Hello TradeChancellor,

i small investor nia. that one too ex liao lah~ haha but thanks for the recomendation

BRK.A price is USD 119,800

BRK.B price is USD 3,976

err.....

hey please do not do this.... the broker was only kind enough to do me a favour and No More Next Time..

After this, I think about it .. actually, it really does not matter, if you can earn so much money in just 1 day, who cares about the 0.01 exchange rate .. u know what I mean...

In conclusion, if you intend for contra, choose USD, for long choose SGD...  

I think I can answer your question, as I first purchased US stock through POEMS last two Friday..

I bought Morgan Stanley October 10 (Friday) at USD 7, thinking to long for this counter, therefore I chose SGD currency.

October 13(Monday), the price shot up, I sold all my holdings at USD 15, I chose SGD currency again.

Now, this is obviously a contra. I called my broker at POEMS, she told me if I am doing contra, it is the best to choose USD currency , avoid any USD to SGD foreign exchange (of course for my case that is only 1 day difference Friday & the following Monday). However, she is so kind to change the currency settled mode from SGD to USD for both buy and sell...

This is how it works...... (USD 15-USD7) * XXXX shares = USD XXXX  * exchange rate (iny my case is $1.46735) to SGD XXXXX , banked into my account on October 17 (Friday). Of course now is at our benefit, as USD going up from lowest $1.35 to now $1.47....

I love US stocks volatility, the next thing I am looking closely are still bank shares and Las Vegas Sands... Good luck folks.

Originally, contra is not allowed.  But how to play the super volatile markets.

Only recently as in late 2006 they allow contra.....shorting still NO NO...

Hi Andrew,

Thanks for the info, regarding the divvy (Just found out that most info can be found on the Poems website...but thanks for sharing anyway) . Yes, you need to fill up the W-8EN form to get the acct activated for trading US shares. (Didn't know abt the 3yr expiry date though...thanks for bringing this up) did get my acct activated early this yr and traded a couple of US shares. Yes, the volatility is there..so have to be very careful although it is very liquid, almost always able to buy or sell due to the market makers there.

Regarding the custody charges for holding the US shares, the rate is now S$2.14 (w/GST) per month per counter. It can be waived for that month if you make at least 2 trades during the month. Cap at S$160.50 per quarter. More info can be found here: http://www.poems.com.sg/HelpCentre/uscharges.asp?value=charges

Hi zhenxian,

1) 50 basis pt means 0.5cts for every US dollar.  For example 1 USD = S1.4200.  POEMS will sell you 1USD for S$1.4250.  When you sell your stocks 1USD = S$1.3850, POEMS buy 1USD at S$1.3800.  So from buy to sell POEMS will make 1Scts for every US dollar or 100 basis point.

Do note that the exchange rate is retail rates and like all good bank, they tends to give you the worst rate of the day. Or worst still, the worst rate of the T+3 window.

Buy/Sell rate for USD is also wider these day........very volatile.

2) I have never open a USD checking account.  But my exchange rate is corprate rate -- As seen in Channel News Asia displayed rate.......heeeee.

3) Exactly.....I may have mixed up with CPF pricing......agent in US need to help safe keep and upkeep your "scripts".  I also never pay because this is a barginable items......do at least 2~3 trade a month and you can probably bargain for a wavier.   I think in SGD...

Your example is correct.....per stock per month rate...or is it per Q??.  Really, never pay them because IN OUT in days......not months..DON'T HOLD.

Finally, with all this charges, you need a lot of profit margin to make money.  For me,  I usually enter if Hugo is blasting USA with threat to nationalise some american interests.

Like last year, Hugo nationalise their "Singtel" - ticker VNT, the stock fall 60% in 2 hours.  I buy, and it fell some more.  By next day, it when up by 3 dollar+++.  So 1 day, zero capital, free money.

Buy at 11++ close at 10++.....next day 14+++....very very volatile.

It is really a jungle out there......it is a perfect market.....infinite seller and buyer.

Take care.....