[Turnip Posts: 10]

Hi,

It’s very quiet around here, but some good info.

I am looking at opening an online trading account with, say, the SCB or the Bangkok Bank. I guess the charges will be all pretty much the same.

What would be the advantages in going to an independent broker?

How could I find one?

[Thai SharesAdmin Posts: 10]

Hello Turnip

Thanks for joining the Thai Shares community.

Hoonzilla will be along shortly to answer your question.

I hope you have a happy and prosperous New Year.

[Hoonzilla Posts: 99]

I think that here in Thailand you are fine going with a larger brokerage house.

Back in the day (and back in the West), an independent broker was good if you enjoyed face to face interaction and good customer service.  But here in Thailand, the brokers that are attached to the larger institutions (especially the ones that speak English and deal with foreign investors) still offer a very high level of personal service.

I appreciate that if you are an older person there may be some reticence to learn how to use an online trading platform, that is, you may be used to placing orders over the phone, but the systems offered here in Thailand have very simple interfaces and the features are easy and intuitive to use.

I pay just 0.0015 percent of the value of a trade in brokerage fees when using my online trading platform.  Yet despite this my Thai broker:

• Is available for face to face discussion at most times during the day if I want to visit her office.
• Answers all of my emails promptly and accurately
• Provides me with requested information (sometimes on rather obscure topics) swiftly and with follow ups if required
• Lets me trade on the computers that are located in her office if I happen to be in town and want to pop in and watch the market or place a trade.  Or get a free coffee or ice water 🙂
• Has taken me to dinner and lunch at 5 star hotels on numerous occasions
• Gives me small gifts for my birthday and new year
• Speaks and writes English at an acceptable level

In light of customer service such as this, and the significant commercial presence (and thus, one would hope, stability) of her institution, I see little reason to use an independent broker.

 

[Shina Posts: 3]

Hoonzilla, is it possible for you to give me the name of the brokerage you use? Forgive me if the question is naive, I am new to this.

[Hoonzilla Posts: 99]

Hello Shina

Welcome to the Thai Shares community.

Happy New Year and all that 😀

Are you staying in Thailand?   If so, let me know what area and I can give a recommendation.

[Shina Posts: 3]

Hi Hoonzilla

Yes, I live in Thailand in the Ramkamhaeng / Lat Prao area postcode 10310.   Thanks for your help.

I am very new to the share market and the articles on this website are a godsend.   Together with the forum they are making my foray into trading on the SET a much better educated one than would otherwise be the case.   Thank you all.

[Thai SharesAdmin Posts: 10]

Hello Shina

Happy New Year and welcome to the Thai Shares community.

Thanks very much for the positive feedback on our articles and other site content.

If you read something here that is useful or interesting, please remember to share it with your friends. 😉

Even though you are just starting out, you are already ahead of many because you have taken the initiative to educate yourself.

I trust that Hoonzilla is currently doing his homework on your location and will be back shortly to answer your question.

Best of luck for 2017.

[Algo Girl Posts: 18]

Hello, and welcome to the new members Turnip and Shina.

Turnip do you like to vege out a lot?

Shina, slowly does it if you are just starting out.  Don’t forget to paper trade for a while before you start trading with real money 😎  😎  😎

[Surfsalot Posts: 52]

Hey Shina and Turnip.

Welcome to the salt mine.

[Turnip Posts: 10]

Thanks for the replies, although I did not quite understand Hoonzilla’s

“I see little reason to use an independent broker.”

But he seems to be using one.

But we are waiting for his recommendation. As I will be trading online, I do not have a priority towards being able to walk into offices.

Also the

“Notify me of follow-up replies via email” does not appear to work. None of the above replies ended up in my email. (The email address is correct because I received the confirmation email)

[Hoonzilla Posts: 99]

Shina

I have sent you a PM.

[Hoonzilla Posts: 99]

Turnip

Where are you located in Thailand?

[Dead Cat Bounce Posts: 12]

Welcome to Shina and Turnip.

 

[Turnip Posts: 10]

Hoonzilla.

Southern Thailand.

[Stop Loss Posts: 19]

Hey Shina and Turnip.

Turnip, I am not having any problems getting the notify emails when someone posts and new reply.

Check your spam/junk mail folder, and if in there right click and mark as not spam.

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