*OFFICIAL* Standard Chartered Bank Online Equities Trading

limster

Arch-Supremacy Member
Joined
Oct 31, 2000
Messages
11,423
Reaction score
2,432
as I have mentioned earlier in this thread (probably many pages ago), I am a satisfied user of IBKR, SCB and FSMOne. I have >$200k in SCB (should be achievable to most investors) so I have no min commissions. I am a long term investor so the simple SCB interface is good enough for me... all I need is a place to enter quantity and price of what I want to buy.

I find the SCB US$ High Account and Debit card to be useful - it gives me a way to spend the US$ my account generates. Furthermore, there is 2% cashback. As I have also mentioned earlier, I have sucessfully transferred US$ from FSMOne to SCB without any charges. This allows me to spend the US$ my FSMOne account generates (via the US$ debit card) without incurring forex charges.

Other perks like priority pass probably not so relevant due to Covid =:p
 

crystalnox

Supremacy Member
Joined
Feb 2, 2006
Messages
7,890
Reaction score
1,673
as I have mentioned earlier in this thread (probably many pages ago), I am a satisfied user of IBKR, SCB and FSMOne. I have >$200k in SCB (should be achievable to most investors) so I have no min commissions. I am a long term investor so the simple SCB interface is good enough for me... all I need is a place to enter quantity and price of what I want to buy.

I find the SCB US$ High Account and Debit card to be useful - it gives me a way to spend the US$ my account generates. Furthermore, there is 2% cashback. As I have also mentioned earlier, I have sucessfully transferred US$ from FSMOne to SCB without any charges. This allows me to spend the US$ my FSMOne account generates (via the US$ debit card) without incurring forex charges.

Other perks like priority pass probably not so relevant due to Covid =:p
Sounds like you don't even need IBKR?
 

wutawa

Supremacy Member
Joined
Jan 25, 2003
Messages
7,895
Reaction score
1,423
I am quite used to the stupid delayed price restriction when placing order, and the additional locked money for lse etf. But i am annoyed by the increase of non-official corporate action sms/email recently.
 

NeverTooLate

Senior Member
Joined
Oct 2, 2014
Messages
801
Reaction score
121
Hi Everyone, have been reading up on this thread and would like start on investing in VWRD using SCB for Global exposure.

But for those whom are using SCB to do so, is it we must open an USD Settlement account to do so? I tried to open this account online, but seems like no such option; have to do physically at branch. Is that right?
 

limster

Arch-Supremacy Member
Joined
Oct 31, 2000
Messages
11,423
Reaction score
2,432
Sounds like you don't even need IBKR?
yes, its more for diversification of custodians.

However, IBKR has benefits that SCB doesn't have. IBKR is a cheap and easy way to fund my UK bank account as I travel/travelled to UK pretty often.

And just for info my IBKR account and UK bank account names don't match perfectly - the usual Tan Ah Kow and Ah Kow Tan problem, but no problem transferring.
 

elvintay07

Supremacy Member
Joined
Jan 4, 2022
Messages
7,371
Reaction score
2,589
hi everyone
Is it possible to transfer US$ from DBS multi currency account into standard chartered online trading account USD (account number usually starts with FCYxxxxx). Or need to open a standard chartered US account? Thanks everyone! Wishing everyone a happy new year in advance! Huat big big 2022!
 

wutawa

Supremacy Member
Joined
Jan 25, 2003
Messages
7,895
Reaction score
1,423
hi everyone
Is it possible to transfer US$ from DBS multi currency account into standard chartered online trading account USD (account number usually starts with FCYxxxxx). Or need to open a standard chartered US account? Thanks everyone! Wishing everyone a happy new year in advance! Huat big big 2022!
Scb accounts are all solely numbers. Scb trading acct can only hold equities, not money. Settlement accts will hold the money for trading. I have bonussaver usd acct to receive usd. Unfortunately, tt fees will be incurred. i read usd cheque is a better way to transfer.
 

elvintay07

Supremacy Member
Joined
Jan 4, 2022
Messages
7,371
Reaction score
2,589
Scb accounts are all solely numbers. Scb trading acct can only hold equities, not money. Settlement accts will hold the money for trading. I have bonussaver usd acct to receive usd. Unfortunately, tt fees will be incurred. i read usd cheque is a better way to transfer.
Local to local also will incurred TT ah? Interesting
 

kkcheng77

Senior Member
Joined
Oct 4, 2001
Messages
768
Reaction score
158
How much is TT Fee? I have some USD from Fidelity US account (ESPP) . Want to transfer to SCB to buy VWRA also in USD.
 

elvintay07

Supremacy Member
Joined
Jan 4, 2022
Messages
7,371
Reaction score
2,589
Hi everyone, I was upgrade to priority banking but I saw that the trading commission still have min commission. I thought priority member has no min commission for standard chartered trading account?
 

hwckhs

Senior Member
Joined
Apr 13, 2012
Messages
1,071
Reaction score
935
Hi everyone, I was upgrade to priority banking but I saw that the trading commission still have min commission. I thought priority member has no min commission for standard chartered trading account?
When were you upgraded? Do you see "priority" logo at the top right corner when you login to SC internet banking? If yes, there should be no minimum commission.
 

lancer6238

Member
Joined
Nov 13, 2006
Messages
210
Reaction score
3
Hi everyone, I was upgrade to priority banking but I saw that the trading commission still have min commission. I thought priority member has no min commission for standard chartered trading account?
It took about 2 weeks after I got the email for the min comms to be zero, so have to wait a while.
 

VanquishShadow

Supremacy Member
Joined
Sep 9, 2002
Messages
9,429
Reaction score
31
as I have mentioned earlier in this thread (probably many pages ago), I am a satisfied user of IBKR, SCB and FSMOne. I have >$200k in SCB (should be achievable to most investors) so I have no min commissions. I am a long term investor so the simple SCB interface is good enough for me... all I need is a place to enter quantity and price of what I want to buy.

I find the SCB US$ High Account and Debit card to be useful - it gives me a way to spend the US$ my account generates. Furthermore, there is 2% cashback. As I have also mentioned earlier, I have sucessfully transferred US$ from FSMOne to SCB without any charges. This allows me to spend the US$ my FSMOne account generates (via the US$ debit card) without incurring forex charges.

Other perks like priority pass probably not so relevant due to Covid =:p

I started with SCB online trading quite long ago, before they upgraded to the current online trading app. Even though the current version is less clunky than the previous one, I still personally find it quite hard to use. Two examples:
- the portfolio holdings are listed in a 'double-format' row (i.e. each row is broken into two sub-rows) which is really hard to read. This can be mitigated by turning my phone landscape.
- I couldn't find a way to generate a report that shows my returns YTD, including dividends paid out. I end up having to manually track this using Google Sheets which is tedious.

When I compare this with IBKR, I realise that IBKR, both app and web platform, is more full-featured and offers a lot of useful functions that I wouldn't know I could benefit from if I just stuck to SCB. So eventually planning to transition all my holdings into IBKR SG, with the additional benefit of lower fees too - without even having to worry about achieving and retaining priority banking status.
 

zmallwood

Member
Joined
Apr 12, 2009
Messages
398
Reaction score
7
Having an issue with SC Trading, placed limit order above current market price for both ETF and Stock but is not able to fill, I thought there was not enough liquidity, so I just tried raising my order by $1, and still can’t fill.

Anyone knows what’s wrong?
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top