Step by step guide to start investing
It is never too early to start to learn investing. Even if you got no capital !
Well if you are a student I advised you to join an investment club to learn more. Investing is an art. Well you may say it's difficult since even old gurus sometimes make investment mistakes !
Haha.
Did you know that investing has been around for over 200 years? In 1792, twenty-four men entered a room and signed a paper that said they would sell parts of companies among themselves and others. The parts of the companies were sold in the form of stocks. This marked the beginning of the stock market.
Although times have changed greatly in the last 200 years, the ideas of investing have basically remained the same. People still buy and sell stocks, bonds, and mutual funds.
This is why you should learn more about investment.Ok. Supposed you are a working adult or got some small income or savings, you can start investing now. The most common type is stocks.
Stocks are listed on SGX are mostly local stocks. Of course there are Dow Jones ,NASDAQ
but i recommend starters to invest locally first.
Steps:
1) Go to Central Depository Pte Ltd at SGX Centre to open a CDP account.(This account will be used to formally hold your shares)
2) Go to any stockbroking firm to open an account to facilitate your trading. (They are sort of like the middleman between you and SGX. *Note that you cannot trade securities directly through your CDP account)
(Some broking firms provide CDP application forms so you only go one place)
Bring along the following documents :* Identification card* Bank account number* CPF investment account number (if applicable)* CDP account number (if applicable)
Well in today's age, most IT-Savvy young folks use online trading for lower commissions and more research reports!
The following brokerage firms offer online trading facilities.
KimEng
DBSVickers
UOB KayHian
DMG
Lim&Tan
PhilipsCapital
CIMB GK
iOCBC
FraserDirect
Westcomb Financial
posted by leon @ 10:09 AM
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