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

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Perisher

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Currently I have a DASH savings account. If I want to open a foreign currency account to deposit USD, does that means I will need to open a e$saver ?

You do not need a foreign currency account like the link below
https://www.sc.com/sg/save/current-foreign-currency.html

No need.

What you do need though, for trading online stocks in SCB, is a FCY SSA which you can apply for free.
Foreign currency securities settlement account*

You can open as many of it as you like and I personally opened all just in case I need to trade other market using other currencies.
 

Weaboo

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You do not need a foreign currency account like the link below
https://www.sc.com/sg/save/current-foreign-currency.html

No need.

What you do need though, for trading online stocks in SCB, is a FCY SSA which you can apply for free.
Foreign currency securities settlement account*

You can open as many of it as you like and I personally opened all just in case I need to trade other market using other currencies.

Just want to ask. If I trade in the hangseng index, are there any additional fees or taxes?
 

Perisher

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Just want to ask. If I trade in the hangseng index, are there any additional fees or taxes?

I have never manage to trade in HSI, yyhwin did so might wanna ask him.
Not sure which broker he is using but the fees and taxes by HSI should be the same. For SCB should be the usual you pay for buying US/other counters.
But unless you are buying big, all these fees is just a few cents to a few dollars max.

All I know is, there are minimum lots to purchase and it's different for different counters...:s22:
 

wulu1_69

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if I buy a counter from sgx in usd, need to convert to usd first or just deduct from my current sgd balance after conversion rates?
 

meanbeans

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Rights Issue via SCB: Croesus Retail Trust

Hi Guys,

Just want to share the exp. after going thru my first rights issue via SCB. As it turns out, it was a total non-issue at all and kudos to SCB for handling it well.

Timeline:
1) Bought Croseus Retail trust during CR.

2) Rights shares were automatically & correctly created in my portfolio in SCB.

3) Received letter in the mailbox telling me of available options:
i) Accept Rights
ii) Lapse(Default)
iii) Over subscribe
iv) Sell rights(via normal trade)

In the letter they also gave u a deadline to inform them about the decision(16 Oct, 5pm).

4) Call SCB to tell them of my decision to accept i) & oversubscribe iii).

5) Have enough funds in yur settlement account(fund debit date 23 OCt).

6) Wait for shares to be updated to your portfolio and any refunds from the over subscription.

Hope the above is helpful to fellow EDMWers.
 

Perisher

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if I buy a counter from sgx in usd, need to convert to usd first or just deduct from my current sgd balance after conversion rates?

Convert first. Any counter that requires USD to transact will need to be funded by USD FCY SSA account.
 

Jazzbie

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Hi Guys,

Just want to share the exp. after going thru my first rights issue via SCB. As it turns out, it was a total non-issue at all and kudos to SCB for handling it well.

Timeline:
1) Bought Croseus Retail trust during CR.

2) Rights shares were automatically & correctly created in my portfolio in SCB.

3) Received letter in the mailbox telling me of available options:
i) Accept Rights
ii) Lapse(Default)
iii) Over subscribe
iv) Sell rights(via normal trade)

In the letter they also gave u a deadline to inform them about the decision(16 Oct, 5pm).

4) Call SCB to tell them of my decision to accept i) & oversubscribe iii).

5) Have enough funds in yur settlement account(fund debit date 23 OCt).

6) Wait for shares to be updated to your portfolio and any refunds from the over subscription.

Hope the above is helpful to fellow EDMWers.

Sounds decent enough. I assume that 23 Oct is also the deadline to make payment for the rights? Only risk will be human error on transferring sufficient funds or that the SCB system somehow missed the settlement payment for you.

Does SCB charge any fee for exercising rights?
 

chowck

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Not that I know of that Scb is charging for exercising rt issue.

So another 'plus' point compared to other brokers where one hv to cough out $2 fee from ATM.:)
 

MikeDirnt78

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Not that I know of that Scb is charging for exercising rt issue.

So another 'plus' point compared to other brokers where one hv to cough out $2 fee from ATM.:)

are you sure there is a $2 fee for rights issue with shares held in CDP? i totally forgotten about this.

for SCB, confirm there is no fee. but must adhere to their tight deadline.
 

Equivocal2011

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Pai seh if this has been replied before.

I wanted to transfer out the whole amount in dash account to another and notice that it forces you to retain minimum $1 in account ah? :s13:
 

dakboyan

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Tried to apply for this account...but got rejected cos i failed the CKA assessment. No idea how to go around this as ive never did any investing before in e last 3-4 years.

Just wanna open an account to start a manual RSP buying ETFs. Is there any way to pass the CKA? Or should i just give up and go with POSB/POEMS/Ifast RSP plans?
 

Soul77

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Tried to apply for this account...but got rejected cos i failed the CKA assessment. No idea how to go around this as ive never did any investing before in e last 3-4 years.

Just wanna open an account to start a manual RSP buying ETFs. Is there any way to pass the CKA? Or should i just give up and go with POSB/POEMS/Ifast RSP plans?

I'm not sure if you can pass this test and show them your result to pass the assessment

https://onlineeducation.sgx.com/specifiedinvestmentproducts/
 

linxiaobei

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Jazzbie

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are you sure there is a $2 fee for rights issue with shares held in CDP? i totally forgotten about this.

for SCB, confirm there is no fee. but must adhere to their tight deadline.

Need to pay $2 for the ATM service. But I am refunded the $2 along with the excess rights that was not allocated subsequently so can be considered no fee. If didn't subscribe for excess rights, not sure if $2 will still be refunded.
 
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