HTX Thailand: Is This Exchange Right for You?
Thailand’s crypto market hit $8.2 billion in 2025, but HTX (formerly Huobi) struggles to keep up. It’s the third-largest exchange in Thailand with just 18.7% market share, trailing Bitkub and Satang. Worse, HTX operates without full regulatory approval from Thailand’s Securities and Exchange Commission (SEC). If you’re a Thai trader, this isn’t just a minor detail-it could mean your funds are at risk. Here’s what you need to know before trading.
What HTX Offers Thai Traders
HTX rebranded in 2024 but kept its global infrastructure. It supports over 700 cryptocurrencies across nearly 1,000 trading pairs, far more than local competitors. Daily trading volume hits $4.2 billion, according to CoinGecko’s May 2025 data. This liquidity matters when trading volatile assets like meme coins. During the May 2025 Solana surge, Thailand’s MOODENG token jumped 521% in a week-exclusively on HTX. But this isn’t for everyone. The platform’s interface is complex, with Coin Bureau’s 2025 usability test showing Thai beginners take 47 minutes to complete their first trade. Bitkub users average just 22 minutes.
Security and Fees: Solid but Not Perfect
HTX stores 98.5% of user funds in cold wallets, with regular audits by CertiK. Its $300 million Investor Protection Fund covers losses from hacks. However, Thai users report slow withdrawals. Bitrawr’s October 2024 tests show THB bank transfers take 1-3 business days, while credit card deposits via Banxa charge 3.5% fees. New PromptPay integration (launched May 1, 2025) speeds up deposits to 15 minutes, but withdrawals still lag behind Bitkub’s instant service. Fees are tiered: makers pay 0% to -0.01%, takers 0.0218% to 0.2%. High-volume traders save money, but casual users pay more than on Bitkub’s flat 0.25% fee.
HTX vs Bitkub vs Satang: Key Differences
| Feature | HTX | Bitkub | Satang |
|---|---|---|---|
| Cryptocurrencies Available | 700+ coins | 250 coins | 180 coins |
| Daily Trading Volume | $4.2 billion | $1.8 billion | $1.1 billion |
| THB Deposit Speed | 1-3 business days (bank), 15 mins (PromptPay) | Instant | Instant |
| Thai Language Support | 65% interface translated | Full Thai support | Full Thai support |
| KYC Approval Time | 28 hours average | 12 hours average | 18 hours average |
| Regulatory Status | Partially compliant, SEC registration pending | SEC-licensed | SEC-licensed |
Who Should Use HTX? (And Who Should Avoid It)
HTX shines for advanced traders. If you’re buying obscure altcoins or need deep liquidity for large orders, it’s a top choice. Its $4.2 billion daily volume means tighter spreads and faster execution during market swings. Reddit user u/ThaiCryptoNewbie praised HTX’s P2P system for buying Bitcoin during Bitkub outages in May 2025. But beginners should avoid it. Thai users on Trustpilot complain about the English-heavy interface (only 65% translated to Thai) and slow customer service. One Pantip.com user spent five days submitting ID selfies for KYC approval. Coin Bureau’s 2025 review gave HTX a 2.8/5 for usability-worst among Thailand’s top exchanges.
Regulatory Risks You Can’t Ignore
HTX’s biggest weakness is regulatory uncertainty. Thailand’s 2024 Digital Asset Act requires all exchanges to register locally. HTX hasn’t completed this, despite partnering with Bangkok’s Siam Blockchain in March 2025. Professor Somchai Meesuksom of Chulalongkorn University warned in a February 2025 Bangkok Post op-ed that HTX’s Seychelles-based operation creates "regulatory uncertainty" for Thai users. MoneyTransGuide’s April 2025 survey found 68% of Thai financial analysts agree. This isn’t theoretical: Binance lost its Thai license in 2024 after similar compliance issues. HTX CEO Leon Li promised SEC registration by December 31, 2025, but Chainalysis predicts HTX could lose 5-7% market share if it misses this deadline.
Real User Experiences: What Thai Traders Say
Trustpilot reviews tell a clear story. HTX has a 3.6/5 rating from 1,247 Thai users. Positive comments highlight "wide cryptocurrency selection" (42% of positive reviews) and "competitive fees for high-volume traders" (31%). But negative reviews dominate: 67% cite slow THB withdrawals, and 58% mention poor Thai language support. On Reddit’s r/ThailandCrypto, u/BangkokTrader detailed a 72-hour withdrawal delay in April 2025. Meanwhile, Pantip.com threads show 73% of complaints about KYC issues. One user, CryptoLek, documented needing three selfie submissions with Thai ID for verification-a process that took five days. These aren’t isolated cases; they’re systemic problems.
Should You Use HTX in Thailand?
Here’s the bottom line: HTX is great for experienced traders who need access to global markets and altcoins. Its liquidity and fee structure suit high-volume activity. But if you’re new to crypto or prefer Thai-language support, Bitkub or Satang are safer bets. HTX’s regulatory gaps and slow service create unnecessary risk. If you still choose HTX, use PromptPay for deposits, avoid large withdrawals during market volatility, and join HTX’s Telegram support channel (@HTX_Thailand) for faster help. Remember: in Thailand’s crypto scene, compliance isn’t optional-it’s survival. With HTX’s SEC registration deadline looming, now’s the time to decide if this exchange fits your needs.
Is HTX legal in Thailand?
HTX operates in Thailand without full regulatory approval. While it’s listed among seven recognized exchanges by the Securities and Exchange Commission, it hasn’t completed the required SEC registration under Thailand’s 2024 Digital Asset Act. This creates legal uncertainty, and HTX faces a December 31, 2025 deadline to comply. Until then, it’s technically operating in a gray area.
How long does KYC take on HTX for Thai users?
HTX’s KYC process averages 28 hours for Thai citizens based on MoneyTransGuide’s April 2025 data. However, real-world experiences vary widely. Some users report approval in 12 hours, while others (like those on Pantip.com) document delays up to five days due to repeated selfie submissions or document rejections. Bitkub’s average is 12 hours, making it faster for Thai users needing quick verification.
Does HTX support Thai Baht deposits?
Yes, HTX supports Thai Baht deposits through bank transfers, credit cards via Banxa (with 3.5% fees), and PromptPay (since May 1, 2025). PromptPay deposits process in 15 minutes, but bank transfers take 1-3 business days. Withdrawals to Thai banks remain slower-often 24-72 hours-compared to Bitkub’s instant THB withdrawals. HTX’s partnership with Kasikorn Bank (scheduled for Q3 2025) may improve this, but nothing is confirmed yet.
Is HTX better than Bitkub for beginners?
No. Bitkub’s fully Thai-language interface and simpler design make it far better for beginners. Coin Bureau’s 2025 usability test showed Thai novices took 47 minutes to complete their first trade on HTX versus 22 minutes on Bitkub. HTX’s complex interface and English-dominant menus create unnecessary friction. Bitkub also offers instant THB deposits/withdrawals and 12-hour KYC approval-critical for new users who want quick access to funds.
What’s HTX’s biggest risk for Thai users?
Regulatory uncertainty. HTX hasn’t completed Thailand’s required SEC registration, and its Seychelles-based operation doesn’t meet local compliance standards. If the SEC forces HTX to shut down (like Binance in 2024), users could lose access to their funds for months or years. This risk outweighs HTX’s advantages for most Thai traders, especially those holding significant assets.
Jenna Em
October 22 2025The shadows whisper that every exchange hides a deeper agenda.
Stephen Rees
October 22 2025When you stare at the ledger of an exchange you begin to see patterns that most people dismiss as coincidence. The fact that HTX operates in a regulatory grey zone is, to me, a symptom of a larger orchestration. Perhaps the powers that be prefer chaos to keep control, and the average trader becomes a pawn. Still, the data on withdrawal delays suggests something is amiss.
Katheline Coleman
October 23 2025Dear community, I would like to commend the thoroughness of the review presented. It would be beneficial to juxtapose the fee structures of HTX with those of its local competitors in a tabular format for enhanced clarity. Moreover, could the author provide insights into the long‑term sustainability of HTX’s cold‑wallet strategy?
Amy Kember
October 23 2025HTX’s interface feels like a maze; every click adds friction. If you’re not a pro trader you’ll waste time-45 minutes isn’t acceptable. Simpler design, please.
Evan Holmes
October 23 2025Looks like another overhyped platform.