Asked on 12 Aug 2019
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?
Top Contributor (Sep)
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)
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.
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.
13 Aug 2019
14 Aug 2019