divinepapa
commented on a stock · Aug 6, 2022 11:01
For your awareness... Custodian fee sgd2 per quarter
$UP Fintech (TIGR.US)$Tigerbrokers will charge sgd 2 per quarter of custody fee on trading account that have no transaction in sgx wef 1 July onwards. Decided to Close my account then experiencing the below...
1. Funds retention that i felt is absurb during withdrawal. Foreign Exchange ie. Usd stock traded completion require 3-5 days then only into sgd. Upon sgd will need another 3-5 days before could transfer into sg bank account. Closure of trading account then require another 5-7 days of last transaction (incldg withdrawal from trading account fund to sg bank account) only can initiate closure of account. Which mean from last foreign transaction till allow initiate closure of account will require at least more than 14 days (to be sure).
2. Long term trade on foreigner share/stock need to fork out fee to retain if non sgx.
3. Balance of foreign currency below 1.00 (no decimal point allowed even in usd) cannot exchange into sgd...... So basically you need round up to usd1 either top up or get burned.... Walao ehh..
I tried to close trading account only found all these surprises.... What a shock as never experienced from investment bank trading account leh....
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LuckyPiggie : waaaaa ... so u now only use moomoo ?
LuckyPiggie : what happen to your stocks , transfer or sell off ?
divinepapa OP LuckyPiggie : My major still investment banks since they are some years.
divinepapa OP LuckyPiggie : Well the timing was ok. Volatilities expecting weak market except meme stock. Big eye on potential big wave recession hit was timed that suggesting go Back on short term trade. Say you leh.... Cut huge losses on tencent exited 368 but assisted by jd 252 and BY lo.
divinepapa OP LuckyPiggie : Yhe charges on transfer usd500 will incirred by tiger
LuckyPiggie divinepapa OP : wow caught the 10cent recent high ... expert !
divinepapa OP divinepapa OP : Incurred
divinepapa OP LuckyPiggie : Re-entry 292 on other platform... Futu hk
LuckyPiggie divinepapa OP : u mean if transfer e.g. from tigr to moomoo ..amt over usd500 incur charges ?
divinepapa OP LuckyPiggie : Yup.. I did try to apply.
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