*OFFICIAL* Standard Chartered Bank Online Equities Trading

supergans

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Hi. If the SPAC I buy has changed code. How long it take to reflect in the trading account?

So far, my experiences with 4 de-SPAC have been roughly 48 hours. :eek:

Separately, if you can, I would recommend selling before the ticker switch.
 

Steyr69

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Is it not possible to trade OTC stocks in the US on SCB?

I try Buy...but system reflected Im not allowed to do that.
Buy if your share for some reason get delisted from the main markets and drop to OTC, you might be able to Sell.
No chance to verify though. Best check with Trading hotline





Sent from EDMWER app!
 

DevilPlate

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I’m reading that the biggest reason is for the purchase of London listed stocks and the quantum amount of about 7-8k per each purchase.

Am I on the right track ? Thx

Yes and no min fee for priority.
No custodian fees too.

Good for those stocks that u intend to hold many years.
 

DevilPlate

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So far, my experiences with 4 de-SPAC have been roughly 48 hours. :eek:

Separately, if you can, I would recommend selling before the ticker switch.

Ya i think better to sell after DA or merger approved by sec. Sp usually drop after that.
 

~sabaisabai~

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No delay in cash (sgd) transfer to increase purchasing power. I heard tiger has a fee if u use the foreign currency immediately after converting? Ibkr mthly fee is bad for ppl who seldom trade.
Yeah agreed.
So eliminate ibkr lo. Lol
Now new players tiger and moomoo ;)
 

skpuppy

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No delay in cash (sgd) transfer to increase purchasing power. I heard tiger has a fee if u use the foreign currency immediately after converting? Ibkr mthly fee is bad for ppl who seldom trade.

To be honest, is the monthly fees of US$10 charged by IB really a huge issue? Let’s compare:

Scenario 1: Assuming you are a non SC priority client and you don’t have $100k AUM in IB. All currency in US$

Buying 1 share of Amazon
Standard chartered commission - $3093 x 0.25% = $7.73. Since this is lesser than the min, you pay $10.70
IB commission = 1 share x $0.005 = $0.005. Since this is lesser than the min, you pay $1

Assuming you do:
(1) 1 purchase per year - $10.70 vs $120 ($10 platform fees a month)
(2) 12 purchases per year - $128.4 vs $120

The breakeven point is about 11 purchases

Some may say lim bei buy pennies stocks like 2000 shares of nano dimensions at $10 then how?
Standard charted commission = $20000 x 0.25% = $50
IB commission = 2000 x $0.005 = $10
Wow! Cheaper wo! Add in platform fees is $50 (SC) vs $120 (IB)
The breakeven in this case is about 2 trades

Scenario 2: Assuming you are priority customers of SC (AUM$250k) and IB (AUM $100k)
Buying 1 share of Amazon
Standard chartered commission - $3093 x 0.2% = $6.18 (no min)
IB commission = 1 share x $0.005 = $0.005. Pay $1 due to min but no platform fees.
So can see IB is cheaper already right?

If one buy 2000 shares of nano dimensions at $10
Standard charted commission = $20000 x 0.2% = $40
IB commission = 2000 x $0.005 = $10
Is IB more expensive?

To conclude:
(1) SC slightly cheaper if you do less than 12 purchase/ sales a year. To be honest quite rare unless you are a newbie
(2) If you are have AUM of $100k, just go with IB. Much cheaper
(3) Some may argue that I am a priority client at SC and I do monthly investment of $100 hence I only pay $0.2 commission. Lol! In this case, nothing to say if you DCA till like this

Happy to hear from others. Thanks
 

jamesloh777

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Hi all - I tried to buy VWRA in LSE with SC Trading, I put in 20 quantity but was charged usd20.87? I don’t understand this, I thought brokerage fee is 0.25% * 20 * 101.5 which is around $5 but with minimum fee of $10.70 I should only pay $10.70 for commission right? I’m confused, can help to advice?
 

Lex1989

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Hi all - I tried to buy VWRA in LSE with SC Trading, I put in 20 quantity but was charged usd20.87? I don’t understand this, I thought brokerage fee is 0.25% * 20 * 101.5 which is around $5 but with minimum fee of $10.70 I should only pay $10.70 for commission right? I’m confused, can help to advice?

Have to wait for the actual deduction from your settlement account. Sometimes online trading side they tend to charge higher.
 

skpuppy

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This kind of simple thing cannot even charge properly. Just use interactive broker la. Don’t need to thank me for all the savings
 

dngth

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Noob here. I have a SCB trading and settlement acct. How do I transfer my fund into SCB trading acct to purchase LSE ETF?
 

zoneguard

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Hi all - I tried to buy VWRA in LSE with SC Trading, I put in 20 quantity but was charged usd20.87? I don’t understand this, I thought brokerage fee is 0.25% * 20 * 101.5 which is around $5 but with minimum fee of $10.70 I should only pay $10.70 for commission right? I’m confused, can help to advice?

Stamp duty is not charged for ETFs on LSE so the actual settlement amount deducted from your settlement account will be lowered by the stamp duty value.
 

zoneguard

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Noob here. I have a SCB trading and settlement acct. How do I transfer my fund into SCB trading acct to purchase LSE ETF?

You need USD settlement account. You can FAST transfer into SGD settlement account, then use LiveFX to convert SGD into USD.
 

Langstona

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Hi, is there settlement date for SCB when selling? I sold my London stock and the amount did not appear in my GBP settlement account.
 
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