Best forex brokers in Taiwan

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Taiwan has the 22nd largest economy in the world and ranks 19th in the list of most rapidly developing financial markets, published in the 2017-2018 Global Competitiveness Report of The World Economic Forum.

The financial markets in Taiwan (including the Taiwan Stock Exchange and the Taiwan Futures Exchange), are supervised by the Securities and Futures Bureau (SFB), which is an agency of the local Financial Supervisory Commission – an independent regulatory authority also overseeing the banking and the insurance sector.

SFB regulates all securities issuance, securities trading and futures trading and ensures the protection of all investors. The Bureau also has the power to act against stock market participants in relation to illegal activities.

The over the counter forex market in the country however, is not specifically regulated, so traders can freely choose to open an account with a broker, regulated by a well respected financial authority such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

For payments you can use cards like MasterCard and Europay, as well as money orders through vendors such as Chunghwa Post, Western Union and MoneyGram.

Just have in mind that a declaration statement is required if a transaction involve more than 500 000 Taiwanese Dollars, or roughly 16 000 USD.