikorn Bank, Siam Commercial Bank, and Bangkok Bank.