DBS Vickers Securities
Asked on 01 Jun 2019
For DBS Cash Upfront brokerage users: is it true when making a trade with the DBS Vickers Cash Upfront account, it will only hold your stock for 3 days before transferring to the CDP account?
Hi yes,dbs cash upfront is custodian account hence the cheaper fees compare to dbs cash account. it is unlikely to sell the stock in 3 day unlless you are trading,in which case may i suggest that you look into fsmone or standard charter brokerage?
This applies to all brokerage. The rule is T+2 settlement.
When you buy shares, the shares will be settled on T+2 where T is the day your order was filled. Then the shares will be deposited to CDP.