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

[lzydata]

I plan to invest by using cash from my savings to buy shares. That is considered cash upfront?

Sorry, kinda noobish about this.

Cash upfront means you transfer the money to your broker first, then place your orders and wait for them to be filled. The money you put up is used to pay for the shares 3 business days after trading day. The alternative, which is the default, is you place your orders first without putting up any money. Only if it is filled then you pay up 3 days later. So there is a small risk to the broker that your order is filled but you don't or you can't pay up.

 

[bluebottle]

Guys, newbie question.

I know that in SGx minimum number of share to buy/sell is 1000, i.e 1 lot = 1000 shares.

What about in US market? are they using same lot size? wondering because there share prices are sky high like $70 - $700, unlike in Sgx which is mostly less than S$5.

 

[Sinkie]

Guys, newbie question.

I know that in SGx minimum number of share to buy/sell is 1000, i.e 1 lot = 1000 shares.

What about in US market? are they using same lot size? wondering because there share prices are sky high like $70 - $700, unlike in Sgx which is mostly less than S$5.

US market allows you to buy 1 share minimun

 

[roburn]

Yeah, that's meaning of "cash upfront"

Cash upfront means you transfer the money to your broker first, then place your orders and wait for them to be filled. The money you put up is used to pay for the shares 3 business days after trading day. The alternative, which is the default, is you place your orders first without putting up any money. Only if it is filled then you pay up 3 days later. So there is a small risk to the broker that your order is filled but you don't or you can't pay up.

Thanks!!!

 

[Sausage]

How do I use my CPF-OA for securities investment?

I have a CDP account and an account with POEMS already. I read somewhere that I also need to do something with a bank account to link it with my CPF-OA account. Where can I find details for this?

 

[lzydata]

How do I use my CPF-OA for securities investment?

I have a CDP account and an account with POEMS already. I read somewhere that I also need to do something with a bank account to link it with my CPF-OA account. Where can I find details for this?

First you need to set up a CPF Investment Account with an agent bank, either DBS, UOB or OCBC. Then you need to tell POEMS - or any other broker - your account number so they can link it up to your account. Your agent bank will be the custodian of the securities you buy through your CPF Investment Account; CDP is not involved.

See more below:

CPF Ask Us
Online Stock and Share Trading-POEMS

 

[Sausage]

will the bank try to get you to sign up for their own trading platform
coz i am already on poems
just need a bank cpf-is account

 

[lzydata]

will the bank try to get you to sign up for their own trading platform
coz i am already on poems
just need a bank cpf-is account

No they won't. Even if they do, a DBS Vickers, UOBKH or iOCBC account is free. Only if you choose to trade with them will there be charges. But no matter what, there will be transaction and custodian fees for your CPFIS investments, on top of brokerage charges. So trading with your CPFIS account is a bad idea because you will churn up lots of fees.

For all the details, please read up the schedule of charges on their websites. For shares:

DBS: Transactions: $2.50 per lot, maximum $25. Custody: $2 per counter per quarter, minimum $5 per account.
UOB: Transactions: $2 per lot, maximum $20. Custody: $2 per counter per quarter.
OCBC: Transactions: $2.50 per lot, maximum $25. Custody: $2 per counter per quarter.
(All subject to GST.)

 

[SiaugauZ]

anyone can guide me how to fund optionexpress singapore account through dbs internet banking?

I remember I manage to did it last year but suddenly forget how to do it

 

[Sausage]

so with the high fees and all is there still any point in investing cpf money?

 

[lzydata]

so with the high fees and all is there still any point in investing cpf money?

According to the CPF Board's reports, many people do worse than the CPF's guaranteed 2.5% pa, and many don't even break even. My guess is that they try to time the market and select the best stocks or unit trusts, listening to tips and rumours, jumping in and out, buying high and selling low. It happens that this self-destructive behaviour also results in lots of fees, which also reduces returns.

I think there is still a point if you don't need to put aside that much CPF money and you are a good investor. Just don't trade so much and buy only a few counters, and that's a good start. Or you can choose to buy the STI ETF that has in-built diversification.

 

[wahkao3]

According to the CPF Board's reports, many people do worse than the CPF's guaranteed 2.5% pa, and many don't even break even. My guess is that they try to time the market and select the best stocks or unit trusts, listening to tips and rumours, jumping in and out, buying high and selling low. It happens that this self-destructive behaviour also results in lots of fees, which also reduces returns.

I think there is still a point if you don't need to put aside that much CPF money and you are a good investor. Just don't trade so much and buy only a few counters, and that's a good start. Or you can choose to buy the STI ETF that has in-built diversification.

do exactly the opposite what a normal person would do

 

[Mr. Wood]

First you need to set up a CPF Investment Account with an agent bank, either DBS, UOB or OCBC. Then you need to tell POEMS - or any other broker - your account number so they can link it up to your account. Your agent bank will be the custodian of the securities you buy through your CPF Investment Account; CDP is not involved.

See more below:

CPF Ask Us
Online Stock and Share Trading-POEMS

about trading with CPF-OA account, can I also pay the transaction fee, brokage fees etc using CPF? Can I encash the profits or is it automatically goes back to CPF?

 

[tiny]

so with the high fees and all is there still any point in investing cpf money?

I still make kopi money (Starbucks quality) from timing my buy and sell on selective cyclical stocks such as Singtel, StarHub. All using CPF-OA

 

[Jannyxzxz]

Hi everyone,

Which stock and CFD broker do you think is better in Singapore ?
In terms of trading platform and commissions?
I know POEM , KEtrade have pro trader platform? having stop limit order those? Btw is those stop limit order or stop order free? or need to pay a sum for each order?

I know that SCB have no fixed commissions but i not sure of their trading platform and i think the shares bought are under SCB and not our own CDP account right?

Btw i am 18 yrs old, so considered young investor? or which broker have benefits for young trader?

Sorry if there is any grammar mistake.

 

[wahkao3]

Hi everyone,

Which stock and CFD broker do you think is better in Singapore ?
In terms of trading platform and commissions?
I know POEM , KEtrade have pro trader platform? having stop limit order those? Btw is those stop limit order or stop order free? or need to pay a sum for each order?

I know that SCB have no fixed commissions but i not sure of their trading platform and i think the shares bought are under SCB and not our own CDP account right?

Btw i am 18 yrs old, so considered young investor? or which broker have benefits for young trader?

Sorry if there is any grammar mistake.

for me , stop order is important for me too
someone pls advice

 

[Yxy]

AFAIK, only SCB has Stop Loss order.
The others (POEMS, Kim Eng etc) only offer 'advanced' orders thru their pro platforms (have to pay or redeem from rewards points).
Kim Eng currently offers their pro platform free till end of the year, alas it uses IE and the port is blocked for me at work. It looks damn good though.

As for CFD, most of them should have advanced order types (stop loss, stop limit, bracket order, trailing stop etc). POEMS has the most counters for CFD but it's probably the most expensive.

Hi everyone,

Which stock and CFD broker do you think is better in Singapore ?
In terms of trading platform and commissions?
I know POEM , KEtrade have pro trader platform? having stop limit order those? Btw is those stop limit order or stop order free? or need to pay a sum for each order?

I know that SCB have no fixed commissions but i not sure of their trading platform and i think the shares bought are under SCB and not our own CDP account right?

Btw i am 18 yrs old, so considered young investor? or which broker have benefits for young trader?

Sorry if there is any grammar mistake.

 

[Jannyxzxz]

AFAIK, only SCB has Stop Loss order.
The others (POEMS, Kim Eng etc) only offer 'advanced' orders thru their pro platforms (have to pay or redeem from rewards points).
Kim Eng currently offers their pro platform free till end of the year, alas it uses IE and the port is blocked for me at work. It looks damn good though.

As for CFD, most of them should have advanced order types (stop loss, stop limit, bracket order, trailing stop etc). POEMS has the most counters for CFD but it's probably the most expensive.

For CFD, stop order,etc , do they charge a fee? Is IGmarket good for CFD? Considering them..

For stock broker, i am considering Kim Eng? :O Is it ok?? :O

 

[Yxy]

no fee. POEMS, Kim Eng etc all the same, choose any one. SCB is cheaper than all of them, but the interface is worse. IG Markets...no comment

For CFD, stop order,etc , do they charge a fee? Is IGmarket good for CFD? Considering them..

For stock broker, i am considering Kim Eng? :O Is it ok?? :O

 

[Sinkie]

For CFD, stop order,etc , do they charge a fee? Is IGmarket good for CFD? Considering them..

For stock broker, i am considering Kim Eng? :O Is it ok?? :O

when choosing a stock brokerage account, consider the 1) platform features 2) the broker servicing you

so try to do research the various platform functionalities and ask around for friend recommendation because each account will be serviced by individual broker.

some clients, just somehow ba zhi cannot match with the broker one, will quarrel very often one etc.