Should I create a CDP account if I already have a Stanchart custodian account? Is there any charges or minimum trades a month for the CDP to keep it? Also, when should I sell off an ETF? - Seedly
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Asked on 08 Nov 2018

Should I create a CDP account if I already have a Stanchart custodian account? Is there any charges or minimum trades a month for the CDP to keep it? Also, when should I sell off an ETF?

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Rais M
Rais M, Accountant at SME
Level 7. Grand Master
Answered on 09 Mar 2020

Yes. You should create a CDP account. There is no fees or minimum trade requirement at all.

As for sell off ETF, as I do not see any context on this question, the general advice would be to sell when the current share price is higher than your purchase price.

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MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020

There is no harm in creating a cdp account. However there are some slight difference in keep your shares with cdp vs custodian account. So pls do your own due dilligence.

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Yong Kah Hwee
Yong Kah Hwee
Level 8. Wizard
Answered on 11 Nov 2018

I think there is no harm in creating a CDP account. You lose nothing, except for a bit of time which is used for application process. No charges nor minimum trades!

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Charmaine Lim Xiaomei
Charmaine Lim Xiaomei
Level 5. Genius
Answered on 10 Nov 2018

I think it boils down to the type of investment you are looking at. You can refer to this article here that lists the pros and cons of CDP vs Custodian: https://blog.seedly.sg/cdp-vs-custodian-account/

Moreover, there is no requirement for min trades with CDP and you can leave your account untouched with no charges! Therefore, I think you should open an account even if you have no use for it now because it will take approx 2-3 weeks for your application to be approved!

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Yixiong Chang
Yixiong Chang
Level 7. Grand Master
Answered on 08 Nov 2018

Yes u should just create a CDP account. There are no charges no maintain. You will need it in future, eg if u want to apply for public ipo or bonds, like the just past temasek bond offering or any other ipo thru ibank/atm.

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Lim Tian Shang
Lim Tian Shang
Level 4. Prodigy
Answered on 08 Nov 2018

Is good to open a CDP account. It is completely free and there is no maintenance charges.

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