Standard Chartered Online Trading Reviews and Comparison - Seedly
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Standard Chartered Online Trading

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  • Reviews (31)
  • Questions (0)
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Standard Chartered Online Trading

$10
MINIMUM FEE
0.20%
TRADING FEES
Custodian
STOCK HOLDING TYPE

    Standard Chartered Online Trading

    $10
    MINIMUM FEE
    0.20%
    TRADING FEES
    Custodian
    STOCK HOLDING TYPE

Details

Standard Chartered Trading Review 2020

SCB Trading is an online brokerage and trading platform by Standard Chartered Bank. SCB Trading offers Cash Upfront Trading account at $10 minimum commission, and fees of 0.18%-0.20% depending on the amount invested.

Read More about Standard Chartered Online Trading
Reviews (31)

3.7

31 Reviews

  • 5
    8
  • 4
    15
  • 3
    3
  • 2
    0
  • 1
    5

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  • Updated 4h ago

    Purchased

    Standard Chartered Online Trading

    Set up a SCB e$aver account in order to gain access to the London Stock Exchange for purchasing IWDA. [Commission Rates] 0.25%/USD 10, whichever is higher. [User Interface] Online trading UI is not very user friendly for a first time user but it gets better after some time. [Customer Service] Only experience on this was with the branch staff at NEX. She was extremely patient and helpful in answering my queries as a first time investor looking at purchasing stocks through the SCB platform. [Market Access] SGX, LSE, HKEX, NYSE, etc. [Others] Chose SCB over Interactive Brokers for now as I do not have total asset value of >USD100000 and do not want to be incurring a USD10 monthly fee. SCB does not have custodian costs as well so that is a plus. FX spreads for USD/SGD are typically between 0.4% - 0.6%.
    0 comments
    0
  • Updated 12h ago

    Purchased

    Standard Chartered Online Trading

    [Commission Rates] Hides behind supposed low commission rates of $10 at 0.25% but in actual fact rips you off with horrendous FX spreads of atleast 0.8%. This means for every trade of example $4k, you pay $10 for comms fee and lose another $32 in FX costs. Do yourself a favor and go to IBKR, even with the monthly US$10 maintenance fee, its still better. IBKR charges 0.05% comms fee and charges close to FX spot rates (like google fx conversion) [Customer Service] Worst of its kind. You can send them an email and not get any reply in 2 weeks. [Securities Transfer] If and when you decide to move your holdings to another brokerage, you can't because of their inflexible nominee structure that prevents you from doing that. STAY AWAY!
    0 comments
    0
  • Updated 4w ago

    Purchased

    Standard Chartered Online Trading

    [User Interface] Simple user interface. Would recommend if you're looking for an easy to use and understand brokerage. The only draw-back I feel is the exchange rates when you convert SGD into USD. However, if you're looking for a brokerage with lots of charts and analysis, this is not the brokerage to go with.
    0 comments
    0
  • Updated on 24 Jun 2020

    Purchased

    Standard Chartered Online Trading

    I decided to switch my trading account to stanC and have been very satisfied. Account opening process was very seamless and I can trade in most G7 currencies - US, Europe, JP, HK. - for US stocks the brokerage is very Low as compared to previous Brokers I have used - no demat fees for holding of foreign shares (US) except ADRs which is also very little (used to be 2$ per stock per month with OSPL) - Foreign currency dividends post tax are directly credited to your account without any service charge (10USD) for my previous broker (OSPL) - I get online Alerts for all corporate actions on foreign currency stocks in addition to standard buy/sell and other alerts
    0 comments
    0
  • Updated on 08 Jun 2020

    Purchased

    Standard Chartered Online Trading

    [Customer Service] Hotline wont be available in the day, do call in the night and they pick up really quickly. [Commission Rates] Alright commission rate BUT if you are doing overseas stocks..... the foreign exchange spread will scare you away and eat into your profits. [User Interface] Simple for beginners but advance traders would think it's not enough for sure. [Market Access] Do not understand why most of the things still need hardcopy and you have to go down to pass it to them, eg. opening another currency account.
    2 comments
    0
    hoshi

    29 Jun 2020

    Noted on the exchange rate for foreign exchange, are you still using SC or do you have other brokers to recommend, personally use?
    Sharon Lee
    Sharon Lee

    30 Jun 2020

    Currently using tigerbrokers, would recommend IBKR if you are trading frequent
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Types of services Standard Chartered Trading provides

  • SCB Priority Banking customers do not require a minimum-transaction brokerage fees and no custody fees for all transactions
  • Competitive low brokerage fees from 0.18% for priority clients
  • ETF (Exchange Traded Funds) selector tool to help filter ETFs available for online trading.
  • Stock analysis tools to help analyse market movements and identify the market entry or exit points.
  • Profit and loss calculator to provide clarity on fees and charges on trading transactions
  • A Stop Loss order option, where it will automatically sell a security when it reaches your pre-determined price.
  • Multi-channel platform allows trading on any web-enabled devices, tablets, and mobile devices.

Brokerage fees and charges of Standard Chartered Trading

The fees and charges of Standard Chartered Trading are as follows:

Online

  • Minimum Commission: S$10
  • Investment of S$50,000 and below: 0.20%
  • Investment of S$50,000 to S$100,000: 0.20%
  • Investment above S$100,000: 0.20%

Contact Standard Chartered Trading

For more info, you can check out Seedly’s Ultimate Cheatsheet for Cheapest Stock Trading/ Brokerage House in Singapore!