If you’re looking to start trading in Singapore, one bank that you may want to consider is Standard Chartered. Standard Chartered is a multinational bank with a strong presence in Singapore, and they offer a range of investment products and services to their clients. One important factor to consider when choosing a bank for trading is the fees that they charge, so in this article, we’ll take a closer look at Standard Chartered’s trading fees in Singapore.
Understanding Standard Chartered Trading Fees is crucial if you want to make informed investment decisions. Standard Chartered charges a variety of fees for their trading services, including brokerage fees, market fees, and other charges. These fees can vary depending on the type of investment product you are trading and the size of your trade. It’s important to understand these fees and how they can impact your returns before you start trading with Standard Chartered.
When you open an account with Standard Chartered, you’ll have access to a wide range of investment products and market access. Standard Chartered offers trading in stocks, ETFs, bonds, and more, and they provide access to major stock exchanges around the world. They also offer a range of tools and resources to help you make informed investment decisions, including research reports and market analysis.
Understanding Standard Chartered Trading Fees
If you’re looking to trade stocks in Singapore, Standard Chartered is a great option to consider. However, before you start trading, it’s important to understand the fees involved. In this section, we’ll break down the commission fee structure and custody and clearing fees charged by Standard Chartered.
Commission Fee Structure
Standard Chartered charges a commission fee based on the value of each trade. The commission fee is 0.20% of the trade value, with a minimum fee of $10 per trade. This means that if you make a trade worth $5,000, you’ll be charged a commission fee of $10, while a trade worth $50,000 will incur a commission fee of $100.
Custody and Clearing Fees
In addition to the commission fee, Standard Chartered also charges custody and clearing fees. These fees are charged by the Central Depository (CDP) and are passed on to customers by Standard Chartered.
The custody fee is charged by the CDP for holding your shares in custody. The fee is 0.0325% per annum, with a minimum fee of $2.50 per counter per month. This means that if you hold shares in one company, you’ll be charged a custody fee of at least $2.50 per month, regardless of the number of shares you hold.
The clearing fee is charged by the CDP for clearing and settling your trades. The fee is 0.0325% of the contract value, with a minimum fee of $0.35 per contract. This means that if you make a trade worth $5,000, you’ll be charged a clearing fee of $1.63, while a trade worth $50,000 will incur a clearing fee of $16.25.
Overall, the fees charged by Standard Chartered for trading in Singapore are competitive and transparent. By understanding the commission fee structure and custody and clearing fees, you can make informed decisions about your trades and minimize your costs.
Account Opening with Standard Chartered
If you’re looking to open a trading account with Standard Chartered, you’re in luck. The process is straightforward and can be done online. Here’s what you need to know about opening an account with Standard Chartered.
Online Broker Registration
To open a trading account with Standard Chartered, you’ll need to register online. The registration process is simple and can be done in a few steps. First, you’ll need to provide your personal details, including your name, contact information, and MyInfo details. Once you’ve done that, you’ll need to provide some financial information, such as your income and net worth. Finally, you’ll need to agree to the terms and conditions and submit your application.
Priority Banking Benefits
If you’re a Priority Banking customer with Standard Chartered, you’ll enjoy a number of benefits when opening a trading account. These include access to a dedicated Priority Banking Relationship Manager who can help you with your trading needs. You’ll also enjoy preferential rates and fees, as well as priority processing of your trading requests.
When it comes to trading fees, Standard Chartered offers competitive rates. For example, the bank charges a flat fee of $10.70 per trade for trades up to $50,000. For trades above $50,000, the fee is 0.20% of the trade value. There are no custody fees or annual fees for trading accounts with Standard Chartered.
In conclusion, opening a trading account with Standard Chartered is a simple and straightforward process. Whether you’re a Priority Banking customer or not, you’ll enjoy competitive rates and fees when trading with the bank.
Investment Products and Market Access
When it comes to investing in Singapore, Standard Chartered’s online trading platform offers a diverse range of investment products. With Standard Chartered, you can access global markets and trade equities, fixed income products, and derivatives.
Equities and Securities Trading
Standard Chartered’s online trading platform provides access to 12 stock exchanges across 10 countries, including Singapore, the United States, the United Kingdom, Hong Kong, Japan, Australia, Switzerland, Netherlands, Germany, and France. You can trade equities and securities on these exchanges with a brokerage fee of 0.18% per trade for priority banking clients and 0.20% per trade for personal banking clients.
Fixed Income and Derivatives
In addition to equities and securities trading, Standard Chartered’s online trading platform also offers access to fixed income products and derivatives. You can trade bonds and other fixed income products on the Singapore Exchange (SGX) with a total market fee of 0.04%. For derivatives trading, you can trade futures and options on the SGX with a brokerage fee of 0.18% per trade for priority banking clients and 0.20% per trade for personal banking clients.
With Standard Chartered’s online trading platform, you can access a wide range of investment products and global markets, making it a great option for those looking to invest in Singapore. Whether you’re a priority banking client or a personal banking client, Standard Chartered’s brokerage fees are competitive, making it an affordable option for investors of all levels.
International Trading with Standard Chartered
If you are looking to access global markets, Standard Chartered is a great option to consider. With a presence in over 60 countries, including Hong Kong, Australia, Japan, Switzerland, the Netherlands, Germany, France, the U.S, and the U.K, Standard Chartered offers a wide range of services to help you invest in foreign markets.
Accessing Global Markets
Standard Chartered’s online trading platform allows you to easily access global markets at your fingertips. You can diversify your portfolio with global ETFs, REITs, and shares across 14 major stock exchanges on the go. To apply for an account, you can register for free on the online trading platform.
Once you have registered, you can start trading on the platform. Standard Chartered offers a range of trading products, including stocks, bonds, options, futures, and forex. The trading platform is available 24/7, so you can trade whenever you want.
Understanding Foreign Fees
When trading in foreign markets, it is important to understand the fees that you may incur. Standard Chartered charges a range of fees for its trading services, including commission fees, foreign exchange fees, and custody fees.
Commission fees are charged on a per-trade basis and vary depending on the market that you are trading in. Foreign exchange fees are charged when you convert one currency to another, and custody fees are charged for holding your securities in custody.
To get a better understanding of the fees that you may incur when trading in foreign markets, you can refer to Standard Chartered’s pricing guide. The pricing guide sets out the pricing information relating to the products and services that Standard Chartered may make available to you. For trading and investments, you may be required to pay certain fees and charges.
Overall, Standard Chartered is a great option for anyone looking to access global markets. With a wide range of services and a presence in over 60 countries, Standard Chartered can help you invest in foreign markets with ease.
Additional Charges and Terms
Transfer and Other Operational Fees
When trading with Standard Chartered Bank (Singapore) Limited, you may be required to pay certain fees and charges. These fees and charges are in addition to the brokerage fees that are charged for your trades.
One such fee is the transfer fee. This fee is charged when you transfer funds from your trading account to your bank account. The transfer fee is charged for each transfer and is a fixed amount per transfer.
In addition to the transfer fee, there may be other operational fees that you may be charged. These fees are charged for services such as account maintenance, statement requests, and other services that are provided for your convenience.
It is important to note that the fees and charges that are applicable to your account may vary depending on the type of account that you have and the services that you use. You should always check the fee schedule to ensure that you are aware of the fees that are applicable to your account.
Terms of Use and Guidelines
When you open a trading account with Standard Chartered Bank (Singapore) Limited, you are required to agree to the terms of use and guidelines that are set out by the bank. These terms and guidelines are designed to ensure that you are aware of the rules and regulations that govern your account and your trades.
It is important to read and understand these terms and guidelines before opening a trading account with Standard Chartered Bank (Singapore) Limited. Failure to comply with these terms and guidelines may result in the suspension or termination of your trading account.
In conclusion, when trading with Standard Chartered Bank (Singapore) Limited, you should be aware of the fees and charges that are applicable to your account. In addition, you should always read and understand the terms of use and guidelines that are set out by the bank to ensure that you comply with the rules and regulations that govern your account and your trades.
Frequently Asked Questions
What are the current brokerage fees for Standard Chartered in Singapore?
Standard Chartered Bank charges a flat fee of 0.20% per trade in Singapore. The minimum fee per transaction is S$10. The fees charged by Standard Chartered are competitive when compared to other brokers in Singapore.
How can one calculate the trading fees with Standard Chartered Singapore?
To calculate the trading fees with Standard Chartered Singapore, you can use the online trading calculator available on the bank’s website. You need to enter the trade amount and the type of security you are trading. The calculator will then provide you with an estimate of the fees you will be charged.
What’s the minimum account balance required at Standard Chartered Bank Singapore?
The minimum account balance required at Standard Chartered Bank Singapore varies depending on the type of account you hold. For personal banking clients, there is no minimum balance requirement. However, for priority banking clients, the minimum balance requirement is S$200,000.
Are there any withdrawal fees when trading with Standard Chartered Singapore?
Standard Chartered Bank does not charge any withdrawal fees for trading. However, there may be charges levied by the receiving bank or intermediary bank when funds are transferred internationally.
How do Standard Chartered’s trading fees compare to other brokers in Singapore?
Standard Chartered’s trading fees are competitive when compared to other brokers in Singapore. The bank charges a flat fee of 0.20% per trade, with a minimum fee of S$10 per transaction. Additionally, if you register as an Accredited Investor with the bank, you can pay a 0.15% rate with no minimum fee.
Does Standard Chartered Singapore charge a fee for telegraphic transfers?
Yes, Standard Chartered Bank does charge a fee for telegraphic transfers. The fee charged depends on the currency and destination country. You can check the bank’s website for the latest fee schedule.