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5 Best Asian Forex Brokers in 2021

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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

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.

Eightcap
5.0/5 in this category
In Summary
Competitive pricing + excellent daily videos

Unique Features

Regulation

ASIC, VFSC

Minimum Deposit

$100

Type of Platform

MetaTrader 4, MetaTrader 5

Eightcap Pros & Cons

Advantages

  • Low minimum deposit and high leverage of up to 1:500

  • Competitive ECN cost structure

  • Excellent technology infrastructure and seasoned management team

  • Daily research and quality educational content

Disadvantages

  • Limited asset selection

FP Markets
5.0/5 in this category
In Summary
ECN trading with leverage up to 1:500

fpmarkets is an Australian brokerage which launched in 2005. Headquartered in Sydney, Australia’s financial capitol, they have carved out a solid niche for themselves as the best Forex / CFD broker enjoying ASIC regulation. Australian regulators are much more relaxed about leverage than their counterparts in the U.S.A., U.K., and the E.U. and so fpmarkets can offer a maximum leverage as high as 500 to 1.

For most traders, the standout unique selling point of this broker lies in the incredibly wide range of tradable assets offered, providing an opportunity to trade over ten thousand individual stocks and shares. These go beyond the typical U.S.A. and U.K. companies and include a good selection of publicly traded shares on the Hong Kong and Sydney exchanges, as you might expect from an Australasian-facing broker like fpmarkets. Also, over 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin are also on the menu here.

Unique Features

Regulation

CySEC, ASIC

Minimum Deposit

$100

Type of Platform

MetaTrader 4, MetaTrader 5, Web-based, IRESS

They offer an unusual hybrid ECN/STP execution model which means that their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.

Traders can scalp and hedge at this broker, whose fast ECN execution speed makes it a natural home for scalpers. Clients may choose between the MetaTrader 4 and MetaTrader 5 platforms, and shares can be traded through the IRESS trading platform which includes access to level 2 exchange data.

FP Markets Pros & Cons

Advantages

  • 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

  • Well-regulated and trustworthy

Disadvantages

  • Availability of Iress geographically restricted

FP Markets is an Australian multi-asset broker with more than $1 billion in daily trading volume, serving clients from 80+ countries. Founded in 2005 in Australia, FP Markets grew into a trusted brand over the past 15+ years with more than 100 employees. The upgraded MT4/MT5 trading platforms, via the Trader Tools consisting of twelve plug-ins, present clients with a competitive edge. We have conducted an in-depth review of this CFD broker to provide traders with a complete overview of the trading environment at FP Markets.

Axiory
4.5/5 in this category
In Summary
Negative balance protection + deep liquidity

Belize-based Axiory offers a competitive trading environment with an upgraded MT4 trading platform via Autochartist and the Axiory Strike Indicator, or cTrader as an alternative. The best pricing environment is available from the Nano account, where traders get a minimum spread of 0.2 pips for a commission of $6 per round lot. It requires a low deposit of $100 for maximum leverage of 1:400. Additional quality services consist of competitive in-house research, the Axiory Trading Academy, and Axiory Intelligence. The transparency and external audits add to the safety and security of this Axiory, which should consider expanding its asset selection.

Unique Features

Regulation

IFSC

Minimum Deposit

$100

Type of Platform

MetaTrader 4, cTrader

Advantages

  • Corporate and Management Possibilities

  • Demo Account

Disadvantages

  • No Accounts Per se

  • No Product Descriptions

OctaFX
4.5/5 in this category
In Summary
Generous bonuses + commission-free trading

Founded in 2011, OctaFX is a “Straight Through Processing” (STP) broker, which means they do not have an internal dealing desk. They simply connect buyers and sellers directly. With this model, OctaFX aims to be more cost-effective than anyone else in the market. They offer low spreads and claim 97.5% of trades are executed without slippage. 

OctaFX offers their clients a choice of three Forex trading platforms: the world’s most popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. All of these can be traded as a desktop application, and on Android and iOS devices. 

Unique Features

Regulation

FSA

Minimum Deposit

$50

Type of Platform

MetaTrader 4, MetaTrader 5, cTrader

OctaFX is an unregulated broker but continues to earn the trust of traders around the globe, with more than 1,500,000 accounts opened. One reason for the ongoing success of this market maker is appealing bonus campaigns. This broker paid out almost $3,000,000 in bonus funds. OctaFX offers traders the MT4, MT5, cTrader, and a proprietary mobile trading platform. OctaFX additionally grants their clients Autochartist, but traders require a Silver Level in the Status Program. Traders have a choice between fixed and floating spreads, and the overall cost structure remains competitive. 

Asset selection remains the distinct weakness at OctaFX, making it most suitable for new retail traders. A series of short educational articles offers a basic Forex introduction, and this broker maintains an excellent arsenal of research and analytics tools. 

OctaFX Pros & Cons

Advantages

  • Well-regulated globally, with the Bank of Ireland as the primary regulator

  • Low minimum deposit and in-depth educational tools

  • Wide asset choice across seven sectors

  • Superior mobile trading platform

  • High maximum leverage

Disadvantages

  • Unregulated

  • Low asset selection

InvestMarkets
4.5/5 in this category
In Summary
Excellent charting analysis + Proprietary webtrader available

Invest Markets has been operating out of Belize since 2020. The brokerage is authorized and regulated by the IFSC and owned by Arvis Capital Limited. The presentation of this broker is professional, and the website interface is clean and straightforward. Invest Markets demands a minimum deposit of $250, above most other brokers, but a necessary requirement for proper Forex trading. 

 

Unique Features

Regulation

IFSC

Minimum Deposit

250$

Type of Platform

MetaTrader 4, Proprietary platform, Web-based

Traders may choose between the core MT4 trading platform and a proprietary webtrader. Educational content is available, catering mostly to new traders. Invest Markets grants clients two competitive third-party research tools, Trading Central and TipRanks, which are the two most significant assets at Invest Markets. The maximum leverage is 1:500, but traders should weigh this against a general lack of transparency and limited asset selection. Invest Markets displays potential, maintains two excellent research tools, but would benefit greatly from a complete operational overhaul. 

Invest Markets Pros & Cons

Advantages

  • Excellent trading tools with Trading Central and TipRanks

  • A clean user interface on its web-based trading platform

  • Competitive cryptocurrency selection

  • Daily one-hour webinars including live trading sessions

Disadvantages

  • Unexplained affiliation with faltering brokers 24Option and other red flags

  • Expensive cost structure and low asset selection outside of cryptocurrencies

Top Asian Forex Brokers

Eightcap Competitive pricing + excellent daily videos.
FP Markets ECN trading with leverage up to 1:500.
Axiory Negative balance protection + deep liquidity.
OctaFX Generous bonuses + commission-free trading.
InvestMarkets Excellent charting analysis + Proprietary webtrader available.

What to Look for in an Asian Forex Broker

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.

Huzefa Hamid

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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