Forex Brokers in Vietnam

Richard Montana | November 25, 2022

Forex trading in Vietnam is popular amongst residents who are looking to buy and sell currencies to speculate on the fluctuating currency market prices. Whilst international forex brokers can accept traders in Vietnam as clients, forex brokers in Vietnam are required to become authorised by the State Bank of Vietnam (SBV) which is the central bank of Vietnam and works to support monetary stability, implement fiscal policies, support institutions’ stability and supervise financial institutions. However, they do not currently regulate forex brokers which is why many Vietnam traders instead look for a regulated broker that is located overseas.

Best forex brokers Vietnam

To find the best forex brokers in Vietnam, we created a list of all the forex brokers that accept clients in Vietnam and then ranked them based on our overall rating. You can see our list of our top forex brokers for Vietnam below.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA

$100

2006

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA

$250

1974

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$200

2010

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.

ASIC, CySEC, DFSA, IFSC

$5

2009

1:888

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.

ASIC, CySEC, FSA, SCB

$200

2007

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

SBV forex brokers in Vietnam

In Vietnam, the legality of forex trading is a grey area. Forex floor trading and trading with local forex providers is illegal but trading with an international forex broker is legal. The SBV (State Bank of Vietnam) ruled in 2014 that forex trading in foreign currency markets was prohibited. Because of this, there are no legally regulated forex brokers in the country.

However, this does not mean that traders from Vietnam cannot engaging in foreign exchange trading with an offshore broker, ideally one that is regulated by a top tier regulator such as the FCA, ASIC or CySEC.

The primary stock exchange in Vietnam, the Ho Chi Minh City Stock Exchange, was founded in July 2000. Ho Chi Minh Stock Exchange (commonly referred to as HOSE) is one of two subsidiary stock exchanges of the VNX in Vietnam and also the largest one. Originally, the HOSE was officially opened as a securities trading centre in 2000 and then upgraded to a stock exchange in 2007.

How to verify SBV regulated brokers in Vietnam

Vietnam draws a lot of interest from retail Forex brokers lately as it is a strong economy and a large untapped market for them. Most of them still operate there just like they operate in China – through local introducing brokers or through online marketing only however some are thinking of opening local branches, subject to regulatory limitations.

You can find an authorised broker’s license number from the disclosure text at the bottom of their homepage. You can then look up the authorisation number on the regulators website to confirm if the forex broker is regulated in Vietnam to provide online forex trading products and services.

Some Vietnam forex brokers are regulated in more than one jurisdiction so that they can offer a different range of trading accounts and conditions depending on the location of the trader and regulated entity that they choose to open a forex trading account with.

Vietnamese authorities have not issued any licenses to traders or brokers, making the industry illegal and fines can be issued to those caught trading. However, brokers based in other countries do allow forex traders from Vietnam, giving traders an opportunity to trade forex and other financial instruments online.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.


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