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

power789

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Hi sinkie, do u have a guide for opening a usd account? Coz quite confusing with regards to those tax, witholding fees? Costs, transfer sgd to usd fees......

Will be great if u can advise om this. If u can also suggest a good firm for opening us trade acc. Thanks
 

Sinkie

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Hi sinkie, do u have a guide for opening a usd account? Coz quite confusing with regards to those tax, witholding fees? Costs, transfer sgd to usd fees......

Will be great if u can advise om this. If u can also suggest a good firm for opening us trade acc. Thanks

you refering to US market account? ok when i have the time i will try to do a guide on foreign market.

but usually if you want trade us market, you just sign a w3b form with any stock brokerages, then you will have access to foreign market but the fee is usually much higher and also it dont provide live feed too.
 

codexboy

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use excel??

i know cimb securities's portfolio is able to do manual edit but not sure about other.

I ytd just signed up with Cimb youth package, intro by a bro here who's a broker..
 

Sinkie

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I ytd just signed up with Cimb youth package, intro by a bro here who's a broker..

Enjoy the 30% off all sgx trades promotion. anyone need more information also can pm me too..
 
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kazaf99

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looking to start the scb trading account
but the comm seems too low to be true...

any advice?
 

Sinkie

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looking to start the scb trading account
but the comm seems too low to be true...

any advice?

i dont know is this allowed but check up the standchart trading thread below

http://deluxeforums.hardwarezone.co...ading-town-no-minimum-commission-3265890.html

Do also take note that some dividend payout will be missing or delayed and so make sure that u keep track everything everyday

http://deluxeforums.hardwarezone.co...eck-your-cds-coming-4121018.html#post74375353


hi, I would like to share my 1 year plus experience using SCB online trading platform. Now I am using another platform.

Advantages:
1) low commissions (main benefit)
2) some news feed/analyst reports

Disadvantages:
1) online platform very lumbersome, hard to trade relative to other platforms
2) hard to get real time quotes in one screen. have to go into each stock and click on ‘refresh’ to get real time quote.
3) this is the very painful part – very slow in informing about rights issues. and don’t send the full rights prospectus, unlike when your stocks are in CDP. Only send one sms or letter and it’s usually later than the mails I receive from CDP on rights issue.
4) Does not reflect my warrant value and info on my online account. e.g. for Olam warrants. Said online platfom does not support warrant trading. Said that I have to call trading desk if i want to ask about my values and trade. And I only know my trade results end of the trading day if it is done by trading desk.
5) Sometimes trade execution is super slow. For eg., I submit a price that is at the current market price (as checked from another trading platform) and with sufficient volume, but the SCB trade just gets acknowledged but not executed for very long.
 
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SiaoAhBeng

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do all internet trading acc have 'limit order' ?

other than PoemsProTrader that offered 'stop limit order', which other brokerage it?
 

Sinkie

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do all internet trading acc have 'limit order' ?

other than PoemsProTrader that offered 'stop limit order', which other brokerage it?

All accounts has limit order, and also fak and fok orders
 

leogeo

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i have a stand chart online trading account which i have actually not used yet.

i don't remember opening a CDP account when i opened that trading account. Can i still trade?

For buying of retail bonds via Internet or ATMs, for instance the recent perpetual bond by DBS, i would require a DBS Vickers account to buy that right?
 

Sinkie

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i have a stand chart online trading account which i have actually not used yet.

i don't remember opening a CDP account when i opened that trading account. Can i still trade?

For buying of retail bonds via Internet or ATMs, for instance the recent perpetual bond by DBS, i would require a DBS Vickers account to buy that right?

Standchart does not required a cdp since stocks bought from standchart is not deposited into your cdp but into scb's custodian account.

you need a cdp account to 'store' your retails bonds or ipo that you bought via internet or atm, but you will need a clearing member which we refer as brokerage firms in this thread to sell, so it is not necessary a dbs vickers but as long it is a clearing member like cimb, kimeng, or poems etc, you will be able to sell.
 

leogeo

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Standchart does not required a cdp since stocks bought from standchart is not deposited into your cdp but into scb's custodian account.

you need a cdp account to 'store' your retails bonds or ipo that you bought via internet or atm, but you will need a clearing member which we refer as brokerage firms in this thread to sell, so it is not necessary a dbs vickers but as long it is a clearing member like cimb, kimeng, or poems etc, you will be able to sell.

thank you. so SCB only allow normal trading of stocks. But to subscribe to IPOs and retail bond offerings, I have to go through other brokerages which will require a CDP account?
 

Sinkie

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thank you. so SCB only allow normal trading of stocks. But to subscribe to IPOs and retail bond offerings, I have to go through other brokerages which will require a CDP account?

to subscribe (buy) to ipo and retail bond offering via atm, you only need a cdp. You don't need a brokerage account if u hv no intention to sell or if you have intention to transfer it to scb.

But in order to sell the ipo and retail bonds after successfully bidding it from ATM, you need a brokerage account to do so..

hope im clear here..
 
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leogeo

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to subscribe (buy) to ipo and retail bond offering via atm, you need a cdp but not a brokerage account if u hv no intention to sell or have intention to transfer it to scb
to sell the ipo and retail bonds, you need a brokerage firm account which will require cdp account as well or else u can also transfer it into scb to sell.

hope im clear here..
yup, ok will set up a CDP account soon!
 

DeSond

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Hi gurus! Newbie qn here, am I right to say that I can open an account with any brokerage firm and don't have to pay any fees until I start buying/selling?
 

Sinkie

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Hi gurus! Newbie qn here, am I right to say that I can open an account with any brokerage firm and don't have to pay any fees until I start buying/selling?

There is no maintenance or whatsoever fee until you buy any stock, and you are only charged when buying or selling. Even if there is a period of inactivity after you bought any shares, there is also no charges
 
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