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

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Old 06-04-2015, 09:57 PM   #3676
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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.
as of now we speak

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Old 06-04-2015, 10:13 PM   #3677
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as of now we speak

Sorry dude, I can log in, no issue. I even placed an order to test.

I guess this is an individual problem that's only hitting your account seeing as no one else in the US market using SCB is complaining in any threads here.

The best thing to do now is to call scb if you need to do urgent trade.
Otherwise, call them now and inform them of this issue and ask their tech to reply in the morning. Send them this screengrab too, think you can ask which email to send to.
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Old 06-04-2015, 10:16 PM   #3678
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as of now we speak


I hope this is a serious post and not some joke. The image you posted has a copyright 2012 in fine print. I hope you know its now 2015 and the copyright on the current SCB page is 2015.
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Old 06-04-2015, 10:28 PM   #3679
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nope, i dont sh1t when it comes to things like this. after u all said no problem, i used my IE and indeed, it did work. then i F5 on my chrome and wala, i was brought to the login page. perhaps some pro can shed some light on this?

btw thanks for verifying here
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Old 06-04-2015, 10:40 PM   #3680
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nope, i dont sh1t when it comes to things like this. after u all said no problem, i used my IE and indeed, it did work. then i F5 on my chrome and wala, i was brought to the login page. perhaps some pro can shed some light on this?

btw thanks for verifying here
try to clear cache and purge cookies on your browsers and try again. Ensure that the url points correctly.
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Old 07-04-2015, 10:17 AM   #3681
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try to clear cache and purge cookies on your browsers and try again. Ensure that the url points correctly.
the url is a bookmark on my chrome. i cannot remember whether i did log in during the day at home but in all honesty, i had really thought they were doing maintenance at night for the past 2 weeks!
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Old 08-04-2015, 03:28 PM   #3682
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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)
For USA tax on dividends and capital gains, does SCB automatically handle it? like straightaway deduct the amount of money after we sell our stocks?

I have heard SCB has worse FX USD/SGD conversion as compared to other brokerage. Anyone has examples? like how much other brokerage are charging for the conversion?
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Old 08-04-2015, 03:54 PM   #3683
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For USA tax on dividends and capital gains, does SCB automatically handle it? like straightaway deduct the amount of money after we sell our stocks?

I have heard SCB has worse FX USD/SGD conversion as compared to other brokerage. Anyone has examples? like how much other brokerage are charging for the conversion?
yes, they auto deduct the tax amount.
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Old 08-04-2015, 04:38 PM   #3684
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For USA tax on dividends and capital gains, does SCB automatically handle it? like straightaway deduct the amount of money after we sell our stocks?

I have heard SCB has worse FX USD/SGD conversion as compared to other brokerage. Anyone has examples? like how much other brokerage are charging for the conversion?
Refer to post #3600
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Old 08-04-2015, 05:22 PM   #3685
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the FX spread is very wide

local brokerage house FX spread normally 60 basis points, but for SCB i think its above 200 bps
Refer to post #3600

SCB exchange
1000 SGD at 1.377654 to USD. So you get 725.87USD from 1k SGD
1000 USD at 1.352902 to SGD. So you get 1,352.90SGD from 1k USD.
Convert SGD to USD, then USD to SGD again.
it is like 1.8% loss in F/X exchange
That's pretty huge...
Any example of local brokerage FX spread?
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Old 09-04-2015, 11:25 AM   #3686
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Can u guys login? The page keep auto refreshing after I key in my details
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Old 09-04-2015, 11:27 AM   #3687
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Can u guys login? The page keep auto refreshing after I key in my details
testing nao!

edit: can log in and trade. Over sir.
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Old 09-04-2015, 11:34 AM   #3688
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testing nao!

edit: can log in and trade. Over sir.
Ok thanks. I'll give them a ring then
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Old 09-04-2015, 11:58 AM   #3689
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Convert SGD to USD, then USD to SGD again.
it is like 1.8% loss in F/X exchange
That's pretty huge...
Any example of local brokerage FX spread?
You can always open a US$ Foreign currency account with SCB.
If you are regular banking customer, you have to maintain US$2,000 in the account otherwise there is a fall-below fee.

Frankly, I don't see any problem with that. If you are a big customer doing a lot of US$ transactions, the US$2,000 minimum in the account is small change and you can avoid the unfavourable forex (you can withdraw the US$ and change it elsewhere). Alternatively, become priority customer, get US$ account with no fees and lower brokerage commissions.

On the other hand if you are a small time customer, then why complain about such things. SCB is already doing you a favour by subsidising your small trades. Like I said earlier, you can do trades for less than $1 commission, but after deducting cost of paper and printing of the confirmation note, the envelope and postage, SCB where got any profit? To survive, they need to take a little from the forex.
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Old 09-04-2015, 12:22 PM   #3690
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Ok thanks. I'll give them a ring then
Try chrome?
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