Do I have to mail back the scripts when the shares are sold? Contact your brokerage and ask them for their procedure on how to convert physical scrip shares into digital scripless shares.
Once your brokerage accepts your scrip shares, it will be placed in your brokerage account which you can sell thereafter. Hi, Would like to know which brokerage are you guys using? Mind to share? I have an account with OCBC and going to open an trading account with their ocbc securities but as you said the support is important.
Why should you read this guide?
Would like to hear more thought before making final decision on which to open. My local broker has given me good support over the years and I see no reason to change at the moment. OX because they were one of the first few US brokerages with a local presence and I just stuck with them since.
Trading platform is very easy to use as well.
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Thank for sharing. I did hear many positive about them. I intend to trade US stocks but not actively.
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Anybody knows which of these online brokerage — Saxo, Standard Chartered and Option Express will be the cheapest taking into account the currency exchange rate too? I believe their exchange rates will be similar, based on the prevailing market rate. Or you can always convert currencies on your own first before funding your account. Just to let everyone know that OptionsXpress has integrated with Charles Schwab after its takeover. Fees and commissions remain the same. For a Singapore citizen that holds US equities through local broker in a nominee account, will the US estate duty be applicable?
Great question. But the tax authorities may still view that the individual is the ultimate beneficial owner and is still subject to estate tax — if they know he has passed on. To be sure, you can ask your broker or, failing that, a legal adviser familiar with U. Are Malaysians allowed to open an account with Standard Chartered Singapore as I can see it offers one of the lowest trading fees when it comes to min amount. But you may need to check if you need to be a local Singapore resident. Yes, you can either trade directly with your home brokerage firm if they offer access to the SGX or you can open a brokerage account in Singapore.
Your brokerage firm may charge you extra fees for trading in a foreign market, but there should be no extra charges for a Singapore brokerage account trading Singapore shares. Also, stating its basic features. Do you mean like a paper trading account? I am a Canadian living in Japan right now.
Do you know if I can open a bank account in those banks without being physically present in Singapore? Sorry for the confusion. You can open a Singapore bank account as a foreigner but you need to be a local resident i. However, if you want to open an offshore Singapore bank account like in your case, then the bank will consider other factors e. Just to follow up on this. You can open a Singapore trading account through Saxo Markets as they accept non-resident foreigners. But this will be through their nominee account instead of the CDP.
Hi Adam, I would like to open a brokerage account and I would like to go to the bank physically to open it.
May I know if I can open the account at any bank or is it just the selected few? Thanks for your time:. No worries!
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Hope you are doing good. Yes, you can open a Singapore brokerage and bank account as a foreigner but you need to be a local resident i. I checked with Saxo Markets and they allow non-resident foreigners to open a Singapore trading account with them. You may want to check them out. I will tomorrow apply for a CDP account. If I understood well, this should be enough to deal with the SGX. But what about others stock exchanges? Do I need an other brokerage to invest on US market?
Is it necessary, or more interesting? Interactive Brokers, Vanguard, Charles Schwab are all good options. For this reason, it makes more sense for me to invest for growth in the U. Went to a number of brokers, all who said they have regulatory restrictions barring them from opening an account for US citizens, even if hold Singapore PR status. Are there brokers who will set up an account for US citizens, or is there another way that I can dispose of the shares without a broker when the time comes to sell?
I believe this may have to do with U. Which ones have you approached?
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Some may accept U. Thanks for your article. I sincerely hope you can help me! I will be trading only with my US Bank of America account. Is it still possible for me to open a brokerage account? This means I need to open a custodial account. Or is there a way I can directly connect my US account to my custodial account? What happens when I decide to close my Maybank account in the future — will I lose my brokerage account, or can I connect another local bank account to it without losing my brokerage account?
Thank you so much for your help! Hope to hear from you! We require a bank account to open a CDP account because the bank account handles the payment and receipt of money when you trade local shares. Your CDP account is separate from your brokerage account. Once you have a CDP account, you can open a trading account with any local brokerage who will link the trading account you open with them to your personal CDP account. I am indian and trading in NSE of india I origin of india can i trading in singapore stock exchange in indices of option or future….
How can i open account from india and its. You can consider Saxo Markets , they allow foreigners to open a Singapore brokerage account with them. Kindly guide me the best way, thank you. The next step is to pick a brokerage from the list above and sign up for an account online. If you prefer, you can also head down to their office if you need help with opening an account. You can actually consider Saxo Markets — they allow foreign non-residents like yourself to open a Singapore brokerage account. Now that Charles Schwab is closing down their office in Singapore, do you have any other recommendations on brokerage account for local investors who are looking to open up an account to trade US stocks?
What is the requirement to open an account with them? Yes, both are good choices. You can also consider Saxo Markets. They also give you access to the U. Hi, Sir, I am a Malaysian residing in Malaysia. I have several Singapore shares. I may not want to sell my shares now but would like to have an account to sell it one day. Will I be charged for keeping an inactive CDS account?
Will my password be changed if it remain inactive?
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As far as I know, there are no fees for inactive CDS accounts, but there may be reactivation fees. Just to be sure i understand correctly. If dividends are 3 USD, nothing would be earned at all?