A full guide to trading with top brokers in Laos

Laos is well-known as a great tourist destination that attract thousands of visitors every year. This landlocked country located in Southeast Asia, at the very heart of the Indochinese Peninsula is also known as the “Land of a million elephants”, and this alternative title mirrors everything that is so attractive to the tourist from all over the world – the friendly giants that inhabit these lands, and the ancient history, such as the kingdom of Lan Xang.

Lao People’s Democratic Republic occupies a total territory of 237, 955 square kilometers, and borders Myanmar, China, Cambodia, Vietnam, and Thailand. With a population of over 7.5 million people, Laos is ranked 105th country by population size.

The local economy is growing at a rapid speed, and the World Bank has already listed Laos as one of the fastest developing countries in Southeast Asia. As the economy expands, so does the interest in financial investing and active trading. More and more people are participating in Forex and CFD (Contracts for Difference) trading each year.

In this guide, we will take a closer look at how the Laotian Forex market is regulated, and discuss some other intricacies of trading Forex in the country. Moreover, we will provide you with tips on finding the best Forex broker.

List of the best Forex brokers in Laos

Currency and CFD trading is becoming super popular in Laos due to many reasons, including advancements in technology and increased accessibility. As the number of traders increase globally, so does the number of brokers. Increased competition primarily benefits traders as they get better trading conditions, however, finding the most suitable broker also becomes a challenge. To help you find the best broker, we have thoroughly reviewed many different Forex and CFD service providers and made a top brokers list. You can press on each broker to read detailed reviews.

Forex trading regulations in Laos

The main regulatory body of the country is the Bank of Lao P.D.R, which is the central bank of Laos.

Established back in 1968, the Central Bank of Lao has been responsible for stabilizing inflation, carrying out monetary policy, supervising the local commercial banks and supervising financial companies.

The economy of Laos is not stable and often experiences volatile inflation rates. To stabilize the local currency (Laotian kip), the central bank implements strict policies such as capital control and currency exchange limitations.

Currency transactions in the country must be conducted through authorized dealers, which includes commercial banks, and other financial institutions that hold the central bank’s license.

It should be mentioned that residents of Laos can also open trading accounts with global currency and CFD brokers that accept traders from the country. Often, it’s better to trade with globally regulated brokers to avoid local restrictions. In addition, global brokers typically have a larger customer base, which makes social trading easier.

Forex trading career in Laos

While Laos is not a financial hub, there are many trading firms that are looking for talented individuals to manage trading accounts. Keep in mind that trading is a global business, and you can fund career opportunities around the world. All you need to do is to prove your skills as a trader.

Citizens of Laos need to be 18 or older to be allowed to open a trading account. Career opportunities are various, including:

• Retail traders: Retail trading using your own money. Many retail traders use compounding and reinvest their profits to grow trading accounts
• Institutional traders: Institutional traders work for financial institutions such as banks, and funds
• Analysts: Financial analysts analyze markets and predict upcoming movements in the market. They sell their services to traders, prop-firms, and investment management companies
• Risk managers: Risk managers sell their services to financial institutions
• Educators and signal providers: Trading educators teach others trading strategies, platform usage, and physiology of trading. Signal providers sell trading signals to other traders.

Popular trading software programs in Laos

Since there are a lot of international Forex brokers operating in Laos, you can easily find a variety of trading platforms to choose from. Some of the options that will be available to you include the popular cTrader, MetaTrader 4, and MetaTrader 5, as well as the software that brokers have custom-made for them and that is available exclusively to their clients.

• MetaTrader 4 (MT4) – super user-friendly software that is also highly reliable. MT4 is mainly used for trading currency pairs.
• MetaTrader 5 (MT5) – this platform offers access to various asset classes, such as bonds, currencies, futures, commodities, shares, indices, and cryptocurrencies. MT5 is a bit more complex than MT4 and provides traders with increased number of timeframes, and trading indicators.
• cTrader – this platform offers slick and modern design that is very comfortable for beginners and professionals alike. Like MT5, cTrader offers large number of timeframes and pre-installed trading indicators. However, it should be mentioned that cTrader is not as popular as MetaTrader platforms.

In general, the trading platform that you will end up using will become a decisive factor that could make or break your trading career. You should, therefore, approach the choice of one carefully, and bear in mind that it will define your exposure to the various trading assets and the efficient execution of your orders.

Summary

Overall, Laos has a developing economy and financial trading is not thoroughly regulated within the country. While the main regulator is the central bank of Laos, residents of the country can open trading accounts with globally regulated brokers. Often global brokers have better trading conditions than the local ones. You can view our top recommended brokers list to find a suitable broker.

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