Get to know spread before foreign exchange

Q: What time period is suitable for THB - USD exchange?

Q: Spread is the little things novice investors often miss.

When I was a novice investor, I started investing in U.S. stocks. There is one thing that I and my friends often miss out on ignorance. That is the importance of the period of trading in USD before buying shares. I usually like to trade money early in the evening. But when I got to know the spread of the exchange rate, it made me realize that the wrong time exchange will make us lose money. So today I will invite my friends to get to know the spread of the exchange.

Q: So why is the money exchange period important?

A: Because currency exchange rates such as THB / USD are constantly changing. According to global market mechanisms, especially the 24-hour open Forex market, Mon-Fri), but!!

The exchange rate we come across in an app or bank is the carrier's exchange rate, which often has a hidden fee or spread.

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📌 And what's the best time to exchange money?

✅ Morning - Evening (Thai Banking Hours)

Specifically, between 09: 00am and 04: 30pm will be the most liquid exchange period because banks are based on exchange rates that are close to the real market. This results in us redeeming money in a low spread or a better price rating.

❌ After 5pm or late at 1: 00am.

Many providers, such as Wise, banks and brokers, will increase their spread to hedge against risk, because the Asian market is closed and the U.S. market is not fully open. If we trade money during this time, we will get a terrible price rating.

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💡 For example...

🔆 10: 00am → Redeem 1USD = ฿32.50 (spread value 0.10 USD)

🌕 09: 30pm → Redeem 1USD = ฿32.50 (spread value 0.40 USD)

Let's say if we redeem 1,000 USD, we could unknowingly lose more money on the spread, up to ฿9,750, or about 300 USD. 😱

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💡 Conclusion: So what time should we redeem to get the best price rating?

🕘 09: 00am - 04: 30pm ✅ has the best price rating because of high liquidity, low spread.

🕠 After 05: 00pm ❌ rated price more expensive, spread wider, risk price fluctuation

⛱️ Saturday-Sunday ❌ holiday is recommended to avoid because the global market is closed, banks do not update the price rating.

💡 Tips: Personally I will play safe with redeeming during 10: 00am - 03: 00pm to reduce spread

💡 Tips: This method can be used by friends to exchange money when traveling abroad. It is the same principle.

What about your friends? What time did you trade money?

# Big money story# Investment finance # Foreign stocks # Exchange foreign money # Travel abroad