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

Sinkie

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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

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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.
 
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Sinkie

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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 :D
 

Khuulz

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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
 

IMPERIAL EMPIRE

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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?
 

Sinkie

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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.
 
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HandsumToad

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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 !
 

rejuvienate

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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.
 

Sinkie

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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??
 

Red_Cheesepie

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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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beary2teddy

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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
 

Sinkie

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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. :)
 

Deathzz

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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.
 

Sinkie

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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.
 
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kazuki666

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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?
 

Deathzz

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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.
 

Sinkie

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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?

When You open a new Cdp account, you need to sign 3 forms. One is for account opening form, another one is to allow Dbsv to access your Cdp account details, last one is the linkage form - CDP25A. So for your case I think all 3 signatures differ.

Therefore u won't have any buy limit since your Cdp acct is not yet linked with Dbsv, you must sign the exact signature that u signed on the "Cdp open form" on the CDP25A sent to u

if not you must go down and sign the "update Cdp signature" form first then sign the exact signature u sign earlier on the "update Cdp signature" on the CDP25A form lor

Process will take aga 2-3 days via snail mails to Dbsv + 3 to 5 working days processing by sgx so preferably to go down and settle better
 

wallgazer

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unemployed and would like to start trading

I am currently unemployed and would like to start trading. Do you know of any brokerage firms that are less concerned on my source of income and will allow me to open an account with them?
 

Sinkie

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I am currently unemployed and would like to start trading. Do you know of any brokerage firms that are less concerned on my source of income and will allow me to open an account with them?

Standard chartered do not need to see your income. You buy with cash upfront
 

Nif1990

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Standard chartered do not need to see your income. You buy with cash upfront

what are the negative point with scb?
thinking of opening an account with them to trade both US and SG stocks,
account size ard 8 to 15k
m not a fan of contra
 

Sinkie

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what are the negative point with scb?
thinking of opening an account with them to trade both US and SG stocks,
account size ard 8 to 15k
m not a fan of contra

Imo better to have a ready broker and a Cdp account before you open a scb account "in case" rules and regulation changes for them when temesak sell off all their scb shares to some foreign entity.

http://www.straitstimes.com/breaking-news/singapore/story/temasek-looking-sell-12b-stake-stanchart-20120926

Other than that their platform and execution is slow and not as reliable as other brokerages but because its no minimum comm so there is still people using it to invest
 
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