How to Choose the 2025 Taiwan Forex Brokers? 7 Major Platform Comparison Guide

Before starting forex trading, the most crucial step is choosing a reliable broker. With so many brokers in the market, what should you look for? Fees, leverage, regulation, deposits and withdrawals… each one is very important. This article helps you clarify these points, breaking down 7 regulated forex brokers in Taiwan one by one, so you can quickly find the trading partner that best suits you.

3 Key Questions to Understand Before Choosing a Forex Broker

1. Dealing Desk vs. No Dealing Desk

Forex brokers are divided into two types: Market Makers (DD) and No Dealing Desk (NDD).

Market Makers act as your counterparty; your orders are not sent directly to the market but stay within the broker. These brokers profit from the spread and reverse bets against traders’ orders—if you make money, they lose, and vice versa. The advantage is fast order execution; the downside is the need to trust the broker’s fairness.

No Dealing Desk brokers connect your orders directly to the market or liquidity providers, showing real-time quotes from global banks. They profit from spreads and commissions, earning transaction fees regardless of whether clients profit or lose, thus encouraging frequent trading.

2. Regulatory Authority Ensures Your Funds’ Safety

Authorized brokers regulated by authoritative agencies must adhere to strict operational standards. In case of disputes, you can file complaints with the regulator. Common regulatory bodies include Taiwan’s FSC, Australia’s ASIC, the UK’s FCA, etc. Always verify the broker’s license authenticity—this is the first line of defense for your funds.

3. Spreads, Commissions, Hidden Fees—Nothing Should Be Overlooked

Besides obvious trading costs, pay attention to withdrawal fees, account inactivity fees, overnight interest, etc. Some platforms advertise “zero commissions,” but may have wide spreads, making actual trading costs higher.

Detailed Comparison Table of 7 Forex Brokers

Choose According to Your Needs: Best Setup for Different Traders

Beginner Traders → Mitrade

• Reason: Self-developed platform, simple operation, Chinese customer service 24/7, supports TWD deposits/withdrawals, start trading with just $50 USD, negative balance protection reduces risk.
• Feature: New users get $50,000 demo funds to practice.

Funds Abundant & Cost-Conscious → IC Markets

• Reason: ECN model, lowest and transparent spreads, leverage up to 1000x, suitable for technical traders.
• Note: Requires higher initial capital($200 USD), manage risk yourself.

Want to Use Taiwan Banks → Yuanta Futures or KGI Leverage Trader

• Reason: Regulated in Taiwan, high trust, quick deposits/withdrawals via domestic banks.
• Drawback: Limited trading products.

Large Asset Scale & Extreme Leverage → IC Markets

• Reason: Up to 1000x leverage, suitable for aggressive traders.

Seeking Historical Credibility & Global Recognition → IG or CMC Markets

• Reason: Both listed on London Stock Exchange or are LSE-listed companies, with offices in over 17 countries, multiple licenses, and powerful platform features.
• Note: Cost structure is relatively complex; read carefully.

Pitfalls of Forex Broker Rankings

The market is flooded with “Best Forex Broker Rankings,” but you should know:

• Inconsistent Criteria: Some focus on regulation, some on low costs, some on user reviews; the same platform can rank very differently.
• Advertising Bias: Some “rankings” are actually promotional articles driven by interests.
• Individual Suitability: The best broker isn’t necessarily the top-ranked but the one that fits your trading style and capital.

Instead of blindly following rankings, compare with the above table based on your needs.

How to Verify if a Forex Broker is Truly Regulated

Don’t be fooled by “claimed regulation.” Verify actively:

1. Check License Number: Every regulated broker has a unique financial license ID; verify on the regulator’s official website.
2. Confirm Regulator: Search whether the regulator’s records include this company.
3. Display Location: Legitimate platforms display regulation info prominently on their website; avoid hidden info.
4. Contact the Broker: Ask customer service “Who is your regulator, and what is your license number?” A compliant company will answer immediately; be cautious if vague.

3 Steps to Open an Account in 5 Minutes

Taking Mitrade as an example, the process is very simple:

Step 1: Submit Application Fill in basic info (name, email, phone, country) on the website, then verify identity.

Step 2: Deposit Funds Supports Visa, Mastercard, wire transfer, Skrill, Poli, etc. TWD customers can deposit directly.

Step 3: Start Trading Once funds arrive, trade popular instruments like EUR/USD, gold, oil, cryptocurrencies, global stock indices immediately.

Other platforms have similar processes, usually completed within 10 minutes.

3 Common Mistakes When Choosing

Mistake 1: Only Look at Leverage Higher leverage means higher risk. Beginners should choose 1x~50x. High leverage like 1000x at IC Markets is not suitable for most and can lead to margin calls.

Mistake 2: Being Deceived by Low Spreads Some platforms claim “0 spread,” but actual spreads widen during trading or costs are compensated elsewhere. Focus on total trading costs, not just one indicator.

Mistake 3: Ignoring Fund Safety Low fees but poor regulation can lead to unrecoverable funds if something goes wrong. Better to pay a bit more for a regulated platform—safety first.

Quick Decision Tree

1-minute Quick Picks:

• Are you a beginner wanting practice? → Mitrade
• Budget less than $50 USD? → Mitrade
• Need TWD deposits/withdrawals? → Mitrade
• Large capital & want ultra-low spreads? → IC Markets
• Only trust Taiwanese regulation? → Yuanta Futures or KGI
• Want a globally recognized big platform? → IG or CMC Markets

Key Reminders

Choosing a broker is just the first step; the real challenge is executing trades well. Remember:

✓ No matter how good the platform, it can’t save a poor trading strategy. ✓ Leverage amplifies both gains and losses; risk management is always the top priority. ✓ Practice on demo accounts; get familiar with the platform before trading real money. ✓ Regularly review trading costs; small fees can add up to big numbers.

Wishing you find the right forex broker and start a steady trading journey!