[Nightmare_Angel]

2 qns i have in mind and i hope the bros here can help me with it:

1) I need to have $$$ in my SCB Settlement Account before i can trade? Can't i place a buy order and if it's successful, then i transfer the $$$ from my Xtra Saver Account to my Settlement Account within T+3?

2) How do i transfer shares from my CDP account (got it from IPO) to my SCB account?


Thank you.

[Nightmare_Angel]

bardsmanship wrote:

I just applied for an online trading account yesterday, but it's not reflected when I log in to my SCB account... how long does it take for the application to be processed?

Don't wanna miss any buying opportunities next week (:

It will probably take around a week. They will inform you by mail.

[MikeDirnt78]

Nightmare_Angel wrote:

2 qns i have in mind and i hope the bros here can help me with it:

1) I need to have $$$ in my SCB Settlement Account before i can trade? Can't i place a buy order and if it's successful, then i transfer the $$$ from my Xtra Saver Account to my Settlement Account within T+3?

2) How do i transfer shares from my CDP account (got it from IPO) to my SCB account?


Thank you.

1) you need to have $$$ in your SA. after buy order filled, someone managed to transfer the $$$ out when the platform just started. but why would you want to do that? make sure you are not slapped with OD charges.

2) download 2 forms. the CDP one is from CDP website. the following link is the form for SCB. fill up and go down to battery road.

http://www.mediafire.com/download.php?lddwhzyj74ephgh

[MikeDirnt78]

before doing the transfer, ensure that you know the shortcomings of the platform.

if you trade in small amount and you are just interested with low fees, then go ahead.

[Panerex]

MikeDirnt78 wrote:

if you dont hold shares in SCB, you cannot sell. the system wouldnt allow you to sell.

SCB platform came in at the very best time when market is bleeding. My advice to all is to buy in small quantities and spread your purchases. You dont have to worry about minimum commission.

if i buy and pay today, after how many working days would SCB credit the shares into my SCB securities acc?

[chopra]

MikeDirnt78 wrote:

before doing the transfer, ensure that you know the shortcomings of the platform.

if you trade in small amount and you are just interested with low fees, then go ahead.

Transferring to SCB is definitely a cost-saving approach, unless your selling contract worth is around $9000 to $13333.

Detailed calculations are mentioned in http://forums.hardwarezone.com.sg/sh...&postcount=209

[MikeDirnt78]

chopra wrote:

Transferring to SCB is definitely a cost-saving approach, unless your selling contract worth is around $9000 to $13333.

Detailed calculations are mentioned in http://forums.hardwarezone.com.sg/sh...&postcount=209

can ignore the transfer fees. i have done a few transfers

Panerex wrote:

if i buy and pay today, after how many working days would SCB credit the shares into my SCB securities acc?

standard settlement period applies.

[Panerex]

MikeDirnt78 wrote:

can ignore the transfer fees. i have done a few transfers



standard settlement period applies.

wow which means it may be a few business days later before i can start to sell the same counter i bought today?

[MikeDirnt78]

Panerex wrote:

wow which means it may be a few business days later before i can start to sell the same counter i bought today?

didnt you read my posts? you can sell anytime because you have paid for your shares.

[chopra]

MikeDirnt78 wrote:

can ignore the transfer fees. i have done a few transfers

Ya, I'm just sharing the theoretical approach that it's worth transferring if the selling contract is not within $9000 to $13333.

That said, even if i were to sell a contract worth between $9000-$13333 at SCB, the difference compared to selling it at say, Phillip Securities, would be very small. Example:

Selling a contract worth $10000 at SCB = $20 + $10 (transfer)
Selling a contract worth $10000 at Phillip @ 0.275% = $27.5



So bottomline is like what you said, just transfer everything over to SCB. Let SCB earn more also good...it will make this system sustainable.

[MikeDirnt78]

chopra im sure you have not done any transfers. there is no transfer fees FYI. dont ask me why.

[Sinkie]

MikeDirnt78 wrote:

chopra im sure you have not done any trasnfers. there is no transfer fees FYI. dont ask me why.

wah, you are valued client of scb that they absorb your transfer fee??

i checked with cdp, they will charge $10.8 to scb, but how scb charge client is different

[chopra]

MikeDirnt78 wrote:

chopra im sure you have not done any transfers. there is no transfer fees FYI. dont ask me why.

you are right, i haven!! Then i must do it asap. thanks thanks.

[chopra]

Sinkie wrote:

wah, you are valued client of scb that they absorb your transfer fee??

i checked with cdp, they will charge $10.8 to scb, but how scb charge client is different

Usually the receiving brokerage will not charge money. Only delivering side will charge, in this case, CDP. I will call SCB to double check on this.

[Sinkie]

chopra wrote:

you are right, i haven!! Then i must do it asap. thanks thanks.

U better call scb n ask cos someone told me it's $10 per 1000 shares per counter cap at $100 each, this amount will be deducted from scb saving account and forms are only available from scb branch

Better check first cos Cdp is say $10 per counter but scb say another things

There is definately charges