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

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Asphodeli

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cos i just closed my esaver account few months back ... as i find it no use ... now if i open scb trading account i need to open a saving account ...

also it means i need to mantain the trading account as long as i have holdings traded through them ....

i am currently using dbs vickers cash upfront account .. minimum $12 or 0.12% commision (until 31 dec) ....
No maintenance fee for online trading account.

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royalshadow

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I am a newbie to SCB and I have 2 questions here:

1. Is it possible to buy a stock and sell within T+3? What about if I buy and sell within the same day?

2. After I have sold my stock, I believe the money will be credited to my account immediately and I can use it right away to purchase my new stock, am I right?
 

n1ef5ng

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1 :no 2: yes
I am a newbie to SCB and I have 2 questions here:

1. Is it possible to buy a stock and sell within T+3? What about if I buy and sell within the same day?

2. After I have sold my stock, I believe the money will be credited to my account immediately and I can use it right away to purchase my new stock, am I right?
 

linxiaobei

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I am a newbie to SCB and I have 2 questions here:

1. Is it possible to buy a stock and sell within T+3? What about if I buy and sell within the same day?

2. After I have sold my stock, I believe the money will be credited to my account immediately and I can use it right away to purchase my new stock, am I right?
No. It is something like cash upfront account. You need money inside the settlement account before you commence your trade.

Yes you can use the cash immediately to purchase stock after selling but you cannot transfer the money until it appeared in your settlement account.

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nomoreliaola

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anyone tried to trade using SRS $ (with dbs) with this SCB trading account, do-able ma?

or for the matter, anyone trade any method to trade using SRS $ (e.g. to buy unit trusts) sorry i know its OOP for the second qn
 

bin8lee

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Buy $12, Sell $12. Total $24.
If you are buying in quantity of 6k+ per trade, it's worth it.

Otherwise, you just need a scb dash account and a trading account which don't have any sort of maintenance fee.

Also, btw, if you are buying overseas stocks, DBS also uses a custodian, that means you can't sell using other brokers.

thanks for sharing
 

nomoreliaola

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eh paiseh again haha .... in general ah , asssuming DBS online is $12 minimum or 0.12% commision, whats the maximum value whcih make SCB worth it ah?

also, buy vs sell txn -- same amount of fees/charges paid ?

sorry and thanks !
 

linxiaobei

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eh paiseh again haha .... in general ah , asssuming DBS online is $12 minimum or 0.12% commision, whats the maximum value whcih make SCB worth it ah?

also, buy vs sell txn -- same amount of fees/charges paid ?

sorry and thanks !
Rough guide will be...less than 10k per transaction, use scb.

Commissions are charged on per transaction basis. Both buy and sell. And it depends on your buying/selling price.

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nomoreliaola

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wa .. tmd. .. i signed up for the dash (mcash account) , then now when i try to sign up for the saving account (for purpose of trading) online, they throw me error. i called CS and they said need go down PS branch to sign up , just cos i already signed up for the mcash account ... walau ...

EDIT: ah, i got the answer already : http://forums.hardwarezone.com.sg/96636238-post4558.html
this further explains why i cancelled all my cards with them
 
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Perisher

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wa .. tmd. .. i signed up for the dash (mcash account) , then now when i try to sign up for the saving account (for purpose of trading) online, they throw me error. i called CS and they said need go down PS branch to sign up , just cos i already signed up for the mcash account ... walau ...

EDIT: ah, i got the answer already : http://forums.hardwarezone.com.sg/96636238-post4558.html
this further explains why i cancelled all my cards with them

This dash account is a joint thing with Singtel, that's why they can't auto link your scb.
 

xiaonub

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hey all,

just applied for trading account at scb.. wondering how long before it will be ready?

Hey, you managed to open an account?
Which branch did you go to, and did they ask you to do the test where u had to have evidence that you completed 6 trades before?

I am still contemplating between POSB Investsaver vs SCB's online trading platform to do DCA every month... been thinking about it for some time but nothing has been done yet!

Thank you for your replies :D
 

xersion

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Hey, you managed to open an account?
Which branch did you go to, and did they ask you to do the test where u had to have evidence that you completed 6 trades before?

I am still contemplating between POSB Investsaver vs SCB's online trading platform to do DCA every month... been thinking about it for some time but nothing has been done yet!

Thank you for your replies :D

Moneymind has a topic on this... For below 1k per mth, maybank is the most cost effective...

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potatoe8

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Hi guys,




Is there a way to set your selling order to be until everything is sold, instead of manually setting it everyday when it expires?
 
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