For SC online trading, do we buy shares and then transfer money to the settlement account by the settlement date or do we need to have money in advance?
You must have enough funds in the settlement account first then you can buy.
For SC online trading, do we buy shares and then transfer money to the settlement account by the settlement date or do we need to have money in advance?
For SC online trading, do we buy shares and then transfer money to the settlement account by the settlement date or do we need to have money in advance?
Just open up this account, btw how do i fund it?? Can i transfer the money from my esaver to the settlement account? Will it convert from sgd to usd automatically ?? What the conversion rate like for scb from sgd to usd??
The SG - GBP conversion is not so bad.
Today, internet states S$2.04 can buy 1GBP
SCB conversion rate is S$2.08 to buy 1GBP.
(i rounded off the 3rd digit as i can't remember what it was...)
So for GBP their forex rate is about 2% above the internet interbank rate.
Compared to credit card where they change GBP into US$ then change it to S$ then charge you 5% extra....
I know SCB hasn't said anything yet, but after SGX changes lot size to 100, will there be people doing trades with 10 cent, 20 cent commission or something like that? This might cause SCB to set some sort of minimum commission.....
If I am new to trading, can I straight away go to SCB to apply for all the necessary account for trading? (no trading account also)
as long as you are an adult, then there's nothing stopping u
hahaha yup tats true, but I concern about whether is there a need to go down to SGX to open a CDP account first before heading to SCB
SCB does not use CDP as custodian account.
hahaha yup tats true, but I concern about whether is there a need to go down to SGX to open a CDP account first before heading to SCB
Which means that I can do down to SCB to open an account immediately? And wait for a few weeks for them to process? Thats convenient
any difference between this and dbsv?
started this stocks thingy recently and bought a few lots here and there on dbsv.
other than no min. commission still got what other benefits huh?
Which means that I can do down to SCB to open an account immediately? And wait for a few weeks for them to process? Thats convenient
any difference between this and dbsv?
started this stocks thingy recently and bought a few lots here and there on dbsv.
other than no min. commission still got what other benefits huh?
For SC online trading, do we buy shares and then transfer money to the settlement account by the settlement date or do we need to have money in advance?
The SG - GBP conversion is not so bad.
Today, internet states S$2.04 can buy 1GBP
SCB conversion rate is S$2.08 to buy 1GBP.
(i rounded off the 3rd digit as i can't remember what it was...)
So for GBP their forex rate is about 2% above the internet interbank rate.
Compared to credit card where they change GBP into US$ then change it to S$ then charge you 5% extra....
I know SCB hasn't said anything yet, but after SGX changes lot size to 100, will there be people doing trades with 10 cent, 20 cent commission or something like that? This might cause SCB to set some sort of minimum commission.....
Don't need as the shares are held under their own custodian accounts. But I went to create an account at CDP in case that I might need to transfer over next time or when I need to use other brokerages, I can just create account at the brokerage and start trading.
Beware of the CAR/CKR (???), they may not allow you from opening if they think you're not suitable for this product.
Hmmmm, do I need to go down to SGX personally to create CDP account? if yes, do they open on Sat?
What do they based on?
Go down to SGX: No need, if u sign up at any of the brokerage firms (Maybank-KE, DBSV, POEMS, etc.) they will do for you. For custodians like StanChart, can ask but I don't think they will process for you.
CAR/CKR: Basically about how long you've been trading, have u traded in other investment products like unit trusts, futures, options, etc. If you have some experience in unit trusts, then I think they're alright; I brought a friend (just started working, little savings, zero investment knowledge) to open an account a while ago, but after doing the CAR/CKR the bank didn't allow him to open one. Oh well. Just apply lor, no harm.