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Forex Trading In Thailand

Published by Usman Ahmed, MBA (Researcher)

Reviewed by Bowen Khong, ACCA

The exchange of foreign currencies in a decentralized forex market is called forex trading. It is a very popular form of investment in Thailand because forex earnings are totally tax-free. As an average estimate, the forex market undergoes a daily trading volume of more than 6 Trillion U.S. Dollars. Forex trading in Thailand has witnessed enormous growth over the past few years. Due to strict regulatory rules, it is very safe to trade forex in Thailand. 

How Does It Work?

Forex traders make money by buying or selling different currency pairs. Owing to different geopolitical factors, the value of currencies tend to change over time. If a currency pair is likely to appreciate in the coming days, then traders can make profits by buying it at a spot rate. Conversely, if a currency pair appears to be losing its worth in near future, then selling it around the current market price and then buying it back at a lower price can yield profits. 

Let’s try to understand the concept of forex trading with an example;

Suppose you wish to buy U.S. Dollars with 1,000 THB. If the current market rate for 1 U.S. Dollar is 29, then you can purchase nearly 35 U.S. Dollars. After you have purchased the U.S. Dollars, they may be two scenarios;

Scenario 1: If the price of the U.S. Dollar increases in the coming days, then a buy trade might be profitable. For instance, if the U.S. Dollar appreciates to 35, then it will bring you a profit of 6 THB on each unit purchased. 

Scenario 2: If you anticipate a decrease in the price of the U.S. Dollar, then a sell trade might help you generate profit. In such a scenario, selling USD at current market price and then buying them back at a lower price results in profit. 

Forex traders use technical and fundamental analysis to identify the future price direction of currencies. Some common technical analysis methods include trendlines, fibo numbers, horizontal support and resistance and volume spread analysis.

Pros & Cons of Forex Trading 

Forex trading can help you make money fast as compared to other businesses. However, due to extreme volatility, forex trading can sometimes become risky as well. Given below are some main pros and cons of forex trading that need to be considered before investing money. 


  • Leverage – Leverage is one of the most crucial elements in forex trading. It enables traders to open large positions with limited capital. Traders are generally allowed to use leverage upto 1:30 with regulated brokers. However, some brokers may allow even higher leverage. 
  • Less Price Manipulation– Unlike bonds or equity markets where insider information can lead to price anomalies, the chances of price manipulation are rare in the forex market. 
  • Economical  – The cost associated with forex trading is very economical. In addition to paying nominal commission/spread charges, traders can earn/pay overnight swaps. There are no other charges involved such as overhead expenses, infrastructure expenses etc. 
  • Tax Benefit– In some countries, including Thailand, forex traders receive tax benefits on their forex earnings. A zero tax regime is applicable on forex earnings in Thailand.
  • Accessibility – The forex market is easily accessible as it remains open round the clock, five days a week. Anyone with or without past trading experience can join the forex market right away.   
  • Liquidity – The forex market is highly liquid due to extremely high levels of trading volume. Traders can liquidate their positions in a blink of eyes without any noticeable price deviation.


  • Small Traders May Suffer – Bigger institutions such as banks, governments, hedge funds enjoy more access to technological and informational resources, thus they may take a lead in trading major fundamental events such as nonfarm payrolls, monetary policies etc. 
  • Regulatory Constraints – The forex market is an over-the-counter market with no central regulation in place. It sometimes makes the circumstances unfavorable for traders. Specifically, when an overseas broker mistreats you and you can’t even file a case in court. 
  • High Volatility – The forex market is highly volatile. Sudden price movements may sometimes result in price gaps and slippage. Some unprecedented events may also cause crash like circumstances. 

How To Start Trading Forex in Thailand

Thailand has a strict regulatory framework in place for brokers dealing in forex. The Securities and Exchange Commission of Thailand (SECT) and the Bank of Thailand (BoT) supervise the routine affairs of forex brokers. Therefore, traders based in Thailand should sign up with regulated local brokers to start their forex trading journey. 

Traders in Thailand can start trading forex if they have a PC or mobile with an active internet connection as well as a trading account with any broker.

To comply with the rules of law enforcement agencies and AML directives, all brokers in Thailand ask their clients to verify their identity. The process of identity verification is Known as KYC (Know Your Customer). It is an obligatory requirement that brokers need to fulfill. 

Traders can submit their national ID card or a passport to verify their identity. A driving license is also acceptable as proof of identity. The brokers may sometimes ask for additional documentation, including utility bills or bank statements, etc. The additional documents are used for address verification. 

After the verification of identity and address, traders can fund their trading accounts using any suitable payment method. Brokers in Thailand offer traditional payment methods such as bank transfers, debit/credit cards, e-wallets and cryptocurrencies. After funding trading accounts, traders can kick off their trading journey by logging into the broker’s trading platform. 

Forex Trading Communities, Forums, and Discussion Groups in Thailand

There are many online forex communities available for traders based in Thailand. Interaction with other professional traders helps traders identify their mistakes and learn new dimensions of forex trading. 

 #1 Trade Rider

Trade Rider is one of the most famous forex forums in Thailand. Traders from all around Thailand participate and share their forex knowledge. The forum has multiple discussion threads on nearly all aspects of forex trading. With frequent posts every hour, the forum seems to have an active learning community of forex traders from Thailand.  

#2 Forex Trading Thailand

Forex Trading Thailand is a forex community of forex traders on Facebook. The page connects forex traders from all over Thailand. The access to the group is set to private. However, you can request to join the group anytime. Forex related discussion and informational posts are the main features of this group. 

#3 Elite Trader Thailand

Traders from Thailand can also join Elite Trader Thailand. It’s an online forex forum with a great variety of informational resources. The group has more than 100K registered members with over 250K discussion threads. 

Forex Influencers to Follow in Thailand 

# 1 Rojer CmFx

Rojer CM is a professional forex trader residing in Thailand. He has been trading the forex market for nearly ten years. Besides sharing forex tips and techniques, he also makes video tutorials on how to set up trading accounts with various brokers. He has 11.4K followers on his youtube channel. 

#2 Phitsanukhom Chaiyavet

With 13.5K subscribers on the youtube channel, Phitsanukhom Chaiyavet is one of the most influential forex traders based in Thailand. Besides teaching forex, he also makes clients learn how to maintain self-discipline to become a successful forex trader.

Frequently Asked Questions (FAQs) 

Is forex trading legal in Thailand? 

Yes, forex trading is legal in Thailand. It comes under the regulatory scope of the Securities and Exchange Commission of Thailand (SECT) and the Bank of Thailand (BoT). Traders in Thailand can trade with both local as well as overseas forex brokers.

What is the best time to trade forex in Thailand?  

The best time to trade forex in any country is when the two forex trading sessions overlap. It is also applicable to Thailand. Given below is the converted time slot for different overlapping sessions as per the Thailand Standard Time. 

  1. US/London Overlap: 03:00 AM to 07:00 AM
  2. Sydney/Tokyo Overlap: 09:00 PM to 11:00 PM
  3. London/Tokyo Overlap: 10:00 PM to 11:00 PM

Is Forex Trading taxable in Thailand? 

No, forex trading in Thailand is a tax-free investment activity. According to the new tax regime in Thailand, earnings from forex are not subject to any taxes. 

Can you make money trading Forex in Thailand? 

Yes, you can make reasonable returns from forex trading in Thailand. In order to be successful in Forex, traders must overcome their emotions and stick with a predefined trading plan.

Usman Ahmed, MBA (Researcher)
Usman Ahmed, MBA (Researcher)
Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience. Besides holding a Masters degree in Business Administration, he has worked for some of the most renewed companies in the forex industry including FXCM, IQOption, MetaQuotes, Alpari, FXStreet, DailyFX and several others. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style. He believes in naked chart trading analysis that is commonly known as price action trading. He follows global financial news and macro-economic events very closely.
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