Frequently Asked Questions

 – Margin (M)

Can I open a corporate margin account?

Yes.

Can I contra my trades?

Yes.

Can I open a joint margin account?

Yes.

Can I sell my existing shares through margin account?

No. You would have to transfer the shares into your margin account before you can sell them.

Can I sell those shares allotted (IPO Shares) through margin account?

No. You would have to transfer the shares into your margin account before you can sell them.

How do I transfer the shares into my margin account?

You can transfer the shares by signing the relevant forms. Please contact your trading representative for a copy of the form.

How long does it take for shares to be transferred into my account?

It will take about two working days for the shares to be transferred into your margin account.

How long does it takes to start an account?

Your margin account will be ready for trading within five working days from the day we receive your application, if it is approved.

How long will it take to open an account from overseas?

This will depend on the postage time it takes to send the forms to you and for you to send the completed forms back to us. Furthermore, once the account is opened, we will send the Internet password via mail. Thus, the whole account opening process will take approximately two weeks or more.

If I have an existing Custodian account maintained with Phillip Securities, can I convert it to Phillip Investment Margin Account?

Yes. Custodian account can be converted into a share margin financing account by signing the relevant forms. Please contact your trading representative for a copy of the form.

What are the charges for this account

Please refer to Investment Margin Account Infosheet.

What are the requirements to be able to open a Phillip Investment Margin Account from overseas?

  1. You need to be 21 years and above to open an account with us.
  2. Your account opening documents need to be certified by a public notary, commissioner of oaths, or judicial officer.
  3. You are not blacklisted with the Singapore Exchange (SGX) or with any other securities firm nor have any delinquent account with any other securities firms.

What if the client requires more credit?

To request for a higher credit limit, client needs to seek his Trading Representative’s assistance. The Trading Representative will submit a request to the company for review. Generally, review time may take 3-5 working days. Request for a substantially higher limit may take longer. Upon approval of the new credit limit, client will receive a notification from the company.

Who can open a Phillip Investment Margin Account?

Anyone who is above the age of 21 years old.

With multi-currency facility, will there be automatic conversion of currency for trade settlement?

Please take note that there will not be any auto currency conversion for trade settlement in the trading account, customers have to take the necessary steps to either transfer money into the trading account or perform a currency conversion to settle the trades. Please refer to the Margin Financing Account Information Sheet for more details.