So, you have read through all the basics about investing from our investing 101 page. You are now ready to start dipping your toes into the stock market. That is wonderful news. However, how do you actually trade shares in the market? Here are the three easy steps to start investing.
Open Your CDP Account
If you are in Singapore, you would need to open two accounts; a brokerage account and a Central Depository (CDP) account. A CDP account is basically a “bank account” for your stock, directly managed by the Singapore Exchange. Once you purchased a Singapore stock, it would be placed into your CDP account. This means that the stock will be directly under your name. You can even use a different brokerage account to sell your stocks in your CDP account.
In most cases, the brokerage firm can help you with opening a CDP account concurrently when …