Binary Trading... Is It Legal In Thailand?

[WoopyDoo]

Just wondering if binary trading in the markets is actually legal here.

I do trading from here every day and have not had any problems, and most binary trading websites will usually not allow registrations from countries that have it banned, especially the USA. But all the brokering sites I have been on have accepted Thailand.

binary options trading is not any different from gambling. You place your prediction on whether an option will go up or down during a preset time frame.

I usually play the EUR/USD 60 second trades... It is no different to betting on a 2 horse race.

Surely it is seen as gambling?.... But then again all stock market trading is gambling and lets face it, Thailand has a stock exchange...... so??

[sdanielmcev]

Are you talking about forex? Currency trading in Thailand is legal. Don't know about the work permit thing, though.

[WoopyDoo]

Are you talking about forex? Currency trading in Thailand is legal. Don't know about the work permit thing, though.

Yes it does include forex trading, but also all the major markets like the Dow, FTSE and Nasdaq as well as the big corps like Apple, Microsoft etc etc....

Forex trading is legal in most countries, but binaries seem to be frowned on in a lot of countries who ban gambling. Because it is closer to playing 'hi-low' which is illegal here. As a matter of fact, it is identical to playing hi-low.

I don't have a work permit for it, I can't see how I could even get a work permit for playing binary trading online to be honest. But I don't really think I could be caught anyway, if indeed it was subject to WP requirement. After all..... People have the right to oversee their personal investments, I can't see how that could be considered working, and it certainly does not fall into a category of safeguarding jobs for the Thais which the WP is in fact fundamentally designed for.

But that aside....

Where can I find relative advice on the subject?... Tried google, but nothing really.. Was hoping if anyone already knew the answer, or of anyone arrested for it (if in fact it was illegal).

[trd]

I don't see what the issue is. Presumably your broker is not based in Thailand and you are trading online.

You don't need a WP to buy and sell shares and currencies.

Edited April 16, 2014 by trd

[brit1984]

dont worry, i reckon you will be ok

a bit of gambling goes on in thailand

[trd]

Binary trading is not classified as gambling. Sitting around a table playing cards for money is. You are trading (investing) through a registered broker. If I walked into Kasikorn bank and purchased some kind of financial instrument for investment, would this be classified as work. Would I need a WP. Of course not.

[VocalNeal]

Binary trading is not classified as gambling. Sitting around a table playing cards for money is. You are trading (investing) through a registered broker. If I walked into Kasikorn bank and purchased some kind of financial instrument for investment, would this be classified as work. Would I need a WP. Of course not.

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[brit1984]

most dictionary definitions of investing could include gambling

binary trading could be described as gambling and investing

i doubt thai law includes anything specific on binary trading

i'm sure if any such law exists, it is not enforced

[WoopyDoo]

Thanks for the responses guys.

[positiveaction]

why do you care as you will not be spotted? or are you just curious why it isn't defined as gambling?

out of interest ... what do you make of some of these smplistic binary trading get rich quick systems..? do you have any approach of just view it as red black on roulette?

[bigjules007]

i think the OP is talking about the sprint markets, which is a form of forex trading, as far as im aware its the same as Daily Forecast betting (DFB) on Forex but over a preset time period, so i shouldnt imagine it will be any different from SpotFX.

[KamalaRider]

Binary trading is not classified as gambling. Sitting around a table playing cards for money is. You are trading (investing) through a registered broker. If I walked into Kasikorn bank and purchased some kind of financial instrument for investment, would this be classified as work. Would I need a WP. Of course not.

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[WoopyDoo]

why do you care as you will not be spotted? or are you just curious why it isn't defined as gambling?

out of interest ... what do you make of some of these smplistic binary trading get rich quick systems..? do you have any approach of just view it as red black on roulette?

I am curious more than anything.

I read that a bunch of folks in Patts were arrested for playing hi-low, and U thought to myself.... It is no different to what I do on my PC... I know I wouldn't get caught... But it invoked a thought of why people would risk playing a totally random game for money with a risk of prosecution when they can do it legally anyway?

Your question about what I think of these 'get rich quick; schemes.... They are usually peddled out by affiliates of binary option sites. They are 100% BS and designed to suck you in and make a deposit, then you follow the system to the letter and lose all your money.

I follow my own strategy which I actually developed as a hybrid of several of these systems and it seems to work well for me.

But even then, the market is totally unpredictable. Also the vast majority of these sites are scams, and the owners will likely never pay you if you were very successful. they can be manipulated from the back end.

A good source of info can be found on most binary option forums such as binaryoptionsthatsuck.com or forexpeacearmy.com.

They are full of real info from real traders and review most trading platforms, also full of strategies (not silly schemes).

[WoopyDoo]

Binary trading is not classified as gambling. Sitting around a table playing cards for money is. You are trading (investing) through a registered broker. If I walked into Kasikorn bank and purchased some kind of financial instrument for investment, would this be classified as work. Would I need a WP. Of course not.

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I agree.

I see it as gambling because when the clock is applied, that removes the speculative element, ot at least severely impacts it.

Edited April 17, 2014 by WoopyDoo

[Shiver]

I see what you're getting at, but since he's neither investing, buying shares, or benefiting anyone as a share seller or buyer, or a company issuing shares (esp for a currency pair, which could notionally impact country fiat values of that 'country corporation' rather than what would be usually considered as a PLC...just... slightly... maybe - eek don't take THB out of the country doing this!), it's a "Binary Bet" whether it's 0-100, a delta or other variant. If it's a 60 second bet then it'll be a tough sell trying to call it an investment rather than a gamble. In all likelyhood it probably wouldn't be flagged up in Thailand if done in moderate amounts (and there are tech solutions around that anyhow), but if you absolutely definitely want to be sure, then have someone make a bot for you that follows your rules and operates independently on a server outside of this country, preferably one that doesn't tax gambling on players winnings, and if you bring money 'into' this country, they'll be more than happy for you to spend it here.

To me it looks the same as someone betting on the underground lottery that Thailand has on the last few digits of the SET - no company on the SET index benefits 'directly'. Then again, if people 'bet' on the SET in Thailand, do any companies in that index benefit directly from that 'investment'.

For the record, a 'work' permit, if strictly enforced in its purest sense, would include breathing, since that takes work, so it's an ambiguous input looking for a boolean output. It probably falls under the category of "this is our legal system (legal being different than lawful), the former of which would beg the question "in what capacity are you asking me to 'act' in order to answer you?", but the officer in charge has full discretion to do whatever he/she decides". Just make sure that it's not the week that the painters are in.

Binary trading is not classified as gambling. Sitting around a table playing cards for money is. You are trading (investing) through a registered broker. If I walked into Kasikorn bank and purchased some kind of financial instrument for investment, would this be classified as work. Would I need a WP. Of course not.

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[I knew this would happen]

The 60 second mode of binary options is a "gamble" yes. But not in legal terms I´d say. Most "brokers" also offer 30/60 minutes and 1 day or 1 week/month as a timeframe. And then it´s not more or less of a gamble than any other investments available from "normal" banks. I also invest in stocks, FX and knock out certificates for the DAX or Dow Jones. Some products offered by banks may also lose all their value if a certain price or date is reached, could also be called "binary" All or nothing, so where´s the difference to "investing" then? I think investing used to mean you buy stocks from a company, but it has become a a much wider field with complicated and risky products.

Whenever my wife asks me why I bought this or that and I show her the chart full of drawings, lines and indicators, she always said: Ah, so you´re trying to figure out if it´s going up or down, you bet on high or low. It´s always a game somehow, you just call yourself investor or trader instead of gambling addict.

Legal status? Greyzone maybe, investing is ok in Thailand, so why to worry. Work permit? Why? You´re not taking away any Thai job, you don´t have a shop, you don´t do it in public, you don´t register a company, you don´t hire anyone, you´re not in competition to someone, you´re not selling anything, you´re not creating anything. Wouldn´t call this work.

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Edited April 19, 2014 by I knew this would happen

[Shiver]

I don't know the legal definition of gambling vs investing (maybe a Latin entomology site could clear that one up - haven't looked), but I'd take a wild stab at it being both a time based thing, and also putting your resources into a company you believe could thrive, rather than a high/low outcome of a card game or dice roll. The pack of cards is not something that can be 'invested' in.

The 60 second mode of binary options is a "gamble" yes. But not in legal terms I´d say. Most "brokers" also offer 30/60 minutes and 1 day or 1 week/month as a timeframe. And then it´s not more or less of a gamble than any other investments available from "normal" banks. I also invest in stocks, FX and knock out certificates for the DAX or Dow Jones. Some products offered by banks may also lose all their value if a certain price or date is reached, could also be called "binary" All or nothing, so where´s the difference to "investing" then? I think investing used to mean you buy stocks from a company, but it has become a a much wider field with complicated and risky products.

Whenever my wife asks me why I bought this or that and I show her the chart full of drawings, lines and indicators, she always said: Ah, so you´re trying to figure out if it´s going up or down, you bet on high or low. It´s always a game somehow, you just call yourself investor or trader instead of gambling addict.

Legal status? Greyzone maybe, investing is ok in Thailand, so why to worry. Work permit? Why? You´re not taking away any Thai job, you don´t have a shop, you don´t do it in public, you don´t register a company, you don´t hire anyone, you´re not in competition to someone, you´re not selling anything, you´re not creating anything. Wouldn´t call this work.

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[sanook2me]

OP...

Are you making money at this?

I have been learning and trading forex for about 3 years....and I am a losing to break even person...no way to support myself yet...

How do you get on and are you making money???

[smotherb]

Binary trading is not classified as gambling. Sitting around a table playing cards for money is. You are trading (investing) through a registered broker. If I walked into Kasikorn bank and purchased some kind of financial instrument for investment, would this be classified as work. Would I need a WP. Of course not.

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[Benjamin87]

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