1. May anyone share on the best way to buy Singaporean stocks?
2. What brokers to use, and best brokerage fee?
3. Is it recommended to use local brokers with foreign trading feature, or go Singapore open account?

If anyone has any knowledge, appreciate much if can share and discuss here. thanks

I also want to know the answer for question no.2

as for no.3, IMO open at singapore itself of course is better lesser transaction fees.
because local foreign trading facilities is under their nominees account with that even you collecting dividend also apply some charges on you.
however, singapore doesn't simply let one to walk in and knock the door say i want to open an account.

the subject is everywhere in a hundred threads. try searching the thread topics.

incl this:
https://forum.lowyat.net/topic/3595816

if u already have local bursa account, talk to them - they can advise you.

brokerage fees... for sgx, i remember reading in another thread, cheapest will be with local sg acc, sg bank, not much diff between the inv banks there.

if buying sgx from m'sia, i doubt there is anything "cheap". mostly 0.40-0.42%+ gst.

1. For a starter, it will be easier to use local platform to trade due to logistic to open account, although the transaction cost is more expensive to trade SGX in malaysia platform (brokerage MBB 0.4%, CIMB 0.42%, plus some bank charges)
2. When you already have the local platform, and if you plan to trade on SGX on a larger scale, then ask your malaysian broker to open a Sg platform for you. The transaction cost is 0.18% (for 1 to 1 cash trade) up to 0.275%-0.28% (for T+5)
3. If you are big traders, of course go for Sg broker. If you are a small timer, the difference in brokerage is not much. You can estimate the difference in brokerage cost with the above mentioned brokerage rate

https://www.sc.com/sg/ways-to-bank/online-trading.html

am trying to attempt this:open a sg brokerage account to cut on the dividend fees.call me cheapo or whatever LOL!
lots of paperwork and bureaucracy or rules involved.
if you cant get a local sg bank account, opening a direct CDP is not possible as DCS of dividend(direct crediting is mandatory):Citibank,DBS,UOB,OCBC,SCB, HSBC

so the next option is custodian CDP account but a lot of fees is involved.most brokerage in singapore charge for dividend and also custodian fee per month/quarter.Maybank KE seems to offer the lowest fees as they only charge for dividend:$2 for dividend less than $100


will update if i successfully get it done haha

well if you are into unit trust u can buy from fundsupermart Singapore. no need to be there can do online...I just got to know how to do it.

hv u checked DBS bank? I open ac with DBS and broker with DBS VICKERS all done at DBS HQ. But that was in 2013.
Brokerage buy is SGD18 and sell is SGD 25.
all div will go into DBS AC. and all monitored and done ONLINE!

Thanks everyone for their sharing. I have checked, if buy Singapore share via HLeBroking, the rate is
0.371% (broker) + 0.1 (Malaysian side stamping) + 0.0424 (SGX fee + clearing). Total cost 0.5134% per transaction.

If want to make Singapore account, it is possible. I asked iOCBC Singapore, this is what their reply.

We thank you for your interest in opening an Individual Trading Account with us!
Let us guide you through the process.

Step 1: Apply for the following accounts

1. OCBC Securities Individual trading account
2. Central Depository (CDP) account: required to custodise the securities traded on the Singapore Exchange Limited (SGX)
· For CDP application, Direct Crediting Service (DCS) is mandatory for direct payment of Singapore shares related corporate action into your bank account
· Local Singapore SGD Bank account is required for DCS application.

Both accounts can be opened through OCBC Securities.

Step 2A: Required Forms and Documents

Please click on the links to obtain the required forms.
The forms are also available at our office.

1. Individual Trading Account Form
· To open an individual trading account
2. SGX - Application of Securities Account (Individual/Joint)
· To open a CDP Account
3. SGX - CDP Account Linkage / Revocation Form - for Linkage of Trading Account to CDP Securities Account
4. A copy of the applicant’s identification document
· Singapore NRIC OR
· Passport for foreigners (must have a validity period of more than 6 months)
5. Declaration Form for Goods and Services Tax Form
6. If applicant is a non US tax resident
· Form W8 Ben is required
7. If applicant is a US tax resident
· Form W9 is required
8. Any one of the Original (not dated more than 3 months) supporting documents as Proof of Residential Address:
· Phone bill
· Utility bill
· Bank statement
Please note that any of the aforementioned statements / bills should reflect your name and residential address.
If your mailing address is different from your residential address, please provide a supporting document to reflect this address.

For items 1 and 3, please click http://portal.iocbc.com/assets/pdf/ospl/In...cation_Form.pdf
For items 2, 6 and 7, please click http://portal.iocbc.com/assets/pdf/ospl/CDP_Application.pdf
For item 5, please click http://portal.iocbc.com/assets/pdf/ospl/GST_Declaration.pdf
Step 2B: Optional Forms

Optional forms are applicable if you are interested in trading in the foreign markets:

1. Declaration form for Malaysian Residency Status

· For trading in Malaysia shares

· http://portal.iocbc.com/assets/pdf/ospl/de...myresidency.pdf

2. Declaration form for Australian Residency Status

· For trading in Australian shares

· http://portal.iocbc.com/assets/pdf/ospl/Au...23%20Jun%202010

3. Risk Warning Statement (RWS)

· For trading in any Overseas-Listed Investment products

· http://portal.iocbc.com/assets/pdf/ospl/RWS_Individual.pdf

Step 3: Certification/ verification

Below is the list of forms and document that needs to be witnessed and certified:

· Individual Trading Account Application form

· CDP account opening form

· Copy of Identification document (NRIC / Passport)

Your signature on aforementioned items is required to be witnessed and certified by any of the following authorised officers:

a. OCBC Securities Customer Service

b. OCBC Bank Singapore Staff

c. Notary public

d. Justice of peace

e. Singapore embassy staff member

For officers ©, (d) and (e), please ensure that their name, contact details and website information are stated beside their signature and stamp.

Step 4: Completion

If you are in Singapore, please visit our office with your identification document and supporting documents for the account opening process.
Alternatively, please mail the completed forms and certified true copy documents to our office address.

Our office address is:
OCBC Securities Pte Ltd
18 Church Street
#01-00 OCBC Centre South
Singapore 049479
Customer Service Department

Our operating hours is from Mondays to Fridays (excluding public holidays), 830am to 530pm.


Additional information
For foreigners, an initial minimum deposit of S$2000 is required before commencement of trading.

There will be custody fees charged for all foreign shares held in your trading account.

Foreign Custodian Fees S$2.00 per counter (per month)
Fee Exemption If clients make at least two (2) transactions per month for that particular month, or
If clients make at least six (6) transactions per quarter for the entire quarter

If the foreign security is being suspended from trading at the point when our Company is computing the fees

Mode of Billing Invoiced quarterly in arrears subject to a maximum of S$200 per quarter
Mode of Payment Client with GIRO facilities with OCBC Securities, the fees will be debited from client’s OCBC Bank account anytime during the first week of new quarter.
Client with sales proceeds or contra gain or dividend payable, the fees will be auto-offset once its due.

Alternatively, you may effect payment to us via Cheque or EPS.

I did check a few:CIMB, then found out need to open CDP sub account which CIMB charges a lot of money(for dividend + custody fee) more than what I currently pay to them for my dividend(CIMB IB Malaysia). OCBC is also another option but they need minimum deposit 2,000 which im unable to cough out at the moment.
so hopefully i can get my local SG bank account settled, otherwise i might need to find workaround(joint application with my relative,etc etc)

DBS allows account opening but DBS bank account got minimum (updated:SGD$1000 if im not mistaken) otherwise will be charged the monthly fee

This post has been edited by ryan18: Jun 11 2015, 01:54 PM

0.371% is good, lowest i know of for local ib's.

Pleas find attached , for sharing.

What platform are u using, Local or Singapore broker?


Attached File(s)
 FT15New.pdf ( 14.02k ) Number of downloads: 84

5K BAL every month. so, u just transfer between VICKERS back to DBS if not use.
any way SGD 2 is very minimal. about RM5 plus . versus the cheaper brokerage rate.

my own CIMB malaysia ac is charging me RM10.00 a month.....

The main concern in opening bk ac in Sg is the TRANSFER OF MONEY.

from M'sia to Sg.

May I know what kind of concern? Any difference if transfer to DBS bank account compared to OCBC bank account in Singapore?

thanks, good to know.
i use cimb, 0.42% for online sgx.

Apparently DBS won't give you normal savings acc.when I open I got a multiplier account $5/month if balance below $3000.the good thing is if you have some foreign currency in cash you can deposit them into this account and keep it as it is eg AUD balance.and it also earns some interest 0.75% for AUD

when did u open this ac? recently?

YES 2 weeks ago

thanks for your sharing. did u went through the process u explain earlier? do u need to go to singapore?

i just do the shortcut way, request trading foreign share from local broker (HLeBroking). It allows for SGD settlement, meaning i can maintain the money in SGD if i sell a certain stock

Yes I open it in Singapore since I was on holiday there.Currently I'm using a local broker too but the dividend handling charge is way too much and reducing my dividends received