It seems like there is a new broker in SG.

https://www.prosperus.asia/

Fees: https://www.prosperus.asia/pricing/

Funding: https://www.prosperus.asia/faq-funding/

This post has been edited by TOS: Jun 22 2021, 12:10 PM

Nice to know but seems nothing special about it?
No promotion and fees are not low.

Well, all brokers are not special.

Fees as far as I know are based on percentage like say 0.1%. If your current broker charge you a fixed commission and you invest a larger capital per trade then the percentage might be lower than 0.1%, in which case Propsperus is not recommended for you.

For my case, I have small capital, so if compared to say TSG 3.75 SGD per trade, the fees amounts to something like 0.5-0.7% per trade for me. So this seems quite attractive to me.

As for promotions. There are promotions but not exactly related to investment. https://www.prosperus.asia/promotion/experi...hile_investing/

Forget about promotions. You should focus on the credibility and reliability of the platform, not one-off sweeteners. Fees, customer service, ease of usage of platform etc. should be your prime consideration, don't let the capitalist and marketing agents fool you.

DUDE. It can trade LSE?? (Tiger and moomoo cant)

Meaning I can buy VWRA cheaply with this and avoid US estate taxes and 30% div tax?

Referral code mari!!

The no minimum fee structure seems really attractive.

Why not IBKR (TSG)?

This post has been edited by Gwynbleidd: Jun 10 2021, 09:50 PM

Prosperus grew out of CGS-CIMB and is aimed at the digitally-savvy. So likely all major CGS-CIMB-served markets are also covered by Prosperus.

As for referral code, I didn't open any account with it yet. I came across this new brokerage service while looking for research reports for OCBC and Ascendas REIT on Investingnote.

https://www.investingnote.com/posts/2266370

At least I know Prosperus has a transfer out fee of 50 SGD per counter. Something to take note of.

I am still happy with TSG for now. I don't bother about referral codes anyway. Marketing gimmicks don't work for people who study economics like me.

Indeed this no-minimum fee structure caught my attention, which is why I share here. But above some large numbers, for SG stocks, better off with Moomoo/Tiger/Pure IBKR. They charge less than 0.1%, Moomoo go as low as 0.03%, Tiger 0.04%, Pure IB 0.08% if memory serves.

TSG is dinosaur-era stuff for him.

TSG site looks like shit, I prefer companies regulated by Singapore gov.

Then after Moomoo and Tiger, this must be your new test vehicle. No "free" apple stock ya

Being able to buy VWRA under a familiar local bank regulated by Monetary Authority of Singapore sounds good enough for me.

what is the difference with CIMB CGS

https://www.cgs-cimb.com/en/cgs-cimb-securi...l-investors.jsp

CGS CIMB is more like IBKR/TSG geared towards more sophisticated users.

Prosperus is more digitally-driven and more like "Moomoo/Tiger broker/TD Ameritrade" style. They are geared towards millenia.

You can compare their product offerings respectively. Pricing are also different: https://www.itradecimb.com.sg/app/help.clie...1515778a7b200d8

So you can say CGS CIMB is a full-fledged broker while Properus is more DIY and more like a discount broker with the bare minimum to keep you running.

Just opened Prosperus account. It has no referral bonus system.

Their leng lui customer service made a whatsapp video call to check my mykad for KYC, they don't have onfido or automated systems.

Gonna transfer S$ 1000 this week and try buy some VWRA, see if its any good.

So this is prosperus account opening campaign
https://www.prosperus.asia/experience-life-terms_conditions/
1.token for trading- Deposit min SGD 1k get 28 token(for trading)

2.lifestyle experience-As a further benefit, the first 500 new clients who make an initial funding of SGD3,000 or more and who then execute at least three trades within 60 days (during the Campaign Period) after their account has been set up shall also be entitled to enjoy a variety of curated ProsperUs Experience(s) (the “Experiences”) such as lifestyle, well-being and dining experiences.
For existing CGS-CIMB ProsperUs clients, the first 200 existing clients who make a funding of SGD3,000 or more to their account during the Campaign Period and who then execute at least three trades within 60 days (during the Campaign Period) of such funding will also be entitled to the Experiences.

3.referral code-Apart from the foregoing and as an additional benefit, successful applicants who open a new ProsperUs global investment account with CGS-CIMB and who input a unique referral code into the referral code field during the account opening shall enjoy an additional one-time top up of SGD20 into their global investment account within 7 days of their account opening. A further SGD30 shall also be credited to the said account if 3 trading transactions are executed successful within 60 days (during the Campaign Period) after the account has been set up.
The unique referral codes can be obtained from certain articles in the Investing Note website (https://www.investingnote.com/) or from certain marketing material disseminated directly or on the social media/landing pages of the SNACK insurance platform by NTUC income or from certain social media channels and/or personalities who will make known these referral codes in their social media content.
The code from investing note is INVESTNPROSPER

Shit, I missed out clause 15-16. Go look for ref codes then.

The code from investing note is INVESTNPROSPER

I have bought VWRA with Prosperus.

Account opening is easy for Malaysian, no need passport.

Funding account is easy with Paynow QR, I just used OCBC PayAnyone app, scanned it, Prosperus detected deposit immediately.

They offered 2 trading interfaces - Build or Boost. Boost is more like traditional broker UI, Build is simpler. I used Build to buy VWRA, pretty easy and straightforward.

The commission for London traded instruments really goes by %, no minimum. Bought 6 VWRA, fees totaled up to USD 0.72 for USD 900 worth of securities.

I have not filled out W8BEN and added bank account just yet.

when you top-up the account, any TT / administration / whatever fee imposed?

None. Can use paynow qr some more, syok man.

Have you tried withdrawing money back to your SG bank account? Any TT charges or it is done via say FAST?

Not yet, trying to add bank account now.

BTW their bank account UI need to type swift code manually, here are the common ones in Singapore:

CIMB - CIBBSGSGXXX
Maybank - MBBESGSGXXX
DBS - DBSSSGSGXXX
OCBC - OCBCSGSGXXX
UOB - UOVBSGSGXXX

Thanks for your pioneer effort. Remember to update here when you have successfully withdrawn the money.

Submitted withdrawal request at 5PM thursday.

Received $ in bank account at 4PM friday.

Any deductions for fees etc.? You are using CIMB SG?

Can you check they TT to you or transfer via FAST?

I use OCBC Singapore. It's either GIRO or FAST, no TT to local banks lah.

It likely is FAST, coz I didnt get the money around noon, but I saw the money in my bank acc as soon as I got their notification e-mail.

This post has been edited by honsiong: Jun 18 2021, 09:01 PM

I see the pricing for buying US stock, it cost $5 per transaction. Quite high the price

It’s good for London stocks like VWRA.

Does prosperus allow watermarked/cross out documents to be submitted for account opening or must be clean copies?

Oh I dont know, you can watermark probably, they will make a video call to you over whatsapp to see ur face anyway.

BTW TS can you make the thread title n description more descriptive? I think the unique selling point of Prosperus over Tiger, Moomoo is able to trade Irish ETFs on London stock exchange, so it can go head to head with Interactive Brokers and TradeStation Global, but with local MAS licence.

oh no, Prosperous unable to withdraw to Malaysian banks?

I am happy to change but can you suggest a more descriptive title?

My thought is: "Trade UCITS with local MAS license" but sounds a bit funny to me.

I think can, but who in the right mind would do it over TT and pay expensive fees?

Title can be like "CGS/CIMB Prosperus - new broker for US UK stocks"
Desc "Flat 0.1% for UK and Irish ETFs like Vanguard"

What do you think?

As you wish. Desc is a bit long, so I changed to "UCITS" instead.

Wow the video call part is something new hahaha. Thanks for the heads-up.

This post has been edited by thecurious: Jun 22 2021, 01:22 PM

Thanks for sharing. it's a good alternative to tsg

Anybody having problem receiving the otp as am not getting it after successfully registering.

just came across this thread. Interesting. Their commission fee is really competitive. I am wondering is there any minimum charge for buying stocks other than LSE?

From the pricing page, the answer is no.

https://www.prosperus.asia/pricing/

hmm... further digging
https://sg.finance.yahoo.com/news/cgs-cimb-...-064512084.html

Here says min brokerage for sgx is sgd7, us 5usd, and hkex hkd 90

This post has been edited by heata: Jun 24 2021, 12:26 PM

Only some exchanges have minimum fees. Forex is free too. Hong Kong Exchange does not seem to have a minimum fee according to the website. That article could be accurate at that point of time only.

This post has been edited by Gwynbleidd: Jun 24 2021, 05:07 PM

That was old data.

You can see a snapshot of the old pricing here: https://web.archive.org/web/20210330155452/...s.asia/pricing/

Back then (30th of March 2021), there were minimum fees and commission rates were higher.

This post has been edited by TOS: Jun 24 2021, 02:19 PM

oh ok. Thank you for the info! then its really cheap

sorry, for the pricing->
1. Equities - flat USD5
2. Stock and ETF CFDs - USD 0.02/Share
which pricing is applicable if i were to purchase AAPL from us stock market ?

Should be USD 5

ok thanks, any idea what is the usd 0.02/share for ?

Stocks aso wil b charged cfd?

According the the page, Stocks is USD 5.
CFD is USD 0.02/share.

ah ... thanks

Yes the other members answered correctly. US is flat 5 USD. No minimum. The 0.02/share means for CFDs (i.e. stocks and/or ETF CFDs, not the stocks or ETFs themselves).

hope they launch some sort of freebies soon (that can match with tiger/moomoo), the option to invest in LSE really tempting !

This post has been edited by Mr.Weezy: Jun 25 2021, 05:41 PM

Usd 5 per trade ? Mcm ok but currency wise myr >sgd> usd ke?

Yes flat 5 USD (there might be other exchange fees too, although none is stated in the pricing page of FAQ)

So far yes that is the method, some members suggest using IBKR or other brokers to trade US equities. There are better alternatives elsewhere.

https://forum.lowyat.net/index.php?showtopi...ost&p=101376884

Thanks bro..using etoro now but if amount bigger wana consider other platform. IB aso troublesome if in msia

Yeah. That's why I dont mind slightly higher commission from prosperus, I get to use a local known bank CIMB, Singapore licensed, easy for Singapore bank account holder.

Can you explain the higher commission part? I don't seem to know any better pricing structure especially for those with small amounts of money to invest.

This post has been edited by Gwynbleidd: Jun 28 2021, 11:29 AM

prosperus usd5 flat , tsg ibkr usd1.5


This post has been edited by no6: Jun 29 2021, 02:39 PM

He is referring to the US equities trading cost. Flat 5 USD is rather expensive for investors with small capital compared to other brokers like pure IBKR.

The problem with Prosperus is it has low fees for several exchanges like LSE or SGX only. Considering fees, you might want to use a different broker to buy US stocks.

TSG has same issue (for my case), cheap for US but 3.75 SGD per trade for SGX is also expensive for me, at least compared to Moomoo/Tiger/Prosperus.

Fragmentation is a problem here. Unless the cost savings across various brokers exceed the hassle and costs of spreading your investment across them, otherwise stick to one.

This post has been edited by TOS: Jun 29 2021, 02:45 PM

Prosperus for SGX & LSE
Tsg for US

My major issue with Prosperus for now is the terrible search bar. But that's not the worst part, I found many instruments that are not available! For example VWRA's GBP/EUR version, VWRP/VWCE are not available. So goodbye Prosperus, maybe, for now. Even IBKR is not perfect, it doesn't have all the listings of one product but at least one is available.

This post has been edited by Gwynbleidd: Jun 30 2021, 06:55 PM

Btw, TSG/IBKR cannot buy LSE stock meh? Why need to use this?

Maybe you can ask honsiong, our front-running beta tester. Who knows if you missed some buttons?

Sure, can buy. But fees and minimum commissions are your main hurdles.

(With prosperus, honsiong proved that no minimum fees are charged for his UCITS purchase on LSE.) Commission is lower than IBKR/TSG.

According to seedly Q&A, there will be minimum GBP 9 commission to be charged after 2021.

Yeah, some instruments memang tak da. I will just do VWRA.

9 GBP is rather high. Mind sharing the link to the source?

aiks min 9 is quite a lot.... vs 1.5

May i know how many currency do you have in your account upon account activation?
Do you have to manually convert from sgd to usd prior to trading vwra ?

No need, it's converted when you purchase, with 0.5% spread.

But when you sell, I guess because they only provide multicurrency account to whales, meaning we will kena 0.5% spread as soon as we sell.

meaning you only have sgd in your portfolio ?
my current base currency is in usd.

This post has been edited by no6: Jun 30 2021, 01:45 PM

Went through the Q&A. It seems that there will be no minimum commission for all exchanges until end of 2021. Hmm.

This post has been edited by Gwynbleidd: Jun 30 2021, 06:50 PM

Hope they will maintain will no min

ProsperUs does seem really promising in a lot of department, looking forward to cover this broker very soon!

Very bad platform

How come?

mind to share any problem ?

I tried searching some stocks from their paltform. Not much stocks available. Esp those US meme stocks. The platform seems very simple and not so informative. I did not sign up account not sure if sign up any difference anot

This post has been edited by Msxxyy: Jul 6 2021, 08:13 PM

Why not you post an example screenshot, then compare yours with honsiong? honsiong can help confirm since he already has an account.

Maybe that settles your doubt.

My first take on ProsperUs for newcomers!

On a side note, I'm working on something with ProsperUs, hopefully can bring some referral / special promotions for Malaysians!

Check the spoiler below for my shameless plug and self-promo video on ProsperUs:



Hope this helps!

how do I open account with CGS CIMB ?
for malaysia Stocks

Wonder why these new brokers don't want to open in MY where they'll have a lot less competition and more business almost guaranteed as long as the fee are low and have good CS

Malaysian govt not welcoming to all these brokerage.

Prosperus is CGS CIMB Singapore product. Your question is about CGS CIMB Malaysia, can ask here: https://forum.lowyat.net/index.php?showtopic=849298&hl=

It is called iTrade in Malaysia.

I guess licensing is the issue. As long as SC refuses to grant permission, the entry barrier is there for banks and existing players to monopolize the market.

Licensing, coupled with low liquidity and low demand because most whales will have accounts abroad already

Most foreign institutions are cutting back or worse closing down and selling out like Citibank and HSBC which gives you a good picture how stagnant Malaysia is

Maybank will be the 1st to oppose us the govt allows open ended banking to appear in Malaysia

ASNB shareholders beware, especially ASB.

If it happens you will see many reverse dawn Guthrie raid happens in Malaysia