Is there any UK/US based Forex Broker that offers currency in Thai Baht?

[travelman]

Is there any UK/US based Forex broker that has branch/office in Thailand and offers to trade in Thai Baht as well. 

 

 

 

 

[edwardandtubs]

Certainly none of the well known ones and in any case why would you want to? If you have an account with a UK broker in the UK you have FCA protection but what protection would you have if your account was with a Thai office? Seems like a total false economy.

Edited April 2, 2017 by edwardandtubs

[travelman]

13 minutes ago, edwardandtubs said:

Certainly none of the well known ones and in any case why would you want to? If you have an account with a UK broker in the UK you have FCA protection but what protection would you have if your account was with a Thai office? Seems like a total false economy.

I am aware of the Customer protection policy of FCA UK. Thanks

 

However a friend who does not want his funds to be converted in USD/GBP or any other allied major currency is a major reason I am looking for such a broker. 2ndly it seems logical as Thai Banks are tuned to charge excessive conversion fees especially for International Payments inwards/outwards whatever the case might be Credit/Debit Card or Telegraphic Transfer.

 

  

Edited April 2, 2017 by travelman

[edwardandtubs]

Well, you have to look at total costs. The money charged by Thai banks to convert THB to USD is extremely reasonable, and in any case you have to look at the total costs. What's the point in saving a bit of money on conversion fees if you then get screwed with high commissions, wide spreads and slippage? This all assumes you want to use your account for regular trading.

[travelman]

1 minute ago, edwardandtubs said:

Well, you have to look at total costs. The money charged by Thai banks to convert THB to USD is extremely reasonable, and in any case you have to look at the total costs. What's the point in saving a bit of money on conversion fees if you then get screwed with high commissions, wide spreads and slippage? This all assumes you want to use your account for regular trading.

Logical Answer. Thanks. 

 

 

[robin33]

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[4evermaat]

21 minutes ago, edwardandtubs said:

Well, you have to look at total costs. The money charged by Thai banks to convert THB to USD is extremely reasonable, and in any case you have to look at the total costs. What's the point in saving a bit of money on conversion fees if you then get screwed with high commissions, wide spreads and slippage? This all assumes you want to use your account for regular trading.

 

I agree. unless you intend to use the broker for regular trading of forex derivatives, you are better off using a uk/au/us/eu broker and then just wire your money when you need it.  But then picking a decent broker is another animal.  There are some less than scrupulous companies that will often mistaken your deposit as a donation, so you might be safer using an exchanger/money dealer like TransferWise.

[gk10002000]

I have done a lot of investing but zero experience with Forex.  Finpari name keeps popping up.  There seem to be a few others online look more like freaking online casinos.  Good luck.

[kmw]

I've been trading with axitrader and icmarkets for the last 4 years, no problems at all, aud base currency, both regulated by asic, it's definitely important to use a reputable broker,

 

I initially tried to find a Thai broker but it seems they are all bucket shops/b book,

 

When we need money I just wire it to my partners Thai bank account, we use a Thai immigration agent that offers international wire transfer services, he literally charges nothing as he has both Thai bank accounts and Australian accounts and remits the funds from his Thai account, so my funds actually never leave Australia so funds are available literally in a few hours lol

Edited April 22, 2017 by kmw