Are you looking to trade stocks for the first time? Before you can start trading, you have to first open a Direct Securities Account with the Central Depository (CDP).
The CDP is own by the Singapore Exchange and acts like a central storage place where all local shares bought are ‘kept’. To open a CDP account, you must be at least 18 years old and not be an un-discharged bankrupt.
You can open the CDP account by getting a brokerage firm to assist you or applying directly online.
To learn more about the Starters’ Pack, Fund Transfers and commission fees before you actually start trading, watch the video below:
DollarsAndSense.sg is a website that aims to provide interesting, bite-sized financial articles which are relevant to the average Singaporean. Subscribe to our free e-newsletter to receive exclusive content not available on our website. Follow us as well on Instagram @DNSsingapore to get your daily dose of finance knowledge through photos.