Hi everyone! Is it possible for me to sell some SGX stocks (bought using DBS Vickers cash upfront account) through my Standard Chartered trading account? - Seedly
Seedly logo
Seedly logo
Ā 

Investments

Stocks Discussion

Standard Chartered

Anonymous

Asked on 01 Sep 2019

Hi everyone! Is it possible for me to sell some SGX stocks (bought using DBS Vickers cash upfront account) through my Standard Chartered trading account?

Thinking if it's possible to do so since the fees for Standard Chartered are lower. Thank you!

0 comments

10 answers

Answer Now

Answers (10)

Sort By

Daryl Liao, Fti
Daryl Liao, Fti
Level 7. Grand Master
Answered on 07 Dec 2019

Nope. SC is a custodian account while DBS deposits to your CDP account. You can sell using FSMOne though! their fees are the cheapest if im not outdated.

0 comments

šŸ‘ 6
Bjorn Ng
Bjorn Ng
Level 9. God of Wisdom
Answered on 05 Dec 2019

Unfortunately you can't as stocks bought using DBS cash upfront are stored in your CDP, whereas stocks bought in your SC trading account are stored in SC custodian account.

However, with that said, FSMOne offers selling of shares at $10 commissions from your CDP, that is what I did for one of the IPO stocks I've gotten. So it's possible to buy using DBS Cash Upfront and sell using FSMOne, both at $10 comms each!

0 comments

šŸ‘ 4

No. The custody of your shares is the key to this. If DBS is holding on to your shares for you (i.e., they are the custodian), then SCB cannot see what you have, and thus you won't be able to sell it.

If SGX is holding on to your shares however, then any CDP linked account can access and sell your holdings.

You need to know where your holdings are kept.

0 comments

šŸ‘ 3
Wallace Chai
Wallace Chai
Level 9. God of Wisdom
Answered on 06 Dec 2019

Nope. It is tied to individual banks. Other banks can't see it.

0 comments

šŸ‘ 1
Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 05 Dec 2019

No - it's not possible to just transfer it like that.

0 comments

šŸ‘ 1
Choon Yuan Chan
Choon Yuan Chan
Level 9. God of Wisdom
Answered on 07 Dec 2019

No. Standard chartered holds and transacts as your shares under nominee holdings. It is not linked to your own CDP. However you can sell what you bought on DBS vickers via other stock brokerage such as Maybak, UOB etc (BUT not Standard Chartered)

0 comments

šŸ‘ 0

No, it is not possible since they are completely different platforms.

Here is everything about me and what I do best.

0 comments

šŸ‘ 0
AI
Adri Is
Level 2. Rookie
Answered on 06 Dec 2019

I dont think its possible as Vickers store in CDP, and Stand Chart is custodian.

0 comments

šŸ‘ 0
Adelyn K
Adelyn K
Level 5. Genius
Answered on 05 Dec 2019

No, they are stored in different accounts. You would have to sell off your SGX stocks in your DBs/CDP account first then buy again with your SC trading account.

0 comments

šŸ‘ 0
Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Answered on 03 Sep 2019

No, that is not possible.

Standard Chartered is a custodian account and is not linked to CDP.

DBS is linked to CDP.

If you would like to enjoy lower fees for SELLING of shares kept in CDP, you can use FSMONE.

0 comments

šŸ‘ 0