The Stock Exchange of Thailand (SET) is confident new trading accounts will exceed their target this year, while retail investors could double over three years.
President Charamporn Jotikasthira said the SET's goal of 96,600 new stock trading accounts this year is possible after drawing 32,336 in the first quarter.
Of course, the recent bull run played a part in attracting new investors.
As of April 30 the SET had 866,533 combined securities trading accounts, of which 268,979 were active.
The number of individual investors as of last year was 506,120, an increase of about 200,000 over two years.
Retail investors who trade through margin loan accounts represent 17.1% of total individual investor accounts, with cash accounts making up the rest.
Some 25 of the 38 active securities firms provide internet trading to customers.
As of April, internet trading accounts numbered 517,169, of which 166,918 were active.
Internet trading accounted for 32.8% of total trading value.
However, the number of Thai investors remains very small, relative to countries of similar economic size and population such as Turkey.
In 2011, the Turkish stock exchange's market capitalisation was on a par with the SET, but its trading value was double the SET's and it had 1.3 million individual investors, said Mr Charamporn.
Bourses in Taiwan and South Korea also have more investors than Thailand.
Last year Taiwan had a population of 23 million, but stock trading accounts stood at 16.2 million, of which 9.11 million were individual investors.
South Korea boasted a population of 50 million last year and had 5.28 million individual investors in 2011.
With Thailand's population of 70 million, the potential for new investors is great if the SET can build an understanding of equities markets among Thais, said Mr Charamporn.
The exchange continues to provide investment education programmes including seminars, domestic roadshows and SET media productions.
It also encourages securities firms to provide investment training programmes for their customers.