Trading Etfs On The Set In Cm

[lukeskywalker]

I want to trade the 3 ETFs available on the SET (TDEX, TFTSE, and ENGY). However, for whatever reason a normal broker cannot do this for me. I went to one near Airport Plaza (named INK ENG I think) and was told that these ETFs can be traded via banks. I thought this odd, but TIT so oh well.

Anyway, has anyone traded these securities and have experience setting up an account with their bank to use them as a broker? I was told Siam Commercial Bank, at which I already have a normal savings account, can perform this service for me, but when I went into a couple of branches all I got were blank stares.

Any info?

THX

[moe666]

More response in the money and finance section

[Thighlander]

I would just buy/sell ttf, thd within my us brokerage account, and the thai government will not be concerned with your transactions whatsoever.

Try buying Esso Thailand as a foreigner--not that easy.

[bjohn34]

I would just buy/sell ttf, thd within my us brokerage account, and the thai government will not be concerned with your transactions whatsoever.

Try buying Esso Thailand as a foreigner--not that easy.

I have a stock trading account at KimEng in CM. No problem buy and sell Esso Thailand any time I want to. Current price is 6.55

[Thighlander]

I would just buy/sell ttf, thd within my us brokerage account, and the thai government will not be concerned with your transactions whatsoever.

Try buying Esso Thailand as a foreigner--not that easy.

I have a stock trading account at KimEng in CM. No problem buy and sell Esso Thailand any time I want to. Current price is 6.55

How do the tax witholdings work? Do you have a taxpayer ID? What type of Visa do you have?

[bjohn34]

I would just buy/sell ttf, thd within my us brokerage account, and the thai government will not be concerned with your transactions whatsoever.

Try buying Esso Thailand as a foreigner--not that easy.

I have a stock trading account at KimEng in CM. No problem buy and sell Esso Thailand any time I want to. Current price is 6.55

How do the tax witholdings work? Do you have a taxpayer ID? What type of Visa do you have?

1. No tax withholding. there is a 7%VAT only on the commission. No transaction tax. Total of commission +VAT amounts to 0.16% of transaction amount. There is no capital gains tax and SET gains are exempt from personal income tax

2. no

3. Non Imm O , but I believe anyone can open account

[lukeskywalker]

Right. No capital gains tax!! And low transaction fees!! It's great.

But for ETFs, KIMENG cannot act as my broker for some odd reason. They told me that banks can do it, one of them being Siam Commercial at which I already have an account (savings, but I'll have to open a separate brokerage account for this). They must not have too many people who do it because 2 branches didn't have the slightest idea what I was talking about.

I did put the same posting in the finance section of TV looking for a broader idea of how to trade these ETF's, but then I also put the same post here in CM because maybe there is someone who has already gone through all this and can tell me a bank that knows its stuff. I haven't found an internet broker (etrade, etc.) that trades in the SET, even if they did, they might not trade these 3 ETFs that I want.

For those who want to know what an ETF is, look here: www.set.or.th/en/products/etf/etf_p1.html

It's like a mutual fund that trades like a stock, therefore diversifying your risk.

[bjohn34]

Right. No capital gains tax!! And low transaction fees!! It's great.

But for ETFs, KIMENG cannot act as my broker for some odd reason. They told me that banks can do it, one of them being Siam Commercial at which I already have an account (savings, but I'll have to open a separate brokerage account for this). They must not have too many people who do it because 2 branches didn't have the slightest idea what I was talking about.

I did put the same posting in the finance section of TV looking for a broader idea of how to trade these ETF's, but then I also put the same post here in CM because maybe there is someone who has already gone through all this and can tell me a bank that knows its stuff. I haven't found an internet broker (etrade, etc.) that trades in the SET, even if they did, they might not trade these 3 ETFs that I want.

For those who want to know what an ETF is, look here: www.set.or.th/en/products/etf/etf_p1.html

It's like a mutual fund that trades like a stock, therefore diversifying your risk.

I think there was must have been some confusion or misunderstanding when you went to Kimeng. I do everything onlie so don't go into theoffice very often but their English skiills are limited.

I just checked on their trading platform and all three of the ETF funds you mentioned were shown. Further I just bought two of them within the last ten minutes and they are in my portfolio.

[lukeskywalker]

Right. No capital gains tax!! And low transaction fees!! It's great.

But for ETFs, KIMENG cannot act as my broker for some odd reason. They told me that banks can do it, one of them being Siam Commercial at which I already have an account (savings, but I'll have to open a separate brokerage account for this). They must not have too many people who do it because 2 branches didn't have the slightest idea what I was talking about.

I did put the same posting in the finance section of TV looking for a broader idea of how to trade these ETF's, but then I also put the same post here in CM because maybe there is someone who has already gone through all this and can tell me a bank that knows its stuff. I haven't found an internet broker (etrade, etc.) that trades in the SET, even if they did, they might not trade these 3 ETFs that I want.

For those who want to know what an ETF is, look here: www.set.or.th/en/products/etf/etf_p1.html

It's like a mutual fund that trades like a stock, therefore diversifying your risk.

I think there was must have been some confusion or misunderstanding when you went to Kimeng. I do everything onlie so don't go into theoffice very often but their English skiills are limited.

I just checked on their trading platform and all three of the ETF funds you mentioned were shown. Further I just bought two of them within the last ten minutes and they are in my portfolio.

Typical. Now I'm really confused as the Thai man at KIMENG seemed to completely understand what I was saying, but if you bought them using them as your broker then that completely contradicts his statement.

Is there any costs to open an account at KIMENG so that I can open one and then try to buy the funs like you did? What paperwork do they need from a foreigner to open the passport and how do I transfer money into the KIMENG account?

[bjohn34]

Right. No capital gains tax!! And low transaction fees!! It's great.

But for ETFs, KIMENG cannot act as my broker for some odd reason. They told me that banks can do it, one of them being Siam Commercial at which I already have an account (savings, but I'll have to open a separate brokerage account for this). They must not have too many people who do it because 2 branches didn't have the slightest idea what I was talking about.

I did put the same posting in the finance section of TV looking for a broader idea of how to trade these ETF's, but then I also put the same post here in CM because maybe there is someone who has already gone through all this and can tell me a bank that knows its stuff. I haven't found an internet broker (etrade, etc.) that trades in the SET, even if they did, they might not trade these 3 ETFs that I want.

For those who want to know what an ETF is, look here: www.set.or.th/en/products/etf/etf_p1.html

It's like a mutual fund that trades like a stock, therefore diversifying your risk.

I think there was must have been some confusion or misunderstanding when you went to Kimeng. I do everything onlie so don't go into theoffice very often but their English skiills are limited.

I just checked on their trading platform and all three of the ETF funds you mentioned were shown. Further I just bought two of them within the last ten minutes and they are in my portfolio.

Typical. Now I'm really confused as the Thai man at KIMENG seemed to completely understand what I was saying, but if you bought them using them as your broker then that completely contradicts his statement.

Is there any costs to open an account at KIMENG so that I can open one and then try to buy the funs like you did? What paperwork do they need from a foreigner to open the passport and how do I transfer money into the KIMENG account?

If there is any cost to open account it is minimal. I think all I had was passport but I really am not sure.. Maybe on their website, www.kimeng.co.th it gives more info on what is needed for account opening. I have a Kasikorn bank baht account and transfer money to KiMeng from that. Is handy because when I receive dividend payments, Kimeng automatically transfers to my bank in most cases. A few companies issue dividend checks directly to me which I then deposit at the bank

Overall I have been pleased with my Kimeng account. The online platform is reasonably easy to understand and use with a little study. If you request it they will send you information and company/market reports by email daily.

Edited August 24, 2010 by bjohn34

[mcgriffith]

Go see Boom (Thai young guy) at CM #2 Kim Eng office.

Easy to open an acct, and Kim Eng has bar none the best research on Thai stocks. It figures, they're the biggest by market share

They will email you Goldman Sachs, Morgan Stanley, Citi and many other major brokerage house reports daily. The in house stuff is very detailed and excellent as well. And they are not adverse to sending you analysis from competing brokerages (like Phatra, etc.).

Probably the reason for the ETF problem is (other than language issue) it is a new security type here. Many you talk to probably still don't have a clue what an ETF is, although they are traded.

The market here is mostly devoted to locals, who are traders. In stocks, and warrants and futures and bonds. Mutual funds and ETF's available, but mostly bought by civil servants in a gov't run pension plan.

I'm moving this to the real forum devoted to this, but will leave a live link on CM.