Offshore online forex broker OctaFX said on Monday it has added an option for bank deposits and withdrawals in Thailand. The broker has added six Thai banks to its payment methods.
OctaFX’s clients can fund their accounts or make withdrawals via Thai banks Kasikorn Bank (KBank), Siam Commercial Bank (SCB), Bangkok Bank (BBL), Krung Thai Bank (KTB), Krungsri Bank, and TMB Bank.
OctaFX uses the exchange rates of the Bank of Thailand. The minimum deposit amount the broker accepts for opening accounts is $5. No fees are charged.
The deposit process requires a few fast steps:
- Open a real OctaFX account
- Log in to your Personal Area
- Choose the suitable Thai bank from the list
- Make a transfer of funds to OctaFX bank account using the given OctaFX account details
- Press the “Notice after transfer” button and follow the given instructions
- Press the “Request” button
- Wait until your request is processed, and then it’s done, your account is credited
In addition, traders with OctaFX can deposit and withdraw payments using a number of other banks – Pakistan’s United Bank and Soneri Bank, UK’s Standard Chartered, Malaysia‘s Maybank and CIMB, Indonesia’s Bank Central Asia (BCA), Bank Mandiri, and Bank Negara Indonesia (BNI), as well as China’s UnionPay.
E-payment solutions are also available – both deposit and withdrawals are possible via Neteller, Skrill, and FasaPay. Deposits can also be made using Visa and MasterCard bank cards.
Other forex brokers that work with Thai banks include FXCL Markets and Forex4you.
OctaFX was set up in 2011. It is registered and licensed in Saint Vincent and the Grenadines, an offshore destination for forex brokers. It offers Micro, ECN and Swap-free trading accounts to clients of more than 100 countries worldwide via the trading platforms MetaTrader 4 (MT4) and cTrader, both for desktop and mobile devices. Traders can choose between a number of currency pairs and trading instruments and can follow up-to-date market news and market research.