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

Rainbow1112

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Hi guys.. 1st time user..

I looking to open 1 acc with ocbc because I use ocbc mainly but there quite a number of different account available for ocbc which account should I open if I going to buy the Singapore Savings Bonds in the near future?

Also how do we fund the trading account? Directly from our bank acc?
 
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Sinkie

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Hi guys.. 1st time user..

I looking to open 1 acc with ocbc because I use ocbc mainly but there quite a number of different account available for ocbc which account should I open if I going to buy the Singapore Savings Bonds in the near future?

Also how do we fund the trading account? Directly from our savings acc?

Singapore saving bonds? You just need a Cdp account + a saving account + Atm card. You do not need any trading account here

The requirements are that you must be an individual investor, have a DBS/POSB/OCBC/UOB bank account + CDP account

Go down Cdp to open with your Ocbc bank account number for your case
 

Rainbow1112

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Singapore saving bonds? You just need a Cdp account + a saving account + Atm card. You do not need any trading account here

The requirements are that you must be an individual investor, have a DBS/POSB/OCBC/UOB bank account + CDP account

Go down Cdp to open with your Ocbc bank account number for your case

If I wan to open a trading account to trade shares in the future does iocbc help to open the CDP account too? Do I need to deposit $$ to open the account? Also will they account be close after some non-activty?
How do we fund the trading account? Directly from our bank acc?

PS really Noob on this even after reading the 1st post.
 
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Sinkie

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If I wan to open a trading account to trade shares in the future does iocbc help to open the CDP account too? Do I need to deposit $$ to open the account? Also will they account be close after some non-activty?
How do we fund the trading account? Directly from our bank acc?

PS really Noob on this even after reading the 1st post.

Oh sure, iocbc will be able to help u open a Cdp account when you are there in person (not Ocbc bank, but iocbc one at Cecil street).

You do not need to deposit any money to start buying and there is no inactivity fee or maintenance fee at all

Account not used for 10 years will be declared as dormaint. To activate it after 10 years, just drop by or do a phone call to verify your identity to start using it again

Funding of trading account is by eps, giro, cash or cheque
 
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Rainbow1112

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Oh sure, iocbc will be able to help u open a Cdp account when you are there in person (not Ocbc bank, but iocbc one at Cecil street).

You do not need to deposit any money to start buying and there is no inactivity fee or maintenance fee at all

Account not used for 10 years will be declared as dormaint. To activate it after 10 years, just drop by or do a phone call to verify your identity to start using it again

Funding of trading account is by eps, giro, cash or cheque

using Giro should be the easiest right?
 
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Sinkie

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using Giro should be the easier right?

it depends, most prefer doing it eps because they can control the timing of payment.

and also if by using giro, your settlement become t+4 while if u do eps, your settlement is default t+3
 

Rainbow1112

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it depends, most prefer doing it eps because they can control the timing of payment.

and also if by using giro, your settlement become t+4 while if u do eps, your settlement is default t+3

From iocbc website..

If your trading account is linked to Electronic Payment for Shares (EPS) service, you can pay for purchases and contra losses via EPS service at any ATM or phone banking or internet banking services made available by your bank.
Available banks : OCBC, DBS/POSB, UOB
EPS should be made latest by the due date* before 9pm so that we will receive your payment by the next market day.

That mean using EPs we Nid to manually make the payment using the available mode?
 

Sinkie

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From iocbc website..

If your trading account is linked to Electronic Payment for Shares (EPS) service, you can pay for purchases and contra losses via EPS service at any ATM or phone banking or internet banking services made available by your bank.
Available banks : OCBC, DBS/POSB, UOB
EPS should be made latest by the due date* before 9pm so that we will receive your payment by the next market day.

That mean using EPs we Nid to manually make the payment using the available mode?

yes, when u choose payment mode as eps, u need to manually do payment.
 

Sinkie

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What if we do not make payment? Any interest fees or other fees?

no penatly, but your share will be force sell if payment is not made in time + charged offline fee as penalty + 1 week susenspion
 

neolaw

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Hi. A newbie question.

Can I sell the stocks I buy this morning in the evening (same day)?
 

milesman

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I'm interested to trade stock market indices (SGX,NIKKEI) and considering to open a account trading vis Phillip Securities.

1. Which type of account under Phillip Securities allows me to trade indices?
2. Do you have to pay any deposit to do trading for Phillip Securities?

Thanks!
 
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Sinkie

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I'm interested to trade stock market indices (SGX,NIKKEI) and considering to open a account trading vis Phillip Securities.

1. Which type of account under Phillip Securities allows me to trade indices?
2. Do you have to pay any deposit to do trading for Phillip Securities?

Thanks!

http://www.phillipfutures.com.sg/

more information can be found here.

futures is a leverage trading, and so deposit is definately needed.
 

rocky86

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Hi, i am new in trading, just get my CDP account opened few day ago, so need some advise on which broker platform should I open my trading account with?
 

Perisher

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Hi, i am new in trading, just get my CDP account opened few day ago, so need some advise on which broker platform should I open my trading account with?

Depending if you are buying/selling in big amount.
If less than 10k

SCB. Cheapest. Minimalist platform.

Other brokerages, you would need to compare their promo but all of them comes with hefty trading comms and many other fees. e.g. quarterly fees, maintenance fees, admin fees...:s22:

The situation changes if you are buying/selling more than 9-10k each time.

SCB is an unstable platform, down 5-6 times a year and has some dividends/share infor lacking and unlikely to be able to attend AGM.

Other brokerages has more stable platform, will provide the details of the dividends/shares distribution, otherwise call their brokers, and can attend AGM.

The fees charged by SCB and other brokerages meet around this 9-10k mark and SCB doesn't have any advantages here anymore, may even cost more.

All the above assumes you are not using CPF.
Personally, I buy/sell way less than 9k each time, so SCB is the only choice.
 
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rocky86

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Depending if you are buying/selling in big amount.
If less than 10k

SCB. Cheapest. Minimalist platform.

Other brokerages, you would need to compare their promo but all of them comes with hefty trading comms and many other fees. e.g. quarterly fees, maintenance fees, admin fees...:s22:

The situation changes if you are buying/selling more than 9-10k each time.

SCB is an unstable platform, down 5-6 times a year and has some dividends/share infor lacking and unlikely to be able to attend AGM.

Other brokerages has more stable platform, will provide the details of the dividends/shares distribution, otherwise call their brokers, and can attend AGM.

The fees charged by SCB and other brokerages meet around this 9-10k mark and SCB doesn't have any advantages here anymore, may even cost more.

All the above assumes you are not using CPF.
Personally, I buy/sell way less than 9k each time, so SCB is the only choice.

Thanks bro for the advise, I don't think will buy/sell more than 9k as a noob =:p, any other things I need to take note before trading? how does the scb broker fee works? and is there any minimum amount that I must top up for trading? o
 

ccostagmont

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dear Sinkie,
shooo fast 3 years passed liao - i missing in action for beri nong... just now thinking of letting go of those $$$ losing stocks from 2008... bought using iocbc account.
want to sell using CUT, but come out error message saying simi Error 500 - you do not own any shares.

does that mean i need to select "short sell" on cimb platform - even though it isn't a real short sell (since the shares are in my cdp account)?
 

Sinkie

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dear Sinkie,
shooo fast 3 years passed liao - i missing in action for beri nong... just now thinking of letting go of those $$$ losing stocks from 2008... bought using iocbc account.
want to sell using CUT, but come out error message saying simi Error 500 - you do not own any shares.

does that mean i need to select "short sell" on cimb platform - even though it isn't a real short sell (since the shares are in my cdp account)?

Ohh, because cut is for buy only, then to use cut to sell, the share u selling must be bought with cut and within t+3 leh

So when u sell tmr, choose "cash" to sell

Tmr you whatsapp me lah
 
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