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*OFFICIAL* Standard Chartered Bank Online Equities Trading

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Old 26-01-2016, 10:02 AM   #46
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Then you can call up SCB to ask who made those orders liao...maybe some hacker use your account?
already called

don't think it's hacker, most likely SCB back end cockup
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Old 26-01-2016, 10:05 AM   #47
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anyone experienced SCB reflect your portfolio wrongly?

I have transactions reflected in there that I did not do
you are leaving so much cash in your settlement account that people can use to do multiple trades?

normally i leave close to zero in SSA.

if funds are transferred from esaver to SSA, I will get sms alert.
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Old 26-01-2016, 10:14 AM   #48
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you are leaving so much cash in your settlement account that people can use to do multiple trades?

normally i leave close to zero in SSA.

if funds are transferred from esaver to SSA, I will get sms alert.
Left it there from the recent selling

many stop loss points triggered
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Old 26-01-2016, 01:16 PM   #49
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I finally have some time to start playing around with more accounts. Some questions.

1. I do not have any formal qualifications, but I have done trades before. Will I still be forced to go through some quiz to qualify?

2. The form allows the opening of settlement accounts for 10 markets.

a) Open all? (no reason not to?!)
b) I can only transfer the money from the SC's esaver to the settlement account for payment?
c) For foreign accounts, the bank's prevailing exchange rates apply? (I assume the bank will tell me how much to pay in SGD?)
d) What is the time limit to settle the payment?

3. To apply, I walk into any branch with the filled form, IC, and $1000 (+W8 BEN form), and I can get it done?
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Old 26-01-2016, 01:23 PM   #50
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I finally have some time to start playing around with more accounts. Some questions.

1. I do not have any formal qualifications, but I have done trades before. Will I still be forced to go through some quiz to qualify?
the quiz online still need to be done no matter you hit the 3 conditions by scb or not. The quiz is by SGX or MAS requirements, not SCB.
Anyway, if you traded 6 times before, SCB part no issue liao.

2. The form allows the opening of settlement accounts for 10 markets.

a) Open all? (no reason not to?!)
b) I can only transfer the money from the SC's esaver to the settlement account for payment?
c) For foreign accounts, the bank's prevailing exchange rates apply? (I assume the bank will tell me how much to pay in SGD?)
d) What is the time limit to settle the payment?
I think it's 13 markets, open all, and b) yes, c) correct, it will ask you to confirm if you agree to the rate before you exchange so no worries, d) it's immediate, there is no delay. no 3 day or what.

3. To apply, I walk into any branch with the filled form, IC, and $1000 (+W8 BEN form), and I can get it done?
They have the forms, but if you filled it liao then just pass them lor.
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Old 26-01-2016, 01:25 PM   #51
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I finally have some time to start playing around with more accounts. Some questions.

1. I do not have any formal qualifications, but I have done trades before. Will I still be forced to go through some quiz to qualify?

Yes. You can state what trades you made though.

2. The form allows the opening of settlement accounts for 10 markets.

a) Open all? (no reason not to?!)

Yup. Most importantly open the USD account also...for the markets it's up to you but other than SGX, good to open US, London and Europe markets

b) I can only transfer the money from the SC's esaver to the settlement account for payment?

Yup

c) For foreign accounts, the bank's prevailing exchange rates apply? (I assume the bank will tell me how much to pay in SGD?)

Yup, there is a confirmation screen before you do the conversion. Do note the spread is equivalent to their credit card currency conversion rate, about 1 to 1.5% depending on currency.

d) What is the time limit to settle the payment?

You must deposit cash in before you trade, so you won't be asked to settle it at all

3. To apply, I walk into any branch with the filled form, IC,
and $1000 (+W8 BEN form), and I can get it done?

Yup. Eh W8-BEN the bank might provide though.
Answers in bold.
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Last edited by Asphodeli; 26-01-2016 at 01:47 PM..
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Old 26-01-2016, 01:46 PM   #52
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the quiz online still need to be done no matter you hit the 3 conditions by scb or not. The quiz is by SGX or MAS requirements, not SCB.
Anyway, if you traded 6 times before, SCB part no issue liao.
I have a CDP account + a trading account at UOB Kay Hian that I made in 2011(?). I don't recall any quiz requirement. So this requirement is in place even for accounts on other securities firms?

I think it's 13 markets, open all, and b) yes, c) correct, it will ask you to confirm if you agree to the rate before you exchange so no worries, d) it's immediate, there is no delay. no 3 day or what.

They have the forms, but if you filled it liao then just pass them lor.
Right, so it is like those cash upfront kind of accounts? So the money should already be transferred into the securities account from the esavers.
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Old 26-01-2016, 02:17 PM   #53
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I have a CDP account + a trading account at UOB Kay Hian that I made in 2011(?). I don't recall any quiz requirement. So this requirement is in place even for accounts on other securities firms?
Yup. But I only did once when opening iOCBC. I guess you don't have to do liao.
You have already fulfilled everything. Just go open.

Right, so it is like those cash upfront kind of accounts? So the money should already be transferred into the securities account from the esavers.
Yup, that's right.
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Old 26-01-2016, 09:36 PM   #54
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Not sure if i will continue buying through SCB anymore. such a mess.

Monday, 'A' call to inform me that my order went through and ask me if i wan to cancel. so i said i want to cancel since i bought through other platform

Tuesday (today) , saw the orders reflected on my SCB acc, called SCB . C answered. Asked C about the holding, how long it wil take to update since i request to cancel and told him abt A on Monday.C then said 1 or 2 working day as the brokerage is different department. All is well until....

on further investigating C said order is expired (from here on he nv said anything is being cancelled) and I replied back i had the holdings with the purchased amount and i told him about A again. then he check and said A is not from brokerage dept, dunno what department ??? he repeat back the same answer (at this point already blur) How can expire yet i had the new amount of shares.

I ended the call since he can't explain it logically or an answer of any used.

log in my acc and saw the transaction ,same as bro Mancunian2, the trade is by call center.

damn annoyed. no idea what is happening. either A did/did not do her job ( no idea , seem like the cancellation wasn't shown on their system), or C is unsure or the whole thing is just badly managed

Updated: Got a called back from C, A did not help me to cancel as C said he checked with the brokerage department and there is no such request from me. so C helped me to send in the request to cancel. wonder what will happen if I did not call SCB today.

Now....WILL THE CANCELLATION BE SUCCESSFUL?

Last edited by Layers; 26-01-2016 at 09:39 PM..
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Old 26-01-2016, 09:43 PM   #55
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Err not to put anyone down but if you didn't confirm that your cancel order was not processed, why you continue to buy on other platform? You really want the stock that badly to buy on that day?

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Old 26-01-2016, 09:43 PM   #56
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Interesting, but where is B?
haha B got ommited cos he only check check my purchasing power and also say expire

text too long liao
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Old 26-01-2016, 09:45 PM   #57
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Err not to put anyone down but if you didn't confirm that your cancel order was not processed, why you continue to buy on other platform? You really want the stock that badly to buy on that day?

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the order was still in acknowledge the whole time on the online account. i do not not know it went through
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Old 26-01-2016, 09:46 PM   #58
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the order was still in acknowledge the whole time on the online account. i do not not know it went through
Then next time dont so fierce la...pay peanut for brokerage fee, get monkey service ma...

But still, no harm in complaining also

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Old 26-01-2016, 10:05 PM   #59
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Then next time dont so fierce la...pay peanut for brokerage fee, get monkey service ma...

But still, no harm in complaining also

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haha i guess. less features is ok but no information given during glitches and bad aftermath support is scary
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Old 26-01-2016, 10:07 PM   #60
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haha i guess. less features is ok but no information given during glitches and bad aftermath support is scary
Yah that's why I don't dare to use their stop loss or cancel order feature

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