Thai Broker Review

Here is an excerpt from our stock market course:

I like many local brokers -but some more than others.  Thai Securities (Tisco), is a solid brokerage firm even while they can be a bit old fashion at times. They produce above average research in excellent English.  Like with all stock research, do not jump on everything positive you read. For example TISCO had for long time a sell recommendation on HMPRO, even while this firm is growing very fast. HMPRO is one of the few stocks which has not declined in value this year.

Yet, unlike some other brokers here, they have for some years covered various shares beyond the largest stocks. Tisco was the very first broker I had contact with in 1987, and on the brokerage side, they have never disappointed me. I think their on line trading system is not the best in the industry. Kim Eng does a better job at that for now, but Tisco seems more committed to the individual.

Tisco also has an impressive
Hong Kong office. The commissions are higher in Hong Kong compared to trading in
Thailand, but one key advantage of Tisco HK is that you can repatriate funds instantly to your named account, anywhere in the world with no forms to fill out. The brokerage commission in HK is around triple the amount as in
Bangkok. If you trade for less then 150,000 Baht (per transaction) there is a minimum commission of 1400 Baht. You can probably set-up your account to send buy and sell orders through e-mail.  Tisco Hong Kong also does a very good job in collecting and depositing all dividends to your account directly for a very small fee.   If you give Tisco HK proper wiring instructions, then sales proceeds (from a Thai stock sale) can be in your name, anywhere in the world right on the settlement date. At Tisco Hong Kong, you can hold funds in Thai Baht or US Dollars and can buy stocks from some of the region's other stock markets.

I also sort of like Bualuang Securities on

in
Bangkok. This local broker is partly owned by JP Morgan Bank and Bangkok Bank  They are solid, professional and possibly the "Morgan Stanley" of
Thailand. You can set - up your account to send buy and sell orders through e-mails. The staff speaks good English and they refrain from excess speculation and rumor trading , from what I know.  Yet, like so many others they turn bearish at market bottoms and bullish when the SET is overheated.  Mr. Wanchai there is helpful & informed and speaks very good English.

If you get through the paperwork correctly and notarize your signatures; they can set - up an account through the mail and fax. As can be done with Tisco.

I also like Kim Eng . Kim Eng is an international broker based in
Singapore. They have several offices throughout
Thailand. They have a good on-line trading system which is probably close to being the best around. (We welcome your feedback).

The minimum amount to open a online trading account is 50,000 Baht. Beware that their on line trading web page can at times be late and so wrong with up-to-date market prices. Kim Eng research is about average and you do not need to be a client to access it. The head of Kim Eng is an investment banker so beware of conflicts of interest on the research side. Like most others they are forever positive on long lagging, Thai Bank stocks. 

NFS (National Finance and Securities) is not bad for day trading. They represent a bit of the old guard powerbroker here in
Thailand. In my own view NFS remains inward looking and are not focused on servicing foreign retail investors with quality research.  Their forte is not on the brokerage side. I have no opinion on their research, nor do I follow it. Their financing business is what makes NFS money.

Seamico is another local "power broker" run by an outspoken Australian. They have fairly good research -but helas obsessed with trading, rather then wealth building. Besides like others, conflicts of interests is around -so beware.

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Best Regards,

Paul A. Renaud
Thaistocks.com