Frequently Asked Questions

 – Margin (M)

Who can open a Margin Account (M)?

Those who wish to open a Margin Account (M) must be above the age of 21 years old and must not be blacklisted or found to be delinquent by the Singapore Exchange (SGX) or other securities firms.

Can I open a corporate margin account?

Yes.  Please visit Phillip Investor Centre or contact Trading Representatives.

Can I contra my trades?

No.

Can I open a joint margin account?

Yes.  Please visit Phillip Investor Centre or contact Trading Representatives.

Can I sell my existing shares in CDP through Margin Account (M)?

No. You would have to transfer the shares into your Margin Account (M) before you can sell them.

Can I sell those shares allotted (IPO Shares) through Margin Account (M)?

No. You would have to transfer the shares into your Margin Account (M) before you can sell them.

How do I transfer the shares into my Margin Account (M)?

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 around two working days for the shares to be transferred into your Margin Account (M).

How long does it take to start an account?

Your Margin Account (M) will be ready for trading within three working days from the day we receive your application, if it is approved.

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

The time it takes to open an account from overseas depends on the postage time required to send the forms to you and for you to return the completed forms back to us. Once the account is opened, we will send the Internet password via mail to you. The whole account opening process may take approximately two weeks or more.

If I have an existing Custodian Account (C) maintained with Phillip Securities, can I convert it to Margin Account (M)?

Yes. Custodian Account (C) can be converted into a Margin Account (M) by signing the relevant forms. Please contact your trading representative for a copy of the form.

What are the charges for this Account

What are the requirements to be able to open a Margin Account (M) 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 or have any delinquent account with any other securities firms.

What if the customer requires more credit?

To request for a higher credit limit, the customer is required to contact his/her Trading Representative. The Trading Representative will submit a request to the company for review. This generally takes 3-5 working days for processing. Requests for a substantially higher limit may take longer for review. Upon approval of the new credit limit, the customer will receive a notification from the company.

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

Please take note that there will not be any automated currency conversion for trade settlement in the trading account. Customers 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. Please refer to the Phillip Investment Account - Margin (M) Information Sheet for more details.