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Chan Ze Ming
19 Oct 2020
Accountancy and Finance Student at Nanyang Polytechnic
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Nicholas Beh
19 Oct 2020
Student Ambassador 2020/21 at Seedly
You don't actually need to have an existing Standard Chartered bank account to open a trading account. But of course, it would be easier to move funds around if you already have a bank account with them. Apart from a trading account, they will open settlement accounts where you can transfer in and out your money.
They support multiple markets, including US, UK, SG, HK, Australia, Japan and a few other European markets. It is most popularly used around here for purchasing Irish-domiciled ETFs listed on the LSE (UK) because they do not have any recurring fees. There are more competitive offerings for other markets. If you hold more than $200,000 of assets with Standard Chartered, they will bump you up to Priority status which will entitle you to lower commission rates, no minimum commission and other benefits.
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Hello,
Apart from what Nicholas has typed, just gonna add on that you must be 21 and above in order to have a trading account with them. If youre not, you can create an account with DBS vicker, Poems, Fsmone instead.