Like many of you investors out there, I was a huge fan of Standard Chartered Online Trading when it first opened. No minimum commission on stock trades, on any stock exchange in the world? Sign me up please!
In my early days as an investor, I placed almost all my US and Singapore stock trades on Standard Chartered. The no commission allowed me to purchase S$1000 to S$500 worth of stock each time, and pay S$1 or S$2 in fees. Those were the golden days of stock trading.
Eventually Standard Chartered probably figured out that this wasn’t making them enough money, or perhaps this was their plan all along once they had a large enough user base, and they imposed a minimum commission of US$10 (or $10 of the local currency).
This really destroyed the entire purpose of having a Standard Chartered Account for me. They had …