Online Trading Frequently Asked Questions
A. ONLINE TRADING ACCOUNT RELATED MATTERS
- How do I apply for an Online Trading account?
Please obtain an Online Trading application form from the branches. Alternatively, you may request for an application from the Online Trading hotline at 1800 242 5333.
- Will I be given a separate Online Trading User ID and password?
Your Online Trading User ID and password is the same as your Online Banking User ID and password. Through your Online Banking Login, you are able to view all of your banking accounts, including all of your Online Trading accounts.
- How can I start trading?
If you are our existing Internet Banking customer and already have an Online Trading account with us:
- Log on to Internet Banking
- Choose the "Online Trading" icon from the menu on the left
- Read through the Terms and Conditions for Online Securities Services and click "Accept" (for 1st time login user) to acknowledge the acceptance of the Terms and Conditions for Online Trading
- You will be able to start trading thereafter
If you do not have an Online Trading account and would like to open one, please visit any of our branches to and speak to a Relationship Manager.
- How many Online Trading accounts am I allowed to open? How am I able to view my holdings?
There is no restriction to the number of Online Trading accounts that you are able to open. You are able to view your holdings online via the Online Banking link on Online Banking.
- Will I receive any account statements?
You will receive two types of statements:
- The monthly consolidated statements which display your holdings with SCB;
- The securities monthly statements which display the detailed transactions relating to your securities trading account(s).
- Am I able to customize my Online Trading pages?
Yes, you are able to perform some customization to fit your preferences. This includes but is not limited to view, news alerts, landing page and preferences.
- How do I confirm that both my application and account opening have been successful?
You will be notified of the Online Trading account opening by mail. Subsequently, you will be able to see the Online Trading link on Online Banking.
- How secure is trading via Standard Chartered Bank?
This service employs the 128-bit Secure Socket Layer (SSL), which is one of the strongest encryption technologies most commonly used by large-scale online merchants, banks and brokerages worldwide. All online sessions between you and the bank are protected by 128-bit encryption and above, which best protects your information against disclosure to third parties.
B. ONLINE TRADING RELATED MATTERS
- What does SCB's securities trading services offer?
It provides the following key features:
- Quick access to a wide range of global markets
- Comprehensive order types such as Market Orders, Stop Loss Orders, Limit Orders, etc.
- Instant order confirmation via email or SMS
- Comprehensive securities portfolio overview
- Securities portfolio watch list
- Price watch alerts
- Instant available purchasing power
- Detailed stock quotes for all exchanges
- Latest market news
- 24hours/7 days access
- What markets do you offer and what are their trading hours?
- How do I add markets that I have not opted for initially? Can I call in to opt for new markets to trade?
Requests to add markets for trading can be done easily at any of our branches. Alternatively, you may speak to your Relationship Manager.
- Which type of securities can I trade / not trade online?
You can trade most securities that are listed on the markets and exchanges that we offer. This includes stocks and ETFs.
- Standard Chartered Bank safe-keeps securities purchased via our Online Security Trading platform as a nominee. What rights/ claims does Standard Chartered Bank have over the Securities placed under the Bank's custody?
The bank acts as a custodian to the Securities. While you remain the beneficial owner of the securities, please bear in mind the bank has certain rights over the Securities. For more information, please refer to Part E of the Investment Product Terms available HERE.
- Am I able to get the latest news? Are there fees imposed for price quotes and news feeds?
The latest market news is available after you access your account via the Online Banking Login. There are no fees being levied for price quotes and news feeds. All price feeds are real time quotes direct from the various exchanges unless price feeds are delayed (which will not exceed 30 minutes).
- Are there other channels available for trading besides trading online?
Yes, you also have the option to trade via your Relationship Manager. Do note that charges differ when trading via your Relationship Manager.
- Can I place an order outside trading hours?
Yes you are able to place orders anytime during the day. However, do note that orders that are placed outside the exchange trading hours will be accepted only upon the reopening of the trading hours. Such orders will be queued on a first come first serve basis.
- What type of orders am I able to place?
|Day market buy and sell orders
- Order is valid only for the current trading session during which a target execution price has not been set by you.
- Such orders will then be executed at the then prevailing market price at the point of execution.
|Day limit buy orders
- Order is valid only for the current trading session during which a target (limit) execution price has been preset by you.
- Such orders are valid up to the limit execution price.
|Day limit sell orders
- Order is valid only for the current trading session during which a target (minimum) execution price has been preset by you.
- Such orders are valid when the minimum execution price is reached.
|Next day orders
- Orders which you place that are valid for the next day trading session.
|Stop loss sell orders
- Used in a scenario for you to set the maximum tolerable loss by allowing you to set an upper stop loss trigger and lower stop loss trigger.
- Order is valid only after the prevailing market price falls below the upper target trigger preset by you and is invalid once the prevailing market price reaches the lower target trigger.
- Will my orders be sent to the Bank instantly once I have keyed my orders into the system?
Once your orders are submitted, your orders will be sent to the Bank instantly. Steps to enter orders:
- Order Input Screen will prompt you enter all order details.
- You need to click the "Submit" button to bring you to the next page.
- Order Confirmation Screen will display all information you have entered for your verification.
- You need to click the "Confirm" button to continue.
- Order Acknowledgement Screen will show you all the details of the order you have submitted (including the estimated transaction cost and fees).
- An Order Reference Number is generated and shown for your reference.
- How do I know the Bank has received my orders? How do I check the status of my trades?
After you have entered and confirmed the order/instruction details, an Order Acknowledgement Screen with an Order Reference Number will be displayed. This means that the Bank has successfully received your orders but it does not guarantee that your orders will be executed nor executed in a timely manner in the market.
The Bank will process your orders on a best effort basis. Your orders may NOT be executed due to fluctuations in stock price, insufficient market liquidity, system failure or any other events beyond the control of the Bank. It is a good practice and your responsibility to check your order status through the "Order Enquiry" and “Transaction Enquiry” pages.
- How do I ensure the Bank will process my orders which are not yet done? What happens to my orders if they are not done by the end of trading day?
The Bank will process your orders as long as they are valid. Orders remain valid until they are cancelled by you or have expired by the end of the trading day.
- How do I know my orders are executed or rejected?
You can enquire the status of your orders through "Order Enquiry" page or enquire the same via Phone Banking. Below is the order status description:
||This means your order has been received by the Bank and are pending updates in trade status
||This means your order is successfully accepted by the Bank and is open for execution, cancellation or amendment.
||Order has been partially executed
||Order has been fully executed
||Order has been rejected
||Order has been cancelled
||Order has been expired upon pre-set validity
- Can I sell the stock I buy today? Can I amend or cancel an order?
You can sell the stock before settlement date as long as you have sufficient quantities in your securities holdings. Order amendments or cancellations made during trading hours will be handled on the same trading day upon receipt of instructions provided that the order has not been fully executed or cancelled. For partially executed orders, amendments or cancellations will apply to the unfilled order only.
Please note that before an amendment request has been duly processed, we cannot entertain further amendments on the same order. Once a cancellation instruction is placed, you cannot withdraw your cancellation instruction or make further amendments to the same order. Acceptance of any amendments is subjected to acceptance from the respective exchanges.
- What kind of amendments can I make to an order that I have placed on Online Trading?
You can make amendments to the order quantity, price and order type.
- Is there another way to amend or cancel my orders placed on the Online Trading System if I am not logged on to the system?
No. You can only amend or cancel your orders online.
- Can I short-sell? Can I place a trade without pre-funding?
No. the Online Trading system prevents you from short selling or placing a non-funded trade.
- What does "Available Purchasing Power" mean? Will there be any adjustment of hold fund after the order is executed?
Available Purchasing Power is the available funds you can use to purchase securities. It is derived by taking into account available cash balance in your settlement account and considering any monies pending settlement from either a buy or sell transaction. The requisites for trading are sufficient purchasing power and securities holdings. Hence it is not possible to place Buy orders without sufficient funds. You will also not need to worry about short-selling and subsequent buy-in scenarios for the same reason.
On the order execution date, hold fund will be adjusted at night according to the actual debit amount. The exact amount will be debited from settlement account on settlement date which is generally 3 days after trade date for most exchanges. Trades involving the Hong Kong and Germany exchanges are settled on a trade date plus 2 days basis.
- When do I get paid for the securities that I sold?
You will be paid on settlement date however your purchasing power increases immediately once the SELL trade is filled.
- Can I trade securities I purchased from other brokers?
No you are not able to.
- Can I transfer my securities holdings from an external broker to SCB?
Yes you can. Please contact your Relationship Manager for assistance.
- Will I receive any instant trade notification after my orders are executed?
You will receive SMS and/or Email confirmation when your order is partially or fully executed. Please ensure that you provide your up- to- date mobile numbers and email address to ensure that you receive all trade notifications. Please note that for joint-name accounts, only the Primary Account Holder will be notified of the order confirmation.
- Will there be contract notes given on top of the instant trade notification?
Yes contract notes will still be given. Please ensure that you provide your up-to-date mailing address to ensure you receive your contract notes.
- What are the trading charges and custody fees?
Please refer to the link posted on the Information Centre for details of trading charges for the respective exchanges as well as the respective exchange charges.
- What is the minimum number of shares I can trade online?
The minimum number of shares you can trade online is determined by the respective exchanges.
- Will I be informed of any corporate actions (dividends)?
The Bank will notify you of any corporate actions via your Relationship Manager. You will also receive a notification letter. If you receive cash, the dividends will be credited to your Securities Settlement Account and will be reflected in your monthly consolidated statement. If you receive shares, it will be reflected in your Online Trading Account.
C. SECURITIES SETTLEMENT ACCOUNT RELATED MATTERS
- What is the purpose of having a Securities Settlement Account?
The Securities Settlement Account is a separate, dedicated cash account used to cater to all of your Online Trading needs. Its intention is to separate monies required for trading and monies resulting from your Online Trading activities from your day to day cash requirements (such as credit card payments, utilities payments, etc).
- Is there a minimum balance requirement needed to operate a Securities Settlement Account?
Are there any monthly fees or an initial account opening deposit requirement?
There is neither a minimum balance requirement nor monthly fees nor an initial account opening deposit requirement.
- Will the Securities Settlement Account be interest bearing?
Yes there will be nominal interest paid out on the balances in your Securities Settlement Account.
- Are there any cheque books or ATM cards?
As this is meant for your Online Trading activities, no cheque books or ATM cards will be issued with the Securities Settlement Account. However, you can transfer monies into your other Standard Chartered Bank cheque and save accounts in order to write cheques or make ATM withdrawals.
- What modes of funds transfer are permitted to and from a Securities Settlement Account? Am I able to deposit a cheque into the Securities Settlement Account?
There is no restriction to the modes of funds transfer into or out of your Securities Settlement Account from or to your other SCB accounts. You can arrange for funds transfer either through our branches, Internet Banking or Phone Banking. However, you are not able to deposit a cheque directly into the Securities Settlement Account.
- How do I view balances in my Securities Settlement Account?
Will there be statements provided?
You can view and query your balances through Online Banking or Phone Banking. Balances in your securities settlement account will be reflected in your monthly consolidated statements. You will be given eStatements if you have opted for them.
- How many Securities Settlement accounts must I open?
You need to open an account that corresponds to the currency that your trade is in.
- If you choose to trade in USD and SGD, you will require a USD and SGD securities settlement account to be opened.
You are allowed to tag the Securities Settlement account to only one Online Trading account and the mandates of both Securities Settlement account and Online Trading account must be the same.
- You have a joint Online Trading account and a single Online Trading account. You will have to open 2 sets of joint Securities Settlement account and single Securities Settlement account to be tagged to your respective Online Trading accounts.