*OFFICIAL* Standard Chartered Bank Online Equities Trading

[havetheveryfun]

Hi I need some advise here.

I just had my SCB Online trading a/c activated .

Basically I am seeing 4 a/c:

1) e-saver
2) securities settlement account
3) fcy securities settlement account
4)securities trading account


When I open e-saver , I loaded $2k SGD in. For now, if I were to buy some overseas shares say IWDA or stocks, where do I transfer the $2k from my e-saver account to? can I transfer directly to (4) or I must transfer to (2) or (3)?

you cant transfer to (4).

whatever stock you want to trade, check what the market currency is, then transfer to the respective settlement account.

my guess is your fcy securities settlement account should be in USD (it is written at top right of the box - 0.00 USD). so some people have more than 1 fcy securities settlement account but in different currencies.

so if you wan to trade sg stocks, then transfer to (2), if you want to trade stocks that are in US currency, then transfer to (3)

 

[Steyr69]

Finally I got response from SCB officer, got my rights issue settled, just keep calling.

Congrats!!

Sent from Xiaomi MI A1 using GAGT

 

[mango_car]

you cant transfer to (4).

whatever stock you want to trade, check what the market currency is, then transfer to the respective settlement account.

my guess is your fcy securities settlement account should be in USD (it is written at top right of the box - 0.00 USD). so some people have more than 1 fcy securities settlement account but in different currencies.

so if you wan to trade sg stocks, then transfer to (2), if you want to trade stocks that are in US currency, then transfer to (3)

Thank you ! Wanted to buy IWDA ETF. but I think missed the boat.

 

[wutawa]

I've both DBS Online Trading ( their custodian under DBS Treasures ) and also this SCB Online Trading.

On DBS, for rights, it will be listed on your wealth mgmt account to be traded, and also corporate action section to exercise those rights or subscribe in excess. All done online and hassle free.

On SCB, only the rights are made available for trading online. To exercise those rights, not found in corporate action. Emailed my RM and he told me to contact the 1800 number that I was put on hold for more than 30mins....Gave up.

Suddenly got sms again....note I didn't attempt to call them at anytime.
We understand you may have been trying to contact us at +6562425333 to submit your instructions on the recent SIA and SIA MCB rights issuance. We apologize for the long wait time you may have encountered.
If you are a Priority Banking customer, please note that you can also submit your instructions to your Priority Banking Relationship Manager. We apologize for the inconvenience caused.

Sent from Xiaomi MI A1 using GAGT

Thanks for sharing. Our fren here said he received an sms encouraging him to contact his rm. scb kns.

 

[FuNKySoULyBrO]

Thanks for sharing. Our fren here said he received an sms encouraging him to contact his rm. scb so rubbish.

Yah, I also received the sms today to ask me to contact my RM.....

But this is what my RM sent me when I emailed him on the SIA rights issue earlier last week.

Hi Mr XXX,

Thank you so much for the email.
Hope everything is well at your end.
For the rights exercise, I need your help to call Equity Hotline to excise it.
The contact number is: 1800 242 5333
Warm Regards,

 

[Steyr69]

Taiji here and there....

Sent from Xiaomi MI A1 using GAGT

 

[mango_car]

you cant transfer to (4).

whatever stock you want to trade, check what the market currency is, then transfer to the respective settlement account.

my guess is your fcy securities settlement account should be in USD (it is written at top right of the box - 0.00 USD). so some people have more than 1 fcy securities settlement account but in different currencies.

so if you wan to trade sg stocks, then transfer to (2), if you want to trade stocks that are in US currency, then transfer to (3)

if let say I haven't decide its time to enter. but can I transfer from e-saver into my fcy securities settlement account first to standby? but when that happens, will it convert base on current fx rate or it will not convert until the point of settlement?

 

[Oppa380]

if let say I haven't decide its time to enter. but can I transfer from e-saver into my fcy securities settlement account first to standby? but when that happens, will it convert base on current fx rate or it will not convert until the point of settlement?

Once transfer, converted

 

[xXxJavierxXx]

Waited 1hour 45mins on the scb helpline to give instructions to subscribe to SIA rights. That's today morning 10am.

 

[mango_car]

Once transfer, converted

so in other words, if I transfer 5k sgd from my esaver to fcy settlement and back again without doing anything, I will not get back 5k sgd right?

that's what you meant by it gets converted once transfer, yes?

 

[Oppa380]

so in other words, if I transfer 5k sgd from my esaver to fcy settlement and back again without doing anything, I will not get back 5k sgd right?

that's what you meant by it gets converted once transfer, yes?

You are charged when you transfer sgd to usd
And one more time when transfer usd back to sgd
Yes you won’t get back $5000

 

[Jacqueline.]

hey guys, silly question.

i just sold a stock but i cant find the money--> where does the money get deposited into?
is it immediate or do i have to wait T+3 days?

 

[Lex1989]

hey guys, silly question.

i just sold a stock but i cant find the money--> where does the money get deposited into?
is it immediate or do i have to wait T+3 days?

T+3 days

But when you buy, they take it immediately, yet T+3 to reflect on your account.

 

[Steyr69]

Not sure whether it is T + 3. For me, seemed like is T + 2. Monday trade done, $ in or out on Wed.

There is a thing call Purchasing Power....this one is reflected on the spot.
If just sold a stock, the $ will be reflected in the Purchasing Power....even if Settlement account shows not enough $.
If want to Buy stock, still possible.

Sent from Xiaomi MI A1 using GAGT

 

[wutawa]

hey guys, silly question.

i just sold a stock but i cant find the money--> where does the money get deposited into?
is it immediate or do i have to wait T+3 days?

This is impt, not silly. U will receive a contract note tmr morning. Chk the settlement date to know when the money will be credited into your respective currency settlement acct.

T+3 days

But when you buy, they take it immediately, yet T+3 to reflect on your account.

This statement is false. Debit of money will only happen on settlement date, similar to selling. However, the updating of the purchasing power is immediate, creating a "locked" effect on the trading amount in the settlement acct.

 

[mango_car]

silly question here. am planning to invest $1k sgd every month into iwda etf. is scb online trading better or IBKR?

 

[Oppa380]

silly question here. am planning to invest $1k sgd every month into iwda etf. is scb online trading better or IBKR?

Ibkr better with spot rates but got monthly fees irrc but no min commissions
Scb got 0.8% forex charges but no monthly fees and min commissions

https://forums.hardwarezone.com.sg/...red-sc-investing-internationally-4342929.html

2013 thread but not sure if anything changed now

 

[limster]

Ibkr better with spot rates but got monthly fees irrc but no min commissions
Scb got 0.8% forex charges but no monthly fees and min commissions

https://forums.hardwarezone.com.sg/...red-sc-investing-internationally-4342929.html

2013 thread but not sure if anything changed now

Anyone who is actually using SCB now will know what is the forex charge (just login to see the SCB rate and use google to check the spot rate), there's no need to go back to 2013 thread.

 

[wutawa]

Anyone who is actually using SCB now will know what is the forex charge (just login to see the SCB rate and use google to check the spot rate), there's no need to go back to 2013 thread.

I always calc the forex charge before exchanging because i found out scb very sneaky about it.

 

[Oppa380]

Anyone who is actually using SCB now will know what is the forex charge (just login to see the SCB rate and use google to check the spot rate), there's no need to go back to 2013 thread.

No worries
The thread is for him to compare ibkr and scb
Not sure if I covered everything