How to open a trading account to trade Stock in Singapore.
1)Opening an stock trading account step by step guide
a) You have to go to CDP at SGX center, shenton way to open a CDP account if you need it urgently if not proceed to b as first step.
It take less than a day(can be an hour time) to open an account with CDP.
b) Then go to your choosen stockbroking firms to open an account for stock trading.
(I would suggest you open another account with a less popular brokerage like DMG or AMFraser if you are choosing poems as it has a huge client base and the server failed quite a few times before. )
The following document you needed to bring along.
* Identification card (for citizens and permanent residents)
* Passports (for non-Singaporeans) & Malaysian IC for Malaysians
* Work and re-entry permits (for foreigners working in Singapore)
* Bank account number
* CPF investment account number (if applicable)
* CDP account number (if applicable)
If you use step b directly, you would have to typically wait one to two weeks to trade. Your stockbroker will send you the ID and pin subsequently.
Go to the stock broking firm website to check on their commission charges but it is more or less the same across Singapore. Do take note that the minimum brokerage commission for a trade is $25.
To find out more information, go to http://www.cdp.com.sg/main/index.shtml
