The Complete Analysis of 2569 Thai Securities Company Fees: Comparison of 10 Broker Rates and Selection Guide

For any investor looking to enter the stock market, transaction fees are undoubtedly a key factor to consider. Different brokerage firms offer varying fee structures, which directly impact investors’ net returns. This article will analyze the fee systems of the top 10 brokers in Thailand’s securities market in 2569, helping investors find the best fit for themselves.

Basic Principles of Brokerage Fee Systems

To understand why different brokers charge such varying fees, we first need to know where these costs come from.

In modern securities markets, investors cannot buy stocks directly from other traders. To ensure safety and transparency, the Thailand Securities Exchange (SET) mandates that all stock transactions be conducted through licensed brokers. As intermediaries, brokers consolidate client orders, coordinate trades, and ensure legality—all services that require compensation.

The main source of income for brokers is transaction fees. Depending on size, competitiveness, and other business factors, each company sets its own fee standards. Choosing the right broker can help investors reduce costs and significantly improve investment returns.

Analysis of Thailand’s Broker Fee Structures

Thailand’s securities fee system is quite complex because different account types incur different rates. Understanding this is crucial for making informed investment decisions.

Fee Differences Between Two Account Types

Many investors can now open trading accounts online, often completing identity verification within 24 hours. With just a few tens of thousands of Thai Baht, investors can start purchasing quality stocks. But what truly affects investment returns is often that seemingly insignificant transaction fee.

Brokers mainly offer two types of accounts, each with its own fee structure:

Cash Balance Account requires investors to deposit sufficient funds beforehand. Due to lower risk (trading limited to the account balance), these accounts usually have the lowest fees. If investors place orders online themselves, fees are typically around 0.15%.

Cash Account is more flexible, similar to a credit mechanism. Investors can trade on the same day and settle the next day. This mechanism offers greater purchasing power but also higher risk, so fees are generally higher, around 0.20%.

In addition to basic rates, many brokers set minimum fee limits. For example, if a small trade results in a percentage fee of only 20 Baht, the broker might still charge a minimum of 50 or 100 Baht. This can be a significant cost for small-scale investors.

Comparison Table of 10 Major Securities Firms’ Fees

To help investors quickly grasp the market landscape, we compiled a full fee comparison of Thailand’s top 10 brokers in 2569:

*Additional fees may apply if E-Confirmation or E-Statement is not used.

Detailed Fee Analysis of Major Brokers

Bualuang (BLS): Advantages of a Bank Affiliate

As a securities division of Bangkok Bank, Bualuang offers a relatively straightforward account opening process. Its core strength lies in its friendly policies toward small traders—if orders are placed online with electronic confirmation (E-Confirmation), there is no minimum fee limit. Fees are strictly proportional: fewer trades, lower costs; more trades, higher costs.

Bualuang charges 0.15% on cash balance accounts and 0.20% on cash accounts (excluding VAT). For small investors who want precise cost control, this is a good choice.

Innovest X: Investment Option of SCBX Group

Formerly Siam Commercial Bank Securities, Innovest X is part of the SCBX group. It also offers no minimum fee for online trading, but this benefit applies only if investors choose electronic statements (E-Statement).

Its fee structure is 0.15% for cash balance accounts and 0.20% for cash accounts. For existing SCBX group clients, this is a natural choice.

SBI Thai Online: Cost-Optimized Best Choice

Originating from Japan, SBI Thailand is renowned for its aggressive pricing. It charges only 0.075% on cash balance accounts—one of the lowest in the market, with no minimum fee.

For cash accounts, the rate is slightly higher at 0.10%, still below industry average, with a minimum fee of 50 Baht. This means that when trading around 50,000 Baht or more, the minimum fee applies. Cost-sensitive investors will find SBI Thailand a strong competitor.

Kasikorn Thai and Thanachart: Traditional Bank Options

Kasikorn Securities and Thanachart Securities represent the typical model of traditional banks entering the securities industry. Their fee structures are similar—0.15% for cash balance and 0.20% for cash accounts, both with a 50 Baht minimum.

Their advantage is not the lowest fees but the backing of strong banking groups, offering integrated financial services; clients can combine bank deposits with stock trading. Some banks even provide exclusive interest rates or financial products for qualifying clients. For example, Thanachart clients maintaining cash deposits can earn up to 1% special deposit interest.

Liberator: The Zero-Fee Revolutionary

Liberator continues its aggressive market stance in 2569, claiming to offer “0% transaction fees” for stock trading. It provides self-service trading via app, with no tiered fees or minimum charges.

This strategy relies on Liberator not depending on trading fees as primary revenue but instead earning through other means (premium features, data services, etc.). For price-sensitive investors, this is currently the most attractive option.

TISCO, Krungthai XSpring, UOB, and Phillip Capital

Other firms adopt industry-standard rates—0.15% for cash balance and 0.20% for cash accounts. Specifically:

• TISCO (TISCO Financial Group) appeals to existing clients.
• Krungthai XSpring is a joint venture between Thailand’s largest commercial bank and a local investment firm, with no minimum fee.
• UOB Kay Hian (UOB Bank Thailand) charges a 50 Baht minimum fee.
• Phillip Capital (Singapore-based) has a relatively low minimum fee of 30 Baht.

Optimal Choices Based on Investment Scale

Choosing the right broker depends not only on fees but also on the investor’s trading volume.

Small Investors (per trade less than 25,000 Baht)

For small trades, minimum fee limits often outweigh percentage rates. In this segment:

• Best options are Liberator (0%) or SBI Thailand (0.075%, no minimum).
• Second best are Bualuang or Krungthai XSpring (0.15%, no minimum).
• Avoid Kasikorn or Thanachart, as their 50 Baht minimum fees may be uneconomical for small trades.

Medium Investors (per trade 25,000–100,000 Baht)

In this range, percentage fees become more significant. Consider:

• Lowest rates: SBI Thailand at 0.075%/0.10%
• No minimum fees: Liberator, Bualuang, Krungthai XSpring
• Additional benefits: Thanachart (up to 1% deposit interest)

Large Traders (per trade over 100,000 Baht)

For high-frequency, large-volume traders, even a 0.05% difference in fee rate can significantly impact costs. They should prioritize:

• Absolute lowest fee: Liberator (0%)
• Market lowest: SBI Thailand (0.075%)
• Service quality: Some investors may prefer Kasikorn or Krungthai XSpring for advanced trading tools and real-time analysis, accepting slightly higher fees (0.15%).

CFD (Contract for Difference) Trading Fee Structure

Besides traditional stock trading, investors can participate via CFDs, which are derivatives allowing leveraged speculation on stock price movements with less capital.

CFD Fee Characteristics

Unlike stocks, most CFD platforms do not charge traditional commissions. Instead, they profit from the bid-ask spread—the difference between buy and sell prices—which is usually lower than percentage fees in stock trading but requires careful calculation.

Major CFD Platforms Comparison

CFD vs. Stock Trading

Stock Trading Advantages:

• No leverage risk; investment limited to account balance
• Clear, transparent fees—typically 0.075%-0.20%
• Actual ownership of stocks
• Suitable for medium- to long-term investing

CFD Advantages:

• No traditional commissions (only spreads)
• Leverage (1:200–1:1000) allows trading with less capital
• Supports short selling (profit from declines)
• Flexible trading scales and timeframes
• Risks: Leverage can lead to losses exceeding initial capital

Additional Cost Considerations

Transaction fees are not the only costs. The full cost structure includes:

1. Broker’s fee (0.075%-0.20%)
2. Exchange fees (SET trading fee + clearing fee + regulatory fee, approx. 0.007%)
3. VAT (7% on fees)
4. Additional fees for cash accounts (14.98 Baht including VAT)

For example, a 100,000 Baht trade with the lowest fee broker (SBI Thailand) using a cash balance account:

• Broker fee: 100,000 × 0.075% = 75 Baht
• SET fee: 100,000 × 0.007% = 7 Baht
• VAT: (75 + 7) × 7% ≈ 5.76 Baht
• Total cost: approximately 87.76 Baht (~0.088%)

In contrast, Kasikorn:

• Broker fee: 100,000 × 0.15% = 150 Baht
• SET fee: 7 Baht
• VAT: (150 + 7) × 7% ≈ 11 Baht
• Total: about 168 Baht (~0.168%)

The difference is significant—using SBI Thailand can save about 80 Baht on this trade, and such savings accumulate with larger or more frequent trades.

Final Recommendations and Decision Framework

When choosing a broker in 2569, investors should consider:

Step 1: Clarify your investment scale and trading frequency. Small and large investors have different optimal choices.

Step 2: Compare beyond fees—platform usability, customer support, analytical tools, and additional services.

Step 3: Perform detailed cost calculations rather than relying solely on percentage rates. Minimum fee limits can greatly affect small trades.

Step 4: Look for other benefits—some banks like Thanachart offer not only standard fees but also special deposit rates, which may be valuable for long-term investors.

Step 5: Don’t focus solely on saving the last few Baht in fees. A better trading platform, superior analysis tools, or better customer service may justify slightly higher costs.

Overall, in 2569 Thailand’s securities market, Liberator offers the most aggressive 0% fee model, SBI Thailand provides the most competitive traditional fee (0.075%), and bank-affiliated brokers like Thanachart and Kasikorn offer comprehensive services and additional perks. The key is understanding your needs, calculating actual costs, and making rational decisions. After all, choosing the lowest fee broker is just the first step in optimizing investment returns; the quality of your investment strategy is ultimately more important.