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

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Old 04-10-2013, 05:34 PM   #1771
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The big problem is their platform fails during critical times. And cannot sell via other brokerage once trf out of Cdp.
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Old 05-10-2013, 12:43 AM   #1772
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application took about a week +
Yeap I got it! It was successful. I start investing soon!!!
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Old 05-10-2013, 04:19 AM   #1773
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The big problem is their platform fails during critical times. And cannot sell via other brokerage once trf out of Cdp.
Could you elaborate a bit more on this. I thought the shares are held by SCB? These can be transferred from SCB to CDP and then sold through other brokerages, no?
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Old 05-10-2013, 10:41 AM   #1774
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The big problem is their platform fails during critical times. And cannot sell via other brokerage once trf out of Cdp.
how often it fail?
can you give your experiece?
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Old 05-10-2013, 01:19 PM   #1775
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There is new promotion.

0% brokerage fees on buy trades for three years if you can maintain 100k in your Securities Settlement Account.
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Old 05-10-2013, 02:16 PM   #1776
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There is new promotion.

0% brokerage fees on buy trades for three years if you can maintain 100k in your Securities Settlement Account.
wah, quite good sia, but wat the commission for the sell trades?
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Old 05-10-2013, 03:59 PM   #1777
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There is new promotion.

0% brokerage fees on buy trades for three years if you can maintain 100k in your Securities Settlement Account.
Seems like the promotion penalises existing customers. The promotion requires a deposit of 100k SGD FRESH fund into SCB securities account before end of Dec 2013. It will be hard for existing customers to deploy 100k (unless they are high net worth) as compared to new customers.
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Old 05-10-2013, 05:41 PM   #1778
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Could you elaborate a bit more on this. I thought the shares are held by SCB? These can be transferred from SCB to CDP and then sold through other brokerages, no?
how often it fail?
can you give your experiece?
You can. But a transfer out may take up to several days. Market crashes can be over in only a few hours.

I do not know the frequency of failures but a little too common for such a critical service. Just read back, other users described their encounters too. The only back up is to call in for a broker trade and that does not seem reliable too. Especially during a crash when hordes are calling in.

But i believe(hope) it should only get better given how established SCB is. Their online banking system is fantastic.
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Old 05-10-2013, 05:51 PM   #1779
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There is new promotion.

0% brokerage fees on buy trades for three years if you can maintain 100k in your Securities Settlement Account.
Can provide a link? Can't find it.
edit. found it

http://priority.standardchartered.co...ing/index.html

What if someone transfers out his funds, wait a few days & transfers back. I don't know how much it cost to transfer out to CDP, probably minimal. And then transfer back which SCB will absorb the cost anyway. It's a bit silly but doesn't seem to breach the rules.

Last edited by Yowzer; 05-10-2013 at 06:11 PM..
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Old 05-10-2013, 06:46 PM   #1780
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Seems like the promotion penalises existing customers. The promotion requires a deposit of 100k SGD FRESH fund into SCB securities account before end of Dec 2013. It will be hard for existing customers to deploy 100k (unless they are high net worth) as compared to new customers.
a lot of banks do this. whatever promotion, even simple things like fixed deposits, it only applies to fresh funds.

ie. they want u to move ur funds frm other banks to them lor.
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Old 05-10-2013, 07:44 PM   #1781
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The big problem is their platform fails during critical times. And cannot sell via other brokerage once trf out of Cdp.
the failure could be a blessing in disguise. if you are not allowed to trade, its good to take a step back, to rethink your action and not to panic just like the market. as an investor, this is the kind of trait that you should have. if you are a trader, then you probably pick the wrong platform. you have to factor such risks in your plan as SCB trading platform is still in its infancy stage.
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Old 05-10-2013, 08:11 PM   #1782
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wah, quite good sia, but wat the commission for the sell trades?
Sell commission is 0.2%. For Buy commission, they will charge you first.. then reimburse every quarter if you meet the criteria of maintaining 100k in your security account.
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Old 05-10-2013, 08:57 PM   #1783
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Sell commission is 0.2%. For Buy commission, they will charge you first.. then reimburse every quarter if you meet the criteria of maintaining 100k in your security account.
The sell commission of 0.2% is permanent or promotion period? becoz my current broker charge me 0.25%.
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Old 05-10-2013, 09:30 PM   #1784
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The sell commission of 0.2% is permanent or promotion period? becoz my current broker charge me 0.25%.
My broker charge me 0.12% but i need to put $ deposit as collateral.
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Old 05-10-2013, 09:32 PM   #1785
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My broker charge me 0.12% but i need to put $ deposit as collateral.
0.12% got monthly quota?
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