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

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Old 09-01-2015, 11:19 AM   #3001
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yesterday, I sold off all the green counters I have in SCB, just holding 3 more counters now that are in the red.
Will use this platform and find another place where I can park it. a bit sian though. thinking of having to pay custody fees, cause I mainly only buy ETFs, gold and silver etfs
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Old 09-01-2015, 11:27 AM   #3002
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to be safe, i have even transfer $ out of scb for now. You never know if the bank will run road, ask for bail out. Their business aint doing good.
your deposit is insured up to 50k by the govt...
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Old 09-01-2015, 11:34 AM   #3003
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The day we should be worried about scb is when ho Ching sell her 18% stake to other buyers, etc.. China banks.

As long as Temasek is in scb, it will be okay
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Old 09-01-2015, 11:41 AM   #3004
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The day we should be worried about scb is when ho Ching sell her 18% stake to other buyers, etc.. China banks.

As long as Temasek is in scb, it will be okay
Yesterday sold all my counters at nett gain anyway. In 3 days I will receive my balance and will transfer all out to other banks.

Will trade with scb again once this fiasco is over.

U can say i over reacting but if a bank in trouble they are usually the first to say everything is all right but behind the scenes leave u to die first. Happen so many times before liao.
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Old 09-01-2015, 11:43 AM   #3005
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How is the transfer fees out from SCb custody ton Cdp?
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Old 09-01-2015, 11:48 AM   #3006
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wah liao, now they using template replies on facebook to answer queries posted on their fan page le
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Old 09-01-2015, 11:58 AM   #3007
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to be safe, i have even transfer $ out of scb for now. You never know if the bank will run road, ask for bail out. Their business aint doing good.

for now i will just keep whatever shares i have with them.
They aren't even anywhere close to making losses yet. Still quite profitable internationally (just less so than before, when profit growth was strong). And they are doing pretty well in Singapore.
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Old 09-01-2015, 12:25 PM   #3008
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Me go kovan hawker center eat lunch, see acb set up roadshow for their credit card wor
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Old 09-01-2015, 12:26 PM   #3009
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Yesterday sold all my counters at nett gain anyway. In 3 days I will receive my balance and will transfer all out to other banks.

Will trade with scb again once this fiasco is over.

U can say i over reacting but if a bank in trouble they are usually the first to say everything is all right but behind the scenes leave u to die first. Happen so many times before liao.
ya wise move

even if the deposits up to 50,000 is insured, but when really kanna wouldn't get back the $$ immediately one.. might take 1-2 years for processing

same for your stocks.. in the news it clearly states that their equity department not making $$$ at all, if loss making how to survive long unless management can turn it around, if they close retail equity down... SGX come in to help, will also need months for them to arrange another house to take over everything, all this kinda delay means time value of $$ and u might not be able to exit your positions during the cross over phase
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Old 09-01-2015, 12:40 PM   #3010
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Don't be too paranoid... Some concern about SCB online trading platform is warranted after that news, but SCB closing down in SG? Do you think MAS gives 50k insurance for all deposits so easily? Singapore is a financial hub and if a bank closes down just like that without warning, don't think we have any more face and reputation to continue our financial services business....
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Old 09-01-2015, 12:54 PM   #3011
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I am a new investor, was looking to use the sc platform, now should I use other platforms?
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Old 09-01-2015, 12:56 PM   #3012
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be patient. Unless you got a trade you die die need to make asap, then try dbsv, cimb. preferably cash upfront, lower comm.
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Old 09-01-2015, 01:05 PM   #3013
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Don't be too paranoid... Some concern about SCB online trading platform is warranted after that news, but SCB closing down in SG? Do you think MAS gives 50k insurance for all deposits so easily? Singapore is a financial hub and if a bank closes down just like that without warning, don't think we have any more face and reputation to continue our financial services business....
Yeah, Bank won't close de, at most charge Minimun comm for the trading
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Old 09-01-2015, 01:12 PM   #3014
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I am not sure what will happen to the trading side of SC and our online trading account but guys there nothing afraid to worry about the banking side of SC. In fact, investors confident in SC increases after they announce they will axes their equity business, their stock went up by 1% yesterday.

SC balance sheet is still strong overall and even in the worst case they really go under, being a huge presence bank like SC, UK government will probably bail them out. So I can sleep at night without any worries.
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Old 09-01-2015, 01:40 PM   #3015
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The World's 29 Too Big To Fail Banks, JPMorgan At The Top - Forbes


Scb is also in the list, don't worry for now
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