You should not be choosing a broker just because it has the lowest commission charges.
Other factors such as ease of transfer of funds from your bank account to broker account and return after sale should also be considered and where to make a complaint in case of problems arising also matter.
(11-02-2015, 11:57 PM)soros Wrote: [ -> ]You should not be choosing a broker just because it has the lowest commission charges.
Other factors such as ease of transfer of funds from your bank account to broker account and return after sale should also be considered and where to make a complaint in case of problems arising also matter.
I would rather prioritize on the counter-party risk instead.
(12-02-2015, 09:21 AM)CityFarmer Wrote: [ -> ] (11-02-2015, 11:57 PM)soros Wrote: [ -> ]You should not be choosing a broker just because it has the lowest commission charges.
Other factors such as ease of transfer of funds from your bank account to broker account and return after sale should also be considered and where to make a complaint in case of problems arising also matter.
I would rather prioritize on the counter-party risk instead.
Counter-party risk is top priority but when is our local brokers or foreign ones become our counter-party. That's why i have my reservations about using SCB the cheapest broker around. i don't feel comfortable unless CDP is my custodian. So are the many (discounted in brokerage fees) Cash-Up-Front account brokerages, who will be your custodian of the shares purchased except "CUF" DBS Vickers which still use CDP as your custodian.
Go and find out what happened to clients's shares when LEHMAN BROTHERS went kaput, who was then custodian of many broking accounts. It was not easy to get back your shares then.
Wasn't there news recently that SCB was closing down its equities business?
SCB will begin charging minimum brokerage fees ($10) starting on 1st August 2016.
Any new brokerage recommendation for investors who dollar cost average his investments?
(01-06-2016, 09:40 AM)Wildreamz Wrote: [ -> ]SCB will begin charging minimum brokerage fees ($10) starting on 1st August 2016.
Any new brokerage recommendation for investors who dollar cost average his investments?
so indeed stanchart downsizing their equity business?
is this a sign of more fee to come e.g. custody fee which they presently dun charge.
(01-06-2016, 01:55 PM)pianist Wrote: [ -> ] (01-06-2016, 09:40 AM)Wildreamz Wrote: [ -> ]SCB will begin charging minimum brokerage fees ($10) starting on 1st August 2016.
Any new brokerage recommendation for investors who dollar cost average his investments?
so indeed stanchart downsizing their equity business?
is this a sign of more fee to come e.g. custody fee which they presently dun charge.
Silver lining is there is still no minimum charge for Priority Banking Clients (>S$200k banking relationship).
However, silver lining only applies for people with silver spoons haha
Be careful with the SCB minimum brokerage amount. If you place multiple trades for the same stock and with the same action, these trades will NOT be amalgamated.
You will have to pay $10 min for each and every order placed.
Another consideration is the jurisdiction of the foreign broker where they are domiciled as Singapore Laws may not apply.
Read all their conditions before any commitment of funds. I will stick to local brokers for the peace of mind and reliability based on the past 22 years experience.
Any opinion which retail broker is good for stock borrowing? (not CFD)