Brokers eyeing Thailand and Vietnam may talk about expansionas a map exercise, but operators at FM Singapore Summit 2026 argued it isreally a test of local trust, hiring discipline and risk controls in marketsthat remain attractive, crowded and highly relationship-driven.At FM Singapore Summit 2026, a panel on Thailand and Vietnamoffered a practical message for brokers chasing Southeast Asia growth: enteringthe two markets is less about opening a local outpost than learning how tooperate inside opaque rules, local languages and trust-based networks.Local Talent and ‘Yes’ CultureJonathan Fine, moderating the discussion, framed the issueas a gap between market interest and real operating knowledge, arguing thatThailand and Vietnam are often discussed but poorly understood by firms tryingto expand in the region.You may also like: “What Differentiates Brokers Now Is Connectivity and User Experience”: Inside FM Singapore Summit 2026That gap showed up quickly in the panellists’ remarks, withWon Tien Ching, CEO of ACCM, saying local talent can make or break an operationbecause “once you hire a wrong guy, you will create… so many freaking problemsfor you and the company,” while Janis Baltalksnis, Regional Director forThailand and Laos at Versus Trade, warned that the Thai market is full of“noise” and unclear commitments.Small Tickets, IB-Heavy ModelsOn unit economics, both speakers described smaller ticketsizes than in Europe or China, but still meaningful value if the model is builtfor scale. Ching said ACCM sees average first-time deposits in Vietnam rangingfrom $50 to $1,000 and client lifetime value of $2,000 to $5,000, whileBaltalksnis said Thai clients often begin with $50 or $100 to test withdrawals,onboarding friction and customer support before committing more capital.Both executives agreed that Thailand and Vietnam remainIB-led markets, where local teams are not optional. Baltalksnis said it is“close to impossible” to succeed without local staff in Thailand, adding thatpartners and employees have ample broker choice in a saturated market. Ching,however, argued that local presence alone is not enough, saying a visibleforeign executive can also strengthen credibility because IBs want proof theyare dealing with a real regional firm rather than “some kind of sketchy localproject.”Abuse Risk and Bonus HeadachesRisk management emerged as another fault line. Baltalksnissaid newcomers quickly become targets for abusive trading behavior and shouldbuild controls around corner cases, particularly for swap-free accounts andaggressive bonus structures. “Don’t go crazy and follow the players that areoffering 100% deposit bonuses for up to $10,000,” he said. “That’s a potentialkiller for your company.”More from the event: “In Asia, Loyalty Is Earned in WhatsApp Groups and Golf Invitations”: FM Singapore Summit 2026 InsightsOn regulation, neither speaker described Thailand or Vietnamas straightforward onshore licensing stories. Ching said there is still noclear local CFD or forex licensing regime in Vietnam, adding that brokers oftenenter through offshore entities backed by recognised licences elsewhere, whileBaltalksnis said offshore regulation can work as a credibility bridge, thoughtrust still rests heavily on local relationships.The panel ended on a softer note, but one that reinforcedits core argument: these are human markets before they are growth markets. Forfirms trying to build in Bangkok or Vietnam, the message was clear — trust,language and local reputation may matter more than the initial deposit size.This article was written by Jared Kirui at www.financemagnates.com.