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

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Old 27-09-2012, 06:52 PM   #1006
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Cannot open Standard Chartered if no experience of SIP trading?
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Old 27-09-2012, 07:03 PM   #1007
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can....must do quiz on sgx website
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Old 27-09-2012, 08:08 PM   #1008
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Cannot open Standard Chartered if no experience of SIP trading?
Cannot, they insist on the minimum 6 trades. Even the SGX quiz doesn't work.
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Old 27-09-2012, 08:48 PM   #1009
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Cannot, they insist on the minimum 6 trades. Even the SGX quiz doesn't work.
yup cant. happened to me too.
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Old 27-09-2012, 09:22 PM   #1010
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7. What happens if I fail the Customer Account Review (CAR)?

If you fail the assessment (i.e. Option 3 of CAR is selected), you will not be able to open an equities trading account including online equity trading account(OLT). For existing online equity trading account(OLT) customers we regret that we will have to suspend your existing online trading account.

From the FAQ of SCB online trading. I assume the assessment they are referring to is the one by SGX? So i infer that if u pass the assessment, u would be allow to open an account.
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Old 27-09-2012, 09:49 PM   #1011
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7. What happens if I fail the Customer Account Review (CAR)?

If you fail the assessment (i.e. Option 3 of CAR is selected), you will not be able to open an equities trading account including online equity trading account(OLT). For existing online equity trading account(OLT) customers we regret that we will have to suspend your existing online trading account.

From the FAQ of SCB online trading. I assume the assessment they are referring to is the one by SGX? So i infer that if u pass the assessment, u would be allow to open an account.
This Stanchart FAQ is misleading. They have three options for the CAR: qualifications OR working experience OR 6 SIP trades in 3 years. Unlike other brokerages, there is no way to use the SGX Online Education Programme to qualify.
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Old 27-09-2012, 10:30 PM   #1012
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noob question:

if the order is fillled today, when will the deduction be made from my SCB securites acccount?

thanks
The deduction for SCB ish immediate. Their trading ish cash only.

Did you realize your buying limit is reduced when you key in a order? Doesn't matter it is filled anot.

Contra ish. (Transaction day + 3) more days later than pay.

Usually this one the brokage companies will default will give chiu 20k or more. (can call broker to up the limit one)
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Old 27-09-2012, 10:33 PM   #1013
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Actually you can just go for brokages rike poems, dmg, kim eng, cimb. They not so strict on the requirement.

Banks usually take compliance beri serious one.
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Old 30-09-2012, 12:05 PM   #1014
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I have just made an buy order on Friday at a price of $0.755. From the scb order status page, it stated that it's filled at $0.755 but later the day it was reflected as $0.765 on the stock portfolio page and the amount charged was the number of lots x $0.765.

Anyone knows why is this so? Thanks.
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Old 30-09-2012, 12:17 PM   #1015
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I have just made an buy order on Friday at a price of $0.755. From the scb order status page, it stated that it's filled at $0.755 but later the day it was reflected as $0.765 on the stock portfolio page and the amount charged was the number of lots x $0.765.

Anyone knows why is this so? Thanks.
If I remember correctly, I think the SCB Portfolio status reflects on the market price and not your buying order price.
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Old 30-09-2012, 11:21 PM   #1016
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This Stanchart FAQ is misleading. They have three options for the CAR: qualifications OR working experience OR 6 SIP trades in 3 years. Unlike other brokerages, there is no way to use the SGX Online Education Programme to qualify.
Then for example i wanna buy ETFs which are listed under SIP. i do not study finanicials or work in the finance industry. How can i ever clock the 6 SIP trades in the first place? i have to qualify through other brokers with the SGX exams, place 6 trades then come and apply to SCB?

This really discourages new investors from coming into the market. I am going to email them about this and see what they say..
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Old 01-10-2012, 07:22 AM   #1017
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Then for example i wanna buy ETFs which are listed under SIP. i do not study finanicials or work in the finance industry. How can i ever clock the 6 SIP trades in the first place? i have to qualify through other brokers with the SGX exams, place 6 trades then come and apply to SCB?

This really discourages new investors from coming into the market. I am going to email them about this and see what they say..
By right, yes. They have an unnecessarily restrictive policy. But in person I was told more than once that "people are responsible for their own declarations"...
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Old 01-10-2012, 09:42 AM   #1018
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It's a Catch-22 situation: you need trading experience to open a trading account, but you can't get trading experience until you open a trading account. I don't know why they have the "minimum 6 trades" rule in the first place...
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Old 01-10-2012, 11:39 AM   #1019
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I have got no trades to my name before. And I was allowed to set up the account. LOL.
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Old 01-10-2012, 12:01 PM   #1020
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I have got no trades to my name before. And I was allowed to set up the account. LOL.
Might be waived if you studied something that's finance related.
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