Thailand's Securities and Exchange Commission (SEC) licenses 42 active securities companies as of March 2026 (SEC Thailand registry), each authorised to conduct securities and derivatives transactions under the Securities and Exchange Act B.E. 2535 (1992). SEC-licensed firms must participate in the Securities Investor Protection Fund (SIPF), which covers eligible investors up to THB 1 million per broker in the event of insolvency. Retail leverage is capped at 1:50 on major forex pairs and 1:20 on minor pairs — and the SEC has signalled further tightening in 2026.
Last verified: 17 March 2026 | Brokers checked: 42 licensed securities companies | Source: SEC Thailand Public Register
TL;DR: SEC Thailand licences 42 securities companies, not traditional international retail forex brokers. Two key ones with verified derivatives permissions are KGI Securities (ลก-0057-01) and Asia Plus Securities (ลก-0004-02). SIPF protection covers up to THB 1 million per investor. Most Thai traders use offshore brokers — this guide explains why, what the SEC actually covers, and how to verify any claim.
What Is the SEC Thailand? [Regulator Fact Box]
The Securities and Exchange Commission of Thailand (เว็บไซต์ ก.ล.ต.) is Thailand's primary capital markets regulator. Established in 1992 under the Securities and Exchange Act B.E. 2535, it oversees securities exchanges, listed companies, derivatives markets, investment funds, and licensed intermediaries.
Here's the honest part that most forex guides gloss over: the SEC does not license international retail forex brokers the way the FCA, ASIC, or CySEC do. What it licenses are Thai securities companies — domestic firms that trade stocks on the SET, act as derivatives brokers on the TFEX, and may also have permissions to conduct forex-related transactions as part of their services. If you're looking at a website that says "SEC Thailand regulated" and they're not a Thai securities house, that claim needs scrutiny.
| Detail | Value |
|---|---|
| Full Name | Securities and Exchange Commission of Thailand |
| Thai Name | สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ (ก.ล.ต.) |
| Abbreviation | SEC Thailand |
| Jurisdiction | Kingdom of Thailand |
| Established | 1992 (Securities and Exchange Act B.E. 2535) |
| Licensed Securities Companies | 42 currently active (March 2026) |
| Derivatives Broker Licence Type | ส-1 (futures brokerage), ส-2 (futures dealing) |
| Compensation Scheme — Securities | SIPF up to THB 1,000,000 per investor per broker |
| Compensation Scheme — Derivatives | DIPF up to THB 1,000,000 per investor per event |
| Segregated Funds Required | Yes |
| Negative Balance Protection | Not mandated (unlike FCA/ASIC/CySEC) |
| Max Retail Leverage (Forex Majors) | 1:50 |
| Max Retail Leverage (Forex Minors) | 1:20 |
| Public Registry URL | market.sec.or.th |
| Enforcement Actions URL | market.sec.or.th/Enforce/Recent |
THB 1 million translates to roughly $28,000–$29,000 USD at current exchange rates. That's roughly a third of the UK's FSCS cap (£85,000) and significantly below what a serious retail forex trader might have on account. Something worth knowing before treating SEC Thailand as equivalent to Tier 1 European regulators.
SEC-Licensed Securities Companies — Verified Database
This is not a "best forex brokers" list. It is a verification report of the 42 companies currently holding active securities company licences from the SEC Thailand (source: SEC Thailand register, March 2026).
Note: all 42 companies are primarily Thai securities houses offering stock brokerage and derivatives services on local exchanges. Forex offerings are a secondary capability for those with derivatives permissions — not the core business.
Verified with specific licence numbers:
| Broker | Licence No. (Securities) | Licence No. (Derivatives) | Status | Est. | Protection | Verify |
|---|---|---|---|---|---|---|
| KGI Securities (Thailand) | ลก-0057-01 | ส1-0057-01 | ✅ Active | 1975 | SIPF + DIPF | Registry → |
| Asia Plus Securities | ลก-0004-02 | ส1-0004-02 | ✅ Active | 2015 | SIPF + DIPF | Registry → |
| Maybank Securities Thailand | UNVERIFIED | Has derivatives licence | ✅ Active | — | SIPF + DIPF | Registry → |
Active in registry — specific licence numbers require direct registry verification:
| Broker | Status | Derivatives | Protection | Registry |
|---|---|---|---|---|
| AIRA Securities PCL | ✅ Active | Check registry | SIPF | Verify → |
| ASL Securities | ✅ Active | Check registry | SIPF | Verify → |
| Beyond Securities PCL | ✅ Active | Check registry | SIPF | Verify → |
| Bualuang Securities PCL | ✅ Active | Check registry | SIPF | Verify → |
| CGS International Securities (Thailand) | ✅ Active | Check registry | SIPF | Verify → |
| Citicorp Securities (Thailand) | ✅ Active | Check registry | SIPF | Verify → |
| CLSA Securities (Thailand) | ✅ Active | Check registry | SIPF | Verify → |
| DAOL Securities (Thailand) PCL | ✅ Active | Check registry | SIPF | Verify → |
| DBS Vickers Securities (Thailand) | ✅ Active | Check registry | SIPF | Verify → |
All 42 currently active companies are listed at market.sec.or.th. WBB recommends verifying directly rather than trusting any third-party list, including this one.
KGI Securities (Thailand) — Active ✅
Securities Licence: ลก-0057-01 | Derivatives Licence: ส1-0057-01 | Entity: บริษัท หลักทรัพย์เคจีไอ (ประเทศไทย) จำกัด (มหาชน) Verify on SEC Thailand Register →
KGI Securities (Thailand) is one of the longest-standing SEC-licensed securities companies in the country, originally incorporated in 1975 (registration number 0107536000293). That's older than many of the regulators in this space. It holds both a securities brokerage licence (Type ก) and a derivatives brokerage licence (ส-1), granting it permission to act as a futures trading agent on the Thailand Futures Exchange (TFEX).
What this means practically: KGI can facilitate derivatives transactions that include currency-related products traded on TFEX. It is not a traditional forex CFD broker. Clients trade exchange-listed derivatives, not OTC forex products. The distinction matters for execution, pricing, and the types of currency exposure available.
Authorised activities include securities brokerage, securities dealing, investment advisory, securities distribution, and securities lending. Derivatives permissions cover futures brokerage and futures dealing.
Key finding: KGI Securities holds one of the few verified dual licences (securities + derivatives) confirmed directly from the SEC Thailand registry. For Thai investors wanting domestic regulation, it represents a credible option for structured currency exposure via TFEX-listed contracts.
Full safety investigation: Coming soon
Asia Plus Securities — Active ✅
Securities Licence: ลก-0004-02 | Derivatives Licence: ส1-0004-02 | Entity: บริษัท หลักทรัพย์ เอเซีย พลัส จำกัด Verify on SEC Thailand Register →
Asia Plus Securities holds a full-service licence covering securities brokerage, trading, advisory, underwriting, and lending — plus derivatives brokerage and trading permissions under its ส1 licence. Paid-in capital stands at THB 4,500,000,000 (4.5 billion baht), which is significant and reflects a well-capitalised Thai securities house.
Like KGI, Asia Plus operates primarily as a Thai capital markets firm rather than an international forex broker. Forex derivative access is via TFEX contracts.
Key finding: Strong capitalisation and dual verified licences. Primarily a Thai equity and derivatives broker, not a retail forex specialist. Clients seeking direct currency exposure would need to confirm what specific TFEX-listed FX contracts Asia Plus facilitates.
Full safety investigation: Coming soon
Maybank Securities Thailand — Active ✅
Securities Licence: UNVERIFIED (confirm on registry) | Derivatives: Has derivatives licence | Entity: Maybank Securities (Thailand) Public Company Limited Verify on SEC Thailand Register →
Maybank Securities Thailand is the Thai subsidiary of the Malaysian banking group Maybank. According to publicly available information, it holds four types of securities business licences from the Ministry of Finance (securities brokerage, securities trading, underwriting, and investment advisory) plus a derivatives broker licence from the SEC.
Services include retail and institutional securities broking, derivatives, mutual fund, debt capital markets, investment management, offshore investment, investment banking, and market research.
Key finding: One of the more comprehensive service providers among SEC Thailand-licensed firms, with the backing of a regional banking group. Specific licence numbers require direct registry verification before publishing as confirmed.
How to Verify a Broker's SEC Thailand Licence Yourself
You don't need to rely on any website — including this one — to check whether a Thai securities company is genuinely SEC-licensed. Here's how to do it directly.
Step 1: Go to the SEC Thailand's Official Register
Visit market.sec.or.th/public/orap/companyprofile01.aspx?lang=en. This is the official, publicly searchable register of licensed intermediaries. It's free to use.
Step 2: Search by Company Name
Enter the company name in the search field. Use the official Thai registered name where possible. If you only know the brand name, try both the English and Thai versions — many companies have slightly different trading names versus registered legal names.
Step 3: Confirm Licence Type and Status
Check the licence type. For forex-related activities, you want either:
- Type ก (securities company licence) — covers securities brokerage and related activities
- ส-1 (derivatives brokerage licence) — covers futures and derivatives trading on TFEX
A company can hold a securities licence but no derivatives licence. If you're looking for currency derivatives specifically, confirm the ส-1 or ส-2 licence is active.
Step 4: Cross-Check the Legal Entity Name
The name on the SEC register is the legal entity name. This often differs from the brand name or trading name. Your account opening documents must reference the SEC-registered entity — not an offshore subsidiary or holding company.
Step 5: Check the Derivatives Investor Protection Fund Membership
Visit tfex.co.th/en/member/dipf.html to confirm whether the firm is a DIPF member. This is the protection fund for derivatives accounts. SIPF membership covers securities accounts (set.or.th/en/market/information/investor-protection/sipf).
If a firm claims to be SEC-licensed for forex derivatives but isn't on the DIPF member list, that's a red flag.
What Does SEC Thailand Protection Actually Cover?
Is the SIPF Compensation Worth Trusting?
The Securities Investor Protection Fund (SIPF) compensates investors when an SIPF-member broker becomes insolvent or fails to comply with an arbitration ruling. Coverage is up to THB 1 million per investor per broker (SET SIPF page).
That's automatic — no registration required. You open an account with a SIPF-member firm and the protection applies.
The ceiling matters. At current exchange rates, THB 1 million is roughly $28,000 USD. For context:
- UK's FSCS: £85,000 (~$107,000 USD)
- EU's ICF (CySEC): €20,000 (~$22,000 USD)
- Australia: No compensation fund for forex
- SEC Thailand SIPF: THB 1 million (~$28,000 USD)
SEC Thailand's SIPF sits above CySEC's ICF on the raw coverage number, but well below the FCA's. For derivatives accounts specifically, the DIPF offers equivalent THB 1 million protection through the Thailand Futures Exchange (TFEX DIPF page).
What SIPF does NOT cover: Losses from price movements in securities trading. If your Thai securities broker is solvent and you lose money on a bad trade, SIPF won't help. The protection is purely about broker failure — your assets not being returned when the firm collapses.
What Leverage Can You Get With SEC Thailand Brokers?
Retail leverage for forex trading through SEC Thailand-licensed securities companies is capped at 1:50 for major currency pairs and 1:20 for minor pairs. Exotic pairs are also capped at 1:20.
| Asset Class | Max Retail Leverage | Under 2026 Review? |
|---|---|---|
| Forex Majors (EUR/USD, USD/JPY, etc.) | 1:50 | Yes — possible reduction |
| Forex Minors | 1:20 | Yes |
| Exotic Pairs | 1:20 | Yes |
| Thai Equity CFDs | Varies by instrument | — |
| Commodities | Varies by instrument | — |
The SEC announced a review of these limits in early 2026, with retail-focused marketing of derivatives and leveraged products facing greater scrutiny. Suitability assessments — including income verification and trading knowledge checks — are being tightened. No blanket leverage cut has been confirmed yet, but the direction is clear (FXTrustScore).
Compare this with offshore brokers available to Thai residents: some VFSC (Vanuatu) licensed firms offer 1:500, and many ASIC-regulated brokers offer 1:30. The SEC Thailand limits are mid-tier — stricter than Vanuatu, less strict than the FCA's 1:30 cap.
Segregated Funds and Capital Requirements
SEC-licensed securities companies must segregate client funds from company operating capital. This is a baseline requirement under Thai securities law. If a firm fails, your trading capital is not absorbed into the general insolvency estate — it remains in the client account pool.
Capital requirements vary by licence type. A basic securities brokerage-only licence requires a minimum THB 1 million in paid-in capital. Full-service securities companies (covering dealing, underwriting, custodian services, and fund management) face substantially higher requirements. Derivatives broker licences carry their own capital thresholds.
A relaxation of minimum paid-up capital requirements for smaller operators was implemented in recent years, allowing lighter-touch entities to operate. However, the 42 companies currently on the registry represent the full-service tier — most are well-capitalised Thai securities houses, not minimal-capital shells.
Red Flags: When "SEC-Thailand Licensed" Doesn't Mean Safe
Clone Firms Using Fake SEC Licence Numbers
Thailand's enforcement history includes multiple cases of fraudulent firms claiming regulatory legitimacy they don't have. The Forex-3D case — where three operators were each sentenced to 49,125 years in prison for fraud involving billions of baht — operated without any legal licence from the Ministry of Finance or the SEC (Bank of Thailand warning).
The SEC maintains an enforcement and warning database at market.sec.or.th/public/idisc/en/Enforce/Recent. Check it before trusting any claim. Clone firms commonly:
- Display a real securities company's name or licence number on their website
- Create websites that look like legitimate Thai securities houses
- Claim SEC authorisation without appearing in the official register
How to spot them: Search the company name on the SEC register. If the URL of the website they give you doesn't match the address on the registered entity profile, stop. The SEC register shows the official contact details, registered address, and website of each licensed firm.
Why Most Forex Brokers in Thailand Aren't SEC-Regulated at All
This is the key fact that most "Best Forex Brokers in Thailand" guides miss entirely.
When you see pages listing XM, Pepperstone, eToro, or Exness as "top forex brokers for Thai traders" — these firms are not SEC Thailand regulated. They hold licences from other regulators (ASIC, CySEC, FCA, FSA Seychelles) and accept Thai clients under their foreign licences.
Thai residents can legally trade with internationally regulated offshore brokers. There's no law preventing it. But doing so means your primary regulatory protection comes from wherever the broker is licensed — not from the SEC Thailand or Thai consumer protection frameworks.
The SEC Thailand's registry of 42 companies covers Thai domestic capital markets firms. None of the major international retail forex brands appear on it. This isn't a criticism of those brands — it's just a structural reality of how Thai financial regulation works.
Offshore Entities vs. Thai-Licensed Entities
Some international broker groups have established Thai-registered entities that may hold BOT or SEC licences for limited purposes. If a broker has a Thai entity, check:
- Whether that specific Thai entity — not the group's main overseas entity — is what processes your account
- Whether the Thai entity holds a securities or derivatives licence from the SEC (searchable on the registry)
- Whether the Thai entity is a SIPF/DIPF member (check SET/TFEX member lists)
You'd be surprised how often traders find that even though a broker has a Thai office, their actual account is held with the Seychelles or BVI entity. That entity is not SEC-licensed, and the SIPF doesn't apply.
Recent SEC Thailand Enforcement Actions Against Financial Firms
The SEC Thailand maintains an active enforcement programme. Recent enforcement actions — including criminal complaints, administrative orders, fines, and civil actions — are published at market.sec.or.th/public/idisc/en/Enforce/Recent.
Notable enforcement activity in the forex/investments space:
| Date | Entity / Person | Action Type | Reason | Source |
|---|---|---|---|---|
| 2024 (multiple) | Various unlicensed operators | Criminal complaints | Operating without Ministry of Finance licence, including forex trading platforms | SEC Thailand Enforcement |
| Ongoing | Forex-3D operators | Criminal conviction | Fraud, unlicensed forex operations, losses of several billion baht | BOT Warning |
The SEC increased scrutiny of leveraged forex and CFD products in 2025–2026, with particular focus on:
- Return projections and simplified profit messaging in marketing materials
- Suitability assessments (income verification, trading knowledge checks)
- Unlicensed operators accepting Thai retail clients
In Asia as a whole, investment fraud reached $688.42 billion in 2024 (TrustFinance). Thailand is not isolated from this trend. The SEC's enforcement programme, while active, is primarily focused on domestic securities law violations rather than the broader offshore broker landscape.
"We regulate the conduct of businesses to ensure our financial markets are honest, competitive and fair." — Securities and Exchange Commission Thailand, official mandate
The Bottom Line on SEC-Thailand Regulated Forex Brokers
SEC Thailand licences 42 domestic securities companies, not international retail forex brokers. For traders in Thailand seeking local regulatory protection, the SIPF and DIPF schemes provide up to THB 1 million in coverage — meaningful but well below FCA or CySEC equivalent protections. The honest picture: if you're looking for a traditional forex broker regulated by the SEC Thailand, you won't find one on the international broker comparison sites. What you'll find is Thai securities houses — well-regulated for Thai capital markets, but a different product than the CFD-based retail forex offered by global platforms. Always verify directly on the SEC Thailand register before depositing with any firm claiming SEC authorisation. For comparison with stronger retail forex regulation, see our FCA regulated forex brokers and MAS regulated forex brokers guides.
Frequently Asked Questions
Is forex trading legal in Thailand?
Yes, forex trading is legal in Thailand. The Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) jointly regulate foreign exchange and securities activities. Thai residents can trade with domestically licensed securities companies and legally use internationally regulated offshore brokers. The BOT requires a Ministry of Finance licence for all commercial forex transactions.
What is the SEC Thailand?
The Securities and Exchange Commission of Thailand (ก.ล.ต.) is Thailand's capital markets regulator, established in 1992 under the Securities and Exchange Act B.E. 2535. It licenses and supervises securities companies, derivatives brokers, investment managers, and digital asset businesses. As of March 2026, it has 42 active licensed securities companies on its public register at market.sec.or.th.
How do I check if a broker is SEC Thailand regulated?
Go to the official SEC Thailand register at market.sec.or.th/public/orap/companyprofile01.aspx?lang=en and search by company name. Confirm the licence status and type. For derivatives permissions specifically, confirm the firm also holds a ส-1 derivatives brokerage licence. Do not rely on broker websites or third-party directories alone.
What happens if my SEC Thailand-regulated broker goes bankrupt?
If your broker is a member of the Securities Investor Protection Fund (SIPF), you are covered up to THB 1 million per investor per broker for securities accounts (SET SIPF). For derivatives accounts, the Derivatives Investor Protection Fund (DIPF) covers up to THB 1 million per investor per event (TFEX DIPF). Protection is automatic — no registration needed. Losses from trading are not covered.
Is SEC Thailand a Tier 1 regulator?
SEC Thailand is generally considered a Tier 2 regulator, comparable to MAS (Singapore) in its structural oversight but with a narrower scope focused on domestic capital markets rather than international retail forex. It has less recognition globally than Tier 1 regulators (FCA, ASIC, CySEC) and does not require negative balance protection. Its SIPF compensation cap of THB 1 million (~$28,000 USD) is also lower than the FCA's £85,000 FSCS limit.
What leverage limits apply with SEC Thailand brokers?
Retail clients trading forex through SEC Thailand-licensed securities companies are subject to a maximum of 1:50 leverage on major currency pairs and 1:20 on minor and exotic pairs. The SEC reviewed these limits in 2026 and has signalled possible further reductions. Professional clients may access different terms subject to suitability assessments.
Can non-Thai residents use SEC Thailand regulated brokers?
Most SEC Thailand-licensed securities companies are domestic Thai firms that primarily serve Thai nationals and residents. Access for non-residents depends on each firm's client onboarding policies, the relevant anti-money laundering regulations, and any bilateral agreements. Non-residents seeking regulated forex access in Southeast Asia will generally find the MAS (Singapore) framework more internationally accessible.
What is the difference between SEC Thailand and BOT regulation for forex?
The SEC Thailand supervises securities companies, derivatives brokers, investment managers, and related intermediaries. The Bank of Thailand (BOT) regulates the broader foreign exchange market — commercial banks, money changers, licensed FX brokers, and FX e-money operators. For most retail traders, the SEC is the relevant regulator if using a securities company for forex derivatives. BOT regulation applies to banks and licensed FX brokers operating under the Ministry of Finance.
Related Resources
For comparison with other regulated environments:
- FCA Regulated Forex Brokers — £85,000 FSCS protection, 1:30 retail leverage
- MAS Regulated Forex Brokers — Singapore's regional framework
- ASIC Regulated Forex Brokers — Australian regulation, 1:30 leverage
- BaFin Regulated Forex Brokers — German regulatory standards
Official resources:
- SEC Thailand Official Website
- SEC Thailand Licensee Registry
- SIPF Investor Protection
- DIPF Derivatives Protection
- SEC Thailand Enforcement Actions
- Bank of Thailand FX Regulation
Verified by WiBestBroker research team. All licence data sourced from the SEC Thailand public register as of 17 March 2026. Broker information is subject to change — always confirm current status directly on the official registry.