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

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Old 27-08-2011, 10:43 AM   #241
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Took 15-20 days to get my trading acct live, so be prepared to wait hor
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Old 28-08-2011, 03:32 PM   #242
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Applied today!!

Have credit card acc previously, applied for internet account as well.

Efficient. eSaver was opened and activated immediately once I put in $1000 in the branch.

Went home and applied settlement acc online. Shall wait for 3-4 days.

Haha.
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Old 28-08-2011, 04:04 PM   #243
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The W8 Ben form

About the Claim of tax treaty benefits , how do i fill in those ?
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Old 28-08-2011, 05:47 PM   #244
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Before opening the online trading account?

Do I have to opening a saving account with SCB for the purpose of funding? What are the different accounts?




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Last edited by strangerjun; 28-08-2011 at 05:50 PM..
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Old 28-08-2011, 05:56 PM   #245
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Before opening the online trading account?

Do I have to opening a saving account with SCB for the purpose of funding? What are the different accounts?




You need to have at least a esaver acct, the rest will will fall into place once the acct is open and you can apply the online trading. fund transfer from other bank have to be set up if you need to.
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Old 28-08-2011, 06:56 PM   #246
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The W8 Ben form

About the Claim of tax treaty benefits , how do i fill in those ?
Does this form allowed us not to be taxed at 30% for capital gains arising from trading in the US market?
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Old 28-08-2011, 07:54 PM   #247
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Transfer of existing shares from CDP to SCB

I had confirmed with CDP and SCB on this matter.

1. The transfer is $10.70 per counter regardless of the number of shares per counter. This will be charged by CDP. There is NO charge by SCB.

2. The billing however, comes from SCB. That is, CDP will charge it to SCB, which in turn will deduct from your SCB account.

3. Print out both forms (CDP and SCB) below and go to any SCB branch. The bank officer there will assist with the paperwork of both forms.

CDP FORM:
http://www.sgx.com/wps/wcm/connect/3...df?MOD=AJPERES

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



Why should we transfer existing shares to SCB?
  • SCB is attractive to both small and big timers. For small timers, you can benefit from the no minimum commission part. Cost-averaging will be cheap. For big timers, see illustration point #2 below.
  • The commission savings using SCB will offset the stock transfer cost from CDP to SCB, this is provided if your selling contract value is <$7150 or >$13375. I will not show how I get the numbers here*.

For illustration purpose,
1. If your selling contract value is $5000, the commissions incurred by other brokerages and SCB will be $25 and $10 respectively. After offsetting the transfer fees, you get to save a few dollars.

2. If your selling contract value is $50000, the commissions incurred by other brokerages and SCB will be $140 and $100 respectively. After offsetting the transfer fees, you get to save quite a fair bit.

*Assumption: Other brokerages charge at 0.28% with a minimum charge of $25. To simplify problem, the calculation does not include clearing fees.
The charges for other brokerage is not same throughout.

If base on $50000, the comm charge will be base on 0.22% already, so doesn't mean the higher the contract value, the more you save.

Any contract value above $100k, the comm is 0.18%
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Old 28-08-2011, 08:09 PM   #248
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You need to have at least a esaver acct, the rest will will fall into place once the acct is open and you can apply the online trading. fund transfer from other bank have to be set up if you need to.
apart from esaver account? what else are there?

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Old 28-08-2011, 08:14 PM   #249
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apart from esaver account? what else are there?


There are many type of accounts, you just need one and have internet banking in order to apply for online trading. Once you apply, they will set up the securities trading account for you to transfer funds in, then you can trade liao.

Check out their website to see which account type suits you.
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Old 29-08-2011, 08:44 AM   #250
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The charges for other brokerage is not same throughout.

If base on $50000, the comm charge will be base on 0.22% already, so doesn't mean the higher the contract value, the more you save.

Any contract value above $100k, the comm is 0.18%
That's why I highlighted my assumption.

Anyway, thanks for pointing out. You can work out the sums from there.
And I believe the main attraction is still no mimimum commission. It's a no-brainer switch.
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Old 29-08-2011, 09:37 AM   #251
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It's faster if you have an existing Esaver account. My trading account took 3 days to activate via online application. No signature required.

No fuss at all.
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Old 29-08-2011, 09:44 AM   #252
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I have a qns, if the SCB website is buggy and I urgently have to make some transactions. Can I call up SCB and is there a broker to do it?
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Old 29-08-2011, 10:00 AM   #253
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I have a qns, if the SCB website is buggy and I urgently have to make some transactions. Can I call up SCB and is there a broker to do it?
There is a fee & services tab on the left of your trading page. There is a FAQ over there. But no specific mention of a broker to do the trade for you. Just say speak to your Relationship Manager.
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Old 29-08-2011, 10:06 AM   #254
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There is a fee & services tab on the left of your trading page. There is a FAQ over there. But no specific mention of a broker to do the trade for you. Just say speak to your Relationship Manager.
Oh i think i missed that. Will check it out thanks!
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Old 30-08-2011, 08:48 PM   #255
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Anybody noticed the chart in the SCB's trading account looks inaccurate? Or is it my settings wrong?


Uploaded with ImageShack.us

Late July the stock was 14+-.. It doesnt look like exchange rate prob since 14/1.22 would be in $11.6+-.
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