The Ultimate Guide To Linking Your CDP Account

How To Link CDP

You’ve created your CDP account with the SGX. However, your job isn’t done yet!

You’ll still need to link your CDP account to a broker for you to start trading!

Here’s what you need to know about this process:

If you have created your CDP account before signing up with DBS Vickers, you can enter your CDP account number during the sign-up process. If you did not create your CDP account yet, you will need to fill up the SGX Linkage form and mail it to DBS.

When you sign up for your DBS Vickers account, you will be asked to enter your CDP account.

DBS Vickers Apply For Account

Once you sign up for the account, DBS Vickers will perform the linkage for you.

When the linkage has been complete, you will receive an email from DBS Vickers.

DBS Vickers Link CDP

If you do not have a CDP account when you were signing up for DBS Vickers, you are still able to link them afterwards!

However, the process is much more troublesome.

Here are the steps that you’ll need to do:

  1. Fill up the SGX Apply for/Revoke Linkage Form
  2. Mail it to DBS using their Business Reply Envelope

It may take a while for your request to be processed by DBS Vickers.

As such, it would be better if you create your CDP account first before signing up for DBS Vickers!

If you wish to trade on the SGX with DBS Vickers, then it is compulsory for you to trade using your CDP account.

DBS Vickers Use CDP To Trade In SGX

This allows you to purchase multiple products on the SGX like the STI ETF or USD-denominated stocks.

Otherwise, you are only able to trade on the foreign markets!

Here’s what you need to do to link your CDP account to FSMOne:

  1. Go to Account Settings
  2. Click on ‘Sell from CDP’
  3. Enter your CDP account details
  4. Receive the confirmation email

For FSMOne, your stocks are kept under the custody of iFAST, instead of your CDP account.

However, FSMOne gives you the option to sell your CDP stocks through their brokerage platform!

This is really ideal as the commissions that FSMOne charges are lower compared to the other CDP brokers.

Here are the steps that you’ll need to do in detail:

#1 Go to Account Settings

On FSMOne’s homepage, you’ll need to click on the account settings tab.

FSMOne Link CDP Account Settings

#2 Click on ‘Sell from CDP’

You’ll need to click on the ‘Sell from CDP‘ option. You can only link your CDP account to your personal account.

FSMOne Sell From CDP Linkage

#3 Enter your CDP account details

You will be asked to enter your CDP account number into the field below.

FSMOne Enter CDP Account Details

After submitting your details, it will take around 1-3 working days for your accounts to be linked.

FSMOne CDP Linkage

#4 Receive the confirmation email

Once the linkage has been completed, you will receive an email from FSMOne that confirms your linkage.

FSMOne CDP Linkage Email

When you open a Cash Management account with POEMS, you are required to fill in your CDP Account number. If you do not have a CDP Account, you will be unable to open a POEMS Cash Management Account.

However if you wish to open a Cash Plus Account instead, you do not need to link your CDP account!

When you are creating your Cash Management Account, you will be asked for your CDP account details.

POEMS Link to CDP Cash Management Account

Your CDP account is a prerequisite to opening the Cash Management account. If you do not have a CDP account, you can open your POEMS account!

You are unable to link your CDP account to Saxo. This is because Saxo operates on a custodian model, instead of transferring your shares to your CDP account.

Here’s what you need to do to link your CDP account to a POSB account:

  1. Go to Profile → Account
  2. Click on Update from payouts
  3. Select your bank and enter your bank account number

This is what you need to do for each step:

#1 Go to Profile → Account

When you are on the SGX CDP website, you will need to go to your profile and click on ‘Account’.

CDP Account Settings

#2 Click on Update from payouts

After that, you’ll need to click on ‘Update‘ on the Payouts section.

CDP Account Settings Payout

#3 Select your bank and enter your bank account number

You’ll need to select your bank and enter your bank details.

CDP Select Bank Account

Even though you do not see POSB on the list, you can click on DBS since they are actually the same bank!

It will take 1 business day for your account to be linked.

CDP Link to POSB Confirmation

How do I know if my CDP is linked?

You will need to go to the Account section on the SGX CDP website. From there, you will be able to view a list of the brokerage accounts that are linked to your CDP account.

Similar to the steps above, you’ll need to go to ‘Profile → Account‘ on the SGX CDP website.

CDP Account Settings

At the right hand side, you will be able to view a list of brokerages that are linked to your CDP.

CDP View Linked Accounts

Some of the brokerages that you can link to your CDP account include:

  1. FSMOne
  2. POEMS
  3. DBS Vickers

Conclusion

Most brokers that allow you to trade on the SGX will enable you to link your CDP account. This allows you to store all of your shares in a centralised account!

However, there are some platforms like Tiger Brokers that do not have this option!


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