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Local Stock Broker?

Drew Aitch

By Drew Aitch
in Chiang Mai

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K2K Senior Member

K2K

Posted
Posted

Kim Eng Securities (opposite Airport Central) - they top the turnover tables on SET currently.

For exectuction they are all pretty much alike using the SETTRADE platform - fees are regulated so no difference who you chose - just be very wary of EVER taking investment advice from a (Thai) broker!

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Drew Aitch Silver Member

Drew Aitch

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Kim Eng Securities (opposite Airport Central) - they top the turnover tables on SET currently.

For exectuction they are all pretty much alike using the SETTRADE platform - fees are regulated so no difference who you chose - just be very wary of EVER taking investment advice from a (Thai) broker!

Thanks for that K2K :)

Don't worry, I've been here long enough to know that everyone's a #*./&~+ until they prove themselves otherwise :D

Aitch

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  • 1 year later...
hmltngls Newbie

hmltngls

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Do you want a broker for advice, discretionary dealing or for execution only? If it's the latter I have a contact in BKK, if that's local enough.

I am looking for an execution only stockbroker in Thailand. Would appreciate details of your contact in BKK.

Thanks

Hmltngls

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nikster Diamond Member

nikster

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To quote my friend Jacob, who was quoting somebody else (Marc Cuban, I think): A stock broker is the worst qualified person in the world if you're looking for somebody to help you invest money. The stock broker has access to all the information, he knows how it works, he trades stocks all day. Yet, he's not rich. How is that possible? That's because he's incompetent.

If the stock broker were good at what they were doing, they would not be offering their services to you. They'd be out on their yacht enjoying their riches.

Oh execution only - that makes more sense then... but couldn't you do it all online?

Edited by nikster
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PMNL Advanced Member

PMNL

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Posted

Kim Eng Securities (opposite Airport Central) - they top the turnover tables on SET currently.

For exectuction they are all pretty much alike using the SETTRADE platform - fees are regulated so no difference who you chose - just be very wary of EVER taking investment advice from a (Thai) broker!

Kim Eng is the best, Agreed.

However try www.scbsonline.com they provide demo for you to try fisrt.

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  • 1 year later...
elektrified Diamond Member

elektrified

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Does anyone know if any of the brokers mentioned in this thread have the capability of selling European shares? I will soon have the actual certificates for my shares since I will be closing my brokerage account in Europe. I'm going to hold the certificates in the safe deposit box and collect my dividends from the companies but need to know if in the event of an emergency I could sell some shares without too much hassle. They are denominated in Swiss Francs, Euros, and GB Pounds.

It has to be a straightforward operation. I need to be able to walk into an office either here or in BKK with the certificate and execute a sale if need be. No putting the certificates in the post, having to open an account, etc. Just sell and pay the commission and collect my money in local currency.

Thanks in advance.

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jsflynn603 Advanced Member

jsflynn603

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Thailand's stock exchange has a lot to offer but beware of risks.

Thailand's stock exchange is young, and Thai investors tend to be "young" also. Note that this has nothing to do with a person's age, it has more to do with the idiosyncrasies of the investors and the brokerage firms and the people who work in them. Most investors in Thailand deal with stocks as though they are in a Casino, also most volume is limited due to funds being only able to invest in certain companies with significant capex. (Total value of the company). I've heard that many brokerage firms also deal this way.

I think with China's problems, and an ever increasing influx of companies frustrated with China and it's labor issues (which I think are extremely valid, by the way) is leading money West to Thailand. I think it's the smaller companies that are traded that offer significant growth potential much of it related to the China effect. But from what I've heard most brokers simply don't pay attention to this sector, therefore a large number of Thai stock is relatively ignored.

Naturally it makes a huge difference if you have only 300,000 baht to invest, or if you have 3 million + so it's important to find a broker that suits your need. I'd suggest starting at thaistocks.com Don't be put off by the "Investment Club" wording, this guy has been around for years and does know his stuff. I just think he's trying to figure out a way to get some income for his knowledge. He has many articles, but you might have to dig for them and many pointers of great importance. For instance, if you place your money in a bank account, invest, sell some stock, withdraw and put the money into the account, and in the meantime you use that account for ordinary use (condo payments, or whatever) you may be in for the shock of your life when (if ever) you try to expatriate your money out of Thailand. It is imperative that there is an isolated and traceable path of incoming funds to Thailand, movement from and to the broker, to substantiate the income and funds and its origins. Do that and you can expropriate money out of Thailand easily. Do otherwise, and you may end up unable to move money from your brokerage/bank account out to your home country. It is imperative for most to maintain "isolated investment money!"

I believe that his site has some recommendations for brokers and which ones deal effectively with non-Thai speakers. One also wants to avoid potential "churning" (excessive buy/sell to create commissions) as well as timely execution and it sounds like getting a timely execution is often difficult. You want to find a convenient bank>broker>trading>broker>bank path. Some brokerage firms can link your bank account with your brokerage account. Beyond convenience is the fact that un-invested money is swept to the bank account to earn a bit in interest.

The following relates to investing in general, not just to the OP's question, feel free to ignore:

Of great importance also is the translation of Euros/Dollars/Pounds to and from baht. Just as a "for instance" if I purchase $5000 of Canadian stock (I'm in America) through Etrade, the fee for each transaction (let's say I buy or sell $500 for each transaction) is $19.99 in and $19.99 out. Therefore ten transactions will cost me $400 Canadian. But...and this is a big "but" when I try to sell my US$ for Canadian dollars I don't pay a fee, but I will end up paying about 2% because the exchange rate will be about 2% below the interbank rate. Thus to change into Canadian dollars I'll pay $100US and after selling to withdraw funds I'll have to pay another $100 to move back into my home currency. Thus the $5000 invested can cost me $600 looking at 10 $500 in/out trades and converting to and from the US$.

Now consider IB (Interactive Brokers). Here each trade will cost about $4 in and $4 out, but more importantly I can sell US$ and buy Can$ at interbank rates though I pay a fee, but the fee is about $5 in and $5 out. Thus to compare Etrade to IB one will cost me $600 and IB will cost me $90 which in my opinion is a huge difference.

For the beginning investor IB is too complex and I'd recommend starting with Etrade or a similar broker and move to IB when skilled. Note: I'm not sure how world-wide IB or Etrade is, so this may or may not relate to you depending upon your presence or absence in Thailand and in another country. But the point is that there are potential problems that you can avoid if you research your Thai investment.

For those interested: At IB you can open a real-time "fake money" account, where you start with $1 million US. Trades you make add or subtract as they would in real life but of course you really cannot lose or make anything because it is a "paper account." They are accessible via internet, but you cannot trade SET stock (Thai stock) at the moment.

Another wonderful investing tool, so far absolutely free is found at freestockcharts.com though it only covers European/US/Canadian stocks. It is simply a 15 minute delayed quote tracking program but I absolutely love it.

For the question about non-Thai stock I would think that it would be a very bad idea to deposit them with a Thai broker unless the broker also has a major world-wide affiliate if only for the reason that most Thai brokerage firms would charge you a fee, and then charge you the fee that is charged to them by the broker that they use to gain access to the market.

Worse, I would have to ask what are the laws that come into effect when you sell the shares because you need a complete set of data showing how the money/shares came into Thailand and showing how much, if any, profit was generated while in Thailand for tax purposes. In the absence of that you might find that the Thai tax looks at your entire transaction as profit and is taxed as such--that could be deadly.

With the global economic collapse there are and will be many changes, and one of them will be restrictions/taxation of funds across country lines, so it is wise to be careful.

Edited by jsflynn603
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elektrified Diamond Member

elektrified

Posted
Posted (edited)

O.K. interesting discussion but getting back to my question, does anyone know if any of the brokers mentioned in this thread have the capability of selling European shares if I walk in with the certificate(s)? And if so, would they withhold anything that may be seen as "tax"?

I know I could go to one of the Kim Eng branches and ask but thought I'd save myself a trip in case anyone has done this before. Also I don't want to lose anything in translation especially a misunderstanding regarding the possibility of tax.

Edited by elektrified
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jsflynn603 Advanced Member

jsflynn603

Posted
Posted
<br />And here's a nice Chart :    <a href='http://www.hl.co.uk/shares/shares-search-results/a/aberdeen-new-thai-investment-tst-ord-25p/charts' class='bbc_url' title='External link' rel='nofollow external'>http://www.hl.co.uk/...-ord-25p/charts</a><br /><br />Two years ago September 2009 price £1.50; Price on 1st August 2011 £2.87. Nice return for someone invested in the Thai Stockmarket.<br />PS. You have to adjust the chart to a two year time frame.<br />
<br /><br /><br />

Your link returned a "unable to generate chart" for me. I did look it up at Etrade, as Yahoo finance doesn't list London stocks, and indeed, its performance is excellent.

Though consider that in 1997 during the "Asian Crisis" the SET (Thai Stock Exchange) dropped by 75%. Still I think if a person has access to the LSE that the fund you mention is an excellent suggestion, and far, far easier than opening a stock account in Thailand.

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Asmerom Silver Member

Asmerom

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Your link returned a "unable to generate chart" for me. I did look it up at Etrade, as Yahoo finance doesn't list London stocks, and indeed, its performance is excellent.

Though consider that in 1997 during the "Asian Crisis" the SET (Thai Stock Exchange) dropped by 75%. Still I think if a person has access to the LSE that the fund you mention is an excellent suggestion, and far, far easier than opening a stock account in Thailand.

I use a Mac laptop.Maybe that causes a problem but the link works for me, if a trifle slowly, unfailingly. For anyone interested, the Investment Trust in question is the Aberdeen New Thai Investment Trust (ANW).Easily accessed through www.h-l.co.uk. Apologies to Nancy.

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  • 1 month later...
Rainmon Advanced Member

Rainmon

Posted
Posted (edited)

Bualuang Securities (Bualuang Securities is a division of Bangkok Bank)

Chiang Mai 3rd Flr. Bangkok Bank Bldg.

- Muang Samut Rd. Branch,

26/5 Muang Samut Rd. Chang Moi,

Muang District, Chiang Mai 50300

Tel : (053) 876-311, (053) 252-299

Fax : (053) 876-320

I have been using Bualuang Securities for over 4 years, you can everything online including deposit/withdraw funds. There is some translation problems with explaining the set up and online deposit, but basically all you need to do is go to your online bank and use the bill payment function, find "Bualuang Securites" under the Payee drop down list, put in your account number in the first box and passport number in the 2nd box, done. But first you have to log in to your online brokerage account and activate "E Services" under the "Personal Settings" tab.

more info to apply for account here: http://www.bualuang....i_trading_2.php

Edited by Rainmon
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  • 2 months later...
folium Platinum Member

folium

Posted
Posted

To quote my friend Jacob, who was quoting somebody else (Marc Cuban, I think): A stock broker is the worst qualified person in the world if you're looking for somebody to help you invest money. The stock broker has access to all the information, he knows how it works, he trades stocks all day. Yet, he's not rich. How is that possible? That's because he's incompetent.

If the stock broker were good at what they were doing, they would not be offering their services to you. They'd be out on their yacht enjoying their riches.

Oh execution only - that makes more sense then... but couldn't you do it all online?

Funny that sounds like a Charles Schwab advert c.1999 almost word for word. What's next in originality, slapping lipstick on a pig perhaps?

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