This is our guide to the best forex brokers in Taiwan. Forex trading in Taiwan often comes with a question mark for traders – is it legal to trade fx in Taiwan, and where can you find brokers that permit you to invest in New Taiwan Dollar (NT$)?
Good news: while all activity surrounding the NT$ is closely regulated, it’s perfectly legal to trade Forex in Taiwan. And there are some fantastic brokers out there who gladly accept Taiwanese forex traders.
10 Best Forex Brokers in Taiwan
- Pepperstone
- XM
- Skilling
- OANDA
- XTB
- HotForex
- AvaTrade
- IQ Broker
- Forex.com
- IC Markets
Pepperstone
Pepperstone is Melbourne based non dealing desk forex broker. 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
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 in Taiwan.
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
XTB
XTB is a well-established broker that was founded in 2002. Users 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. This is always an encouraging sign for traders looking for Taiwan Forex brokers, as the subject of regulation can be tricky to understand in this market.
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. We should note that CFDs are extremely complex financial instruments and only highly experienced traders should work with CFDs. Lack of understanding can be extremely costly, and while these represent an attractive investment opportunity, you should always proceed with extreme caution.
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
XM Group
XM Group is a global broker with users in 196 countries. Its offering backs up its global image, with a huge range of currency pairs to choose from, including some intriguing minor and exotic pairs. This makes it a great choice among Taiwan Forex brokers as it allows more diversity than some brokers.
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
Plus500
Plus500 is a well-known broker 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. If you’re looking for Taiwan Forex brokers that are great for day trading, you should also note that this platform doesn’t allow scalping.
Pros
- Established broker
- Very well-regulated
- Great mobile app
- Excellent customer care
- Strong security
Cons
- Mostly for CFDs
- Doesn’t allow scalping
FAQ:
Is Forex legal in Taiwan?
Yes – Forex trading in Taiwan is legal. The currency is considered restricted, but high-quality legal brokers are available.
How to choose a Forex broker in Taiwan?
Your strategy and experience level should dictate your choice. Day traders may prefer some platforms, while experienced traders may opt for brokers with higher costs and riskier investments.
Is Forex trading safe in Taiwan?
Forex trading is as safe in Taiwan as anywhere. You should always be cautious with your money and never make an investment unless you understand the risks.
Can I make money trading Forex in Taiwan?
Yes – but remember that you can also lose money trading Forex in Taiwan. Your prudence, caution, and research determine your success, just as anywhere in the world.
Verdict
Understanding what you want as a Forex trader and comparing your goals with a platform’s offering is an essential step in choosing a broker. Research a platform’s offering before deciding, so you make your choice armed with the right information, caution, and confidence. Try a free demo account if it’s possible.
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