Question on Contra on dbs vickers and ibanking

apple459721

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Question about dbs vickers.

I usually buy share using cash upfront, i top up to vickers then i buy.

What happen if i straight buy using cash? instead of cash upfront?

And the buying limit is like 30k+
 

apple459721

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T+5 but on t+4 they will start chasing liao...
U got apply for Eps or Giro?

Sent from OPPO X9079 using GAGT
Mine is giro.

Oh so buying by cash instead of cash upfront means they lend you money first to buy.

Later t+4 they will auto deduct from my bank acc?

What if my acc no enough money?
Example i buy 15k worth of share using cash, but my bank only gt like 5k after t+4
 
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xersion

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Mine is giro.

Oh so buying by cash instead of cash upfront means they lend you money first to buy.

Later t+4 they will auto deduct from my bank acc?

What if my acc no enough money?
Example i buy 15k worth of share using cash, but my bank only gt like 5k after t+4
They will keep on chasing u till t+6 after which will force sell

Sent from OPPO X9079 using GAGT
 

waxqube

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Oh i see, thanks..

Cos i just sold a share by cash and my bank no enough money to buy new share cos havent yet t+5, after t+5 den it will credited to the bank acc..
Cos i always buy share by cash upfront. I top up first then buy

Call them to offset the buy balance with your sales proceeds.
 

apple459721

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I don't mean the buy limit but rather offset what you owned them. Else your proceeds will come in after it's supposed to be deducted (according to you), right?


Maximun days they will keep chasing me the money is t+6 right?
I think by then, my sale proceed will already come in since it is only t+5?

is it possible?
 

Xylvis

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Anyone using cash upfront to buy shares?

I dont quite get it why I can always buy using cash upfront (top-up), but whenever I sell, most of the time it will prompt that I do not have enough shares to sell
 

apple459721

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1) Nothing wrong with SCB, no minimum commissions is very cheap! You can queue your orders and let it fill over many days with no extra costs!!!

2) You dont have to create CDP acct first. You can open it with your DBSV acct.

3) Cash trading means place your buy order first and pay for it later within next 3 days via EPS for example. Cash upfront means you deposit your money into DBSV first and it will be subtracted from when you first place your buy order. So your buying limit is based on how much you deposit into DBSV which is done via DBS internet banking.
For cash trading, you need to submit your bank acct statement, CDP statement, pay slip, etc. for DBSV to give you a certain amt of buy and sell limit.
Cash upfront is only for buying, and selling within next 3 days. If you sell after next 3 days, it will be treated as normal cash sell.

4) There is no buy contra if I am not wrong. If you dont sell within next 3 days, it is not contra.
If you sell within next 3 days, then you can indicate the contra checkbox so that you need not pay for the buy order because DBSV will offset the buy and sell orders. You need to pay for the losses though if any.



What happen if dont sell within 3 days but i tick contra?
or
i sell within 3 day but i dont tick contra?
 

tubaron

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Does brokerage fees apply for contra within the same day, and once during buy, and then once more during sell?
 

dantom04

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Need some help.. let’s say my buying limit is 30k n my selling limit is 10k.. within a day I buy shares that cost me $20k n before closing I can sell it for $30k... meaning I will get $10k profit...so is consider contra right?..but the qn is : can I sell all shares for $30k when my selling limit is only $10k???
 

reddevil0728

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Need some help.. let’s say my buying limit is 30k n my selling limit is 10k.. within a day I buy shares that cost me $20k n before closing I can sell it for $30k... meaning I will get $10k profit...so is consider contra right?..but the qn is : can I sell all shares for $30k when my selling limit is only $10k???

Can request for higher sell limit?
 
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