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

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Laneige

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i see that uob send me some letters occasionally n saw gold/silver etc on it. this is my CPD or whatever account? so the next time i need to do is to find trading firms like philips, OCBC???, uob??? etc to open a trading co? how does one make payment for the stocks? open with who is most straight forward when it comes to paying $$$ n receiving $$$? sorry super noob.

any firms that allow 'dummy' or testing trading? to learn first, test it out as in how to buy n sell stocks, learning from trading mistakes etc? so based on real data but no money is used to buy n sell?

thanks
 
Sinkie

Sinkie

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Laneige said:
i see that uob send me some letters occasionally n saw gold/silver etc on it. this is my CPD or whatever account? so the next time i need to do is to find trading firms like philips, OCBC???, uob??? etc to open a trading co? how does one make payment for the stocks? open with who is most straight forward when it comes to paying $$$ n receiving $$$? sorry super noob.

any firms that allow 'dummy' or testing trading? to learn first, test it out as in how to buy n sell stocks, learning from trading mistakes etc? so based on real data but no money is used to buy n sell?

thanks
Click to expand...

Payment can be made via eps, giro, cash or cheque

Eps or giro can be made via all local major banks

Can try trade hero for simulation testing trading
 
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blengend

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Can I check if CIMB Securities Cash Upfront still puts your shares directly to CDP? Or will the stocks be held in custody, like Standard Charter
 
Sinkie

Sinkie

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blengend said:
Can I check if CIMB Securities Cash Upfront still puts your shares directly to CDP? Or will the stocks be held in custody, like Standard Charter
Click to expand...

Are you new or existing account?

If you are existing account -
- cash upfront shares goes into your Cdp
- cannot buy foreign shares with cash upfront
- if u want to buy the foreign share, then open another cash upfront account that's link with to a custody account

If you are a new account -
- you will have 2 trading accounts opened by default, 1 link to cdp, 1 link to sub-Cdp
- when u using cash upfront for sgx share, u will have the option to choose to buy and deliver to Cdp or to custody now
- to buy cash upfront n deliver to Cdp, use the 1 account linked to Cdp to buy using settlement = cut
- to buy cash upfront n deliver to the sub cdp, use the 2nd account to enjoy the selling at 0.12% also after t+3, choose the 1 account that's linked to the sub Cdp

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Existing account holder can approach their Brokers for the form to open the 2nd account linked to the sub Cdp for sgx and foreign shares also.

Without the 2nd account linked, u won't be able buy foreign share at cash upfront rate le
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Difference is if u use custodian account to store your shares, when u sell anytime (after t+3 or t+365), u will sell with the cash upfront rate

If u use cdp to store your share bought from cash upfront, enjoy cash upfront rate if sell before t+3, but normal brokerage at t+3 and more
 
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blengend

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Sinkie said:
If you are existing account -
- cash upfront shares goes into your Cdp
- cannot buy foreign shares with cash upfront
- if u want to buy the foreign share, then open another cash upfront account that's link with to a custody account
----
Existing account holder can approach their Brokers for the form to open the 2nd account linked to the sub Cdp for sgx and foreign shares also.

Without the 2nd account linked, u won't be able buy foreign share at cash upfront rate le
----

Difference is if u use custodian account to store your shares, when u sell anytime (after t+3 or t+365), u will sell with the cash upfront rate

If u use cdp to store your share bought from cash upfront, enjoy cash upfront rate if sell before t+3, but normal brokerage at t+3 and more
Click to expand...

I'm existing.
Sub CDP is the name of CIMB's custodian account is it?
If use CDP buy is 0.12% but sell after T+3 is how much ah
 
Sinkie

Sinkie

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blengend said:
I'm existing.
Sub CDP is the name of CIMB's custodian account is it?
If use CDP buy is 0.12% but sell after T+3 is how much ah
Click to expand...

Oh existing? Just continue to buy using settlement=cut for cashupfront at 0.12%

Sell within t+3, is 0.12%

Sell AFTER t+3 is normal brokerage at 0.275% already
 
sevensomerset

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IB = interactive brokers, like kimeng, scb
but they charge inactive fee?
below 30 trades per month will be charged $30?

btw, if trading US stocks, pls notice u r subjected to 30% withholding tax on dividneds receive. heard tat if its ETF(bought from US) u holding, got tax return.
 
riCKyz

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hello all,

im also new to trading. now im finding a platform that is easy to understand and also apple device friendly. any platform to intro?

and also i rmbed about 6-7years ago i opened a POEMS account but i duno whether i got CDP account anot.. how to check ah?
 
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