How to choose a foreign exchange platform in Taiwan? Comprehensive evaluation guide for mainstream traders in 2025

Deciding to enter Forex trading, choosing the right platform is crucial. Different Forex platforms vary greatly in regulatory background, trading costs, leverage settings, and liquidity, directly affecting your trading experience and fund safety. This article will provide an in-depth analysis of seven active Forex brokers in the Taiwan market to help you make the best choice based on your needs.

Disclaimer: The following seven platforms are for reference only; there are other quality options in the market. All information is compiled in this article. Readers are advised to verify the latest rules on each platform’s official website, as platform terms may change. Please refer to official real-time announcements for trading details.

Quick Reference Table of Core Indicators for Seven Major Forex Platforms

In-Depth Analysis of Local Regulated Platforms in Taiwan

Yuanta Futures: A Local Pioneer

As one of the first futures brokers licensed for leverage trading in Taiwan in 2017, Yuanta Futures has a natural trust advantage. The platform is based on MetaTrader 5, offering trading on 35 Forex currency pairs.

Key Advantages:

• Regulated by Taiwan FSB, ensuring fund safety
• Enjoy 0 spread on Forex, metals, and crude oil
• Minimum trading size of 0.01 lot, highly flexible
• No overnight fee, reducing holding costs

Points to Note:

• International indices and stocks incur 0.01% and 0.1% commission respectively
• No strict account opening requirements, but margin considerations apply
• Does not support direct NTD deposits or withdrawals

Suitable for: Investors preferring local platforms, mainly trading Forex and commodities.

KGI Leverage Broker: Dual Regulation in Taiwan

As a platform regulated by both Taiwan FSC and the Central Bank, KGI offers 12 Forex pairs via the Nano Trading King platform.

Key Advantages:

• Dual local regulation, strict risk control
• Transparent floating spreads and overnight fees
• Supports free withdrawals via multiple Taiwanese banks (Cathay United, Taishin, CCB)

Cost Considerations:

• Higher fees for overseas indices (0.01%-0.5%)
• Some products have minimum fees of $5 USD
• Limited Forex pairs (12 options)

Suitable for: Traders valuing local regulation and convenient withdrawals.

Far Eastern Commercial Bank Forex: A Conservative Traditional Bank Choice

As the Forex trading department of Taiwan’s Far Eastern Bank, it offers a more conservative trading environment with higher account opening thresholds.

Key Advantages:

• Bank-backed security
• Fixed 20x leverage, predictable risk

Trading Limitations:

• Minimum opening deposit of $10,000 USD, 2-3 times higher than international platforms
• Limited Forex pairs (15)
• Spreads adjusted according to market conditions

Suitable for: Investors with ample funds seeking bank-level security and less emphasis on trading convenience.

Comparative Analysis of International Regulated Platforms

Mitrade: Beginner-Friendly All-Round Platform

Founded in Australia, Mitrade won the Best Forex Broker in Asia 2022 and Best Mobile Trading Platform in Asia 2023. Its proprietary platform is known for simplicity and ease of use.

Core Strengths:

• Very low account opening threshold ($50 USD), ideal for small-scale testing
• 59+ Forex pairs + multi-asset trading, rich options
• Supports NTD deposits and withdrawals, localized service
• 24/5 Chinese customer support
• Negative balance protection (losses won’t exceed deposits)
• Flexible leverage (1x-200x), suitable for various risk profiles

Cost Structure:

• No commissions, floating spreads
• Minimum trade size of 0.01 lot

User Experience:

• User-friendly interface for beginners
• Fully online account opening, funding, and trading

Special Feature: New users receive $50,000 demo funds upon registration for risk-free familiarization.

Suitable for: Forex beginners, small investors, Taiwan traders seeking localized service.

IG: A Long-Established Global Broker

Founded in London in 1974, IG is one of the oldest Forex brokers, also a FTSE 250 constituent. The platform covers 17 countries, offering access to over 3,000 financial markets.

Platform Advantages:

• Regulated by ASIC, strong international credibility
• Over 100 Forex pairs, comprehensive asset coverage
• Up to 200x leverage
• Proprietary platform + mobile app with powerful features

Cost Aspects:

• Floating spreads from 0.6 points
• Competitive spreads on major currency pairs
• Additional costs for overnight financing, guaranteed stop premiums
• Inactive account fee of AUD 18/month after 2 years of no trading

Withdrawal Limits:

• Bank transfer withdrawals incur $15 USD fee
• Minimum withdrawal amounts vary by currency

Suitable for: Professional traders valuing platform reputation and comprehensive asset coverage.

IC Markets: ECN Expert with Ultra-High Leverage

Founded in Sydney in 2007, IC Markets is an ECN Forex platform with over 15 years of experience.

Distinctive Features:

• Up to 1000x leverage (extreme risk/reward)
• ECN model, no dealing desk, no counterparty risk
• 61+ Forex pairs + multi-asset trading
• Floating spreads with low commissions

Cost Considerations:

• Minimum deposit of $200 USD
• Possible commissions depending on account type
• Overnight interest costs to evaluate

Suitable for: Traders seeking ultra-high leverage, familiar with ECN mechanisms, professional and aggressive.

CMC Markets: Multi-Regulated Enterprise-Level Platform

Listed on the London Stock Exchange, regulated by FCA, ASIC, FMA, etc., offering over 12,000 CFD products globally.

Platform Features:

• Multiple regulatory backgrounds, strong global compliance
• Customizable platform with rich features
• Up to 500x leverage
• Wide range of assets: stocks, Forex, indices, bonds

Cost Structure:

• Spreads vary by currency pair; AUD/USD from 0.7 points, GBP/USD from 0.9 points
• Includes commissions and holding costs
• Inactive account fee of $15 USD/month after 1 year
• Only supports bank wire deposits

Suitable for: Institutional clients, multi-asset portfolios, seeking strong global regulation.

Key Decision Dimensions When Choosing a Forex Platform

When evaluating and selecting a Forex platform, consider these six aspects as your decision framework:

1. Overall Trading Costs

Cost structures vary greatly. Beyond spreads and commissions, watch for hidden costs like overnight fees, inactivity fees, withdrawal charges. Calculate expected trading frequency and holding periods, and incorporate these into the total cost per trade.

2. Asset Diversity Needs

Ensure the platform covers your desired trading instruments. Forex pair count, stock coverage, crypto options differ. Beginners can start with mainstream pairs (EUR/USD, GBP/USD, USD/JPY); advanced traders may need more niche pairs or alternative assets.

3. Trading Platform & Tools

Ease of use impacts trading efficiency. MetaTrader 5, cTrader, proprietary platforms each have advantages. Test mobile app stability. Use demo accounts to fully experience the platform.

4. Deposit & Withdrawal Flexibility

Check supported methods, speed, fees, minimum amounts. For Taiwan traders, support for direct NTD transfers, bank card options are especially important.

5. Fund Security

Verify the platform’s regulation status. Local Taiwan regulation, ASIC, FCA offer different levels of protection. Understand if the platform has negative balance protection, segregated funds, etc.

6. Customer Support & Responsiveness

Timely support is critical when issues arise. Availability of Chinese support, support hours, problem resolution efficiency are key indicators.

How Forex Platforms Operate

Market Maker (Dealing Desk, DD)

These platforms act as counterparties to traders, profiting from fixed bid-ask spreads. When you place an order, the platform may not send it to the market but execute within its internal liquidity pool. Trust in the platform is essential. Local platforms like Yuanta Futures and KGI often operate this way.

Advantages: Fast order execution, relatively stable spreads. Risks: Conflict of interest between platform and trader; choose reputable licensed brokers.

No Dealing Desk (NDD)

Further divided into STP and ECN. NDD platforms send orders directly to liquidity providers or the market, providing real-time quotes from global banks, often with lower spreads. IC Markets uses ECN; IG also offers this.

Advantages: Low, transparent spreads; no counterparty risk. Cost: Usually compensated via commissions.

Example: Mitrade Account Opening Process

Step 1: Register and Verify

Fill in basic info on the website and submit. Provide ID and address proof for KYC. Verification typically completes within 24 hours.

Step 2: Deposit Funds

Deposit via Skrill, Poli, Visa, Mastercard, international wire transfer. Supports NTD deposits; transfer speed depends on method. Minimum $50 USD to start trading.

Step 3: Execute Trades

Log in, select assets (Forex, stocks, indices, crypto), set position size, stop-loss, take-profit, and place orders. Real-time quotes, technical analysis tools, economic calendar available.

Why Choosing a Regulated Forex Platform Is Critical

Authorized platforms must adhere to strict operational standards involving fund segregation, risk management, and transparency. Licensed platforms allow traders to file complaints with regulators and have dispute resolution mechanisms. Unregulated platforms pose risks of unresolved disputes and potential fund loss.

Choosing a regulated platform is the first step to protecting your funds.

How to Verify a Forex Platform’s Regulation Status

Every authorized Forex platform holds a unique license number. Reputable platforms display regulation info clearly on their website, including regulator name, license number, and official links.

Verification Steps:

1. Visit the platform’s “About Us” or “Regulation” section
2. Note the claimed regulator and license number
3. Visit the regulator’s official license verification system
4. Enter the license number to verify authenticity

For example, Mitrade lists CIMA authorization and SIB license on its site; traders can verify directly on the Cayman Islands Monetary Authority website.

Risk Tip: If a platform cannot provide clear regulation info or refuses to answer regulation-related questions, consider it high risk.

Common Questions Clarified

What is the profit source of Forex platforms?

Market Maker Profit Logic: Profits come from reverse betting against traders’ orders. If traders lose, the platform gains; if traders win, the platform loses. Although seemingly opposite, a significant proportion of traders lose, and the platform’s long-term statistical profit remains positive.

NDD Platform Profit Logic: Profits from spreads and commissions. The platform slightly marks up prices from liquidity providers or charges direct commissions. The platform’s profit is neutral to traders’ gains/losses, focusing on trading volume and frequency.

Hybrid Mode: Most large platforms adopt a mixed approach, adjusting based on trader type and asset class.

Is higher leverage always better?

High leverage amplifies potential profits but also magnifies losses. Beginners should start with 10x-20x and adjust gradually based on risk tolerance. Leverage over 100x is suitable only for experienced traders with strict risk controls.

Are floating spreads better than fixed spreads?

Floating spreads are narrower in calm markets but can widen significantly during volatility. Fixed spreads offer predictable costs but may be higher in base. Short-term traders prefer low floating spreads; medium-long term traders may prioritize the certainty of fixed spreads.

Conclusion

Choosing the right Forex platform involves balancing safety, costs, asset coverage, and usability. Taiwanese traders should prioritize local regulated platforms (Yuanta Futures, KGI) for familiar regulation and convenient deposits/withdrawals; international platforms (Mitrade, IG) for broader assets and tools. It’s recommended to open demo accounts first to experience the platform fully, then select a real account based on actual needs. Remember, there is no absolute “best” platform—only the one that best fits your trading goals and risk preferences.