Based on our extensive in-depth forex broker research we have put together the list of the best forex brokers in Asia. The Forex industry is on the rise across the Asian continent. In fact, forex traders in Asia are some of the most active in the industry.
6 Best Forex Brokers in Asia
- IC Markets
Below, you’ll find the detailed review of the top 3 options for Forex brokers. Consider each to determine which would be best for you based on your preferences and needs.
Pepperstone is just a hop skip and a jump from the Asian forex market, and is an excellent choice as a forex broker for Asian traders. Pepperstone broker is regulated by several authorities, giving traders from Asia peace of mind that their accounts are being well cared for.
Pepperstone is regulated by the following authorities:
Considering it’s regulated by the DFSA of Dubai, Asian traders in the Middle East can feel better knowing that a local authority is watching out for their best interests. Additionally, it does offer Islamic accounts, ensuring Muslim traders can effectively take advantage of the market while still abiding by religious laws.
Pepperstone is particularly Asian trader-friendly because it’s available in so many languages. Some of the supported languages include:
- Chinese (Simplified and Traditional)
The trading platform is highly customizable and offers excellent customer service with seamless deposits and withdrawals. Take advantage of 62 currency pairs and daily market analysis to guide your trading.
XM is a forex broker that’s available globally with regulation by three authorities:
While it’s not regulated by an Asian authority, the above regulatory bodies do cooperate with the FSA of Japan and Dubai’s DFSA. Like Pepperstone, it also offers an Islamic account option, meaning Muslim traders don’t pay interest rates.
It also offers support in multiple languages for the Asia region, including:
A major benefit of XM for Asian traders is the option to open an account with the Japanese yen (JPY), and they have over 50 currency pairs for trading. There are also free wire withdrawals when the minimum amount is met, allowing you to cut out extra fees. It also offers a quality news flow so you can stay up-to-date on what’s happening in the foreign exchange market.
Skilling is one of the fastest growing CFD brokers available to Asian traders but is quickly establishing itself as a top contender. It’s available in most Asian countries. It’s regulated by CySEC in European Union and the Seychelles Financial Services Authority.
The website is available in English, Malaysian, Filipino, Chinese and Arabic. However, Skilling is still a young company and growing, and it has a lot to offer traders.
Skilling offers four account types: Standard, Premium, MT4 (MetaTrader 4), and MT4 Premium. The first two accounts offer 73 currency pairs while MT4 accounts only offer 53. Premium accounts offer 0.1 spreads. MT4 accounts are designed for retail traders.
Some additional features from Skilling include:
- Filtered Market Exploring: Easily discover trends and news with a range of filters.
- Trade Assistant: This is perfect for newbies to have the most frequently asked questions quickly answered.
- User-Friendly Platform: With Skilling Academy and an easy-to-follow interface, you can quickly master trading.
The Bottom Line
Your best bet for a reliable broker is to find one that is internationally recognized and well-regulated. All three of the above-mentioned brokers are dependable and regulated. However, you should also shop around for the best rates to ensure you get the best deal with both trustworthiness and excellent rates on your side, you can get the best of your Forex trading in Asia.
If you’re looking for a Forex broker for your Asian trading, check out these options and even open a demo account so you can ensure you end up with the perfect platform for trading.
FAQ (People Also Ask)
1. What is the best suited forex broker for beginners in Asia?
For the best forex broker for beginners in Asia, look no further than Pepperstone. With zero minimum deposit requirement and the plenty of local base currency, it’s easy to get started. And with TradingView, MetaTrader 4 and 5 available, you get top forex trading platforms for your trading needs. It also has extremely flexible leverage of up to 1:400. All of this combined with its excellent reputation makes it an excellent choice.
2. Who regulates Forex in Asia ?
While most Asian countries do allow for Forex trading and the regulations tend to be more flexible, this doesn’t mean the market is a free-for-all. There are several regulatory bodies in the region that ensure brokers are held to account. They set the guidelines that Asian fx brokers should follow.
These forex regulatory bodies include:
- Securities Commission of Malaysia (SCM)
- The Financial Services Agency of Japan
- The Securities and Exchange Board of India (SEBI)
- Monetary Authority of Singapore (MAS)
- The Dubai Financial Services Authority (DFSA)
It’s the job of these bodies to ensure there’s a legal framework for Asian Forex brokers to follow in segregating clients’ funds and following best practices. These bodies perform regular audits to ensure their licensed brokers are safe for traders. They also enforce rules against anti-money laundering laws, General Data Protection Regulation compliance, and margin requirements for the appropriate regions.
While Asian regulatory bodies may be relatively liberal, some may be looking for even more flexible regulators in the international market. For example, they may only allow trading with the authority’s national currency. Some more liberal markets include Dubai’s DFSA, Europe’s CySEC, and South Africa’s SFCA.
3. How Do I Find out if a Forex Broker is Licensed in Asia?
For well-regulated fx brokers, discovering the regulatory body they are licensed with is typically very easy. That’s because they’re eager to share that they’re a broker you can depend on. When you’re on the homepage of a company, scroll down to the bottom. The regulatory information is typically there or on the “About Us” page. If you can’t find this information, you may contact a representative to get this information.
Once you have a regulatory authority’s name, confirm the license by looking for the name of the Forex broker in the authority’s database. This will ensure the brokerage was truthful. If they’ve lied about their licensing, you can be assured that’s not all they’re lying about.