What Pi Financial does

Pi Financial, operating as Pi Securities Public Company Limited (บริษัทหลักทรัพย์ พาย จำกัด (มหาชน)), is one of Thailand's oldest securities brokerage firms, established in 1966 as Member No. 3 of the Stock Exchange of Thailand (SET) and regulated by the Securities and Exchange Commission (SEC). The company operates 650+ employees across 8 offices with a diverse team of 7 nationalities, serving retail investors, high-net-worth clients, and institutional customers with a comprehensive multi-asset investment platform covering Thai equities (750+ securities), international equities (US and Hong Kong markets via Depositary Receipts), mutual funds (1,800+ across 18 asset managers), derivatives (TFEX and CME Group via MetaTrader 5), bonds, securities borrowing and lending, structured notes, and private fund management.

The company's core technology platform is the proprietary Pi Financial mobile application (iOS/Android), which integrates Thai and global securities trading, mutual funds, derivatives, and bonds into a single unified interface. Supporting infrastructure includes automated THB-to-USD currency conversion for international equity trading, 24-hour deposit/withdrawal capability, and multi-platform distribution through MT5, eFinTradePlus, iFisE, and iFisD. The firm holds the #1 market share position in TFEX derivatives with 7 consecutive TFEX Best Awards (2019-2025) and manages over 100 billion THB in client assets.

Pi Financial's business model combines transaction-based revenue (brokerage commissions across multiple asset classes, derivatives trading fees, SBL fees) with professional services revenue (Private Wealth advisory and portfolio management fees, investment banking services for institutional clients). The go-to-market motion is hybrid: product-led growth through the self-serve Pi app for retail investors, combined with relationship-based enterprise sales for institutional clients and Private Wealth HNW segments via dedicated investment advisors and co-marketing seminars with asset management partners. The company received a $10M strategic investment from Koo Group in January 2024, and in June 2026, Webull announced an agreement to acquire Pi Securities for approximately $100 million through a share purchase with Country Group Holdings, pending regulatory and shareholder approvals.

Name

Pi Financial

Legal name

บริษัทหลักทรัพย์ พาย จำกัด (มหาชน)

Website

https://pi.financial

Company type

Public

Founded year

1966

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Pi Financial (Pi Securities) is a Thai securities brokerage established in 1966 as Member No. 3 of the Stock Exchange of Thailand, offering retail, HNW, and institutional clients a multi-asset digital trading platform covering Thai and international equities, derivatives, mutual funds, and bonds, with over 100 billion THB in client assets.

Ownership category

akta.pro rank

Product category

Securities Brokerage

NAICS

Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (523940), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industries

Investor Education, Research & Portfolio Analytics Services (Retail) (FSAAAAAO), Retail Investment Products (RIPs) & Packaged Products (PRIIPs/KIDs) (FSACAMAN), Sector/Thematic Equity (Active) (FSAAAIAG)

Keywords

• Securities brokerage services
• Investment advisory services
• Wealth management
• Derivatives trading
• Asset management

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Brokerage Commissions: Transaction-based fees from securities trading (Thai equities, international equities, derivatives, bonds) with commissions per trade
2. Margin Interest Income: Interest income from margin lending (Credit Balance accounts) and securities borrowing/lending (SBL) services
3. Private Wealth Advisory Fees: Advisory and portfolio management fees from Private Wealth services and private fund management for high net worth clients
4. Derivatives Trading Fees: Commission income from TFEX (Thailand Futures Exchange) and global derivatives trading via MT5
5. Depositary Receipt Services: Fees from DR03 products enabling international equity access through Thai exchange infrastructure

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Pi Financial (operating as Pi Securities Public Company Limited) is a Thai securities brokerage providing retail and institutional investors with multi-asset trading access through the proprietary Pi Financial mobile app and supporting platforms (MT5, eFinTradePlus, iFisE, iFisD). The product portfolio spans Thai equities, international equities, TFEX and global derivatives, mutual funds, bonds, structured notes, securities borrowing and lending, depositary receipts, block trades/SSF, complemented by Private Wealth management, institutional equities, and investment banking services.

Product overview

Pi Securities (Pi Financial) is a comprehensive securities brokerage platform operating as a unified digital brokerage with multiple integrated products and services. The core offering includes the Pi Financial mobile application that serves as the primary interface for retail investors, supported by multiple trading platforms (MT5, eFinTradePlus, iFisE, iFisD). The product portfolio covers retail investor services (Thai equities, global equities, derivatives/TFEX, mutual funds, bonds, SBL, structured notes, block trade/SSF, depositary receipts/DR), institutional services (institutional equities, investment banking), and wealth management (Private Wealth, Private Fund). The company operates as a SET member with over 50 years of experience, providing both digital-first mobile access and professional advisory services.

Differentiator

Problem solved

Functional benefit

Products and services

• Pi Financial App Mobile-first investment application enabling trading of all securities types including Thai and global equities, derivatives, mutual funds, and depositary receipts in one unified interface.
• Thai Equities Trading Online stock trading on SET and mai markets with access to 750+ securities including stocks, warrants, ETFs, DW, and DR products.
• Global Equities Trading International stock trading enabling investment in US and Hong Kong markets with automatic currency conversion and 24-hour deposit/withdrawal capability.
• Derivatives (TFEX) Futures and options trading covering SET Index Futures, Options, Single Stock Futures, Commodity Futures, and Currency Futures on Thai Futures Exchange.
• Mutual Funds Fund supermarket offering access to over 1,800 mutual funds from 18 asset management companies, including RMF, SSF, TESG, and tax-saving funds.
• Bonds Corporate bond trading with access to both primary market (IPOs) and secondary market OTC trading, including various credit ratings and tenors.
• Securities Borrowing and Lending (SBL) Securities lending service allowing lenders to earn fees on holdings and borrowers to access securities for short selling strategies.
• Structured Notes Equity-linked notes including Principal-Protected Notes (PPN), Equity-Linked Notes (ELN), Fixed Coupon Notes (FCN), and Knock-in/Knock-out Notes (KIKO) for portfolio enhancement.
• Block Trade / Single Stock Future (SSF) Single stock futures trading with lower capital requirements, two-way trading capability, and potential dividend returns.
• Depositary Receipts (DR / DR03) Foreign securities instruments allowing Thai investors to access global stocks, ETFs, and indices through Thai stock exchange with tax-free capital gains.
• Global Derivatives via MT5 International derivatives trading via MetaTrader 5 platform accessing CME Group markets including precious metals, equity indices, cryptocurrency, energy, and currency futures.
• Private Fund Discretionary wealth management with personalized asset allocation, professional fund managers, and access to diverse asset classes including alternative investments.
• Institutional Equities Professional services for institutional investors including equity trading, bondholder representation, and access to Thai capital markets.
• Investment Banking Corporate finance services including IPO execution, M&A advisory, and corporate restructuring for institutional clients.
• Private Wealth Services Exclusive wealth management service under Your Exclusive Wealth Partner concept, offering personalized financial advisory for high-net-worth clients.

Quantifiable outcome

• Over 100 billion THB client assets managed
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, supporting and strategic.

• CME GroupcoreTechnology or Integration · 8 January 2026Launched Global Derivatives trading via MT5 platform, providing access to CME Group's worldwide derivatives markets including precious metals, equity indices, cryptocurrency, and agricultural products.
• Kasikorn Asset Management (บลจ.กสิกรไทย)supportingGTM or Marketing Partner · 15 August 2025Joint seminar with Kasikorn Asset Management for Private Wealth clients, sharing H2 2025 investment perspectives.
• MFC Asset Management (บลจ.เอ็มเอฟซี)supportingGTM or Marketing Partner · 15 August 2025Joint seminar with MFC Asset Management for Private Wealth clients, showcasing exclusive investment opportunities.
• Macquarie (DW28)supportingGTM or Marketing Partner · 1 July 2024Co-marketing partnership for 'DW28 The Master By Pi' Season 2 trading competition with prizes over 100,000 THB.
• AWS (Amazon Web Services)coreTechnology or Integration · 18 June 2024Cloud technology partnership with AWS to enhance financial technology services, developing cloud-based solutions for improved customer experience.
• VelexastrategicTechnology or Integration · 23 April 2024Strategic partnership with Velexa, a leading WealthTech innovator, to revolutionize international equity trading capabilities through technology integration.
• InvestcorpstrategicStrategic or Co-development Partner · 5 April 2024Strategic partnership with Investcorp to transform wealth management services in Thailand, launching Pi Private Wealth under 'Your Exclusive Wealth Partner' concept.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Phillip Securities (Thailand): Part of Singapore-based PhillipCapital group, offering Thai and international online trading via POEMS platform. Competes with Pi in retail multi-asset brokerage and cross-border securities access.
• Finansia Syrus Securities (FSS): Thai retail-focused brokerage with online trading platform, mutual funds, and derivatives. Direct competitor to Pi in the Thai retail online brokerage segment.
• Bualuang Securities: Securities subsidiary of Bangkok Bank, providing full-service Thai brokerage, online trading, mutual funds, and investment banking. A bank-affiliated incumbent directly competing with Pi for Thai retail and institutional clients.
• CGS-CIMB Securities (Thailand): Joint venture between China's CGS and Malaysia's CIMB, providing Thai and ASEAN brokerage plus investment banking. Competes with Pi in retail trading and equity capital markets.
• Asia Plus Securities: Mid-sized Thai securities firm offering online trading, investment banking, and wealth management. Competes with Pi in Thai retail brokerage and equity underwriting.
• Yuanta Securities (Thailand): Subsidiary of Taiwan-based Yuanta Group, providing Thai securities brokerage, derivatives, and wealth services. Direct competitor to Pi in retail trading and TFEX derivatives market share.
• KGI Securities (Thailand): One of Thailand's largest securities firms offering online trading, derivatives, mutual funds, and wealth management. Directly competes with Pi across retail brokerage, TFEX derivatives, and investment banking in the Thai market.
• KTBST Securities: Securities arm of KTB (Krung Thai Bank) group, offering full-service Thai brokerage, derivatives, and investment banking. A bank-affiliated incumbent that competes with Pi across multiple product lines.
• Webull: Global digital brokerage operating mobile-first multi-asset trading platforms. Acquiring Pi Securities for US$100M; comparable as a digital-native multi-asset broker targeting retail investors with similar product breadth.

Broad incumbents

• Interactive Brokers: Global multi-asset online broker with broad international market access and institutional capabilities. Comparable to Pi's MT5/CME international derivatives offering, though serving a different (more global) client base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@pifinancial
• Facebookfacebook.com/pifinancial
• Instagraminstagram.com/pifinancial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pi Financial