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

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Asphodeli

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LSE 10% withholding for div
NYSE 30% withholding for div

Hmmm I got 17% deducted from my dividend from a Canada company listed on the NYSE...wonder if Shiny Things or any other experts can comment?
 
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epiphany01

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hi guys..from what i have read and gathered...

when we buy SG shares, it will not be held at CDP and instead be parked under SCB's custodian account. Will the company still be able to see or track us as a shareholder? or they will see SCB nominee acct as the shareholder and they cant filter down to the next level?
 

Perisher

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hi guys..from what i have read and gathered...

when we buy SG shares, it will not be held at CDP and instead be parked under SCB's custodian account. Will the company still be able to see or track us as a shareholder? or they will see SCB nominee acct as the shareholder and they cant filter down to the next level?

If you wanna go for AGM, they can't see, only see scb.
If you are asking about what happen what scb is gone, it's still under your name and belong to you.
 

Perisher

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https://sg.finance.yahoo.com/news/standard-chartered-equities-trading-why-233001013.html

After reading this article, i feel like closing my SCB account.

Any other brokerage (non local ones) offer competitive comm rates?

The author doesn't sound convincing.
Sounds like fear mongering...

Check this link's first image,
http://forums.hardwarezone.com.sg/s...account-singapore-updated-2012-a-3628498.html

A lot of the cash upfront account is held by custodian, including ocbc. If you are so worried the SG government would let banks get away with your money, don't invest. Any bank can fall and cash out the way he described it, in fact, don't put money in the bank, buy all the stocks, keep in cdp?
 

Soul77

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https://sg.finance.yahoo.com/news/standard-chartered-equities-trading-why-233001013.html

After reading this article, i feel like closing my SCB account.

Any other brokerage (non local ones) offer competitive comm rates?

I think. Even in the worse case scenario (ie: SCB default on it's debt obligation / filled chapter 11). You won't lost everything. As what had been said, the stock is stored with other entities.

But you won't get 100% of your money also. Because there will be cost and time spent in liquidating your positions, arranging the counter-parties to release the funds, the different rules applied on the different entity in the different countries, etc.

If assuming SCB just close their trading operations in Singapore, then you won't be affected at all, at most, you only need to pay the transfer fee to CDP for your shares (this may even be covered by SCB)
 

moisuperman

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guys, i received my settlement acc alr, but when i clicked on online trading. it told me to apply now :s22:

how ah?
 

Perisher

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guys, i received my settlement acc alr, but when i clicked on online trading. it told me to apply now :s22:

how ah?

Give it a few days, if by friday not up yet, call scb to ask them. nothing major, don't worry. I last time open this account, they forget this, forget that, I have to go down a few trips to sign more forms. But ultimately worth it.
 

klarklar

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https://sg.finance.yahoo.com/news/standard-chartered-equities-trading-why-233001013.html

After reading this article, i feel like closing my SCB account.

Any other brokerage (non local ones) offer competitive comm rates?

First paragraph of article https://sg.finance.yahoo.com/news/standard-chartered-equities-trading-why-233001013.html
Dollarsandsense.sg shares why using Standard Chartered Bank Singapore’s (SCBS) Online Equities Trading platform could potentially cause you to lose all your stocks should the company folds its operations.

I think someone ought to tell the writer Marcus Chua of Dollars and Sense that if SCB closes the business, our stocks are still intact. Closing a subsidiary business is different from the entire business (parent + all subsidiaries) going bankrupt. If Marcus Chua is worried about SCB, the entire bank, going bankrupt, then all of us have better things to worry about. Worry about your deposits in all banks if SCB goes bust because of the financial contagion effect.

I think it is highly unethical to get the facts wrong and smear a business reputation. When the business is adversely affected because of fear-mongering, jobs can be lost even if the writer is spreading untruths.
 
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havetheveryfun

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First paragraph of article https://sg.finance.yahoo.com/news/standard-chartered-equities-trading-why-233001013.html
Dollarsandsense.sg shares why using Standard Chartered Bank Singapore’s (SCBS) Online Equities Trading platform could potentially cause you to lose all your stocks should the company folds its operations.

I think someone ought to tell the writer Marcus Chua of Dollars and Sense that if SCB closes the business, our stocks are still intact. Closing a subsidiary business is different from the entire business (parent + all subsidiaries) going bankrupt. If Marcus Chua is worried about SCB, the entire bank, going bankrupt, then all of us have better things to worry about. Worry about your deposits in other banks if SCB goes bust because of the financial contagion effect.

I think it is highly unethical to get the facts wrong and smear a business reputation. When the business is adversely affected because of fear-mongering, jobs can be lost even if the writer is spreading untruths.

maybe he has other aims, he is not happy that a lot of stocks are rising due to reduction to 100/lot and no min com from SCB, aka he has missed the boat
 

Sinkie

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maybe he has other aims, he is not happy that a lot of stocks are rising due to reduction to 100/lot and no min com from SCB, aka he has missed the boat

The author doesn't know what's he is writing lah.. Zzzzz
 

klarklar

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maybe he has other aims, he is not happy that a lot of stocks are rising due to reduction to 100/lot and no min com from SCB, aka he has missed the boat

It will be interesting to know if the article was sponsored by SCB's competitors. It is not uncommon for bloggers to write paid articles which by nature has to be biased.
 

klarklar

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The author doesn't know what's he is writing lah.. Zzzzz

That writer should take a leaf from Sinkie, our honest broker. Although Sinkie is SCB's competitor and benefits from SCB sinking, he at least agrees that the writer is writing rubbish. Sinkie, do you think our stocks will be potentially gone if SCB folds the online trading operation?
 
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