facebookI was looking at some stocks to buy but these stocks were not offered on other RSPs offered by the major banks. Can someone advise me how to buy stocks on sgx platform and its charges? - Seedly

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Anonymous

10 Dec 2019

โˆ™

Stocks

I was looking at some stocks to buy but these stocks were not offered on other RSPs offered by the major banks. Can someone advise me how to buy stocks on sgx platform and its charges?

What is the general flow when a person wants to purchase stocks. Could anyone share a step by step guide pls! Also what accounts do you need?

Discussion (7)

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  1. Walk to a brokerage company such as DBS vickers, POEMS/Philips, Lim&Tan, KimEng, KayHian. Tell them I want to open a brokerage account and (CDP account if you don't have yet)

  2. Complete the paperwork

  3. Go home, wait for a few week. Meanwhile research about the stock you are interested in

  4. When your brokerage is set up, Find the stocks you are looking for in the brokerage platform and buy

Bjorn Ng

09 Dec 2019

Business Analyst at 10x Capital

Hey there! I can share with you some details, it might seem a little overwhelming, so bear with me! Let me know if you have any questions too :) I just answered a similar question too.

So as a start, you need a Central Depository Account (CDP). Think of this like your stocks account - whatever stocks you buy will be stored in your CDP account.

Then, you need a brokerage account. Think of this like your bank account debit card - you will use the brokerage account to buy/sell stocks. There are several brokerages out there you can pick from, but for your ease of reference on lowest fee, take a look at DBS Vickers Cash Upfront or Stand Chart Trading account (I am using both). Some slight difference on both though:

DBS Vickers: Upon purchase of stock, it will be stored in your CDP account (same as explained above)

Stand Chart Trading: Upon purchase of stock, it will be stored in your SC Custodian account. Seedly did a very good explaination of both here! https://blog.seedly.sg/cdp-vs-custodian-account/

Once completed above, viola! You are ready to invest :) If you want more information on account opening, check this link: https://forums.hardwarezone.com.sg/stocks-share... (I literally started from here too!!) One tip though, always invest ONLY in what you can afford to lose! Let me know if you need any help!โ€‹โ€‹โ€‹

Elijah Lee

30 Jun 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

To buy shares that are trading on SGX, you need to open a CDP account and a trading account with a b...

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