[XM Trading: For beginners] Will office workers get fired if they do FX? Labor regulations

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Today’s world is becoming more diversified, and the era of office workers only working at companies as in the past is coming to an end. However, it is also true that many companies are outdated organizations. Will I be fired if I engage in foreign exchange transactions as a company employee?

Is FX a side business?

In the first place, do investments such as stocks and FX fall under the side business? The answer is that it depends on the work rules. Check the work rules first. Depends if it’s specified there.

However, in the current era of lifetime employment, it is better to change jobs quickly if the company prohibits side jobs. It is outdated, and it can be said that it is evidence that management’s thinking has stopped.

If there is a description in the work rules

In the case of financial institutions such as banks and securities companies, there is a risk of embezzlement, so investment may be prohibited by employment rules. Investment includes stocks and FX, of course, but there are cases where real estate and insurance are also prohibited. The financial industry is an exception. It seems that banks and securities companies sometimes check whether employees have registered accounts with Forex companies.

In the case of other industries, there is a risk of dismissal or change of employment form if it is stated that it is prohibited in the employment regulations. Employment form change means that there are cases where a regular employee becomes a contract employee. Even if full-time employees are prohibited from doing side jobs, there are many cases where contract employees are allowed to do side jobs.

If there is no description in the work rules

There is no problem if there is no mention in the work rules. Let’s invest boldly instead. However, it is absolutely NG to concentrate on trading during working hours. If you do this, you will most likely be fired. Work hard while you work.

Almost no company prohibits FX by work regulations

I mentioned the possibility of being fired as mentioned above, but in reality, few companies will fire you. In the first place, it is only the financial industry that clearly states that investment is prohibited in employment regulations. In this day and age, there are almost no companies that prohibit investment in their employment regulations. Even if you ban it, there is no guarantee that Mirai Eternal Company will take care of its employees.

When permission is required when a company employee has a side job

Permission may be required when a company employee engages in a side job. If you don’t hide this as much as possible and don’t discuss it thoroughly, you’ll end up arguing without saying anything, and it will be a troublesome situation, so I recommend you to report it properly. You should tell your immediate supervisor as soon as possible.

FX that can be done in secret

In fact, FX can be done in secret, especially at the beginning. In Japan, there is no obligation to declare up to 200,000 yen per year. Therefore, if you are a beginner, you can do it secretly even if it is prohibited. This is because if you are a beginner, it will take several years to achieve a total plus for the year. Few people can produce results in the first year. If you are on the premise of quitting the company in the future, it is important to create an account now and get used to trading little by little.

Demo trading is recommended first

Demo trading is recommended for those who are afraid to start Forex suddenly but want to try it. Demo trading does not use real money in the first place. Even if you make money, it’s virtual money, so you don’t have to report it to the company. Even if you are new to investment, you can practice trading for free without worrying about risk. If you want to start Forex as a side business, it is recommended that you first get used to it with a free demo trade. XM also has a demo account.