Standard Chartered - Only Online Trading in town with no minimum commission

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Perisher

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They haven't deduct anythiNg yet. Thats why i find it weird

Erm, I think you are confused, like I said, it won't be shown immediately,it will be reflected only a few days(think it's 3) later. But you can use it already if what you did is sell. If you are buying, the same thing happened, so immediately you can't use whatever amount is shown in your account even if it shows there is $$ there.

E.g. you have 5k inside, u use 4k+/- plus to buy singtel, your account still show 5k, but if you try to buy anything more than 1k, cannot already. 3days later, it will be update to show you have 1k+/- left.
On the other hand, if you sell, say, you have 1k in your account, then you sell singtel 4k+/-, you immediately can use 5k to buy other things even though your account show 1k. likewise, it will be updated 3 days later.

Of course, if after 5 working days, and nothing in your account changes, are you sure your trade goes through already? if you are sure, then you better call scb and ask why there isn't any movement.
 

blurpandasg2014

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Erm, I think you are confused, like I said, it won't be shown immediately,it will be reflected only a few days(think it's 3) later. But you can use it already if what you did is sell. If you are buying, the same thing happened, so immediately you can't use whatever amount is shown in your account even if it shows there is $$ there.

E.g. you have 5k inside, u use 4k+/- plus to buy singtel, your account still show 5k, but if you try to buy anything more than 1k, cannot already. 3days later, it will be update to show you have 1k+/- left.
On the other hand, if you sell, say, you have 1k in your account, then you sell singtel 4k+/-, you immediately can use 5k to buy other things even though your account show 1k. likewise, it will be updated 3 days later.

Of course, if after 5 working days, and nothing in your account changes, are you sure your trade goes through already? if you are sure, then you better call scb and ask why there isn't any movement.
Thank u for ur explanation :)

Understand better now
 

Denikeve

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Since you have done this using scb(I assumed) locally, so how long does it take for them to refund you the left over after XD?

I did not receive any leftover dividends from the previous sabana and MLT reinvestment exercise I took part in. that's why I asked this question.
 

Perisher

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I did not receive any leftover dividends from the previous sabana and MLT reinvestment exercise I took part in. that's why I asked this question.

Next time I received a local Dividend, shall look out for the discount you described. Probably won't subscribe though because you mentioned there is no leftover dividends returns which to me sounds illogical.
 

anfielder

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I did not receive any leftover dividends from the previous sabana and MLT reinvestment exercise I took part in. that's why I asked this question.

Number of units is rounded down and there are no "leftover dividends".. However because the issue price of the drp units is usually slightly discounted you're not worse off.
 

Denikeve

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Number of units is rounded down and there are no "leftover dividends".. However because the issue price of the drp units is usually slightly discounted you're not worse off.

yes I just checked with the stand chart staff who called me for the second verification. they said the number of shares will be rounded down to the nearest whole number.
 

EvilPaladin

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anyone trading US stocks using SCB? As far as i understand, commission is low, but the Forex spread is high?

Also, instead of using their forex spread, could you go to any moneychanger to change your SGD to USD and then deposit into your security settlement acct?
 

Asphodeli

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anyone trading US stocks using SCB? As far as i understand, commission is low, but the Forex spread is high?

Also, instead of using their forex spread, could you go to any moneychanger to change your SGD to USD and then deposit into your security settlement acct?

I think there may be a cost for transferring in foreign currency leh. But then the super cheap comms somewhat offsets that, so overall still not bad la, mai hiam.

Yesterday's rates were 1.358843352538319 SGD/USD
 
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Verbatin

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there is a mthy servicing charges if u have a USD account with SCB. i think
need to maintain a cert XXX amount than will waive.

u save from forex conversion but u have to pay the mthly servicing fee

anyone trading US stocks using SCB? As far as i understand, commission is low, but the Forex spread is high?

Also, instead of using their forex spread, could you go to any moneychanger to change your SGD to USD and then deposit into your security settlement acct?
 

linxiaobei

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I'm not sure whether can you directly transfer the USD to your securities settlement account or not. Not from e$aver but from other bank accounts.
 

EvilPaladin

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I think there may be a cost for transferring in foreign currency leh. But then the super cheap comms somewhat offsets that, so overall still not bad la, mai hiam.

Yesterday's rates were 1.358843352538319 SGD/USD

what im see right now is 1.361 but ok, thanks!


there is a mthy servicing charges if u have a USD account with SCB. i think
need to maintain a cert XXX amount than will waive.

u save from forex conversion but u have to pay the mthly servicing fee

I'm not sure whether can you directly transfer the USD to your securities settlement account or not. Not from e$aver but from other bank accounts.


Thank u all! Guess i will stick with transferring from e$aver then.
 

galapogos

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Does the recent worldwide closure of their equities branch have any effect on their online trading?
 

sub_07

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Just submitted the paper work today....

Just submitted the paper work at one the the branch today.. Person told me its gonna take 8-10 days for it to be processed.

But is it true that we got to chase them to do it?? cos i saw some where in this forum that a few ppl's ppl account only got created only after they called in to chased as it was way past the 8-10 days.

Also, I'm planning to buy some Singapore and US stock with this account.. the fees charged and stuff should be okay hor??
 

Perisher

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If you mean scb trading account, $0 maintenance cost... I have open all 13-4 market, and most of them have $0 inside. Esaver also $0 maintainence cost as I often shift my $$ to ocbc 360 for months if not in use. Don't listen to rumours from people who never used before.

Btw, I think that guy is referring to FX saving account, not trading account.

This is the trading account,
https://www.sc.com/sg/ways-to-bank/online-trading.html

This is fx account, not the trading account.
https://www.sc.com/sg/save/current-foreign-currency.html
 
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naro

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If you mean scb trading account, $0 maintenance cost... I have open all 13-4 market, and most of them have $0 inside. Esaver also $0 maintainence cost as I often shift my $$ to ocbc 360 for months if not in use. Don't listen to rumours from people who never used before.

Btw, I think that guy is referring to FX saving account, not trading account.

This is the trading account,
https://www.sc.com/sg/ways-to-bank/online-trading.html

This is fx account, not the trading account.
https://www.sc.com/sg/save/current-foreign-currency.html
same here.. opened all currencies!!!
 

numbers

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hmm i only open 2 currency, if i want to open more how to go about it?

online banking can apply?
 
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