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

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Old 16-02-2015, 11:06 PM   #3466
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hey all, i have a very basic question to ask.

i notice there is the securities settlement account and securities trading account. am i right that to start trading my funds must be inside the settlement account? if so then what is the purpose of the securities trading account.

thanks!
It is quite self-explanatory. Trading account is for trading and settlement account is for settlement of trades. You should go read their FAQs thoroughly before you start trading.
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Old 17-02-2015, 01:06 AM   #3467
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hey all, i have a very basic question to ask.

i notice there is the securities settlement account and securities trading account. am i right that to start trading my funds must be inside the settlement account? if so then what is the purpose of the securities trading account.

thanks!
STA is just an estimated portfolio worth which includes your holdings both overseas and local. It doesn't include how much money you have in your SSA both FCY and local.

Yes, You need to transfer your fund into the respective SSA to start trading in the respective market. E.g. to trade NYSE, you need to transfer your fund into FCY SSA USD account.
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Old 17-02-2015, 04:35 PM   #3468
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I am SURE this has been answered, but I have had no luck with the 20 odd pages i have gone through.

Can someone please advise how much it will cost to move US shares (from POEMS) to Standard Chartered?

Who do I approach to get that done? POEMS or Standard Chartered. (again this is just for US shares)

If dividend is going to be paid soon, will there be a problem if it is during the process of the share moving from POEMS to Standard Chartered?

Thank you so much in advance....

Last edited by GoldenBargain; 17-02-2015 at 04:38 PM..
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Old 17-02-2015, 04:42 PM   #3469
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I am SURE this has been answered, but I have had no luck with the 20 odd pages i have gone through.

Can someone please advise how much it will cost to move US shares (from POEMS) to Standard Chartered?

Who do I approach to get that done? POEMS or Standard Chartered. (again this is just for US shares)

If dividend is going to be paid soon, will there be a problem if it is during the process of the share moving from POEMS to Standard Chartered?

Thank you so much in advance....
Go SCB to do the transfer.

As for dividend, suggest waiting till after book record date then transfer

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Old 17-02-2015, 04:50 PM   #3470
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Go SCB to do the transfer.

As for dividend, suggest waiting till after book record date then transfer
Thanks so much for this.

Do you know what the cost is like to move each US counter from POEMS to SCB?
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Old 17-02-2015, 04:58 PM   #3471
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Thanks so much for this.

Do you know what the cost is like to move each US counter from POEMS to SCB?
I think Sinkie would be clear on this.

I did that last time when I move my OCBC US holdings to SCB.
It cost a bloody $57 per counter. I have to arrange on both side. Of course there should be a cheaper way to do it, I was just silly. Don't follow my steps. Find a cheaper alternative or just buy/sell.
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Old 17-02-2015, 05:04 PM   #3472
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I think Sinkie would be clear on this.

I did that last time when I move my OCBC US holdings to SCB.
It cost a bloody $57 per counter. I have to arrange on both side. Of course there should be a cheaper way to do it, I was just silly. Don't follow my steps. Find a cheaper alternative or just buy/sell.
That is crazy pricey! i might as well just park what i have leftover in POEMS in POEMS till i am ready to sell. And just continue trading with SCB. Sigh...pricey mistake
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Old 17-02-2015, 05:27 PM   #3473
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all my SG stock are now in CDP, if I switch to SCB, can just sell those share directly?
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Old 17-02-2015, 05:38 PM   #3474
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all my SG stock are now in CDP, if I switch to SCB, can just sell those share directly?
nope u can't. You can only sell whatever holdings you have under SCB. Unless you transfer those in your CDP holdings to SCB.

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Old 17-02-2015, 06:05 PM   #3475
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That is crazy pricey! i might as well just park what i have leftover in POEMS in POEMS till i am ready to sell. And just continue trading with SCB. Sigh...pricey mistake
I have a crazier idea. Transfer to ThinkOrSwim or other non-local broker.

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Old 18-02-2015, 12:10 PM   #3476
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Shifus,

How to check how much transaction/brokerage fees have i paid?
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Old 18-02-2015, 12:43 PM   #3477
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Shifus,

How to check how much transaction/brokerage fees have i paid?
U mean from all your trades thus far? No way to check.

If you mean individual trade each time, it's listed before you click confirm to buy/sell. After that you can just calculate backwards from the amount given/deducted from your trading price.

E.g. you put a $150 buy on BRK.B and it goes through. The $$ they deducted from you is maybe $150.60, so $0.60 is the comm+GST+etc. fees.
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Old 18-02-2015, 12:48 PM   #3478
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Shifus,

How to check how much transaction/brokerage fees have i paid?
Ask your broker
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Old 18-02-2015, 12:52 PM   #3479
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U mean from all your trades thus far? No way to check.

If you mean individual trade each time, it's listed before you click confirm to buy/sell. After that you can just calculate backwards from the amount given/deducted from your trading price.

E.g. you put a $150 buy on BRK.B and it goes through. The $$ they deducted from you is maybe $150.60, so $0.60 is the comm+GST+etc. fees.
yea I was trying to see if i can get the brokerage fees from all trades and lump them together. at least less work.

i guess i got to do the primitive way for the last few purchases. (Guess i will record down next time when i do a purchase)
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Old 18-02-2015, 01:03 PM   #3480
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yea I was trying to see if i can get the brokerage fees from all trades and lump them together. at least less work.

i guess i got to do the primitive way for the last few purchases. (Guess i will record down next time when i do a purchase)
I keep the paper statements they send to me
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