*Official* Shiny Things club

[havetheveryfun]

I want to open an account to SC to start my investment on IWDA. saw their online form that requires customer account/assessment review but all my answers are No. How can I possibly open a trading account with SC?

Can anyone advise? Thanks

Sent from Samsung SM-G910G using GAGT

u go the branch and open, then just act like u very sakti, say u got dbs Vickers account/uob kay hian account/POEMs/etc , trade before, know what is sti etf, and the RM will pass u already

 

[sgbsgb]

Hi Joshua, i book your book and decided to follow your advice in investing. I opened an MBKE account and decide to follow your recommendations to invest in an monthly investment plan. I am able to select ES3 and A35 in MIP but i couldnt find IWDA ETF. So do i have to use another broker for yr recommended IWDA?? I do appreciate your help as i am investing for the 1st time in my life. Thank you in advance.

 

[Clone_]

Hi Joshua, i book your book and decided to follow your advice in investing. I opened an MBKE account and decide to follow your recommendations to invest in an monthly investment plan. I am able to select ES3 and A35 in MIP but i couldnt find IWDA ETF. So do i have to use another broker for yr recommended IWDA?? I do appreciate your help as i am investing for the 1st time in my life. Thank you in advance.

You need to open an online trading account with Standard Chartered & an esavers account.
Esavers has a minimum of $1000 for no fall below fee and online trading has a $10 minimum commission.

 

[sgbsgb]

You need to open an online trading account with Standard Chartered & an esavers account.
Esavers has a minimum of $1000 for no fall below fee and online trading has a $10 minimum commission.

thank you for your reply. Any alternative for global etf within mbke if i do not wish to open an online trading account with scb yet? Or isit advisableif i just focus on ES3 and A35 for MIP at the moment first?

 

[Clone_]

thank you for your reply. Any alternative for global etf within mbke if i do not wish to open an online trading account with scb yet? Or isit advisableif i just focus on ES3 and A35 for MIP at the moment first?

Can't advice on that because I'm honestly as new to investing as you are.
Do take note that MBKE has a custody fee for foreign shares though.

Foreign Custody Fee


SGD2* per counter per month
(subject to max. of SGD150* per quarter)

Waiver Conditions:

At least 2 trades per month or 6 trades per quarter; or
Suspended/Delisted counters​

Also, SC doesn't allow odd lots meaning if you want to buy odd lots meaning if you want to buy it you have to go at 100 (47.21x100) at once which currently cost ~USD$4721...

 

[Bedokian]

Also, SC doesn't allow odd lots meaning if you want to buy odd lots meaning if you want to buy it you have to go at 100 (47.21x100) at once which currently cost ~USD$4721...

You can buy 1 share from US markets.

 

[Shiny Things]

Hi Joshua, i book your book and decided to follow your advice in investing. I opened an MBKE account and decide to follow your recommendations to invest in an monthly investment plan. I am able to select ES3 and A35 in MIP but i couldnt find IWDA ETF. So do i have to use another broker for yr recommended IWDA?? I do appreciate your help as i am investing for the 1st time in my life. Thank you in advance.

So I think I might've explained this in the book, but if I didn't make it clear enough: StanChart is the best choice for new investors who want to buy overseas-listed shares like IWDA. Their brokerage is pretty cheap, and they don't charge any hidden fees for holding those shares or processing their dividends. Yes, this means you have to have two brokerage accounts; I'm not thrilled about that either, because it makes things a tiny bit more complicated, but it's not that much extra work.

 

[Perisher]

Can't advice on that because I'm honestly as new to investing as you are.
Do take note that MBKE has a custody fee for foreign shares though.



Also, SC doesn't allow odd lots meaning if you want to buy odd lots meaning if you want to buy it you have to go at 100 (47.21x100) at once which currently cost ~USD$4721...

As per what Bedokian has said, anyone can buy 1 share when it comes to the US market. It doesn't even matter which brokerage you use.
Do note that the comms involved usually make it not worthwhile to buy 1 share.

The 100 share thing only applies to SG market but it's not a brokerage thing, it's SGX's rules.
Just as 1 share is not a brokerage thing, it's the US market's rule.

 

[ulancus]

Also, SC doesn't allow odd lots meaning if you want to buy odd lots meaning if you want to buy it you have to go at 100 (47.21x100) at once which currently cost ~USD$4721...

Actually that is not true. I had recently opened up SC trading account and was able to purchase 40 shares IWDA from LSE. You just need to have sufficient funds in your USD securities account before you purchase the stock or else SC trading system will not permit the transaction.

Also, based on my previous experience, having no custodian fee is really a big bonus. I was holding some US stocks (NYSE/NASDAQ) for a few years and I was charged $2 per counter per month which can adds up to quite a bit. I personally find SC much cheaper if you compare it with most of the brokerages in Singapore.

Personally, I find the GUI of SC online Internet/trading portal not that user friendly. I called up their support and they had all my queries answered and it was pretty straightforward after that.

 

[doody_]

The only negative for SCB now is the $10 minimum charge... still trying to qualify for their priority banking customer so it can be waived

 

[menboogiya]

Hi guys

I opened a SC trading account, but to trade IWDA on LSE, how can I open a USD settlement account?

 

[tomentus]

Hi guys

I opened a SC trading account, but to trade IWDA on LSE, how can I open a USD settlement account?

When you open SC. All the diff currencies will be opened together and you have to transfer money in there before you can start trading. If you login and don't see the diff currencies. You may have to call hotline

 

[menboogiya]

When you open SC. All the diff currencies will be opened together and you have to transfer money in there before you can start trading. If you login and don't see the diff currencies. You may have to call hotline

so now in my ibanking i see just 3 accounts:

Esaver
Settlement
Trading acc

all in SGD.

Does this mean that only SGD was opened and I have to call hotline to open the other currencies? Thanks!

 

[menboogiya]

so now in my ibanking i see just 3 accounts:

Esaver
Settlement
Trading acc

all in SGD.

Does this mean that only SGD was opened and I have to call hotline to open the other currencies? Thanks!

can disregard this, i will ring them up! I have another question regarding market fee, is that applicable if we were to purchase IWDA?

 

[tomentus]

can disregard this, i will ring them up! I have another question regarding market fee, is that applicable if we were to purchase IWDA?

Yes You will have to call them to open up the other currencies.
Yes market fees are applicable on all buy and sell

 

[sgbsgb]

So I think I might've explained this in the book, but if I didn't make it clear enough: StanChart is the best choice for new investors who want to buy overseas-listed shares like IWDA. Their brokerage is pretty cheap, and they don't charge any hidden fees for holding those shares or processing their dividends. Yes, this means you have to have two brokerage accounts; I'm not thrilled about that either, because it makes things a tiny bit more complicated, but it's not that much extra work.

Thank u Joshua for your valuable info. Will follow your advice and open scb trading account.

 

[TzuyuLove]

Really? Over the last five years, ES3 has returned about 4% per year annualised (including dividends), and that's with the hefty 2015 selloff in the middle. Over the last year it's returned 20% including dividends

can teach moi how to calculate moi noob



been putting 100-200 bucks in POSB investsaver since 2013

 

[Bedokian]

Yes You will have to call them to open up the other currencies.
Yes market fees are applicable on all buy and sell

I don't think you can call up. IIRC you will need to go down to the branch and open up the rest.

 

[Shiny Things]

can teach moi how to calculate moi noob

So I'll confess I didn't do this calculation by hand. I've got access to Reuters' Eikon platform, which—while it's not anywhere as good as Bloomberg—has plenty of data and a few good analytics, one of which is a really good total-return calculator. You point it at a stock, tell it the period you want to look at, and it spits out the price return (how much the stock price has gone up) and total return (how much the stock price has gone up, plus how much you've made from reinvesting your dividends).

And yeah, even though 2015 was pretty rough for emerging markets, the STI is still looking pretty healthy over a one- and a five-year window.

 

[Perisher]

can disregard this, i will ring them up! I have another question regarding market fee, is that applicable if we were to purchase IWDA?

By market fees, you meant commissions? Yup, applicable on all buy/sell.