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

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studylah

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hi all, from it's website, it says no custody fee.
anybody has any idea on whether they charge handling fee on corporate actions such as dividend payment, rights issue, share consolidations etc?
 

MikeDirnt78

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hi all, from it's website, it says no custody fee.
anybody has any idea on whether they charge handling fee on corporate actions such as dividend payment, rights issue, share consolidations etc?

no such fees at the moment.
 

fighting

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applied for my account since 17th June 2011, till now my online trading account had not been activated. Called SCB numerous times and every time they will tell me due to overwhelming responses from the public the account opening will take some time. But seriously? Almost one month. Think i will close my e$avers afterall and go with POEMS... SCB is just inefficient..
 

limster

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no such fees at the moment.

which makes me wonder what their business model is. Since they are acting as custodian, they must incur compliance and admin fees.

Banks under the CPFIS scheme are also holding your CPF bought shares as custodian, and they need to charge custodian fees.

I hope its not a case of free first, then later charge fees.
 

MikeDirnt78

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which makes me wonder what their business model is. Since they are acting as custodian, they must incur compliance and admin fees.

Banks under the CPFIS scheme are also holding your CPF bought shares as custodian, and they need to charge custodian fees.

I hope its not a case of free first, then later charge fees.

dont be surprise if the business model turns out to be a successful one. i have been following standard chartered for so long. and i know many of others including me have benefited from their aggressive promotions. they can spend like nobody business but their profits are still turning out well.

i hope the other brokers can follow suit in implementing the no-minimum commission charges for upfront accounts.
 

Sinkie

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dont be surprise if the business model turns out to be a successful one. i have been following standard chartered for so long. and i know many of others including me have benefited from their aggressive promotions. they can spend like nobody business but their profits are still turning out well.

i hope the other brokers can follow suit in implementing the no-minimum commission charges for upfront accounts.

other brokers cannot follow suit because they are in a circle or union with weekly meeting that does not allow them undercut each another.

scb is not in that union so thats why they can chu this pattern..
 

MikeDirnt78

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other brokers cannot follow suit because they are in a circle or union with weekly meeting that does not allow them undercut each another.

scb is not in that union so thats why they can chu this pattern..

so in other words, they are fixing price :look:
 

Sinkie

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so in other words, they are fixing price :look:

im not implying they are fixing price, just revealing something that retailer dont know.. please do not put words into my post.

do we say smrt or comfortdelgo fixing price too? :o
 

MikeDirnt78

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im not implying they are fixing price, just revealing something that retailer dont know.. please do not put words into my post.

do we say smrt or comfortdelgo fixing price too? :o

anyway even if you dont mention, some of us already know. the brokerage fees have been more or less standard across platforms.

yes i would say the taxis are fixing price too. its quite obvious. but i am not complaining anyway. if i am not happy, i would just hold their shares to hedge. nothing much i can do to change.

as to this brokerage fees, nothing much we can do also. but users have alternative choices ie foreign brokers, etc.
 

Sinkie

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anyway even if you dont mention, some of us already know. the brokerage fees have been more or less standard across platforms.

yes i would say the taxis are fixing price too. its quite obvious. but i am not complaining anyway. if i am not happy, i would just hold their shares to hedge. nothing much i can do to change.

as to this brokerage fees, nothing much we can do also. but users have alternative choices ie foreign brokers, etc.

at least some will know the reason why they will not 'reduce' the brokerage fee to compete with scb, but again thats the price for those who contra alot too.

and of course we will also know whether scb will be able to make use of the new order types that are available to retailers and brokerage house come this august too so if they are able to also offer, then scb is definately a good brokerage for those with dont transact up to 10k per contract.
 

Chua Zhiming

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other brokers cannot follow suit because they are in a circle or union with weekly meeting that does not allow them undercut each another.

scb is not in that union so thats why they can chu this pattern..

sinkie, then what steps are the union taking to handle this pattern? or they cant be bothered with such small fishes :o :s13:
 

Sinkie

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sinkie, then what steps are the union taking to handle this pattern? or they cant be bothered with such small fishes :o :s13:

They encourage us to provide more personalized services lor..
We are also given a list of what to say when client ask about the scb platform but of course i personally likes the no minimum commission for oversea markets so I don't really say much but what I feel
 

sg_ltech

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I notice got 2 free trades till 31/08 but how does one get free trades? i key in stock price 0.56 30lots the commission it says is $40.90, where got free??
 

fuschia

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I notice got 2 free trades till 31/08 but how does one get free trades? i key in stock price 0.56 30lots the commission it says is $40.90, where got free??

I read that the bank will refund the commission subsequently. Meaning to say you will still pay for the commission upfront.
 

sg_ltech

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I read that the bank will refund the commission subsequently. Meaning to say you will still pay for the commission upfront.

I see, if let say i bought 30L 0.56 and comm is $40.90 then i sold also 30L at 0.56 $40.90..
Total comm is $81.80 still got balance $18.20 not use up, the third trade will less off the $18.20? Or there is only 2 free trades no matter the amount of comm?
 

MikeDirnt78

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I see, if let say i bought 30L 0.56 and comm is $40.90 then i sold also 30L at 0.56 $40.90..
Total comm is $81.80 still got balance $18.20 not use up, the third trade will less off the $18.20? Or there is only 2 free trades no matter the amount of comm?

do you understand english?

it says first TWO trades
 
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