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

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  • Reviews (37)
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Online Brokerages/Standard Chartered Online Trading
Online Brokerages/Standard Chartered Online Trading
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USER RATINGS

Customer Support

3.1

User Experience

3.0

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 (37)

3.4

37 Reviews

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  • Updated 4w ago

    Purchased

    Standard Chartered Online Trading

    TL;DR: they have "Standard" in their name but actually bo standard. I'm leaving once my TD Ameritrade acc is set up. [Commission Rates] At a flat rate of 10.70 USD for buy AND sell, it's definitely competitive. Only because we have a lack of comms free trading platforms in SG and I don't like that Saxo charges a custodian fee as I'm a buy and hold long term kind of investor. [User Interface] Bad. When I try to navigate to the trading platform after logging into the banking platform, I get logged out 8/10 times. Frustrating. Incognito mode does nothing to help. You really just need to close your eyes and pray that it works. Then when you get to the platform, it looks ugly AF. Sigh. The app is decent. Sometimes I get so frustrated with the website I just place my orders via the app. At least I don't get logged out randomly. [Customer Service] Called them up 5 mins ago because post the AAPL stock split, the new average price is not reflected correctly. Called the 1800 number for online trading helpline, but was told by the CS agent that she's from personal banking and she can't help me. I was confused and asked if I called the right number and she said yes, but when the lines are overwhelmed, it will automatically get routed to the PB dept. Pros: you get to speak to an agent instead of holding forever. Cons: your problem can't be resolved. Asked for an email address in case I miss the call and there's no email address for us to send our queries too. I came here to write this review and found the solution to my problem, posted by another user. Guess self service is more efficient than getting them to solve my problem.

    1

    Gerald Leong
    Gerald Leong

    4w ago

    For those who are facing the same issues, I'm gonna copy and paste the solution posted by another user below so you don't need to scroll down. "Hi i called and asked need to manually change. so after logging in, scroll to the right of your securities page and press details. when at that page got 2 lists which indicate the pre and post stock split. Input the number 0 on the price than tick the box before saving."
    Post
  • Updated on 09 Oct 2020

    Purchased

    Standard Chartered Online Trading

    [Commission Rates] Pretty expensive, many other cheaper alternatives like Saxo or TD Ameritrade. [Products Offered] Limited, doesn't have options [User Interface] Not very nice interface, Other platforms offer much more without subscribing for premium access

    0

    Post
  • Updated on 08 Oct 2020

    Purchased

    Standard Chartered Online Trading

    The worst trading account ever. I lost around $7k and even more because of them. Didnt tell customer that to take a priority offer you need to have a residence address in that stock’s original country. Was waiting why I did not receive the stocks.. i prepared the money that i am supposed to use for other stocks if they are unable to process. Wasted both my time and money really. Plus, I am priority banking customer with dedicated RM that supposed to have ‘priority’ service. No one really told me what happened until I chased them. This kind of experience can be avoided if they were well trained and focusing on customer service. Did not have such basic knowledge and did not bother to learn and give complete explanation to customer. Not only this experience, i have multiple bad experiences trading with them. Have to bear the money and time loss and the regret in my life to really trust them. The worst trading experience. Just pls be careful when you are dealing with them.

    0

    Post
  • Updated on 20 Sep 2020

    Purchased

    Standard Chartered Online Trading

    Standard Chartered Trading that don’t admit they are of any wrong. Just my bad luck, a telephone call to Standard Chartered trading cause me to lose an upfront S$1,100 from an action of one of my US stock. I feedback, complaint & plead with Standard Chartered on many occasions including their social media but still the Securities department felt their new & inexperienced staff answering my call has no fault and I as a customer have to bear the full S$1,100 monetary loses from my call to them. Which means they are faultless. On 18 Aug 2020, I received a SMS on my phone with minimum details to call Standard Chartered Trading of a Corporate action event know as a Tender Offer for one of my US counter, Intel Corp. I called and a Client Care Executive called Ozzy attended to me. Having no prior knowledge to such Tender Offer and sms did not contain any link to the Corporate action, I asked Ozzy to explain to me. However just my luck I didn’t know he was new, he just read out some script of the Tender Offer memo which ring no bell to me. When I asked him to explain more to me, he couldn’t and just move to this tender offer option available to me which are Option 1: Take Cash (USD), or Option 2: Take No action (default). Frankly for other banks or Trading Securities when a client asked to explain more or something new to him/her, the client expect the call centre executive to be professional and ethical enough explain the matter or divert the call to a more experienced staff to handle the call. Unfortunately, Ozzy didn’t and just read from what’s available to him and didn’t bother to pass my question of what is a Tender offer to a more experienced colleague. Coincidentally, this US counter Intel Corp recently issued a cash dividend and I asked Ozzy later in the call if is related to the recent ex-dividend that I can take cash out or from. Ozzy didn’t corrected my mistake or misunderstanding, and I concluded my decision for Option 1: Take Cash (USD) with thinking of take cash from dividend issued to me. The result is having just barely brought the Intel stock for a month at US$51, this 3rd party mini tender offer that was unsolicited & offer $45.63 per share of 6.21% below market price I have accepted unknowingly thanks to a newbie talking my call. These are the pointers Standard Chartered Trading defended that they are faultless: • Theresa their team leader has reviewed the phone conversion and said Ozzy repeatedly informed me that this is a tender offer • Claimed he has requested me if I wish to amend my instruction can still do so by 24 August 2020 • I could have referred to more details on this tender offer from a letter sent to me on 17 August 2020 • Standard Chartered said they are working on an execution-only service and do not provide investment or other advice to their client. And they are not in a position to advise if any corporate action event, including but not limited to, tender offers, are favorable to their client or not. So you guys have been warned that even as you paid Standard Chartered Trading of trading fees and kept large amount of currency in the trading account, they are not obliged to advise what is the action, or advise you of the trap holes and potential monetary loses even if you called them to explain. If things go wrong like my case having a newbie took my call, the bank would just claim they have no fault as their client never do their homework and checking. [Customer Service]

    1

    Ong Delion
    Ong Delion

    4w ago

    I wish to update to whom of concern that the Bank has since contacted me and the matter has been resolved amicably : )
    Post
  • Updated on 09 Sep 2020

    Purchased

    Standard Chartered Online Trading

    Bought apple shares before the stock split, after the 1-4 stock splits. The split wasn't reflected on my portfolio. I have to hold on to the stock and suffer the losses. Called up customer service and they said they will resolve but nothing is done.

    2

    Han
    Han

    19 Oct 2020

    Hi i called and asked need to manually change. so after logging in, scroll to the right of your securities page and press details. when at that page got 2 lists which indicate the pre and post stock split. Input the number 0 on the price than tick the box before saving.
    Gerald Leong
    Gerald Leong

    4w ago

    Thanks for this! I also called them up because after the stock split, the new average price was not reflected. Called them up, the line got redirected to the personal banking customer service agent who said she can't help me. Then she just took down my details and said she will get the online trading dept to call me back. I guess self-service better than SC's shit standard service.
    Post
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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!