No, brokerage does not know your cdp movement at all
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?
No, brokerage does not know your cdp movement at all
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?
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
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
Me also wanna know...
And also, how about china stock? eg Ali, tencent etc...
Me also wanna know...
And also, how about china stock? eg Ali, tencent etc...
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 The money you put into this account is not supposed to be withdrawn (i.e. no ATM card), except yeah you can still do ibanking transfers.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
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 $$$ is deducted from Cash Upfront, doesn't that bypass the MCA? Then what is the MCA for? If it's to store dividends does that mean I have to manually transfer them back to my savings account?
Also, this page states there is a fall-below fee for <$3000 in your MCA
https://www.dbs.com.sg/personal/deposits/savings-accounts/dbs-multi-currency-autosave
But there is no mention of it here
https://www.dbs.com.sg/personal/investments/equity-trading/dbsv-account-mca
Very blur now
Hi all, planning to open Vickers account but I have a question about the Cash Upfront Account and Multi Currency Account.
I plan to use the Cash Upfront only to buy S'pore stocks but an MCA is also opened along with a Vickers account.
Now if the $$$ 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?
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
Hi Sinkie,
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.
for old pple who wanna buy stocks and hold for next 20 years for retirement
what stock broker is best low-costs ah?
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.