Buying the first stock in Singapore is relative easy. To start trading in Singapore, We need a CDP A/c (Central Depository ) and a Brokerage Firm ( Securities Members ).
Thｅ ＣＤＰ ａｃｃｏｕｎｔ ｋｅｅｐ ｔｒａｃｋｓ ｏｆ ｏｕｒ ｓｔｏｃｋ ｐｕｒｃｈａｓｅ ａｎｄ ｓａｌｅｓ ｗｈｅｒｅ ａｓ ａ Ｂｒｏｋｅｒａｇｅ Ｆｉｒｍ ｐｒｏｖｉｄｅｓ ｕｓ ａ ｐｌａｔｆｏｒｍ ｆｏｒ ｕｓ ｔｏ ｅｎｔｅｒ ａｎｄ ｅｘｉｔ ｔｈｅ ｍａｒｋｅｔ．
For this list taken for SGX , a few common what that we know are the local banks like UOB Kay Hian ,DBS Vickers , OCBC Securities to name a few where you can walk into the respective bank and request for an opening of an a/c. ＣＤＰ ａｃｃｏｕｎｔ ｏｐｅｎｉｎｇ ｆｏｒｍｓ ａｒｅ ｎｏｒｍａｌｌｙ ｄｏｎｅ ｔｏｇｅｔｈｅｒ ｉｆ ｙｏｕ ｈａｖｅ ｎｏｔ ｈａｖｅ ａｎ ｅｘｉｓｉｔｉｎｇ ＣＤＰ ａｃ．
Ａｃｃｏｕｎｔ ｏｐｅｎｉｎｇ ｖａｒｉｅｓ ｆｒｏｍ ａ ｗｅｅｋ ｔｏ ｔｗｏ ａｎｄ ＣＰＦ statement ｏｒ ａｎｎｕａｌ ｉｎｃｏｍｅ ｔａｘ ｓｔａｔｅｍｅｎｔｓ ａｒｅ required to have a 'margin' account.
Margin ac is similar to a credit card. ( Just that you have to clear your bill within a week) How big your credit limit is affect the amount of stock you can own and purchase at 1 time.
The margin limit normally is peg to your annual income of 1 to 3time. where a whole lots of other factor. ( Referred by a friend... have a 'fat' saving ac in the bank or such ).
Brokerage firms are a good source of getting additional local market news on top of whats mention in the papers and the news. ( through the website or though a broker that is assigned to you when your ac is open)
All in all, to get a feel of investing. trying out buy/sell virtual trade before coming in with the real money. Brokerage firms are a good start as its basically free and you can familiarize the tools , platform and system.
With a CDP ac and a brokerage ac open, what to trade when to trade comes after.... everything starts somewhere and to invest in Singapore market.. opening of the above mention a/c is the first step.
