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Huzefa Hamid
If you’re looking to trade Forex in Asia, you’re in the right place and in good company. With retail Forex and CFD trading on the rise across the globe, Asia remains one of the most exciting places to trade Forex due to emerging markets. We’ve spent the hundreds of hours of research on Forex brokers in Asia for you, so that you can choose the top Forex brokers in Asia for your trading.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
FP Markets is a highly trusted forex broker that was founded over 15 years ago. Based in Australia, this competitive commission-based trading platform offers users a good variety of assets comprising of over 60 currencies, 10 cryptocurrencies, more than 20 metals and commodities, over 10000 equity CDFs, and more. They are currently licensed and regulated by one of the top financial services regulators in the world namely the Australian Securities and Investments Commission (ASIC) which is a top Tier 1 regulator.They are also overseen by the Cyprus Securities and Exchange Commission (CySEC) which is based in Cyprus and considered a trusted regulator.
Pros
Choice of trading platforms and auxiliary trading tools
Very competitive cost structure and excellent asset selection
Low minimum deposit requirement and leverage of up to 1:500
Axiory is a Belize-based forex broker that was founded a decade ago in 2011. Axiory is a member of the Financial Commission which reinforces their security and provides an enhanced level of oversight which allows users of this broker to feel more secure in trusting this company. They are also certified and regulated by the IFC (the Belize International Financial Services Commission). Under the watch of this regulating body, users can be rest assured that client and company funds are kept completely separate, clients are protected against negative balances and that Axiory gets audited on an annual basis to ensure that they do not participate in fraudulent activity.
OctaFX is a forex broker that was founded in 2011. They have managed to build a client base of over 1.5 million traders over the last decade. Currently their services are available to people from over 100 different countries all over the world. Traders at OctaFX have access to MT4 and MT 5 platforms where they can trade with their choice of 28 currencies, 10 index CDFs, 4 commodities, 5 cryptos and more. The company is regulated and overseen by the Financial Services Authority and the Cyprus Securities and Exchange Commission. Although OctaFX is available to traders in over 180 different countries, they aren’t currently supported in the United States.
Pros
Well-regulated globally, with the Bank of Ireland as the primary regulator
Low minimum deposit and in-depth educational tools
Choosing the right Asian Forex broker is critical. However great at trading you may be, trading with the right broker is important to maintaining your profitability. You might be at the top of your game, but if the broker you’re trading through is not regulated, has high spreads, offers inadequate trading tools, or falls short of any of the other important ingredients that make a great Forex broker, you may be compromising your hard-earned profits..
Let’s take regulation, for example. Many brokers who operate in the Forex hotspots of Southeast Asia have found it difficult to comply with what they consider to be a complex, unclear, costly and unfriendly regulatory environment. In Indonesia, for example, only brokers who are locally licensed can set up a local office. Labuan, which is part of Malaysia, grants licensure to international CFD and Forex brokers, but that still doesn’t allow those brokers to operate in Malaysia proper.
Instead, many of these brokers simply operate without regulation, which can be dangerous for Forex and CFD traders. Still, it's important to consider two things: firstly, many brokers that remain unregulated in Asia do maintain offshore regulation which can protect traders and provide confidence, such as Britain’s FCA, Australia’s ASIC, and others. Secondly, there are some unregulated brokers that may have a solid reputation that would be worth considering under the right circumstances. For example, unregulated brokers can offer higher leverage and bonuses that regulated brokers often can't match. Though these might be enticing, traders should carefully consider whether trading with an unregulated broker is a worthwhile risk.
(We should probably mention that the Philippines has no regulatory framework for Forex brokers as of yet, so use caution if you’re thinking about trading in that neck of the woods. You'll have no choice but to choose a local, unregulated broker, or an internationally-regulated broker.)
Asian Trading Hubs
As mentioned, Singapore remains perhaps Asia’s largest Forex trading hub. Over 30 Forex futures and options contracts are available for trading in Singapore, and the Monetary Authority of Singapore has already licensed around 150 brokers. In fact, the world’s five largest banks have their regional Forex trading and sales teams based out of Singapore, so it’s definitely the place to be.
Japan is also a particularly important base for Forex trading, because the Asian trading session is hosted in Tokyo. The Asian session begins at 12:00 GMT and accounts for 20% of all Forex trading volume. Furthermore, about 16.8% of all Forex transactions involve the Japanese yen, though you certainly don't need to be based in Japan to trade yen-based pairs.
Another major financial center in Asia is Hong Kong, followed by other countries such as Indonesia, Malaysia and Thailand.
FAQs
Is Forex legal in Thailand?
Not only is Forex legal in Thailand, but it has a solid regulatory framework set by the Bank of Thailand and the Thai Securities and Exchange Commission (SEC). Many retail investors invest in foreign securities in Thailand.
What Forex pairs move the most during the Asian trading session?
The pairs that move the most in the Asian session are usually the major JPY pairs, such as the USD/JPY, EUR/JPY and AUD/JPY. You also have the GBP/USD which makes large moves as well, depending on the market.
Can I trade Forex in Singapore?
Singapore is one of the world’s biggest Forex hotspots, and a bustling hub of Forex trading in Asia. You can find all the tools you need to trade Forex in Singapore.
I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.
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