Anonymous
Which is better - purchasing HK/US stocks with local brokerage or overseas brokerage?
If we purchase overseas stock using local brokerage, will the these stock be kept in CDP?
If we decide to continue the trade using overseas online brokerage, what will happen?
Is there any overseas/local online brokerage that has no inactivity or monthly charges for overseas stocks
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For overseas stock, the stock brokerage will hold it for you in a custodian account. The SGX CDP is for SGX-listed securities and instruments such as Singapore Savings Bonds etc. Also depends on which platform you use, for example Standard Chartered Online Trading holds all stocks in custody.
If you use the online brokerage, your stock is held with the stock brokerage and you transact through that stock brokerage.
For the fees and charges, you can check the fees schedule for the stock brokerages that you are interested to use. They will be clearly listed.
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CDP only for the holding of singapore securities.
SCB had no custodian and dividend handling fees, or inactivity fee