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Buy Singapore Stock. Singapore Stock Broker?
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ryan18
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 Jun 8 2015, 09:39 PM
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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
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ryan18
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Jun 9 2015, 11:10 PM
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QUOTE(elea88 @ Jun 9 2015, 10:34 AM) 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! 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 |
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ryan18
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Jun 24 2015, 10:08 PM
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QUOTE(elea88 @ Jun 10 2015, 09:23 AM) 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. 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 |
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ryan18
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Jun 25 2015, 01:46 PM
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QUOTE(elea88 @ Jun 25 2015, 11:59 AM) when did u open this ac? recently? YES 2 weeks ago |
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ryan18
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Jun 25 2015, 09:00 PM
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QUOTE(moonhowler @ Jun 25 2015, 02:32 PM) 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 |
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