Best Online Forex Brokers In Vietnam

Best brokers for Forex trading in Vietnam compared

RoboForex - tight spreads; copy-trading system; fast order execution

RoboForex Review

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RoboForex is a good choice for traders from Vietnam. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.

The company is responsible for fulfilling its tasks by offering its clients: the latest trading products, unique developments in data transmission, and trading functionality. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize (license No. 000138/437).

The FSC Belize is one of the most reputable regulators. Additionally, RoboForex is a member of The Financial Commission with a guaranteed compensation fund of 20,000 euros, which guarantees reliability for a trader.

Exness - zero spread accounts; low trading costs; 100+ currency pairs

Exness Review

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You can lose your money.

Exness is a good choice for traders from Vietnam. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.

Exness broker holds a leading position in the ratings of Forex brokers in New Zealand, South Africa, and EU countries. The company prioritizes the implementation of innovative technologies in order to meet customers needs. Each user has access to a complete set of tools, regardless of the type of the account opened. Exness also introduces new trading tools that open up even more opportunities for traders to earn money. Today, on the Exness.com website, you can trade on currency pairs, cryptocurrencies, metals, stocks, and energy.

Tickmill - copy-trading service; fully customizable charts; superior analysis tools

Tickmill Review

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Tickmill is a good choice for traders from Vietnam. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.

Tickmill is a brokerage company that attracts traders with low spreads and comfortable trading conditions. The company focuses on innovations, allowing customers to trade not only manually, but also using EAs and copy trading. A fairly extensive list of CFD trading instruments includes not only currency pairs but also stocks, indices, commodities, cryptocurrencies and bonds.

Tickmill is regulated by the Seychelles Financial Services Authority, the UK Financial Conduct Authority (FCA). The broker is also regulated by the Cyprus Securities and Exchange Commission (CySEC), the Labuan Financial Services Authority (Labuan FSA) and the Financial Sector Conduct Authority (FSCA) in South Africa. All this is a guarantee of the reliability and safety of funds for a trader.

IC Markets - Broker with the widest range of account types

IC Markets Review

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Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

IC Markets is a good choice for traders from Vietnam. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.

IC Markets Trading Company has been operating on the Forex Market for over 10 years and during this time managed to gain its well-deserved reputation as one of the most reliable platforms on the Forex Market. The broker aims to provide its customers with the best market conditions and they achieve their goals by constantly developing its tools and technology to provide traders with the most reliable analysis tools, upgraded versions of trading platforms, and the highest quality connection.

IC Markets is regulated by CySEC (Cyprus), ASIC (Australia), SFSA (Seychelles). The broker uses the services of H Savy Insurance Co Ltd for financial liability insurance.

XM Group - best for traders of all level

XM Group Review

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77.74% of retail investor accounts lose money when trading CFDs with this provider.

XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted more than 5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.

Is Forex trading legit in Vietnam?

Trading of foreign currencies, commonly known as Forex trading, is legally permissible in Vietnam. The State Bank of Vietnam (SBV), the country's central bank and central regulatory body for foreign exchange control, foreign currencies, and gold trading, oversees the currency exchange and sets the regulations that licensed brokers must adhere to.

Vietnamese national residents are allowed to buy/sell, transfer, or carry foreign currencies abroad in accordance with the SBV's regulations.

The best Forex brokers for beginners in Vietnam are those that offer low spreads, a variety of trading platforms, and reliable customer service. Many of these brokers also offer educational resources and tools to help new traders learn more about the Forex market and develop their trading skills. It is important to compare the different brokers before making a selection, as some may offer better services than others.

In addition to the local brokers, there are also international brokers that operate in Vietnam. These brokers offer a wider range of services and products, including access to global markets. However, it is important to make sure that the international broker is properly regulated in their home country as well as in Vietnam.

Choosing the right broker is essential for successful Forex trading. It is important to research different brokers and compare their services to find the one that best suits your trading needs. With the right broker, traders can gain access to the global markets and start trading with confidence.

Is Forex safe in Vietnam?

For a long time, the Vietnamese financial sector was considered unsafe due to its notoriety for lack of accountability. This, however, has been changing lately.

The security of investments in foreign exchange markets in Vietnam is ensured by the stringent regulation and a variety of measures taken by the country's financial authorities. The State Bank of Vietnam and the Ministry of Finance have both implemented measures to ensure that Forex trading is secure and regulated.

These measures include the requirement for all Forex brokers to be licensed and regulated, as well as the implementation of anti-money laundering and know-your-customer (KYC) regulations. All of these measures ensure that investors can trade with confidence and that their funds are protected.

In addition to these measures, the best online Forex brokers in Vietnam offer a range of additional security measures to further protect their clients' funds. These measures include segregated client accounts, which ensure that client funds are held separately from the broker's own funds and are not used for any other purpose. Brokers also use sophisticated measures such as encryption and two-factor authentication to protect their clients' personal and financial data.

The combination of stringent regulation and additional security measures taken by the best online Forex brokers in Vietnam ensure that trading is safe and secure. This provides the confidence needed to invest with confidence in the foreign exchange markets.

How to choose a Forex broker in Vietnam?

When selecting a foreign exchange broker in Vietnam, it is important to carefully consider a range of factors. This includes the broker's regulation, trading conditions, available trading platforms, customer service, fees, and more. Here are the most important criteria to consider to help you make an informed decision:

By researching the best broker Forex features, you can make sure you are selecting a broker who meets your needs and provides a secure trading environment.

Additionally, you can compare brokers side-by-side to determine which one is the best fit for you. With the right information and research, you can make a well-researched decision and choose the best Forex broker in Vietnam for your specific needs.

What is the best time to trade Forex in Vietnam?

Forex trading in Vietnam, similar to numerous global regions, is most vibrant during the overlapping hours of the major trading sessions. These overlaps mark periods of heightened market liquidity and trading activity, making them opportune moments for traders. Here's a closer look at these periods and the key currency pairs that dominate each session:

These are the key overlapping sessions:

• Sydney and Tokyo Overlap (23.00 GMT to 7.00 GMT): This overlap fosters a surge in trading volumes for the currencies of the Pacific region. Some notable pairs during this overlap include AUD/USD, AUD/JPY, AUD/NZD, USD/JPY, NZD/JPY, and NZD/USD

• Tokyo and London Overlap (8.00 GMT to 9.00 GMT): This brief overlap marks a period of vigorous trading for European and Japanese currency pairs. Traders can look out for pairs such as EUR/JPY, GBP/JPY, and more

• London and New York Overlap (13.00 GMT to 16.00 GMT): This period is particularly liquid for pairs like EUR/USD and GBP/USD. The simultaneous operation of both these major trading hubs amplifies trading activity

To capitalize on the Forex market in Vietnam, focusing on the overlapping trading sessions is very beneficial. These overlaps provide a dynamic environment with enhanced liquidity and trading opportunities, especially for the currency pairs predominant in those sessions.

Best Forex pairs for Vietnamese clients

Investigating the best Forex pairs for Vietnamese clients is important for currency traders. With an array of options, the best Forex brokers can help clients make the most informed investing decisions.

These pairs tend to be the most traded currency pairs in the world and offer low spreads and faster execution.

What are the best Forex brokers for beginners in Vietnam?

Navigating the complex world of Forex trading can be daunting for newcomers, and that's why selecting the right broker can make all the difference. For beginners, it's crucial to find brokers that offer features tailored to their lack of experience and limited initial capital.

Firstly, look for brokers that have a low minimum deposit requirement, ensuring that new traders can start without a hefty investment. Many top-tier brokers also offer demo and cent accounts. Demo accounts allow novices to practice trading with virtual funds, familiarizing themselves with market dynamics without risking real money. Cent accounts, on the other hand, let them trade with very small amounts, making the transition from demo to live trading smoother.

In addition to these account types, beginners can benefit from brokers that offer passive income options like copy trading and PAMM accounts. With copy trading, newbies can replicate the trades of experienced traders, leveraging their expertise while still learning the ropes.

PAMM (Percentage Allocation Management Module) accounts allow them to invest their capital with professional traders who manage and trade on their behalf, sharing the profits. This not only offers an avenue for potential returns but also provides an educational experience as they observe the strategies employed by seasoned traders.

Last but not least, prioritize brokers with comprehensive educational materials, including webinars, tutorials, eBooks and one-on-one coaching. This can ensure a strong foundation in Forex trading.

Focusing on these elements helps beginners make a confident and informed choice in their Forex trading journey.

RoboForex, Tickmill, and IC Markets are three of the leading Forex brokers for beginners in Vietnam that fit the criteria outlined above.

All three brokers offer low minimum deposits, demo and cent accounts, and passive income options such as copy trading and PAMM accounts, making them ideal for those just starting out in Forex trading.

In addition, they all provide comprehensive educational materials to help beginners get to grips with the basics of Forex trading.

RoboForex

RoboForex is a Forex broker that offers copy trading capabilities, a low minimum deposit requirement, and a strategy builder. It is an online broker that provides trading services to people in Vietnam and the rest of the world.

The copy trading feature enables users to copy the trading activity of experienced traders for easy profits. The low minimum deposit requirement to make an account of only $10 makes it accessible for traders with limited capital. The strategy builder provides tools to construct profitable trading strategies.

RoboForex is a reliable broker as it is regulated by the International Financial Services Commission Belize (FSC). Additionally, it provides a variety of trading instruments such as Forex, CFDs, and crypto. It also offers a range of trading platforms, including MetaTrader 4 and 5, and the cTrader.

Furthermore, it provides various payment methods such as bank payments, e-payments and bank cards. All these features make RoboForex an ideal choice for beginners in Vietnam.

Tickmill

Tickmill is another online broker that provides Forex and CFD trading services to traders in Vietnam. It offers a wide selection of trading instruments and platforms, as well as low commissions and tight spreads.

The broker also provides educational materials, such as webinars and video tutorials, to help traders improve their trading skills. Additionally, it offers both demo and cent accounts which help traders test their strategies without risking real money.

IC Markets

IC Markets is a trading platform providing access to Forex, CFD, and cryptocurrency markets. It offers a range of services such as low spreads and fast execution, seamless trading with no requotes, advanced trading tools, and various platforms for trading. Additionally, IC Markets offers a range of account types for traders with different goals and risk appetite.

The platform also offers an Accent on PAMM and copy trading accounts, allowing traders to copy the strategies of other experienced traders. IC Markets provides a safe and secure trading environment and offers excellent customer service. It is a trusted broker in Vietnam and has gained a good reputation among traders for providing reliable trading services.

How to Verify SBV Authorisation

Verifying an SBV Authorisation is an important step for traders looking to select a top-rated Forex broker in Vietnam. SBV stands for the State Bank of Vietnam, and its authorization is necessary for Forex brokers to operate legally in the country. The authorization process is designed to protect traders from fraud or illegal activities.

When verifying SBV authorization, traders should look for a logo or certificate from the bank on the broker's website. This logo shows that the broker has been approved by the State Bank of Vietnam and is officially registered. The logo or certificate should also include the name of the broker and the registration number.

Traders should also be aware that the SBV authorization is only valid for a limited period of time. Therefore, it is important to make sure that the authorization is up to date. To do this, traders should check the date of issue and the date of renewal.

Finally, the SBV authorization should also include the license number, which is unique to each broker. This number is issued by the State Bank of Vietnam and should be clearly visible on the broker's website. If the number cannot be found, then it is likely that the broker is not authorized by the bank.

To be extra safe, even if the number is found on the broker’s website, it is good practice to go to the regulator’s website and look up the license number there as well, to make sure the numbers match.

Verifying an SBV authorisation is an important step for traders looking to select a top-rated Forex broker in Vietnam. This authorization is necessary to ensure that the broker is legally registered and has the necessary license.

Do I need to pay taxes for Forex trading in Vietnam?

In Vietnam, taxes may be applicable to profits made from Forex trading. The amount of tax payable, however, depends on the individual's tax residency status.

Individuals who are tax residents in Vietnam are required to pay a Personal Income Tax (PIT) on all income generated from sources in and outside of Vietnam. This includes capital gains, such as profits from Forex trading. Non-residents, on the other hand, are only liable to pay taxes on income generated from Vietnamese sources.

The rate of tax for resident individuals is progressive, with the lowest rate of 5% and the highest rate of 35% payable on income exceeding VND120 million (approximately US$5,200). Other tax rates include 10%, 15%, 20%, and 25%. Non-residents are only subject to the 20% rate on income generated in Vietnam.

Resident individuals are entitled to a standard deduction of VND9 million (approximately US$400) per year, which may be claimed against income from any source.

Taxpayers in Vietnam should declare their income and pay taxes by registering, declaring, and paying taxes on their income via the General Department of Taxation (GDT) of Vietnam’s online tax portal. The declared information will be collated and will need to be lodged with the GDT on a quarterly basis.

Penalties may be imposed on taxpayers who fail to pay taxes in a timely manner. In order to avoid penalties and engaging in illegal activity, it is advised to consult a tax professional.