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

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Panerex

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noob question:

if the order is fillled today, when will the deduction be made from my SCB securites acccount?

thanks
 

doody_

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noob question:

if the order is fillled today, when will the deduction be made from my SCB securites acccount?

thanks

Settlement is T+3 days, so your account should be deducted on Friday.
 

skymusic72

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Recently found that I was unable to transact scb trading on iPad. Think prior to last week is ok.

Anyone else having this issue?
 

fbb005

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Cannot open Standard Chartered if no experience of SIP trading?
 

autumm

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7. What happens if I fail the Customer Account Review (CAR)?

If you fail the assessment (i.e. Option 3 of CAR is selected), you will not be able to open an equities trading account including online equity trading account(OLT). For existing online equity trading account(OLT) customers we regret that we will have to suspend your existing online trading account.

From the FAQ of SCB online trading. I assume the assessment they are referring to is the one by SGX? So i infer that if u pass the assessment, u would be allow to open an account.
 

lzydata

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7. What happens if I fail the Customer Account Review (CAR)?

If you fail the assessment (i.e. Option 3 of CAR is selected), you will not be able to open an equities trading account including online equity trading account(OLT). For existing online equity trading account(OLT) customers we regret that we will have to suspend your existing online trading account.

From the FAQ of SCB online trading. I assume the assessment they are referring to is the one by SGX? So i infer that if u pass the assessment, u would be allow to open an account.

This Stanchart FAQ is misleading. They have three options for the CAR: qualifications OR working experience OR 6 SIP trades in 3 years. Unlike other brokerages, there is no way to use the SGX Online Education Programme to qualify.
 

blackie83

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noob question:

if the order is fillled today, when will the deduction be made from my SCB securites acccount?

thanks

The deduction for SCB ish immediate. Their trading ish cash only.

Did you realize your buying limit is reduced when you key in a order? Doesn't matter it is filled anot.

Contra ish. (Transaction day + 3) more days later than pay.

Usually this one the brokage companies will default will give chiu 20k or more. (can call broker to up the limit one)
 

blackie83

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Actually you can just go for brokages rike poems, dmg, kim eng, cimb. They not so strict on the requirement.

Banks usually take compliance beri serious one.
 

StaRChO

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I have just made an buy order on Friday at a price of $0.755. From the scb order status page, it stated that it's filled at $0.755 but later the day it was reflected as $0.765 on the stock portfolio page and the amount charged was the number of lots x $0.765.

Anyone knows why is this so? Thanks.
 

bhalimking

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I have just made an buy order on Friday at a price of $0.755. From the scb order status page, it stated that it's filled at $0.755 but later the day it was reflected as $0.765 on the stock portfolio page and the amount charged was the number of lots x $0.765.

Anyone knows why is this so? Thanks.

If I remember correctly, I think the SCB Portfolio status reflects on the market price and not your buying order price.
 

autumm

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This Stanchart FAQ is misleading. They have three options for the CAR: qualifications OR working experience OR 6 SIP trades in 3 years. Unlike other brokerages, there is no way to use the SGX Online Education Programme to qualify.

Then for example i wanna buy ETFs which are listed under SIP. i do not study finanicials or work in the finance industry. How can i ever clock the 6 SIP trades in the first place? i have to qualify through other brokers with the SGX exams, place 6 trades then come and apply to SCB?

This really discourages new investors from coming into the market. I am going to email them about this and see what they say..
 

lzydata

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Then for example i wanna buy ETFs which are listed under SIP. i do not study finanicials or work in the finance industry. How can i ever clock the 6 SIP trades in the first place? i have to qualify through other brokers with the SGX exams, place 6 trades then come and apply to SCB?

This really discourages new investors from coming into the market. I am going to email them about this and see what they say..

By right, yes. They have an unnecessarily restrictive policy. But in person I was told more than once that "people are responsible for their own declarations"... :s22:
 

doody_

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It's a Catch-22 situation: you need trading experience to open a trading account, but you can't get trading experience until you open a trading account. I don't know why they have the "minimum 6 trades" rule in the first place...
 

Skywalker87

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I have got no trades to my name before. And I was allowed to set up the account. LOL.
 
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