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

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Old 06-12-2015, 08:52 PM   #5236
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I applied online for dash easy via SingTel, so need to wait for ATM card, PIN number, one key token... All sent separately. Receive all then can go iBanking to apply trading account. Then have to wait again. Don't make the same mistake as me.
i believe the rationale for sending seperately is security reasons. imagine atm card, pin and token all same mail...then the postman slot wrong box..
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Old 06-12-2015, 09:58 PM   #5237
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i believe the rationale for sending seperately is security reasons. imagine atm card, pin and token all same mail...then the postman slot wrong box..
I know. Simply highlighting here the longer time it would take to activate the account if done online like me.
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Old 06-12-2015, 10:11 PM   #5238
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That time when I went to open account. Everything took less than 14 workings days. Hahaha

But that was before dash easy savings account.

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Old 06-12-2015, 11:00 PM   #5239
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That time when I went to open account. Everything took less than 14 workings days. Hahaha

But that was before dash easy savings account.
now still less than 14 days if you follow their SOP. I just opened last month only and everything done in less than a week.
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Old 07-12-2015, 11:59 AM   #5240
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now still less than 14 days if you follow their SOP. I just opened last month only and everything done in less than a week.
Ya. I find it quite okay. On par with other brokerages. But of course must follow their SOP lor

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Old 07-12-2015, 01:53 PM   #5241
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Just opened an account. How come all my statement is in USD?
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Old 07-12-2015, 02:03 PM   #5242
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Just opened an account. How come all my statement is in USD?
You mean like the image below?
I think you are still confused but it's pretty simple.

You only need to open 2 account.
Esaver or Dash
SSA.



If you look at the above, you will see 4 accounts under 2 heading,
A) Accounts
B) Investments

Under (B) Investments is the Securities Trading account which is just to tell you what's the total you have invested, it's not an actual account, more for reference only. You can ignore it. It's automatically created by default when you open a SCB online trading account.

Now for the meat.
Under (A) Accounts you have
1. Securities Settlement Account (SSA)
2. FCY Securities Settlement Account (FCY SSA)
3. Esaver/Dash

Esaver or Dash account acts as a saving/current account. It also acts as a bridge for you to transfer funds to 1 and 2. You cannot direct transfer funds to 1 and 2 from other banks. No way no how. You need either Esaver or Dash to transfer funds to 1 and 2.

What is SSA?
1 and 2 SSA are accounts in different currencies for you to buy/sell stocks.
This is your trading account.

As you can tell from the picture, 1 is in SGD, 2 is in USD. You can open as many different currency account as you want and I encourage you to open all the available currencies, it doesn't cost a thing. Just tell the person you want to trade all the markets and need all the FCY SSA open. The person will be lazy sometimes because it's a lot of paperwork.

So once you open a Esaver/Dash and a Trading Account(SSA), you can start to trade. All you need to do is transfer $$ into either Esaver or Dash and then transfer $$ from Esaver/Dash into the SSA. Use the SSA to buy/sell.

You need to use the right currency to buy the stock.
In SGX, most stocks are denoted in SGD, some are in other currency like USD. Hong Kong Land Holdings is one, Dairy Farm is another.
You can also use the USD to buy US stocks!
I encourage you to open at least USD FCY SSA.

So that's about it, hope it's clearer with the picture.
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Old 07-12-2015, 02:08 PM   #5243
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Have just received my first monthly statement which includes dividends. Can I just check how come there is an extra transaction under the account movement which debits the dividend amount "Transfer to bank A/C xxx" <- not my account. Did not touch the dividends either so shouldnt there be no movement? Thanks
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Old 07-12-2015, 02:11 PM   #5244
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Have just received my first monthly statement which includes dividends. Can I just check how come there is an extra transaction under the account movement which debits the dividend amount "Transfer to bank A/C xxx" <- not my account. Did not touch the dividends either so shouldnt there be no movement? Thanks
You transferred $$ from esaver to trading account or the other way.
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Old 07-12-2015, 02:17 PM   #5245
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I did not make any $ transfer between accounts for this month at all. The amount transferred is the dividends amount credited, which I did not even touch
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Old 07-12-2015, 02:22 PM   #5246
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I did not make any $ transfer between accounts for this month at all. The amount transferred is the dividends amount credited, which I did not even touch
You were expecting your dividends to get credited to where?
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Old 08-12-2015, 10:49 AM   #5247
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seems no way to check how much the commission and GST costs on my past transactions ?
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Old 08-12-2015, 11:03 AM   #5248
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seems no way to check how much the commission and GST costs on my past transactions ?
Hardcopy contract statement or monthly securities account statement should have them.
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Old 08-12-2015, 11:04 AM   #5249
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Just opened an account. How come all my statement is in USD?
You received the monthly account statement in hard copy is it? Yeah it's normal.
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Old 08-12-2015, 11:13 AM   #5250
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seems no way to check how much the commission and GST costs on my past transactions ?
you can refer to this:
Go to Online Trading > Fees and Services > Cost Calculator

After inputting the parameters, they will show you the breakdown, but no GST is included.

To calculate actual, use this formula:

Trade Consideration + [(Client Commission + SG Clearing Fee) x 1.07], round up any cents. That should give you a more accurate picture.
commission should be stated but not GST, use the formula above to work it out. after GST should be about Trade Consideration x 1.00248775 (for buy)

Last edited by Prof Goh; 08-12-2015 at 11:17 AM..
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