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Anonymous

11 Jun 2020

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General Investing

Is there a minimum sum to open up the cash up front account? I noticed that it's only applicable to buy trades but how about selling trades?

DBS Vickers Securities

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YongLun

11 Jun 2020

Hi, I could speak for DBS Vickers. No minimum sum as far as I am aware. You just need to deposit enough to pay for the shares and any applicable fees.

Regarding the part on selling, I tried doing so (i.e. deposit fund to sell shares through cash upfront account to save some commission) and it does not work. In order to sell your shares through cash upfront account, you could only do so before T+2; i.e. before your shares are deposited into CDP and Vickers have no way to track it. Cheers.

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I am trying to open an online trading account. What is the difference between self-directed online cash trading account and broker-assisted online cash trading account?

Just applied for a DBS Vickers account to buy some blue chips, seems like they offer zero brokerage fees for first 5 trades for new users. Does it apply for cash upfront account too, or just cash account?

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I just opened an IBKR pro cash account. Currently pending approval status, but funded account during application set-up. Decided to cancel application but not allowed. Any advice?

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