I’ve been getting a lot of questions about using Saxo to buy Singapore shares recently. Given that Saxo recently overhauled their entire pricing structure for Singapore shares, I figured this was a good time to do an update post on them.
For background, Saxo previously charged S$5 a month for access to SGX shares. Because of that, there really wasn’t any reason to use Saxo to buy Singapore shares.
Well, that S$5 a month has been completely waived now, and they also reduced their fees for Singapore shares.
So suddenly, Saxo has become a pretty viable choice to buy Singapore shares.
Basics: CDP v Custodian
If you buy Singapore stocks, you can buy them via Central Depository (CDP) or Custodian.
With a CDP system, all stocks you buy will go into your CDP account, and you are viewed as the legal owner of the shares.