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

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MikeDirnt78

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chopra im sure you have not done any transfers. there is no transfer fees FYI. dont ask me why. :)
 

Sinkie

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chopra im sure you have not done any trasnfers. there is no transfer fees FYI. dont ask me why.

wah, you are valued client of scb that they absorb your transfer fee??

i checked with cdp, they will charge $10.8 to scb, but how scb charge client is different
 

chopra

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wah, you are valued client of scb that they absorb your transfer fee??

i checked with cdp, they will charge $10.8 to scb, but how scb charge client is different

Usually the receiving brokerage will not charge money. Only delivering side will charge, in this case, CDP. I will call SCB to double check on this.
 

Sinkie

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:eek::eek::eek:
you are right, i haven!! Then i must do it asap. thanks thanks.

U better call scb n ask cos someone told me it's $10 per 1000 shares per counter cap at $100 each, this amount will be deducted from scb saving account and forms are only available from scb branch

Better check first cos Cdp is say $10 per counter but scb say another things

There is definately charges
 

Sinkie

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Usually the receiving brokerage will not charge money. Only delivering side will charge, in this case, CDP. I will call SCB to double check on this.

http://www.cdp.com.sg/fee/index.html

For off market transfer S$10.70 (inclusive of GST) per 1,000 share per counter transferred, up to a maximum of S$107 (inclusive of GST) per counter

but im quite surprised scb waived off the fee for mike78

you are better off selling and buying back with scb
 
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chopra

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Transfer of existing shares from CDP to SCB

I had confirmed with CDP and SCB on this matter.

1. The transfer is $10.70 per counter regardless of the number of shares per counter. This will be charged by CDP. There is NO charge by SCB.

2. The billing however, comes from SCB. That is, CDP will charge it to SCB, which in turn will deduct from your SCB account.

3. Print out both forms (CDP and SCB) below and go to any SCB branch. The bank officer there will assist with the paperwork of both forms.

CDP FORM:
http://www.sgx.com/wps/wcm/connect/3a3a458047ab69bda4c1a5b5eac0cac8/transfer_form.pdf?MOD=AJPERES

SCB FORM:
http://www.mediafire.com/download.php?lddwhzyj74ephgh



Why should we transfer existing shares to SCB?

  • SCB is attractive to both small and big timers. For small timers, you can benefit from the no minimum commission part. Cost-averaging will be cheap. For big timers, see illustration point #2 below.
  • The commission savings using SCB will offset the stock transfer cost from CDP to SCB, this is provided if your selling contract value is <$7150 or >$13375. I will not show how I get the numbers here*.

For illustration purpose,
1. If your selling contract value is $5000, the commissions incurred by other brokerages and SCB will be $25 and $10 respectively. After offsetting the transfer fees, you get to save a few dollars.

2. If your selling contract value is $50000, the commissions incurred by other brokerages and SCB will be $140 and $100 respectively. After offsetting the transfer fees, you get to save quite a fair bit.

*Assumption: Other brokerages charge at 0.28% with a minimum charge of $25. To simplify problem, the calculation does not include clearing fees.
 
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Biogentic

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Hi, i am new to investing in shares.
may i know is it good to signup for this scb trading account if i only want to buy shares to hold? would be good if someone can list down how much would i need to pay if i buy using scb trading account... like comission charges, etc...
me planning to buy UOB,WILMAR and SIA about 100k sgd. thanks!
 

fuschia

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May I know what is a 'market order'? If I use this instead of 'limit order', does it mean my order will be executed based on the lowest asking price of a seller at that point in time?
 

Paul Lee

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My turn to ask a question.

Does the SCB trading platform allows odd lots trading? I'm guessing no but anyone know for sure. MikeDirnt78?
 

MikeDirnt78

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My turn to ask a question.

Does the SCB trading platform allows odd lots trading? I'm guessing no but anyone know for sure. MikeDirnt78?

you cant buy/sell odd lots online. probably must call RM.

to me its no a problem. usually when companies issue bonus shares, there will be a special counter that trades less than board lot. use that opportunity to buy/sell your odd lots. dont need to worry about minimum commission anyway.
 

dreamer75

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Can't buy using CPF thr SCB online trading.

Btw, which to choose when buying shares?

Limit order or market order?
 

fuschia

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Can't buy using CPF thr SCB online trading.

Btw, which to choose when buying shares?

Limit order or market order?
I have been using limit order, which is to exercise my order based on the price I keyed in. Not sure how market order works and am interested to know.
 

takishi

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I have been using limit order, which is to exercise my order based on the price I keyed in. Not sure how market order works and am interested to know.

market order is the current bid or ask price in the market. Securing the stocks is almost immediate.
 

Sinkie

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market order is the current bid or ask price in the market. Securing the stocks is almost immediate.

actually market order is take whatever price the market is offering you, even limit order can be converted into as market order if you queue 1 bid higher to buy or 1 bid lower to sell, the trade will be done immediately too
 

fuschia

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actually market order is take whatever price the market is offering you, even limit order can be converted into as market order if you queue 1 bid higher to buy or 1 bid lower to sell, the trade will be done immediately too
Thanks, takishi and sinkie for your replies.
Assuming the current bid-ask price is $0.95-$0.96. If I want to buy and place a market order, it means that my order will be filled at $0.96? Conversely for sell market order, it will be $0.95?
 

chopra

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Thanks, takishi and sinkie for your replies.
Assuming the current bid-ask price is $0.95-$0.96. If I want to buy and place a market order, it means that my order will be filled at $0.96? Conversely for sell market order, it will be $0.95?

That's right. In a highly volatile market (for singapore, this would typically be opening and closing quarters), it is better to use limit order though, as the bid-ask prices will fluctuate very quickly.
 

fuschia

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That's right. In a highly volatile market (for singapore, this would typically be opening and closing quarters), it is better to use limit order though, as the bid-ask prices will fluctuate very quickly.

Thanks for advice. Will stick to limit order then. Better to know I am getting stocks at the price I want then to get a shock shd there be sudden price fluctuation.
 
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