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

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Old 31-12-2014, 02:43 PM   #2776
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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
Beware of the CAR/CKR (???), they may not allow you from opening if they think you're not suitable for this product

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?
Not much advantages except cheaper comms across all markets, including NYSE/NASDAQ. So for those who can take the risk, it's probably better to use StanChart for buying shares in overseas exchanges.
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Old 31-12-2014, 02:48 PM   #2777
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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?
Cash in advance. A little troublesome, and definitely not suitable for retail investors who require fast transactions, contra, or day-trade. Better for longists, dividend play

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.....
Doubtful. Their rate is already so low, if they didn't change the rate for so long, means they can afford this.

However, the 100-lot requirement may be a boon for them, as the other brokerages haven't adjusted their minimum comms (at this time of writing)...hehe
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Old 31-12-2014, 02:50 PM   #2778
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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.
Hmmmm, do I need to go down to SGX personally to create CDP account? if yes, do they open on Sat?

Beware of the CAR/CKR (???), they may not allow you from opening if they think you're not suitable for this product.
What do they based on?
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Old 31-12-2014, 02:55 PM   #2779
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Hmmmm, do I need to go down to SGX personally to create CDP account? if yes, do they open on Sat?



What do they based on?
Go down to SGX: No need, if u sign up at any of the brokerage firms (Maybank-KE, DBSV, POEMS, etc.) they will do for you. For custodians like StanChart, can ask but I don't think they will process for you.

CAR/CKR: Basically about how long you've been trading, have u traded in other investment products like unit trusts, futures, options, etc. If you have some experience in unit trusts, then I think they're alright; I brought a friend (just started working, little savings, zero investment knowledge) to open an account a while ago, but after doing the CAR/CKR the bank didn't allow him to open one. Oh well. Just apply lor, no harm.
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Old 31-12-2014, 03:42 PM   #2780
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Go down to SGX: No need, if u sign up at any of the brokerage firms (Maybank-KE, DBSV, POEMS, etc.) they will do for you. For custodians like StanChart, can ask but I don't think they will process for you.

CAR/CKR: Basically about how long you've been trading, have u traded in other investment products like unit trusts, futures, options, etc. If you have some experience in unit trusts, then I think they're alright; I brought a friend (just started working, little savings, zero investment knowledge) to open an account a while ago, but after doing the CAR/CKR the bank didn't allow him to open one. Oh well. Just apply lor, no harm.
Oh ok! Thanks!

I saw DBSV, their min commission rate is SGD25! that is high right?
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Old 31-12-2014, 03:48 PM   #2781
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Oh ok! Thanks!

I saw DBSV, their min commission rate is SGD25! that is high right?
Yes it's that high. Like the previous example that I have given, at $20/lot, you would have to pay $25 instead of just paying 4 cents if you're buying 1 lot.
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Old 31-12-2014, 03:52 PM   #2782
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Anyone can find Keppel DC REIT inside ?
Anyone ?

Tried searching AJBU came up nothing.
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Old 31-12-2014, 03:59 PM   #2783
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hello all, if my answer for CAR is all "no", that means sure cannot be approved for online trading?

If so, is there anyway(other than me going to fufil one of the 4 questions asked) to get approval?
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Old 31-12-2014, 04:16 PM   #2784
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hello all, if my answer for CAR is all "no", that means sure cannot be approved for online trading?

If so, is there anyway(other than me going to fufil one of the 4 questions asked) to get approval?
Me too! I saw the CAR portion, all no sia... I guess I should do some investment first before signing up for SCB
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Old 31-12-2014, 04:25 PM   #2785
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hello all, if my answer for CAR is all "no", that means sure cannot be approved for online trading?

If so, is there anyway(other than me going to fufil one of the 4 questions asked) to get approval?
Go down to the branch and ask them to open for u lor. If cannot then change person handling until they're willing?
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Old 31-12-2014, 04:32 PM   #2786
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Go down to the branch and ask them to open for u lor. If cannot then change person handling until they're willing?
lol... ok shall try this method. thanks.
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Old 31-12-2014, 04:34 PM   #2787
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Anyone ?

Tried searching AJBU came up nothing.
No have also...maybe can bug them about it?
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Old 31-12-2014, 04:41 PM   #2788
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Me too! I saw the CAR portion, all no sia... I guess I should do some investment first before signing up for SCB
Don't be discouraged I forgot to mention, currently Maybank-KimEng have this 3 free trades promo ..think its for them to overcome the customer "bleed" to SC? Hehe. The free trade promo is commission rebate, though, and will be returned the next month, like credit card rebate.

More info: http://www.maybank-ke.com.sg/latest_...s_Westgate.htm

Last edited by Asphodeli; 31-12-2014 at 08:41 PM.. Reason: Wrong link
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Old 31-12-2014, 04:43 PM   #2789
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lol... ok shall try this method. thanks.
Hahaha. Good luck!
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Old 31-12-2014, 08:19 PM   #2790
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Don't be discouraged I forgot to mention, currently Maybank-KimEng have this 3 free trades promo ..think its for them to overcome the customer "bleed" to SC? Hehe. The free trade promo is commission rebate, though, and will be returned the next month, like credit card rebate.

More info: Maybank Kim Eng - 3 Free Index or Equity Trades Promotion
It's cfd leh and its an unlisted specific product, so how many of you (who can't pass car) can actually open a cfd acct with Kimeng?
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