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:
Read More: 6 Things To Know Before Opening A Stock Brokerage Account
Get The Latest Bite-sized Investment News, Ideas & Insights
Join FSMOne.com's Telegram channel ( FSMOne SG - Research Highlights ) to stay updated on the latest investment and personal finance news, idea and insights. Whether you're at home or on-the-go, this is a quick and convenient way to stay in-the-know.