16 Jun 2021
From my understanding, moomoo and tiger brokers use custodian accounts, meaning to say i don't own the stock since it's not under my cdp right? will i still get dividends for sg stocks?
these two brokers have very attractive transaction fees though...
22 Mar 2021
Founder at thefrugalstudent.com
You're right that they use custodian accounts. However, this simply means that when dividends are paid out, they will be credited into your brokerage account. In the case that you hold stocks in your CDP account, you'd receive your dividend payouts directly in your bank settlement account that you use. So the difference is simply where your money is paid to.
Hope this helps!
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