BOT Warns Unlicensed Forex Trading Illegal in Thailand
The currency trading ads that pop up on Facebook, TikTok and LINE groups tend to make the same pitch: a small starting stake, profits every day and a coach on hand to guide you. What they rarely mention is that the Bank of Thailand (BOT) treats taking money from people in Thailand to trade foreign currency through unlicensed websites or platforms as an offence under the countrys exchange control law, whether the person doing the recruiting is in Bangkok, in Chiang Mai or claims to run a company registered overseas.
The currency trading ads that pop up on Facebook, TikTok and LINE groups tend to make the same pitch: a small starting stake, profits every day and a coach on hand to guide you. What they rarely mention is that the Bank of Thailand (BOT) treats taking money from people in Thailand to trade foreign currency through unlicensed websites or platforms as an offence under the countrys exchange control law, whether the person doing the recruiting is in Bangkok, in Chiang Mai or claims to run a company registered overseas.