Will the DBS Vickers Cash Upfront Account only hold your stock for 3 days? - Seedly
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Asked by Anonymous

Asked on 01 Jun 2019

Will the DBS Vickers Cash Upfront Account only hold your stock for 3 days?

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?

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Ericsson Ting
Ericsson Ting
Level 3. Wonderkid
Answered on 02 Jun 2019

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?

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Gabriel Tham
Gabriel Tham, Kenichi Tag Team Member at Tag Team
Level 8. Wizard
Updated on 07 Jun 2019

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.

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Gabriel Tham
Gabriel Tham

on 02 Jun 2019

Well if u sell before going to CDP, u get back the net amount (sold price - purchase price). If a profit, u get credited then if lose u get money deducted from account)
Question Poster

on 02 Jun 2019

Thanks gabriel