2025 Forex Exchange Benchmark Guide: In-Depth Evaluation of Taiwan's Seven Major Traders

The first step into the Forex market is to find a trading service provider that truly suits you. The numerous options on the market can be overwhelming, but the core question is only one: which Forex broker can give you the trading experience you want? This review compiles the seven major Forex brokers active in the Taiwan market in 2025, analyzing their features and limitations one by one to help you quickly identify the best choice.

What is a Forex Broker? Understand the Basic Concepts Before Getting Started

A Forex broker essentially acts as a bridge connecting individual investors to the global currency markets. Just like stock markets require brokers, the Forex market has brokers serving as intermediaries, taking orders, matching, and executing trades.

Compared to banks that only offer major currency exchange, Forex brokers open up trading opportunities for over 100 currency pairs to retail clients, and provide margin trading tools with 20～200x leverage. In other words, you can leverage a small amount of capital to control a much larger position.

Forex brokers are divided into two types based on order execution mode:

Market Maker (DD): The broker acts as your counterparty, profiting from the bid-ask spread. They set fixed prices for your orders, which usually do not go to the market. This mode offers fast execution but requires trust in the broker.

No Dealing Desk (NDD): Includes STP and ECN types. These brokers do not act as counterparties; instead, they connect your orders directly to liquidity providers or interbank markets. You see real-time quotes with more transparent spreads.

Comparison of Seven Forex Brokers: Essential Data Before Choosing

In-Depth Analysis: Detailed Review of the Seven Major Brokers

Yuanta Futures — Taiwan’s Local Leverage Pioneer

Since obtaining its license in 2017, Yuanta Futures became Taiwan’s first futures broker qualified for leverage trading. Using the MetaTrader 5 platform, it offers 35 currency pairs.

Advantages: Zero spread promotion on Forex, metals, oil; FSB regulation ensures fund safety; minimum lot size of 0.01 lots is friendly to small investors. Trading hours are Monday to Friday (GMT+8).

Disadvantages: Separate handling fees of 0.01% and 0.1% for foreign indices and stocks; does not support TWD deposits or withdrawals.

Suitable for: Local investors familiar with MetaTrader, with some capital, trading metals and oil.

Mitrade — User-Friendly All-in-One Platform

Founded in Australia, with millions of users worldwide, Mitrade has won awards like Best Forex Broker Asia 2022 and Best Mobile Trading Platform Asia 2023. Its self-developed platform features a simple interface optimized for beginners.

Advantages: Supports TWD deposits and withdrawals (rare among Taiwanese brokers), trading can start with just $50 USD, negative balance protection ensures losses do not exceed capital, 24/5 Chinese customer service, flexible leverage from 1～200x.

Disadvantages: Asset variety includes 59 types but less extensive than IG and IC Markets.

Suitable for: Entry-level investors, Taiwanese traders wanting direct TWD deposits/withdrawals, conservative investors seeking safety.

KGI Leverage Broker — Most Localized Regulation

Regulated by Taiwan’s FSC, Central Bank, and OTC Center, the Nano Trading King platform offers 12 Forex pairs. All products have floating spreads and overnight fees; overseas indices incur additional fees (0.01%～0.50%).

Advantages: Most familiar and secure regulatory environment, localized service support.

Disadvantages: Few tradable assets (only 12 Forex pairs), no TWD deposits/withdrawals, some products have a minimum fee of $5 USD.

Suitable for: Investors confident in local regulation, mainly trading Forex in Taiwan.

Far Eastern Bank Forex — Traditional Banking Option

As a commercial bank in Taiwan, Far Eastern Bank has 56 branches offering 15 Forex pairs. Fixed 20x leverage, spreads based on market conditions (about 5 pips for major pairs).

Advantages: High credibility as a bank, physical branches for consultation.

Disadvantages: Highest deposit threshold ($10,000 USD), relatively wide spreads (from 5 pips), higher trading costs than professional brokers.

Suitable for: Conservative traders preferring traditional financial institutions, with ample funds, less sensitive to spreads.

IG — The Oldest Global Trading Giant

Founded in London in 1974, part of the London Stock Exchange, with offices in 17 countries. Offers thousands of financial markets, with a powerful proprietary platform and app.

Advantages: Over 100 Forex assets, long-standing reputation, regulated by ASIC, up to 200x leverage, spreads from 0.6 pips on popular currency pairs.

Disadvantages: Dormant account fee of AUD 18/month if unused for 2 years; withdrawal limits by currency (minimum $150 USD for USD); does not support TWD deposits/withdrawals.

Suitable for: Professional investors seeking stability and high trading volume.

IC Markets — Leverage Frenzy

ECN trading mode, established in Sydney, offering 61+ assets. The most striking feature is 1000x leverage — the industry’s most aggressive setting.

Advantages: Extremely high leverage for aggressive traders, floating spreads, accepts multiple currencies for deposits.

Disadvantages: Low-commission model, extremely high risk with 1000x leverage, relatively high minimum deposit of $200 USD.

Suitable for: Advanced traders, seeking maximum leverage, with extensive risk management experience.

CMC Markets — Professional Tools from a London-listed Company

Listed on LSE, regulated by FCA, ASIC, FMA, etc. Nearly 12,000 CFD products available, highly customizable platform.

Advantages: Widest product range, most international regulation, up to 500x leverage, competitive spreads (from 0.7 pips on EUR/USD, AUD/USD).

Disadvantages: Only supports bank international wire transfers; dormant account fee of $15/month if inactive for 1 year; does not support TWD deposits/withdrawals.

Suitable for: Traders needing diverse instruments and international remittance capabilities.

Six Key Considerations When Choosing a Forex Broker

1. Transparency of Trading Costs

Spreads, commissions, overnight fees are visible, but beware of hidden costs. Withdrawal fees, inactivity fees, service charges can eat into profits. Mitrade’s zero-commission setup is friendly for small trades.

2. Asset Coverage

Want to trade Forex, crypto, indices, metals? IG and CMC Markets offer 100+ and 12,000+ products respectively. If only trading currency pairs, KGI’s 12 and Far Eastern’s 15 are sufficient.

3. Trading Platform Experience

MetaTrader 5 is industry standard, but Mitrade’s proprietary platform is more beginner-friendly. IG and CMC Markets offer customization for advanced traders.

4. Deposit and Withdrawal Convenience

A practical pain point. Only Mitrade supports direct TWD deposits/withdrawals; others require USD or international wire transfers. Time and currency exchange costs should be considered.

5. Fund Security First

ASIC, FSB, FSC regulation each has strengths. Mitrade’s negative balance protection adds an extra layer. Always check if the platform transparently displays license numbers on official websites.

6. Customer Service Response Speed

When trading stalls or market data glitches, every second counts. Mitrade’s 24/5 Chinese customer service is most reliable in critical moments.

How Do Forex Brokers Make Money? Insider Tips for Traders

How Market Maker Brokers Profit

When you buy 1 lot of EUR/USD, the broker finds a matching order from other retail traders or the interbank market, or acts as the counterparty and sells to you. They profit from the bid-ask spread and overnight fees. If you lose money, they make money; if you win, they lose. This mode is risky but fast, and regulated brokers must be licensed and trustworthy.

How No Dealing Desk Brokers Profit

STP brokers aggregate quotes from multiple liquidity providers, adding a markup as commission. ECN brokers keep the quotes stable but charge a trading commission. They want you to trade frequently; whether you win or lose, they earn from trading volume. This mode is the fairest for honest traders.

Getting Started: Three-Step Account Opening Process

Taking Mitrade as an example, the entire process is online, no paper documents needed:

Step 1: Fill in personal information and submit the application. The system will require identity and contact verification.

Step 2: Fund your account. Supports Skrill, Poli, Visa, Mastercard, wire transfer, etc. TWD deposit is more convenient.

Step 3: Start trading. EUR/USD, gold, oil, crypto, global stock indices are all at your fingertips. The system also offers $50,000 USD demo funds for practice.

In just three simple steps, you become a user of a Forex broker.

Frequently Asked Questions

Why choose a regulated broker?

Unregulated platforms are like casinos; regulated ones are legitimate markets. Authority regulation means the broker must comply with strict standards, undergo regular audits, and keep funds segregated. If scammed, you can complain to the regulator. Unregulated platforms leave you with no recourse.

How to verify the authenticity of a broker’s regulation?

Every regulated broker has a unique license number. Mitrade publicly displays all regulation info, license numbers, and official verification links on the “About Mitrade” page. Before trading, visit the regulator’s official website and enter the license number for verification. Fake licenses are instantly exposed.

Can choosing the right Forex broker guarantee profits?

The broker is just a tool; the real determinants of success are the trader’s knowledge, discipline, and psychological resilience. Even the best platform with poor trading systems results in losses. After choosing the right tool, you must invest time in learning Forex trading logic, technical analysis, and risk management.

Do Taiwanese traders have local advantages?

Time zone friendliness is an advantage. Taiwan’s standard time aligns perfectly between London and New York opening hours, providing the best liquidity and tightest spreads during working hours. Avoiding volatility before the US stock market closes on Fridays, the trading experience can be much better than for European or American traders.