When investing in Singapore stock market, the trading must be automated as well as based on strategic planning. It’s necessary to follow the systematic strategy with proper analyzation instead of trusting on media rumors while buying stock picks which will lead to make good profits when investing. Implementation of effective strategy which gives you earning persistence over a significant period of time will definitely worthy for you while trading. Following are the stress-free ways to guide you for how to pick stocks when trading in Singapore Stock market:
While picking a stock, you need to have the following documents:
- Original identity card for being in Singapore.
- Your passport with your original residential address.
- Passport of local banks which include DBS, UOB, and OCBC as these bank accounts is used to pick/ buy stock.
- If you want a higher trading limit from the starting, then the proof of salary will be required.
Open a CDP Account:
CDP is a Central Depository account, in which all your stocks are deposited. With this Central depository account, you will be aware of all movements/fluctuations in stock market.
If you want to check how much amount of stock you have in your account with how much quantity, you can easily check through your CDP account.
Open a Trading Account:
While trading in Singapore market & to buy stock market picks & signals, you will require opening a account for trading which you will be using for purchasing & selling stock. Also note that for picking a stock, you must be above 18 year old.
While opening a trading account, there are three forms to be filled which include; main trading account application form, electronic payment for share form & CDP linkage form.
Before Purchasing First Stock in Singapore:
Once your trade account will get open, you will get snail mail from advisory firm containing your trading account number & password; this will take 3 to 5 working days.
With this, you will also receive statement informing your CDP account is opened. Once you get confirmation mail informing that your trading account & CDP account is linked, you can commence trading.
What after Selling the Stocks?
If you sell your stocks which exist in your CDP account, the funds will reach in your bank account on T+4 day (Transaction) which means if you sell a stock on Monday (T-date),then you will get your funds by Friday(T+4) in your account.
Moreover, you don’t need to effect payment to settle the purchase as you’ve already sold the stocks, if an investor gets signals for selling his stock in the contra period.
By reading these steps, I hope you have definitely got the solution for stock trading picks while trading in Singapore stock market. These stock picking steps are very much helpful if you start buying stock in Singapore.
Also, if you are looking for any advisory for your stock solutions, you can choose our advisory firm when it comes to investing in Singapore Stock market.
You can visit our website, www.mmfsolutions.sg for any solutions regarding investing in Singapore stock market.