Assuming you have read through the basics of investing and are now ready for the real deal. This article should bring you a step closer to investing in your first stocks.
Before investing in your first stock, one will need to open a brokerage account. Below is the step-by-step guide to doing so.
Open A Central Depository Account (CDP) Direct Securities Account
Let us not be alarmed by the scary looking string of terminology.
The Central Depository Account, or commonly known as CDP, is an account to safe keep all the shares you bought through the open market.
1. Have a bank account with a local bank
To open an individual CDP Securities Account, one is required to have a bank account with one of the following banks in Singapore:
Citibank DBS/POSB HSBC Maybank OCBC Standard Chartered Bank UOB
Do also note that one needs to be at least 18