Anyone trading from Singapore?
- Thread starter Remiraz
- Start date
Me trade both Singapore and Nasdaq mkts, but Nasdaq is much more rewarding. I've traded Singapore mkt for about 6yrs, while Nasdaq started out a few mths back. To do day trading in Singapore mkt is much much more difficult than Nasdaq, simply because Singapore mkt is INFESTED with house traders, neligible retail investors and mkt makers participating, lacking breadth and depth. Also, despite so much talk about transparency in Singapore mkt, there's still so much information that is often leaked out to either insiders or houses, and those in-house traders are the first group to benefit from those 1st hand insder info. One word to summarise--- FRUSTRATION!
how do you find trading conditions in SG?
hours?
tax?
support?
services?
hours?
tax?
support?
services?
how do you find trading conditions in SG?
---If u mean trading Nasdaq in Singapore, i'll say so far, so gd. I'm trading under a prop firm, they provides all its proprietary software, fee paid is almost similar to most prop. firms in US or Canada. Level2, charts, etc all provided. My firm lease a direct access line linking to Nasdaq, so execution time is about 0.2sec.
If its SG mkt u are referring to, then I'll follow up on next message.
hours?
---We starts trading from 9pm-4am.
tax?
---There's NO capital gain tax for trading stocks in singapore! That's if u r an investor. A trader will enjoy concessionary tax rates for the first few years( cant remember) of their trading. The SG govt is trying to encourage more singaporeans to be traders when they implemented this. Alternatively, can also set up a company to take advantage of the concessionary corporate tax rate permanently for the first S$100K annual income.
support?
---Trading in Nasdaq so far so gd. Trading in SG mkt nightmare. Though there's online trading in every houses, the charting software they provide are normally daily, weekly and mthly charts! No mins or S&P/Nasdaq futures provided. A few even "borrow" charts from SGX charting service! Mkt depth, somethin similar to Level2, have to pay to subscribe. But I dun find it useful, as there's many sharks "dressing" the mkt depth book order.
services?
---No comments on that. It really depends on which dealer/remiser u are assigned to for trading in SG mkt.
Hope that helps.
Bulleye (Singapore)
---If u mean trading Nasdaq in Singapore, i'll say so far, so gd. I'm trading under a prop firm, they provides all its proprietary software, fee paid is almost similar to most prop. firms in US or Canada. Level2, charts, etc all provided. My firm lease a direct access line linking to Nasdaq, so execution time is about 0.2sec.
If its SG mkt u are referring to, then I'll follow up on next message.
hours?
---We starts trading from 9pm-4am.
tax?
---There's NO capital gain tax for trading stocks in singapore! That's if u r an investor. A trader will enjoy concessionary tax rates for the first few years( cant remember) of their trading. The SG govt is trying to encourage more singaporeans to be traders when they implemented this. Alternatively, can also set up a company to take advantage of the concessionary corporate tax rate permanently for the first S$100K annual income.
support?
---Trading in Nasdaq so far so gd. Trading in SG mkt nightmare. Though there's online trading in every houses, the charting software they provide are normally daily, weekly and mthly charts! No mins or S&P/Nasdaq futures provided. A few even "borrow" charts from SGX charting service! Mkt depth, somethin similar to Level2, have to pay to subscribe. But I dun find it useful, as there's many sharks "dressing" the mkt depth book order.
services?
---No comments on that. It really depends on which dealer/remiser u are assigned to for trading in SG mkt.
Hope that helps.
Bulleye (Singapore)
I personally know there's lots of remisers/dealers that can't survive based on the meagre commission from only a handful of retail investors. So, what they do is, they trade using house accounts to either generate volume( sometimes to keep their bosses away!) or to make profits daily. So, its better NOT to take any recommendations from them trading in SG mkt. Its better to commit bad trades yourself than by other pple's recommendations.