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

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Wildreamz

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I have a question.. After you sell stock in USD, can you convert your USD immediately into SGD to buy stocks?
 

doody_

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I have a question.. After you sell stock in USD, can you convert your USD immediately into SGD to buy stocks?

No, because you can only do foreign currency exchange during office hours.
 

Wildreamz

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No, because you can only do foreign currency exchange during office hours.

What do you mean? Isn't stock trading only during office hours also:s22:

Or do you mean you can only do foreign currency exchange when you physically have the money (T+3)?
 

doody_

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What do you mean? Isn't stock trading only during office hours also:s22:

Or do you mean you can only do foreign currency exchange when you physically have the money (T+3)?

When you said you sold stock in USD, I assumed that you meant trading in the US market. Now I realised there might be some stocks that are traded in USD on the SGX.

Anyway, as long as it is office hours, you can do foreign currency exchange. And of cos you need to physically have the money in your account balance aka T+3.
 

Wildreamz

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When you said you sold stock in USD, I assumed that you meant trading in the US market. Now I realised there might be some stocks that are traded in USD on the SGX.

Anyway, as long as it is office hours, you can do foreign currency exchange. And of cos you need to physically have the money in your account balance aka T+3.

Thanks!

10 char
 

Inexpressible

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brokerage fee

Hey guys ,

I decided to move into SC cos of no min commission.

Just wanan ask you guys, there is brokage fees for first 2 trades ? This refers to offline trade right ?
 

Inexpressible

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I see, not sure about SCB system.

There is brokage fee 60 bucks for first 2 trades as shown on their website ? :s11:
 

yaucs

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I see, not sure about SCB system.

There is brokage fee 60 bucks for first 2 trades as shown on their website ? :s11:

extracted from:
Standard Chartered Bank Singapore

1. The sign up promotion ("Sign Up Promotion") is eligible for customers who open a securities online trading account with Standard Chartered Bank ("SCB") from 1 October – 31 December 2012 (both dates inclusive, the "Promotion Period").

2. To qualify for the Sign Up Promotion, a customer must sign up and transact online during the Promotion Period. The brokerage fees for the first two trades successfully transacted online will be reimbursed to the customer, up to a limit of S$100. etc etc
 

xsainty

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I'm intending to open a SCB Account, i wonder do they have any restrictions regarding whether you hold a job or anything?

& how does the dividends work with SCB? Do they still transfer you normally since it's a custodian account?

Thanksss
 

Litmuss

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I'm intending to open a SCB Account, i wonder do they have any restrictions regarding whether you hold a job or anything?

& how does the dividends work with SCB? Do they still transfer you normally since it's a custodian account?

Thanksss

As long as you have the cash in the bank, they wouldn't care if you have a job or not. After all, you have to have cash upfront first before you are able to purchase any shares.

For dividends, you will receive the amount 1 business day later than those on cdp as you are on the custodial account.
 

Dividends Wizard

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extracted from:
Standard Chartered Bank Singapore

1. The sign up promotion ("Sign Up Promotion") is eligible for customers who open a securities online trading account with Standard Chartered Bank ("SCB") from 1 October – 31 December 2012 (both dates inclusive, the "Promotion Period").

2. To qualify for the Sign Up Promotion, a customer must sign up and transact online during the Promotion Period. The brokerage fees for the first two trades successfully transacted online will be reimbursed to the customer, up to a limit of S$100. etc etc



promotions.jpg



last day to get free S$100 !

If I buy >S$50,000 of shares and pay up with cash , do I get the S$20 shopping voucher as well ?
 
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Elfenx

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trying to do an online registration, can someone give me a sample of how to declare the 6 trades?
I'd like to have an account and I havent traded before.. as someone mentioned, it's really a catch22 situation.
 

Inexpressible

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trying to do an online registration, can someone give me a sample of how to declare the 6 trades?
I'd like to have an account and I havent traded before.. as someone mentioned, it's really a catch22 situation.

I am also annoyed about that. Need at least 6 trades on SIP.
 

Inexpressible

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I think it's a MAS requirement to ensure that you are a sauvy investor, else you will need to go through an online test?

My friend didn't need to do this. She told me the staff at NEX branch do everything for her, help her open the bonus saver account for her trading that give 20 dollars in addition to the 80 dollars for the credit card she applied.

I guess its the staff knowledge about their bank products and how much they can offer to help. The branch I went, the staff just didn't know much when I ask him stuff on their trading system.
 

hachew

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is there any program that can let me filter stocks on sgx base on my preference?:(
 

Sinkie

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My friend didn't need to do this. She told me the staff at NEX branch do everything for her, help her open the bonus saver account for her trading that give 20 dollars in addition to the 80 dollars for the credit card she applied.

I guess its the staff knowledge about their bank products and how much they can offer to help. The branch I went, the staff just didn't know much when I ask him stuff on their trading system.

Well, I went out with one of my scb private banker friends for lunch today.

Over the lunch I asked one of them why scb requires such tough requirement to open a trading account. The answer I got was these personal bankers that's sitting at the counters. They are basically salesman with a point systems that will counts to them quarterly bonus.

Each product they sell like credit card, unit trust, insurance, mortgage loan or even the scb trading account will comes with points and a scb trading account point is so low that is not even worth the hassle to open and also to do all the paper works that is required at all for the little points.

The less "low points" product they sell, the lesser their error they will commit and they will have more time to sell "higher points" product.

Unless you sign a unit trust or mortgage loan on the spot, then they will be more than willing to open a scb trading account for you.

Very good pb can make at least 10k per quarter and a scb account is like add a few dollars to their commission etc

Take it with a pinch of salt if this sounds controversial :)
 
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Inexpressible

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Well, I went out with one of my scb private banker friends for lunch today.

Over the lunch I asked one of them why scb requires such tough requirement to open a trading account. The answer I got was these personal bankers that's sitting at the counters. They are basically salesman with a point systems that will counts to them quarterly bonus.

Each product they sell like credit card, unit trust, insurance, mortgage loan or even the scb trading account will comes with points and a scb trading account point is so low that is not even worth the hassle to open and also to do all the paper works that is required at all for the little points.

The less "low points" product they sell, the lesser their error they will commit and they will have more time to sell "higher points" product.

Unless you sign a unit trust or mortgage loan on the spot, then they will be more than willing to open a scb trading account for you.

Very good pb can make at least 10k per quarter and a scb account is like add a few dollars to their commission etc

Take it with a pinch of salt if this sounds controversial :)

I made a mistake, my friend had some business degree which seems to fulfill the education requirements for the CAR, even though she know nth about stocks. I guess she didn't even know she pass the requirement due to that.

I am just a local engineering grad pawned by this sg society :(
 
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