Can individuals participate in the Forex exchange?

Foreign exchange trading or Forex - Foreign Exchange is understood as the activity of exchanging one type of currency for another.

Clause 27, Article 1, Ordinance Amending the Foreign Exchange Ordinance of 2013 stipulates:

Principles of conducting foreign exchange business and providing foreign exchange services:

- Credit institutions, foreign bank branches, and other organizations are permitted to conduct foreign exchange business and provide foreign exchange services domestically and internationally after obtaining written approval from the State Bank of Vietnam.

- The State Bank of Vietnam regulates the scope of foreign exchange business, the provision of foreign exchange services domestically and internationally, and the conditions, processes, and procedures for approving the foreign exchange business and the provision of foreign exchange services by credit institutions, foreign bank branches, and other organizations.

Therefore, an individual cannot engage in foreign exchange business. Only credit institutions, foreign bank branches, and other organizations are permitted to conduct foreign exchange business and provide foreign exchange services domestically and internationally after obtaining "written approval from the State Bank of Vietnam."

Respectfully!