No need SG account. Philip SG, Maybank KE all can open without the need for bank account.

According to Phillip can. But I told them not interested. Only want your UT account.

sugarcookies check my reply above. You don't need a bank account (in the event SG banks refuse you)

Those are brokers which can open up account for you without a bank account. Yes. Need to do in SG. You can apply for Maybank KE/Philip SG via Malaysia but you need commisioner of oath.

gark, do you think I can lodge complaint with MAS against SCB SG for preventing me to open brokerage account?

I have my documents everything but they refuse to open for me because
(i) I am not working/studying in SG

Thanks. Sad to hear that. I don't need their esaver but it's compulsory to open esaver if want their brokerage account.

I don't want esaver account. But to open their brokerage, its compulsory to open an esaver account or else they won't let you open a brokerage account.

What is there to link when they refuse to open account for me? SGD1k is easy enough for me to maintain. Right now I am maintaining my DBS MCA at SGD3k/month. Will use United Asian HY Bond fund to pay them off come March.

Already did. Right now because DBS V is SGD5/trade (SGD10 with SGD5 rebate), I will buy using DBS V first, After promo over, switch over to MKE. Whatever buy with DBS V stay with DBS V and won't be switched over to MKE (If switched over to MKE, waste of my money buying with DBS V at SGD5 as Maybank charges SGD10.60/counter transfer in).

So after DBS V promo over and fees is back to SGD18, will stop buying from them. Will use MKE to buy instead at SGD10 (MKE promo is until end of the year. Come January next year, I think all broker will have promo again ).

SCB will open once I can prove to them I have income (that's all one branch need to open account with them). Then when I can open brokerage account with SCB, consolidate all shares from DBS V and MKE into SCB since SCB absorb all transfer in fees. Get the best of both world. SGD5/trade + SGD10/trade + free transfer in. Only if SCB allow me to open account with them.

It's not complicated. Just buy from whichever broker offer the cheapest rate lo. Just like shopping for item A (stock). You have selection of Tesco, Giant, Aeon (brokers). Pick one which give the cheapest deal for item A.

Will not go for them as they charge maintenance fee.
http://www.utrade.com.sg/page/site/public/...SG_FAQPlus.html
http://www.utrade.com.sg/page/site/public/...SG_FAQEdge.html

Same case with OCBC
https://portal.iocbc.com/assets/pdf/ospl/EP...ation_Sheet.pdf
I am totally against anything which charges platform/maintenance fee

How to transfer USD from my DBS MCA to trading account in DBS Vickers? Can use EPS?

They charge you if your total value (USD, AUD, SGD, HKD, ...) totaled up less than SGD3k. And fall below fees is SGD5/month. It's not SGD7.50.

From what AIYH taught me, you can use United Asian HY Bond Fund to pay the fees. Just make sure you park enough money in the DBS account for them to deduct (for 1 year = SGD60). The remaining dump into United Asian HY Bond Fund. Assuming United Asian HY Bond Fund continue to give 10%pa, you will get extra SGD60+ after minus DBS fee.

Note: Haven't have the guts to try it

I need the DBS MCA for future transactions (USD, AUD, HKD, GBP). Besides it's better to have a local SG bank (one of the 3s) than rely on Maybank, CIMB SG.

This post has been edited by Ramjade: Mar 1 2017, 07:41 PM

DBS - just leave SGD120 inside for them to deduct
Cimb - FOC. No fall below fees
Maybank only SGD500.

Total = SGD620 only.

This post has been edited by Ramjade: Mar 1 2017, 07:45 PM

Well better to leave some of my money inside there for them to deduct then leave full SGD3k inside there not earning anything. What's SGD60 (I will put SGD120 so that there is more than enough for them to deduct)/year when one can earn potentially more than that with the SGD2880?

Of course, I will allocate some for SGX crash like what sifu ele88 is doing.

Where you can save you save. Where you cannot save, don't save.
- SGD18 vs SGD10, that one you can save
- 0.1%pq platform fees vs 0% platform fees

These are small savings which one can save.

1. People are smarter nowadays. Why should a 0.25% increase bother people when most REITS have fixed interest rate at ~80+%
2. People dump REITS because they expect US to rise interest drastically.
3. There's no financial crisis which involves bank.
4. Even if it's 50%, Feds are known to cry wolf. If say expectation is at 75% then maybe you will see something.

This post has been edited by Ramjade: Mar 3 2017, 11:23 AM

Ok. Noted. Hopefully it will drop when I topped up my bullets into my SG SA.

This post has been edited by Ramjade: Mar 3 2017, 11:42 AM

Guys what's your opinion about this.

http://investmentmoats.com/stock-market-co...stment+Moats%29

Once ECRL is operational, SG ship industry will be affected. We saw how oil affects the shipping industry which in turn affects the banks.

Not to mention the roads which China cut through asia to Pakistan.

What do you guys think will happen to SG economy?

This will definitely affect malaysia too. Time to focus on Thailand?

I think one need to look at all things from all angles to be prepare and never let small things slip through.

Small things may/can cause you opportunities.

This post has been edited by Ramjade: Mar 7 2017, 08:30 AM

ECRL might not be a big impact. But with china cutting roads throughout asia and and planning to cut through thailand (bypassing straits of malacca completely) definitely something have to give.

Yes, they might be smoke and noise, but it helps to plan the next move should such actions cost SG a chunk of their economy.

This is beyond what MAS can control. They can't force china not to cut through thailand or asia.

Anyway, we will see what happen in five-ten years time to see impact towards Singapore economy.