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

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numbers

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for SCB foreign currency settlement account, if i want to open other foreign currency must call up customer service? i cant seem to find that function in the online trading or online banking
 

SpinFire

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for SCB foreign currency settlement account, if i want to open other foreign currency must call up customer service? i cant seem to find that function in the online trading or online banking

Yeah have to go down to the branch to open a foreign currency account. But do note that SCB exchange rate spreads are much larger than other brokerages. Thus although the trading commissions are low, you'll lose out quite a bit in exchange rate.

Initially I wanted to buy US stocks with SCB, but after considering the loss due to exchange rate spreads, it wasn't worth it.
 
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Beastosterone

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Bros, I just went down to SC branch to open a esaver acct and ask for a trading. I filled up 2 forms CDP and brokerage trading account, asked me whether I've any trading experience or related education background. After that, I was given a temp login id.

I login today, Click on the "online trading" and was directed to online trading account opening form where now I need to key the 6 SIP which was not written on the application yesterday.

Do i even need to submit this online form since I submitted the paper form yesterday?
 

aypez1

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Those of you trading US markets, is it possible to open a USD account, deposit cash in it and transfer to your settlement account? Looking to avoid the exchange spread. Also anywhere I can see SCB exchange rates?
 

numbers

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Bros, I just went down to SC branch to open a esaver acct and ask for a trading. I filled up 2 forms CDP and brokerage trading account, asked me whether I've any trading experience or related education background. After that, I was given a temp login id.

I login today, Click on the "online trading" and was directed to online trading account opening form where now I need to key the 6 SIP which was not written on the application yesterday.

Do i even need to submit this online form since I submitted the paper form yesterday?

actually u can just put any sip can liao, bluff also can
 

tech_oasis

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- your shares are with the custodian. Not under your CDP. No AGM whatsoever.
- there are a few stocks that offer 100 too like Nikko AM STI ETF, Singtel 100 etc...
- no hidden fees. Those fees are seen at the point pf placing your order. Dividends are paid fairly to your securities settlement acc usually 1 day later than those under CDP.

If held under custodian what happens when there is dilution of stock or … can only sit on whatever stocks holding and not exercise any choice?

:s11:
 

SpinFire

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Crap stanchart, cannot log in again. ..

You can raise feedback to them

https://forms.online.standardcharte...gapore/feedback_form/index.html?FBtype=SG_OCF

I submitted a feedback to them last week, they called me back within the day and told me they're consolidating data from customers. So if more people feedback to them about their online trading interface, they'll be more inclined to improve their system. (you know how businesses work, if too few people complain, they'll not bother about it)
 

Mancunian2

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You can raise feedback to them

https://forms.online.standardcharte...gapore/feedback_form/index.html?FBtype=SG_OCF

I submitted a feedback to them last week, they called me back within the day and told me they're consolidating data from customers. So if more people feedback to them about their online trading interface, they'll be more inclined to improve their system. (you know how businesses work, if too few people complain, they'll not bother about it)

thie online trading portal is still the same as when it was launched 3-4 years ago

no change how to have improvement?

( I sent a complaint email once, no reply until now)
 

QNH1013

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Those of you trading US markets, is it possible to open a USD account, deposit cash in it and transfer to your settlement account? Looking to avoid the exchange spread. Also anywhere I can see SCB exchange rates?

Yes you can. However they have a minimum deposit for foreign accounts (for USD i think its USD2000 for a savings acct. current acct not sure. Might be 1000) if not they would charge a monthly fee.

You can see the SCB exchange rates when you have an account with them. Not sure how else you can see them.
 

myth_shenhua

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Hello guys!! Just got my SCB trading account after months trading on Kayhian

I have some questions i hope you all can enlighten me on!

I only have esavers, securities settlement, securities trading account. For me to pay off when i purchase stocks, it is charged from securites settlement account right? So I bank in a cheque to my securities settlement account right?

Also, to purchase stocks in other markets, am I able to pay off using SGD or do I have to create another settlement account?

Lastly, how do I withdraw cash without incurring any charges? Apparently, I will be charged 5SGD everytime I withdraw from esavers acc.
(I was told the withdrawal procedure will be like -> transfer from securities settlement account to esaver acc -> go bank and withdraw at front desk)
 

Bedokian

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Hello guys!! Just got my SCB trading account after months trading on Kayhian

I have some questions i hope you all can enlighten me on!

I only have esavers, securities settlement, securities trading account. For me to pay off when i purchase stocks, it is charged from securites settlement account right? So I bank in a cheque to my securities settlement account right?

Also, to purchase stocks in other markets, am I able to pay off using SGD or do I have to create another settlement account?

Lastly, how do I withdraw cash without incurring any charges? Apparently, I will be charged 5SGD everytime I withdraw from esavers acc.
(I was told the withdrawal procedure will be like -> transfer from securities settlement account to esaver acc -> go bank and withdraw at front desk)

Usually I will credit into my eSavers account, and then transfer to the relevant securities settlement account. I don't think you can credit directly into the securities settlement account (correct me if I am wrong).

When you transfer to a non SGD securities settlement account, you will be shown the exchange rate and the amount in foreign currency in SGD equivalent before confirming the transfer.

And lastly, use the FAST interbank transfer instead. No $5 charge.
 
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myth_shenhua

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Usually I will credit into my eSavers account, and then transfer to the relevant securities settlement account. I don't think you can credit directly into the securities settlement account (correct me if I am wrong).

When you transfer to a non SGD securities settlement account, you will be shown the exchange rate and the amount in foreign currency in SGD equivalent before confirming the transfer.

And lastly, use the FAST interbank transfer instead. No $5 charge.

hey thanks for the reply !

Also, what do you mean by FAST interbank transfer?

and with regards to non SGD securities acc, I have to create settlement accounts with SCB for the difference currencies i wanna trade in?
 

Bedokian

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and with regards to non SGD securities acc, I have to create settlement accounts with SCB for the difference currencies i wanna trade in?

Yes, and you have to go down to SCB to request these settlement accounts in person.
 

VictorvonDoom

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noob question, if i transfer money to the settlement account, will it earn interest like the bonus saver account?

tia
 

sgbanking

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noob question, if i transfer money to the settlement account, will it earn interest like the bonus saver account?

tia

yes and no. cash in settlement account will earn you interest, but it's not as high as bonus saver etc. i think it's the prevailing interest rate for a normal saving account.
 
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