Anonymous
Standard Chartered JumpStart New Account Promotion on SC Online Trading?
I have recently opened a jumpstart accnt with sc, entitled to 100% brokerage fee rebates for the first S$20,000 from 1 November 2019 to 31 December 2019. What's the catch with this rebate? And should I start trading with them? *background: I'm a fresh uni grad, starting work nxt jan, monthly gross is 2500
the tnc: https://av.sc.com/sg/content/docs/jumpstart-sgo...
Please advice! Thank you :)
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Kelly Trinh
20 Nov 2019
Backoffice technical at financial services firm
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Its rebates of S$20k of trade value. Assuming SGX Trades for normal (non-priority customers) the fee is 0.2% of trade value so you get a rebate of ... 40 dollars.
Conceptually you can get more value by having a lot of little trades (each at minimum brokerage of $10 but with little trade value).
But then if you don't sell by end of promo period, you will have these really small lots of shares that eventually on sale will pay the sell side brokerage so not worth to do it that way.