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

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Old 05-07-2012, 11:35 PM   #61
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Ohh, so you're saying I should just get a normal trading account and buy odd lots every month or whenever i like? I think the amount of money i will be able to spare per month would be around 300-500..
is your choice..

if your amt is 300-500 and unless you are only targetting 1 share out of the 21 shares provided, then is advisable to go oddlot market to buy



because for every month of one time share purchase of $300 (up to $3500), your commission is still $10 in the unit share market (300 x 0.28% = $10 commission, (assuming you dont buy $10 each time but $300 at one go),

then might as well you do it yourself, at least you get to choose other shares such as reits or even counters like singpost or certain sector like commodities or even any one of the jardines and experience the feeling of buying and making your own decision.

Last edited by Sinkie; 05-12-2012 at 07:05 PM..
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Old 05-07-2012, 11:39 PM   #62
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I went to check, i think they updated the age eligibility. Now its anyone above 18. Since they're only offering 19 shares.. don't think its a good idea already haha
i guess you have made your decision

good luck in your trading and investing journey
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Old 05-07-2012, 11:48 PM   #63
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yeah, so means like CIMB or OCBC youth account would suffice right? If that's the case, i would just go and open account there instead already
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Old 29-07-2012, 12:57 AM   #64
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hi, can anyone explain to me what is:

"Clearing Fees"

"SGX Access Fee"

Whenever trade in stock, must pay the commission charges and gst of 7% correct?

Standard Chartered Online Trading Commission is 0.2% and states no minimum commission, I check other brokerage firms range from 0.275% - 0.28% for Online and Non-Advisory Trades. Standard Chartered is it the lowest currently?
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Old 29-07-2012, 11:19 AM   #65
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hi, can anyone explain to me what is:

"Clearing Fees"

"SGX Access Fee"

Whenever trade in stock, must pay the commission charges and gst of 7% correct?

Standard Chartered Online Trading Commission is 0.2% and states no minimum commission, I check other brokerage firms range from 0.275% - 0.28% for Online and Non-Advisory Trades. Standard Chartered is it the lowest currently?

"Clearing Fees"
A charge assessed by a clearing house (SGX) for clearing securities trades using its own facilities.

"SGX Access Fee"
Commission charged by sgx

Both of these charges are chargeable for 7% gst as well and are collected on behalf of sgx too.

you are still liable for these charges even if u are using standchart

Standard Chartered is not the lowest, but just that it doesnt charge minimun commission of $25. This is recommended for people who do not need contra facilities or invest very little like below $5000 for each stock purchase.

But there is always a tradeoff for such low commission charges so do not expect reliable stock platform.

Last edited by Sinkie; 29-07-2012 at 11:22 AM..
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Old 05-08-2012, 08:47 PM   #66
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I'm sorry to ask,I've read the guide but I'm still not very sure which account i should go for.
I'm hoping to open a account but w limited capital.
Great Thanks !
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Old 08-08-2012, 07:22 PM   #67
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Sidetrack abit.. anyone heard about this SGX virtual stock market platform that starts on September? My knowledge about stocks/trading is almost close to 0. But i'm going to try and learn abit of things from there, and also read books on it.
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Old 09-08-2012, 07:13 PM   #68
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Sidetrack abit.. anyone heard about this SGX virtual stock market platform that starts on September? My knowledge about stocks/trading is almost close to 0. But i'm going to try and learn abit of things from there, and also read books on it.
i think you are talking about sgxwhizz, the competition??
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Old 17-08-2012, 12:29 PM   #69
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Anyone can advise me how come my DBS cashupfront account got balance even though i already use up all the funds and withdraw any balance. seems like there is a cash rebate? I balanced all my credit and debit and the money in the cashupfront is extra. please advise?

EDIT: Okay, just received letter from DBSvickers and the credit is a trade promotion.

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Old 26-09-2012, 07:03 PM   #70
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hi

would it be advisable to open an account with stand chart, as they do not have a minimum charge (I won't be trading large amounts of money).

But I read your first few posts, and it seems they don't have CDP, so I'm not sure if that is a good or bad thing
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Old 27-09-2012, 05:59 PM   #71
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hi

would it be advisable to open an account with stand chart, as they do not have a minimum charge (I won't be trading large amounts of money).

But I read your first few posts, and it seems they don't have CDP, so I'm not sure if that is a good or bad thing
Open a Cdp account with sgx first then open Standchart if minimum commission is an issue.
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Old 10-10-2012, 08:14 PM   #72
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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'
not contra-able?

does it mean i buy and sell within T+3, i still have to pay for what i buy initially using the cash upfront balance, then the money will come in T+3 into my EPS account after i sell the stock? rather than just the differences deducted or credited in my cashfront account.
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Old 10-10-2012, 08:21 PM   #73
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not contra-able?

does it mean i buy and sell within T+3, i still have to pay for what i buy initially using the cash upfront balance, then the money will come in T+3 into my EPS account after i sell the stock? rather than just the differences deducted or credited in my cashfront account.
If you want to play contra (paying just the difference), it's 0.28% but using the Dbsv or other brokerages like CIMB,

if u want the cash upfront before buying, it is 0.18% using the Posb website.

Last edited by Sinkie; 12-10-2012 at 05:43 PM..
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Old 12-10-2012, 12:26 PM   #74
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Hi guys, I need some help here.

I just tried to open a CDP account with DBS vickers abt 2 wks ago, and I received the confirmation and login earlier this week, and I am able to login le.
But strangely I just received a sms a few mins ago with the below message:

Dear Client, pls be informed that CDP has declined yr CDP linkage due to signature differ. We have resent you the CDP25A form for your signature again via post.

So what now? I don't touch anything until I re-sign this CDP25A?
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Old 12-10-2012, 05:26 PM   #75
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yes you need to link your cdp account before trading, for your stocks to reside or leave. they are quite strict about your signature. if still can't match, you will have to go down and update your signature.
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