facebookCan I transfer my custodial shares in broker A into CDP of broker B? - Seedly

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Anonymous

06 Aug 2020

General Investing

Can I transfer my custodial shares in broker A into CDP of broker B?

Or I have to sell them and buy it in the new brokerage?

Discussion (2)

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Baby Steps Finance

06 Aug 2020

Seedly Student Ambassador 2020 at Seedly

The trick is that once you transfer to CDP, you don't have to worry about which broker you go to. In fact you can jump brokers until you are happy but still incur no transfer fees. But you need to first transfer you stocks in custodian to CDP which is about $50 per company

Duane Cheng

06 Aug 2020

Financial Consultant at Prudential Assurance Company Singapore

Hi there,

CDP is only involved with regards to SGX listed stocks. You could do a broker to broker transfer, which would be labled as a securities transfer. Otherwise transferring your holdings to your CDP might be another option.

Securities transfer depends on your brokerage, and often they have outgoing fees with regards to custodian transfer. It could range from 50 - 100 per ticker, depending on the brokerage and the country in which the stock is domiciled in.

Hope i was able to shed some insight!

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