C AMBODIA'S Royal Group, with 50 percent private Malaysian partners, have moved into the potentially rich market of foreign exchange (Forex) trading. Royal Cambodian Trusts and Investments will accept $2,000 minimum deposits from people wanting to speculate on fluctuations between the dollar to the yen, deutchmark, franc and pound. The company, which begun trading on April 18, also offers dealing in gold and silver.
General manager Bert Lim said many local companies now in the forex market allowed investors to trade "based on their feelings." "Those companies provide no market forecasts. They don't teach proper trading techniques nor offer any data on which to base rational decisions... people begin to play the markets like they would a casino, and there are heavy losses being made," he said. "Companies allow speculators to lie around in deck chairs on their premises, sleeping with blankets and pillows. While they sleep they lose their money." "We are not going to encourage that.
We will have banks of monitors where investors can watch their investments and talk with our marketing executives, and take calculated risks based on solid information," he said. Forex trading has become increasingly popular as satellite dishes allow "real time" trading, and more business people invest in forex markets to hedge against damaging currency fluctuations.
However, for every 10 people wanting hedging facilities, there are as many as 90 more speculators who "play" the forex market for thrills and profit. "You would be surprised how much money is around," Mr Lim replied to doubts expressed whether people with money would bother with sophisticated forex markets.
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