Is Binary Options trading legal in Thailand? – Guide for Thai traders

Thailand has not put up any such restrictions on binary options trading within the country. There is no such prohibition for brokers and traders to seek binary options trading in Thailand. In fact, Thailand is not only one of the most popular tourist destinations but is also one of the most popular financial hubs. It is just because Thailand is in very close proximity with Japan and Singapore. 

The country consists of a robust financial market system that features currency trading, futures trading, stock trading, and even binary options trading. The Stock Exchange of Thailand (SET) hosts the stock trading aspects, whereas The Futures Exchange (TFEX) hosts the futures trading within the country. This popularity and trading demand within the country made the authorities think about regularizing the trading aspects rather than banning them. 

The people of Thailand are eager to adopt binary options trading in the country. It is because this is the only form of trading that offers mostly above 90% payout in just one trade. Most of the countries have given regulations on binary trading, while some have also banned this form of trading. But Thailand respects the potential of earning money and has no regulation or ban upon it. 

In this article, you will get a clear insight into the details and necessary information about the legalization of binary options trading in Thailand. Apart from that, this guide will also give you the list of the three best brokers to help you leverage the potential of binary options trading in the country of Thailand. 

What are Binary Options?

Binary Options are financial instruments that are used for trading with mere ‘Yes or No questions. You are responsible for predicting whether the market for an asset is about to rise above the current price or is about to degrade than that of the current price within a specified time span. 

Binary Options trading is more like speculating about the market rather than buying shares of that asset. There are three elements that constitute to make the binary options contracts. The elements are underlying market, strike price, and expiry date & time. You can speculate mostly about stock indices, forex, commodities, and events market with binary options trading

For trading binary options, you need to know the market trends on priority. Just picking the asset with the highest payout is not how you trade with binary options. You need to analyze the market, use the tools & market signals, and follow all the possible measures to determine correct predictions. Random guess works are not permissible with binary options trading. 

You are responsible for your own risks as you seek binary options trading Thailand. Hence, you need to take precautions in order to invest your money with a genuine broker. The features within brokerage firms increase the fun and earnings with binary options trading. 

Are Binary Options legal in Thailand?

Yes, binary options trading in Thailand is legal for now. There are no such restrictions or regulations imposed on this trading form in Thailand. The regulatory authorities have not spoken about any specified regulation on binary options in Thailand. 

Hence, it means that the Thailand traders have their pathway clear for trading with binary options. But you need to remember that you are open to both regulated and unregulated brokers across the globe without any regulation. 

The regulated broker platforms have international regulation licenses to operate with traders of different countries that allow binary options trading. When a broker has such licenses, you can be assured of their genuineness and honest services. 

But, the unregulated brokers intend to scam you for your money. In fact, the unregulated brokers might claim to have licenses and regulations. But they fake to gain your trust. Once you deposit your money into their accounts, they will block you out. 

Therefore, if you are a Thailand trader, and are willing to leverage the potential of binary options trading that has no law or regulation within your country, then you need to be careful of making no mistakes while choosing the brokers.  

How to trade Binary Options in Thailand?

Trading binary options in Thailand is not that tough. As there is no legality issue or regulation on this trading format within the country, the traders can straight away pick their brokers and commence with their trading journey. But as the Thailand authorities do not verify the brokers by regulation, there is a chance that you might encounter unregulated brokers. 

Therefore, it is important for you to get an idea of how to know the genuineness of binary options brokers that are offering their services in Thailand. And for that, you need to consider some of the important factors of choice. These factors will help give you clarity on how to judge whether a broker is real or not:

  • First things first, you need to look for the regulation under which the broker is operating. For instance, you need to look for renowned regulatory bodies such as CySEC, FSA, ASIC, IFMRRC, and others. If they have the regulation license of any of these authorities, then you can count them as genuine. 
  • The next thing that you must do is compare the deposit bonuses of the brokers. A deposit bonus is something that you get for your initial deposit to the account. The higher it is, the better is the broker platform. You can use the bonuses for binary options trading as well. So, getting a leading edge in trading is always profitable! 
  • The payout percentage is something that gives an insight into what you will get in returns when you win the trade. Therefore, if the payout percentage for a broker platform’s assets is low, it won’t be worth taking risks. Instead, go for the one that has a minimum of 90% payout for the assets. 
  • The initial deposit amount also varies depending upon the brokers. The beginners do want to invest big and enter the arena of binary options trading in Thailand. Therefore, they must look for ones that are charging low initial deposits. Starting low is the demand for most of the traders, and the brokers are responding to it as well. 
  • You should look for a broker that has a demo account within its platform. The demo account is to give you a scope of practicing your skills and getting used to the interface. With a demo account, you get exposure to a real LIVE market. The features you use here will be the same as the ones you will get in your LIVE account. 
  • Check all of the terms and conditions of that platform. There might be a chance that they may have some conditions for winning a deposit bonus, withdrawing verifications, and others. So, check it beforehand! 

After you have chosen the broker, it is now time to learn trading binary options over those platforms. Irrespective of what broker you choose, the steps for investing in binary options are going to be the same. The only differences that the brokers will have will be in their interfaces and features. The steps to seek binary options trading Thailand are:

  1. First, you need to sign-up to your broker account and make the minimum deposit, as per the broker’s policies. These deposits will be stored in the broker account for you to use small amounts from them to place on trades. 
  2. Now, you need to choose the asset from the list of financial instruments. This asset will be the one on which you will be trading. 
  3. Then the asset’s market pricing and the fluctuations will be displayed over the live chart. 
  4. You need to choose then the expiry duration of the trade that you are about to start. Choose the date in between 60 seconds to 4 hours. Some of the broker platforms have expiry durations even more than that. 
  5. Moving on, you will then need to enter the trade amount. The minimum deposit and minimum trading amount for binary options trading in Thailand are different with different brokers. Therefore, if you are a beginner, then start with the minimum trading amount and gradually increase it in the long run. 
  6. Now, choose between the two sets of predictions. You need to predict whether the price of an asset will go up or down than the current pricing. The trade will continue until the expiry duration. 
  7. If you win the trade, you will get the specified profit payout of the asset. But if you lose the trade, you will lose all of the invested money. 

Hence, this is how you can actually trade binary options in Thailand. Choose the best broker and follow the steps. 

Brokers and platforms in Thailand

Are you struggling to compare the features and efficacies of brokers in order to choose the best? If yes, then put an end to your search, as here are the best three broker platforms that are offering binary options trading Thailand services. You just need to learn these brokers’ basic specifications and features to compare and choose one that suits your needs and budget the best. The brokers are as follows: 

#1 Quotex.io

Quotex.io has gained popularity in several countries for its impeccable binary trading services. Also, Quotex.io is accessible by Thailand traders. This platform is under the IFMRRC regulation, which proves its genuineness in the field. Quotex.io can offer you a maximum payout of up to 100%, depending on the asset’s market performance. 

In addition to that, Quotex.io also charges you a minimal deposit of $10 on sign-up. Moreover, you can start your journey of binary options trading in Thailand with just $1. You also get a demo account to get used to the interface and brush up on your skills to start earning profits. This brokerage platform charges no fees for withdrawals of any amount. In addition to that, you also get a 40% sign-up bonus for the first deposit. So, the higher you deposit, the more the bonus will be. 

The interface of Quotex.io is quite simple that attracts most of the Thailand traders, who are keen to leverage the potential of digital trading options. The company also has high-security standards to protect the information of clients over the platform. 

#2 IQ Option

IQ Option is a trustworthy broker that comes with an easy account opening process for new traders. It intends to give you a maximum payout of 95% with most of its assets. The minimum deposit amount is $10 for this broker platform as well. But, you can commence binary options trading with just $1. 

This broker platform has a demo account for beginners and professionals to brush up on their skills and learn the use of its interface. Also, IQ Option consists of several tools and solutions to ensure that your predictions about the traders are properly calculated. Therefore, make sure you use those tools on priority. 

IQ Option processes the withdrawals within just one business day. You can use almost all modes of payment within the IQ Option for both deposits and withdrawals. The best thing is that IQ Option has a mobile application for the ease of traders so that they can easily access the platform. 

#3 Pocket Option

Pocket Option is one of the best trading platforms for binary options in Thailand. You need to keep in mind that the minimum deposit for Pocket Option is higher than that of the other brokers in this list. You will have to pay a minimum of $50 deposit on sign-up. It is because any amount above $50 will get a 50% deposit bonus for it. 

Therefore, even if the deposit expectation is high with Pocket Option, the bonuses and features are making up for it. You get over 130 assets to trade with and has access to social trading as well. Pocket Option is under the regulation of CySEC and is offering a maximum payout of 93% for its selected assets. You can start trading with just $1! 

Regulations in Thailand

All of the financial markets within Thailand are taken care of by the Bank of Thailand. It is the central bank of this country. Apart from that, the Thai SEC (Securities and Exchange Commission) takes control over the futures and stock markets. Thailand has some restrictions on OTC (Over the Counter) Derivatives market. Hence, it allows trading of interest rate and currency derivatives over TFEX. 

Thailand has no such regulation specified by the authorities for binary options. The Bank of Thailand has proposed a very rightful policy for forex markets trading. But, the regulatory department is silent for the binary options. In fact, the Central Bank of Thailand has some guidelines that are specific for the remittance and purchase of foreign exchange. 

Hence, these guidelines will also be under implementation for binary options trading in Thailand. The traders will get an idea of how they can remit the money to offshore binary options brokers for their trading needs. You need to go with the offshore brokers because there are no local binary options brokers in Thailand. 

All of the trading formats within Thailand are under the subject of taxation. It means that you will have to pay tax for all the money or profit you earn with binary options trading from offshore brokers. If you fail to do so, you will have to pay the fine! 

Education for Thai traders

The only education that the Thailand traders need is to have patience while choosing the right broker and investing the capital money. It is because binary options trading is profitable but is risky as well. Therefore, you cannot expect things to always go in your favor while you trade with your selected asset. 

There are scenarios when your market prediction might fail, and you might end up with bankruptcy. Therefore, you must study the market’s apparent movements. You can start slow by investing the minimum amount or little more than that. Check for the results of either success or failure. In case of failure, you need to change and amend your strategy. And in case you are successful, you should improve your strategy! 

If you are a beginner, you should start slow. You can gradually increase your trading pace. Moreover, there are indicator tools over the broker platforms that you choose. Follow those indicator tools and enhance the accuracy of your prediction. 

Some of the top brokers also offer copy trading features over their platform. Using that, you can copy the trading pattern of any of the successful traders. So, with all this information, make sure you take that chance of kick-starting your career in binary options trading in Thailand. 

Conclusion

If you have understood the importance of choosing the right broker and making a correct approach towards binary options trading in Thailand, then you are ready to leverage its potential. This guide has given you all of the necessary information that you need in order to help yourself master the art of binary options trading in Thailand. 

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