Introduction:
If you’re thinking of trading in Singapore, you may be wondering about the trading charges you’ll incur. Standard Chartered is one of the online trading platforms available in Singapore, and it offers a range of account types with varying fees. Understanding the charges associated with each account type can help you choose the one that’s right for you and ensure you’re not paying more than you need to.
Understanding Standard Chartered Trading Charges:
When it comes to trading charges, Standard Chartered offers a range of account types to suit different needs. These include Cash Trading, Cash Upfront, and Priority Banking Trading accounts. Each account type has its own fees and charges, which can include brokerage fees, platform fees, and other charges. It’s important to understand the charges associated with each account type before you start trading so that you can choose the one that’s right for you and avoid any surprises.
Key Takeaways:
- Standard Chartered offers a range of account types with varying fees and charges for traders in Singapore.
- Understanding the charges associated with each account type can help you choose the one that’s right for you and avoid any surprises.
- When trading with Standard Chartered, be sure to consider the fees and charges associated with each account type to ensure you’re not paying more than you need to.
Understanding Standard Chartered Trading Charges
If you are considering trading with Standard Chartered, it is important to understand the various charges and fees associated with the service. Here is a breakdown of the different types of fees you can expect to encounter:
Commission Fees
Standard Chartered charges a minimum fee of $10 for each trade, with a commission fee of 0.20%. This is a competitive rate compared to other online trading platforms in Singapore. It is worth noting that the commission fee may vary depending on the type of investment product you are trading, so be sure to check the specific rates for each product.
Custody Fee
In addition to commission fees, Standard Chartered also charges a custody fee for holding your securities in custody. The fee is calculated based on the value of your holdings and is charged monthly. The custody fee is 0.18% per annum, subject to a minimum of $10 per month. This fee is competitive compared to other online trading platforms in Singapore.
CDP Clearing Fee
When you trade with Standard Chartered, you will also be charged a CDP clearing fee. This fee is charged by the Central Depository (CDP) for clearing and settling your trades. The CDP clearing fee is $0.0325 per unit, subject to a minimum of $2.50 per transaction.
Overall, Standard Chartered’s trading fees are competitive and transparent. While there are fees associated with trading, they are reasonable and in line with industry standards. It is important to understand the fees associated with trading before you begin, so you can make informed decisions about your investments.
Account Types and Their Fees
If you’re looking to start trading with Standard Chartered, you have three types of accounts to choose from, each with its own set of fees. In this section, we’ll go over the different types of accounts and the fees associated with them.
Brokerage Account
A brokerage account is the most common type of account for trading stocks. With a brokerage account, you can buy and sell stocks, bonds, and other securities. Standard Chartered charges a minimum trading fee of $10 for each trade made through a brokerage account. The brokerage fee for priority banking clients is 0.18% per trade, while personal banking clients are charged 0.20% per trade.
Custodian Account
A custodian account is a type of account where Standard Chartered holds your assets on your behalf. You can use a custodian account to hold stocks, bonds, and other securities. The minimum trading fee for a custodian account is $50 per trade. The brokerage fee for priority banking clients is 0.18% per trade, while personal banking clients are charged 0.20% per trade.
CDP-Linked Account
A CDP-linked account is a type of account that is linked to the Central Depository (CDP), which is the central securities depository of Singapore. With a CDP-linked account, you can buy and sell stocks and other securities listed on the Singapore Exchange. The minimum trading fee for a CDP-linked account is $10 per trade. The brokerage fee for priority banking clients is 0.18% per trade, while personal banking clients are charged 0.20% per trade.
Account holders can open any of these accounts with Standard Chartered. Priority banking clients must deposit a minimum of $200,000 to qualify for the reduced brokerage fee of 0.18% per trade. Personal banking clients can open an account with a minimum deposit of $1,000.
In summary, Standard Chartered offers three types of accounts for trading, each with its own set of fees. The minimum trading fee for a brokerage account and CDP-linked account is $10 per trade, while the minimum trading fee for a custodian account is $50 per trade. Priority banking clients benefit from a reduced brokerage fee of 0.18% per trade, while personal banking clients are charged 0.20% per trade.
Comparing Online Brokers in Singapore
If you are looking to invest in the stock market, you need to find a reliable online broker that offers competitive trading charges. In Singapore, there are several online brokers to choose from, and it can be challenging to determine which one is right for you. In this section, we will compare the features and fees of some of the most popular online brokers in Singapore.
Local vs International Brokers
When choosing an online broker, you can either opt for a local or international broker. Local brokers are regulated by the Monetary Authority of Singapore (MAS) and offer services to Singapore residents. International brokers, on the other hand, are based overseas and offer services to customers worldwide.
One of the most popular local brokers in Singapore is DBS Vickers. They offer a range of investment products, including stocks, bonds, and mutual funds. They charge 0.18% commission for Singapore stocks, with a minimum fee of $25 per transaction.
If you prefer an international broker, you can consider Interactive Brokers. They offer access to over 135 markets in 33 countries. Their commission rates are among the lowest in the industry, starting at 0.03% for Singapore stocks, with a minimum fee of $2 per transaction.
Fee Structures Compared
When comparing online brokers, it is essential to consider their fee structures. Some brokers charge a flat fee per trade, while others charge a percentage of the transaction value.
One of the most affordable brokers in Singapore is Tiger Brokers. They charge a flat fee of $0.08 per share for US stocks, with a minimum fee of $1.99 per transaction. For Singapore stocks, they charge 0.08% commission, with a minimum fee of $2.88 per transaction.
If you are looking for a broker with a low minimum investment, you can consider FSMOne. They allow you to invest in Singapore stocks with as little as $1. They charge 0.08% commission for Singapore stocks, with a minimum fee of $10 per transaction.
Standard Chartered Bank is another popular online broker in Singapore. They offer access to nine international markets and charge a commission of 0.2% for Singapore stocks, with no minimum charge.
In conclusion, when choosing an online broker in Singapore, you need to consider factors such as their fees, investment products, and regulatory status. By comparing the features and fees of different brokers, you can find one that meets your investment needs.
Investment Products and Market Access
Standard Chartered offers a wide range of investment products that you can access through their online trading platform. With Standard Chartered, you can trade equities, bonds, ETFs, unit trusts, derivatives, and margin trading.
Equities and Bonds
With Standard Chartered, you can access equities and bonds from 14 major stock exchanges around the world, including SGX, U.S, UK, Australia, Hong Kong, Netherlands, Germany, France and Japan. You can trade these securities online through their platform at competitive rates.
ETFs and Unit Trusts
Standard Chartered also offers access to ETFs and unit trusts. These investment products are a great way to diversify your portfolio and gain exposure to different markets and asset classes. You can trade these products online through their platform at competitive rates.
Derivatives and Margin Trading
Standard Chartered also offers access to derivatives and margin trading. These investment products are more complex and carry more risk than traditional equities and bonds. However, they can also offer potentially higher returns.
With Standard Chartered, you can trade derivatives and margin products on a range of underlying assets, including equities, indices, currencies, and commodities. You can also use margin trading to amplify your returns on traditional equities and bonds.
In conclusion, Standard Chartered offers a wide range of investment products and market access through their online trading platform. Whether you’re looking to trade equities, bonds, ETFs, unit trusts, derivatives, or margin products, Standard Chartered has you covered. You can trade these products online at competitive rates, giving you the flexibility and control to manage your investments from anywhere in the world.
Additional Considerations for Traders
As a trader, there are certain additional considerations that you need to keep in mind when choosing a brokerage. Standard Chartered Trading offers a range of features and services that make it a great option for traders in Singapore.
Trading Platform Features
Standard Chartered Trading’s online platform is designed to provide traders with a fast, reliable, and user-friendly trading experience. The platform offers a range of features, including real-time market data, advanced charting tools, and customizable watchlists.
International Market Fees
Standard Chartered Trading provides access to a broad range of international markets, including US stocks, REITs, and warrants. While the fees for trading in these markets may vary, Standard Chartered Trading’s fees are generally lower than those of other brokerages in Singapore.
Priority Services for Clients
Standard Chartered Trading offers priority services to its Priority Banking clients, including dedicated relationship managers and access to exclusive trading opportunities. If you are a Priority Banking client, you can also benefit from lower fees and higher trading limits.
When trading with Standard Chartered Trading, it’s important to note that losses can exceed your initial investment. It’s also important to choose a brokerage that is regulated by the Monetary Authority of Singapore (MAS) and that offers a nominee account to protect your assets.
Overall, Standard Chartered Trading is a great option for traders in Singapore who are looking for a reliable, low-cost brokerage with access to international markets and priority services for clients.
Frequently Asked Questions
What are the latest brokerage fees for Standard Chartered in Singapore?
Standard Chartered offers competitive brokerage fees for trading in Singapore’s stock market. The minimum fee is S$10, and the trading fee is 0.20%. However, priority banking clients can enjoy a reduced brokerage fee of 0.18% per trade in Singapore.
How can one calculate the trading charges with Standard Chartered in Singapore?
To calculate the trading charges with Standard Chartered in Singapore, you can use their online brokerage fee calculator. This tool allows you to estimate your trading fees based on the amount you’re planning to invest.
What’s the minimum balance required for a Standard Chartered Bank account in Singapore?
To open a Standard Chartered Bank account in Singapore, you’ll need to deposit a minimum of S$1,000. However, if you’re a priority banking client, you’ll need to deposit a minimum of S$200,000.
Are there any withdrawal fees when trading with Standard Chartered in Singapore?
Standard Chartered does not charge any withdrawal fees when trading in Singapore’s stock market. However, you should check with your bank to see if they charge any fees for telegraphic transfers.
What do reviews say about Standard Chartered’s trading account services?
Standard Chartered has received positive reviews for their trading account services. Customers have praised the bank for their competitive fees, broad choices of international markets, and excellent customer service.
How does Standard Chartered’s telegraphic transfer fee compare with other banks in Singapore?
Standard Chartered’s telegraphic transfer fee is competitive compared to other banks in Singapore. The bank charges S$20 for telegraphic transfers to other banks in Singapore and S$30 for telegraphic transfers to other countries. However, you should check with your bank to see if they charge any additional fees for telegraphic transfers.