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Christopher Lewis
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.
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.
Solid broker for scalping and hedging
Institutional-style trading opportunities for retail traders
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.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options
Best all-around broker with high floating leverage and fast execution
We have made FXTM one of our top-rated brokers because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.
Pros
Excellent commission-based Forex pricing environment and transparency
Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
Quality market research and educational content for beginner traders
Proprietary copy trading platform, low minimum deposit, and high leverage
Cons
Limited choice of cryptocurrencies and commodities
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
Eightcap was established in Australia in 2009. The forex trader provides a variety of trading choices for traders to purchase and sell using their website's functionality. Customers can trade more than 200 assets on Eightcap, including roughly 50 currencies, cryptocurrencies, stock indexes, commodities, precious metals, oil, and more. Eightcap is available in more than ten languages, including English, German, and French, among others. Their services are provided in a number of countries, including South Africa, the British Virgin Islands, Italy, Australia, Japan, and Ireland.
Best ECN trading environment, with scalping and hedging
BlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.
BlackBull Markets Pros & Cons
Pros
ECN/NDD execution model with deep liquidity
Institution-grade pricing for retail traders via proprietary price aggregation
Highly regulated, choice of fixed or floating spreads
AvaTrade is one of the largest Forex / CFD brokers and well-known for offering their clients a choice of fixed or floating spreads. They have a very high and strong level of regulation. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava offers maximum leverage on Forex currency pairs as high as 400 to 1. AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. 2 bonds and 6 ETFs are also on the menu.
Pros
High-quality educational offering via SharpTrader
Excellent choice of trading platforms catering to various trading needs
Broad asset selection and cross-asset diversification opportunities
Well-regulated and trusted broker with oversight from a central bank
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 I 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.
Forex Trading Regulations in APAC
The APAC region has several trusted and capable regulators. Among them are the Monetary Authority of Singapore, the Hong Kong Monetary Authority, the Financial Markets Authority (New Zealand), the Australian Securities and Investments Commission, and the Financial Services Agency (Japan).
Singapore and Hong Kong are primary global financial centers, Japan remains a core Forex market, which officially kicks off each daily trading session, Australia is a dominant regional player, and New Zealand offers a healthy mix of regulation and competitiveness while emerging as a crucial hub for FinTech companies.
The APAC region has a good mix of respected regulators, and many international brokers obtain licenses from at least one of the above five regulators. Overall, Forex trading in Asia can thrive due to the active regulatory environment, where FinTech fulfills a growing role, and innovative trends that may disrupt the Forex market can often trace their origins to the APAC region.
Is Foreign Exchange Trading Legal in Asia?
Forex trading is legal across Asia. It represents a core growth market for brokers. Asia is home to some well-known and globally respected regulators and leading brokers. The Asian retail Forex market relies heavily on traditional account management, available via MAM/PAMM accounts, and copy and mobile trading, which makes mobile apps popular. It is also home to an active affiliate market for passive income generation and a primary destination for webinars, seminars, and in-person educational sessions.
How to Start Trading Forex in Asia Pacific
Forex trading is a highly skilled profession, and traders must approach and respect it as such, which makes investing in education the critical first step. Beginners should not rush through or skip this process as it will lay the foundation for success.
Another vital step for Forex trading in Asia is broker selection. While certain preferences differ, traders should manage their portfolios with a regulated broker, offering competitive trading fees and a cutting-edge trading platform. Balanced asset selection, low-cost payment processors, and a local presence are additional factors to consider.
Beginners can use demo accounts to familiarize themselves with the trading platform while evaluating trading conditions. A Micro account is an ideal solution to learn Forex trading in live market conditions and usually requires a small minimum deposit of $10 or less.
Risks of Trading Forex in Asia
The lack of education, despite its availability, remains the primary risk of Forex trading in Asia. It can create an environment scammers and fraudsters can exploit, using social media to promote doctored account statements and unrealistic trading performance. Educated Forex traders will understand what Forex trading is and can spot scams and frauds.
Other dominant risks of Forex trading in Asia are:
A poor trading mentality and unrealistic approach to Forex trading.
Insufficienttradingcapital, which can often lead to overtrading and frustration.
Reliance on demo accounts as a simulation tool, which can’t give traders valuable exposure to trading psychology, and can create a false sense of accomplishment.
The absence of adequate risk management typically brings avoidable leveraged trading losses.
Inadequate hardware, no quiet place to trade, or using mobile apps solely for Forex trading rather than monitoring copy trading and account management, can create sub-standard trading conditions sabotaging potential success.
What Is the Best Trading Platform in Asia-Pacific?
While it depends on individual preferences and requirements, the MT4 trading platform remains the most popular option for Forex trading in Asia.
These are the primary reasons MT4 dominates the retail Forex sector:
The most versatile trading infrastructure.
Full support for algorithmic trading.
API trading for advanced algorithmic trading solutions.
Integrated copy trading services from multiple third-party providers.
25,000+ EAs, plugins, and custom indicators.
Widespread availability, easy to swap between brokers.
Active and supportive community of traders, developers, and educators.
User-friendly mobile app.
Noteworthy:
MetaQuotes Software, the developer of MT4, officially stopped support in favor of MT5, but adoption of this platform remains slow amid the lack of backward compatibility to MT4, but most brokers continue to support MT4 actively.
cTrader is the second-most used trading platform, which provides a superior out-of-the-box platform, but trails in upgrades due to a notably smaller user base.
Bottom Line
Forex trading in Asia is one of the fastest-growing Forex markets globally. It is home to a well-regulated trading environment, core global financial centers, and a young, tech-savvy population that embraces innovative Forex trends. Trading with the right broker, experienced and educated Forex traders in Asia can embark on a successful Forex career, but success is unlikely without education and practice.
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.
Who is the best Forex trader in Asia?
No public data exists to answer this, as the best Forex trader is likely unknown due to trades occurring directly between counterparties rather than reported centrally. Anyone who claims to be, is probably marketing a product or service to you.
Is Forex allowed in China?
Yes, Forex trading is legal in China.
Who is the biggest broker in Asia?
The Japanese broker GMO is the biggest retail broker in both Asia and globally..
What is the best trading platform in Asia?
MT4 remains the best trading platform due to its versatility, availability, and full algorithmic and copy trading support. Its customizability allowed it to displace competitors.
Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.
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