Finally! You hit your first ever $3000 in your life time in your bank account! That's your first step into the world of Investment! However, you can not trade without first having a CDP account.
A CDP account is a direct securities account to customise your shares in. Each time you transact in securities your movement will be recorded and when you trade, you will receive a statement at the end of that month you transacted in. You will also get a year-end statement reflecting your share balance. Tracking your portfolio has also been made easier with CDP Phone and CDP Internet Access, and they offer more than just your account update.
Ok to make things simple, this CDP account is like your bank account with the MAS. You will receive a seven digit ID and twelve digit password that allows you to buy and sell shares using the ATM, Internet or over the SGX counters.
To open a CDP account, just go to any of the brokerage house. Below (Be mindful that different brokers charges different commissions, so be sure to find out which policy suits you the best and remember there are some market makers that are not regulated and these are usually scam house, so do becareful. Rest assure those below are all regulated by MAS but they charge higher brokerage fees.)
Kim Eng
Lim & Tan
UOB KayHian
IOCBC
DBS Vickers
Phllips POEMS
GK GOH
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