Has anyone tried logging into ThinkOrSwim with their US-based TD Ameritrade account while staying in Thailand?

[wml22]

I've founds some threads which mentioned TD Ameritrade not allowing trading while in Thailand, but it's not clear what is or isn't possible.

 

To explain the context of my question: Unlike Vietnam, Laos or Cambodia, Thailand is unfortunately on the "restricted countries list" for TD Ameritrade. (I understand that TD Ameritrade Singapore offers accounts to residents of Thailand but it's a different platform in some ways.)

 

I am a US citizen with a US-based Ameritrade account who plans to be in Thailand for some length of time. I haven't been able to figure out an answer to these questions:

 

When people are saying they can't use ThinkOrSwim in Thailand with a US-based account:

 

1. Does that just mean that TD Ameritrade in the US (not TD Ameritrade Singapore) refuses to open or maintain accounts that have Thai home addresses or Thai bank accounts linked to them?

2. Or does it mean that the ThinkOrSwim desktop application is geofenced to prevent logging in from a Thai IP address?

3. If the ThinkOrSwim desktop application is not geofenced to prevent logging in from a Thai IP address, would doing so later create the risk that TD Ameritrade will shut down your account? Has anyone ever heard of this happening?

 

It seems absolutely crazy to me that an American tourist on vacation in Thailand, for example, cannot check their stock portfolio during the vacation, or that logging in to do so (if the ThinkOrSwim app isn't geofenced) might result in suspension or forced closure of their Ameritrade account.

 

It's been impossible to find out clear answers to these questions and I'd be really grateful if anyone here knows the answers to some of these questions from experience.

[KeeTua]

The TOS desktop app works fine here in Thailand no VPN required. I've been using it several years. The USD/THB chart stopped updating for me on 6.1.2020 can you check if that's the same case for you?

[wml22]

10 minutes ago, KeeTua said:

The TOS desktop app works fine here in Thailand no VPN required. I've been using it several years. The USD/THB chart stopped updating for me on 6.1.2020 can you check if that's the same case for you?

Interesting. I am currently in the US and the USD/THB chart doesn't load for me either. 

 

Thanks for reporting that you're able to use ToS without a VPN, glad to know!

 

As far as I can determine after hearing more about this topic, TD Ameritrade doesn't geofence access in a restricted country unless that country is an OFAC restricted county. I was told that "it is only OFAC restricted counties where you can’t and if an IP address from an OFAC restricted country is detected, the account will be immediately restricted" - these are countries that are singled out by the US government for political reasons such as Iran, North Korea, etc.

 

So it would seem that TD Ameritrade probably won't geofence TOS to reject Thai IP addresses as long as Thailand isn't an OFAC restricted country, but one's US account could be suspended if trying to update the account profile with a Thai address, Thai bank account, and/or maybe a Thai phone number (?). The issue seems to be that they don't want you using TOS within Thailand because they don't want anyone using it inside Thailand who is a tax resident of Thailand.

 

From my further research it also seems that opening an account with TD Ameritrade Singapore while a resident of Thailand would require having a Thai tax ID, so unless you had a work permit, it would be impossible to do that.

[wasabi]

I used thinkorswim for years in Thailand and never had a problem.

[skatewash]

On 8/9/2021 at 6:15 AM, wml22 said:

Interesting. I am currently in the US and the USD/THB chart doesn't load for me either. 

 

Thanks for reporting that you're able to use ToS without a VPN, glad to know!

 

As far as I can determine after hearing more about this topic, TD Ameritrade doesn't geofence access in a restricted country unless that country is an OFAC restricted county. I was told that "it is only OFAC restricted counties where you can’t and if an IP address from an OFAC restricted country is detected, the account will be immediately restricted" - these are countries that are singled out by the US government for political reasons such as Iran, North Korea, etc.

 

So it would seem that TD Ameritrade probably won't geofence TOS to reject Thai IP addresses as long as Thailand isn't an OFAC restricted country, but one's US account could be suspended if trying to update the account profile with a Thai address, Thai bank account, and/or maybe a Thai phone number (?). The issue seems to be that they don't want you using TOS within Thailand because they don't want anyone using it inside Thailand who is a tax resident of Thailand.

 

From my further research it also seems that opening an account with TD Ameritrade Singapore while a resident of Thailand would require having a Thai tax ID, so unless you had a work permit, it would be impossible to do that.

You can get a Thai Tax ID without ever having a work permit.  I have.  How else can people get back the tax withheld on their interest earnings on a fixed deposit account if they can't get a Thai Tax ID and file a Thai Personal Income Tax Return?  In other words, needing to file a Thai Personal Income Tax Return to reclaim your tax withheld on interest earnings is a legitimate reason for needing a Thai Tax ID and obviously one can have a bank account that earns interest irrespective of whether one has a work permit or not.

[HKexpat]

Do you have to file a thai tax return if you get a tax ID?  Is it complicated to do this on your own or do you use an accountant?  
Thanks. 

[skatewash]

13 minutes ago, HKexpat said:

Do you have to file a thai tax return if you get a tax ID?  Is it complicated to do this on your own or do you use an accountant?  
Thanks. 

No, you don't have to.  There are minimum income requirements in Thailand that trigger filing a Thai Tax return (from memory I think 150,000 baht).

If you are only filing to reclaim tax withheld they might even do your tax return for you at the revenue department when you apply for your Tax ID.  Then use that return as a template for future years just plugging in the new numbers each year.

You can do online.  I do.  I use the Chrome browser which does Thai to English translation and occasionally need to use Google Lens app on my phone to translate some of the buttons.  It's not too difficult.

[HKexpat]

Perfect thanks for the help.