Anyone trading Forex in Thailand

Ok.... back to OP....

I'm Shaun, a 41-year Aussie living in BK for about 6 weeks but planning to spend perhaps 6 more months here or maybe a lot longer. My Thai girlfriend is into Forex trading and I'm starting to get interested in it. Of course, I need to learn. I would be interested in attending meetups.

The main reason I googled for this topic is because I've heard that trading Fx in Thailand is illegal (Exchange Control Act), but only for Thai people, and would not apply for me as an Aussie trading through an NZ company. I would like some confirmation on that. Judging by the remainder of this thread, I would prefer to avoid legal hassles in the land of smiles and occasional palm-greasing.

Re the sex trade (which seems a hot side-topic in this thread), I just spent the weekend in Pattaya to visit a mate, and although I did not partake, I can assure you the industry is thoroughly alive and kicking. I travel a lot and have seen a few red light districts in my life, including while living in the Netherlands for 2 years, but nothing compares to Thailand.

Personally I find it so easy to meet slim pretty girls here anyway, you don't even need to care about the sex trade if you're a nice white dude. Thai girls are the best of both worlds, Asian values and looks, but influenced perhaps just the right amount by capitalism and the internet/global culture. As for Thai women being demure, that's not my experience at all! Maybe some are, but most are DTF.

Apart from the people, I love Thailand because it's warm, cheap, safe and relaxed, and there's always lots of food and drink, all the time, everywhere. I like the lawlessness. Because of Buddhism and karma 99% of Thais are very reluctant to do anything bad anyway. Thai people are nice and friendly, that's why they call it the land of smiles. I see millions many more happy faces here than in Australia, where many people are busy working their nuts off trying to get a better ute or a better apartment at Bondi or whatever, then getting drunk and having a fight on Friday night because they're so pissed off about having to work so hard.

The only things I dislike about Thailand are the dirt, pollution, shoddy tradesmanship, and flakey internet and electricity. Everything in Thailand is chaotic, loose and messy, but you get used to that.
 
mossy2100 said:
Ok.... back to OP....

I'm Shaun, a 41-year Aussie living in BK for about 6 weeks but planning to spend perhaps 6 more months here or maybe a lot longer. My Thai girlfriend is into Forex trading and I'm starting to get interested in it. Of course, I need to learn. I would be interested in attending meetups.

The main reason I googled for this topic is because I've heard that trading Fx in Thailand is illegal (Exchange Control Act), but only for Thai people, and would not apply for me as an Aussie trading through an NZ company. I would like some confirmation on that. Judging by the remainder of this thread, I would prefer to avoid legal hassles in the land of smiles and occasional palm-greasing.
Click to expand...

You will be fine here. You wont be able to open certain types of account from Thailand (e.g. spread bet) but is is legal to trade your own account from here as a foreigner and doesn't constitute working.



mossy2100 said:
Apart from the people, I love Thailand because it's warm, cheap, safe and relaxed, and there's always lots of food and drink, all the time, everywhere. I like the lawlessness. Because of Buddhism and karma 99% of Thais are very reluctant to do anything bad anyway.
Click to expand...

This is a common perception but it is false. Ask the PAO office in Khon Kaen that just got shot by 3 cops who were paid to murder him.

I do agree that 99% of Thais are good (with the exception of corruption because that ain't the 1%). In fact, it is amazing how well behaved people are considering there is no law enforcement.

In terms of liking the lawlessness - it is cute to start with but as you see what goes on, you will see how it causes a lot of misery here. Child prostitution isn't cute and there's lots of it here. Human trafficking isn't cute. Cops killing people isn't cute. Rich people getting away with murder isn't cute. The Meth situation here is definitely not cute. It will grate on you after a while.

Last week in Soi 7 in Pattaya, there was an argument in which one Thai lad shot another dead. The cop who takes care of that area came along and had a heated argument with the shooter (who made no attempt to escape) about killing "on his patch". This ended up in he cop shooting the guy in cold blood in the street and unfortunately also killing someone that was watching the debalce with a stray bullet. This cop was waltzing around Soi 7 (albeit out of Uniform) 3 days later and will go unpunished despite committing 3 murders in public.

My missus just applied for a course at Ramkamheang University - the closest to our house. As part of the process, she ended up having to put 5,000 Baht into an envelope because the person who rubber stamps the application "would love to help you but...". I can assure you that this sort of thing annoys your average working Thai as much as it does me. My wife was furious but it's just the way it is here.

Anyway - is it time for meet up in Bangers at some point?
 
Look you don't want to get caught working in Thailand, period. Most people won't have the right VISA and if you do get the right VISA its TAX issues, even if it is legal or not to trade fx here. And the government definition of working here is very broad. If you even "use your knowledge" while you are here you are considered to be working in Thailand.

So first of all what you do should never even come up in discussion. You own a company abroad and that's that.

I set up a company in Hong Kong, banking in Singapore, my servers are in US and Europe. I don't go near forex or work in Thailand, ever.

Just here to enjoy the fruit of my labors...
 
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And for the record, if you have a HK based company that doesn't do business in Hong Kong it's tax exempt. Same with Singapore. The banking in Hong Kong is near impossible to get unless you are extremely wealthy, so Singapore was the obvious choice. But using IBC's is the way to go for the "mobile" speculator...
 
If you want an HK bank account go this route....

- contact an HK bucket-lawyer about company formation
- take them up on their 'registered address service"
- open the bank account in that address

It costs a couple of grand and you end up with some annual company fees. The BIG plus side is you can then register the company with the CME and take advantage of their IIP programs. All your trading profits will be in a company account with zero tax.
 
I do operate a freelance web development business based in Australia, but I would never dream of doing that work remotely from a nearby country in order to reduce my living expenses. That would be just wrong.

Anyway, sounds like Fx will be kosher and I might give it a try. On a slightly related matter, I've been thinking of setting up a company here in order to buy property.

Thanks for all the great info and banter guys, I really appreciate it! I will track the thread for news of a meetup.
 
Mossy - there'a tribe of people wafting around the world who does this kind of stuff for a living. I was rolling around as usual and I started bumping into the same people in different countries.

Was like, hang on, what's going on here...?! Just mobile people who can work from anywhere with internet.

Not so much a cost thing, but why would you sit in an office when you can sit in a tiki hut bar doing the same thing with no overheads and have a good time ?!

Webbies, freelance writers, mobile speccies...
 
Then I found this a year back or so: The 4-Hour Workweek and Timothy Ferriss

The ultimate example of the lifestyle. Mainly because he makes his living from promoting it. But clearly I am not alone in my tumble weeding...

Thailand is a very good base of operations though, place to leave my "stuff"...
 
Yes, I haven't had a fixed address for 12 months. It's cheaper for me to travel than live in Australia, and, you're right, I've been able to "work" from some great spots. Even from a boat in the Mediterranean :)
 
DT - you should try that. Doesn't works well or easy anymore.

I just did, last month, ran into a brick wall, world is changing mate.

Or I just had a crappy provider, which is also possible but highly unlikely.
 
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DionysusToast said:
As for you getting chaperoned on a date - that is the exception and not the rule. In face, I have never once heard of a Thai girl needing to be chaperoned on a date in 15 years here.
Click to expand...

Chubby Monkey, are you sure you were actually being chaperoned and not free-loaded ?
I had a couple of first dates with birds who brought their mates along, ostensibly as a chaperone, but all they wanted was a free meal !
and boy can they order the most expensive stuff on the menu !
 
I was in their house and they were cooking, so ja I'm pretty sure.

My Thai people has never expected anything of me that they wouldn't expect from a Thai man.

This is a 10 000 year old culture and they have a few ideas of they how they like things. Your average westerner is quite prone to misinterpreting it in the context of their own cultures.

Freeloading is just one such an misinterpretation.

I have the cousins in the house. 2 of them. Most westerners would consider it freeloading. I love it. I want for nothing mate. My ice is finished some magically appears. Ran out of Feta the other night, what you know, there it is...salad perfected, I'd never have bothered to go and find some.

One of them made me pesto for my pasta the other day.

I go cycle mate, get back icebox is full, beers in the fridge.

Baby cries, there's a girls on it. I've got a two month old, I sleep all night every night.

So ya, by our cultural standards I have two freeloaders in the house, by their standards they're doing everything they possibly can to contribute and by far exceeding in their contribution to anything I could have paid towards this kind of lifestyle.

Just a matter of perspective.... the gender roles are a lot clearer and as such I have a bigger responsibility towards the financial side than I would have had in the west. But I don't live with fire breathing western lesbian/feminists dragons.

They're girls and I'm a man. They look pretty, I pay. How it works. They take care of **** and I relax. Pretty fair deal I think...
 
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These girls are doing so much for me that I'm starting to feel guilty. Money just doesn't begin to cover it.
 
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But in terms of the video I'd be glad to discuss the genocides committed by whichever cultures you're from ?

Ozzy - Aborigines?
USA - Indians?
Brits - The colonies ?

Name your culture gentleman and I will find your hypocrisy...
 
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