Brokers eyeing Thailand and Vietnam may talk about the expansion as a mapping exercise, but operators at the FM Summit Singapore 2026 said it is actually a test of local confidence, staffing discipline and risk controls in markets that remain attractive, crowded and largely relationship-based.
At the FM Summit Singapore 2026, a panel on Thailand and Vietnam offered a practical message for brokers chasing growth in Southeast Asia: entering both markets is less about opening a local site and more about learning how to work within opaque rules, local languages and trust-based networks.
Local talent and “yes” culture.
Jonathan Fine, who moderated the discussion, portrayed the issue as a gap between market interest and real operational knowledge, arguing that Thailand and Vietnam are often discussed but not well understood by companies trying to expand into the region.
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This gap quickly emerged in participants’ statements, with Won Tien Cheng, CEO of ACCM, saying that local talent can make or break an operation because “once you hire the wrong person, you will create… a lot of strange problems for you and the company,” while Janis Baltalknes, regional director for Thailand and Laos at Versus Trade, warned that the Thai market is full of “noise” and unclear commitments.
Small ticket, IB-heavy models
Regarding unit economics, both speakers described smaller ticket sizes than in Europe or China, but still great value if the model is designed at scale. ACCM sees average first-time deposits in Vietnam ranging from $50 to $1,000 and customer lifetime value of $2,000 to $5,000, Cheng said, while Baltalksnis said Thai clients often start with $50 or $100 to test withdrawals, qualify friction and support customers before committing more capital.
Both executives agreed that Thailand and Vietnam remain IB-led markets, where local teams are not optional. Achieving success is “next to impossible” without local staff in Thailand, Baltalknis said, adding that partners and employees have wide options for brokerage in a saturated market. However, Cheng said that a local presence alone is not enough, saying a visible foreign CEO can also boost credibility because introducing brokers want proof that they are dealing with a real regional company rather than “some kind of inconspicuous local venture.”
Risks of abuse and additional headaches
Risk management It appeared as another fault line. Newcomers quickly become targets of abusive trading behavior and must put controls in place around corner cases, especially for accounts free of swap interest and aggressive bonus structures, Baltalksnis said. “Don’t go crazy and follow players who offer 100% deposit bonuses up to $10,000,” he said. “This is a potential killer for your company.”
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Regarding regulation, neither speaker described Thailand or Vietnam as clear land licensing stories. There is still no clear local licensing system for CFDs or forex in Vietnam, Cheng said, adding that brokers often enter through offshore entities backed by licenses recognized elsewhere, while he said trading abroad Systems It can act as a bridge to credibility, although trust still relies heavily on local relationships.
The session ended on a softer note, but reinforced her basic argument: these are human markets before they are growth markets. For companies trying to build in Bangkok or Vietnam, the message was clear – trust, language and local reputation may be more important than the size of the initial deposit.
This article was written by Jared Kirroy at www.financemagnates.com.
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