How to Open a Stock Trading account in Singapore-Updated 2015

Sinkie

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so if I have shares in CDP, how can I sell it at brokerage? How does broker know if I have enough shares to sell? Does the proceeds go to thebrokerage account?

Login and key sell
Broker does not know what shares u have in cdp
Proceed goes to eps bank unless it's poems
 

endlssorrow

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Siao other than SCB
If u don't have enough share and u go sell
Then good luck to u liao
Don't be noob playing like this
 

koolzinluck

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which broker is the best for long term hold of US stocks?

Please advice, which broker is the best for long term hold of US stocks? I need your advice desperately. I'm a virgin to investing. Thank you
 

berry&lemon

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Me also wanna know... :)

And also, how about china stock? eg Ali, tencent etc...


Alibaba is listed in US’s NYSE, and Tencent is listed in Hong Kong’s HKEx.
Do take note that you’ll have to sign W-8Ben to declare that you’re not a US tax-resident, if you intend to trade US stocks.
 
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tetat_ic

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I am using CGS-CIMB Securities, I find the platform is the most user-friendly to me. The commission is pretty standard for CDP-linked brokers (i.e. min $25, 0.275%).

Customer service is pretty much standard, not much issue.

If you are using CGS-CIMB Securities, you may want to consider opening their CIMB FastSaver (1% interest - no frills). The money you put into this account is not supposed to be withdrawn (i.e. no ATM card), except yeah you can still do ibanking transfers. So you may treat this bank account as a mini "money market" 1% returns before you invest via CGS-CIMB Securities.

My personal preference is still CGS-CIMB Securities.

I have also opened the following brokerage accounts too:
- Maybank Kim Eng
- Phillip Securities
- OCBC Securities
- DBS Vickers
- Saxo Capital
 

archcherub

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I am using CGS-CIMB Securities, I find the platform is the most user-friendly to me. The commission is pretty standard for CDP-linked brokers (i.e. min $25, 0.275%).

Customer service is pretty much standard, not much issue.

If you are using CGS-CIMB Securities, you may want to consider opening their CIMB FastSaver (1% interest - no frills). The money you put into this account is not supposed to be withdrawn (i.e. no ATM card), except yeah you can still do ibanking transfers. So you may treat this bank account as a mini "money market" 1% returns before you invest via CGS-CIMB Securities.

My personal preference is still CGS-CIMB Securities.

I have also opened the following brokerage accounts too:
- Maybank Kim Eng
- Phillip Securities
- OCBC Securities
- DBS Vickers
- Saxo Capital

for old pple who wanna buy stocks and hold for next 20 years for retirement
what stock broker is best low-costs ah?
 

black_wing_diaz

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Hi Sinkie,

123.jpg


Just wanna check for CGS-CIMB Securities, do we need to pay the Admin free for CDP Sub-Account ($20 per quarter) if we opened it and don't hold shares in SGX but only have shares in foreign markets? Thanks.
 
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goldnut

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Hi all, planning to open Vickers account but I have a question about the Cash Upfront Account and Multi Currency Account.

I plan to use the Cash Upfront only to buy S'pore stocks but an MCA is also opened along with a Vickers account.

Now if the $$$ is deducted from Cash Upfront, doesn't that bypass the MCA? Then what is the MCA for? If it's to store dividends does that mean I have to manually transfer them back to my savings account? :s22::s22::s22:

Also, this page states there is a fall-below fee for <$3000 in your MCA

https://www.dbs.com.sg/personal/deposits/savings-accounts/dbs-multi-currency-autosave

But there is no mention of it here

https://www.dbs.com.sg/personal/investments/equity-trading/dbsv-account-mca

Very blur now :s22::s22::s22:
 

TheAlphaLion

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Hi all, planning to open Vickers account but I have a question about the Cash Upfront Account and Multi Currency Account.

I plan to use the Cash Upfront only to buy S'pore stocks but an MCA is also opened along with a Vickers account.

Now if the $$$ is deducted from Cash Upfront, doesn't that bypass the MCA? Then what is the MCA for? If it's to store dividends does that mean I have to manually transfer them back to my savings account? :s22::s22::s22:

Also, this page states there is a fall-below fee for <$3000 in your MCA

https://www.dbs.com.sg/personal/deposits/savings-accounts/dbs-multi-currency-autosave

But there is no mention of it here

https://www.dbs.com.sg/personal/investments/equity-trading/dbsv-account-mca

Very blur now :s22::s22::s22:

Hmm, don't know why Vickers now will open the MCA account also.. last time when i opened my account there was no MCA. I think the MCA is only for foreign shares. For local SGX shares, your shares go into CDP and dividends payout directly to your bank account through CDP's direct crediting service.

Best you call them and check on the fall-below fee for MCA.
 

Sinkie

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Hi all, planning to open Vickers account but I have a question about the Cash Upfront Account and Multi Currency Account.

I plan to use the Cash Upfront only to buy S'pore stocks but an MCA is also opened along with a Vickers account.

Now if the $$$ is deducted from Cash Upfront, doesn't that bypass the MCA? Then what is the MCA for? If it's to store dividends does that mean I have to manually transfer them back to my savings account? :s22::s22::s22:

Also, this page states there is a fall-below fee for <$3000 in your MCA

https://www.dbs.com.sg/personal/deposits/savings-accounts/dbs-multi-currency-autosave

But there is no mention of it here

https://www.dbs.com.sg/personal/investments/equity-trading/dbsv-account-mca

Very blur now :s22::s22::s22:

You are getting confused here

Dbs bank is Dbs bank, Dbsvicker is dbsvicker

When you want to use dbs bank’s cash upfront facilities, you need a dbsvicker account and a Dbs bank account which could be a normal bank account or a multi currency bank account and has a cheque book or an atm card

This Dbs multi currency or any normal Dbs bank account can also be registered with cdp for direct dividend crediting too

Dbsvicker is a multi currency trust, for their foreign shares dividend that u bought with dbsvicker. This trust account has no cheque or atm card etc
 

Sinkie

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Hi Sinkie,

123.jpg


Just wanna check for CGS-CIMB Securities, do we need to pay the Admin free for CDP Sub-Account ($20 per quarter) if we opened it and don't hold shares in SGX but only have shares in foreign markets? Thanks.

It’s 2 separate accounts, one for holding sgx, one for holding foreigner

Usually a securities account is tagged to your cdp and so u do not need a sgx sub custody account unless it’s for margin financing purposes

Custody accounts fee are usually waived if there is active trading or else it will be deducted from dividend or sales proceeding
 

goldnut

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Hmm, don't know why Vickers now will open the MCA account also.. last time when i opened my account there was no MCA. I think the MCA is only for foreign shares. For local SGX shares, your shares go into CDP and dividends payout directly to your bank account through CDP's direct crediting service.

Best you call them and check on the fall-below fee for MCA.

You are getting confused here

Dbs bank is Dbs bank, Dbsvicker is dbsvicker

When you want to use dbs bank’s cash upfront facilities, you need a dbsvicker account and a Dbs bank account which could be a normal bank account or a multi currency bank account and has a cheque book or an atm card

This Dbs multi currency or any normal Dbs bank account can also be registered with cdp for direct dividend crediting too

Dbsvicker is a multi currency trust, for their foreign shares dividend that u bought with dbsvicker. This trust account has no cheque or atm card etc

Thanks for the reply. Just called up Vickers. Turns out since Jan 2018 the MCA is created with every new Vickers account. There is no fall below fee in this instance. However, if an MCA account is created on it's own with no links to Vickers then there's a fall below fee.
 

Blkh999

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Hi, I’m thinking of using UOB Kay Hian for trading shares?

Any review feedbacks from any guys here?

Thanks
 

Han Shot First

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Thanks for the reply. Just called up Vickers. Turns out since Jan 2018 the MCA is created with every new Vickers account. There is no fall below fee in this instance. However, if an MCA account is created on it's own with no links to Vickers then there's a fall below fee.

How can one link the existing DBSV online trading account (opened before Jan 2018) to existing DBS Multiplier account?

My understanding is that the DBS Multiplier account can also function as a multi-currency account.

Alternatively, if one wants a DBSV online trading account linked to MCA, does one need to open a new DBSV online trading account even if one already has an existing DBSV online trading which is not linked to MCA?
 

fairylord

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Which broker account good for DCA strategy on ETF/REITs, appreciate sifu advice.

May be a total of less than 1k for several counters.

Thanks.
 
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