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

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Old 27-03-2015, 02:14 PM   #3661
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Thanks for the info!

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Old 27-03-2015, 02:19 PM   #3662
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I've checked with SCB, the CSO told me over phone that I just need to go to SCB office and sign the transfer forms.

I believe OCBC will charge $10.70 to transfer out the shares. Do you happen to know whether CDP will charge a fee to transfer from CDP to SCB?
Cdp to scb is free
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Old 27-03-2015, 03:58 PM   #3663
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Cdp to scb is free
I saw in T&C that SCB does not charge transferring CDP to SCB.

But does CDP charge?


For those who have done it, I want to transfer small shares from my CDP to SCB, is it really free (from both SCB and CDP) and how long will the process takes?

Thanks in advance
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Old 28-03-2015, 10:26 AM   #3664
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I saw in T&C that SCB does not charge transferring CDP to SCB.

But does CDP charge?


For those who have done it, I want to transfer small shares from my CDP to SCB, is it really free (from both SCB and CDP) and how long will the process takes?

Thanks in advance
It takes about a week plus to 2 weeks. If after 2 weeks you still see your shares in CDP, call SCB securities if they received your form. I kenda one, wait 2 week and still no transfer, called and they managed to Double up the process for me. I have done about 4 times, transfer those few lots counters
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Old 28-03-2015, 11:23 AM   #3665
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By the way, why transfer from CDP to SCB? From what I see, there are more pros to leaving shares you already have in CDP.


(1) In the future, if you want to transfer out from SCB (eg: to transfer to next of kin etc), the transfer out costs a lot more than CDP.
(2) CDP easier to participate in rights issues, scrip dividend and other corporate actions where you need to make a choice.
(3) If there is a big crash and every rushes to SCB to buy or sell, system may be overloaded (read this thread on how many times SCB has failed). I am also not sure whether the SCB share trading system is generating sufficient profits for new investment in infrastructure. (eg: I can make trades with commission less than $1. Yet SCB must send me SMS and post me a contract note, cost of envelope, letterhead, postage will eat up all the profits). [CDP - you just maintain 2 brokerage accounts, 1 fail, the other still can log in]
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Old 28-03-2015, 11:38 AM   #3666
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By the way, why transfer from CDP to SCB? From what I see, there are more pros to leaving shares you already have in CDP.


(1) In the future, if you want to transfer out from SCB (eg: to transfer to next of kin etc), the transfer out costs a lot more than CDP.
(2) CDP easier to participate in rights issues, scrip dividend and other corporate actions where you need to make a choice.
(3) If there is a big crash and every rushes to SCB to buy or sell, system may be overloaded (read this thread on how many times SCB has failed). I am also not sure whether the SCB share trading system is generating sufficient profits for new investment in infrastructure. (eg: I can make trades with commission less than $1. Yet SCB must send me SMS and post me a contract note, cost of envelope, letterhead, postage will eat up all the profits). [CDP - you just maintain 2 brokerage accounts, 1 fail, the other still can log in]
For me SCB wins for shares traded in foreign currencies as you don't incur an FX loss when dividends are paid out.

Corporate actions have a delay time but so far it isn't so bad. Sometimes for people with large portfolios (I have 20+ counters), it makes more sense to use SCB to cut down on the amount of mail you get.

As for the comms, well, you get what you pay for ma, haha. cheaper comms, but don't expect a great platform.

SCB also wins for consolidating penny stocks as the $25 minimum charge eats into your capital, especially when you put <$1000 into a counter.

Similarly for blue chips and pennies, one can use SCB to DCA more effectively and with lesser restrictions than with other brokerages.

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Last edited by Asphodeli; 28-03-2015 at 07:34 PM..
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Old 28-03-2015, 09:21 PM   #3667
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hey guys, have 2 questions.
1) can i use the sc online trading account to purchase etfs available overseas? i.e. SPDR gold etf and morningstar moat focus index

2) if i were to dca monthly, would it be better if i use sc online trading or ib?
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Old 28-03-2015, 10:57 PM   #3668
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hey guys, have 2 questions.
1) can i use the sc online trading account to purchase etfs available overseas? i.e. SPDR gold etf and morningstar moat focus index

2) if i were to dca monthly, would it be better if i use sc online trading or ib?
1) Yup, but be aware of tax issues on dividends and capital gains - this is usually handled by your custodian.

2) IB as in Interactive Brokers? Never used it before, but SCB is a good idea as there is no minimum commission, whereas the rest of the local brokerage houses, you're charged a minimum of $25 (unless you're a "somebody" to them, haha)
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Last edited by Asphodeli; 28-03-2015 at 11:04 PM..
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Old 28-03-2015, 11:00 PM   #3669
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hey guys, have 2 questions.
1) can i use the sc online trading account to purchase etfs available overseas? i.e. SPDR gold etf and morningstar moat focus index

2) if i were to dca monthly, would it be better if i use sc online trading or ib?
1) Yes. Those are both listed in America, so you can buy them using Stanchart. (That MOAT ETF seems a bit odd, though - it's basically a large-cap equity fund that charges way too much. It goes pretty much tick-for-tick with SPY, which charges a lot less; I think you'd be better off with SPY.)

2) Depends on your account size. If you're over $100k or so, then definitely IB; below that number, or if you're mostly focusing on Singapore stocks, then definitely Stanchart.
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Old 06-04-2015, 09:19 AM   #3670
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1) Yes. Those are both listed in America, so you can buy them using Stanchart. (That MOAT ETF seems a bit odd, though - it's basically a large-cap equity fund that charges way too much. It goes pretty much tick-for-tick with SPY, which charges a lot less; I think you'd be better off with SPY.)

2) Depends on your account size. If you're over $100k or so, then definitely IB; below that number, or if you're mostly focusing on Singapore stocks, then definitely Stanchart.
cannot trade in US market leh. i noticed the past 2 weeks or so, scb keeps having maintenance at night
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Old 06-04-2015, 10:11 AM   #3671
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By the way, why transfer from CDP to SCB? From what I see, there are more pros to leaving shares you already have in CDP.


(1) In the future, if you want to transfer out from SCB (eg: to transfer to next of kin etc), the transfer out costs a lot more than CDP.
(2) CDP easier to participate in rights issues, scrip dividend and other corporate actions where you need to make a choice.
(3) If there is a big crash and every rushes to SCB to buy or sell, system may be overloaded (read this thread on how many times SCB has failed). I am also not sure whether the SCB share trading system is generating sufficient profits for new investment in infrastructure. (eg: I can make trades with commission less than $1. Yet SCB must send me SMS and post me a contract note, cost of envelope, letterhead, postage will eat up all the profits). [CDP - you just maintain 2 brokerage accounts, 1 fail, the other still can log in]
for small players - the brokerage fees in the normal banks might be more expensive than transferring to SCB and selling it off via SCB. (Whether its worth his effort, idk)

iirc, even if you sell just 1 AAPL (for example), you still get hit by the full brokerage fees.
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Old 06-04-2015, 11:18 AM   #3672
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cannot trade in US market leh. i noticed the past 2 weeks or so, scb keeps having maintenance at night
eh, U log in after market close is it?
They do maintenance after market close every night. You know the market trade till 4am right?

I trade US market in the wee hours one... 2-3am, no problem.
US has daylight saving so they change trading hours every 6 months.
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Old 06-04-2015, 11:48 AM   #3673
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eh, U log in after market close is it?
They do maintenance after market close every night. You know the market trade till 4am right?

I trade US market in the wee hours one... 2-3am, no problem.
US has daylight saving so they change trading hours every 6 months.
the past 2 weeks i have been logging in at 10-11+ and it always show the maintenance notice.
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Old 06-04-2015, 12:42 PM   #3674
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the past 2 weeks i have been logging in at 10-11+ and it always show the maintenance notice.
Strange, as I bought some counters past few weeks, no issue.
Challenge accepted. I will log in tonight and check for you.
SCB is problematic that way.
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Old 06-04-2015, 12:58 PM   #3675
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Strange, as I bought some counters past few weeks, no issue.
Challenge accepted. I will log in tonight and check for you.
SCB is problematic that way.
thank you!!!

pls post your login and log out time too
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