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How to Open a Stock Trading account in Singapore-Updated 2012

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Old 01-03-2012, 12:20 PM   #1
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How to Open a Stock Trading account in Singapore-Updated 2012

If you would like to open an account, accounts can be opened in various ways, you can contact a trading representative to send u the forms, or you can drop by the office of your brokerage, or you can download the forms and mail back or some brokerage actually offer online link to open a trading account via the website, but first, you may want to take a look at the below comparison among all singapore stock brokerages in term of their platform interface, account opening methods, tools, services and their office address to make a better choice?

if you do not have a cdp, you may want to skip the comparison first and read on before coming back?

Comparing Stock Brokers

CIMB Securities vs DBSV
http://deluxeforums.hardwarezone.com...012-post2.html

Uob Kayhian vs Iocbc
http://deluxeforums.hardwarezone.com...028-post3.html

Poems vs Lim&Tan
http://deluxeforums.hardwarezone.com...035-post4.html

Kimeng Vs Citibank
http://deluxeforums.hardwarezone.com...541-post5.html

DMG vs AMFraser vs Standchart
http://deluxeforums.hardwarezone.com...559-post6.html

A simple comparison among all brokerages in Singapore in term of product and services provided- updated 2014





Q1.How do I/we get started?

Before you can start trading, you will need 2 accounts:

A) A securities account with The Central Depository (Pte) Ltd (CDP) which is only opened once
  • The Central Depository (Pte) Ltd (CDP) account is for the settlement of trades.
  • It maintains all the shares you’ll buy on SGX,
  • It electronically records the movements of the shares in and out of your account as you buy and sell them.
  • To open a CDP account, you will need to be 18 years of age and must not be an undischarged bankrupt.
  • For Singaporean/Permanent Resident (“PR”) of Singapore, who wish to trade in SGX listed shares, you need to open a corresponding CDP Individual/Joint Securities Account (commonly known as the CDP account) with the Central Depository Pte Ltd ("CDP").
  • For Non-Singapore Permanent Resident/Foreigner, you would need to open a CDP Sub-Account.

A brokerage account with a stockbroking member of SGX-ST.
  • The brokerage account allows you to trade shares in the stock market.

Both these accounts have to be linked before you can start trading.

If you already have a CDP account (1681-xxxx-xxxx)
you can actually skip the belows text and scroll down to the next few posts to find up more information of the brokerage house, like address, platform look, commission fee and services offered.

Depending on the brokerage house, you can apply for the trading account either via online eform (cimb, poems, kimeng) or download their account online forms from their website, print and mail back to them (i have provided their download link for these valid document below, the forms are correct as of 11/08/2014, pls make sure they are valid as account opening forms changes frequently)

Please also prepare these supporting documents to be mail back together too
1) Copy of IC (back/front)
2) Copy of name card, staff pass, student card (if you are still a student)

*take note, some brokerage house may required more additional supporting document.

Q2. Do i really have to go SGX to open my CDP account? Can the stockbroking firm opens the CDP account for me too?
Yes, the stockbroking firm can also open a CDP account for you and therefore it is not a must to go to sgx center first before going to a stockbroking firm to open your first trade brokerage account. You can open both accounts at a single location (stockbroking firm)

Q3.Do i have to open one CDP securities account with every stockbroking account that i want to have?

No, you only need one CDP securities account, you are free to open trading accounts with multiple stockbroking houses. Each stockbroking houses will link up your trading account to your CDP securities account.

Linkage between your Cash Trading Account maintained with stockbroking firm and the CDP/CDP Sub-Account is necessary to facilitate book-entry transfer of scripless securities listed on the Singapore Exchange.

Q4. What do i need to bring (the required documents) if i want to open a CDP account or/and trading account with a securities firm ie cimb securities?

For Singaporean/Singapore PR
1) Original identity card - *Not car license*
For Malaysian
1) Original identity card / Passport (for Foreigner) and Original utility bill as proof of residential address (where applicable)
For Foreigners
1) Original identity card / Passport (for Foreigner) and Original utility bill as proof of residential address of your home country (where applicable)

2) Namecard/staffpass, if you are a student, then student card
3) Bank account number
4) CDP number (1681-xxxx-xxxx), if you are opening a new cdp account, remember to follow up with your broker with the cdp number once u gotten the letter from cdp.


For opening of a CDP/CDP Sub-Account, account application must be done in person. If you are overseas, please arrange for the required documents to be notarised by a Notary Public registered with your country’s governmental institution.

Q5.What are the list of stockbroking firms in Singapore that you can open a cash trading account with?
1) CIMB Securities www.itradecimb.com.sg/
2) Fraser Securities AmFraser Securities Pte. Ltd.
3) Lim & Tan Securities LIM & TAN Securities
4) Phillip Securities Online Stock and Share Trading-POEMS
5) Maybank Kimeng Securities Maybank Kim Eng
6) OCBC Securities iOCBC - Your Personal e-Broker
7) DMG and Partners Securities DMG & Partners Securities
8) UOB Kay Hian UTRADE brought to you by UOB Kay Hian
9) DBS Vicker DBS Vickers Online Trading

Q7. I have a dbs/posb/uob deposit saving account with atm card, can i avoid opening a brokerage account and start trading once i open a cdp account to start trading?
No, owning a dbs bank deposit saving account only allow easy share payment and does not means you will automatically have a dbs-vicker brokerage trading account, likewise owning a ocbc bank saving account does not means you will have a ocbc securities trading account too. you still need to go to their office in person to open a brokerage account with them.

Q8. I have a posb saving account, i do not want to open another bank account, so do i have to open a new cimb bank saving account just because i want to open a cimb securities brokerage account?
If your saving account is with posb, you can still use the posb saving account to pay for shares that are bought with a cimb securities brokerage account so it is not necessary to open a new cimb bank account just to open a cimb securities brokerage account.

if you decided to open any bank-backed brokerage firm, it is not a must to have it's banking saving account. All brokerages firms will allow major bank saving accounts for eps linkage

For example, Cimb securities allows linkage for all major local banks like dbs, citi, ocbc or even uob saving accounts for eps payment mode.



So do not be restricted by the choice of your trading account by your personal Saving account

Q9. Can i use my DBS saving account to pay for my shares if i use standard chartered trading account to enjoy its no minimun commission
No, it is exceptionally for standard chartered trading account, you MUST have a standard chartered saving accounts to make payment. You need to transfer money into the standchart saving bank account first before you can use Standard chartered trading account to buy any shares because it does not allowed EPS payment mode. Those who planning to open a standard chartered trading account, it is recommendable and advisable to also have a trading account + cdp account first.

Q10.Who can apply for a Trading Account?
You must be at least 18 years old, not an undischarged bankrupt with no delinquent records with any stockbroking houses in Singapore. Foreigners may be required to open a Trust Account for settlement of shares transactions.

For investors who are between the age of 18 and 20, you will be classified as young investor.

Q11.Which brokerage firms in Singapore has special events or programs catered to Young Investors from age 18 to 29.

https://www.itradecimb.com.sg/app/he...34e43c93aa003d

PHILLIPCAPITAL YOUNG INVESTOR GROUP

iOCBC - OCBC Group

Q12.Do I/we need to place an initial deposit for opening a Cash Trading Account?
You may be asked to place an initial deposit and this deposit will save as collateral for assignment of trading limits. For young investors, you are required to place an initial deposit.

Q13.When can I/we commence trading?
Subject to completeness and approval of your account application, it will take 2 to 3 working days to activate your account application. You will be notified in writing of your Cash Trading Account number. You can start to transact in securities listed on the Singapore Exchange Ltd upon confirmation of linkage approval of your Cash Trading Account to your Securities Account maintained with the CDP. Any transactions executed via your Cash Trading Account prior to linkage approval may result in failed trade and losses.

Q14.Once I have a CDP Securities Account and a trading account with a broker, how do I buy shares?
Tell your broker what shares you want to buy. Your broker will execute your order and handle all other details. Alternatively, you can carry out your transactions through the stockbroker’s online trading platform.

Q15. What is the payment mode for shares purchase or sales in Singapore

- Electronic Payment for Shares (EPS), Giro, Multi Trust, internet banking

Frequently-Asked Questions on Electronic Payment for Shares (EPS)
What are the benefits of this service?

a)Faster access to funds You will be able to have faster access to your funds through EPS. For example, if a cheque is sent to you promptly after due date (i.e. Due Date + 1 market day), you will receive it the following day (i..e. Due Date + 2 market days) and deposit it the day after (i.e. Due Date + 3 market days). As cheques takes a day to clear, your funds will be available on the four days after due date (i.e. Due Date + 4 market days). Under EPS, you have access to your funds on the morning of the second day after due date (i.e. Due Date + 2 market days).

b)Safer Money settlement is specific. Payment will be credited into your designated bank account for your sales of shares or specifically from you to us from your designated bank account for shares bought. You need not worry about your shares bought being force sold due to misplaced cheques or cheques lost in the mail. With EPS (Purchase), we will receive your payment on the market day after you initiated payment.

c)Convenience With EPS, you no longer need to deposit cheques. Also, payment may be made through the ATM (with EPS facility) after office hours.
Q16. I dont have a CDP account, but i have a standard chartered trading account, how do i apply for IPO from ATM?
No, you are not able to apply for any IPO from atm because you do not have a CDP account. You need a CDP account to apply for IPO. Go to any brokerage firm to open a trading account and CDP account too. Once you are allocated shares from the IPO, transfer from CDP to your standchart trading account once it is recorded into your CDP to sell if you can wait for 1 to 2 weeks upon request for transfer.

The good news is that account opening is free and there is no maintenence fee whatsoever if you choose not to use the account.

Last edited by Sinkie; 08-10-2014 at 11:58 PM..
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Old 01-03-2012, 09:56 PM   #2
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Cimb Securities

URL: https://www.itradecimb.com.sg/app/home.z



Address: 50 Raffles Place
#01-01 Singapore Land Tower
Singapore 048623
Attention: Client Services Dept

Contact Number: 18005389889

Platform Interface


i*TradePro@CIMB


Through i*TradePro@CIMB, we have a comprehensive suite of new advanced trading features for sophisticated traders.

Advanced Trading Features
Simple and high-speed advanced one-click trading with the order injector
Enables traders to define Basket Trading and Algorithmic Trading
Enables traders to create their own Conditional Trading
Customisable trading strategy with built-in strategy analysis on intepretation of technical charting
Built-in strategy analysis
Interpretation of technical charting
Free Market Depth
Live SGX Prices and Portfolio Monitoring
Support Windows xp/vista/9

Advanced Technical and Analysis Charts
Offers a wide range of advanced technical charting capabilities
Comprehensive technical indicators
Superior technical charting and strategy trading
Charts range from Intraday Tick to Historical by 1 min, 5 mins, 15 mins, 30 mins, 60 mins, Weekly, Monthly and Yearly
Built-in candlestick guide with full explanation
Equipped with built-in strategy analysis for interpretation of technical charting
Capabilities to plot, draw lines, eclipse, add text and arrow to the charts
Free to use, no minimun number of trades (pm me for the trick)

https://www.itradecimb.com.sg/app/he...ubcat=01_03_03

DOWNLOAD i*TradePro@CIMB application


A few discussions thread on cimb cashupfront can be found below too
SIC: $12 OR 0.12% commision per trade
Trade with CIMB Securities cash upfront and pay 0.12%


To open a CIMB Securities Account

Method 1
Online application = https://www.itradecimb.com.sg/eform/...Channel=MailIn

Method 2
Forms to mail in = https://www.itradecimb.com.sg/app/ar...thers/1CTA.pdf
or pm me for more informations

pls mail back with all supporting documents

DBSVicker

URL: DBS Vickers Online Trading



Address:
Singapore Office (for mailing in):
DBS Vickers Securities (Singapore) Pte Ltd
12 Marina Boulevard #10-01
Marina Bay Financial Centre Tower 3
Singapore 018982

Singapore Customer Centre:
12 Marina Boulevard Level 3
Marina Bay Financial Centre Tower 3
Singapore 018982
Mon - Fri: 8.30am to 6.00pm (except public holidays)

Contact Number : (65) 6327 2288
Monday to Friday, 8:00 a.m. to 6:00 a.m. (next day)

Platform Interface


Dbsv Cash Upfront Trading
DBS Vickers Trading Services FAQs | DBS Singapore


To open a DBSV Accounts

pls download, print and fill in the forms below.
DBS Vickers Online Trading - Open Account: Get Started Online
http://www.dbsvonline.com/English/Pd...pp_Form_v2.pdf
http://www.dbsvonline.com/English/Pdf/GTA.pdf
http://www.dbsvonline.com/English/Pd...inkageForm.pdf
http://www.dbsvonline.com/English/Pdf/GIRO.pdf
http://www.dbsvonline.com/English/Pdf/W8B%28SG%29.pdf
http://www.dbsvonline.com/English/Pdf/FATCA_Cert.pdf

then mail them back with the supporting documents
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Old 01-03-2012, 09:57 PM   #3
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UOBKayhian


URL: UTRADE brought to you by UOB Kay Hian



Address:8 Anthony Road, #01-01, Singapore 229957
(Next to Newton MRT Station Exit B)

Contact Number: +65 6536 9338

Platform Interface


We’ve created a suite of tools to make online trading easier, helping you do everything from keeping abreast of market movements to fundamental as well as technical analysis.

UTRADE Web
The stock markets in Singapore, Malaysia, Hong Kong and United States are merely a few clicks away. All you need is a computer with a web browser and internet access, and you can start trading online instantly.

Mobile Trading
You’re constantly on the move. That’s why we’ve designed a version of UTRADE that you can use on any web-enabled mobile device, iPhone or Android mobile apps, so you can monitor market movements and act accordingly — anytime, anywhere. With Mobile Trading, you’ll never miss another trade again.

ShareXplorer
However you look at it, the strength of a company plays an essential role in the performance of its stock. Introducing the ShareXplorer, a brand new fundamental analysis tool in UTRADE Web. Take a close look at a stock's key ratios such as P/E and EPS, and scrutinise its stability via its full financial reports. Pore through its news reports and also learn what analysts agree on its outlook. With the ShareXplorer, you're sure to find a winner.

TechAnalyzer
An effective technical analysis tool, our TechAnalyzer supplies you with strategies, patterns, indicators and annotation features to help you with your analysis of market movements, enabling you to either:
Screen for stocks via best-performing technical strategies and patterns, or Define your own strategies to identify market entry/exit points.

ChartGenie
ChartGenie is our latest addition to our technical analysis tool which performs live scans of your watchlists and portfolios, as well as the entire market (SGX and Bursa). Using 10 effective and commonly used technical signals, this scan detects and alerts you on actionable trading ideas to help you indentify trends for your next trading decision.

Stock Alerts
We understand that it’s impossible for you to monitor the market 24/7. So let UTRADE stock alerts do the job for you, with email or SMS alerts that you can customise to price and/or volume triggers, so you are informed of market movements at all times. Profiting just became easier.

Profit/Loss Calculator
Number crunching doesn’t have to get that complicated. The UTRADE calculator is built to help you calibrate your sell-off accurately, by measuring your profit/loss differential for up to 5 bids from the indicated sell price.


To open a UOBKH Accounts
please contact them at
UTRADE brought to you by UOB Kay Hian


IOCBC Securities

URL: iOCBC - Gateway to Global Trading



Address: 18 Church Street
#01-00 OCBC Centre South
Singapore 049479

Contact Number: 1800 338 8688

Platform Interface


Access markets speedily

iOCBC’s direct market access (DMA) allows you to send your orders directly to both local and overseas key securities exchanges.

Existing OCBC Online Banking customers can also trade via iOCBC simply by linking your online trading accounts to your online banking account.

Control over your portfolio

Track your cash, margin and share borrowing portfolio
View counterparty, trading history and trust balances
Receive trade confirmations and alerts via email or on your mobile devices
Trade and settle in choice currency
Customised watchlists to monitor the latest stock movements of your favourite counters
Trading tools let you chart securities and view in-depth price movements
Calculate your entry and exit profitability for local and overseas securities using our trade calculator

Safe and secure trading

End-to-end security encryption
Get added security with foreign securities kept with an established global custodian


To open an OCBC Accounts

pls download, print and fill in the forms below and then mail back.
http://portal.iocbc.com/assets/pdf/o...ation_Form.pdf
http://portal.iocbc.com/assets/pdf/o...pplication.pdf

then mail them back with the supporting documents
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Old 01-03-2012, 09:57 PM   #4
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Poems

URL:Online Stock and Share Trading-POEMS



Address: 250 North Bridge Road,
#06-00, Raffles City Tower
Singapore 179101

Contact Number: 65311555

Platform Interface


http://www.poems.com.sg/p2/trainings/

Experience more about POEMS 2.0 and discover how it Changes The Way You Trade. Learn more about its features and functionalities through our online tutorials and webinar sessions.


To open a Poem Account
you can fill in the eforms below.
http://www.phillipcapital.com.sg/Acc.../leftframe.asp


Lim&Tan Securities

URL: LIM & TAN Securities



Address:LIM & TAN SECURITIES PTE LTD
20 CECIL STREET
#09-00
EQUITY PLAZA
SINGAPORE 049705

Contact Number: : 6799 8188

Platform Interface


Lim & Tan Securities was established in 1973. Its main activity is stock broking and the main focus of the company is the retail market. Believing in providing cutting-edge technology to its clients, Lim & Tan Securities was amongst the first to introduce Internet Share Trading in Singapore in October 1998.

In line with its belief in providing a fast and convenient way for clients to trade shares Online, multiple channels are provided for clients to access its easy-to-navigate Online trading platform to check prices and trade. This includes the Mobile trading channel using mobile phones, where clients can view streaming live prices, which was added in June 2008. Subsequently in 2011 and early 2012, it introduced iPhone, Android and iPad Apps for more convenient on-the-go trading under its Online trading brand name, limtan.com.sg.

Currently Lim & Tan offers a trade charting application, LTS Station, where clients can trade using technical charting tools, insert trade diary comments on the charts and also view up to 10 years of their trade history with Lim & Tan Securities.


To open a Lim & Tan Accounts
pls download, print and fill in the forms below.
http://www1.lts.com.sg/Operations/Ne....nsf/StartPage
http://www.eq.com.sg/page/site/publi...l%29300614.pdf
http://www.eq.com.sg/page/site/publi...714_300614.pdf
http://www.eq.com.sg/page/site/publi...2030062014.pdf
http://www.eq.com.sg/page/site/publi...en_feb2014.pdf
http://www.eq.com.sg/page/site/publi...MARKET_RDS.pdf

then mail them back with the supporting documents
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Old 01-03-2012, 11:46 PM   #5
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KimEng Maybank

URL: Online Stock Trading Singapore - KE Trade



Address:
Customer Service Centres
50 North Canal Road
Singapore 059304

Opening Hours
Mon to Fri (except Public Holidays): 9am to 6pm

Contact Number: (65) 6231 6688

Platform Interface


Q1. What are the benefits of trading via KE Trade?
  • Easy log-in to your cash and margin accounts with a single User-ID and password.
  • Trade in multiple markets around the world with the added advantage of having dynamic real-time quotes (only on selected markets) available on screen.
  • View simultaneous investment pages with our proprietary 4Site screen for optimal stock review.
  • Do away with keying-in orders one at a time. With our proprietary Batch Order function, now you can place up to 5 SGX counters to buy/sell, all at one click of a button.
  • Withdraw up to 5 orders simultaneously with our Quick Withdrawal function.
  • Trade online with our margin account service where you can trade up to 3.5 times your collateral placed with us (our margin financing terms and conditions will apply). This service and feature gives you greater flexibility to maximize investment opportunities.
  • Receive stock alerts via web-alerts, SMS or e-mail to monitor stock movements by using different types of alert triggers - price, percentage change from intra-day price and cumulative volume.
  • Choose to settle your trades in local or foreign currency for foreign counters.
  • Create and customize up to 10 watchlists to monitor the latest price movements of your favouite Singapore and foreign counters, all in a single watchlist.
  • Manage your investment exposure with our Account Management function. You are able to view your daily trust account and custodian balances for cash accounts, as well as your stock holdings, account ledger and margin position summary for margin accounts. As an added service, the daily forex rates are also made available to you.
  • Create your personal investment portfolio to view your positions, portfolio valuation and the realised/unrealised profit/loss statement of your investments. You can also choose to export your portfolio to MSExcel.
  • Check your Internet trading limits, trading representative's name and contact particulars, account details, and update your personal details.
  • Study the trend of buying and selling of a particular counter on a real-time basis with Trade Summary.
  • Monitor actual transactions done for a particular counter with Time and Sales.
  • Watch a counter with Intra-day Charts which displays charts plotted on real-time basis with time and sales data.
  • Use the ever popular Market Depth which displays the SGX-ST ready market of up to 20 levels of bid and offer prices (Market Depth is a subscription-based service for SGX-ST counters).
  • Personalize the settings of selected pagelets to your liking. You can change the colours of the fonts and columns, organize by columns your chosen information, and change pagelet layouts to your preference.


To open a KE Account
You can fill in the eforms below.
Maybank Kim Eng - Account Opening

Citibank trading

URL: https://www.citibank.com.sg/gcb/inve..._brokerage.htm



Address: https://www.citibank.com.sg/gcb/othe...nchATMServices

Contact Number: 6333 3223

Platform Interface



Pls visit the branch in person to open.
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Old 01-03-2012, 11:47 PM   #6
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DMG-OSK

URL: DMG & Partners Securities



Address:
DMG & Partners Securities Pte Ltd
10 Collyer Quay,
#09-08, Ocean Financial Centre
Singapore 049315

Contact Number: 6533-1818

Online and Mobile Trading
DMGonline is the ideal solution for investors on-the-go. Powerful and user-friendly, our E-Trading platforms, incorporating various web based and mobile applications, provides all the essential tools to facilitate accurate and timely trading decisions.


To open a DMGonline Account
pls download, print and fill in the forms below.
http://www.dmg.com.sg/page/site/publ...%20Opening.pdf

then mail them back with the supporting documents

AmFraser

URL: https://www.amfraser.com.sg/



Address:
4 Shenton Way
#12-01, SGX Centre 2
Singapore 068807

Contact Number: 6236 2688

We offer online and mobile trading to our valued clients through AmFraser Direct Online and AmFraser Direct Mobile, to allow you to execute your trading decision in the most timely and convenient manner.

AmFraser Direct Online
Monitor your investments and trades in Singapore, Malaysia and US stock exchanges conveniently in real time, right behind your laptop with AmFraser Direct Online.

AmFraser Direct Mobile
Always running around and being on the move, does not mean not being able to monitor your investments and trades. With AmFraser Direct Mobile, and a smartphone, you can now execute your trades while on-the-go.


To open a AmFraser Account
pls download, print and fill in the forms below.
https://www.amfraser.com.sg/forms/ac...ual%20v1.0.pdf
https://www.amfraser.com.sg/forms/ac...eb%2014%29.pdf

then mail them back with the supporting documents

Standchart Trading

URL: https://www.sc.com/sg/ways-to-bank/online-trading.html



Address:
https://www.sc.com/sg/atms-and-branches.html

Contact Number: 1800 747 7000 (24-hour)


Please visit the branches as stated above to open a standchart account
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Last edited by Sinkie; 13-09-2014 at 02:51 PM..
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Old 01-03-2012, 11:57 PM   #7
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What is contra ?
Contra is the buying or selling of stocks without having to pay for the cost of the stocks. Once you buy the stocks on contra, you will have to sell the stocks after a period of time. Before the end of that period, you will have to either pay for the contract value or sell your shares and settle the difference between your initial buying price and selling price.

Currently, the period of time offered by the local brokerages to settle your payment and pay for the difference between the initial buying and selling price is 3 days although the period of time can be extended depending on your relationship with your broker, credit record and the frequencies of trades that you carried on with the brokerage.

For example, you bought 2 lots of SGX at a price of $5.00 on Monday which is also known as T+0. 3 days later which is on Thursday, also known at T+3, you will have to sell those 2 lots of SGX which you bought on Monday. Assuming you sold those 2 lots of SGX at a price of $5.20 on T+3, your profit before brokerage fees would be ($5.20 - $5.00) * 2 lots * 1000 shares =$400 since 1 lot is equal to 1000 shares and you will not have to pay for the cost of buying the 2 lots of SGX which before brokerage fees is $5.00 * 2 lots * 1000 shares = $10,000.

However, if you sold those 2 lots of SGX at a price of $4.80, you will have to pay for the losses since your selling price is lower than your purchase price. Thus your loss before brokerage fees in this case is ($5.00-$4.80) * 2 lots * 1000 shares = -$400.

Contra can be dangerous when there is a sudden unexpected market movement and you do not have enough funds to pay for it. Let us consider the following case with reference to the previous examples. For example, on T+3, the price of SGX suddenly plunge to $3.50 and you have no choice but to sell it at this price. Thus your loss before brokerage fees in this case is ($5.00-$3.50) * 2 lots * 1000 shares = -$3000 and that will be disastrous if you do not have the funds to pay for it.

Source: Moneytalk: What is contra ?

What is cash upfront trading?
1) You need to have the cash before you can purchase any shares
2) Cash upfront purchases through DBS iBanking are charged at a lower rate than standard trades through DBS Vickers, but you cannot sell through this service (unless you sell within the T+3 settlement cycle). Once settlement is complete and the stock is deposited in your CDP account, you sell via DBS Vickers or another linked brokerage account at normal trading trades.
3) Contra trading is not possible through Citibank, Standard Chartered and DBS iBanking cash upfront trades.
4) Most Singapore stock brokers will expect you to open an account with the central securities depository (CDP) and hold SGX listed shares in that.However, two firms – Saxo Bank and Standard Chartered – hold your shares in a nominee account on your behalf. This means that the shares are legally in the name of their nominee company, although you are the beneficial owner of them.

Whether nominee accounts are any less safe than holding shares in your name, as some investors believe, is debatable. Using nominee accounts is standard practice for almost all traders in most countries, but rare for local stocks in Singapore (foreign stocks bought through a Singapore broker are always held in nominee).

However there are a few points to remember with a nominee account:
1) Since your name is not on the shareholder register, you will not automatically be entitled to receive annual reports and attend and vote at the annual general meeting. Whether these rights are passed on to you depends on the stock broker – Standard Chartered will apparently do so.
2) You will not be directly credited with dividends or be notified of corporate actions, but the stock broker will process these on your behalf. Neither Standard Chartered nor Saxo Bank charge for this service.
3) Saxo Bank’s nominee account is classified as a non-individual foreign investor and so income distributions from S-Reits are subject to a 10% tax. This does not affect the Standard Chartered nominee account.
4) Shares held in your own CDP account can be sold through any stock broker account linked to it. Shares held in a nominee account can only be sold through that stock broker, unless first transferred out to your own CDP account.

Singapore Online and Telephone Brokerage Account Comparison Table

Main Difference between Standard Chartered Trading Account and DBS iBanking cash upfront trades.is
1) Shares purchases via Standard Chartered Trading Account will go to Standchart Nominee Account
2) Shares purchases via DBS iBanking cash upfront trades will go to your CDP
3) Shares purchases via Citibank brokerage Cash upfront trades will go to your CDP

Standard Chartered Bank safe-keeps securities purchased via our Online Security Trading platform as a nominee (not in CDP). What rights/ claims does Standard Chartered Bank have over the Securities placed under the Bank's custody?
The bank acts as a custodian to the Securities. While you remain the beneficial owner of the securities, please bear in mind the bank has certain rights over the Securities. For more information, please refer to Part E of the Investment Product Terms available HERE.

so if a person has 2 trading acc wif 2 brokerages, then can buy share A frm example cimb and sell through ocbc? or is the shares tat u buy frm a specific brokerage tied to it?meaning only can buy and sell frm the same brokerage in which u first used to buy tat stock frm.
because my initial tot was tt doesnt matter which brokerage u buy the stock frm, all will b placed in CDP and cn sell using other brokerage oso since the stock in CDP and not in the brokerage acc. However, i noticed that there's some charges for shares transfers between brokerages. Hence nt v sure if my initial assumption is true.


if you buy and sell local sgx shares in local brokerages like cimb or kimeng, the local sgx shares will be kept in cdp under sgx, so as long u paid up in cimb and is inside your cdp, you can sell it at kimeng as long it is linked to your cdp, there is no transfer or any sort of fee involved doing cross brokerage selling but normal sales charges from sgx will apply

but for foreign shares, it will be kept in the respective brokerage custodian account so if you wan to sell a US/HK shares u bought in cimb at kimeng, you need to transfer the US shares from cimb to kimeng first before u can sell at kimeng which is at a fee around $5x.00

but for standchart, there is no linkage to cdp, so local or foreign shares will be kept in their custodian account. If you want to sell your shares that are kept in the cdp, you MUST transfer your local sgx shares from cdp at a fee of $10.80 (cant remember?) into your scb custodian account FIRST before you can sell in scb

hope the diagram clarify everyone confusion
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Old 02-03-2012, 12:17 AM   #8
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if anyone still have doubts regarding how to open your first trading account, feel free to ask any questions here or pm me also can

Agreed with you completely. If the broker doesn't like you he can do this.

One time he freeze my account limit so I couldn't sell.

I get punished when he actually made a wrong sell order. Nothing is fair in this world

Don't mess around with brokers cause they can be more powerful than the Lay person. This isn't America it is Asia

That's why it's always important to have at least 2 brokers. Always try to keep in touch with your broker. Constant communication is important even if you don't trade much.

If you haven't or never receive anything from him except forwarded email, then it's time to change broker la.

Brokers are like your chauffeur, some drivers like to be fetched, some like to drive themselves, but when there's time your car needs petrol top up or maintenance checkup, then it's time your chauffeur comes into play and support you all

No point paying your chauffeur to sit at home while u do your own driving. When u r drunk, call chauffeur, when you are oversea, call your chauffeur, when the car run out of petrol, call your chauffeur, when your car break down, call your chauffeur even if u like to drive yourself

Every clients will have their own brokers, even if its not an individual broker, there's also a team of brokers supporting you.

Get your broker msn, Skype, whatsapp, email and whatever mode of communication la

When the platform goes down, u have to call them to sell for u
When u need special arrangement to pay or receive money, call them.
When u need help on the platform, call them.
When u need receive funny looking letters from sgx or your shares, call them

----

u were saying end of the day is the broker plays an important part. meaning to say with the cimb platform, a broker would still be needed.
yes, you are correct.

Not only cimb,but it's the same when u open an accounts with any of the local brokerages firms(except Standchart).

Alot of retailers thought they are independent and have never heard from his broker before and assumes that he doesn't have a broker but in fact maybe because they are smaller fishes and so some brokers usually don't pay any attention to them or maybe because their brokers are lazy and bochup but still he will get a cut of the commission transacted when you does any buy or sell.

I want to trade on my own and so i don't need any broker and so can I pay a faction of the commission?
You will still be paying the same commission when u key the trades yourself on the Internet. This is industry practice. Even if you say you won't be assigned a specific broker, there will still be a team of brokers serving you to key trade when u call in + chase payment from you and commission will still be charged the same too

When u call in to get a broker to place trades, the commission fee will twice as much as when u key trades by yourself

I don't want a broker, can't I just key the trade myself?
Yes, you are still able to key the trades yourself via the online platform even if u have a broker.

Under exceptional case like when the web platform goes down, you can call the broker to give n still charge the online rate.

Or else it's always offline rate when a broker key trades for you

using a simple example, you are tiger wood, then your caddy is your broker



so now you are going to sign up for a golfing membership, with/without a caddy, you are still paying the same, so will you prefer to have a caddy or without a caddy following you?

-----------
i have received many pm asking me how to begin trading or investing in sgx.

to those who likes and prefer to research on their own.
http://deluxeforums.hardwarezone.com...52-post85.html

For beginners to sgx investment, for a start or first stage of learning, research the following;

-What are the various sectors or industry?
-What are the listed stocks in each sectors?
-From the listed stocks, identify the bluechips that are in each sectors?
-Identify and split the other listed stocks that have daily liquidity and without liquidity into 2 groups
-now you have these 2 groups of stocks, identify which board are they listed on, mainboard or catalist,
-then read about their fundemental, their owner, their track record, their nationality, where most of their business are located
-use yahoo or google or sgx announcement read their historical news and how it influence the price.

by then you should be familiarised with a handful of companies and also the interface of sgx.com.

at this stage, off the hand you must be able to identify and name some of the listed company when discussing with your friend, you should be able to travel around singapore and see some of these listed companies business everywhere like for example, you should be able to identify comfortdelgo taxi, sbs buses, smrt mrt, dbs atm, uob bank, plaza sing shopping center in reits, your telco bill etc

once you have these informations, you will proceed to the 2nd stage of learning, that will be to go into the market and start to test water but before you go into the market. knows what is the
1) operating hours of various global markets especially singapore market.
2) the different order types that you can use to send in orders
3) understand what does bid/ask price means, what do open, day high, day low, and close price means
4) understand about market depth and how it influence the bid/ask spread you see.
5) learn about times&sales, trade summary
6) learn basic charting to time entry and exit.
7) learn how to navigate your broker platform interface
8) understand what is t+5, how to make payment, how to read your cdp statement etc
9) choose a company from your own virgin research and buy small small to have a feel of owning a listed company and monitor it, losing money or making a profit from it is not the primary motive at this stage now.
10) by now you should be very motivated to wake up early to see the market, read about other companies news and start reading the business time and money section

3rd stage of learning will be more abit advanced which will require alot of intensive reading. you need to learn how other global or local news will affect a stock market etc singapore market, and each of their sector and industry. know who is the big brothers, how these big brother fiscal or monetary policy will affect the global fund movement across all different asset classes, and how these asset classes will in turn affect each global market and how asset classes movement will in turn affect each market sectors/industry and its companies etc

4rd stage of learning will be to understand and appreciate the conspiracy theory and the dark side of the market but this is not applicable to everyone

it is an ongoing and lifelong process lah.

i always tell my virgin newbies clients, you spend 6 years in primary school to prepare for your secondary school education, after which you spend 4 years in your secondary school to prepare for 3 years poly or 2 years in jc to prepare for 3 years of university (total of more of than 10 years of learning) before you really step out to the working world to earn your first month salary.

so dont expect to just pick up a couple of book, invest for a few weeks and then start to believe you can become the next warren buffett or george soros and start making a living out of it.

enjoy your journey
i have also summarise the most basic things that one should know before stepping into sgx below
----------------------------------------------------------------------------------------

In sgx, it is made up of 2 boards; mainboard and catalist. the mainboard usually made up of majority of the stocks while catalist are mostly the smaller companies

The stocks that usually has alot of liquidity are refered to as the bluechips components which make up the sti known as the strait time index.

Stocks are categories into different sectors like properties or commodities etc.

There are around 800+ stocks in sgx, these shares companies can be located in china, indonesia, hongkong, malaysia but most of them operates in singapore.

Then within so many of the stocks, there are stocks which are reits and trusts, dividend stocks, defensive stocks, bluechips, pennies and even micropennies.

Orders in sgx are only limit orders or the less commonly used type like fak or fok.

The spread of a stocks is defined by the market price too for example stock price below 20c, is $0.001, between 20c and $2 is $0.005, then stock price above $2 is $0.01.

and shares must be bought based on lots size. 1 lot = 1000 shares or 1 lot = 500 shares depending on the stock information.

For investors, you must know about how stocks are affected by dividend, cd, xd, right issue or placements or the earnings announcement and also know the basic fundemental like p/e, eps, nav etc.

For contra traders, you must know about the different type of market particpants that are involved in the market like the bb, the propetiary traders, the retailer, the aunty/uncle, and most importantly the funds and understand how prices because of their involvement and actions etc

then trader must also know how to interpret the bid.ask queue, the times&sales, trade summary and most importantly the market depth and how the movement of singapore market are affected and influenced by the global markets and also the trading hours of market such as nikkei, hsi, sse and europe market like dax, ftse, cac etc.

beside shares, you can also buy preference shares or retail bond in sgx too.

most of the information about singapore exchange can also be found under SGX - Singapore Exchange Ltd

happy trading

feel free to pm me for more queries about the singapore stock market too.

Before starting, perhap you can go to another thread i written below to begin
http://deluxeforums.hardwarezone.com...r-3121989.html
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Old 02-03-2012, 09:50 AM   #9
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Q5 and 2nd post: Why no DBS Vickers? or is it there under another name or something?
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Old 02-03-2012, 10:05 AM   #10
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Before you walk into any brokerage firm, check that you brought along the following documents and details
1) Singapore IC or Singapore PR card
2) name card (optional) or student card
3) bank account number
4) latest cdp statement --> How to Open a Stock Trading account in Singapore-Updated 2012

Walk into a brokerage firm customer service counter etc Cimb securities, a typical conversation will be

Customer service : "welcome, how can I help you?"

You : I would like to open a trading account

Front desk Customer service : "can I have your ic?"

*pass her your ic*

Front desk Customer service : "thank you sir, can I ask do you have any broker or Remiser that you would like to open under?"

You: yes, I would like to open under the dealer by the name of xxxx
Or
You : no, I don't have any dealer in mind.

Front desk Customer service : "please take a seat"

*front desk customer service officer will prepare the form and lead you to another place when another officer will go through all the form with you*

2nd Customer service : "good afternoon sir, can I ask is this your first trading account"

You: yes, I do not have any trading account previously and this is my first trading account

2nd customer service : "in this case I would help you open a Cdp account also"

*2nd customer service proceed to fill in and go through the form with you*

2nd customer service: "sir, how do you want to make payment for any shares purchase? We have giro, eps and also multi currency trust."

You: I would like to pay my shares via eps/giro etc (choose one)

2nd customer service: "in this case, which bank account do you intend to pay with? We accept eps via banks like POSB, DBS, Ocbc UOB, Cimb. Can I also have your bank account number too"

*2nd customer service proceed to fill in the bank account number*

*2nd customer service will then explain the term and condition and also the risk disclosure carefully and will tell you which page to sign*

2nd customer service : "your form will be processed immediately and your account will be ready within 5 days. Once your account is opened, the dealer assigned to you will contact you"

You: thank you very much
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Old 02-03-2012, 10:12 AM   #11
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thanks for useful sticky!! so am i right to say that it would be cheaper for me to buy thru dbs cash upfront then sell through any other platform i prefer?
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Old 02-03-2012, 10:21 AM   #12
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thanks for useful sticky!! so am i right to say that it would be cheaper for me to buy thru dbs cash upfront then sell through any other platform i prefer?
from what i read and understand, yes you are right, buy is 0.18%, after T+3 sell is 0.28% with dbsv or other brokerages.

but i read somewhere that as long u sell withint T+3, it is still 0.18% but it is not 'contra-able'.

Beside DBSV cash upfront with shares that are bought goes into CDP instead of custodian, cimb has also joined in the fray,

pls find below cimb securities cash upfront methods and how to activate it too

Login to cimb bank starsaver first


Select the "link my cimb securities cash trading" option


Select the cimb bank account that u wish to debit from, then input your cimb cash trading account number


Make sure your pop-out blocker is DISABLED.

Key your cimb securities userid and password


check and verify the information is correct or not


to do a cash top up, login to your cimb securities account, then go [services] --> [cash top up]


i. Cash Top-Up service allows you to transfer funds from your linked CIMB Bank StarSaver account to top up your Investment
Power.
ii. Cash Withdrawal service allows you to transfer cash back to your linked bank account.
iii. Cash Balance service allows you to view snapshot of your Cash Upfront Investment Power, Daily fund movements, Intra-day
trade and Outstanding positions.
iv. Cash Transaction History service allows you to view details of your cash top-ups and withdrawal transactions

How to key Orders with CUT Payment Mode

CUT is a payment mode designated for the Cash Upfront settlement.



Follow the steps below to trade using Cash Upfront:
Step 1 : Select the trading account that is linked to the CIMB Clicks Account.
Step 2 : Select CUT from the payment dropdown menu.
Step 3 : Ensure that the Investment Power is sufficient for trading.
Step 4 : Click ‘Buy’ to place the order.
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Old 03-03-2012, 07:59 AM   #13
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Q8.Do I/we need to place an initial deposit for opening a Cash Trading Account?
You may be asked to place an initial deposit and this deposit will save as collateral for assignment of trading limits. For young investors, you are required to place an initial deposit.
Does anyone know what is the initial deposit required for Philips?

Is there any cost involved at all in opening a CDP, Philips Cash Management account and Poems account at the same time?
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Old 03-03-2012, 09:05 AM   #14
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Does anyone know what is the initial deposit required for Philips?

Is there any cost involved at all in opening a CDP, Philips Cash Management account and Poems account at the same time?
It is free to open a Cdp and a trading account and for your case poems account

No fee involved until you buy or sell a shares

Poems initial deposit I heard is $2000 for young investor, and $1000 for above 21 which I heard during promotion will be waived
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Old 03-03-2012, 10:08 AM   #15
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you mean all those above 21 have to pay $1000 to open a poems account? The poems website doesn't explicitly say anything about fees for general users who are not under 18 or nsfs, so I'm a bit unsure.
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