Which brokerage account allows you to use CPFIS to invest in ETFs? And how to do it? - Seedly

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Asked by Fred Ruan

Asked 2w ago

Which brokerage account allows you to use CPFIS to invest in ETFs? And how to do it?

Some brokers (i.e. FSM) only allow cash account for purchase of ETF via its platform. Which brokerage house would allow you to purchase ETF using your CPF monies, and charges competitive sales charge?

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Hi Fred, POEMS will allow purchase of ETFs/UT/Shares with CPF OA monies. As we are a CPF Investment Administator, your ongoing costs can be lower than going through the bank directly (e.g., there are no sales charges on UTs bought on POEMS)

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Any of the traditional local brokers will allow you to use your CPF funds (provided you meet the minimum threshold for investment) to buy into the Etfs. You just need to link up your CPFIS account with the broker.

I used my account at Lim and Tan previously to buy some shares previously on sgx. I believe brokers like dbs vickers and Maybank ke will allow the same.

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Pat
Pat
Level 4. Prodigy
Updated 1w ago

Hi there! The major banks (DBS, OCBC, UOB) allow you to use CPFIS (OA) to invest in ETFs.

First, apply for a CPFIS scheme account on your online banking site and link it up with your brokerage account. When buying ETFs on your brokerage platform, simply pick the option of using CPF to pay instead of cash.

Not sure which ETF you are looking at, but under CPFIS there are only 4 approved ones!

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Fred Ruan
Fred Ruan

1w ago

Thanks Pat. Yes I understand all 3 local banks allow me to use CPFIS to invest in ETF. However, the question I'm asking is, after I apply through one of the banks, which "brokerage platform" actually allows me to buy ETF using CPF instead of cash? I've asked Fund Supermart (FSM) and they informed me that for ETF, they only accept cash (and not CPFIS). Correct me if I misunderstand any step here. Thanks.
Pat
Pat

1w ago

Ah, the easiest is to link it up to the bank's own brokerage platforms e.g. dbs vickers but if don't want to use the bank's, here are the list of CPF Investment Administrators who can link with your CPFIS account: https://www.cpf.gov.sg/Assets/members/Documents/LISTOFINVESTMENTADMINISTRATORSANDCRITERIAFORINCLUSIONUNDERCPFIS.pdf. IMO, the other good option is POEMS.