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Stock Brokage - Please help a NOVICE!
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maxsyn
Veteran |
26-Jan-2007 23:05
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if only everyone queueing at a same price, you may be an early bird bt attempt to beat the time, but it someone enter ask or bid price better than you, that it, you are behind. |
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Simonloh
Member |
26-Jan-2007 19:16
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To : SHPlayer and all readers, Hi ... does anybody knows the "EXACT TIMING" for keying order for the next market day for the various brokage house ... ? Currently, I am using POEMS, they only allow online key in new order after 1715 hrs "SHARP" ( Can be later but NOT early ). As you know, if you want to get in front of queue, timing is very important, every second and minute counts ... ! Can anybody provide infor for the following brokage house : 1. Phillips ( POEMS ) = 5.15 pm SHARP. 2. DBS Vicker = ? 3. iOCBC = ? 4. UOB KayHian = ? 5. OR Any Others brokage houses that you may have timing infor ... ! Appreciated ... ! ( Simon ) |
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media2368
Member |
26-Jan-2007 18:22
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Hi All, Thanks for the advise. I have registered with UOB Kayhian, they will assign me a broker and it has online trading. Now waiting for their letter of approval of the trade account. I was in a rush while I register and I forgotten to check with them what is the brokage fee per trade by using Broker as well as Online trading. Does anyone here know about this? I read somewhere that some stock trading firm charge min. $25 per trade so if buy+sell will be $50. Is that standard? Hi elfinchilde, you mentioned that "min $45 per trade currently". May I know which Stock trading company charge at this rate? |
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iPunter
Supreme |
26-Jan-2007 00:20
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I amended my trade to take into account the charging Dow last night, but who knows the STI can instead dive? |
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shplayer
Elite |
25-Jan-2007 23:42
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elf, For someone like you who is IT savvy, you should really consider online trading. I have not regretted it since I made the switch about 18 months ago. For one thing, cost is lower....as long as I trade more than $9000, my buy/sell cost is about 2/3% (0.67%). Consider this, if you buy at $1.00 and sell at $1.01 (1 bid up), you are already in the money. Another advantage is, I can put in my orders from 1706 hours for the next day's trade. This way, you will be amongst the first in the queue the next day. Of course, to mitigate risks of overnight market developments, I always review (and make changes - if necessary) my trade entries before market opens the next day With online trading, you still need to be backed up by a broker...and as rogue-trader said, you can still get the benefits of his/her service by asking him/her to monitor stocks for you. |
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rogue_trader
Master |
25-Jan-2007 22:26
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Using reminser/broker got its pros and cons. One bad point about using them is more expensive compare to self-online or self-telebroker trading. But this is useful to some aunties/uncles who dunno how to use them. But if one look at it the other side, one can instruct those reminsers/brokers to give you a call if a particular counter had fallen/risen to a certain pricing. For me, I had 3 reminsers but I never used their services in executing my trades. But they will inform me when I tell them to help me monitor any counters. Plus the facts that every now and then they will forward me any info/reports on any counters. If your reminser had a powerful clientele based, they can "formed" a "syndicate" to "play" the market, but be cautious of being played-out. And for reminsers, you can negotiate your contra days, normal is T+3, but mine T+6. |
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media2368
Member |
25-Jan-2007 21:24
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Hi All, Thanks for the advise. I will call up to those brokerage company and find out more information. |
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elfinchilde
Elite |
25-Jan-2007 14:28
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hi media2368, internet brokerage some of the guys here will help you out with; that's not in my knowledge, but for live brokers (that's my term for them), in addition to hughsh's post: commission charges: min $45 per trade currently or 0.5%, whichever is higher (so trade above 9k each time more worth). in addition there's like plus 10%, 5%, 3% etc charges. A figure that works for me is to add 1.2% to my buy price (assuming above 9k each time), have found that this about equates to brokerage charges. alt is to take 2c. rather on the high side but i prefer overestimating costs than overestimating profits. |
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hughsh2004
Member |
25-Jan-2007 13:52
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remisier / trading representative / dealer may act as a contigency backup in case internet trading services are 'screwed up' sometimes... |
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hughsh2004
Member |
25-Jan-2007 13:48
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hi media2368, currently I hv trading a/cs maintained with OCBC securities, FraserDirect & GK GOH, no min. amt of deposit required. Just bring along your NRIC / passport, & u need to provide your company's name, address, etc when filling up the form. Do opt for internet trading facilitiy & EPS (electronic payment for share ) facilites on the application form. It take about 5 working days for any of the securities to mail you the trading a/c no. & CDP a/c no. , which then another 1 or 2 days u'll rx your Internet trading a/c password. |
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tanglinboy
Elite |
25-Jan-2007 13:44
Yells: "hello!" |
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Why need a dealer or remiser? Just use Poems or UOB Kayhian. Its online and the commision fees are cheaper than using a broker. |
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media2368
Member |
25-Jan-2007 13:40
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Hi All, I am a novice here. Currently I looking for dealer/remiser that can help me to buy/sell the shares/stocks. Any recommendation? Another question is: Does all Stock & Shares Trading film require Investor to put certain amount of deposit to open an account to trade? Who are those that NO Deposit required? I will appreciate if anyone here can help. Thanks a million. |
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