Everything about Forex brokers in Cambodia is in this guide

Contents

1 What are the best Forex brokers in Cambodia?
2 What is the main regulatory body of Cambodia and how do the regulations work?
3 How to tell if the company is really regulated or not?
4 What is the national currency of the country and what payment methods can be used by Cambodian Forex brokers?
5 What trading platforms will FX traders in Cambodia come across in the country?
6 Should you start Forex trading in Cambodia in 2020?

Forex trading is becoming more and more popular every day. As many countries are changing their policies towards the field of Forex, more people are getting the opportunity to access the Forex trading market. However, there are some things that you need to consider before you start trading, it is a very risky business and you need to be aware of those risks for your own safety.

Forex trading in Cambodia is still very new, it is one of those countries that started to change its regulations towards the market to make it more accessible for their people. Cambodia is a Southeast Asian country, with little over 16 million population, the government of the country started to adopt new regulations in 2016, however, there still are not so many local Forex brokers in the country.

If you are one of those people who are looking for a place for Forex trading in Cambodia, you have come to the right place! In today’s guide, we will discuss everything about this field and will try to offer you an insight into the field of Forex in Cambodia.

What are the best Forex brokers in Cambodia?

There are many things that make a certain FX broker the best one. However, when it comes to countries like Cambodia, where local FX brokers simply do not offer enough services to the citizens of the country, most of the people are starting to use international Forex trading platforms.

To make your job a lot easier, we have decided to do research and finally were able to come up with a list of the best Forex brokers in Cambodia. You can access the list below. While working on this list, we made sure to keep in mind some of the most important aspects of Forex trading in Cambodia, such as regulations, available payment methods, trading software, etc.

Our Top Rated Broker

Licences

FCA, CySEC, IFSC, ASIC, DFSA

Min. depo

Leverage

1:888

Platform

MT4, MT5, WebTrader

XM

AvaTrade Review – Broker of choice since 2005

Licences

ASIC, FSA, FSCA, FFAJ, FSRA, FSC

Min. depo

100 USD

Leverage

400:1

Platform

MT4, MT5

AvaTrade

Licences

FCA, ASIC, CySEC, FSCA, FMA, MAS

Min. depo

$100

Leverage

1:30

Platform

WebTrader, Windows 10 Trader

Plus500

What is the main regulatory body of Cambodia and how do the regulations work?

Regulations are probably one of the most important parts of a Forex broker, however, there are many people who tell you otherwise. A lot of people say that regulations are not any good and all they do is that they prevent the field from further development.

However, when it comes to field like Forex, where your hard-earned funds are involved, you need to make sure that you are only trusting Forex traders that can offer you the safest trading environment.

In Cambodia, until 2016, the field of Forex was simply not regulated at all. After that, the Securities Exchange Commission of Cambodia, SECC, decided to officially start granting trading licenses to different companies. There are several things that the company needs to do to to get the license, including:

The company should have a minimum operational capital of at least $250,000
Also, the company should have a security bond, equivalent to 15 percent of their capital

How to tell if the company is really regulated or not?

It is very easy to learn if a certain company is really authorized or not by the official regulatory body. In general, Forex trading platforms have information regarding the regulations provided at the bottom of their website. However, you need to make sure that you will always double-check the information provided by the Cambodian Forex brokers.

The SECC has a special list of the brokers that they are regulating, among them, are 40 different trading companies that you can check at the official website of the SECC right now.

Why are regulations so important?

Regulations are something that you can use for your own good. There are a number of Forex brokers in Cambodia that are not regulated and are doing their job illegally, you can always try out those to understand the real importance of regulations. We have all heard about the horror stories about the people who have been lied to and who have lost their money simply because they trusted the wrong company.

So, if you want to stay safe and keep your funds safe as well, always trade with authorized Forex brokers. Even if you are using an international Forex broker, that owns a license from one of the biggest regulatory bodies, make sure that you are trading with a company that owns both, local and international licenses.

What is the national currency of the country and what payment methods can be used by Cambodian Forex brokers?

Cambodian riel is the national currency of the country, the official code of the currency is KHR. The riel is very actively used in the rural areas of the country, however, the USD is also very actively used in the urban areas of the country, especially in the tourist areas.

However, KHR is not that actively used by Forex traders since most of the traders prefer to trade major currency pairs. KHR falls into the exotic currencies, it is mostly traded in pairs with the USD and is, in most cases, traded by professional Forex traders.

When it comes to payment methods, there are a number of them you can choose from. Generally, people prefer to use cash for day-to-day activities, but when it comes to Forex trading, E-Wallets and credit/debit cards are also very popular. There are many local payment methods based in Cambodia, which you can very easily use if you are trading with local Forex brokers in Cambodia.

However, those who are using international trading companies will most probably have to use either credit cards or other internationally accepted payment methods.

Something that we would recommend is to always go with a Forex broker that accepts payments and withdrawals in the national currency of the country because this way, you will have the ability to avoid high fees on transactions. If you are one of those people looking for the best FX brokers in the country, you should definitely take a look at our list of the best FX brokers in Cambodia below.

XM

Min. Depo

Licences

FCA, CySEC, IFSC, ASIC, DFSA

Leverage

1:888

Platforms

MT4, MT5, WebTrader

AvaTrade

Min. Depo

100 USD

Licences

ASIC, FSA, FSCA, FFAJ, FSRA, FSC

Leverage

400:1

Platforms

MT4, MT5

Min. Depo

Licences

FSA, FSCA

Leverage

1:1000

Platforms

MT5,

What trading platforms will FX traders in Cambodia come across in the country?

Software that you are using for Forex trading is probably one of the most important things when it comes to Forex traidng. Generally, most of the Forex brokers on the market, to be exact 90 percent, have adopted MetaTrader 4, which is one of the most popular trading platforms around the world.

It offers traders a huge trading market with tens of different available currency pairs. MT5 and cTrader are also very popular, and even though the MT5 is a newer version of the MT4, the letter is still more actively used by Forex traders in the country and around the world ass well.

Over the years, MT4 was able to gather a huge following, as a result of which, the internet is full of different Forums where you can find accurate information about the trading platform. As a result of this, you will be able to find the help that you need at any time of the day! Also, MT4 is very much user-friendly and can be sed very easily, even beginners can use it.

Should you start Forex trading in Cambodia in 2020?

There might be some problems when it comes to the financial sector of the country because of the struggle that it has been through, however, you can still find decent Forex brokers that offer their services to the citizens of the country. Forex trading is a great chance for everyone to have access to a huge traidng market, which is becoming more and more popular around the world.