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

[mynazman]

is it possible to sell the share bought on the same day? cause from what I heard u need to have a minimum of $25k to day trade on other platform.

 

[Sinkie]

is it possible to sell the share bought on the same day? cause from what I heard u need to have a minimum of $25k to day trade on other platform.

No need, buy 2 shares of digiland can sell 2 shares of digiland on same day

 

[limster]

hi all, i just went to open a scb online trading account, but i realized the relationship manager didnt help me open a cdp account. Is it an automatic opening or is it cos scb is using nominal account so cdp is not required?

thanks and sorry if this has been asked and answered..

How did you pass CAR if you have no CDP account which means you have never traded before? Care to share the secret?

 

[Perisher]

orders filled alr, but when will they take the money out from the security settlement acc ? to pay for the stock i purchased?

2-3 days. It is actually taken out already, if you try to transfer your $$ in your settlement account out right now, you can't. The updated sum is always delayed a few days so sometimes you dunno how much you have in your settlement account. If you really wanna know, you need to keep track yourself.

 

[Keverus]

2-3 days. It is actually taken out already, if you try to transfer your $$ in your settlement account out right now, you can't. The updated sum is always delayed a few days so sometimes you dunno how much you have in your settlement account. If you really wanna know, you need to keep track yourself.

correct. and if u transfer in 10k to ur securities account, buy a stock using 7k, try to buy another that cost 4k, you will tio rejected even though the balance still shows 10k.

really have to track urself, this part i find quite annoying.

 

[Keverus]

how does the new commission work for scb? since now 100 shares?

not affected.

 

[Keverus]

hi all, i just went to open a scb online trading account, but i realized the relationship manager didnt help me open a cdp account. Is it an automatic opening or is it cos scb is using nominal account so cdp is not required?

thanks and sorry if this has been asked and answered..

SCB is a custodian. there is no CDP linkage. you will not receive those fanciful prospectus as well. which imo, is a plus actually.

 

[hypertrophy]

correct. and if u transfer in 10k to ur securities account, buy a stock using 7k, try to buy another that cost 4k, you will tio rejected even though the balance still shows 10k.

really have to track urself, this part i find quite annoying.

Go to online trading -> under the purchase share page, on the right hand side column there is a function called "check purchasing power" or smth along that line. If you click that it shows u exactly how much cash u have left in your respective settlement accounts

 

[Perisher]

Go to online trading -> under the purchase share page, on the right hand side column there is a function called "check purchasing power" or smth along that line. If you click that it shows u exactly how much cash u have left in your respective settlement accounts

Found it. Thank a lot! Took awhile.

So the more detailed instruction to find this purchase power is go to scb, log in, go to online trading, place a trade, on the right hand side you will find purchasing power, click refresh to see how much purchasing power you have left with all the different currency account in all it's glory.

I try to do a internal transfer from SGD settlement account to Esaver with whatever amount is left that is displayed, not possible. This is despite still having a purchasing power higher then displayed amount left in the sgd settlement account.

 

[hypertrophy]

Found it. Thank a lot! Took awhile.

So the more detailed instruction to find this purchase power is go to scb, log in, go to online trading, place a trade, on the right hand side you will find purchasing power, click refresh to see how much purchasing power you have left with all the different currency account in all it's glory.

I try to do a internal transfer from SGD settlement account to Esaver with whatever amount is left that is displayed, not possible. This is despite still having a purchasing power higher then displayed amount left in the sgd settlement account.

Apologies for the vague instructions.

Hmmm that's strange. Any idea why?
I usually just use that function to check how much power i have left to purchase shares.

Is it because the purchase power increases upon selling of shares? But only can use it for purchasing shares and not for withdrawing? Just a wild guess..

 

[Perisher]

Apologies for the vague instructions.

Hmmm that's strange. Any idea why?
I usually just use that function to check how much power i have left to purchase shares.

Is it because the purchase power increases upon selling of shares? But only can use it for purchasing shares and not for withdrawing? Just a wild guess..

I think so too. But testing this will have to wait till market opens and a little math to make sure its a test and not a real transaction. haha.

 

[Keverus]

Go to online trading -> under the purchase share page, on the right hand side column there is a function called "check purchasing power" or smth along that line. If you click that it shows u exactly how much cash u have left in your respective settlement accounts

wow, nvr knew this, thanks for the tip!

 

[felixleong]

seems like most ppl here got SCB account

I don't have

maybe I should open one too, free of charge anyway hor

 

[Perisher]

seems like most ppl here got SCB account

I don't have

maybe I should open one too, free of charge anyway hor

Yah, open lor, then can join us talk cheap cheap comm liao.

 

[Sinkie]

Yah, open lor, then can join us talk cheap cheap comm liao.

I think Felix, is like me is everytime hoot beyond the $25 comm de lah.

 

[Perisher]

then not worth it liao, coz above a certain amount it's the same as other bank's comm.

 

[klarklar]

then not worth it liao, coz above a certain amount it's the same as other bank's comm.

That is not right. If above certain amount, commission is 0.2% for SCB and 0.275% for the rest. Still a big difference. 27% cheaper for SCB.

 

[Perisher]

That is not right. If above certain amount, commission is 0.2% for SCB and 0.275% for the rest. Still a big difference. 27% cheaper for SCB.

I think u ignored the other brokerage's cash upfront account... above a certain amount, other brokerage with cash upfront is cheaper,

above 50k, even poems is cheaper... etc.

 

[felixleong]

That is not right. If above certain amount, commission is 0.2% for SCB and 0.275% for the rest. Still a big difference. 27% cheaper for SCB.

I using ocbc, but they see contract value one

under 50k is the 0.275
50-100k is 0.22
100k is 0.18

SCB is 0.2 for any size right, so overall definitely looks much cheaper

I prefer put my shares in CDP

however I now thinking of applying new strategy, since now can buy 100 shares per lot

can machiam build my own etf inside SCB
example buy 20 different reits like $100 x 20 = 2k = 1 lot reit etf

quite interesting now that I think of it

 

[Sinkie]

I using ocbc, but they see contract value one

under 50k is the 0.275
50-100k is 0.22
100k is 0.18

SCB is 0.2 for any size right, so overall definitely looks much cheaper

I prefer put my shares in CDP

however I now thinking of applying new strategy, since now can buy 100 shares per lot

can machiam build my own etf inside SCB
example buy 20 different reits like $100 x 20 = 2k = 1 lot reit etf

quite interesting now that I think of it

Can buy 100 share of digiland each day also for next 1000 days