1

How To: Open A Stock Trading A/C (With 4 Brokerage Firms)

How To Open A SGX Singapore Stock Trading Brokerage Account

Tue, 28 June 2016

​If you are not going to open a brokerage account, skip this article because I don't want it to bore you to death.

If you are thinking of opening one then you might probably have thought of:

"What are the requirements to open a stock trading account?"

"I'm going down to their office and what should I bring or need?"

"Are there any bunches nearby my home or workplace?"

​"Can I open a brokerage account via online?"

​BAM! Then you have come to the right place because in this article I will show you 3 ways to open your brokerage account with OCBC, CIMB, Phillip and SCB

But before that please remember that you need 2 accounts in Singapore in order to trade stocks:

​1. A CDP account also known as Central Depository Account in which it keeps your stocks and electronically record your shares transaction. 

2. A brokerage account to provide you a platform or agent to buy and sell stocks in Singapore stocks market as without it you are not able to trade stocks.

This article is all about setting up your stock trading account.

***​

There are three ways you can open a Singapore brokerage account, the quickest is open by in-person and the second best method is through their online application (if they have). In case of error try not to apply via mailing unless you understand the form and requirement well.

#1 By Opening In-person At Their office Or Event Booth 

You can head down to their office directly and their representative will assist you with the application. This is the quickest and easiest way.

Or during investment fairs, road shows and seminars which you can see them at their booth promoting their brokerage services.

What Do You Need To Bring?

Singaporean - Original identity card

What You need to have

Bank account number - More information on below. This is for the payment of buying stocks and commission. (need 1k in the account as cdp may not approve)

CDP Account number - if you have one as they need to know in order to link to your cdp account. They will open for you if you don't have.

Singpass ID & PW -  In case they need your CPF Contribution History Statement and you can access on the spot.

OCBC Basic Securities Trading (Cash) Account

CIMB Cash Trading Account

Phillip Securities Cash Management Account

SCB Equities Trading Account

Only Philips and SCB you can open trading account in one of their branches located island wide, as for OCBC & CIMB there is only one securities office which I stated above. Take note that OCBC bank is not OCBC securities, and you can't open securities account in bank. Same goes with CIMB.

#2. By Mailing Their Downloadable Application Form

You can either Email or call them to mail you the application form. Alternatively, you may download the form on their websites.

OCBC Basic Securities Trading (Cash) Account

CIMB Cash Trading Account

Phillip Securities Cash Management Account

SCB Equities Trading Account

I do not encourage using this method especially when you need to fill up multiple forms and attaching various documents as there is a high chance of omissions and mistakes which will lead to plenty back and fore. 

#3. By Online Application Service

Only for investors who already has a CDP account as you need it to fill up for the web application form.

OCBC Basic Securities Trading (Cash) Account

CIMB Cash Trading Account

Phillip Securities Cash Management Account

SCB Equities Trading Account

***

You guys know the drill. Love it. Share it.

Thanks!

0
Shares
GiraffeValue
 

Click Here to Leave a Comment Below 1 comments
Allison - February 26, 2017

Hi,

I have a CDP account with DBS banks, means i still cannot trade till i open a brokerage account from this -OCBC Basic Securities Trading, Philip securities cash management, CIMB cash Trading and SCB Equities Trading account?

Reply

Leave a Reply: