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Standard Chartered Online Brokerage Review: Does this Platform Rank Well?

Standard Chartered's online brokerage offers clients access to 9 international markets at standard fees

Standard Chartered Online Brokerage Review: Does this Platform Rank Well?

Standard Chartered's online brokerage offers clients access to 9 international markets at standard fees

3.5/5.0

ValueChampion Rating ValueChampion Icon

Pros

  • 9 international markets
  • Premium investing accounts for advanced traders

Cons

  • Not the lowest fees in Singapore

Standard Chartered's online trading platforms allows customers to access a range of products in several international markets. However, without offering market beating rates or market access, Standard Chartered's online brokerage doesn't stand out among its competitors.

Summary of Standard Chartered Online Brokerage
Access to 9 international markets
Low eligibility requirements for account holders
Average commission fees of 0.18% and 0.20% per trade
Minimum trade amount of S$10
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Table of Contents

What Makes Standard Chartered Stand Out to Investors

Standard Chartered stands out due to its large international market access of over 15 stock exchanges and 9 markets worldwide. With a standard and premium account available, they offer a variety of investment products to serve both active and passive investors. Yet for those who want the cheapest rates in Singapore or the most market access abroad, there are other investment platforms which might work better for you.

Investment Opportunities at Standard Chartered

Standard Chartered offers different trading accounts for priority banking clients and personal banking clients. Priority clients must deposit a minimum of S$200,000, and will benefit from a reduced brokerage fee of 0.18% per trade in Singapore. Personal banking clients, however, do not require a deposit minimum and will have to pay 0.20% per trade. A priority account is a better option if you intend to invest a large sum of money, though these rates are still average compared to some of the leading rates of 0.08% per trade.

With either account, you can choose to invest in company shares listed on the SGX and other stock exchanges, ETFs, and company warrants. The brokerage also offers a variety of products with a large quantity of international markets you can trade with. The lists below showcase the products and markets you are able to invest in with Standard Chartered.

  • Unit Trusts: Unit Trusts allows online traders to invest in over 300 funds managed by fund houses. Not only do these spread risks out, but Standard Chartered account holders can invest with cash or savings, making it a good option for those who want managed investment services.
  • Premium Currency Investment: With premium currency investment, you can invest in up to 60 different pairs of currency exchanges with Standard Chartered. Also, with investment periods as little as one week, this product is good for short-term investors who want to invest in the foreign exchange market.
  • Structured Deposits: These pre-packaged diversified portfolios are low-to-medium risk, and come without any annual fees or front-end fees. These products could be good for consumers who want their principal investment returned and have a medium-to-long investment horizon.
  • Wealth Lending: This tool allows Standard Chartered online trading customers to take a loan against their equity, giving them a higher return on their investment over a longer period of time.
  • United States
  • Switzerland
  • UK
  • Netherlands
  • Germany
  • France
  • Japan
  • Hong Kong
  • Australia

Standard Chartered Fees

Standard Chartered only charges a S$10 minimum trading fee, and they do not charge custody fee like other platforms. That being said, their commission fees hike up the overall price of the service. The table below illustrates the fees you could expect to pay with Standard Chartered.

Personal Banking ClientsPriority Banking Clients
Commission Fee for Singapore0.20%0.18%
Commission Fee for International Markets0.25%0.20%
Minimum Brokerage AmountS$10 (for SGP, AUD, CHF, GPB & USD)S$0
JPY 1,000, HKD$100

When comparing the online trading market we found other firms like Tiger Brokers have a 0.08% commission fee per trade and a minimum brokerage fee of S$0 (until December 31st, 2020, thereafter— S$2.88). Traditional banks like Maybank, CitiBank, and RHB, on the other hand, have commission fees ranging from 0.18%-0.27% and minimum fees of S$25-S$28 per trade. Thus, while Standard Chartered is not the cheapest, it is neither the most expensive brokerage.

Standard Chartered Investor Eligibility Requirements

Consider this if you want to trade online securities with a bank

To be able to trade with Standard Chartered, you must already have a Standard Chartered savings or checking account under your name. If you do not have an account yet, you can easily apply for one online, granted you are over 18 years old.

To start using Standard Charter's online trading facilities, you have to submit an online application with your SingPass. You should hear a decision within 3-5 working days, and can transfer funds to the account right after acceptance. Therefore, while Standard Chartered has some attractive features, those seeking the lowest fees or most market access might wish to consider other online trading platforms.

Stephen Lee

Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.