Online Trading

[JTH1]

Hi Everyone.

 I settled in Thailand a year ago from Australia, and would be interested to hear from anybody Trading Online.

I was actively trading CFD's in Australia with IG Markets and also using E-Trade when needed.

Both of these platforms needed an Australian Bank Account and were liable for Australian Tax so closed both before moving to Thailand.

I have Traded a range of instruments from Stocks to Commodities, Indices and FX etc, and now settled am keen to get started again.

The questions I have are the HOW, you go about Trading in Thailand and how you protect yourself and your assets.

1. Is the Thailand Stock Exchange worth Trading.

    

• • • Do you use a broker or an online platform.

    • Are you exempt from Thailand Tax if you Trade their market. Eg through Kasikorn Bank etc

    • Do they offer protection in the form of stop losses.

       

1. CFD's

    

• • • What CFD provider can you trade through living here. I checked with IG in Singapore and they stated I had to have a Singapore Work permit and bank account.

    • If you do Trade CFD's here, who do you use, and does the provider offer GSLO's (guaranteed stop losses) on their instruments.

       

1. Commodities, Indices, FX, ETF's etc

    

• • • If anyone is living here permanently like me, and trading any of the above, I'd be interested to here who they use to Trade these instruments.

    • Most of all I'd like to hear how you manage the risk. For me this is the important part, not the name of the instrument which means nothing.

       

      Thanks in advance,

      Jak

[Pattaya46]

Hi

As it's not about Bitcoins & Co, maybe better if this topic was in Jobs, economy, banking, business, investments forum 

 

Yes you need a trader to trade on the SET, but many (most? all?) have an online platform. I personally use Bualuang Securities and know people using AECS or MayBank, but I can't help to compare them...

 

Opening an account was easy - I just needed my passport and a bank account  (traders are not banks!) - but I had a lot of documents and forms to read, fill and sign...

 

I trade only on Equity and nearly only stocks from the Thai SET50  (that are - theoretically - more stable)

 

In this case there are no taxes at all on your capital gains, and a 10% withholding on all dividends (that you partially get back)

 

Important news and stock details are easily available on the SET website, and on the tool Streaming developed by the SET and accessible from most traders. The auto-translate of Chrome browser can help a lot to follow news on sites such as Kaohoon.

 

Hope that helps you 

[moana]

Why would you want to trade on the Thai exchange? Just because you happen to reside here? Seems like faulty reasoning. Get yourself an account with an international broker, like Interactive Brokers (Thai residents welcome), and start trading on all major world exchanges, including several Australian ones, if that's still of any interest to you.

IIRC, IB will even let you transfer AUD directly to them using a local bank transfer within AU. Once the funds arrive, you'll be able to convert to any currency at the live mid-market rate, with a ridiculously low fee (0.002% with a minimum of US$2, that means converting AU$200K will cost you US$3 and result in US$153,673 as of today). Trading fees are just as shockingly low.

[phycokiller]

11 hours ago, moana said:

Why would you want to trade on the Thai exchange? 

I presume because its convenient if you have a Thai bank account 

[JTH1]

16 hours ago, Pattaya46 said:

Hi

As it's not about Bitcoins & Co, maybe better if this topic was in Jobs, economy, banking, business, investments forum 

 

Yes you need a trader to trade on the SET, but many (most? all?) have an online platform. I personally use Bualuang Securities and know people using AECS or MayBank, but I can't help to compare them...

 

Opening an account was easy - I just needed my passport and a bank account  (traders are not banks!) - but I had a lot of documents and forms to read, fill and sign...

 

I trade only on Equity and nearly only stocks from the Thai SET50  (that are - theoretically - more stable)

 

In this case there are no taxes at all on your capital gains, and a 10% withholding on all dividends (that you partially get back)

 

Important news and stock details are easily available on the SET website, and on the tool Streaming developed by the SET and accessible from most traders. The auto-translate of Chrome browser can help a lot to follow news on sites such as Kaohoon.

 

Hope that helps you 

Thanks for the info above it all helps, and will see what best for what I want to do.

Cheers

[JTH1]

16 hours ago, moana said:

Why would you want to trade on the Thai exchange? Just because you happen to reside here? Seems like faulty reasoning. Get yourself an account with an international broker, like Interactive Brokers (Thai residents welcome), and start trading on all major world exchanges, including several Australian ones, if that's still of any interest to you.

IIRC, IB will even let you transfer AUD directly to them using a local bank transfer within AU. Once the funds arrive, you'll be able to convert to any currency at the live mid-market rate, with a ridiculously low fee (0.002% with a minimum of US$2, that means converting AU$200K will cost you US$3 and result in US$153,673 as of today). Trading fees are just as shockingly low.

For you it may seem faulty reasoning, but yes the main reason would be because it is now home. Secondly and this may seem unwise to some but all my money is in two Thai Banks. One plus is I won't need to worry about currency fluctuations affecting my account or the need to hedge an ongoing trade for the same reason.

I am not trading for activity and know that I can be profitable regardless of the exchange I'm trading. For me it's about making things as easy as possible.

 

Thanks for your comments Moana

[moana]

20 minutes ago, JTH1 said:

the main reason would be because it is now home

Sorry, but that's not a good reason. Diversification (including geographical diversification) is an important point that you are completely sidestepping. You shouldn't trade only on the Thai market, just like you shouldn't trade only on the Australian market. Australia at least represents a bigger chunk of the world markets, at 2%. Thailand? 0.6%. Are you sure you want to expose all of your hard earned money to a tiny market (in global terms), in a country controlled by whims of a military junta? I urge you to carefully reconsider your position.

Personally, I have around 0.6% of my money invested in Thailand, even though it's home :)

[JTH1]

26 minutes ago, moana said:

Diversification (including geographical diversification) is an important point that you are completely sidestepping.

I would argue that Diversification is bullshit as I know of several successful Traders who only Trade one instrument but know it well.

This is usually quoted by financial advisers or the likes as is $ cost averaging which is also bullshit.

Up to me what I do, and up to me to control the risk.

Look the trade has to be worth putting on in the first place and I'm not going into what finances I have.

Before you continue to tell me all about trading and what I should or shouldn't do I'll just say this.

I've done all above as you said but am not in the position to do so now.

My hard earned money is left behind with the x and am not in a position to trade large Commodity or Indices contracts like I was successfully before.

I also traded FX, the US and other markets and yes I know of mini contracts.

I had little to do with the OZ market as it was mostly not worth trading and I was always putting my money where the money was.

I had a charting program and was paying for data to run my scans over etc.

I'm not in that position anymore and I'm not sad, I've just got to start over, and do as I said above what I am going to do.