For more information on the various term, please refer to this link





Continue from part 8: How to purchase a stock? (you can read all about it here





16)Change the account-cash upfront





17)Change the buy action to buy or sell









Some key term to note...





Settlement mode

Cash or Cash upfront

Choose cash upfront if you are using cash upfront account

Settlement currency





The money that you would like to purchase the stock with, for purchasing of US stock(USD) and for purchasing of Singapore stock(SGD) Stock name





Name of the stock itself,in my case it is the STI ETF Stock Code





Stock code as the name implies, SPDR STI ETF(ES3) Order type

The below chart does a good job of explaining the various order type

Market order-Buy or sell at the current Ask price(Order get filled immediately)

Limit order-Buy or sell at a specific price(Order filled depend on the price you key in, will explain later in the post)

There is no stop order for DBS Vickers(correct me if I am wrong)

Order duration A Good for Day order is a limit order good for that business day only. If the order is not filled by the end of the trading day, the order will expire.

This is the order we are going for, for simplicity sake.

18)Key in the quantity of stock that you would like to buy





SGX(lot size)=100 shares





19)Key in the price that you would like to bid





The price that I would like to bid:$3.095









You may ask why $3.095?





Remember the place order from the last post? (Black circle)





The bid price is $3.095 (Note: this may not get your order to fulfill instantly and your order will be added to the queue)

This is like trying to bargain with a shop seller at a market to buy an item(e.g fish) which the price tag stated as selling for $4, but you want to buy it cheaper at $3.50









Can you bid lower than $ 3.095?





Yes, you can put the bid price at $3.094 or $3.00 (Note: this may not get your order to fulfill instantly and your order will be added to the queue)

This is also like trying to bargain with a shop seller at a market to buy an item(e.g fish) which is stated as selling for $4, but you want to buy it cheaper at $3.50









Can you bid higher than $3.095?





Yes, you can put the bid price at $3.100 (Note: this will get your order fill instantly because you are purchasing the stock at the selling price(Ask))

This is just like buying an item (e.g fish) at a stated price from the shop seller at the market without any question asked, you hand over your money and off you go

What does it mean by having my order added to the queue?

Since there is no seller willing to sell(ask) at the price you want(bid), your order is added to a queue

A queue is like a database where they store everybody offer whose order is not filled, the order is more likely to fill quickly if you key in the price nearer to their Ask price(selling price)-

E.g you key in 3.099 as your price and the Ask price is 3.100(below in the picture













20)Click the confirm order button to place your order(Black circle)









A few more key term to note...



Total contract value





The total contract value would be $3.095(the price that I have key in) * 100(quantity) =$309.50

Commision

I mentioned before in my post a few ago about the DBS Vickers commission

Currently, the brokerage fee for DBS cash upfront account is 0.18%, min SGD10 Clearing fee





post Also mentioned before in this

Total Contract Value(100%)=$309.50

Clearing fee( 0.0325%)=$0.10 SGX trading fee





Total Contract Value(100%)=$309.50

SGX trading fee( 0.0075%)=$0.02 GST

The irony even though, I am doing it DIY...

GST is 7% of Comission + Clearing fee + SGX trading fee

GST=7%(the magic number)

Commission + Clearing fee + SGX trading fee =100%

$10.00 + $0.10+ $0.02=100%

100%=$10.81

GST=$0.71 Total Comission and fees





Commission + Clearing fee + SGX trading fee + GST= Total Comission and fees

$10.00 + $0.10 + $0.02 + $0.71= $10.83

Total Comission and fee = $10.83 Indicative total proceed





Total Contract value + Commission + Clearing fee + SGX trading fee + GST= Indicative total proceed

$309.50 + $10.00 + $0.10 + $0.02 + $0.71= $320.33

Indicative total proceed= $320.33

