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

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MikeDirnt78

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But the "Pricing Guide" still says Min daily average for e$aver is $0.

They (SCB) want to have this kind of implementation/roll out, please jolly well do a update of the documentation as well. Don't half here and there when your T&C don't match !

SCB is right.

the changes take effect from 1/Aug. so current pricing guide is with reference to current terms.
 

roz_sid

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Hi any idea when u buy stock how long will it take for the amt in settlement acct to be deducted and wen u sell how long will it take for settlement acct to reflect the added amt?
 

linxiaobei

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Hi any idea when u buy stock how long will it take for the amt in settlement acct to be deducted and wen u sell how long will it take for settlement acct to reflect the added amt?
3 days but if you need to buy more stocks but don't know how much money left, you can check using purchasing power on the right side of the platform..

Sent from The Sun using GAGT
 

MilleniumX

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A couple of questions using SCB's trading account

1) If I want to trade ETF, but a lot of ETFs listed on SGX are USD-denominated. What's the best way to transfer USD into the SCB account?

Should i use another platform such as IB to do the FX, then transfer the USD into an SCB USD account?

2) And then I need to transfer the USD from this SCB USD account into the USD settlements account right? Is this the right procedure?

3) When trading SGD stocks, I saw on recent threads the use of Dash saver due to the min charge on eSaver. Am I right to say that Dash saver has better interest rates and no min charge (at least for now)? So its a no brainer to transfer. Any downside I should consider?

Thanks!
 

limster

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A couple of questions using SCB's trading account

Should i use another platform such as IB to do the FX, then transfer the USD into an SCB USD account?

Serious question. If you already have an IB account, why aren't you trading ETFs using IB? I find it hard to believe that the ETFs available on IB are not good enough and you die-die must trade SGX-listed US$ ETF.
 

hyperbole

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Dash interest rates 0.5% flat. Esaver is based on fresh funds. So whether the rates are better is dependent on whether your funds are fresh.

If you just need an account to transfer to your settlement account, go for dash cos no minimum sum
 

MilleniumX

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Serious question. If you already have an IB account, why aren't you trading ETFs using IB? I find it hard to believe that the ETFs available on IB are not good enough and you die-die must trade SGX-listed US$ ETF.

Good point actually, I never thought about it that way. Was just looking at SGX stuffs. Any additional things I should be aware of if I trade US ETFs using IB? higher charges, custodian fee, dividend fees?
 

Perisher

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Good point actually, I never thought about it that way. Was just looking at SGX stuffs. Any additional things I should be aware of if I trade US ETFs using IB? higher charges, custodian fee, dividend fees?

Not really higher charges but I think they have a min of $1 comms, and a $10 monthly min fee which can be deducted from the comms you pay. No dividend fees. IMO, it's the best if you are buying anything outside of SGX and trade frequently. If 1 month you only buy a few times and each amount is lesser than $1000, then perhaps SCB is better.

Also, just to note, SCB practises round down of fractional shares so it's best to ALWAYS take cash for dividends. Unless you are damn sure you know what you are doing and there is no left over $$.
 

MilleniumX

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Not really higher charges but I think they have a min of $1 comms, and a $10 monthly min fee which can be deducted from the comms you pay. No dividend fees. IMO, it's the best if you are buying anything outside of SGX and trade frequently. If 1 month you only buy a few times and each amount is lesser than $1000, then perhaps SCB is better.

Also, just to note, SCB practises round down of fractional shares so it's best to ALWAYS take cash for dividends. Unless you are damn sure you know what you are doing and there is no left over $$.

But now the USD so strong, trade USD-denominated ETFs also not sure where FX will move. Then the list of SGD-denominated ones are so little.
 

Perisher

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But now the USD so strong, trade USD-denominated ETFs also not sure where FX will move. Then the list of SGD-denominated ones are so little.

US ETF expense ratio is much lower, best to buy there.
Only buy SG ETF if it's based in SG, example A35, ES3, G3B.

Although USD is strong/weak, remember the returns you get are also in USD, so if it's strong, you get strong returns, if it's weak, you get to exchange at cheaper rate. Best is exchange at cheap rate and get strong returns but that's not always possible. Anyway, USD will slowly move up as interest rate looms. MAS might not wanna keep up with USD as it will mean SGD's export become expensive to other countries.
 

Immortal

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Been 12 days since I applied for the Dash saver account. Still no SMS / email notification etc.

What's this...
 

chowck

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This question could have been answered before but I couldn't find it.

I just received a dividend chq in USD from SGX. Think of banking directly into SCB USD settlement a/c. On 2nd thought, don't think that is possible as SCB would still require us to deposit into the esavers a/c & trf manually to USD settlement a/c at their prevailing rates.

....unless we have a USD current a/c in SCB but even then, don't think SCB allow us to trf direct from this USD current into USD settlement, right?
 

limster

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This question could have been answered before but I couldn't find it.

I just received a dividend chq in USD from SGX. Think of banking directly into SCB USD settlement a/c. On 2nd thought, don't think that is possible as SCB would still require us to deposit into the esavers a/c & trf manually to USD settlement a/c at their prevailing rates.

....unless we have a USD current a/c in SCB but even then, don't think SCB allow us to trf direct from this USD current into USD settlement, right?

Yes you can transfer from SCB US$ High Yield account to US$ SSA. Its been discussed earlier in this thread.
 

chowck

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Thanks limster.

Which means I have to open a new a/c (USD high yield).

anyway, the dividend amount is very small & don't justify the trouble of opening new a/c. I'll just bank into the esavers a/c in this case.:o
 

LX2010

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To the guys who created a dash pay acc and are thus unable to create a dash easy acc, you can call singtel to cancel your mwallet acc (mwallet is created when you create a dashpay acc) and apply for dash easy at the dash website afterwards.

You can't apply for a dash easy online after you have a mwallet/dashpay as the system probably checks for the existence of the mwallet/dashpay acc before allowing you to proceed.

This was what I did to circumvent the problem. Should be fine as I have just received my dash easy atm card.

Don't have to go down to SCB if you do it this way.
 
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Asphodeli

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Called up SCB regarding EBAY stock split...apparently they dunno what's going on and they don't know why I didn't recieve PYPL stock, so they gonna give me a callback tomorrow. :s8:
 

linxiaobei

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To the guys who created a dash pay acc and are thus unable to create a dash easy acc, you can call singtel to cancel your mwallet acc (mwallet is created when you create a dashpay acc) and apply for dash easy at the dash website afterwards.

You can't apply for a dash easy online after you have a mwallet/dashpay as the system probably checks for the existence of the mwallet/dashpay acc before allowing you to proceed.

This was what I did to circumvent the problem. Should be fine as I have just received my dash easy atm card.

Don't have to go down to SCB if you do it this way.
Thanks dude. SCB called me about this issue too and they going to cancel mwallet and I will be applying at the website within these few days.

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