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

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Perisher

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how do i buy stocks denominated in other currencies? do i move some money to that settlement account (eg GBP) & they will convert the currency from SGD to GBP for me?

Yup, the correct currency account is important.
Make sure the stock U wanna buy is denominated in that currency you exchanged before you buy.
 

Weaboo

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Yup, the correct currency account is important.
Make sure the stock U wanna buy is denominated in that currency you exchanged before you buy.

thanks. where can i see the conversion rates + any xtra fees for conversion?
 

Asphodeli

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thanks. where can i see the conversion rates + any xtra fees for conversion?
Fees are included into the FX rate through the spread (1% for USD, 1.5% for any other currency). When you transfer, they will quote you the rate before you confirm the exchange. Just press cancel or confirm on that screen.

Btw for SCB, you can only do FX during office hours till 8pm, excluding public holiday and weekend.

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af7680

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yesterday I transferred some cash to settlement account from esaver account to buy stocks but due to price keeping going up, attempt was failed.

will it be possible to transfer back the amount to esaver from settlement account?

TIA:)
 

Asphodeli

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yesterday I transferred some cash to settlement account from esaver account to buy stocks but due to price keeping going up, attempt was failed.

will it be possible to transfer back the amount to esaver from settlement account?

TIA:)

Yes of course. You can leave it in there also for interest but I'm not sure what's the rate. Do note that only SGD settlement account has interest, though.

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Thememberboi

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Hi guys, sorry to bother you guys.

Just a question to clarify:

Since i'm below 21, i can't have a SCB account yet. So i am contemplating to get the DBS Vickers Young Investor Account or OCBC's Young Investor. It seems like OCBC's one is a wiser choice. True?
 

Perisher

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Hi guys, sorry to bother you guys.

Just a question to clarify:

Since i'm below 21, i can't have a SCB account yet. So i am contemplating to get the DBS Vickers Young Investor Account or OCBC's Young Investor. It seems like OCBC's one is a wiser choice. True?

Most people in this thread has a SCB account so they might not know much about the young investor accounts.

Perhaps you get more answer in the following 2 threads.
http://deluxeforums.hardwarezone.co...account-singapore-updated-2015-a-3628498.html
http://deluxeforums.hardwarezone.co...ung-investor-discussion-thread-5179225-2.html

Or you can start a new thread.:)
 

Thememberboi

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kehyi4

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Yes of course. You can leave it in there also for interest but I'm not sure what's the rate. Do note that only SGD settlement account has interest, though.

oh, i didn't know the Securities Settlement Account is interest bearing ... Does anyone know what the interest rate is?
 

crystalnox

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oh, i didn't know the Securities Settlement Account is interest bearing ... Does anyone know what the interest rate is?
The lowest possible interest rate, don't bother leaving money in there.
 

dexboi

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I just got slapped with a straight $100 Brokerage Fee per security.

via Call Centre (Broker-assisted trades)

CRAZY.
 

Perisher

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I just got slapped with a straight $100 Brokerage Fee per security.

via Call Centre (Broker-assisted trades)

CRAZY.

I think you do not know that that is the market rate.
It cost about the same no matter which broker you use if you choose to call them to trade for you.

For any individual counter buy/sell using broker assisted trade by phone call cost $40++.
Your $100 should be a buy+sell transaction on a single counter yup?
 

limster

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I think you do not know that that is the market rate.
It cost about the same no matter which broker you use if you choose to call them to trade for you.

For any individual counter buy/sell using broker assisted trade by phone call cost $40++.
Your $100 should be a buy+sell transaction on a single counter yup?

If you have a regular TR, he/she actually has the discretion to waive the additional broker-assist fees and charge you the normal fee (but doesn't apply to SCB, no TR assigned)

$25,000 trade at 0.4% commission is $100. But luckily the market is up, so he still make money. Could be worse, like pay 0.4% commission and market crash =:p

I also presume that he had a reason to use broker assist, for example, want to trade a low liquidity stock and wanted the broker to check the whole order book for queue depth (because its quite expensive to subscribe) to make sure you are not ambushed by day trader, the broker can also split the $25,000 into tranches over the day, etc.
 

Sinkie

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If you have a regular TR, he/she actually has the discretion to waive the additional broker-assist fees and charge you the normal fee (but doesn't apply to SCB, no TR assigned)

$25,000 trade at 0.4% commission is $100. But luckily the market is up, so he still make money. Could be worse, like pay 0.4% commission and market crash =:p

I also presume that he had a reason to use broker assist, for example, want to trade a low liquidity stock and wanted the broker to check the whole order book for queue depth (because its quite expensive to subscribe) to make sure you are not ambushed by day trader, the broker can also split the $25,000 into tranches over the day, etc.

Yeah, now mostly all broker-assisted call in orders are charged online rate and min $25 le.. Or maybe he also want no minimun Comm for broker-assisted orders from scb too
 

Sinkie

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I just got slapped with a straight $100 Brokerage Fee per security.

via Call Centre (Broker-assisted trades)

CRAZY.

Or maybe you can call scb and tell them to waive all all excess charges? Just bs and say platform down and tell them to waive off? Or else you threaten to pull out of all your scb products like credit card/bank accounts/shares/Loan etc??

Sometime it works wor.. $100 really a lot
 

keep_rolling

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noob for scb online trading account

hi people, i am completely new to this trading, and i want to start off with the scb online equity trading account, and i have a few questions, so thought of asking here:

1. i am opening a e-saver account first with scb, then will apply for the trading account..i guess this is ok. other accounts have very high min. deposit balance.

2. i think i dont fulfill the CAR requiremnts mentioned in the application form. what to do? i am right now preparing for the sgx online quiz..looks a bit tough..will this be enough to open the account.

3. i want to invest small amounts only per month like DCA...100 - 200 SGD. so is it ok that i wont have the stocks in my name?

4. i dont have a CDP or settlement account or anything like that. do i need to open any more account for scb equity trading?

thanks a lot..i am a bit new hence this questions, thanks...
 
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