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Can Thai citizens trade in the US Stock Market


dadadies
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Hi. Can Thai citizens trade in the US Stock Market? I know that TD Ameritrade allows non US citizens to open accounts and possibly trade in the US stock Market but I don't know if Thai citizens can do it. This question applies to Loas, Vietnam, and other non US countries. If you know anything about it please let me know.

I am trying to help setup trading accounts for non US citizens, specifically family and friends, and help them with making money in the US stock market so that they can financially help themselves but also help me financially for when I travel to their country. For example, I would need them to set aside some of the money to buy and or establish properties, businesses, etc. Specifically for me but It would all be in their name. They can of course use the rest of the money to do their own businesses or whatever they want.

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11 hours ago, dadadies said:

Hi. Can Thai citizens trade in the US Stock Market? I know that TD Ameritrade allows non US citizens to open accounts and possibly trade in the US stock Market but I don't know if Thai citizens can do it. This question applies to Loas, Vietnam, and other non US countries. If you know anything about it please let me know.

I am trying to help setup trading accounts for non US citizens, specifically family and friends, and help them with making money in the US stock market so that they can financially help themselves but also help me financially for when I travel to their country. For example, I would need them to set aside some of the money to buy and or establish properties, businesses, etc. Specifically for me but It would all be in their name. They can of course use the rest of the money to do their own businesses or whatever they want.

I would hazard a guess that it depends upon where you wish to trade from. If you are a Thai Citizen in the USA with a bank account, address, Permit to work , a taxpayer there and have money then I think you can, but if you are a Thai citizen in Thailand wanting to open an account based in the USA, then possibly not.

Some trading platforms allow Nasdaq trade, for example I am a UK citizen and can trade in US Stocks through my broker, but only after having met certain criteria. I can also access my account from the Philippines and trade while in the Philippines, but I cannot use my Philippine Bank account or Card to credit or debit my UK Sharedealing account. Therefore my Account is UK Centric as that is where I am a citizen from.

It might be that there are Thai Trading platforms which allow you to trade in the US Stock Markets, but what you are suggesting in your post is more than likely going to flag up as a money laundering operation / Boiler room scam / Fraudulent Activity / to someone, and alarm bell will be ringing. Loudly.

Opening accounts for other people and using your own money to finance them and then hide the cash trail is naughty and will get you in a lot of trouble. Federal Prison level of trouble if you're in the USA, I would imagine.

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TD Ameritrade does state that non US citizens can open trading accounts with them to trade in the US stock market. The specifics of what is allowed, what banks, etc, is what I am concerned with. Non US citizens will be taxed by their own country which is different for each country. I am hoping to find a non us citizen, in this case a Thai citizen, who is already investing in the US stock market so they can inform me so I can inform the people I am trying to help.

The money laundering part, whether I initially finance them or not, as long as I am not receiving large sums of 'untracked' cash from them, (which the legal issue here for the federal government is me and others not letting the federal government take a chunk of that money and using it however they want'), is not money laundering. Basically all I am doing is helping non a US citizen invest in the US stock market. There's nothing illegal about that.

I could just ask TD Ameritrade myself, but I think they won't be able to inform me much in the process unless I'm applying as a non US citizen myself. Prob the best I can get from them is what kind of banks do Thai citizens usually use in which case that might be enough.

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On 1/21/2022 at 6:11 AM, dadadies said:

TD Ameritrade does state that non US citizens can open trading accounts with them to trade in the US stock market. The specifics of what is allowed, what banks, etc, is what I am concerned with. Non US citizens will be taxed by their own country which is different for each country. I am hoping to find a non us citizen, in this case a Thai citizen, who is already investing in the US stock market so they can inform me so I can inform the people I am trying to help.

The money laundering part, whether I initially finance them or not, as long as I am not receiving large sums of 'untracked' cash from them, (which the legal issue here for the federal government is me and others not letting the federal government take a chunk of that money and using it however they want'), is not money laundering. Basically all I am doing is helping non a US citizen invest in the US stock market. There's nothing illegal about that.

I could just ask TD Ameritrade myself, but I think they won't be able to inform me much in the process unless I'm applying as a non US citizen myself. Prob the best I can get from them is what kind of banks do Thai citizens usually use in which case that might be enough.

Yep, probably your best bet is to email ameritrade directly, maybe their customer service dept, or perhaps try another platform and ask.

I'm not appraised of the laws in the USA regarding trading as I'm from the UK, hence my somewhat speculative reply.

However, the legal issue for the Federal Govt is whether or not that cash is taxable and traceable. Tax avoidance is perfectly legal, Tax evasion is not.

 

 

All I'm saying is to practice a bit of due diligence, but I can only speak from a UK perspective.

 

Edited by Butch
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5 hours ago, Butch said:

Yep, probably your best bet is to email ameritrade directly, maybe their customer service dept, or perhaps try another platform and ask.

I'd go for that👍 US  trading laws are very specific, best off asking the experts.

Edited by Lemondropkid
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