If you need a CDP account to trade and hold SGx’s stocks in SG Market. then what do you call an accounted created with POEMS2.0, do I still hold the stocks at the end of the day after buying it? - Seedly
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PhillipCapital (POEMS)

JingYing Tan

Asked on 27 Apr 2019

If you need a CDP account to trade and hold SGx’s stocks in SG Market. then what do you call an accounted created with POEMS2.0, do I still hold the stocks at the end of the day after buying it?

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Poems has several type of account

If they did not ask u to open cdp or link cdp then it should be a custodian account.

Please kindly check with them.

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Ang Yee Gary
Ang Yee Gary

27 Apr 2019

Https://www.poems.com.sg/account-types/cash-prepaid-account/introduction/ Yes it is a custodian account and you must both buy and sell thru them. Can you kindly up vote my reply
JingYing Tan
JingYing Tan

27 Apr 2019

Thank you! :-) np, that’s the least i can do
Thank You!
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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered on 08 Mar 2020

Cheapest one is 'CC prepaid' (and on longterm view the fees are continously shrinking),

very good thing

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MT2020
MT2020
Level 7. Grand Master
Answered on 06 Mar 2020

You have to check carefully, some of the companies will store your shares in custodian account while some will store it in cdp account. there are difference between both of them, it depends on your preferences. if it is in cdp, it is under your name, but if it is in custodian, it is under the name of the instituition.

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Rais M
Rais M
Level 7. Grand Master
Answered on 27 Feb 2020

For Singapore shares, we can own them 2 ways.

1) CDP account. This can be purchased through any Singapore brokerage accounts. Once purchased or sold, instructions will be channeled to CDP to add/deduct your shares. This is actually a safety mechanism to protect the stocks that we own. In case you are not aware, we can even buy from one bokerage, and sell from another bokerage as long as they are linked to the same CDP account.

2) Custodian account. You "own" the shares of the company but does not have a typical shareholder rights. You still can receive dividends and capital gains when you sell it. Buying & selling of the shares must go through the same bokerage account. The fees are generally cheaper for custodian accounts.

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Geraldo L.
Geraldo L.
Level 7. Grand Master
Updated on 27 Feb 2020

For shares that are not parked under your CDP, they are normally held under custodian account / sub-account. Do take note of the difference in fee structure for using brokers that link to your CDP and those utilizing sub-accounts.​​​

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Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered on 03 Dec 2019

Custodian account, you have no voting rights though, only rights to dividends

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