If you ever thought about launching a forex trading business, choosing the location was definitely one of the first aspects on your to-do list. Or, if you happen to be in this situation, we have one suggestion for you: South Korea.
The Asian country is considered by experts as one of the best countries in which you can base your business for quite a few reasons. And we’re going to go through the most important, in order to better understand why we’re recommending it as well.
Probably the main reason why you should choose South Korea is the fact that brokers don’t charge a commission for executing orders.
Sure, trading forex as a sole trader indeed requires paying income and corporation tax, but since you’re based in this country, you will be able to maintain these liabilities at a minimum.
As a side note, corporate taxpayers in South Korea operate within relatively low thresholds, which can be a great plus for anybody who wants to start a business!
Access to the Asian Trading Session
It’s well known that the global forex market is split across three big sessions: European, North American, and Asian. And the latter has one big advantage: running from 11 pm until 8 am GMT, with a one-hour crossover at the beginning of the European market each day. Additionally, it sees its peak trading levels for some of the most powerful currencies, like the Russian Ruble, the Australian Dollar, or the Japanese Yen.
If based in Korean, you can easily access the Asian trading session with ease, not to mention the possibility to benefit from some of the best business hours, suiting peaks in demand, but also volume.
Additional trading opportunities
Over the past years, South Korea made a name for itself by ‘achieving’ a mixed economy, driven by renewable energies. Besides this, the Asian giant is open to foreign investment and expertise when it comes to developing green technologies!
For you, as a business owner, it means additional trading opportunities, which is excellent news for any forex company that’s looking forward to diversifying and expanding into new markets over time. Not to mention the potential to attract foreign investment!