Online Brokerages

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Online Brokerages
  • Asked by Jeremy Tan

    HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    Level 8. Wizard
    Answered 2d ago
    Why only banks ? Take a look at this seedly writeup to find out more before you decide, there are more choices. https://blog.seedly.sg/the-ultimate-cheatsheet-cheapest-stock-brokerage-in-singapore/ Review of all the brokerage account by existing customer: https://seedly.sg/reviews/online-brokerages
  • Asked by Anonymous

    Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    Level 8. Wizard
    Answered 2w ago
    Here is the difference between the two! Sell Order Basically a Sell order is a simple one where you simply sell stocks which you currently own in your CDP account or custodian account. Sell Contra Order Contra is the 3 days period where you can owe your broker for the stocks you brought. After the 3 days, if you have not sold your stocks, you must pay your broker. Contra trading is to buy and sell the stocks within the 3 days and make money from the differences. Essentially, you are trading without putting your own money. However, if you loss, you have to pay the differences. Sell contra could means that you've sold stocks that you don't own and you've 3 days to buy back the stocks to cover your position. In Singapore, it's illegal to naked short, sell first and buy back later. So if you've not bought back the stocks today, your broker should call you tomorrow to ask you to buy back. (naked shorting) After 3 days, if you didn't buy back, the fine is $1,000 per day. So you better close this asap. PS: You have to confirm with your broker regarding your position before doing anything, as the Sell Contra could be due to DBS Vickers didn't have the record of your stocks in your CDP account.
  • Asked by Anonymous

    Leonard Tan
    Leonard Tan
    Top Contributor

    Top Contributor (Mar)

    Level 5. Genius
    Answered 2w ago
    Hey Anon! Allow me to ease your confusion! If you search online, the definition of an accredited is pretty vague across countries. Thankfully in SG's context we know MAS calls the shots so we can refer to their definition. Listed are the criterion for being an accredited investor i) Individuals with a personal net asset in excess of $2 million; ii) Individuals with an income of not less than $300,000 in the past 12 months; iii) Corporations with net assets exceeding $10 million in value, in their most recent balance sheet; iv) Trustees of trusts that the MAS approves; or v) Persons that the MAS approves If you are registering a account on behalf of a company/bank/any kind of business dealings, you might want to read further into the rules because you most likely will be classified as a Accredited Investor. TLDR; Most of us are definitely not considered Accredited Investors. So unless you're earning quite a huge salary, you can go ahead and register your personal acc as a regular retail investor.
  • Asked by Anonymous

    Richard Woon Tian Jun
    Richard Woon Tian Jun
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
    Answered 2w ago
    The treasuries aren't sold by the brokerage per se. They are being traded on the bond exchange, which are facilitated by the brokerages that you use. So for example, let's say you are using SAXO capital markets. you see on the bonds page that they are offering canada bond 10 year. These gov bonds are offered by the government themselves, so the Canadian government issues these bonds. These bonds are sold to whoever buys them, and then they become a creditor, or a bond holder, debtor etc. Now, this doesn't mean that the brokerage themselves are selling the 10 year canada bond, someone else is selling it on the exchange. So essentially, they are holding onto this security (the classification given to equities, bonds...) in their account, just like a stock, but now they wanna sell it for whatever reason that they have. So when you buy this bond on the brokerage, they help you to connect to this man/woman, and take your money, pay him/her, take a cut, give you the bond, and viola there you have it, your very own canadian 10 year bond. And this happens for all types of securities. Just think of it as a huge market, full of people who want to buy something and sell something. It's quite tedious to find within this crowd who exactly wants to buy/sell something you want/have, so the brokerage is the middleman that does everything for you, while taking a cut. Hope this helps!
  • Asked by Anonymous

    Jonathan Chia Guangrong
    Jonathan Chia Guangrong, Fund Manager at JCG Fund
    Level 6. Master
    Answered 4w ago
    If you want to trade in US markets, you will require a USD denominated brokerage account. If you use a SGD denominated one, likely the broker will convert to USD on your behalf at a rate that is not in your control. May be more expensive in this sense. Consider using TD Ameritrade or interactive brokers for trading on US listed instruments
  • Asked by Teoh Zetong

    Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
    Answered 4w ago
    Buy CSPX or VUSD from the london stock exchange as they will reduce the withholding tax from 30% to 15%. You can use Standard Chartered or other brokers that provide london stock exchange.
  • Asked by Anonymous

    Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    Level 8. Wizard
    Answered 4w ago
    Hey! I actually had this problem sometime back as well. Cash upfront accounts are designed for BUY trades only. And this costs $10 per trade. To sell your free shares in CDP, you will need to use your Cash account to execute the order! You can actually contact DBS vickers at 63272288 if you need more help.
  • Asked by Anonymous

    Jonathan Chia Guangrong
    Jonathan Chia Guangrong, Fund Manager at JCG Fund
    Level 6. Master
    Answered 4w ago
    For vanguard, you'll need a broker that has access to the US market. Cheap ones will include Td Ameritrade or interactive brokers. For iwda, can try interactive brokers or Stan chart online brokerage. Hope this helps
  • Asked by Anonymous

    Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
    Answered 4w ago
    Saxo is pretty good for US market but they charge 0.12% custody fees. SCB can invest in more markets if you want to invest in more foreign stocks and not just US stocks.
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