Stock Broker In Pattaya

[Thailaw]

Can anyone recommend an honest and reliable stock broker located in Pattaya for the purchase of stock and/or bonds of Thai companies? Recommendations based on personal experience would be preferred. Name and contact information/office location will be appreciated. Thanks in advance for all suggestions.

[raro]

I would be extremely careful, there was this German guy running around a while ago who "invested' plenty of money from his clients and also paid out dividends...until after a couple of years the money accumulated was big enough that it was worth running away with the money. Pretty much the same scheme as the American guy who tricked all those celebrities in investing with him.

Why not do it by yourself? Open an account with Seamico (at Soi 6/1 next door to Tropical Bert's) and do online trading. Very easy to use and you have control over it. And all profits are for you!

[imaneggspurt]

Im sorry to say Pattaya is the most untrustworthy city i have ever had the displeasure of trying to obtain honesty,.EVEN if i had someone i had used before that was ok i would NOT recommend them as when these types get low on funds they are dangerous,use extreme caution,. sorry,..

Edited July 14, 2009 by imaneggspurt

[Thailaw]

Thanks. I know that Thailand lacks the "checks and balances" that exist in Western countries, but even there the likes of Bernie Madoff can steal billions (with a "b"!) from the innocent. I am simply looking for a broker that will carry out the purchases/sales that I direct. I am not looking for someone to manage my money and make investments on my behalf -- I wouldn't do that in the US and I certainly wouldn't do that here. Seamico (I have never heard of them) seems like a good possibility. Does Macquarie (the Australian investment banker -- not many of those left) have an office in Pattaya? The investments would be for my 14 month old daughter, who has very good instincts for investment, being especially fond (like her mom) of retail (snacks and shoes at the top) businesses. Cheers,

[soundman]

Thanks. I know that Thailand lacks the "checks and balances" that exist in Western countries, but even there the likes of Bernie Madoff can steal billions (with a "b"!) from the innocent. I am simply looking for a broker that will carry out the purchases/sales that I direct. I am not looking for someone to manage my money and make investments on my behalf -- I wouldn't do that in the US and I certainly wouldn't do that here. Seamico (I have never heard of them) seems like a good possibility. Does Macquarie (the Australian investment banker -- not many of those left) have an office in Pattaya? The investments would be for my 14 month old daughter, who has very good instincts for investment, being especially fond (like her mom) of retail (snacks and shoes at the top) businesses. Cheers,

An online cash account with one of the large securities company is exactly what you want.

Doesn't cost anything to maintain, easy to use, commissions are miniscule, and large securities companies like Kim Eng have pretty good research/advice, free to all online account holders.

Companies I would recomend are: Kim Eng, Tisco, Phatra.

[Thailaw]

Thanks, Soundman. How do I transfer money to the broker when I want to make a stock purchase? Do I need to maintain an account with a cash balance with them or can I transfer funds (by wire transfer?) from a bank account in Thailand or can it be done from a foreign account? Thanks

[Joost]

Doesnt interactive brokers suite your wishes? Cheap online brokerage which offers trading on many platforms. If you check out the site you can see a demo of the software there.

[Thailaw]

I think that an internet broker would serve my purposes, although I have never used one before. I went to the Kim Eng website, and to open an account a signed paper form is required and also a transfer of cash into their account at one of several banks is required (not sure if the account is interest earning). Alternatively, you can athorize them to withdraw money from your account (and deposit money in connection with sales), but that seems too risky. I would prefer, for obvious reasons, a broker that carries out a purchase subject to funds being deposited/paid to the broker within a specified (short) period, the "settlement period". Perhaps that sort of "trust" just isn't available in Thailand.

[raro]

Thanks, Soundman. How do I transfer money to the broker when I want to make a stock purchase? Do I need to maintain an account with a cash balance with them or can I transfer funds (by wire transfer?) from a bank account in Thailand or can it be done from a foreign account? Thanks

With any of the security firms that Soundman mentioned or Seamico (who are conveniently having an office in Pattaya, not sure about the others) or any other security company for that matter you just open an account just like any other bank account. You can transfer into this account from anywhere in the world.

Those security companies have online facilities through their webpage that enables you to trade Thai stocks online. NB: Thai stocks. There are similar institutions in other countries where you can buy and sell stocks elsewhere if you want to.

There are also lots of other investment options sold through banks such as government bonds, mutual funds etc. Check with the Thai banks but go to a bigger branch as the staff in the small shops might not really know what you are talking about

[DonTron]

Let me stur up some flames in this thread...

What is the difference between investing in the stock marked and playing the roulette in Vegas?

So far nobody has been able to answer that.

:-)

[RCR]

Let me stur up some flames in this thread...

What is the difference between investing in the stock marked and playing the roulette in Vegas?

So far nobody has been able to answer that.

:-)

The difference is: In Vegas you get free drinks and pretty women.

[plasticpig]

Let me stur up some flames in this thread...

What is the difference between investing in the stock marked and playing the roulette in Vegas?

So far nobody has been able to answer that.

:-)

The difference is: In Vegas you get free drinks and pretty women.

The hotel rooms and service is far better in Vegas as well.

Nudge Nudge , Wink Wink.

[Thailaw]

I won't try to justify "investing" in the stock market (anywhere) rather than "gambling" in Las Vegas (I think that most of the differences are obvious, unless you ascribe to the "random walk" theory), but the biggest difference (at least in relation to the point of my original inquiry) is that if you invest in the US stock market or gamble in Las Vegas and you are lucky and win, you will be paid in US Dollars, which will over time be worth less and less. Whereas, if you invest in sound companies in Thailand, you will be paid in Baht, which for those living in Pattaya (or Thailand more generally) is the currency that you will spend and need. I think it is time to face the reality that, given the management (or lack thereof) of the US, UK and European economies, the Dollar (and also likely the Pound and perhas the Euro) will continue to fall in value against other currencies, and people (like me) need to look for alternatives quickly, rather than just sit and complain about the situation. There may be other options, like Australian Dollar investments, but getting into Thai Baht denominated investments seems like a good start for long-term investments for my daughter's education. And you can always opt for government bonds if you feel that the stock market (here or anywhere else) is too much like "gambling".

I guess I have the information I need and originally requested, so this thread can miander through the woods (and into and out of the gutter) if people find that enjoyable. I do appreciate all of the helpful/informative responses, which are becoming ever increasingly rare on this site. Perhaps that is a sign of the times.

[deejah]

you brought up a good point

but

if the dollar fails/falls won't it take all the other currencies with it?

i have been converting some dollars to baht

but how safe is our money here just sitting in a thai bank?

i have read on TV of people missing money from their thai accounts (bangkok bank)

plus its a big challenge just to get 2% interest

much to discuss here

i am looking into oil futures options, gold, and silver

[Thailaw]

There are indeed many issues/questions to deal with given the present financial situation. But if the US Dollar falls in value it will not bring all other currencies down with it, and certainly not at the same rate. The Dollar is likely to suffer the worst and fall the most (relative to other currencies), but the Pound is likely to do just about as bad. The Euro will do better only because EMU isn't permitted to use monetaty policy to remedy the financial problems of particular EU countries -- it is certainly tempted and is being pressured to do so, but has thus far resisted. So, unlike the Federal Reserve, which has been increasing the money supply like there is no tomorrow (and given Bernanke's short sighted view, it/he doesn't see one or care about it), the EMU has been less expansionist. And countries like Australia, which are heavily resource based, will enjoy economic expansion as the global economy improves, in addition to the fact that the Australian government has been far less expansionist with its money supply than has the US. And the Australian Dollar will increase in value along with the economy. I am, frankly, amazed that the Thai Baht has stayed as strong as it has, given the political problems and their impact on tourism and inward investment. I can only surmise that the Thai government's control over imports and the taxing of imports allows it to balance the flow of imports and exports (and therefore currency exchange) at almost any rate it desires. The Baht certainly isn't competitive against the Philippine Peso, and probably many other Asian currencies.

And you are correct, interest rates offered by banks here in Thailand are pathetic. I have heard that some banks are offering 5% for a five year term deposit. If you find that rate acceptable, you should check out the major Thai banks. And while there are problems to be sure with keeping money in developing countries, I do believe that deposits with major Thai banks are generally safe, and the bank will make good on theft from bank accounts.

So, if bank rates are poor (and I agree that they are), then government bonds (the Thai government offers 10 year bonds at rates equal to US treasuries) or corporate bonds or stocks are also an option. I think that accounting irregularities and lack of tranparency are the tow biggest problems with investing in Thai companies. But if you select well established companies with long histories of honesty and paying dividends, i think you can lower this risk to an acceptable level. Gold is over priced, and will eventually settle down to $600 per ounce, so there is too much downward risk there. And silver has never been a good long-term investment. I am sure that diversity is critical at this time and in this environment. But some Thai stocks has a place in any resident of Thailand's portfolio, especially if you have young children.

I think that starting an investment club here in Pattaya would be a great way to explore the issues and develop a sound investment strategy. And I would certainly be interested in participating. I would even try to get Somsak Martin to be the first guest speaker and speak on the topic "How a fool and his money are soon parted -- my personal experiences".

[rogercw]

I have had an account with Bualuang Securities for three years. I do everything on line at a maximum commission of 300 baht. Bualuang Securities is majority-owned by Bangkok Bank and on its' web site says it is the security arm of Bangkok Bank. I don't think a falang can find any other firm that would make hin feel more secure.

The Pattaya office is on the second (to Americans) floor of the Centre Condo. I forget the soi number but if you leave the Second Road and South Pattaya Road intersection on South Pattaya it is about two or three hundred yards up South Pattaya and to the left about 50 yards.

[rogercw]

Add-on. When you get to the Centre Condo on the right-hand end there is an exterior stairway going up to the second floor. Take it and when you go in the door at the top of the stairs you are in the Bualuang Securities office.

[Thailaw]

Rogercw, thanks. I will check them out. They seem to be a good choice for what I need. Cheers,

[rogercw]

A point where Thailand is better than America. No paperwork to file for stock market wins or losses. No tax on capital gains. Dividends have a tax (15% I think) deducted when paid and the rest is sent to your bank account.

[Thailaw]

Thanks. There are many (MANY) points where Thailand is better than America (or the UK for that matter), but the one you mention is certainly one.