facebookCan I still open a DBS Vickers account to invest in foreign stock exchange even though I do not have a CDP account open? Are there any things that I will need to show/ conditions that I will need to know before opening? - Seedly

Advertisement

Anonymous

31 May 2020

βˆ™

General Investing

Can I still open a DBS Vickers account to invest in foreign stock exchange even though I do not have a CDP account open? Are there any things that I will need to show/ conditions that I will need to know before opening?

Discussion (4)

What are your thoughts?

Sharon

Sharon

31 May 2020

Life Alchemist at School of Hard Knocks

Actually, there're a lot of options out there to invest in foreign stock exchange.

Do note that your profits are variable, but your expenses are definitely fixed. With that said, we often try to go for the platform that can save our costs better (low commission per trade & foreign exchange rates spreads). At the moment, I don't think DBS Vickers is one of the competitive brokers for buying stocks.

You can check it out here:

For Singapore Stocks:

https://blog.seedly.sg/the-ultimate-cheatsheet-...

For US Stocks:

https://blog.seedly.sg/how-to-buy-us-shares-in-...

As for HK stocks, FSMOne has low commission however from what I read elsewhere, their SGDHKD exchange rate may not be very good.

All the best!

Gabriel Tham

Gabriel Tham

07 Jun 2019

Tag Team Member at Kenichi Tag Team

Investing in foreign stocks do not require CDP because foreign stocks will be held in custodian with your bank or brokerage.

​

CDP only holds local SG products.

​

You probably need to take note of the custodian charges and fees, as well as any taxation, when investing in foreign stocks.

View 1 replies

CDP account is required only if you trade on SGX. However, I recommend you to have a CDP account - I...

Read 1 other comments with a Seedly account

You will also enjoy exclusive benefits and get access to members only features.

Sign up or login with an email here

Write your thoughts

Advertisement