Forex trading and Thai Forex trading are currency exchanges from one currency to another. For Forex trading, you will always trade currency pairs, which means selling one currency and buying another currency from financial institutions or retail investors who have currency needs and want to speculate on the direction of the movement for a specific currency pair. The benefit of the Forex market is that it is open 24 hours a day, five days a week, excluding holidays. However, it is still open for trading on weekends for some currencies if that country or world market is open as business days. Generally, currency trading is not open for individuals to trade but only banks can do currency trading. After the foreign currency trading market became more significant in the economic world, it gave brokers the opportunity to become trading agents or brokers.
Is Forex Trading Legal in Thailand?
If you look at it superficially, Forex trading is another option for making money online where taxes and other relevant issues might be involved. Currently, there is no Thai law that says that Forex trading can be done legally in accordance with Thai law. Initially, there were notifications from government agencies as follows:
- Trading investment in Forex can be done but government agencies are not responsible in all cases.
- In Thailand, there is still no enforceable law about issuing licenses for foreign companies to open a company in Thailand.
For this reason, it is very important to choose to trade with a reputable broker and broker trusted by traders to prevent risk and allow you to trade more comfortably and without worry.
Benefits of Forex Trading
Nowadays, Forex trading is becoming more and more popular among Thai people. Many people find that this channel is an extra source for earning. Also, it has become the primary income for some traders. The benefits of Forex trading can be divided as follows:
- Low investment: If you are a beginner, you can try trading with a low budget. So, it is quite safe and there is no significant loss if any incorrect predictions occur on your trading.
- Forex is considered the world’s largest financial market and with high liquidity and there is a possibility to buy and sell immediately.
Trading up or down, traders can choose to speculate according to their own needs or strategies. This is an advantage for traders that can make profits from Forex trading.
Although foreign currency trading law in Thailand didn’t exist in case of rumor-mongering or adverse events in the past, Thai law permits trading if it doesn’t involve trading disputes by government agencies. Besides, there is no law allowing foreign Forex companies to open their operations in Thailand. Therefore, it is at our discretion to choose reliable and standardized broker services.