Is it possible for a Singapore bank CDP account to buy overseas stocks and indexes?
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thefrugalstudent
22 Jan 2021
Founder at thefrugalstudent.com
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No.
A CDP account is used to hold the stocks that is bought on SGX only. For overseas stocks, it will be held in custody by the broker.
If you are using a bank related broker, you will be able to trade in the overseas markets that it offer access to. The stocks will be held in custody by the broker and there may be related charges.
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Hi there,
To add on to what Shaun has mentioned, do note that while you can buy overseas stocks and ETFs via bank brokers (ie DBS, SCB), it is not advisable as they tend to charge ridiculous commission fees and/or custodian fees.
If you're looking to invest in international equities, do consider an online brokerage such as Tiger Brokers, Saxo or Interactive Brokers.
Hope this helps!
Regards,
thefrugalstudent