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

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Slowdown

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Hahaha.

My question may not have saved the stock market but it may just save a few more trees. My last contribution to humanity. I can now RIP. On the way to bedok reservior now.

I didn't know that! Will call in later. I've been scanning and discarding the paper contracts/statements...
 

thegodfather

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Amen. Hope more can switch to paperless. Will help SCB with its balance sheet as well as overheads.

Hahaha.

My question may not have saved the stock market but it may just save a few more trees. My last contribution to humanity. I can now RIP. On the way to bedok reservior now.
 

limster

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no tax on LSE also. the only choice is whether you want to receive dividend in pounds or USD lor. If you want to take pounds, buy the class B shares on the LSE. If you want USD, take the class B ADRs on the NYSE.

Yes, you have mentioned this before, hope its true for other ADRs. Recently vested GSK, VOD, AV, HSBC. Waiting for dividend to see any withholding. The only issue is that US listed ADR might be subject to US estate tax (need tax expert).


Info for others
ADR fee - $0.005 per share per quarter deducted from dividends. (depends on issuer - read the issuer's ADR page - if don't know how to find the webpage, maybe ADR not for you :) )
Different prices - probably referring to price movements in US market after UK market closed.
Trading in US. commissions are cheaper, data also cheaper ($1.50 NYSE or Nasdaq good enough).
 

thegodfather

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I wasn't aware of ADR fees per quarter. Does this hold truth for other stock exchanges. No right? I tried to ask scb but taxation eye and these fees subject matter are beyond them.

Hard to find these info

Yes, you have mentioned this before, hope its true for other ADRs. Recently vested GSK, VOD, AV, HSBC. Waiting for dividend to see any withholding. The only issue is that US listed ADR might be subject to US estate tax (need tax expert).


Info for others
ADR fee - $0.005 per share per quarter deducted from dividends. (depends on issuer - read the issuer's ADR page - if don't know how to find the webpage, maybe ADR not for you :) )
Different prices - probably referring to price movements in US market after UK market closed.
Trading in US. commissions are cheaper, data also cheaper ($1.50 NYSE or Nasdaq good enough).
 

Slowdown

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Just called SCB. Contract note cannot email or PDF yet. Only hardcopy mail. They said they dont have that function yet.
 

thegodfather

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I just did it the day before at ion orchard.

There is a form together with currency you want to open if you want physical mail or paperless. I should have taken a photo of it.

I asked the lady if it extends to trade contracts. Paperless she said yes.

Just called SCB. Contract note cannot email or PDF yet. Only hardcopy mail. They said they dont have that function yet.
 

dinosaur2776

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Hi guys, just opened my stan chart trading account. Together with esavers

Now i dont know what to do to start trading. I have deposited 22k inside the savinfs account.

Do i transfer money into the trading account? Or can straight trade? And i see so many options to tranfer money to... Which optuon to choose
 

Asphodeli

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Hi guys, just opened my stan chart trading account. Together with esavers

Now i dont know what to do to start trading. I have deposited 22k inside the savinfs account.

Do i transfer money into the trading account? Or can straight trade? And i see so many options to tranfer money to... Which optuon to choose
Transfer to the SECURITIES SETTLEMENT ACCOUNT SGD for stocks quoted in SGD.

Yes need to transfer, because their trading product is not linked to their banking product

Sent from Sony D5833 using GAGT
 

chuanz

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Just called SCB. Contract note cannot email or PDF yet. Only hardcopy mail. They said they dont have that function yet.

Me too. Just called and was told Securities Contract Note only hardcopy available. :(
 

limster

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I wasn't aware of ADR fees per quarter.

If ADR don't charge fees, then who would want to be an ADR issuer?
Wall street is profit driven :D

As long as fees are transparent, I can do my cost-benefit analysis of whether to trade in UK stocks or US ADR. Currently, I favour ADR.
 

chuanz

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Hi guys, just opened my stan chart trading account. Together with esavers

Now i dont know what to do to start trading. I have deposited 22k inside the savinfs account.

Do i transfer money into the trading account? Or can straight trade? And i see so many options to tranfer money to... Which optuon to choose

Since I'm kinda bored at work and today's Friday...

Click this
2EPkseI.png


If you want to trade SGD denominated securities, transfer to the SGD settlement account. If you want to trade USD denominated securities, transfer to the USD settlement account. And so on...
smg71Lq.png


After completing the transfer, go to:
Hh18Qw7.png


And click
0TeJ6t2.png


You can click Refresh for Purchasing Power to get the actual amount of $ you can buy with
7KFtADx.png


Key in your order
pQXILo9.png


The next page will show your order summary
Once you click "Confirm" on this page, you're all set!
MOgXDX2.png


Please note the "Total Transaction Amount", still need to add GST to it... that's the minimum amount (and a little bit more) that you should have in the Settlement account. Otherwise your order might get cancelled. Best is to have like $10 buffer for these "incidental charges", because if you calculate down to the exact cent, they may still reject the order for whatever reasons. Not worth to get your blood pressure up over it.

Anytime you wanna check your order status, go to
BKshd1H.png
 
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fr3ezeee

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This is a very informative thread that many can benefit from it, especially for newbie. But at the cost of flipping 300+ pages and crawling over every single thread to find something vital to learn. That's a terrible waste of effort and time.

My humble suggestion, why not someone consolidate and summerize up all the important information on the first page or something?

Info like which exchange center charge tax on dividend, way to put money in account, way to create account, etc etc. Those very important yet wont have much major changes.
 

Perisher

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This is a very informative thread that many can benefit from it, especially for newbie. But at the cost of flipping 300+ pages and crawling over every single thread to find something vital to learn. That's a terrible waste of effort and time.

My humble suggestion, why not someone consolidate and summerize up all the important information on the first page or something?

Info like which exchange center charge tax on dividend, way to put money in account, way to create account, etc etc. Those very important yet wont have much major changes.

There are many who say the same thing but hor, haha, everyone is lazy to scan through this 300+ pages to consolidate into 1 easily referable page leh...
I can do the rest if someone is willing to do the consolidation...:s13:
 

fr3ezeee

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Easy, since im sure this thread remain very active and i assume many old folks remain active here since day 1. Why not every one post with their own important information so that we can keep add on and correct each other. No scanning is required.

1) Start with me, to my knowledge stock invested in US will have withholding 30% tax on dividend, yet LSE dont have any or 15%?

2) To open trading account in SCB, you just have to tell the agent that you have investment history and no prove, no test will be required.

3) At least S$1k have to deposit at E$aver account to enjoy the 0.2% low commission fee.
 

badboi123

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Just got my SC account and done with all set up but I am shock to see that there is no "market order"
There is only "limit order"

Anyone here able to buy your shares as stated ?
As far as I know, the price you quote must be 100% exact
Else you will not receive any confirmation

For example
If you quote $103.50
It must exactly hit that amount
In order for u to get the confirmation
Even 1 cent makes a different
 

boopit

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Just got my SC account and done with all set up but I am shock to see that there is no "market order"
There is only "limit order"

Anyone here able to buy your shares as stated ?
As far as I know, the price you quote must be 100% exact
Else you will not receive any confirmation

For example
If you quote $103.50
It must exactly hit that amount
In order for u to get the confirmation
Even 1 cent makes a different

ya you set your price.
 

thosai

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Just got my SC account and done with all set up but I am shock to see that there is no "market order"
There is only "limit order"

Anyone here able to buy your shares as stated ?
As far as I know, the price you quote must be 100% exact
Else you will not receive any confirmation

For example
If you quote $103.50
It must exactly hit that amount
In order for u to get the confirmation
Even 1 cent makes a different

Isnt limit order safer? Since there is no min commission, u can queue at better price...
 

boopit

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guess u ran the risk of overestimating then your orders can never be filled haha
is just irritating for those who want to get rid of the stocks quickly i supposed. cuz still need to check market price
 
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