facebookWhen investing in local stocks, should you be using platform with CDP accounts or those with custodian accounts like tiger brokers? - Seedly

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Anonymous

28 Jan 2021

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General Investing

When investing in local stocks, should you be using platform with CDP accounts or those with custodian accounts like tiger brokers?

Hi, does it matter whether when you are investing in local stock , should you be using platform with CDP accounts or those with custodian accounts like tiger brokers, thanks!

Discussion (3)

What are your thoughts?

Chris

Chris

28 Jan 2021

Owner and Writer at Tortoisemoney.com

Generally, the main concern with custodian accounts tend to be whether they are as safe as their CDP counterparts. However, nowadays, I do feel that there isn't much of a significant difference anymore in terms of security.

However, custodian brokers tend to have lower commissions (even for SG stocks) and better FX spreads (for USD denominated SGX stocks).

Do check out my comparison of some of the brokers available if you're looking for a good brokerage account.

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