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

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Old 21-06-2011, 09:44 AM   #91
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Eh, ask yall somemore

Current promo 1st 2 trades free for everyone right?
Then just now I test test I click buy, but still come out showing comm 0.2% and sgx clearing fee 0.04%
So what? After you click liao, trade went thru then they return you back the comm for these 1st 2 trades?
I received a mail from SCB and yes, current promo for 1st 2 trades are free but only on the brokerage fees. I think we still need to pay for the comm 0.2% and sgx clearing fee 0.04% (anyone can confirm?).

By the way, the bank will refund the brokerage fees only after the promo period (after 15 July 2011).
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Old 21-06-2011, 10:56 AM   #92
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eh thanks thanks

one more thing
since the trading platform is part of the IB
then if u afk for too long then the IB auto logs out, then how?
boh bian, balek log in again? Quite mah fun hor?
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Old 21-06-2011, 11:48 AM   #93
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Can I leave the Saving Account with $0 balance. If I purchase online shares, I will use my OCBC account to pay for it.

I usually pay my DMG broker either from my DBS link saving account or my OCBC saving account.

Chances I know is Not for SCB. Think they also want me to deposit. Anyone can verify?
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Old 21-06-2011, 11:50 AM   #94
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Can I leave the Saving Account with $0 balance. If I purchase online shares, I will use my OCBC account to pay for it.

I usually pay my DMG broker either from my DBS link saving account or my OCBC saving account.

Chances I know is Not for SCB. Think they also want me to deposit. Anyone can verify?
pls keep at least $1 in E-saver will do..

for SCB trading only can pay from the settlement acc.
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Old 21-06-2011, 03:16 PM   #95
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eh ask yall
so say you tio the buy trade liao, then your trading securities will see the buy amount
no need to do anything, just let the securities settlement a/c auto pay for the buy trade right?
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Old 21-06-2011, 04:24 PM   #96
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Talking

eh ask yall
so say you tio the buy trade liao, then your trading securities will see the buy amount
no need to do anything, just let the securities settlement a/c auto pay for the buy trade right?
I doubt so. But I dunno.

Unless they want take on additional responsibility and an extra step. If they/their system kena deduct wrongly, ho seh liao. Another saga goes to newspaper...
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Old 21-06-2011, 07:27 PM   #97
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Can some1 confirm?

So just like the other conventional tradin portals, by 5:16 if my buy/sell queues din go thru i can leave them alone (they will auto terminate) no need to cancel these queues myself hor?
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Old 21-06-2011, 07:59 PM   #98
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The attractiveness of this SCB scheme is the NO MINIMUM COMMISSION.

- How they make money is where your money is to get you to dump your money into their bank so that funds which you did not use to purchase shares can be invested by them.

- The low entry barrier scoops up the mass market and also those who do a lot of intra day trading. Imagine the money these people can save on.

- SCB holds the shares, not CDP. You will need to buy and sell only through SCB.

Of course, there will be concerns by many because it looks too good to be true compared to the market standard.
However let's not forget, in foreign countries, this is already very common. And today we are not talking about ABC bank or XYZ bank. If its citibank rolling this out, I may have some concerns, but not Standard Chartered.

Their marketing campaign is weak but that's the irony. They got a lot of people interested with questions so that people actually go down to their bank branches to find out more. That is where this bank suddenly improves its network arm.

So eventually I must say, NO MIN COMMISSION might be an industry standard in time to come. Don't write it out.
this no minimum commision thing, is it a promotion or will it end on a certain date?
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Old 21-06-2011, 08:15 PM   #99
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so must i transfer $ into the Securities account, before i can start purchasing the shares through the platform?
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Old 21-06-2011, 08:17 PM   #100
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this no minimum commision thing, is it a promotion or will it end on a certain date?
there is no end date.
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Old 21-06-2011, 08:18 PM   #101
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Can some1 confirm?

So just like the other conventional tradin portals, by 5:16 if my buy/sell queues din go thru i can leave them alone (they will auto terminate) no need to cancel these queues myself hor?

TAKE NOTE PURCHASING POWER WILL BE DEDUCT FOR ALL THE QUEUE BID AMT.

Eg you have 10K in settlement and you will have 10K purchasing power.

you queue 3K.
you queue another 2K
your final purchasing power is 5K only.
it will auto Expired and you will get below email.



End of the day, all unfil queue will be auto expired and you will get below email.


Expired
==========================
Order Side: Buy
Order Quantity: 5000 shares
Stock Code: xxxx
Stock Name: xxxxxxxxxxx
Filled Qty: 0 shares
Avg Filled Price: SGD0.00
Outstanding Qty: 0 shares
Ref: xxxxx
Exe Qty: 0 shares
Exe Price: SGD0.00



when it is filled, you will get below email.

Filled
==========================
Order Side: Buy
Order Quantity: 1000 shares
Stock Code: XXX
Stock Name: xxxxxxxxxxxxxxxxx
Filled Qty: 1000 shares
Avg Filled Price: SGDX.XX
Outstanding Qty: 0 shares
Ref: XXXXXXXXXXXXXX
Exe Qty: 1000 shares
Exe Price: SGDX.XX


when u cancel from the queue, you will get below email.

Cancelled
==========================
Order Side: Buy
Order Quantity: 1000 shares
Stock Code: XXX
Stock Name: XXXXXXXXXXXXX
Filled Qty: 0 shares
Avg Filled Price: SGD0.00
Outstanding Qty: 0 shares
Ref: XXXXXXXXXXXXXX
Exe Qty: 0 shares
Exe Price: SGD0.00


when you purchase amt more than purchasing power, you will get below

Rejected
==========================
Order Side: Buy
Order Quantity: 1000 shares
Stock Code: XXX
Stock Name: XXXXXXXXXX
Filled Qty: 0 shares
Avg Filled Price: SGD0.00
Outstanding Qty: 0 shares
Ref: XXXXXXXXXX
Exe Qty: 0 shares
Exe Price: SGD0.00

Last edited by steventay; 21-06-2011 at 08:27 PM..
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Old 21-06-2011, 08:19 PM   #102
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so must i transfer $ into the Securities account, before i can start purchasing the shares through the platform?
yes. you must transfer the amt to the settlement account so that it will be the purchasing power amt in order to purchase.

e-saver just need put $1 can liao.
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Old 21-06-2011, 09:22 PM   #103
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yes. you must transfer the amt to the settlement account so that it will be the purchasing power amt in order to purchase.

e-saver just need put $1 can liao.
Is it a market maker or dma model and what's the executional speed?
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Old 21-06-2011, 09:24 PM   #104
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Is it a market maker or dma model and what's the executional speed?
it is direct to SGX market... when u queue, u r queue in SGX. it is like other brokerage film just that your shares is place in SCB and not CDP.

SCB is not market maker or DMA
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Old 21-06-2011, 10:10 PM   #105
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it is direct to SGX market... when u queue, u r queue in SGX. it is like other brokerage film just that your shares is place in SCB and not CDP.

SCB is not market maker or DMA
Then it's not that bad afterall..
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