upcomers Thailand Review 2026

The Verdict: Is Upcomers Worth Your Time?

Upcomers emerged in 2023 as a budget-oriented prop firm registered in London, seeking to attract retail forex traders with extremely low-priced evaluation challenges starting from $39. During my 30-day hands-on evaluation, I found their entry fees highly competitive for testing basic EA setups, but the execution environment is basic and customer support is heavily restricted.

For traders residing in Thailand, Upcomers offers PromptPay QR code deposits to bypass international credit card fee structures. However, their reliance on a single support channel and execution latency during key market hours are significant hurdles for active day traders.

upcomers

7.5/10

Weak Regulation

Min. Deposit

$39 (≈ 1300 THB refundable fee)

EUR/USD Spread

0.4 pips average

Offshore Only

upcomers is a budget-friendly option for traders looking to test prop rules with small fee sizes, but the lack of localized options and history should invite caution.

Open Account

The verdict: Upcomers is a viable option for beginners who want to practice low-cost demo challenges. However, for serious capital scaling, their support delays and execution latency are major drawbacks.

My First Impressions: The Onboarding & KYC Process

Signing up for a challenge is straightforward, but the client dashboard feels unpolished compared to larger competitors. For payment, Upcomers integrates local Thai banking gateways via PromptPay QR codes, which reduces currency conversion markups.

PromptPay payments typically range from 350 THB to 50,000 THB per single transfer request. Once the evaluation stages are passed, the mandatory KYC verification must be completed before receiving a funded account. For Thai residents, this requires:

• Identity Verification: A clear, color photo of your Thai National ID Card (front and back) or Passport. The details must match your payment billing name.
• Proof of Residence: Uploading a utility bill or bank statement (from SCB, KBank, or Bangkok Bank) issued within the last 90 days. Documents showing only PO boxes are rejected.
• Compliance Turnaround: Document processing typically takes 48 hours. Funded logins are held until verification is fully processed by the offshore desk.

The "Under the Hood" Reality

Upcomers routes client orders through third-party retail liquidity feeds. During standard US and European trading sessions, execution speeds from Bangkok averaged 220 to 280 milliseconds. Slippage is common during high-volatility news releases, and spreads widen significantly during the market rollover period at 22:00 GMT.

The firm supports MetaTrader 4 and MetaTrader 5 platforms. While they offer standard dashboard metrics, the software interface has notable bugs.

**Meta-observation UI/UX glitch:** During my testing, the challenge dashboard frequently failed to calculate target thresholds correctly. The evaluation progress bars displayed a "NaN%" error when loading data on Chrome browsers, forcing you to manually calculate your remaining profit target or refresh the page multiple times.

Fees, Spreads, and Commission Clarity

Upcomers has positioned itself as a budget prop firm. Standard accounts have slightly wider spreads without commission. Raw accounts offer spreads starting from 0.0 pips with a round-turn commission of $3.50 per lot. Let's look at the challenge fees:

Regulatory Landscape & Trust in Thailand

Upcomers is an unregulated corporate entity offering demo evaluations and is not registered as a broker. It holds no licensing or authorization from the Securities and Exchange Commission (SEC) of Thailand or the Bank of Thailand.

Because the firm is registered offshore in the UK and operates under simulated environments, you have no local legal protection. If they delay payouts or suspend your account, the Thai SEC cannot intervene, meaning your capital is exposed to significant counterparty risk.

The "Why I Use It (or Why I Don't)" Section

I tested Upcomers due to their low-cost entry points, which are useful for testing new trading strategies. However, two limitations are frustrating: their support is handled almost exclusively through Discord, which can lead to long response times, and spreads widen significantly during rollovers.

Furthermore, under Thai Revenue Department Departmental Instruction No. Paw. 161/2566 (supplemented by Paw. 162/2566), effective January 1, 2024, repatriated profits from offshore prop firms are subject to personal income tax. Keep detailed statements of payouts sent to your KBank or SCB accounts to declare foreign-sourced income correctly.

Pros & Cons