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

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Old 06-06-2011, 08:26 PM   #31
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for bank - u can only sell those shares thru that particular bank
for cdp - u can sell those shares thru any broker that your cdp a/c is linked to

actually, my 1st point is not very complete
i think u would be able to get the bank that's holding your shares to transfer them to your cdp a/c... and i'm very sure there'll be some transaction fees involved.
still don't understand your first point.. do it mean when I sell, the potential buyers must be users of that bank, thus a much smaller market, than the entire market of CDP?

I only use one bank to buy and sell.. my portfolio is small..
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Old 06-06-2011, 08:34 PM   #32
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still don't understand your first point.. do it mean when I sell, the potential buyers must be users of that bank, thus a much smaller market, than the entire market of CDP?

I only use one bank to buy and sell.. my portfolio is small..
duh. have you bought foreign shares before?
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Old 06-06-2011, 09:12 PM   #33
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so if company offer dividends, is go to SCB or to us?
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Old 06-06-2011, 10:51 PM   #34
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although u had "bought" the shares, the shares will be credited/ delivered to SCB instead of CDP.

this means SCB is the custodian of the shares. usually shares bought on SGX are kept in CDP. shares bought from other markets are kept by the brokerage as custodian

you will not be involved with CDP.. all transactions only between u n SCB

now only wondering if the "shares" exists physically or its merely an open position
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Old 07-06-2011, 08:34 AM   #35
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still don't understand your first point.. do it mean when I sell, the potential buyers must be users of that bank, thus a much smaller market, than the entire market of CDP?

I only use one bank to buy and sell.. my portfolio is small..
i'm very sure that, with time, your portfolio will grow

potential buyers are not limited to bank users... u can sell at whatever market price there is...
scb just act like your broker who also keep your shares for u
and as what garlic butter said...

as pointed out, i also wonder about entitlements as well... dividends.. rights.. bonus... share offerings in a related company...
how would all these work ??

btw, straitstimes did an article today on this new scb platform - but no mention of scb being custodian of your shares

Last edited by tkwei123; 07-06-2011 at 08:48 AM..
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Old 07-06-2011, 08:46 AM   #36
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now only wondering if the "shares" exists physically or its merely an open position
lol... i'm wondering that too...
for a short-term trader, it wouldn't really matter
but for myself, who hardly trades and invest mostly for passive income, its a big consideration...
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Old 07-06-2011, 09:06 AM   #37
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From the comments I am seeing, I think its obvious that SCB did or is doing a bad job promoting their online trading platform.

Yes it attracted a lot of attention with its 0.2%, no minimum commission sale pitch but between all of us here (and many of us are hardly novice when it comes to trading shares), none of us seems to know what the correct situation is.

For example, does the promotion period refers to the '2 free trades' (I suspect this to be the case) or does it refers to the '0.2% no min comm' thingy? Again no one knows.

If I'm very very free, I may call up the customer service later to clarify.
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Old 07-06-2011, 09:12 AM   #38
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its 2 free trades "worth $100" wor..
so $50 a trade on average...
so for those high value trades... the comm sure will bust above $50/100 easily

a $50,000 trade will attract a $100 comm liao
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Old 07-06-2011, 10:13 AM   #39
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the no min. comm. is the biggest draw for me

so paul, i save u the trouble and call them myself
firstly, the tel no. given on the promo site - 1800 747 700 - is NOT the no. to call
it should be 1800 242 5333
1st operator gave me the run-around, promising the trading side will call me back... its been 1hr.. no call back...
2nd operator gave me the correct no. to call...

this is what i got;
************************************************************
The min. comm. is an ongoing thing... its not a promo..
the promo is the 2 free trades

The custodian of your shares is confirm - SCB will keep your shares
there's no custodian fees
but if u prefer to move your shares to CDP, u can request SCB to do so and they'll arrange it - again, no fees for this
************************************************************

for myself, the 2 free trades promo is no biggie... i'll standby and see what are the actual experiences...
(i'm secretly hoping for the no min. comm. practice to catch on) :p
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Old 07-06-2011, 10:23 AM   #40
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************************************************************
The min. comm. is an ongoing thing... its not a promo..
the promo is the 2 free trades

The custodian of your shares is confirm - SCB will keep your shares
there's no custodian fees
but if u prefer to move your shares to CDP, u can request SCB to do so and they'll arrange it - again, no fees for this
************************************************************
its funny you dont believe what i told you.

and would you believe a CSO which is probably just worked a few days back than someone who has more experience in the stock market?

by the way from the statement SCB gives you, they does not provide a complete explanation to you. i leave it to you to find out.

so if company offer dividends, is go to SCB or to us?
seems that not many people are aware about this custody thing. SCB trading platform works the same way like any other trading platform. if you have not noticed, you can choose the other brokers like phillip or UOBKH to be your custodian when you signed up the account. thats why sometimes you will see nominees like phillip or UOBKH under the shareholding statistics of a company. so in future, you might see standard chartered too.

yes you are entitled to ALL the corporate actions. but you need to settle with standard chartered. no longer through CDP.
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Last edited by MikeDirnt78; 07-06-2011 at 10:25 AM..
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Old 07-06-2011, 10:34 AM   #41
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its funny you dont believe what i told you.
eh... i'm just following one of da GOLDEN RULES here
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Old 07-06-2011, 10:50 AM   #42
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i just got my trading account activated. FYI there is a stop loss order feature in this account.
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Old 07-06-2011, 11:20 AM   #43
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i just got my trading account activated. FYI there is a stop loss order feature in this account.
Thinking of opening an account too.
Is there additional fees for the stop loss feature or is it free?
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Old 07-06-2011, 12:00 PM   #44
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although u had "bought" the shares, the shares will be credited/ delivered to SCB instead of CDP.

this means SCB is the custodian of the shares. usually shares bought on SGX are kept in CDP. shares bought from other markets are kept by the brokerage as custodian

you will not be involved with CDP.. all transactions only between u n SCB

now only wondering if the "shares" exists physically or its merely an open position
then who pay the clearing and trading fee?
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Old 07-06-2011, 12:01 PM   #45
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still don't understand your first point.. do it mean when I sell, the potential buyers must be users of that bank, thus a much smaller market, than the entire market of CDP?

I only use one bank to buy and sell.. my portfolio is small..
everyone has their own cdp account, and all the brokerage houses account that you have will have access to that cdp account of yours.
whatever stock you buy/sell through brokerage house will goes to your CDP account which is accessible by all the brokerage houses that you have account with.

but if it is under custodian account with scb, means you can only buy or sell through the custodian account..
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