Buy EUR with THB - Currency exchange

[LoterGarry]

Hello,

I have never traded on Forex, but I am trying to understand if it can be used to exchange currencies ?

My objective is not to make a profit on a currency pair increase, but simply to convert some Thai baht (THB) into EUR in order to have better rates than banks here in Thailand.

Can someone recommend a broker where I can deposit THB, and trade on the EUR/THB pair in order to get EUR by selling my THB ?

Thanks a lot in advance.

[LanestIo]

I’m guessing you want to do physical currency exchange to buy physical EUR’s? If this is the case unfortunately the spot forex market is not suitable for such purpose.

[Sanidly]

Funny enough, I was in Bangkok last year and needed to convert some THB to EUR. Banks were giving terrible rates, so I looked into Forex for a bit. I found that this tool can help traders get a quick sense of how much EUR you'd get for your THB before actually placing any trades. Ended up picking a small broker that let me deposit THB and sell it for EUR directly—way better than the bank’s rates and super simple to follow.