Choose the right broker: Fee calculation principles and comparison for the year 2025

2026-01-05 17:10:50

The fees charged by brokers are one of the key factors that directly impact investors’ profits. If the fees are high, the profits will be reduced, while lower fees help investors retain more gains. The challenge lies in choosing a broker with fees that match your trading style, which is not an easy task. This article aims to help investors understand the fee structure and compare prices across different brokers effectively.

How Fees Are Charged and Their Origins

Regulators of the stock exchange require investors to trade stocks through official channels of the exchange to ensure convenience and safety. Therefore, brokers act as intermediaries, collecting buy/sell orders and connecting investors with the market, fostering trust and facilitating transactions.

The fees collected from investors are a natural and necessary way for brokers to generate income. Each broker develops various strategies to set fee prices to attract investors; some may focus on low-volume traders, while others emphasize convenience and additional services.

Fee Types Based on Account Types

Most brokers set different fees depending on the type of account chosen by the investor.

Cash Balance Account is an account where investors must deposit the full amount before trading. The investment limit is restricted to the deposited amount. Generally, fees for this account are the lowest, ranging from 0.006% to 0.15% of the trading value, depending on each broker’s policy.

Cash Account offers more flexibility, allowing investors to buy and sell within a day using a margin larger than their actual funds, with settlement occurring the next day. However, fees for this account are higher, ranging from 0.10% to 0.20% of the trading value.

Comparing Broker Fees in 2568 (2025)

The table below shows the fee details of leading brokers in Thailand in 2568 (2025):

Broker	Cash Balance	Cash Account	Minimum Fee
Bualuang	0.15%	0.20%	None
SCB	0.15%	0.20%	Exempt when using E-Confirmation
SBI Thai Online	0.075%	0.10%	50 Baht
Kasikorn	0.15%	0.20%	50 Baht
Liberator	0.006%	0.006%	Not specified
TISCO	0.15%	0.20%	Not specified
Thanachart	0.15%	0.20%	50 Baht
Krungthai XSpring	0.15%	0.20%	None
UOB	0.15%	0.20%	50 Baht
Philip	0.15%	0.20%	30 Baht

Options for Small-Volume Investors

For those investing with small amounts, the key is to avoid minimum fees that are disproportionately high.

Bualuang offers the advantage of no minimum fee, so investors pay only based on the percentage rate. With a 0.15% rate for Cash Balance accounts, this is suitable for small-scale trading.

Krungthai XSpring also does not charge a minimum fee, with rates of 0.15% and 0.20% depending on the account type.

SBI Thai Online provides a lower-than-average fee rate of 0.075% for Cash Balance accounts, which is the lowest in the market. Although there is a minimum fee of 50 Baht for Cash Account, the Cash Balance account has no minimum.

Liberator stands out with a minimum fee rate of only 0.006% across all accounts, which is the lowest in the market for high-volume trading.

Choosing for High-Volume Investors

Investors trading in large quantities should consider factors beyond just fees.

A fee rate of 0.15-0.20% is considered standard in the market. For example, Thanachart not only offers standard fees but also provides a special benefit of a 1% annual deposit interest rate if investors open a Cash Balance account and deposit funds. This can be advantageous for those with significant deposits.

Kasikorn offers online analysis and support services that add convenience, which may justify the standard fee rate.

Philip is known for good analysis and quick account opening. The minimum fee of only 30 Baht is fair for medium-volume investors.

Additional Conditions to Consider

Some brokers, such as SCB and SBI Thai Online, offer fee waivers for minimum fees if investors verify orders via E-Statement or E-Confirmation. This means investors can avoid minimum fees when using online verification systems.

Investors should also check whether the fees include VAT, as a 7% value-added tax will be added on top of the fee. Additionally, there are other fees from the Stock Exchange of Thailand, transaction fees, and other related trading costs.

Each Brokerage Firm and Their Highlights

Bualuang is a broker affiliated with Bangkok Bank, offering quick account opening and no minimum fee, ideal for existing Bangkok Bank customers.

SBI Thai Online features a notably low fee rate of 0.075% for Cash Balance, making it a good choice for cost-conscious traders.

Liberator offers a tiered fee structure, where the rate decreases as trading volume increases, suitable for high-volume traders.

Thanachart not only charges standard fees but also provides a special 1% annual deposit interest rate for Cash Balance accounts with deposited funds.

Summarizing Smart Broker Selection

Choosing the right broker depends on your trading approach and investment amount. Small investors seeking the lowest fees should consider Bualuang or Krungthai XSpring. Those aiming for the lowest possible fee rate might look at SBI Thai Online or Liberator.

High-volume investors interested in additional services and interest benefits should consider Thanachart or Kasikorn. Philip is a good option for those seeking a balance between reasonable fees and quality analysis services.

Studying fee structures and conditions is a crucial first step for investors to select the most suitable broker efficiently.

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