To buy Singapore stocks in your own name, you need two things: a Central Depository (CDP) account that holds the shares, and a brokerage account that places the orders. Opening a CDP account is free, takes about 15 minutes online with Singpass MyInfo, and you get your account number within roughly 5 business days. The brokerage is the part that actually costs money, and the gap between options is large: a traditional CDP-linked broker charges a minimum of about S$25 per trade, while a custodian broker like Tiger or moomoo charges under S$3. This guide covers the exact steps for both, the real 2026 fees, and how to choose.
The Central Depository (CDP) is run by SGX. It is the official register of who owns which Singapore-listed shares. When shares sit in your CDP account, you are the legal owner on record: you receive dividends directly, get AGM notices, and can vote. This is called direct ownership, and it is the traditional way Singaporeans have held local stocks.
A CDP account also holds two government instruments most young investors care about: Singapore Government T-bills and Singapore Savings Bonds. You need an individual CDP account (not a joint one) to apply for those through a bank's ATM or internet banking. So even if you plan to trade through a cheaper custodian broker, a CDP account is still useful to own.
This is the part the older guides skip, and it changes the whole decision. You do not need a CDP account to start investing in 2026. The newer brokers (Tiger Brokers, moomoo, Webull, Interactive Brokers, Saxo) use a custodian model: the shares are held by the broker on your behalf, pooled under their name, and you are the beneficial owner. You still own the stock, but your name is not on SGX's CDP register.
The trade-off is cost versus control. Custodian accounts are far cheaper to trade through, which matters a lot when you are putting in S$500 or S$1,000 at a time. CDP accounts cost more per trade but give you direct ownership and remove the small risk of being affected if a broker fails. For a young investor building a position slowly, the custodian route usually wins on maths. For someone who wants shares in their own name and plans to hold for years, a CDP-linked broker can be worth the higher fee.
If you decide you want direct ownership, open the CDP account first because the brokerage application will ask to link to it. The whole thing is done online at the SGX investor site. You do not need to visit a branch.
Singapore Citizens and PRs get the fastest path: log in with Singpass and use MyInfo to pull your details automatically, so you do not upload identity documents. You will still need a Singapore bank account to link for dividend payments, plus a scanned signature and your Tax Identification Number (for most Singaporeans that is your NRIC number).
If you apply with MyInfo and everything is in order, CDP usually emails your account number within about 5 business days. A manual online form (for non-Citizens/PRs, or anyone not using MyInfo) takes longer, around 10 business days, and longer still if CDP asks for more documents.
Once open, set up Direct Crediting Service so dividends and other cash distributions land in your bank account automatically instead of being mailed as cheques. Your linked bank account number shows up on your monthly and year-end CDP statements, which you can view in the SGX Investor Portal under e-Statements.
The brokerage is the account that places buy and sell orders. With a CDP-linked broker, the shares you buy settle into your CDP account. With a custodian broker, they settle into the broker's omnibus account.
CDP-linked brokers in Singapore are mostly the bank and traditional houses: DBS Vickers, OCBC Securities, UOB Kay Hian, Phillip Securities (POEMS), Maybank Securities and CGS International. To trade through CDP, your CDP account number must be linked when you open the brokerage account, so have it ready. Custodian brokers (Tiger, moomoo, Webull, IBKR, Saxo) do not touch your CDP account at all; you just open the account, fund it, and trade.
For most of these brokers the application is fully online with Singpass MyInfo, and approval is often same-day to a couple of business days. You then transfer funds in (PayNow, FAST or bank transfer) before you can buy.
Every SGX trade carries three layers of cost: the broker's commission, the SGX fees, and GST on top. The SGX fees are the same no matter which broker you use, and they are small. The commission is where brokers differ wildly.
SGX charges a clearing fee of 0.0325% of the contract value and a trading access fee of 0.0075% of the contract value, plus a settlement fee of S$0.35 per settlement instruction. GST of 9% applies to the commission and these SGX fees. One point worth knowing: scripless SGX shares transferred through CDP are exempt from the 0.2% share-transfer stamp duty, so there is no stamp duty on your normal stock trades. The 0.2% rate applies to private-company and physical share transfers, not to your CDP trades.
| Broker | Type | Minimum commission | Rate |
|---|---|---|---|
| DBS Vickers (Cash Upfront) | CDP-linked | ~S$10.90 | 0.12% (buy) |
| DBS Vickers (standard) | CDP-linked | ~S$25 | 0.18% |
| FSMOne | CDP-linked / hybrid | S$8.80 flat | Flat S$8.80 |
| OCBC Securities | CDP-linked | ~S$25 | ~0.275% |
| UOB Kay Hian | CDP-linked | ~S$25 | ~0.275% |
| Phillip POEMS | CDP-linked | ~S$25 | ~0.28% |
| Tiger Brokers | Custodian | ~S$0.99 | ~0.03% |
| moomoo SG | Custodian | ~S$0.99 | ~0.03% |
| Webull | Custodian | ~S$0.80 | ~0.025% |
| Interactive Brokers | Custodian | ~S$2.50 | ~0.08% |
At the traditional CDP-linked brokers, the headline commission is roughly 0.18% to 0.28% of the trade value, but the binding figure for small investors is the minimum commission of about S$25 per trade. On a S$1,000 buy, S$25 is 2.5% gone before the stock moves. DBS Vickers has a cheaper Cash Upfront option (around S$10.90 minimum, 0.12% on the buy side) for those who pre-fund, which is the most competitive CDP-linked route. FSMOne offers a flat S$8.80 per SGX trade and links to CDP for local shares, which makes it the value pick among direct-ownership options.
Custodian brokers are in a different league on price. Minimums sit between roughly S$0.80 and S$3, with commissions around 0.03% to 0.08%. For someone dollar-cost-averaging a few hundred dollars a month, this difference compounds into real money.
When you buy SGX shares you do not pay on the spot. Settlement runs on a T+2 cycle: the money leaves your account, and the shares land in CDP or the broker's account, two business days after the trade. So a Monday buy settles on Wednesday, and you need the cash ready by then.
A standard cash account lets you buy first and pay by the settlement deadline. That flexibility is why the bank brokers charge a higher minimum commission. A cash-upfront account flips it: you pre-fund the account, the broker debits you immediately, and in return you get a much lower rate. DBS Vickers Cash Upfront is the clearest example, with a minimum near S$10.90 against the standard S$25. Custodian brokers also work pre-funded, which is part of how they keep commissions so low.
Cash accounts at the traditional brokers allow contra: you can sell a stock before the T+2 payment falls due, so you only settle the gain or loss rather than the full purchase price. It sounds convenient, but a contra loss is still a real debt you owe the broker, and it has tripped up plenty of new traders who treated it as free money. If you are starting out, treat every buy as cash you must have on hand, not a position you plan to flip before payment.
The headline commission is only part of the bill, and the extras are where guides tend to go quiet. CDP trades themselves carry no custody fee, because the shares sit on SGX's own register. The charges appear once you start holding foreign shares through a custodian, or you go quiet for a while at a bank broker.
Foreign share custody is the common one. At PhillipCapital's POEMS, holding US or Hong Kong shares in a nominee account costs S$2.00 per counter per month, capped at S$150 a quarter and subject to GST, and the fee is waived if you hit a minimum trading threshold (broadly two trades a month, six a quarter, or about S$132 in brokerage a quarter). Several bank brokers run a similar structure, and some add a quarterly maintenance or inactivity charge if your account sits idle. The low-cost custodian brokers (Tiger, moomoo, Webull) generally skip custody fees on US shares, which is part of their pitch.
Two questions worth settling before you fund an account. First, what happens if the broker goes under. With a CDP-linked trade your shares are registered in your own name on SGX's depository, so a broker's failure does not put that holding at risk. With a custodian broker your shares are pooled under the broker's name, and you rely on how well client assets are segregated. This is the real reason direct ownership through CDP carries a higher fee: you are paying for that separation. Note that Singapore's SDIC schemes cover bank deposits and certain insurance policies, not your brokerage shares, so do not assume a government backstop on a custody account. Stick to brokers licensed by MAS and check how they hold client money.
Second, the one that catches Singapore investors buying US stocks: US estate tax. The US treats shares in US companies as US-situated assets, and for someone who is not a US citizen or resident, the estate tax exemption is only US$60,000, far below the multi-million exemption US citizens get. Above that, US-situated assets can be taxed at rates climbing toward 40%. It applies whether you hold the shares through CDP-style ownership or a custodian. One practical workaround many long-term investors use is to buy US exposure through Ireland-domiciled ETFs listed in London rather than US-listed funds, which sidesteps both the 30% dividend withholding and the US estate tax issue. If you are building a sizeable US position, factor this in early and read our getting started guide before you go deep.
Singapore is friendly here, and it removes a lot of the fear new investors carry. There is no capital gains tax, so profit from selling SGX shares held as a normal investment is not taxed. Dividends from Singapore-listed companies are paid under the one-tier system and are tax-exempt in your hands, so they do not go on your income tax return.
The exceptions are foreign income. Dividends from overseas shares (for example US-listed stocks through a custodian broker) can face withholding tax at source, and US dividends are typically withheld at 30% for Singapore investors. That does not change your Singapore tax filing, but it does eat into yield, so factor it in when comparing local and foreign holdings. If you are unsure how dividends interact with your overall return, our getting started guide and the income tax guide are good next reads.
There is no single best answer, only the right fit for how you invest. Run the maths on your typical trade size. If you buy in small amounts often, a custodian broker keeps almost all of your money working. If you buy larger amounts and want shares in your own name, a CDP-linked broker or the FSMOne flat fee makes more sense.
Yes. There is no charge to open or maintain a CDP account, and no annual fee. Your costs only start when you trade, in the form of broker commission, SGX fees and GST.
If you apply online with Singpass MyInfo and your details are in order, CDP typically emails your account number within about 5 business days. A manual online form can take around 10 business days, longer if extra documents are requested.
No. Custodian brokers such as Tiger, moomoo, Webull, Interactive Brokers and Saxo let you buy SGX stocks without a CDP account, holding the shares under their own name on your behalf. A CDP account is only required if you want shares registered in your own name, or if you want to buy T-bills and Singapore Savings Bonds.
With a CDP-linked broker, shares settle into your CDP account and are registered in your name, so dividends and AGM notices come to you directly. With a custodian broker, the shares are held under the broker's name and you are the beneficial owner. Custodian accounts charge much lower commissions; CDP accounts give direct ownership and shareholder rights.
SGX charges a 0.0325% clearing fee and a 0.0075% trading access fee on the contract value, plus a S$0.35 settlement fee per instruction, with 9% GST on these and the commission. The commission itself ranges from a roughly S$25 minimum at traditional CDP-linked brokers down to under S$3 at custodian brokers.
There is no capital gains tax in Singapore, so investment profits on SGX shares are not taxed. Dividends from Singapore-listed companies are paid under the one-tier system and are tax-exempt, so you do not declare them. Foreign dividends, such as from US stocks, can face withholding tax at source (often 30% for US dividends).
Yes, and many investors do. A common setup is a CDP account for T-bills, SSBs and long-term blue-chip holdings, plus a low-cost custodian broker for small, regular stock purchases where the cheaper commission matters most.
Your trade settles two business days after the order fills. The cash leaves your account and the shares arrive in CDP or the broker's account on that second day, so a Monday buy settles on Wednesday. With a standard cash account you have until then to pay; with a cash-upfront or custodian account you fund it before you buy.
You can hold only one individual CDP account, which can be linked to several CDP-linked brokers at once. There is no limit on the number of brokerage accounts, and many investors run more than one to compare pricing or access different markets. Just watch for quarterly maintenance or inactivity fees on accounts you stop using.
Shares held in your CDP account stay registered in your name regardless of where you live, and dividends keep crediting to your linked bank account as long as it stays open. Some brokers restrict trading once you change tax residency, so tell your broker about a move and check whether your account type still works from overseas before you go.
Singapore does not tax the gains or dividends, but the US side does bite. US dividends are usually withheld at 30% for Singapore investors, and US-situated assets above US$60,000 can face US estate tax of up to about 40% on death, since non-US persons only get a US$60,000 exemption. Many long-term investors use Ireland-domiciled ETFs to sidestep both.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.