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

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imwarren

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It's $10.70 per counter per transfer iirc when I called Cdp to ask.. Still cheaper with like around $15 saving per counter per sales..

Fees @ CDP

For off market transfer S$10.70 (inclusive of GST) per 1,000 share per counter transferred, up to a maximum of S$107 (inclusive of GST) per counter

--> but not sure why Cdp website say per 1000 shares per counter now.. Do let us know how much u were charged

The $10.70 is if there is a change in beneficiary (i.e. off-market sale or gift). I remember reading somewhere that if you are just transferring CDP-Custodian or Custodian-Custodian with no change in beneficiary, it is waived (but i can't find the black-and-white now).

Anyway for small shareholdings, the $10.70 + SCB's commission charge of 0.2%, will still be cheaper than the $25 minimum charge by others.

Will update how long it takes, and much they charge once my transfer succeed.
 

Sinkie

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The $10.70 is if there is a change in beneficiary (i.e. off-market sale or gift). I remember reading somewhere that if you are just transferring CDP-Custodian or Custodian-Custodian with no change in beneficiary, it is waived (but i can't find the black-and-white now).

Anyway for small shareholdings, the $10.70 + SCB's commission charge of 0.2%, will still be cheaper than the $25 minimum charge by others.

Will update how long it takes, and much they charge once my transfer succeed.

Ya, that's what the Cdp Helpdesk tell me, say by right custodian to cdp is $10.70 each side, so it's up to the other side (scb in this case) to waive but sgx will still charge $10.70 per counter.

Ya work out to around per counter less than $7500 to make it worth while the time and effort to transfer to scb
 
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ice888

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when I applied for the trading account, I didn't have any facility with SCB so i was told I need to open an account with them. So i open the esaver acc with no min deposit. But i read somewhere on their site that the settlement account and other SCB accounts are treated separately. So when I'm doing fund transfer from other banks, do I have to transfer it to my esavers account first then do an internal transfer of funds or I could do the transfer from other banks directly to the settlement account?
 

EmPtYsOuLz

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Hi guys, a short question. Do i need to have a CDP account setup to begin trading through SCB esaver account?
Intending to buy nikkoam STI ETF.
 

power789

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i hope other banks and secureties firms start waking their f@cking idea up! Stop charging minimum commissions and stop being such a greedy fag.

All shall use SCB eventually and its them who lose out, haha, not us consumer!

Want to monopoly? hahah. lucky SCB came and pawn them all! :s13:
 

thisisnotme1212

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i hope other banks and secureties firms start waking their f@cking idea up! Stop charging minimum commissions and stop being such a greedy fag.

All shall use SCB eventually and its them who lose out, haha, not us consumer!

Want to monopoly? hahah. lucky SCB came and pawn them all! :s13:

Is there any catch with the no minmium commission thing?
Must i have a savings account with them?
Else where will the dividends go and how to make the payment for filled orders?
 

Litmuss

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Is there any catch with the no minmium commission thing?
Must i have a savings account with them?
Else where will the dividends go and how to make the payment for filled orders?

The catch is you can only buy and sell through scb since cdp is not the custodian for your shares. Theres no contra or shorting alllow. You want to buy stock, you must have the sufficient money in account first. Yes, you need to have a savings account with them. But if you have none, they will apply for a no frills Esaver account for you. That account allows you to transfer your money externally from other banks, and subsequently fund your securities tradind/settlement account for you to buy shares.

Dividends will automatically go to securities account in scb, but it will only be 1 working day later than that stock declared payout date. Say stock zxc indicates that payment for dividends will be on 25 June, you will receive it on 26 June instead.

You will need to fund your securities account first before you can buy any stocks.
 

previous

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Hi all,

Any one know what the minimum Qty ( Share ) purchase for HK stock.

Exp. SG Stock to be purchase minimum 1 lot ( 1000 share )

Thank
 

Sinkie

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i hope other banks and secureties firms start waking their f@cking idea up! Stop charging minimum commissions and stop being such a greedy fag.

All shall use SCB eventually and its them who lose out, haha, not us consumer!

Want to monopoly? hahah. lucky SCB came and pawn them all! :s13:

Mai lah, no minimum commission for them means no more contra which also means a significant drop in volume and liquidity since more than 70% of our daily volume are contra.. U wouldn't want sti to drop till 1800 because theres no buyer except scb user and market remaining in that level in an extended period
 

athletic91

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I still can't find a way to trade using the iphone browser. Always takes me to the mobile version of scb
 

Shiny Things

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Mai lah, no minimum commission for them means no more contra which also means a significant drop in volume and liquidity since more than 70% of our daily volume are contra.. U wouldn't want sti to drop till 1800 because theres no buyer except scb user and market remaining in that level in an extended period

I dunno, I think contra's a terrible idea, and the sooner it dies the better. It's pretty much an abuse of the T+3 settlement system.

It's bad for the brokers, because they're handing out interest-free loans instead of being able to charge interest on margin loans. It's bad for the exchange, because it cripples the development of derivatives markets and stock lending (because you don't need to borrow stock to be able to short it via contra). And it's bad for investors, because it gives them infinite leverage and thus infinite capacity to blow themselves up.

In fact, I'm having trouble thinking of anyone it's good for.

----------------------

I guess the brokers and the SGX are terrified of the collapse in volume that'll happen if they ban contra trading. (Is it really 70%, though? Contra's a retail thing, and there's no way the SGX's volume is >70% retail muppets.)

(And I doubt the STI would drop that far - or at all. Contra trading's a short-term thing, so it's not like people are holding huge long-term buy positions that they'd have to close out; and I'd imagine contra volumes are pretty much equally balanced between buyers and sellers... so if you ban contra, the net result would be pretty much a wash.)
 

santafluke

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Safari iphone not possible. I would buy a iPad if the Scb trading can be done on it.

I tried SCB trading platform on iPad using Safari and other browsers (like Dolphin). It was very bad experiences, the web pages often halted without any response.

I really hope they can someday develope an app for trading, or integrate trading function into their satisfactory Breeze app.
 

Sinkie

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I dunno, I think contra's a terrible idea, and the sooner it dies the better. It's pretty much an abuse of the T+3 settlement system.

It's bad for the brokers, because they're handing out interest-free loans instead of being able to charge interest on margin loans. It's bad for the exchange, because it cripples the development of derivatives markets and stock lending (because you don't need to borrow stock to be able to short it via contra). And it's bad for investors, because it gives them infinite leverage and thus infinite capacity to blow themselves up.

In fact, I'm having trouble thinking of anyone it's good for.

----------------------

I guess the brokers and the SGX are terrified of the collapse in volume that'll happen if they ban contra trading. (Is it really 70%, though? Contra's a retail thing, and there's no way the SGX's volume is >70% retail muppets.)

(And I doubt the STI would drop that far - or at all. Contra trading's a short-term thing, so it's not like people are holding huge long-term buy positions that they'd have to close out; and I'd imagine contra volumes are pretty much equally balanced between buyers and sellers... so if you ban contra, the net result would be pretty much a wash.)

Usually in sgx, there's 3 groups of traders providing liquidity and volatility; funds, proptraders (traders+Remiser+hedge funds) and the retailers traders (uncle/Aunty/students/sme's bosses etc)

Funds may or may not contra, the 2nd, 3rd groups are where the contra volumes comes from.. Hold 5 days with no need for margin or financing cost..

Imagine no contra, they have to cough out $35,000 margin to hold a $100,000 intraday position etc

So when contra extinct, see only the funds and retailers playing with price moving in a very huge range or else will be selling driving price down due to lack of buyers.

Then probably one will see many stocks in sgx moving likes jardine or diary farms..

But it will be good one will really see how our local stock market will really reflect on our locals income growth ($3000) as well

But just my assumptions..

Contra is like nuclear weapon, know how to make use of it, but it will destruct anyone who abuses it.. Stay away from it if one have no expertise to handle it
 
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power789

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Mai lah, no minimum commission for them means no more contra which also means a significant drop in volume and liquidity since more than 70% of our daily volume are contra.. U wouldn't want sti to drop till 1800 because theres no buyer except scb user and market remaining in that level in an extended period


where u get the logic no minimum commission = no contra?

what has it got to do with each other? :s22:
 

Sinkie

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where u get the logic no minimum commission = no contra?

what has it got to do with each other? :s22:

Just treat it as i heard from someone working at that management level who is able to make such decision.

lets put at end to this discussion

lets stick to the topic.
 
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