ASEAN (Association of Southeast Asian Nations) member Cambodia is an emerging growth market for Forex brokers.
With a population exceeding 16.5 million and tourism being a core pillar of its high-growth economy, Forex transactions are commonplace across Cambodia. Do you trade with the most competitive Cambodian Forex brokers? We look at the options available in our Forex trading in Cambodia review below.
- FP Markets, ECN trading with leverage up to 1:500.
- Eightcap, 1:500 maximum leverage and cutting-edge trading tools.
- Octa, A commission-free broker with a proprietary copy trading service.
- XM, Exception range of assets + negative balance protection.
- BlackBull Markets, 1:500 maximum leverage with ultra-low trading fees and deep liquidity.
Best Cambodia Brokers Comparison
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Regulators | ASIC, CMA, CySEC, FSCA | ASIC, CySEC, FCA, SCB | CySEC, FSCA, MWALI International Services Authority | ASIC, CySEC, DFSA, FSC Belize | FMA, FSA |
Year Established | 2005 | 2009 | 2011 | 2009 | 2014 |
Execution Type(s) | ECN/STP | ECN/STP, Market Maker | Market Maker | Market Maker | ECN/STP, No Dealing Desk |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 1.2 pips | 1.0 pips | 0.9 pips | 0.1 pips | 1.3 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.2 pips | 1.3 pips | 0.2 pips | 2.0 pips |
Average Trading Cost Gold | $0.16 | $0.12 | $0.30 | $0.19 | $0.90 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Trading View |
Islamic Account | |||||
Negative Balance Protection | N/A | ||||
| Visit Website | Visit Website | Visit Website | Visit Website | Visit Website |
FP Markets
In Summary ECN trading with leverage up to 1:500fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.
Pros & Cons
- Choice of trading platforms and auxiliary trading tools
- Very competitive cost structure and excellent asset selection
- Low minimum deposit requirement and leverage of up to 1:500
- Well-regulated and trustworthy
- Availability of Iress geographically restricted
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsEightcap is an outstanding choice for Cambodian-resident traders who seek cutting-edge trading solutions. MT4 traders benefit from Capitalise AI, which allows algorithmic trading in a code-free environment. MT5 traders get the FlashTrader plugin and cryptocurrency traders Crypto Crusher. The AI-powered economic calendar offers news traders an edge, and algorithmic traders get VPS hosting for low-latency 24/5 Forex trading. Therefore, Eightcap ranks amongst the most competitive brokers on our Forex trading Cambodia list.
Copy traders can use the embedded MT4/MT5 services, while Eightcap connects social traders to the active TradingView community with 50M+ traders, and Eightcap Labs caters to beginners.
Pros & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
Octa
In Summary A commission-free broker with a proprietary copy trading serviceOcta , featuring 21M+ opened accounts, is attractive as a broker due to its proprietary copy trading service, for which it developed a user-friendly mobile trading app. Traders also benefit from a competitive commission-free cost structure and swap-free trading for all traders, making Octa one of the cheapest Forex brokers on our Forex trading in Cambodia list. Octa offers traders a choice between the popular MT4/MT5 trading platforms and upgrades the functionality with the Autochartist plugin, which requires traders to unlock via the Status Program.
Cambodian-resident traders get a 50% deposit bonus, and Octa ranks among the brokers with the highest overall bonus fund payouts, exceeding $31M, as they are withdrawable.
Pros & Cons
- Quick withdrawals and deposits
- 0% commission and no overnight charges
- Space with personalised trading ideas
- Customer Support 24/7
- Mobile copy trading services available only for Android
XM
In Summary Exception range of assets + negative balance protectionXM landed on our Forex trading in Cambodia list due to its recent introduction of ultra-low accounts, which offer swap-free trading on select assets. It complements the overall competitiveness XM delivers in its well-regulated trading environment. XM also presents quality education and research for beginners. Traders also get six custom indicators for MT4/MT5, and the MT4 Multiterminal caters to traditional asset management services.
The XM loyalty program rewards active traders, and XM has generous trading bonuses. With a $5 minimum deposit, XM ensures it is accessible to all traders, and its commission-free trading fees rank among the most competitive industry-wide.
Pros & Cons
- Outstanding trading tools and loyalty program
- Low minimum deposit, high leverage*, and competitive trading cost
- Excellent research and education
- Trustworthy and transparent with generous bonuses and incentives
- Inactivity fee
BlackBull Markets
In Summary 1:500 maximum leverage with ultra-low trading fees and deep liquidityBlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.
Pros & Cons
- ECN/NDD execution model with deep liquidity
- Institution-grade pricing for retail traders via proprietary price aggregation
- ZuluTrade and Myfxbook for social trading
- Leverage of up to 1:500
- Limited deposit options
Forex Trading in Cambodia
Our Forex trading in Cambodia review uncovered several trends and confirmed that Cambodia presents a growth opportunity for offshore Forex brokers.
Here are the core facts:
- Only 25% of Cambodians live in urban centers.
- Internet connectivity rates are just above 50%
- Mobile penetration is close to 100%
- Social media usage is 70%+
- Copy and social trading are the most popular Cambodian Forex trading strategies.
Forex Regulations in Cambodia
The regulator of the Cambodian financial sector, including the Forex market, is the Securities and Exchange Regulator of Cambodia (SERC). Its principles follow those of more mature market regulators, but Cambodia has few domestic Forex brokers, and the 15 local banks and 30 overseas banks handle the bulk of Forex transactions.
The National Bank of Cambodia (NBC), which has 22 branches, manages monetary and exchange policies, regulates banks and financial institutions, and controls the national currency, the Cambodian Riel KHR.
While Cambodia modernized its financial system, many unregulated Forex brokers remain, posing a capital risk and promoting scams. The problem is made worse by the lack of education concerning finance, especially Forex trading. The brokers from our Forex trading in Cambodia review comply with their regulators and provide educational content to help beginners start with Forex trading in Cambodia.
Choosing the Right Forex Broker in Cambodia
Traders have various requirements based on their strategies, but all competitive Forex brokers share core attributes, as listed in our Forex trading in Cambodia checklist.
Ensure your Forex broker in Cambodia features:
- Low trading fees
- Low minimum deposits
- Copy and (or) social trading.
- Unlimited, customizable demo accounts
- A clean regulatory track record spanning 10+ years
- A choice of low-cost payment processors
How to Start Trading Forex in Cambodia
Mastering trading psychology is a critical aspect that separates profitable traders from those who struggle. It involves learning to manage emotions such as fear and greed, maintaining discipline, and effectively dealing with losses. Traders must navigate through various market conditions while sticking to their trading plan. Developing emotional control, practicing risk management, being patient and disciplined, learning from mistakes, adapting to market changes, and utilizing psychological tools are essential elements in achieving trading success. However, it's important to recognize that mastering trading psychology is a gradual process that requires an investment of time and a commitment to personal growth.
Here are additional tips for your Forex trading journey:
- Learn how to trade in micro accounts.
- Use a Forex strategy that suits your personality.
- Evaluate copy trading signal providers in demo accounts for several months.
- Deploy appropriate risk management.
- Allow your trading plan to develop for a few months before adjusting it.
- Keep a trading journal to help you shorten your learning curve.
- Have realistic profit expectations and avoid weekly or monthly targets.
- Trade what opportunities the Forex market gives you and don’t try to force trades you have low conviction in
- Develop a deposit plan consisting of smaller monthly deposits.
- Increase your mental strength via regular workouts and a healthy diet.
- Trade from a quiet, clean location
Forex Trading Platforms in Cambodia
With close to 100% mobile penetration in Cambodia, most traders require user-friendly mobile apps that offer support for copy trading, which is one of the most popular Forex trading strategies. All brokers from our Forex trading in Cambodia list offer the MT4 mobile app, and MT4 has an embedded copy trading service. Most also have proprietary mobile apps that provide a better user experience and integrated copy trading services.
Cambodian Forex traders with algorithmic trading solutions or EAs will benefit from the versatile MT4 desktop software version, which remains the leading Forex trading platform globally. Alternatives consist of MT5 and cTrader.
Forex Payment Methods in Cambodia
All Forex brokers offer bank wires and credit/debit card deposits, which allow Cambodian Forex traders to make deposits in their local currency, the Cambodian Riel. They should factor in possible currency conversion fees, as international Forex brokers do not offer the Cambodian Riel as an account base currency.
Many consumers prefer online payment processors in Cambodia, where ASEAN banks enjoy a dominant position. Most Forex brokers do not offer these as options, given the costs associated with implementing them when considering the potential transaction volumes and profit potential. Skrill emerged as a viable choice, followed by PayPal for Cambodians with a foreign bank account. Therefore, our Forex trading Cambodia review determined that cryptocurrencies could fill this void for many Cambodian Forex traders especially since roughly 75% reside in rural areas.
Risks of Forex Trading in Cambodia
Forex trader’s resident in Cambodia face identical risks as traders from well-established markets, as the basic nature of the decentralized Forex market does not change based on the geographic location of traders.
Our Forex trading in Cambodia review revealed the following primary risks to Forex traders in Cambodia:
- Failure to dedicate sufficient time to in-depth education before funding live Forex accounts.
- Unlicensed brokers, fraud, and trading frauds
- Unrealistic profit expectations
- Insufficient trading capital
Bottom Line
Cambodia is an emerging Forex market with excellent growth potential, as confirmed by our Forex trading Cambodia analysis. Mobile trading remains the favored method to access the Forex market, with copy trading the preferred strategy, followed by social trading.
The lack of adequate education is the dominant issue, which results in some Cambodian Forex traders falling victim to scams, and the Cambodian market attracts many unlicensed domestic brokers. Therefore, Forex traders in Cambodia should steer towards well-regulated offshore brokers to give themselves the best chance of success.
