Best Forex Broker in Asia Explained

The Asian economy has been growing since the last decade. Especially, developing countries are making their economy strong. However, the Asian economy may lead the world if the growth continues. Besides, the growth also attracts foreign investors too as Asian countries offer easy access to the market. As a result, forex brokers are also looking for a new home in Asian countries, and some of the brokers have already established themselves as the best forex broker Asia.

 

Being said that, scammers are not lag behind with the Asian economic growth. Scammers are also finding their new home in different Asian countries, and it is alarming. Forex is a relatively new trend in the Asian economy. So, most of the traders are still leading and gaining experience. And, scam brokers are taking this advantage. It has been seen that some traders got scammed as they did not choose the best Asian broker. 

Besides, there are no central regulations for the Asian countries, which is why traders get confused with the country-specific regulations. The overall idea for regulations is the same, which eventually works with protecting the trader’s rights.

Throughout the article, you will get detail on choosing the best Asian broker.

Best Forex Broker in Asia Explained

Best Forex Brokers in Asia

19 ratings
Review
No Bonus
  • 200+ tradable assets
  • Choose between 4 trading platforms
  • Competitive spread pricing on raw account
18 ratings
Review
100% Bonus
  • Mobile Trading: Available
  • ECN: Available
  • Currencies: 45+
15 ratings
Review
No Bonus
  • Axi Mobile Trading: Available
  • Currencies: 80+
  • Web Trading: Available
18 ratings
Review
No Bonus
  • 10,000+ tradable assets
  • Choose between 4 trading platforms
  • Mobile Trading Available

Forex Regulatory Framework in Asia

Like Europe or the EU, Asia does not have any central regulations for the region. But the individual countries that allow Forex trading have their own regulations to impose regulations. So, understanding the country-specific regulations is important to obey the financial laws.

As there are no central regulatory bodies, some brokers seemingly operate under privacy regulations. However, due to security issues, no privately owned regulatory bodies are allowed. Only government regulations are permitted to regulate the brokers.

So, if you find any broker that claims to be regulated by any private organization, that could be a scammer. It would be best if you stay away from the self-proclaimed best forex broker. However, you can keep yourself safe from scammers by checking the broker with the proper regulatory body. To do that, you can check the broker’s authenticity via regulatory authority by calling them or via the website. This is the way the best forex broker Asia can be found.

Forex Trading Friendly Asian Countries

Numerous Asian countries are doing great in the forex industry, while few countries banned forex trading. However, a ban did not stop the traders from trading. Some brokers from the banned countries are still trading via other countries. Though it may not be legal, they are doing it.

On the other hand, not all Asian countries are providing benefits to the traders and brokers. That being said, we have found out the Asian countries that are best for brokers and traders. We made a list of them after considering economic factors, jurisdiction, and forex broker reviews.

Let’s take a look at the Asian countries that provide maximum benefits to the brokers and traders.

  • Thailand
  • Singapore
  • India
  • Malaysia
  • Sri Lanka
  • Philippines
  • Pakistan

However, these counties are best on the list does not mean that the brokers from these countries will be best too! So, you will have to keep researching the best Asian forex broker.

Choose the Best Forex Broker Asia

Since new brokers are emerging in the Asian forex market, finding the best brokers in Asia can be hard if you don’t know how to find them.

You can make a checklist of some must-have features a broker should contain. Then check them out based on the listed features. Besides, you may look at the top Asia FX brokers reviews on different online forums and social media platforms to sort out the top 10 forex brokers.

You can make the checklist based on the following features.

Trading Cost

The trading cost varies on different factors. However, the best forex broker in the world does not impose any burden of costs to its traders. It can be said that the brokers offer reasonable trading costs so that they can hold the brokers for the long term.

While selecting a broker, you must compare the commission and spreads. Usually, experts recommend low commission and low spread brokers. Besides, brokers with low swap rates and low minimum deposits should come in handy. Few other factors that are related to cost you should consider are the forex leverage, deposits, and withdrawal changes.

Broker’s Transparency

No broker should keep their policies and activities hidden. That means checking the broker’s transparency is important. If any broker has hidden charges or policies that are not explained, you should avoid them. And by any chance, if you already signed up for such a kind of broker, you should stop trading with that because the broker will not be feasible eventually.

Trading Features you Should Look at

Following trading, features are highly essential when you sign up for the broker.

Type of Account

The rule of thumb is, all retail brokers should offer multiple account types according to the trader’s experience and investments. However, retail brokers basically offer two account types. One is for the newbies and one for the experienced traders. These two types of accounts can be categorized further.

On the other hand, brokers may also offer ECN accounts for more advanced traders. So, you should understand the account types broker registering with the best forex broker Asia.

Platforms

Forex trading platforms are the heart of trading activities. Usually, most of the retail brokers run on MT4 and MT5 platforms, which are the most demanding ones too. So, you can choose MT4 forex brokers and MT5 forex brokers initially to step into the forex trading world. Besides, the platforms should offer social trading features too.

Trading Server

Trading servers play an important role in conducting a timely mannered trading activity. A slow server can get you slippages, which may bump your profit. As a result, you will not get a well-deserved profit. SO, when you choose the forex brokers Asia, you must look into the server’s speed. Choosing a broker with uninterrupted service is recommended.

Bonus

Bonuses are usually offered to attract new traders. However, it depends on the regulatory body as most of the regulatory bodies don’t allow bonuses. Sometimes scam brokers may offer bonuses to grab newbies. Nevertheless, if you find a broker that offers a bonus, you should cross-check with the proper regulatory authority if the broker is entitled to offer any bonus.

Customer Support

Customer support is necessary when you face any technical issues or face any problem during trading.

A speedy customer can resolve any concurring problem right away. So, confirm the broker’s communication method and how good they are.

Education Platform

Although, the education platform is not mandatory. But you may check if the broker offers any. Usually, the best forex broker Asia provides a self-learning platform for the traders where they can access the video, eBooks, news, articles, etc., for a better understanding.

Conclusion

Forex trading in the Asian region can get you lots of opportunities if you can find the best forex broker Asia. However, it may seem difficult for you to find a good forex broker initially. But, if you closely follow the guideline we have provided throughout this article, you will certainly find the best Asian broker easily.

On the other hand, the forex market is highly uncertain, so you will have to step into it carefully after understanding everything properly.