Phillip Investment Account – Prepaid (CC)

No. If you wish to have Margin/Financing facilities, please open a Margin (M) Account. Please note that the commission rate for Prepaid (CC) and Margin (M) Account is different. For more information, please view Securities Financing.
You will need to transfer the shares from your CDP account into your account with Phillip Securities before you can sell it.
No.
Yes. We do not charge for incoming transfer.
Yes, we will automatically waive the monthly charges if you have at least two trades in your account for the month, regardless of trade size and whether you trade local or foreign shares in that account.
Yes, as long as a minimum of 1 trade (regardless local or foreign and regardless of trade size) is performed in the Prepaid (CC) Account in the quarter. Quarterly trading activity is assessed at the end of March, June, September and December.
Please refer to Prepaid (CC) Account Infosheet.
Commission rates vary depending on the markets and trading modes used to execute the orders. Please click here to view the commission rates.
Please refer to the list of payment methods in the Prepaid (CC) Account Information Sheet.
The buy and sell contracts will be settled by debiting and crediting your account accordingly.
The buying power is based on the amount of available cash in the account. There is no minimum deposit requirement. Buying power is restored immediately once the sell order is filled. The available cash takes into consideration outstanding purchase and sale contracts.
Please refer to Prepaid (CC) Account Information Sheet
Sale proceeds will be credited into your Account on due date.
Your account will be debited on due date.
Any shares purchased via this account will be held under the custody of Phillip Securities.
You can trade all markets offered by Phillip Securities. Please click here for more information.

For Cash Management, Custodian, Prepaid, Margin, and Cashplus accounts:

From 26 October 2020, all new accounts will be auto enrolled with this feature. An auto currency conversion process will be performed  at 7.15pm based on prevailing rates to offset any currency in debit balance by utilizing currencies in credit balance according to currency hierarchy set up in our system. The hierarchy of currencies to be utilized for offsetting in descending order: SGD, USD, HKD, CNY, JPY, AUD, GBP, EUR, CAD, & MYR.

To opt in/out from this facility, please contact your Trading Representative.

 

For trading accounts that are not opted in for the above feature, clients are required to take the necessary steps to either transfer money into the trading account or submit a currency conversion request to avoid being charged debit interest.