Careful about 'online money trading'

Recently, in Ho Chi Minh City, a number of foreign companies and representative offices have appeared through the Internet to offer attractive offers to encourage people to spend money to participate in the business. Foreign financial market online. However, according to financial experts, this business contains a lot of risks for "merchants" who trade online.

According to financial experts, in the trend of globalization, foreign currency trading, gold and silver, super border securities is very normal. However, in Ho Chi Minh City, the appearance of a number of companies outside the commercial banking system that are mobilizing capital to trade currencies online with high commitment is quite risky for investors, especially When there are disputes, frauds, investors will not find legal support.

According to Mr. Tran Dac Sinh - Director of Ho Chi Minh City Securities Trading Center: ' There is a phenomenon in Vietnam that some investors buy and sell foreign currencies, gold and securities through private companies and public companies. allowed company. I think that the problem is that the demand, but the legal basis and institutions that allow the establishment, are not met, so the case of investors is very risky . '

In fact, there are many banks in Ho Chi Minh City performing foreign currency trading online. However, due to the lack of information, the people almost do not know the addresses of foreign currency trading under the control of the state. For example, the Monetary Business Department of Asia Commercial Joint Stock Bank - ACB. This is the place where online monetary business activities are performed in accordance with the regulations of the State Bank. Here, customers can buy the right of choice calculated according to transaction size, exchange rate and transaction term. The highest risk that customers suffer is the loss of a purchase fee if the forecast is not accurate. On the contrary, if the prediction is correct, the customer will gain profits. This year, ACB had 117 customers registering for foreign currency trading with a turnover of over USD 14 million.

When coming to banks licensed to trade in foreign currencies via the Internet, having reliable tools, investors will be protected with legal rights and avoid high risks.

Mr. Nguyen Duc Thai Han - Director of Asia Commercial Bank Asia Commercial Joint Stock Bank ACB said: ' Firstly we must be allowed and respect the current regulations of the State Bank on foreign exchange business, the second is to follow. Watching the 3rd world currency developments is having a team of business people who monitor the world market and can advise customers ".

The nature of buying and selling foreign currencies to enjoy price differences on world exchanges has contained great risks. So investors need to understand who their behavior is being protected, avoiding risk taking at any cost. Managers also need to guide investors in this new but also attractive business model.