*OFFICIAL* Standard Chartered Bank Online Equities Trading

[CrashWire]

Like that not worth liao compared to DBS.

How much is DBS offering?

Trying to find my "interest rate shown" but don't see any... Can you screenshot your statement and share?

 

[radioshack]

Currently all my SGX Holdings are all in SCB as they are my first broker when the brokerage landscape was not so saturated and they started out with no min comm. They were like the current day tiger, moomoo back in early 2010s. Do u all think it's worth it to transfer out all my SGX Holdings to FSMone? Transferring out also incur transfer fees.

I also have some small positions of US Stocks in SCB but planning to sell them away ..so no need to transfer. Most likely will open a IBKR SG account and start my US Stocks journey there fresh.

So my plan is to

SGX Stocks--> FSMone
USD Stocks--> IBKR SG

Practical ?

 

[highsulphur]

Currently all my SGX Holdings are all in SCB as they are my first broker when they started out with no min comm..they were like the current day tiger, moo moo back in early 2010s. Do u all think it's worth it to transfer out all my SGX Holdings to FSMone as transfer out also incur transfer fees

I also have some small positions of US Stocks in SCB but planning to sell them away ..so need to transfer. Most likely will open a IBKR SGaccount and start my US Stocks journey there fresh.

So my plan is to

SGX Stocks--> FSMone
USD Stocks--> IBKR SG

Practical ?

are you going to trade those shares with SCB anytime soon? Otherwise just hold it there and count towards your AUM with them. If it is more than 200k, you can get priority banking status and free 12 priority passes to use.

 

[radioshack]

are you going to trade those shares with SCB anytime soon? Otherwise just hold it there and count towards your AUM with them. If it is more than 200k, you can get priority banking status and free 12 priority passes to use.

I will keep my DBS and Landlease REITS for the long term, so therefore just keeping for them dividends. If their prices are good..I will probably add some positions. Transferring them out will incur transfer fees

Most probably, I will keep my SCB for SGX equities and sell off my US Stocks. Start US Stock journey at IBKR SG

No point going through so much trouble to migrate just to save a few dollars

 

[elvintay07]

Currently all my SGX Holdings are all in SCB as they are my first broker when the brokerage landscape was not so saturated and they started out with no min comm. They were like the current day tiger, moomoo back in early 2010s. Do u all think it's worth it to transfer out all my SGX Holdings to FSMone? Transferring out also incur transfer fees.

I also have some small positions of US Stocks in SCB but planning to sell them away ..so no need to transfer. Most likely will open a IBKR SG account and start my US Stocks journey there fresh.

So my plan is to

SGX Stocks--> FSMone
USD Stocks--> IBKR SG

Practical ?

They never charge me min commission with priority status lei. It is very cheap but the cheapest is actually HSBC in terms of banking. The difference between banks and digital brokers is always the transparency. For example why DBS is more expensive and charge custodian fees is because they using bank of New York to be their custodian. I believe SC, HSBC and other big banks likely use bigger US banks. Those tiger, Moomoo no idea. IBKR is very good. FSMone is not bad for local stocks.

So far I use IBKR for trading and FSMone for DCA. One of my good friend claimed IBKR has a min/ handling fees during conversion of SGD to USD although the rates is better. I didn’t realised got this issue.

 

[radioshack]

They never charge me min commission with priority status lei. It is very cheap but the cheapest is actually HSBC in terms of banking. The difference between banks and digital brokers is always the transparency. For example why DBS is more expensive and charge custodian fees is because they using bank of New York to be their custodian. I believe SC, HSBC and other big banks likely use bigger US banks. Those tiger, Moomoo no idea. IBKR is very good. FSMone is not bad for local stocks.

So far I use IBKR for trading and FSMone for DCA. One of my good friend claimed IBKR has a min/ handling fees during conversion of SGD to USD although the rates is better. I didn’t realised got this issue.

I prefer a simple fee schedule. Brokers like FSMone and SCB are easier.

FSMone -Flat Rate of 8.80. All SGX related charges are inclusive.

SCB- 0.2% Comm fee of trade amount. Exclusive of SGX related charges. Min Comm $10.

Moomoo and Tiger though cheap but somehow I dun like the vibe of them . They have platform fees .. although still cheaper than the above 2 but I still dun like the vibe of them.

 

[highsulphur]

I prefer a simple fee schedule. Brokers like FSMone and SCB are easier.

FSMone -Flat Rate of 8.80. All SGX related charges are inclusive.

SCB- 0.2% Comm fee of trade amount. Exclusive of SGX related charges. Min Comm $10.

Moomoo and Tiger though cheap but somehow I dun like the vibe of them . They have platform fees .. although still cheaper than the above 2 but I still dun like the vibe of them.

FSMOne 8.80 does not include sgx clearing and other charges

 

[radioshack]

FSMOne 8.80 does not include sgx clearing and other charges

Oh .. thanks for clarifying! Their phrasing makes it sounds like its inclusive.

Then like that SCB and FSMone not much diff ?

Their rates almost similar if trade below 5k?

 

[highsulphur]

Oh .. thanks for clarifying! Their phrasing makes it sounds like its inclusive.

Then like that SCB and FSMone not much diff ?

Their rates almost similar if trade below 5k?

FSMOne reduced fees for etf to 3.80

For larger notional, fsmone makes sense

 

[elvintay07]

I prefer a simple fee schedule. Brokers like FSMone and SCB are easier.

FSMone -Flat Rate of 8.80. All SGX related charges are inclusive.

SCB- 0.2% Comm fee of trade amount. Exclusive of SGX related charges. Min Comm $10.

Moomoo and Tiger though cheap but somehow I dun like the vibe of them . They have platform fees .. although still cheaper than the above 2 but I still dun like the vibe of them.

I presume your AUM didn’t hit $200k. Else your charges will be lower with no commission charges. Perhaps can slowly build the AUM. I recall I started with just $20k but grew significantly over the years.

 

[highsulphur]

I presume your AUM didn’t hit $200k. Else your charges will be lower with no commission charges. Perhaps can slowly build the AUM. I recall I started with just $20k but grew significantly over the years.

No commission for priority banking client?

 

[radioshack]

I presume your AUM didn’t hit $200k. Else your charges will be lower with no commission charges. Perhaps can slowly build the AUM. I recall I started with just $20k but grew significantly over the years.

Does the AUM include the market value of your equities held with SCB?

 

[highsulphur]

Does the AUM include the market value of your equities held with SCB?

Yes include

 

[elvintay07]

For priority

(1) 0.18% for SGX
(2) 0.2% for The rest

No min commission. It is good for ppl who purchase small small. If you purchase 1 shot $10,000 then the fees is like $18 (0.18%)

 

[highsulphur]

For priority

(1) 0.18% for SGX
(2) 0.2% for The rest

No min commission. It is good for ppl who purchase small small. If you purchase 1 shot $10,000 then the fees is like $18 (0.18%)

So any non etf sgx trade above 4888, use fsmone instead of scb
Any ETF trade on sgx above 2111, use fsmone

 

[radioshack]

Standard Chartered SGX Transfer Fees

• SGD 10 per stock: Transferring Singaporean stocks to CDP (The Central Depository).
• SGD 100 per stock: Transferring Singaporean stocks to other brokerages or financial institutions

 

[elvintay07]

So any non etf sgx trade above 4888, use fsmone instead of scb
Any ETF trade on sgx above 2111, use fsmone

To be honest, the big whale usually don’t care about small money one. If you can buy $20-30k per pop, you will be more busy managing portfolio then cutting cost. Those on tiger, moo moo likely all buying small one

 

[highsulphur]

To be honest, the big whale usually don’t care about small money one. If you can buy $20-30k per pop, you will be more busy managing portfolio then cutting cost. Those on tiger, moo moo likely all buying small one

It matters when you are buy/sell larger amount to rebalance

200k etf position difference is $360 vs $3.80 of commission

 

[weng0202]

Standard Chartered SGX Transfer Fees

• SGD 10 per stock: Transferring Singaporean stocks to CDP (The Central Depository).
• SGD 100 per stock: Transferring Singaporean stocks to other brokerages or financial institutions

$10 for sg stocks quite cheap lah. Maybe next time transfer all my reits from SCB to CDP when I retire lol

 

[highsulphur]

Standard Chartered SGX Transfer Fees

• SGD 10 per stock: Transferring Singaporean stocks to CDP (The Central Depository).
• SGD 100 per stock: Transferring Singaporean stocks to other brokerages or financial institutions

Transfer to fsmone also is 10+