Brokers With VND Accounts
VND trading accounts operate in the Vietnamese Dong. This means all deposits, trades and fees are processed and displayed in VND, making it easier for traders from Vietnam to manage their investing accounts.
Below is a list of the top-rated brokers with VND accounts in 2024. This guide also explains how to choose between VND brokers and check whether a trading platform accepts the Vietnamese Dong.
Brokers With VND Accounts
These are the 5 best brokers that offer accounts with VND as the base currency:
Brokers With VND 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
- Experienced strategy providers can open social trading accounts, with monthly commissions up to 50%
- Highly competitive spreads are available from 0.1 pips and low commissions from $3.50 per side
- Exness is the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes
Cons
- 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
- Unlike most competitors, Exness doesn't provide its own education section
#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
- The $10 starting deposit and $1 minimum stake make Quotex.io accessible to beginners
- Daily signals are useful for finding opportunities, especially for newer traders
- Account funding is straightforward thanks to the wide range of payment methods, zero fees and intuitive cashier portal
Cons
- Customer support has been weak during tests with no live chat and slow response times
- 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
#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 decent range of educational resources including video tutorials, guides and seminars
- SuperForex offers an auto-reset balance program, which prevents trading accounts from dropping below zero
- SuperForex is accessible for beginners, with minimum deposits from $1, a choice of fixed or variable spreads, and access to copy trading
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
- Welcome bonus for new traders
- 170+ trading instruments
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
- Excellent line-up of charting platforms including MT4, MT5, cTrader and TradingView
- Good range of additional tools and features including educational content, Myfxbook and Autochartist
- Bespoke copy trading platform
Cons
- Does not accept US customers
- $55 subscription fee on IRESS accounts
- Withdrawal fees for some payment types
How VND Accounts Work
An account’s base currency is the currency with which you can make deposits, withdrawals, and trades. All trading accounts have one or multiple base currencies, the most popular being USD, EUR, or GBP. A VND trading account is a profile where the Vietnamese Dong is the base currency.
VND trading accounts allow Vietnamese investors to avoid otherwise costly conversion fees, making online trading more accessible. Brokers with VND accounts also tend to accept local bank transfers through NAPAS (National Payment Corporation of Vietnam). The result is fast and low-cost account funding.
Traders can usually select their account base currency at the registration stage. Clients will be asked to input their country of residency, for example Vietnam, and select the account currency, for instance VND.
VND Currency Explained
The Vietnamese Dong was introduced in Northern Vietnam to replace the French Indochinese Piastre in 1946 and became used throughout the whole of Vietnam by 1978 following the unification of the country.
The currency was revaluated in 1985, where 1 new VND was equivalent to 10 old VND which caused inflation lasting almost a decade. More recently, the Vietnamese Dong has been known as one of the least valued currencies, holding the title until March 2007 when the Zimbabwean financial crisis led to the Zimbabwean Dollar being the least valued.
The Vietnamese Dong is not directly pegged to any other currency, but it is influenced by a variety of economic factors, including supply and demand in the foreign exchange market and the monetary policy of the State Bank of Vietnam.
The Vietnamese Dong is not a particularly widely traded currency. It is an exotic currency and is not as liquid as other currencies. As a result, not all forex brokers offer trading in the VND.
Benefits Of Brokers With VND Accounts
Trading with VND accounts offers several advantages:
- Convenience: VND accounts allow Vietnamese traders to make deposits and withdrawals and manage their trading accounts in their local currency without paying conversion fees.
- Speed: Deposits and withdrawals being made through a local bank transfer usually take less time than international bank wires. Account holders can also often use other popular local and regional deposit methods, such as Netbanx Asia.
- Regulation: Brokers with VND accounts are more likely to be regulated by a local financial regulator such as the State Bank of Vietnam (SBV) or the Ministry of Finance (MOF). Alternatively, they may hold a license with well-known financial authorities in the region, such as the MAS (Monetary Authority of Singapore).
How To Check A Broker Offers VND Accounts
To determine if a broker offers Vietnamese Dong (VND) trading accounts:
- Head to our list of the top brokers with VND accounts.
- Check the deposit and withdrawal section of a broker’s website. Often, accepted currencies are listed by payment method in this area. Also look for information about local payment solutions, such as transfers from Vietcombank and VietinBank. If the broker accepts local deposit options, it may be a sign that they also offer VND trading accounts.
- Check the new account registration section. Brokers often list their base account currencies in a drop-down list.
- If you are unable to find the information on the broker’s website, try contacting their customer service team. Live chat is often the quickest way to get a response.
Comparing Brokers With VND Accounts
Prospective traders should consider several key areas when comparing VND trading accounts:
- Low fees and commissions: The best brokers offer competitive spreads and commissions. This includes sub 1-pip spreads on major forex pairs. Note, exotic currencies like the VND often have wider spreads. Also check for overnight holding fees if trading CFDs.
- Platforms and tools: The best VND brokers offer intuitive platforms with technical and fundamental analysis tools, trading signals, and customizable charts. Also check for additional services like copy trading, which is a good way for beginners to learn about online trading from profitable traders.
- Account types: Leading brokers with VND accounts will offer different profiles to suit different trading styles and requirements. This might include cent or mini accounts for beginners and VIP profiles for active traders, who benefit from reduced fees in return for regular, large deposits.
- Deposit and withdrawal options: Look for local wire transfer options and e-wallet support with low to zero fees. Also check for any minimum and maximum transfer limits when making a payment in Vietnamese Dong. The best brokers also now accept Bitcoin payments.
- Regulation and security: Signing up with a regulated broker is always advisable. Licensed brokerages usually provide various safety measures, including negative balance protection and segregated client funds. Most brokers aren’t regulated by the State Bank of Vietnam (SBV), however some VND trading firms do hold a license with the Monetary Authority of Singapore (MAS).
Final Word On VND Trading Accounts
Brokers with VND accounts allow traders to trade and hold funds in Vietnamese Dong. This can reduce barriers to entry for budding traders from Vietnam, removing currency conversion fees and protecting profit margins. VND trading accounts are also more likely to come with localized customer support.
To get started, head to our list of the best brokers with VND accounts in 2024.
FAQs
How Do VND Trading Accounts Work?
A VND account is a trading profile that offers Vietnamese Dong as the base currency. This means traders can manage their accounts in VND, including making deposits and withdrawals.
SuperForex and Quotex are among the top brokers with VND trading accounts.
What Are The Benefits Of Brokers With VND Trading Accounts?
VND trading accounts offer several benefits, including lower fees due to no currency conversions, more convenient payment solutions for Vietnamese traders, plus local or regional regulatory oversight.
How Do I Fund My VND Trading Account?
To fund your VND trading account, head to the broker’s cashier portal. Choose from the list of supported deposit options and follow the on-screen instructions. You will need to enter the deposit amount and may need to verify the payment through a one-time passcode or alternative security measure.
Can I Withdraw My Trading Profits In VND?
Brokers with VND accounts allow traders to withdraw profits in Vietnamese Dong. Simply select Vietnamese Dong as the base currency when you register for an account and request a withdrawal using one of the broker’s supported payment methods.
Are VND Trading Accounts Suitable For Everyone?
VND trading accounts are best suited to Vietnamese clients or active forex traders. Other investors may find it easier to manage their trading activity in another currency, such as the USD or EUR.