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Best stock broker for foreign Thai residents?


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Hey

 

What's the best online broker for long term investing into stock and mutual funds for Thai residents? I'm Norwegian but I live in Thailand. 

 

A lot of people seem to recommend Interactive Brokers. Are they a good choice? Does IB report your activity directly to the Thai tax authorities/agencies? 

Edited by TPDH
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3 hours ago, TPDH said:

Hey

 

What's the best online broker for long term investing into stock and mutual funds for Thai residents? I'm Norwegian but I live in Thailand. 

 

A lot of people seem to recommend Interactive Brokers. Are they a good choice? Does IB report your activity directly to the Thai tax authorities/agencies? 

I have heard that they do not accept foreigner living out of their country...

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2 hours ago, GeKoSc said:

I have heard that they do not accept foreigner living out of their country...

 

And what you heard about Interactive Brokers is 100% wrong.  I had no problem opening an account with them last year.

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5 hours ago, TPDH said:

What's the best online broker for long term investing into stock and mutual funds for Thai residents? I'm Norwegian but I live in Thailand. 

 

A lot of people seem to recommend Interactive Brokers. Are they a good choice? Does IB report your activity directly to the Thai tax authorities/agencies? 

 

IBKR is cheap, so that's a plus.  Service varies dramatically from excellent to hopeless.  I currently have major problems with their handling of dividends from stocks listed on the London Stock Exchange.  I have to spend a significant amount of time tracking what they're doing wrong just to make sure I'm not losing out.

 

IBKR is useless for mutual funds for non-Merkins.  (If you want mutual funds, then Internaxx is pretty much the only international broker to consider.)

 

IBKR does not report to the Thai tax authorities as things stand at the moment.  That may change.

 

 

 

 

 

 

 

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1 hour ago, Oxx said:

 

And what you heard about Interactive Brokers is 100% wrong.  I had no problem opening an account with them last year.

Where did you live when opening your account?

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18 hours ago, Oxx said:

 

IBKR is cheap, so that's a plus.  Service varies dramatically from excellent to hopeless.  I currently have major problems with their handling of dividends from stocks listed on the London Stock Exchange.  I have to spend a significant amount of time tracking what they're doing wrong just to make sure I'm not losing out.

 

IBKR is useless for mutual funds for non-Merkins.  (If you want mutual funds, then Internaxx is pretty much the only international broker to consider.)

 

IBKR does not report to the Thai tax authorities as things stand at the moment.  That may change.

 

 

 

 

 

 

 


Great. Thank you! Did you ever compare Charles Schwab and IBKR? 
 

As a Thai resident, do you know if you can fund your IBKR account with a US bank account or would they only accept Thai bank accounts? 

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I have an account with  Schwab International and also with IB , why not? It was easy to open an account with both. You'll need a copy of US passport and proof of Thai address such as utility bill or a letter from a local bank stating your passport number, name and address and that you have  an active bank account there.

Schwab has a minimum of $25,000 to open an account. They'll let you open the account and after that you can take your own sweet time to fund the account. I am not sure if they enforce the min req. What are they gonna do? close your account?

Schwab ATM card is very useful when you are traveling.

You can link your US bank accounts to Schwab or IB account  to fund the account by ACH transfers.  It is better to log into your bank account to push the fund . If you log into a brokerage account to pull the money from your bank account the fund  may be subjected to longer holding period.

You will love Schwab and IB. Transferring money to Thai bank is easy, low cost or free.

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