SingSrong Account Type

　　SingSrong offers various types of brokerage accounts to cater to different investment needs. The primary account types include:

• CDP-Linked Account:
• This account links directly to your Central Depository (CDP) account, allowing you to hold your securities in your name.
• Advantages:
• Direct ownership of shares.
• Shareholder benefits such as voting rights and attending annual general meetings.
• Disadvantages:
• Typically comes with higher brokerage fees.
• Custodian Account:
• In this account type, your securities are held by the brokerage on your behalf.
• Advantages:
• Lower fees compared to CDP-linked accounts.
• Flexibility for short-term trading.
• Disadvantages:
• Limited shareholder benefits as the brokerage holds the shares in their name.

　　

SingSrong Broker Account Opening Process

　　Opening a brokerage account with SingSrong is a straightforward process that involves several steps:

• Check Eligibility:
• You must be at least 18 years old.
• Have a bank account with one of the accepted banks in Singapore.
• Open a Central Depository (CDP) Account (if opting for a CDP-linked account):
• Visit the SGX website to apply online or complete a physical form at the SGX office.
• Use your SingPass for a streamlined application process.
• Choose Your Brokerage Account Type:
• Decide between a CDP-linked account or a custodian account based on your investment preferences.
• Gather Required Documents:
• Prepare necessary documents such as identification (NRIC or passport) and proof of residence.
• Submit Application:
• Complete the account application form online or in person at a brokerage office.
• If applying online, you can use the SingPass “MyInfo” feature for easier form filling.
• Account Review:
• Some applicants may need to undergo a Customer Account Review (CAR) or Customer Knowledge Assessment (CKA) depending on the investment products they wish to trade.
• Fund Your Account:
• Link your bank account to transfer funds to your brokerage account.
• Start Trading:
• Once your account is funded, you can begin trading by navigating the trading platform provided by SingSrong.