21 November 2013

Introduction to New Shares Investors - Trade Key In (November 2013)

Since I have became remisier two years ago, I have met quite a few new clients who do not have any ideas on investing. In this post, I would like to share with you on how to key in trade through Smart Phone / Desktop Application instead of calling remisier to put in trade.

Some benefits of putting trade yourself instead of calling remisiers are:

  • Save Execution Costs - You can save a big chunk if you are a heavy trader. Even if you are not, you can still achieve better result by saving the execution costs in long run. You may find a number of broking firm providing you a simple yet easy to use application to put in trade and monitor your stock portfolio. 
  • Save hassle of not being able to reach remisier, especially during peak hours. You can simply putting the trade in queue even before the market is opened. 
Of course, you may also loose a chance to get remisier's advance as it would become DIY service. Nonetheless, if you think you can get a better result without remisier's assistance, you may just focus on DIY service. Let me explain the field that you need to fill in in order to get the trade done.

Counter Name: The shares that you want to Buy or Sell. You may get it from the Searching Field.
Action: Buy or Sell. Please be extra cautious when selecting Buy or Sell.
Payment Mode: Cash, SRS, CPF. You have to get your SRS/CPF Investment Account linked first before putting any SRS/CPF trade. You may contact your dealer/broker on this. 
Settlement Currency: The Settlement Currency by default would be SGD or the Counter's Denominated Currency. 
Force Key: By default is Empty, unless you want to subscribe this service. My advice is not to use this as chances of getting the trade done outside the 20 bid range is rather very low. 

Please check again the information you have put in before click on "Submit" button as the action cannot be reversed after the trade is submitted and filled up. You may contact your broker/dealer in case you accidentally selected wrong payment mode (i.e. this is a CPF trade instead of Cash trade etc) on the same trading day before market closed, so that he/she may have a chance to amend the payment mode for you. 

So please treat it as part of your online banking transaction that requires additional care. 

Feel free to check with me so that I can improve my post here. Thank You. 

1 comment:

  1. eToro is the ultimate forex trading platform for beginning and established traders.


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