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

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lushiris

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not sure if it's been discussed before but any idea how does SCB calculate the final cost?

1) tried to buy 2000 shares @ $3.39 = $6780

2) website show final cost = $6795.76

3) got $6800 in settlement acct yet my bid is still rejected

4) called up CSO say need ~$6887 cos the 7% gst and trading system buffer requirement of ~1% not reflected

i forgot to ask how they came up with $6887 =(
 

Beh-Hawk

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Hi, anyone knows how to sell the rights for Kep Infra Tr fka CIT using SCB :s11:

Thanks
 

Beh-Hawk

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EDIT: The rights are non-tradable on SGX, therefore, cannot be sold

understood. its a private offering...thanks!

i would then end up with odd lots if i take up the offer. can i get rid of the odd lots using SCB? thanks again
 

Asphodeli

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understood. its a private offering...thanks!

i would then end up with odd lots if i take up the offer. can i get rid of the odd lots using SCB? thanks again
Yes, you can (a) buy the one share/lot counter to round off, (b) oversubscribe to the rights issue, or (c) transfer to CDP and sell on the odd lot market via POEMS or CIMB.

I think the cheapest way is to oversubscribe and then sell

Sent from Sony D5833 using GAGT
 

hyperbole

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not sure if it's been discussed before but any idea how does SCB calculate the final cost?

1) tried to buy 2000 shares @ $3.39 = $6780

2) website show final cost = $6795.76

3) got $6800 in settlement acct yet my bid is still rejected

4) called up CSO say need ~$6887 cos the 7% gst and trading system buffer requirement of ~1% not reflected

i forgot to ask how they came up with $6887 =(

I didn't know got buffer. No wonder I always transfer exact not enough even after I included the gst
 

deadjr

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Inquiries

Hi guys I just have some questions on hand. I have just started a SCB trading account about 2 weeks back and have tried to purchase some shares from starhub/singtel. I have some questions in mind and hope some experienced guys here can help me with it.

so i bought 500 Starhub shares @ 4.02 ($2010, on 03/06/2015) and 500 Singtel shares @ 4.14 ($2070, on 05/06/2015) I have deposited slightly more than enough money in my SECURITIES SETTLEMENT ACCOUNT just for like the fees and all. To be exact I have the amount I have in that account is $4135.

Here is the questions:
1) both orders has been filled which I assumed I have got them at the price I wanted but the money (shares+fees) weren't deducted from the securities settlement account. Is it supposed to be that way? I just find it quite hard to know exactly what is the balance I have left in the account. I am guessing it will take a few days for them to process but that is just a guess.

Thanks in advance to anyone who have helped :)
 

Perisher

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Hi guys I just have some questions on hand. I have just started a SCB trading account about 2 weeks back and have tried to purchase some shares from starhub/singtel. I have some questions in mind and hope some experienced guys here can help me with it.

so i bought 500 Starhub shares @ 4.02 ($2010, on 03/06/2015) and 500 Singtel shares @ 4.14 ($2070, on 05/06/2015) I have deposited slightly more than enough money in my SECURITIES SETTLEMENT ACCOUNT just for like the fees and all. To be exact I have the amount I have in that account is $4135.

Here is the questions:
1) both orders has been filled which I assumed I have got them at the price I wanted but the money (shares+fees) weren't deducted from the securities settlement account. Is it supposed to be that way? I just find it quite hard to know exactly what is the balance I have left in the account. I am guessing it will take a few days for them to process but that is just a guess.

Thanks in advance to anyone who have helped :)

It's exactly what you thought. It takes 3 days to reflect in your SSA. The trade is immediate but the numbers update later. So if you sell, although you won't see any changes in your SSA, you can use the $$ from the sold shares immediately.

There's a refresh button on the right that shows your current purchasing power when you click on place a trade. I find it to be inaccurate though.
 

ussr_1991

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I am pretty sure this question has asked before. I hope there is a sticky to it:

1) What is the difference between a custodian account (SCB) VS a normal CDP (Other brokers)?

Can I:

- Buy SBS Transit shareholder pass if I buy SBS Transit Ltd (S61.SI) via SCB

- Join AGM of relevant companies that I brought through SCB

2) What would happened if I die while holding a loss making stocks?

For example: I buy X stock at 0.40 now and the price has since plummeted without recovery. 5 years later I died for whatever reason, but this X stock trades at 0.20 or lagi lower

Do I need to sell the stock (By the one who is executing my assets / will) and thus realize my paper loss before my dependents can take my asset?


3) Any other reason why a normal CDP is better than SCB, other than not being able to buy Singapore Savings Bond and participate in IPO?
 

disavowed

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I am pretty sure this question has asked before. I hope there is a sticky to it:

1) What is the difference between a custodian account (SCB) VS a normal CDP (Other brokers)?

Can I:

- Buy SBS Transit shareholder pass if I buy SBS Transit Ltd (S61.SI) via SCB

- Join AGM of relevant companies that I brought through SCB

2) What would happened if I die while holding a loss making stocks?

For example: I buy X stock at 0.40 now and the price has since plummeted without recovery. 5 years later I died for whatever reason, but this X stock trades at 0.20 or lagi lower

Do I need to sell the stock (By the one who is executing my assets / will) and thus realize my paper loss before my dependents can take my asset?


3) Any other reason why a normal CDP is better than SCB, other than not being able to buy Singapore Savings Bond and participate in IPO?

Can i add one more:

If i buy a ipo/bond through atm and it goes to my cdp, when i want to sell how do i do it?
 

Sinkie

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Can i add one more:

If i buy a ipo/bond through atm and it goes to my cdp, when i want to sell how do i do it?

Transfer into scb and sell

No minimun commission ftw
 

Bedokian

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I am pretty sure this question has asked before. I hope there is a sticky to it:

1) What is the difference between a custodian account (SCB) VS a normal CDP (Other brokers)?

Can I:

- Buy SBS Transit shareholder pass if I buy SBS Transit Ltd (S61.SI) via SCB

- Join AGM of relevant companies that I brought through SCB

2) What would happened if I die while holding a loss making stocks?

For example: I buy X stock at 0.40 now and the price has since plummeted without recovery. 5 years later I died for whatever reason, but this X stock trades at 0.20 or lagi lower

Do I need to sell the stock (By the one who is executing my assets / will) and thus realize my paper loss before my dependents can take my asset?


3) Any other reason why a normal CDP is better than SCB, other than not being able to buy Singapore Savings Bond and participate in IPO?

1) Note that most brokerages offer custodian as well, not just SCB. If you search through the forums I did come out with a "goods in warehouse" analogy on CDP and custodian. But generally there is not much difference (trivia - CDP is viewed as a custodian).

2) Shares are viewed as assets and could not be forced sold unless it is stated explicitly in your will. If no will is present, then intestacy laws will apply and the shares will be passed down lock stock and barrel. In summary they would not be sold.

3) More or less that is about it. Of course you would have greater control when special actions occur like rights, acceptance of offers, etc.

As a ballpark, I use CDP to hold local shares and REITs and SCB for ETFs and foreign shares.
 

Sinkie

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to add on, cpfis account can open be opened at local banks. dbs, uob and ocbc.

Dbs or Ocbc is most ideal bank to open cpfis account

If say one day, u forgotten to set your settlement mode as Cpf when you sell, and ended up as a short position in cash on t+1

Do not panic

1) Ask your broker you wan to switch the cash trade into Cpf trade as soon as possible
2) run down to the brokerage with cash in hand
- UOB cpfis agent charges $32
- DBS cpf agent or ocbc cpf agent charges $27
- broker don't charge at all (some will purposely amend and put as offline trade)
3) your broker will pass u a form to sign, then he will fax the form to your Cpf agent to request for amendment into Cpf. Once signature is verified by both broker n Cpf agent, amend my will go thru.
4) make admin payment charged by cpf agent to brokerage cashier

Gaodim!!

Some brokers will usually tell client to wait for Cdp buy back so he can earn 2x sell comm + 1x buy comm and also less paper work.
 

Keverus

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great info!

also, pls just open ur cpfis account via i-banking! saves you the time!
 

koreanlover

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Anybody knows what happens if I modify my order to add the quantity of shares (the price remains the same) ?

Will the whole order be moved to the back of the queue or will only the additional shares be pushed to the back of the queue ?
 

Sinkie

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Anybody knows what happens if I modify my order to add the quantity of shares (the price remains the same) ?

Will the whole order be moved to the back of the queue or will only the additional shares be pushed to the back of the queue ?

Add qty to existing order will move that existing order back = as good as cxl queue and put in new order

Reduce qty to existing order will keep the existing order queue priority
 
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