Asked by Anonymous
Asked on 23 Oct 2018
If you intend to invest in Singapore stocks, you will need a CDP account. A CDP account is needed to store your shares. If a brokerage lets you invest and does not require you to open a CDP account, it probably means that the brokerage is holding your shares for you (ie: they are the custodian of your shares). Not that is bad, but some people do not like someone else holding their shares for them.
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CDP have to be linked to both.
Trading account to transfer your shares when you purchase/sell SGX stocks.
Savings/Current account to pay you dividend or your "cash-out" when you sell shares.