Best Vietnam Brokers Guide
Updated August 22, 2021
Vietnam Financial Markets
When talking about Vietnam brokers, We must understand the financial market of the country and thelimitations. Ho Chi Minh City Stock Exchange (HSX or HoSE) is the primary stock market in Vietnam and theState Bank of Vietnam (SBV) is the regulatory body.
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Online Forex trading is not strictly legal in Vietnam and so Vietnam brokers will be in difficult positionscompared to brokers in other Asian countries in offering this service.
If we take a look at the ruling of SBV, it is found that no Forex brokers are registered in the country.However, the rules and norms are not applied to international brokers offering Vietnamese people financialmarket trading services.
Most Vietnamese traders look for foreign brokers to trade in the country”s financial markets.
Trading in Vietnam
It is suggested to trade with international brokers in Vietnam rather than local brokerages. Manyoverseas brokers maintain their websites in local languages including Vietnamese and Tieng Viet to findclients from Vietnam.
Before finalizing a deal with with Vietnam brokers, it is suggested to check whether they are wellregulated in their countries. Moreover, they follow the strict practice of keeping your funds segregated.
If you are new to trading in Vietnam we recommend opening multiple demo accounts with multiple brokers.This will allow you to test out the various broker platforms and gain experience without risking real funds.Vietnam demo account comes with virtual currencies and it is the best way to learn and experience theVietnamese financial markets.
Do note that some Vietnam brokers and foreign brokers offer Islamic trading accounts that come underthe Sharia law. The service is mostly for Muslim traders and such an account has neither swaps norrollovers.
Vietnam Trading Opportunities
Vietnam is relatively a small country with a population of just 97.4 million. About one-third of the peoplelive in urban settings. Department for International Trade (DIT) ranks the country in the top 20 High GrowthMarkets and it is believed to be included in the top 10 list of fastest-growing economies in the worldsoon.
Retailing is being liberalized in Vietnam to attract foreign investment and it has high internet penetration.The country is a member of ASEAN.
Vietnam Trading Challenges
United States, Japan, China and South Korea are the nearest trading partners of Vietnam. The UnitedKingdom is not in the top 5 and so there is no fear of any negative impact on its economy amid Brexit and theexit of Britain from the European Union.
However, trade wars, trade tariffs or failure of trade agreements among the top 5 closest tradingpartners, may directly make the Vietnamese economy suffer.
The Vietnamese economy is vulnerable to trade disruptions as it has more than a 100 percent ratio oftrade to GDP.
In terms of ease of doing business, the World Bank has ranked the country 69th. For resolvinginsolvencies Vietnam is ranked 133rd. The business environment is average but starting a business is noteasy here. It is positioned at 89th in protecting minority investors.
Vietnam Brokers Verdict
Vietnam brokers face strict legalities and so it is strongly recommended to deal with internationalregulated brokers that offer trading to Vietnam traders. If you want to trade in Stocks, Forex or CFDs inVietnam we list some reputable brokers further down this guide. Try to find a trustworthy broker for yourtrading needs and verify whether they are well regulated and maintain segregation of funds.
We”ve collected thousands of datapoints and written a guide to help you find the best Vietnam Brokers for you. We hope this guide helps you find a reputable broker that matches what you need.We list the what we think are the best vietnam brokers below.
Trading in Vietnam
When trading in Vietnam you will need to know what your options with yourVietnam trading broker are.
We list below the trading account types available in Vietnam.If you are looking for brokers in Vietnam that are suitable for trading in the Forex,CFD”s, Indices and ETFs, Cryptocurrencies (availability subject to regulation) or commodity markets; this Vietnam broker guidewill explain the things you should check and be aware of before you invest.
Forex Trading in Vietnam
Forex trading is growing in popularity in Vietnam. The volume of Forex traded inVietnam has increased year on year over the last five years.
Across the world $5.1 trillion USD in volume is traded every single day. This is a huge amount in comparison with other financial market sectors.
Advances in online technology, higher internet coverage in Vietnamand increased competition among brokerages have made Forex trading more accessible and reduced the costs of trading generally.
Is Forex Trading Legal in Vietnam?
Their is a misconception that trading Forex on the financial market in Vietnam is considered unsafe.This is not the case, Forex trading in Vietnam is very active.
Trading in Forex is allowed in Vietnam as to conduct business currency must be exchanged.Forex is an integral part of import and export and investing internationally. The important thing is that when trading Forex you pick a safe and reputable broker that is regulated.Vietnam Forex trading is not banned, their are many international online brokers offering favourable trading conditions.
Do Forex Traders Pay Tax in Vietnam?
Once a traders profits reach a level where the income on the Forex trading can be taxed inVietnam the trader should make sure all taxes owed for a financial year are paid.Vietnam taxes should be filed even if there were losses on the year.If Trading losses cannot be claimed against personal income taxes.A trader should file them with the proper government agency in Vietnam.You should seek advice with a Vietnam tax professional to ensure they are abiding byall proper tax laws in Vietnam.In Vietnam Islamic accounts do not have additional restrictions on trades.
Cryptocurrencies in Vietnam
Cryptocurrency markets in Vietnam are relatively new and their availability are subject to local financial regulation.Because Cryptocurrency works on decentralised assets inVietnam things like interest rate changes andpolitical instability do not affect cryptocurrencies as much as the currency markets in Vietnamfor example.
Due to a large young population in Vietnamwith growing income levels and wide spread adaptation of online technology cryptocurrency trading volume is increasing greatly inVietnam.$6 billion USD worth of Bitcoin is traded daily around the world.
Commodity Trading in Vietnam
In Vietnam commodity trading includes the trade in precious metals,energies and agricultural commodities.
Some commodities like metals are seeing exponential growth in Vietnam since 2002.
Fast growing countries like China and India have been growing rapidly over the last 3 decades. This has meant that countries like China and India have a vast requirementfor many basic commodities and raw materials for their populations. Crops to feed people and metal to build infrastructure for example.This means countries like Vietnam are able to take advantage of this demand.
We list brokers that allow you to trade commodities in Vietnam here.
Islamic Accounts in Vietnam
Vietnam brokers support Islamic accounts or swap-free accounts.Vietnam Islamic accounts have no rollover interest on overnight positions tocomply the Muslim faith. Traders of Islamic faith are forbidden to pay interest.Brokers in Vietnam offer accounts that are suitable for Islamic traders.These Vietnam brokers complies with Sharia law.
Benefits of Trading in Vietnam
Vietnam economy and population is growing.The middle class population in Vietnam is increasing which means a growing consumer base.Many business and financial opportunities exist in Vietnam.Vietnam has a young population educated in technology and the internet.
Concerns of Trading in Vietnam
Vietnam digitisation of financial trading has made it easier to defraudunsuspecting investors across the internet. Make sure the broker you trade with is regulated and passes the checklist in thisVietnam guide.Educate yourself as much as possible open a demo account if necessary be you open a live trading account.
Learn about leverage when trading. VietnamBrokers offering high leverage trades in Vietnam can mean high profit margins. But this goes both was it can also mean huge losses.There are things like negative balance protection and stop loss accounts which some Vietnam brokers offer as a level of protection.you can learn more about further below on this guide.
Reputable Vietnam Brokers Checklist
There are a number of important factors to consider when picking an online Vietnam trading brokerage.
Check your Vietnam broker has a history of at least 2 years.Check your Vietnam broker has a reasonable sized customer support of at least 15.Does the Vietnam broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.Check your Vietnam broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.Does your Vietnam broker have an international presence in multiple countries. This includes local seminar presentations and training.Make sure your Vietnam can hire people from various locations in the world who can better communicate in your local language.
It is not essential that your brokerage is local but they must have regulation from a Tier 1 reputable country. In fact the brokers international regulation could be more reputable than your local region.
When deciding to trade and find a suitable Vietnam broker if you wish your broker to be 100% local check they are governed and regulated by the below.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering Vietnam Brokers.
We compare these features to make it easier for you to make a more informed choice.
Minimum deposit to open an account.Available funding methods for the below Vietnam Brokers.What you are able to trade with each brokerage.Trading Platforms offered by these brokers.Spread type (if applicable) for each brokerage.Customer support levels offered.We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.
Top 15 Vietnam Brokers of 2021 compared
Here are the top Vietnam Brokers (VN).
Compare Vietnam Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
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All brokers below are vietnam brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more vietnam brokers that accept vietnam clients