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Wanting to open a Brokerage account, suggestions ? Quote


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I want to open a Brokerage account simply for the reason of receiving some shares from a company floating in Canada in 2 weeks time ....

I'm a non-Res Brit living in Phuket, so any recommendations ?

Will be in Bangkok Monday if there's options there ?

I do have an HSBC Singapore (basic) account but the brokerage options look like its HK and Sing markets only ...

Thanks in advance ...

Regards,

Minister.....

Ps I'd prefer it wasn't UK based but OK to open there .....if that was the last resort

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I assume when you write SCB you mean Standard Chartered Bank rather than Siam Commercial Bank in this case, given it's very unlikely Thai brokers give access to Canadian stocks.

Stan Chart Singapore won't be your answer. They give access to about a dozen world stock markets. Unfortunately for you, Canada isn't one of them. Also while the Stan Chart equity platform is conveniently linked to your bank accounts, the functionality is rather crude. OK for investing online and where not time critical but not day trading. In addition the back office and support functions aren't that great with dealing with non-standard simple buying and selling. I think they'd struggle getting you set up in 2 weeks for a share transfer in as part of a corporate action rather than a simple buy of shares. Bottom line, for what you're looking for SCB / Stan Chart wouldn't be the answer.

As you're a Brit I'd mention that I also use Hargreaves Lansdown in the UK. They are great for UK centric investments as well as global unit trusts, investment trusts etc. They do offer some access to overseas markets including Canadian stocks. However, this tends to be the ones that are able to be settled thru Crest. Also you suffer an exchange rate hit on buy and sell as they don't offer foreign currency bank accounts. The only two Candaian stocks I own thru them were AOI and NGC as high risk high reward resource sector stocks. HL may be a long shot for you, and they are very competent at back office processing and corporate actions unlike SCB, but you would need a UK address etc to facilitate opening.

You'd be better off with a dedicated stock broker rather than a bank offering stock broking facilities or UK based broker. Names like Interactive Brokers might be worth a look. I believe also the securities companies related to the Singaporean banks (as opposed to banks themselves) all off Canada as a market, i.e Singaporean brokers such as DBS Vickers, OCBC Securities, UOB Kay Hian, when I looked a while back at accessing some high risk high reward Canadian registered stocks.

Cheers

Fletch :)

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Actually a mate referred this company, Central World based.....

www.Fnsyrus.com - ..::: Welcome to Finansia Syrus Securities

Let us know how you get on. There aren't many Thai based brokers that offer global trading, and I didn't realise these guys did until you posted it.

When I followed your link and clicked on global trading it says they do 13 markets around the globe. It also says they are cooperating with OCBC securities which is one of the Singaporean ones I mentioned above that includes Canada in their markets. I'd be interested to know which ones FSS cover? There are some interesting opportunities come up in Canadian stocks from time to time - often speculative tho.

Cheers

Fletch :)

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Thanks alot Fletch, actually I meant Siam Commercial Bank but their brokerage website it's looking pretty SET specific....

I might try the UK route as you suggest

Cheers

SB

If you go the UK route I suggest you establish at the outset if the account is available to non-UK residents. Many (most?) are not.

This assumes that you do not have a UK address. Even if you have a UK address and you can open an account I am not sure if they would ever question why all your trades are being made from an overseas location.

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