Thailand Bank - Stock Exchange Access

[FarAway]

Hi guys,

 

I have no international bank account anymore, just Thai Bank. I have Bangkok Bank and my wife has KrungThai.

I wanna buy stocks from the NASDAQ exchange. Is that possible to do with any Thai Bank?

 

 

[ThaiNotes]

One doesn't buy stocks through a bank - one does it through a stockbroker, so no.

 

However, there are several Thai stockbrokers that support international trading.  Perhaps the most foreigner-friendly is Phillips POEMS.  It does cover NASDAQ.

 

https://www.poems.in.th/service_detail.aspx?id=378&Markets We Offer

 

Don't expect it to be anything like as cheap as you can get in the US.

Edited January 11, 2023 by ThaiNotes

[nigelforbes]

I echo the above, brokerage fees are not cheap, factor in exchange rates and it becomes even more expensive. A far better approach is to use an offshore trading platform, preferably somewhere that has a supportive legal framework and oversight. IB may suit: https://www.interactivebrokers.com/en/home.php

[ThaiNotes]

On 1/11/2023 at 9:15 AM, nigelforbes said:

IB may suit

I suspect there would be issues funding an account and making withdrawals.  They don't accept THB.

[nigelforbes]

27 minutes ago, ThaiNotes said:

I suspect there would be issues funding an account and making withdrawals.  They don't accept THB.

Sure, but most expats here have income/savings sources in other currencies, USD, GBP or EURO etc.

[ThaiNotes]

3 hours ago, nigelforbes said:

Sure, but most expats here have income/savings sources in other currencies, USD, GBP or EURO etc.

Check what the OP wrote.

[NoDisplayName]

You want to pick your own stocks, or let a mutual fund manager do it?

Bangkok Bank and Kasikorn have a very limited selection of foreign stock mutual funds available.  Fees are high.  Much better to find an offshore broker.

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Mutual-Funds/Foreign-Investment-Funds

[ThaiNotes]

19 hours ago, NoDisplayName said:

Bangkok Bank and Kasikorn have a very limited selection of foreign stock mutual funds available.  Much better to find an offshore broker.

The banks' asset management companies typically only offer their own mutual funds.  If you use a full service broker you have access to the funds of around 19 different asset management companies in Thailand, including their FIFs.

Offshore brokers are pretty terrible for funds.  Interactive Brokers has offshore funds, but I'm not eligible to purchase any of them.  (I'm not American.)  Swissquote has a fairly wide range, around 20,000 funds, but the fees are high and the individual funds are not particularly attractive, and few are GBP-denominated (my preferred currency).  Saxo Singapore offers only around 500 funds.

[NoDisplayName]

11 hours ago, ThaiNotes said:

The banks' asset management companies typically only offer their own mutual funds.  If you use a full service broker you have access to the funds of around 19 different asset management companies in Thailand, including their FIFs.

Offshore brokers are pretty terrible for funds.  Interactive Brokers has offshore funds, but I'm not eligible to purchase any of them.  (I'm not American.)  Swissquote has a fairly wide range, around 20,000 funds, but the fees are high and the individual funds are not particularly attractive, and few are GBP-denominated (my preferred currency).  Saxo Singapore offers only around 500 funds.

 

With Bangkok Bank, many of their foreign asset funds simply hold shares of one other famous brand mutual fund - Fidelity, Legg-Mason, Wellington, Invesco. 

 

You get to pay the management fees of the branded fund, plus Bangkok Bank's management fee, plus Bangkok Bank's front and back loads. 

[ThaiNotes]

17 hours ago, NoDisplayName said:

You get to pay the management fees of the branded fund, plus Bangkok Bank's management fee, plus Bangkok Bank's front and back loads. 

True.  But you're ignoring the fact that the fund fees are typically for an institutional class, so are less than a normal retail investor would pay.  Plus you don't have FX charges and inconvenience to worry about if your wealth is in THB (as the OP's is).

 

FIFs are not perfect, but then they're not disastrous, either.  For some people they're the right solution.

 

[DrJoy]

On 1/11/2023 at 4:54 AM, FarAway said:

I wanna buy stocks from the NASDAQ exchange

You will need to open a Securities and Investment account with Kasikorn securities.

 

https://www.kasikornsecurities.com/th/open-account/foreigner

 

 

Good Luck

[ThaiNotes]

On 1/15/2023 at 2:30 PM, DrJoy said:

You will need to open a Securities and Investment account with Kasikorn securities.

According to your link you have to have Permanent Residence to do that - a non-starter for most foreigners living here.

[DrJoy]

15 hours ago, ThaiNotes said:

Permanent Residence

Not required.

 

It means you need to show a Thai address proof. The translation is not done properly.