My Brokerage rates are as follow:
Brokerage Default Rates SGX (SGD Contracts)
Online Trades
Minimum Brokerage ==> S$ 25
Trades <= S$50,000 ==> 0.28%
S$50,000 < Trades <= S$100,000 ==> 0.28%
Trades > S$100,000 ==> 0.28%
Brokerage Default Rates SGX (SGD Contracts)
Broker Assisted Trades
Minimum Brokerage ==> S$ 40
Trades <= S$50,000 ==> 0.50%
S$50,000 < Trades <= S$100,000 ==> 0.40%
Trades > S$100,000 ==> 0.25%
1. How do I open an account with you?
Just email me your contact and I will do the follow up with you.
2. If I have a trading account with other broker, can I open another account with you?
Yes, there is no limit as to the number of trading accounts you can open with Securities firms in Singapore.
3. How much money do I need to open an account?
You do not need to put up money to open a share trading account. However, if you want to open a Margin account, you need to put a deposit in cash or stocks into the account to start the trading. As for Futures Trading account, you need to deposit a minimum of cash S$4,000 to activate the account.
4. Can I have an Online facilities to come with my account?
Yes, you can request to have Online facility to come with your opening of account.
5. Is there any different in commission if I execute my order through Online than through you by phone?
Yes, there is different in commission charges when you execute your order through Online and direct phone calling to me.
6. If I am a frequent traveller, what type of account would you suggest me to open?
I would suggest you to open a Margin or Custodian account together with Online facility. For Margin account will take care of your payment when you are in overseas. And at the same time, with Online facility you can also trade through Internet and check your latest Margin account statement whenever you can access to Internet.
7. What is the settlement period for Singapore trades?
The settlement period is T+3.
8. What if the due date falls on a holiday?
If the due date (T+3) falls on a Singapore holiday, settlement will be made on the following market day.
9. What happens if I do not settle my trades within the settlement period?
Your shares can be force-sold at Phillip Securities Pte Ltd’s discretion.
10. If I buy a non-Singapore currency denominated stock, what currency do I settle in?
The traded currency is the default settlement currency.
11. Can I settle a non-Singapore currency denominated stock in SGD?
Yes, you can select SGD under “Settlement Currency” on the place order screen.
12. Will I be able to amalgamate my trades into one contract?
Singapore trades done through the online trading system will be amalgamated. However, these conditions must be met:
i. Trades must be done through the same trading channel
ii. Trades must be done on the same day.
iii. Trades must be of the same security.
13. How can I make payment for my trades?
You can choose to pay through one of the following ways:
i. Cash or Cheque at our offices at:
Phillip Securities Pte Ltd
250 North Bridge Road,
#06-00, Raffles City Tower
Singapore 179101
Tel: 6531 1555 (8.45am to 5.30pm)
ii. Cheque made payable to Phillip Securities Pte Ltd. (Please indicate your trading account number and the contract number or the contra statement number on the reverse side of the cheque.)
iii. EPS via the ATM or Internet banking.-
iv. GIRO through DBS/POSB, UOB Bank accounts.-
v. Bill payment via Internet banking
Please note that only SGD is accepted for payment via Internet banking, EPS and GIRO.
14. What is Electronic Payment for Shares (EPS)?
Electronic Payment for Shares (EPS) facilitates the transfer of funds between designated bank accounts of investors and their stockbroking companies.
15. How can I apply for EPS?
To activate this linkage, complete the Application for Electronic Payment for Shares (EPS) form. It takes about 3 weeks to process this linkage.
16. When do I receive my sales proceeds?
With EPS or GIRO, sales proceeds in Singapore dollars will be credited directly into your designated bank account on 'D' day and you should see the credit balance in your account on D + 1. Otherwise, a cheque will be sent to you on D + 1.
17. Can I use my sales proceeds to offset my purchases?
Yes, you may do so if:
i. both sales and purchases are in the same settlement currency, and
ii. the sales due date falls on or before the purchase due date.
Please inform your Trading Representative of your request one day before the due date of the sale(s).
