31 May 2016

Standard Chartered to raise minimum brokerage charge to S$10 per trade

Standard Chartered Online Brokerage has been one of the favourite brokerage by most traders. This is because SCB offers a no. minimum commission charge for any buy or sell orders.

That is to say, you can now save costs by buying a 100 shares as it won't slap you with a minimum charge of S$25 to S$27.50 depending on brokerage house. Not only that the commision is also lower at 0.18% or 0.20% compared to 0.25% to 0.275/0.28% on other brokerages.

Unfortunately, this is coming to an end in Jul 2016. From 1st August 2016, Standard Chartered will be charging personal banking customers of SGD 10, HKD100 or USD 10 for various trades in the respective currencies.

The brokerage fee remains at 0.18% for Priority Customer and 0.20% for Personal Banking Clients.

Shares bought using the SCB platform is custodian by Standard Chartered and you cannot sell it through other brokers as the shares are not held by CDP.. Custodian fees is remain FREE.

Alternatively, you can transfer your shares out to another broker if you feel that you can get a better fee than Standard Chart. Let me know if you know of any.

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