Which broker is good in 2025? Analyze the trading commission rates for stock trading.

Trading fees are a crucial factor that impacts investors’ net benefits. The higher the commission, the lower the profit. Conversely, choosing a broker with a low fee structure gives investors a better chance to maximize their gains. This article analyzes and compares the commission rates of leading brokers in Thailand in 2025.

Why Do Broker Fees Differ?

When discussing stock trading commissions, it’s important to understand their origin. The stock exchange system requires investors to conduct transactions through an authorized intermediary called a “broker.” Their role is to provide, find trading partners, coordinate, and ensure trustworthy transactions, allowing investors to trade safely and systematically.

To fulfill this role, brokers charge fees to investors. Due to market competition, each broker designs different commission models and promotions to attract traders.

Account Types and Fee Differences

Most brokers categorize accounts into two types:

Cash Balance Account – An account where funds must be transferred in full before purchasing stocks. You pay only for the amount bought, which carries lower risk. The fee is approximately 0.15% when submitting orders manually via online systems.

Cash Account – An account allowing stock purchases with payment deferred to the next day. It offers more control over funds but has higher fees, around 0.20% of the trading value.

Comparing Fees of Leading Thai Brokers

Analysis of Each Broker’s Commission Details

Bualuang - A Cost-Effective Choice for Small Capital

Part of Bangkok Bank Group, it offers no minimum fee. You pay only for what you trade: 0.15% for Cash Balance and 0.20% for Cash Account. (VAT not included), making it suitable for investors with limited funds.

InnovateX - Flexible Service

Part of SCBX Group, with commissions at 0.15% (Cash Balance) and 0.20% (Cash Account). The advantage is that if you use E-Statement, there’s no minimum fee, ideal for small-volume traders.

SBI Thai Online - Very Affordable

This Japanese broker stands out for its low commissions—only 0.075% for Cash Balance, significantly lower than competitors, with no minimum fee. Cash Account has a 0.10% rate with a 50 THB minimum. Such low commissions are rare in the market.

Kasikorn Thai - Complete Service

Standard commission rates of 0.15% and 0.20%, with a 50 THB minimum. Offers comprehensive online analysis services, suitable for investors needing detailed information.

Liberator - Tiered System

Uses a tiered commission structure: for trades up to 5 million THB, 0.15%; for 5-10 million THB, 0.13%; above 10 million THB, 0.11%. Additional fee of 50 THB per transaction. Ideal for high-volume traders.

TISCO - For Existing TISCO Clients

Part of TISCO Group, with standard rates of 0.15% (Cash Balance) and 0.20% (Cash Account). Best suited for existing clients.

Thanachart - Deposit Interest Benefits

Commission at 0.15% and 0.20% with a 50 THB minimum. An added benefit: if you open a Cash Balance account and deposit funds, you earn a special 1% annual interest, which exceeds expectations.

Krungthai XSpring - No Minimum Fee

Resulting from collaboration between Krungthai Bank and XSpring Capital, this broker charges 0.15% (Cash Balance) and 0.20% (Cash Account) with no minimum fee, making it a good choice for small capital.

UOB - Full Service from a Global Bank

Commission rates of 0.15% and 0.20%, with a 50 THB minimum. Benefits include being part of a large international bank.

Phillip Capital - Good System, Fair Price

Minimum fee of only 30 THB, with commissions at 0.15% and 0.20%. Advantages include quick account opening and high-quality analysis systems.

Differences Between Cash Balance and Cash Account

Cash Balance accounts are safer because investors must have actual cash before buying, eliminating risks from credit or losing more than their capital. Consequently, fees are lower.

Cash Account offers more flexibility: investors can buy stocks first and pay later, similar to using a credit card, which increases purchasing power but also risk. Therefore, fees are higher.

Considerations for CFD Stock Traders

Beyond trading actual stocks, another option is using CFDs (Contract for Difference), which are contracts to profit from stock price movements without owning the stocks. Advantages include low costs, high leverage, and the ability to short sell.

Most CFDs do not charge trading fees but generate profit from the price difference (Spread), for example:

• Mitrade: No commission, leverage up to 1:200, regulated by ASIC, CIMA, FSC
• IC Markets: No commission, leverage up to 1:1000, regulated by ASIC, CySEC, FSA
• CMC Markets: Commission $10 Leverage up to 1:500(, regulated by CIRO

CFDs are high-risk instruments because high leverage can lead to losses exceeding the initial investment. Traders should understand these risks and choose brokers regulated by reputable authorities.

Summary of Broker Selection

• Small capital and want to save on commissions: SBI Thai Online )0.075%( or Bualuang )No minimum fee(
• Medium capital, need good service: Kasikorn Thai or UOB
• Large capital, high trading volume: Liberator )Tiered system or Phillip Capital
• Want deposit interest benefits: Thanachart
• Need flexibility: InnovateX

Broker fees are not just numbers; they should be considered alongside service quality, system reliability, and individual investor needs to maximize trading benefits.