Bangkok Forex
Thai's Look at Nz Company cushion recession
Asian investors have not forgotten the nightmare that hit their economies for a decade since, as one million were deleted from the value of assets when markets are overheated. They have been much better prepared for the recent infection, particularly in Thailand.
Just as the baht has plunged again and the financial institutions are being shaped by the recent worldwide recession, Thai investors have armed themselves against the consequences of the worsening crisis which began in the U.S. and resounded to India, Iceland, some parts of Europe and several developing countries. Thai's have been more cautious than most in trading derivatives and other financial instruments.
This is because most Thai investors are dependent on registered dealers and authorized by the Securities and Exchange Commission (SEC), including WSD Global Markets Ltd, New Zealand, the only non-bank among eight foreign-based retailers.
According to Riaz Patel, president and CEO of WSD Global Markets Ltd, the Asian crisis in the late 1990s taught Thais to be more cautious with their investments, and there has been less speculative activity.
"Even though the Asian downturn in 97/98 was caused more by a currency crisis, there are many parallels with the current credit crisis, and people in Thailand and many other Asian countries are probably better equipped today than they were ten or twelve years ago and is a little more insulated from its effects like New Zealand because they are not very leveraged, "says Mr. Patel.
"The measured method chosen to invest in WSD has probably been a chord with investors in Thailand, especially now that we've seen our business grow to the extent that we probably need to hire five more people in our Bangkok office, almost doubling the number we currently employ. "
The Thai SEC has recently registered WSD work as a derivatives dealer, because it diligently adhered to Thailand's strict rules to protect the investments of its citizens in foreign exchange and futures.
The proverb, "When the U.S. sneezes, world catches a cold, can" no longer be the case in Thailand, because we already have the antidote that filters all infection regardless of how interconnected financial markets is an SEC official told WSD.
The official said that the government registered WSD, noting its track record and integrity as well as the positive feedback that supervisors are collected from individuals and businesses, the company had earned.
Within context of WSD Global Markets Ltd, a regulated futures and option part of New Zealand Exchange Ltd. is WSD Financial USA Inc a registered futures commission merchant with the National Futures Association and the Commodity Futures Trading Commission. WSD also operates in the United Arab Emirates as a full clearing broker member of Dubai Gold and Commodities Exchange (DGCX) and is a registered investment adviser with Capital Markets Authority Ltd, Kenya.
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Can i withdraw USD from any atm at bangkok airport, using my Forex visa card?
No. Just as you wouldn’t find an ATM in any other foreign country dispensing Thai Baht.
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