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

[evets]

anyone could provide feedback on the SCB trading platform?
If i understand correctly, shares bought with SCB doesnt go to CDP, so its like having a bet with the bank..

Its abit similar to Saxo account.. but the bid-ask price sometimes like different from SGX bid-ask.. will SCB price be the same?

shares bought through scb are kept in the bank's custody under your account. it is unlike stock brokage houses where shares all are stored in cdp.

 

[fuschia]

any idea how we get dividends for stocks we bought thru standard chartered trading platform??

It will be credited to your scb account automatically.

 

[MikeDirnt78]

In my experience, I was really disappointed with their customer service.. and my rulebook is never choose a brokerage with poor support.. but hopefully I can understand them further if I make a call sooner or later..

If you put on your ego, you lose on the no frills platform. Personally i have saved a few hundred bucks with them as i dont buy in big amount.

 

[metallickgoz]

If you put on your ego, you lose on the no frills platform. Personally i have saved a few hundred bucks with them as i dont buy in big amount.

not really ego ba.. if u are parting your money to a brokerage that doesn't give answers or support, i think i will give it a miss

 

[comeonshowme]

not really ego ba.. if u are parting your money to a brokerage that doesn't give answers or support, i think i will give it a miss

That will depend on what you are looking for: good service but pay standard comm, or so call no min comm with less than expected service. Every investor got his own preference...

But I still think ultimately, the most important is still you able to make from the market. If not, even they refund the comm to investors also no use...

 

[XPAC]

Has the $100 worth of 2 free trades been credited back to SCB customers?

 

[metallickgoz]

That will depend on what you are looking for: good service but pay standard comm, or so call no min comm with less than expected service. Every investor got his own preference...

But I still think ultimately, the most important is still you able to make from the market. If not, even they refund the comm to investors also no use...

true true.. actually i was looking at a minimum support.. maybe because i send an email of 3 qns to SCB and the CSO who replied just deadly refer me to the FAQ when my answers cant be found.

I did send alot of emails to other discount brokerages, with prompt and swift answers to each qn.
thats y im abit doubtful of SCB.. that the CSO cant even answer some questions

 

[MikeDirnt78]

I did send alot of emails to other discount brokerages, with prompt and swift answers to each qn.
thats y im abit doubtful of SCB.. that the CSO cant even answer some questions

thats because the other brokers are eager to earn from you

frankly speaking, if you read the whole of this thread, 80% are really dumb questions. i suspect these people dont understand english. so i hope your questions belong to the 20%.

 

[MikeDirnt78]

Has the $100 worth of 2 free trades been credited back to SCB customers?

i got my rebates already

 

[XPAC]

i got my rebates already

thats strange. I have not got my rebates yet.
thanks anyway

 

[MikeDirnt78]

thats strange. I have not got my rebates yet.
thanks anyway

i think it will depend on when was your 2 transactions. mine is after ~6 weeks

 

[metallickgoz]

thats because the other brokers are eager to earn from you

frankly speaking, if you read the whole of this thread, 80% are really dumb questions. i suspect these people dont understand english. so i hope your questions belong to the 20%.

frankly i think my question is in the 50% space

 

[takishi]

just want to share what i experience today on SCB platform.

I put up a limit order for a counter in the closing minutes of the market.

Sense that my price cannot get, i proceed to cancel it to put up a market order right away. Usually once you cancel, very soon you will get the sms and email confirmation. but i did not get it.

Then i get a sms telling me my market order rejected cause no purchase power. Check my status, show my earlier limit order cancel is pending.

alamak, market closing, cannot buy, counter price very attractive.

Called CS, checking, put on hold. then the price rebound and market close. CS say she cannot do anything also, damn sian. Then sms come in, my limit order filled.

Do you think there is a need to be concern over this?

 

[MikeDirnt78]

just want to share what i experience today on SCB platform.

I put up a limit order for a counter in the closing minutes of the market.

Sense that my price cannot get, i proceed to cancel it to put up a market order right away. Usually once you cancel, very soon you will get the sms and email confirmation. but i did not get it.

Then i get a sms telling me my market order rejected cause no purchase power. Check my status, show my earlier limit order cancel is pending.

alamak, market closing, cannot buy, counter price very attractive.

Called CS, checking, put on hold. then the price rebound and market close. CS say she cannot do anything also, damn sian. Then sms come in, my limit order filled.

Do you think there is a need to be concern over this?

what time did you send your limit order and cancel? you know that you cant cancel during pre-close?

i have canceled numerous times during trading hourse. you cant rely on the email and sms because they are delayed. but if you check order status, the cancel will fill quickly.

 

[Sinkie]

just want to share what i experience today on SCB platform.

I put up a limit order for a counter in the closing minutes of the market.

Sense that my price cannot get, i proceed to cancel it to put up a market order right away. Usually once you cancel, very soon you will get the sms and email confirmation. but i did not get it.

Then i get a sms telling me my market order rejected cause no purchase power. Check my status, show my earlier limit order cancel is pending.

alamak, market closing, cannot buy, counter price very attractive.

Called CS, checking, put on hold. then the price rebound and market close. CS say she cannot do anything also, damn sian. Then sms come in, my limit order filled.

Do you think there is a need to be concern over this?

you send a limit order A
you cancel the limit order A thinking the order wil be cancelled immediately
you send a new market order B
your market order B is rejected because of not enough purchase power
you check your limit order A and is still in pending cancel
you called cso n verify
market closed
you receive sms that your limit order A is filled

which means the limit order is already filled by the central dealer, before you send cancel order, just that the reply from central dealer is slower or central dealer has already receive your cancel order but he is trying to fill your limit order A first before he see whether he can acknowledge your cancel limit order A

for your information, the execution is done by a central dealer, not direct market access, because as of now, sgx is still not able to process market order so therefore i suspect the central dealer that execute your order is a human broker so dont expect the reply for your order status to be fast

 

[Sinkie]

what time did you send your limit order and cancel? you know that you cant cancel during pre-close?

i have canceled numerous times during trading hourse. you cant rely on the email and sms because they are delayed. but if you check order status, the cancel will fill quickly.

i dont think you can particpate in pre-close or send in new order after 5pm in scb, correct me if im wrong

 

[Sinkie]

thats because the other brokers are eager to earn from you

frankly speaking, if you read the whole of this thread, 80% are really dumb questions. i suspect these people dont understand english. so i hope your questions belong to the 20%.

cso dont execute order, they are a seperate business department from the brokers. they are just merely doing their jobs, but to be fair to standchart, their cso are busy people, limited man power but bombarded by many many questions

 

[Sinkie]

anyone could provide feedback on the SCB trading platform?
If i understand correctly, shares bought with SCB doesnt go to CDP, so its like having a bet with the bank..

Its abit similar to Saxo account.. but the bid-ask price sometimes like different from SGX bid-ask.. will SCB price be the same?

shares brought with scb will not go to cdp but to a custodian account which is held seperately from the banks, so if scb bankrupt, your shares are spared since it is a seperate entity from scb

 

[MikeDirnt78]

cso dont execute order, they are a seperate business department from the brokers. they are just merely doing their jobs, but to be fair to standchart, their cso are busy people, limited man power but bombarded by many many questions

yes they dont execute orders. but they have a duty to promote the company. and if they are free, of course they can promote better. i do agree on the constraint at SCB side. trying to implement low cost to both sides is not easy while maintaining good support. but seriously, if only the dumb questions can be contained, im sure SCB can spend time answering to the right questions.

i dont think you can particpate in pre-close or send in new order after 5pm in scb, correct me if im wrong

i have not tried so i dont know. to me its not really important. as a long term investor, im less concerned to a few bids different.

 

[MikeDirnt78]

shares brought with scb will not go to cdp but to a custodian account which is held seperately from the banks, so if scb bankrupt, your shares are spared since it is a seperate entity from scb

shares are held under raffles nominee account. you will see on your statement if you did transfers.