Best Forex Broker in Taiwan
- Pepperstone – Overall the Best in 2024, Rating: 9.8/10
- XM – Best For Beginners, Rating: 9.5/10
- XTB – Low Trading Fees, Rating: 9.5/10
- Skilling – Low Minimum Deposit, Rating: 9.0/10
- OANDA – Best Trading Apps, Rating: 8.5/10
Pepperstone
Pepperstone is a non dealing desk forex broker. They gladly accept Taiwanese forex traders. Founded in 2010, it boasts a wide range of account types, making it more versatile than other competitive names on our list.
Pepperstone is compatible with three top platforms – Metatrader 4, Metatrader 5, and cTrader. Its versatility is backed up by top-notch security and regulation by big names like the FCA and ASIC. Its fees are very affordable, and its minimum deposit is low, making it accessible for day traders in Taiwan.
Another major benefit of Pepperstone is that its trading platforms come with a free demo account. This allows traders to test the platform and make risk-free investments while they learn its features and functions and helps to build confidence in trading decisions. The free trial is available for up to 30 days. Pepperstone also has great customer support that is available 24/5.
Overall, Pepperstone has secured its reputation as one of the top Taiwan Forex brokers and is a great choice for investors.
Pros
- Well-regarded broker
- Excellent regulation
- Strong security
- High-quality customer support
- Free demo accounts
- Affordable fees
- Low minimum deposit
Cons
- No weekend support
XM
XM is a global broker with a huge range of currency pairs to choose from, including some intriguing minor and exotic pairs. This makes it a great choice for all beginners as it allows more diversity than most of the competition.
It’s compatible with Metatrader 4 and Metatrader 5 and boasts its own XM WebTrader. The company was established in 2009 and has gradually built a great reputation within the community, with excellent security features and educational resources available to traders. You can also expect customer support in many languages.
XM even offers very high leverage on some pairs but also allows for much lower rates. Although, novice traders should always tread with caution when leveraging.
Pros
- Well-regarded broker
- Huge range of currency pairs
- Works with leading platforms
- Excellent security
- Strong educational resources
- Multilingual customer support
Cons
- Novice traders should be careful with leveraging
XTB
XTB was founded in 2002. Traders can choose between xStation 5 and MT4 when they work with this broker and have access to a wide variety of currency pairs.
The platform has excellent security measures and, like Pepperstone, is regulated by the FCA.
XTB is listed on the Warsaw Stock Exchange and specializes in providing resources for traders that are generated by technology. It also offers high-quality multilingual customer support that is available 24/5.
It has a low minimum deposit and is a great platform for scalping and hedging. You can also access a demo account to help you understand how the platform works.
It also offers a range of crypto CFDs each week.
Pros
- The demo account is great for beginners
- Superb security
- Low minimum deposit
- Trusted, established provider
- Very well-regulated
- Multilingual customer support
Cons
- CFDs are risky
- Support only available on weekdays
Skilling
Skilling broker has established itself as a leading broker worldwide in recent years and is among the forex brokrages. Its reputation for security, great options, and excellent customer care places it high on our list.
The platform offers competitive rates with well over 1,000 trading instruments. It’s primarily known as a social trading platform but also offers an individual service. Skilling gives users access to 47 currency pairs, making it a great place to trade Forex in Taiwan with a wide range of access to other markets.
Its security is top-notch, which is part of why Skilling’s great reputation has grown in recent years in Crypto markets as well as Forex. It’s known as one of the safest places to trade Crypto and fiat currencies alike and is also known for its great customer support – a must for day traders.
Skilling broker is also very well-regulated. It counts the UK’s FCA (Financial Conduct Authority) among its regulating bodies, which is a great sign for investors as this body holds participating platforms to extremely stringent standards. Additional bodies include CySEC (Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission).
This is why it’s among the most trusted Forex brokers.
Minimum deposit rates depend on where you’re based around the globe, but are typically affordable. This platform is a favorite of day traders due to its excellent rates—all in all, an excellent choice.
Pros
- Very well-regulated
- Trusted provider
- It also offers competitive access to Crypto markets
- Great security
- Affordable deposit rates and fees
- Many currency pairs on offer
- Excellent customer support
Cons
- Only one account type
Plus500
Plus500 was founded in 2008. It is listed on the London Stock Exchange and offers a competitive service that includes an accessible mobile platform, easy deposits and withdrawals, and top-class customer service.
It is regulated by the FCA and ASIC and is considered one of the most reputable Taiwan brokers. Its security is very strong, and it’s a favorite of experienced traders.
Note that Plus500 deals mostly with CFDs, which are complicated and not appropriate for novice traders. You should also note that this platform doesn’t allow scalping.
Pros
- Very well-regulated
- Great mobile trading app
- Excellent customer care
- Strong security
Cons
- Mostly for CFDs
- Doesn’t allow scalping
Frequently Asked Questions FAQ:
Is Forex legal in Taiwan?
Yes – Forex trading in Taiwan is legal. The Financial Supervisory Commission (FSC) is the main body overseeing forex trading in Taiwan. It sets strict rules to ensure stability and transparency in the market. Domestic brokers must adhere to these regulations, which include restrictions on specific derivative instruments and leverage levels.
What are the top-rated forex brokers for beginners in Taiwan?
For beginners in Taiwan, some of the highly recommended brokers include Pepperstone and XM. Both brokers are known for their user-friendly platforms, educational resources, and strong customer support.
Can foreigners legally engage in forex trading with brokers in Taiwan?
Yes, foreigners can legally engage in forex trading with brokers in Taiwan. They need to follow the same regulations and guidelines set by the Financial Supervisory Commission (FSC).
How can one verify the legitimacy of a forex broker in Taiwan?
To verify the legitimacy of a forex broker, one should check if the broker is licensed by the Financial Supervisory Commission (FSC) in Taiwan. Verified brokers will have their licensing details available on the FSC’s official website.
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