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

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Old 07-06-2011, 12:05 PM   #46
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so if company offer dividends, is go to SCB or to us?
the dividend will go to SCB, which SCB will then deposit the dividend into your trust account or via cheque normally (this part im not sure, better check with scb)

but when you declare your dividend income during your tax reporting, i dont think you need to report these dividends since it is not under your name..
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Old 07-06-2011, 12:08 PM   #47
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I know I'm going to sound terribly xenophobia but I dun trust foreign banks.

When I first graduated, my first credit card was actually with SCB. There customer service was quite terrible and they were very sticky on charges like late charge, interest charge, annual fee.

So in the end, I severed my relationship with them and never looked back. More or less same experience with Citibank. Bank of China was not a bad experience.

These was in the past and I'm sure their customer service has improved. But there is nothing that these foreign banks can offered me that the big 3 does not. And this will probably be through even when I become a HNWI.

So thanks but no thanks. Once bittern twice shy.
standarchart marketing promotion is always using low commission to first attract a base, then slowly normalised into market rate.

im not surprised if they decide to remove this minimun commission after 1 year like how they adjust their saver account interest rate after a certain period.

if there is no minimun commission + no custody fee, what will they earn from? what is the gimmick?

still prefer the citibank 0.15% cash upfront
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Old 07-06-2011, 12:25 PM   #48
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so many people still have reservations about this and that. what if SCB reverts back the fees, etc.

obviously they can do anything in future. but at the moment, its a no-brainer to act now (open an account since its free anyway) and think later. then make use of the good features available now. it can save you tons of $$$ in making smaller trade amounts.

my gut feeling is, the no minimum commission will be here to stay forever. the other brokerages will be forced to revise their rates down in order to retain market share. i mean why not, since there is no credit risk afterall, so bring down the rates!
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Old 07-06-2011, 12:42 PM   #49
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Hi i wanne ask in a layman term. if our shares bought from SCB , and SCB hold custody to it. So if SCB goes down under or bust, our stock will be gone too ?
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Old 07-06-2011, 12:47 PM   #50
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Hi i wanne ask in a layman term. if our shares bought from SCB , and SCB hold custody to it. So if SCB goes down under or bust, our stock will be gone too ?
wrong information

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Last edited by Sinkie; 07-06-2011 at 03:12 PM..
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Old 07-06-2011, 03:02 PM   #51
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Yes, that is if it goes bust suddenly..
no. the stock still belong to u even the SCB bust cos it is under SCB custody and not SCB.

same go for citibank custody, kim eng custody, etc etc

all singapore brokerage coy if u buy foreign market shares it is under custody too...

Last edited by steventay; 07-06-2011 at 03:06 PM..
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Old 07-06-2011, 03:13 PM   #52
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no. the stock still belong to u even the SCB bust cos it is under SCB custody and not SCB.

same go for citibank custody, kim eng custody, etc etc

all singapore brokerage coy if u buy foreign market shares it is under custody too...
yes, you are right..
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Old 07-06-2011, 05:27 PM   #53
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SCB online trading is very good for Dollar Cost Average
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Old 07-06-2011, 10:05 PM   #54
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SCB cannot sell current holding held by CDP rite?

Anyone know what's the cost of transferring it from CDP to SCB?
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Old 07-06-2011, 10:14 PM   #55
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SCB cannot sell current holding held by CDP rite?

Anyone know what's the cost of transferring it from CDP to SCB?
http://cdp.com.sg/fee/index.html

see Transfer of Securities
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Old 07-06-2011, 10:34 PM   #56
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http://cdp.com.sg/fee/index.html

see Transfer of Securities
ok thank you.
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Old 08-06-2011, 11:18 PM   #57
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though cheap, i must say the interface is not user-friendly.

it is unlike platforms like POEMS which allows you to see live prices at a glance.

maybe monitor from platforms like POEMS, and only buy from SCB when required?
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Old 09-06-2011, 10:24 AM   #58
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though cheap, i must say the interface is not user-friendly.

it is unlike platforms like POEMS which allows you to see live prices at a glance.

maybe monitor from platforms like POEMS, and only buy from SCB when required?
yes you can do that.

its cheap so must give and take. cannot get everything for cheap. at least, it gives you a stop loss order. i havent try it though.
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Old 09-06-2011, 04:13 PM   #59
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If suay suay one day the online trading platform goes down, then the market also goes down and u kan chiong need to sell then how? cannot go other brokerage house sell also..
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Old 09-06-2011, 07:52 PM   #60
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http://www.singwealth.com/portal/ind...s-trading-fees

an article on this latest SCB offer, btw for those whose accounts are already activated and ready to go... how many working days did it took?
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