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

[Sinkie]

That's ok with me cause can use FAST to transfer between banks. One problem i can see if $ is not credited instantaneously for me to buy another stock if i sell via Citibank. But that's the same problem if i sell via DBS as well?

yeah, if you sell after t+3, sales proceeding will come in on t+3 back to citi bank, then when u wan to buy a new share, u have to buy with dbs contra (at a higher rate) and settle on t+3

but if you sell within t+3, sales proceeding will come in on t+1 back to dbs account and so no problem for you

why not i suggest to you, open a cimb starsaver account and go with cimb securities? no minimun balance required, has higher p.a interest at 0.8% vs 0.05% offered by dbs, same rate as dbsv for cashupfront trading at 0.18% and $18 also. can use ifast also

 

[darkmatt]

cdp only takes 2-3 days to link..

3 days come and gone..

 

[Sinkie]

3 days come and gone..

u need to call citibank to ask, i wont know what and why is taking the delay

 

[darkmatt]

u need to call citibank to ask, i wont know what and why is taking the delay

i just called.

they told me they recieved the form on 4th and submitted to CDP(which means its 3rd day today.)

and told me that it will take 10 - 12 working days to process the linkage.

1 month come and gone, cant even start trading yet

 

[darkhorizon]

Would like to check if I used CPF to buy stocks, will the brokerage fees be deducted from the CPF account or my CIMB trading account?

 

[Sinkie]

Would like to check if I used CPF to buy stocks, will the brokerage fees be deducted from the CPF account or my CIMB trading account?

Brokerage fee deducted from Cpf

 

[darkhorizon]

Brokerage fee deducted from Cpf

Thanks for the information!

 

[Sinkie]

Thanks for the information!

No problem

 

[darkmatt]

er sinkie, if i do trading with standard chartered, besides the brokeage fees, do i have to pay for sgx clearance fees and what not? coz when i opened brokerage with them, i did not enter my cdp number

 

[Sinkie]

er sinkie, if i do trading with standard chartered, besides the brokeage fees, do i have to pay for sgx clearance fees and what not? coz when i opened brokerage with them, i did not enter my cdp number

Scb is a custody broker and you still bear the clearance fee for Scb

 

[darkmatt]

I just called citibank.

The brokerage is approved. However, the hold up is at CDP linkage side.

they say will take TEN working days to link finish the CDP. (even GIRO already linked finished). Basically, trading account, funding all ready.


Is it supposed to take that long?

 

[Sinkie]

I just called citibank.

The brokerage is approved. However, the hold up is at CDP linkage side.

they say will take TEN working days to link finish the CDP. (even GIRO already linked finished). Basically, trading account, funding all ready.


Is it supposed to take that long?

Local brokerage is 3 working days.

Citibank not sure sorry as its not a proper brokerage

 

[darkmatt]

Local brokerage is 3 working days.

Citibank not sure sorry as its not a proper brokerage

yeah. 3 working days the account, giro all open already.

they say its CDP need 10 days.

basically, im waiting for CDP to link to my brokerage account. then can trade le

 

[Sinkie]

yeah. 3 working days the account, giro all open already.

they say its CDP need 10 days.

basically, im waiting for CDP to link to my brokerage account. then can trade le

well, you cant do much, if they say 10 days, then 10 days, u cnt do anything.

 

[darkmatt]

well, you cant do much, if they say 10 days, then 10 days, u cnt do anything.

first time i hear cdp need 10 days..

oh well =/

 

[AizenSousuke]

I have savings account in dbs.
I would like to open dbs vickers.
Must i personally go to dbs bank counter to apply or i can do it through online application.
I do not have cdp either.

Go bank do better. They can advise you. Online 'leceh' (troublesome).

 

[oreo_guy]

hi bros

currently I have shares with ocbc

but I'm not happy with my broker and would like to have a change

however I do not want a random broker

may I know is there any portal or avenue where I can choose a broker? say if I prefer a male broker?

 

[Sinkie]

Go bank do better. They can advise you. Online 'leceh' (troublesome).

cdp must be opened in person.

bank (dbs/ocbc/uob) do not opened cdp for retailers, must go brokerage firms (cimb, dmg, uobkh, dbsv etc) or cdp at 11 North Buona Vista Drive #06-07 The Metropolis Tower 2. Singapore 138589

remember to bring IC go

 

[Sinkie]

hi bros

currently I have shares with ocbc

but I'm not happy with my broker and would like to have a change

however I do not want a random broker

may I know is there any portal or avenue where I can choose a broker? say if I prefer a male broker?

hi, is your ocbc linked with cdp, if so, u can actually open with other brokerage and then put in your preference, so to continue buy/sell your shares from cdp.

if your shares is instead under ocbc as custodian or margin, then bobian, u can just email or call ocbc, to request for a chg or ask around for recommendation from friends who have ocbc.

actually there are a few ocbc remiser lurking in this forum, or else if u dun mind opening another brokerage acct, can pm me ba..

 

[AizenSousuke]

Any place\bank\website that allow you to trade 1 share min and not 1 lot?