Standard Chartered (SC) Online Trading is the online broker arm of Standard Chartered Bank Singapore Limited (SCBSL). I’m not sure how long SC Online Trading has been around, but SCBSL has a long history in Singapore (first Singapore branch opened in 1859!).
If you’re looking for a safe and reliable custodian broker, SC Online Trading might suit you since it is backed by one of the oldest and most well-known banks in Singapore.
You can find the link to SC Online Trading from the “Invest” tab on SCBSL website.
Key Features
SC Online Trading boasts the features below:
- Global access
- Low brokerage fees
- Smart & seamless trading
- Offers loan on your equities
Market Access
Investors can access 12 stock exchanges in 10 countries through SC Online Trading, i.e. U.S., U.K., Hong Kong, Singapore, Japan, Australia, Switzerland, Netherlands, Germany and France.
See full list below:
| MARKETS | STOCK EXCHANGES |
| United States | NYSE AMEX (ASE) NASDAQ (NMS) NASDAQ OTC (OTCB) NASDAQ OTC Issues (OTCQ) New York Stock Exchange (NYS) |
| Switzerland | SIX Swiss Exchange (SWX) |
| UK | London Stock Exchange (LSE) |
| Netherlands | NYSE EN Amsterdam (AMS) |
| Germany | Deutsche Boerse (XETR) |
| France | NYSE EN Paris (PAR) |
| Japan | Tokyo Stock Exchange (TSE) |
| Hong Kong | Hong Kong Stock Exchange (HKG) |
| Singapore | Singapore SE (SGX) Singapore SE Odd Lot (SGXO) |
| Australia | Australian SE (ASX) |
Fees & Charges
SC Online Trading doesn’t charge any ongoing fees like custody fees, but does charge brokerage fees for trades. Entry level clients start with a Personal Banking relationship, which are subject to minimum brokerage amounts. Priority Banking clients have the minimum brokerage amount waived.
See fees & charges below:
| Priority Banking clients | Personal Banking client | |
| Brokerage rate – SGX | 0.18% | 0.20% |
| Brokerage rate – all other markets | 0.20% | 0.25% |
| Minimum brokerage amount | $0 | $10 if shares are traded in AUD,CHF,GBP,SGD&USD ($10.70 with 7% GST) JPY1000 in JPY (JPY1070 with 7% GST) HKD100 in HKD (HKD107 with 7% GST) |
Priority Banking Eligibility
To enjoy the exclusive Priority Banking membership and all the benefits and privileges that come with it (e.g. lower brokerage rate and no minimum brokerage amount), simply maintain a minimum of S$200,000 in deposits and/or investments, or maintain a minimum of S$1.5 million in housing loans with us.
Safety & Regulation
Securities traded on SC Online Trading are held in custody, i.e. you don’t need a CDP account. You can separately request for a transfer to CDP but that would incur charges. So it’s prudent to look at SCBSL’s solvency just in case.
Standard Chartered Bank Singapore Limited (SCBSL) is a household name in Singapore. SCBSL is a subsidiary of U.K.-based Standard Chartered PLC (LSE:STAN), which is one of the world’s 100 largest banks (2022) according to S&P Global.
In Aug 2020, SCBSL were the first foreign bank to be awarded the Significantly Rooted Foreign Bank (SRFB) status by MAS, which comes with additional privileges in recognition of the significantly higher degree of rootedness exceeding the SRFB baseline criteria.
Taking a cursory glance at SCBSL financial results for 2021 (can be found here), SCBSL is pretty profitable, with profits in 2021 increasing substantially YoY.
In the same report, SCBSL also discloses their Capital Adequacy Ratio as required by MAS.
IMO, I would consider SCBSL as close as it gets to a 4th local bank in terms of safety and regulation. I think it’s highly unlikely that SCBSL will just up and leave Singapore overnight. Of course please DYODD, anything can happen.
UI/UX
SC Online Trading’s UI/UX is pretty simple and rudimentary, which is not unexpected of a traditional bank’s trading platform. This is probably one of the worst parts of using SC Online Trading vs the many newer online brokers like Tiger, moomoo, or Syfe Trade.
Most of the information on the platform are displayed in tables instead of charts. The tables are pretty dead as well. You can’t even sort the fields.
There are several tabs where you can find your portfolio holdings, historical trades, market quotes, set alerts, indices, stock summary, news, calculator, announcements, and corporate actions. Pretty basic stuff, nothing fancy.
My Personal Experience & Take
I’ve been using SC Online Trading for more than a decade now, since before all there low cost brokerages appeared and proliferated. Back then, SC Online Trading was attractive because their trading fee was considered low at $10 vs other local brokers.
Although I was mostly trading SGX stocks back then, SC Online Trading also allowed me to easily access overseas markets at affordable fees. So when I ventured into the US market afterwards, I just stuck to SC Online Trading.
Prior to qualifying for Priority Banking pretty recently, I started trading a bit more on low cost brokers like Tiger, moomoo, and Webull to reduce my transaction costs. Since under Priority Banking, trades are no longer subject to minimum brokerage amount (which my trades are usually subject to), I’ve been moving more trades back to SC Online Trading.
The other reason is that SC Online Trading allows for joint trading account with spouse, so my wife has access to the account too and facilitates estate planning.
If you place more importance on greater peace of mind, have at least $200k you don’t mind transferring into SCBSL, and don’t mind relatively basic platform features, SC Online Trading might be a good candidate as your main online brokerage platform.
Promotion & Referral Link
From now till 31 December 2022, sign up for a new SC Online Trading account through my link to enjoy up to S$200 brokerage fee rebates. Thank you in advance for supporting this blog!
Criteria to qualify for the referral reward:
- You must be referred via a unique URL referral link to sign up for a new SC Online Trading account during the Promotion Period
- Successfully open a new SC Online Trading account using the referral link and submit it via the MyInfo SingPass application portal
- Once the account is opened, perform a ‘buy’ transaction using the SC Online Trading platform within 14 working days from the account opening date
- Other terms and conditions apply (can be found through my referral link)
Details of the referral reward:
- 100% brokerage fee rebates for all ‘buy’ transactions performing within three calendar months form the account opening date (capped at SGD200 or its equivalent in other currencies)
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Disclaimer: This is not financial advice. I am not professional financial advisor nor do I work in the finance industry. Anything I write here is purely my personal opinion. Please do your own research and due diligence before investing into anything. All investments come with associated risks. Best to consult a financial advisor if you’re still unsure.
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- Standard Chartered Online Trading: Referral link
- FSMOne: Referral code P0267058
- Tiger Brokers: Referral link | Review
- Futu SG (moomoo app): Referral link | Review
- Webull: Referral link
- Syfe Wealth & Syfe Trade: Referral code FINANCEGNOME | Referral link | Review
- Endowus: Referral code J5HPB | Referral link
- CoinHako: Referral link
- Crypto.com: Referral link
- Portseido: Referral link
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Disclosure: This post may contain affiliate links and I may get a commission when you click on the links or open an account through the links, at no additional cost to you. I only recommend products or services that I have personally tried and have found useful.