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

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Old 13-01-2015, 12:45 AM   #3136
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I think you need to go down to their branch to open a esaver account and the various currency settlement account you need. The instant signup seems to be for current customer who already have an account but don't have online account.

Btw, if you wish to open a trading account with scb, u must possess investment experience in listed specified investment products (SIP) or u have transacted at least six (6) times in listed SIPs in the last three (3) years.
How would they usually verify my 6 transactions in listed SIPs in the last 3 years? Are they just going to ask me verbally?
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Old 13-01-2015, 12:48 AM   #3137
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thanks! very informative! is it possible to open an Esaver account online, or do I have to go down to one of their branches to get an account?

When transferring between my Esaver account and the settlement account, are there any charges?
Transferring fund between Esaver and sgd settlement account is free, for the others, there is a currency spread, and it changes depending on the currency exchange rate plus the bank's spread. The US dollar has one of the lowest spread but it's still considerable(to me) so try not to keep changing back and forth.

e.g. esaver to US settlement account, you need to exchange your SGD at 1.3447+ to usd or something even though the current exchange rate is just 1.3347. So if you exchange $1344.7, you only get $1000USD to buy stocks.
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Old 13-01-2015, 12:51 AM   #3138
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How would they usually verify my 6 transactions in listed SIPs in the last 3 years? Are they just going to ask me verbally?
Many guys in this forum has mentioned they smoke scb and say they have some finance degree or they traded 6 companies before.
I'm not sure if it works but according to many here, it works.

I'm the guai guai boy, I did the 6 transaction for real in ocbc(expensive sia) and then switch to scb. But over the long term, it's worth it de. The fees saved is in the thousands for me.
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Old 13-01-2015, 12:57 AM   #3139
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Many guys in this forum has mentioned they smoke scb and say they have some finance degree or they traded 6 companies before.
I'm not sure if it works but according to many here, it works.

I'm the guai guai boy, I did the 6 transaction for real in ocbc(expensive sia) and then switch to scb. But over the long term, it's worth it de. The fees saved is in the thousands for me.

So basically it went like, the counter lady asked whether you had experience in trading, you said yes, and the she went ahead with your account creation, just like that? lol!
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Old 13-01-2015, 01:00 AM   #3140
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For mine, which was done 2 years ago, the guy doing the paperwork ask me to list the 6 companies down, I too lazy, so I throw him my 6 transaction paper from ocbc for him to fill it for me. Perhaps, other people can gave you a clearer idea of how to smoke through. Me is not a good example in terms of smoking.
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Old 13-01-2015, 01:10 AM   #3141
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For mine, which was done 2 years ago, the guy doing the paperwork ask me to list the 6 companies down, I too lazy, so I throw him my 6 transaction paper from ocbc for him to fill it for me. Perhaps, other people can gave you a clearer idea of how to smoke through. Me is not a good example in terms of smoking.
would be interesting to hear from everyone how they got through the process!
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Old 13-01-2015, 01:14 AM   #3142
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I just go to the receptionist and tell her that I want to create a trading account. Then I wait for my number, sign a few forms and wait for account creation. Lol.
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Old 13-01-2015, 01:14 AM   #3143
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Transferring fund between Esaver and sgd settlement account is free, for the others, there is a currency spread, and it changes depending on the currency exchange rate plus the bank's spread. The US dollar has one of the lowest spread but it's still considerable(to me) so try not to keep changing back and forth.

e.g. esaver to US settlement account, you need to exchange your SGD at 1.3447+ to usd or something even though the current exchange rate is just 1.3347. So if you exchange $1344.7, you only get $1000USD to buy stocks.
When buying stocks with the scb trading account, will I be purchasing the stock at the its price at the present time, ie, live? Or would it be like when I buy a stock, the price would be the average price of the day or end of day, etc?

for eg, i checked on yahoo, and it showed that a stock is currently at $1.20 per shares. I log into my scb acc and buy it. Thirty minutes later, it went down to 1.10. Since I bought it 30mins ago, I will be buying it at $1.20 and not $1.10 right?
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Old 13-01-2015, 01:15 AM   #3144
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You have to set your own price for the shares you buying. That's the limit order.
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Old 13-01-2015, 01:15 AM   #3145
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I just go to the receptionist and tell her that I want to create a trading account. Then I wait for my number, sign a few forms and wait for account creation. Lol.
Which branch was that?
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Old 13-01-2015, 01:16 AM   #3146
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Which branch was that? might try the same too!
Clementi branch. Good luck lol.

Maybe you must be confident of what to do. I just told him what I want lol.
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Old 13-01-2015, 01:17 AM   #3147
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You have to set your own price for the shares you buying. That's the limit order.
Can explain a little more on this? am too new to this idea of limit order.

Do you mean like I can get to set like I want to buy 100 shares when a particular stock reaches 1.20 or below, like this?
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Old 13-01-2015, 01:19 AM   #3148
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Clementi branch. Good luck lol.

Maybe you must be confident of what to do. I just told him what I want lol.
thanks! was thinking whether I should go ahead and smoke. not sure if they would black list me if they found out. lol...
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Old 13-01-2015, 07:13 AM   #3149
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Can explain a little more on this? am too new to this idea of limit order.

Do you mean like I can get to set like I want to buy 100 shares when a particular stock reaches 1.20 or below, like this?
As explained previously. You can only set the price you want to buy or sell. There is no market order for stanchart trading platform where you can buy or sell at whatever the market rate is. That's one of the con for using their platform, but I find it as a pro though.

Like you want to buy a lot of shares at $1/share. Means you need to key in $1000 (1000 shares). If the market price is less than the price you keyed, you will buy at the current market price and the rest will be refunded into your account. If the market price is more than the price you keyed, you won't be able to buy any shares at all and your orders will be unfilled.

Any unfilled orders should be automatically deleted and you will need to key new orders everyday.

Last edited by linxiaobei; 13-01-2015 at 07:16 AM..
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Old 13-01-2015, 07:31 AM   #3150
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Eh, eps and giro are either/or, but eps/giro and cut are either/and

You can have one of this arrangement [eps and cut] or [giro and cut] or [giro only] or [eps only]

Well, if you wanna do t+5 settlement, 0.275%, $25 min can choose settlement= cash (eps or giro), if u wanna do cash upfront (via staraver), 0.18% and $18 min choose settlement = cut at the buy ticket

2 ways to buy,
Hi Sinkie,

When selling, is it possible to still enjoy 0.18% somehow?
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