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

Status
Not open for further replies.

steventay

Banned
Joined
Jan 1, 2000
Messages
1,810
Reaction score
0
Can some1 confirm?

So just like the other conventional tradin portals, by 5:16 if my buy/sell queues din go thru i can leave them alone (they will auto terminate) no need to cancel these queues myself hor?


TAKE NOTE PURCHASING POWER WILL BE DEDUCT FOR ALL THE QUEUE BID AMT.

Eg you have 10K in settlement and you will have 10K purchasing power.

you queue 3K.
you queue another 2K
your final purchasing power is 5K only.
it will auto Expired and you will get below email.



End of the day, all unfil queue will be auto expired and you will get below email.


Expired
==========================
Order Side: Buy
Order Quantity: 5000 shares
Stock Code: xxxx
Stock Name: xxxxxxxxxxx
Filled Qty: 0 shares
Avg Filled Price: SGD0.00
Outstanding Qty: 0 shares
Ref: xxxxx
Exe Qty: 0 shares
Exe Price: SGD0.00



when it is filled, you will get below email.

Filled
==========================
Order Side: Buy
Order Quantity: 1000 shares
Stock Code: XXX
Stock Name: xxxxxxxxxxxxxxxxx
Filled Qty: 1000 shares
Avg Filled Price: SGDX.XX
Outstanding Qty: 0 shares
Ref: XXXXXXXXXXXXXX
Exe Qty: 1000 shares
Exe Price: SGDX.XX


when u cancel from the queue, you will get below email.

Cancelled
==========================
Order Side: Buy
Order Quantity: 1000 shares
Stock Code: XXX
Stock Name: XXXXXXXXXXXXX
Filled Qty: 0 shares
Avg Filled Price: SGD0.00
Outstanding Qty: 0 shares
Ref: XXXXXXXXXXXXXX
Exe Qty: 0 shares
Exe Price: SGD0.00


when you purchase amt more than purchasing power, you will get below

Rejected
==========================
Order Side: Buy
Order Quantity: 1000 shares
Stock Code: XXX
Stock Name: XXXXXXXXXX
Filled Qty: 0 shares
Avg Filled Price: SGD0.00
Outstanding Qty: 0 shares
Ref: XXXXXXXXXX
Exe Qty: 0 shares
Exe Price: SGD0.00
 
Last edited:

steventay

Banned
Joined
Jan 1, 2000
Messages
1,810
Reaction score
0
so must i transfer $ into the Securities account, before i can start purchasing the shares through the platform?

yes. you must transfer the amt to the settlement account so that it will be the purchasing power amt in order to purchase.

e-saver just need put $1 can liao.
 

Sinkie

Greater Supremacy Member
Deluxe Member
Joined
Jan 20, 2009
Messages
85,959
Reaction score
11
yes. you must transfer the amt to the settlement account so that it will be the purchasing power amt in order to purchase.

e-saver just need put $1 can liao.

Is it a market maker or dma model and what's the executional speed?
 

steventay

Banned
Joined
Jan 1, 2000
Messages
1,810
Reaction score
0
Is it a market maker or dma model and what's the executional speed?

it is direct to SGX market... when u queue, u r queue in SGX. it is like other brokerage film just that your shares is place in SCB and not CDP.

SCB is not market maker or DMA
 

Sinkie

Greater Supremacy Member
Deluxe Member
Joined
Jan 20, 2009
Messages
85,959
Reaction score
11
it is direct to SGX market... when u queue, u r queue in SGX. it is like other brokerage film just that your shares is place in SCB and not CDP.

SCB is not market maker or DMA

Then it's not that bad afterall..
 

Skurai

Banned
Joined
Aug 5, 2006
Messages
58,482
Reaction score
6
Btw, for SCB, can queue or not? The queue goes to the market? I dont want those that u queue and it only hits if u queue goes to the higher bid.

I email them a few questions regarding their platform a couple of days back and no response sia...

the no min. comm. is the biggest draw for me

so paul, i save u the trouble and call them myself :)
firstly, the tel no. given on the promo site - 1800 747 700 - is NOT the no. to call
it should be 1800 242 5333
1st operator gave me the run-around, promising the trading side will call me back... its been 1hr.. no call back...
2nd operator gave me the correct no. to call...

this is what i got;
************************************************************
The min. comm. is an ongoing thing... its not a promo..
the promo is the 2 free trades

The custodian of your shares is confirm - SCB will keep your shares
there's no custodian fees
but if u prefer to move your shares to CDP, u can request SCB to do so and they'll arrange it - again, no fees for this
************************************************************

for myself, the 2 free trades promo is no biggie... i'll standby and see what are the actual experiences...
(i'm secretly hoping for the no min. comm. practice to catch on) :p

Did they mention how much will be the commision after promo period?
 

steventay

Banned
Joined
Jan 1, 2000
Messages
1,810
Reaction score
0
Btw, for SCB, can queue or not? The queue goes to the market? I dont want those that u queue and it only hits if u queue goes to the higher bid.

I email them a few questions regarding their platform a couple of days back and no response sia...



Did they mention how much will be the commission after promo period?

the queue should be go to the market as they are not market maker
 

lasnoblur

Master Member
Joined
Mar 9, 2008
Messages
3,475
Reaction score
19
Cant even find the application form at their website. z

Email them already.
 

lasnoblur

Master Member
Joined
Mar 9, 2008
Messages
3,475
Reaction score
19
Btw, they have the trades combination thing rite?

Eg. 2 different buy orders for counter A at different timing = 1 commission ?
 

Kiwi8

Honorary Member
Deluxe Member
Joined
May 3, 2001
Messages
114,313
Reaction score
567
Most importantly is the interface too.

How is it? User friendly enough?
 

steventay

Banned
Joined
Jan 1, 2000
Messages
1,810
Reaction score
0
Btw, they have the trades combination thing rite?

Eg. 2 different buy orders for counter A at different timing = 1 commission ?

they dont combine. anyway they don't charge min comission fee...

all order are total cost * 0.2%
 
Joined
Dec 28, 2010
Messages
196
Reaction score
0
Yes correct, you are "forced" to trade within your own means. Make sure that you have sufficient funds for the buy trade including GST and SGC clearing fees.

So for example, you are buying a stock principal value $1000, you must have at least $1010 in your account to provide for the commission, sgx fees and gst.


so must i transfer $ into the Securities account, before i can start purchasing the shares through the platform?
 
Joined
Dec 28, 2010
Messages
196
Reaction score
0
T+3 u will see the money back in your settlement account.

Buy = pay immediate from your settlement,
Sell = T+3 to be relflected in your settlement account.

if i buy and sell on the same day, when will the settlement account refund the money?
 

Sinkie

Greater Supremacy Member
Deluxe Member
Joined
Jan 20, 2009
Messages
85,959
Reaction score
11
I heard the transfer from cdp to their custodian account will take 1 month..

Anyone can confirm?
 

fighting

Senior Member
Joined
Aug 29, 2003
Messages
1,687
Reaction score
0
just went to open to open an standard chartered e$aver account along with a online trading account.

the CSO told me from 1st June 2011, all e$aver account need a Minimum average daily balance of $1500?

I went to their website still put as $0. Anybody can confirm?
 

xd3vilx

Master Member
Joined
Jun 6, 2005
Messages
2,601
Reaction score
0
just went to open to open an standard chartered e$aver account along with a online trading account.

the CSO told me from 1st June 2011, all e$aver account need a Minimum average daily balance of $1500?

I went to their website still put as $0. Anybody can confirm?

I just open a e$aver...my relationship manager told me is $0 eh. Never tell me the min average.
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.
Top