Introduction
One of the major benefits of working for yourself as a forex trader is that you can essentially work anywhere in the world that has a decent internet connection, providing of course that you have your laptop with you.
Therefore you can travel to other countries or other regions of the world, or even live in certain countries, and still make money.
I myself have done this, and have managed to continue trading currencies and stocks in numerous countries in south-east Asia, including Cambodia, Vietnam, Thailand and Malaysia.
So in this article I thought I would list some of the pros and cons of operating as a forex trader in this particular region of the world, based on my own experiences.
Pros
Numerous Coffee Shops and Co-Working Spaces
I think many people are surprised by how modern some of the towns and cities are when they go to countries such as Thailand, Vietnam and Cambodia.
We have all got used to having good coffee shops to work in and a selection of co-working spaces to choose from in our home countries, but most countries in south-east Asia now have top quality co-working spaces that you can work in for the whole day. Plus they also have some of the most impressive coffee shops (and the tastiest coffee) that I have ever visited.
Powerful and Reliable WiFi
Following on from the last point, these countries also have surprisingly good wifi these days as well. About 10 years ago the internet connection was notoriously unreliable, even in developed countries such as Thailand, but all that has changed now.
You will generally find that the internet connection in your condo or chosen coffee shop is just as powerful, and equally as reliable as your connection back home, if not more so, which is obviously essential if you are going to be trading forex or stocks every day.
Convenient Time Zone
Another reason why south-east Asia is a good region to trade forex is because of the favorable time zone. In the UK and Europe you need to get up early ready to start trading when the markets open at 8.00 AM, but you can take the whole morning off and relax because you don’t need to start trading until the afternoon.
Due to the time difference, the European session opens at around 2 pm or 3 pm and closes around 10.30 pm or 11.30 pm local time, which makes this a really convenient time to trade, and with the US markets opening around 8.30 pm or 9.30 pm, you still have the opportunity to trade late until the night if you like to trade the US pairs.
Potentially Cover Your Travel / Living Expenses
It is also worth pointing out that the cost of living in many of these south-eastern countries is much lower than we are used to in the western world.
Therefore as long as you are a moderately successful forex trader, you can potentially cover your travel or living expenses if you trade the markets regularly.
Experience Different Working Environment
The final benefit is that you can experience a completely different working environment in some of these developing countries.
This is not necessarily the case in places such as Ho Chi Minh City or Bangkok, but when I was working in Phnom Penh, I was regularly sat amongst monks in some of the coffee shops, which was an interesting experience because many of them would strike up a conversation with me.
Cons
Local Laws
I have never experienced any problems myself, but some countries consider currency trading to be a form of gambling, and may therefore block your chosen broker, making it impossible to trade.
So before you start living in or travelling to a particular country for a prolonged length of time, you should always check the local laws and see if you are likely to experience any problems.
Noise / Distractions
Another slight drawback of trading the forex markets in south-east Asia is that the coffee shops can be a little noisy.
Whilst many of them are good for working in, some of them do tend to play loud music and if there are several groups of friends congregated there, it can be quite a distracting environment in which to try to make profitable trading decisions.
No Social Life
The final problem is that although the working hours are very favorable, it can affect your social life if you are working on your computer every evening. South-east Asia has some of the best nightlife, so you could be missing out if you are always working.
However if this does become a problem, you could always try to find a way to make money just by trading certain hours of the day, such as the opening two or three hours of the European session, for example, so you still have the evenings to do whatever you want.
Closing Comments
Overall I would say that the pros of working for yourself as a forex trader in south-east Asia definitely outweigh the cons.
Thailand, Malaysia, Vietnam, Cambodia and the Philippines are all great countries to visit from a cultural point of view, and are all cheap to live in if you are able to stay longer.
Therefore if you can manage to support yourself trading the markets in your condo or in coffee shops and co-working spaces, you will have the means to continue travelling and experiencing the delights of this amazing part of the world.
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