autumm
Master Member
- Joined
- Jul 1, 2003
- Messages
- 3,106
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Hi, I have signed up for an account last wednesday and opened up an e-saver account too.
Can I verify something here?
Am I right to say that in order to buy a share thru Stan Chart, you must have the money in your account because there's no T+3 so you have to pay on the spot for trades executed.
However, when you sell your shares, you do not need to wait for T+3 to receive the money in your settlement account too. It will be immediately transferred to you once the sale is executed?
You will need to have that amount in your settlement account to proceed with the trade but the amount would not be deducted straight upon trade execution. It will still be deducted on T+3.
Same goes for selling of shares. you will only receive it on T+3.
Anyone please correct me if i am wrong