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

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Old 30-12-2014, 05:39 PM   #2761
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For SC online trading, do we buy shares and then transfer money to the settlement account by the settlement date or do we need to have money in advance?
You must have enough funds in the settlement account first then you can buy.
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Old 30-12-2014, 06:04 PM   #2762
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Just open up this account, btw how do i fund it?? Can i transfer the money from my esaver to the settlement account? Will it convert from sgd to usd automatically ?? What the conversion rate like for scb from sgd to usd??
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Old 30-12-2014, 10:31 PM   #2763
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For SC online trading, do we buy shares and then transfer money to the settlement account by the settlement date or do we need to have money in advance?
Money in advance. if there is no money inside the settlement account the order gets rejected.

more info, not sure if you're interested:

If say you are looking at stock A - 1600 (not filled, still in queue), and you got 2000 inside settlement account you can't buy another stock which is 500 (if you wanna queue this as well and see which gets filled first).

Just open up this account, btw how do i fund it?? Can i transfer the money from my esaver to the settlement account? Will it convert from sgd to usd automatically ?? What the conversion rate like for scb from sgd to usd??
transfer from esaver to settlement acc (SGD) or FCY settlement acc (mine default is in USD). Transfer during working hours to trade (fastest) by evening time that same day.

conversion rates not good from what i heard, have to check with them.
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Old 30-12-2014, 11:02 PM   #2764
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The SG - GBP conversion is not so bad.

Today, internet states S$2.04 can buy 1GBP
SCB conversion rate is S$2.08 to buy 1GBP.
(i rounded off the 3rd digit as i can't remember what it was...)

So for GBP their forex rate is about 2% above the internet interbank rate.

Compared to credit card where they change GBP into US$ then change it to S$ then charge you 5% extra....

I know SCB hasn't said anything yet, but after SGX changes lot size to 100, will there be people doing trades with 10 cent, 20 cent commission or something like that? This might cause SCB to set some sort of minimum commission.....
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Old 30-12-2014, 11:50 PM   #2765
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The SG - GBP conversion is not so bad.

Today, internet states S$2.04 can buy 1GBP
SCB conversion rate is S$2.08 to buy 1GBP.
(i rounded off the 3rd digit as i can't remember what it was...)

So for GBP their forex rate is about 2% above the internet interbank rate.

Compared to credit card where they change GBP into US$ then change it to S$ then charge you 5% extra....

I know SCB hasn't said anything yet, but after SGX changes lot size to 100, will there be people doing trades with 10 cent, 20 cent commission or something like that? This might cause SCB to set some sort of minimum commission.....
already done that, I started SC Trading account with 100 shares of G3B - Nikko STI ETF...The total commission was like less than a dollar

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Old 31-12-2014, 01:00 PM   #2766
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Anyone can find Keppel DC REIT inside ?
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Old 31-12-2014, 01:31 PM   #2767
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If I am new to trading, can I straight away go to SCB to apply for all the necessary account for trading? (no trading account also)
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Old 31-12-2014, 01:37 PM   #2768
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If I am new to trading, can I straight away go to SCB to apply for all the necessary account for trading? (no trading account also)
as long as you are an adult, then there's nothing stopping u
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Old 31-12-2014, 01:54 PM   #2769
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as long as you are an adult, then there's nothing stopping u
hahaha yup tats true, but I concern about whether is there a need to go down to SGX to open a CDP account first before heading to SCB
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Old 31-12-2014, 01:56 PM   #2770
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hahaha yup tats true, but I concern about whether is there a need to go down to SGX to open a CDP account first before heading to SCB
SCB does not use CDP as custodian account.
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Old 31-12-2014, 01:57 PM   #2771
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any difference between this and dbsv?

started this stocks thingy recently and bought a few lots here and there on dbsv.

other than no min. commission still got what other benefits huh?
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Old 31-12-2014, 02:34 PM   #2772
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SCB does not use CDP as custodian account.
Which means that I can do down to SCB to open an account immediately? And wait for a few weeks for them to process? Thats convenient
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Old 31-12-2014, 02:36 PM   #2773
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hahaha yup tats true, but I concern about whether is there a need to go down to SGX to open a CDP account first before heading to SCB
Don't need as the shares are held under their own custodian accounts. But I went to create an account at CDP in case that I might need to transfer over next time or when I need to use other brokerages, I can just create account at the brokerage and start trading.
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Old 31-12-2014, 02:37 PM   #2774
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Which means that I can do down to SCB to open an account immediately? And wait for a few weeks for them to process? Thats convenient
Yes, but the downside will be that you can only trade using their account and nothing else. Unless you transfer your shares to be held under CDP and use other brokerage accounts to trade.
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Old 31-12-2014, 02:38 PM   #2775
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any difference between this and dbsv?

started this stocks thingy recently and bought a few lots here and there on dbsv.

other than no min. commission still got what other benefits huh?
The main thing is that there is no minimum commission no matter what you buy. You can get some shares at $20/lot and pay only the commission needed.
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