DavidMavec Posted December 15, 2013 Share Posted December 15, 2013 I know this is a really n00b question but I was wondering if it is possible to buy U.S. stocks from Thailand using the THB and going through a Thai bank? What is necessary to do this? Thanks for tips. Link to comment Share on other sites More sharing options...
wordchild Posted December 16, 2013 Share Posted December 16, 2013 (edited) The short answer is yes it is possible and there are Thai stockbrokers who do this for Thai based indeviduals eg Asia Plus, Phillip etc. However it is somewhat cumbersome (at least initially) to set up an overseas investing account due to Bank of Thailand rules and restrictions. It can also be expensive as brokers tend to aim this service at their high net worth Thai clients. Unless you fall into this category (and can negotiate) commision levels and other costs are likely to be quite high. It would likely be cheaper and better , in terms of sevice, for you to use an offshore broker and this would also get you away from BOT restrictions and reporting requirements and aid your tax planning. There has been a couple of recent discussions in this forum on the subject of stock trading and which brokers to use. Edited December 16, 2013 by wordchild Link to comment Share on other sites More sharing options...
thrilled Posted December 16, 2013 Share Posted December 16, 2013 I just use schwab.It's much easier.Well easier for me. 1 Link to comment Share on other sites More sharing options...
AyG Posted December 17, 2013 Share Posted December 17, 2013 Technically you can't buy through a bank, but most banks here have a brokerage arm which may agree to take your business. There are also non-bank related brokers. One thing to check is the level of tax withheld on dividend income. The "default" rate is 30%, but can be reduced to 15% by completing a W-8BEN form if the broker supports this. Link to comment Share on other sites More sharing options...
zeekgarcia Posted December 17, 2013 Share Posted December 17, 2013 If you are a US citizen you can use any broker in the USA and some you can sign up online but you may want to use a vpn to try to keep your info secure. Also this site has some info http://americansabroad.org/issues/banking/banking-and-the-patriot-act-update/ Link to comment Share on other sites More sharing options...
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