Frequently Asked Questions

CPF

How can I trade using my CPF?

  1. Open a CPF Investment Scheme (CPFIS) account with an agent bank (POSB/DBS, UOB, OCBC). For more details, please refer to CPF Website.
  2. Contact your trading representative to link your CPFIS Account to your trading Account.
  3. Before investing, check to ensure that you have computed the investable amount / sufficient holdings before order submission.
  4. After the linkage has been established, you will need to select the option "CPF" under "trade type" in order to use your CPF OA funds for settlement.
  5. If “CPF” is not selected under “trade type”, the trade will be defaulted to cash settlement.
  6. CPF trade type selection is only available for shares included under CPFIS.

What are the differences between cash trade and CPF trade?

Cash Trade CPF Trade
You need to have:
  • Trading Account with linkage to your CDP Global Securities Account (GSA)
  • Trading Account with GSA linkage is recommended; and
  • CPFIS Account linkage
  • Your shares are custodised at:
  • CDP GSA
  • Agent bank
  • To execute trades
  • Select Trade Type as “Cash”
  • Select Trade Type as "CPF"
  • If you are placing your trades through your trading representative (TR), please inform your TR that it is a CPF trade.
  • How do I know which stocks are CPF approved?

    You may refer to the SGX website for the list of CPF Approved Stocks.

    Can I contra my CPF trades?

    Contra is not allowed for CPF trades, i.e. you are not allowed to buy and sell the same stock on the same day unless you have sufficient shares in your CPF account to deliver for the sell trade.

    What is the settlement currency?

    CPF trades can only settled in SGD.

    Can I use my sales proceeds from my CPF trade to settle other purchase contracts?

    If you intend to use the sales proceeds to settle your new purchases, you can only purchase the stock one day after you have sold the stock (subject to CPF investment limit).

    Am I entitled to rights when I own shares purchased through CPF funds?

    Yes.

    How do I sell my rights entitlements under CPFIS?

    To sell your rights entitlements under CPFIS, you will need to select the option "CPF" under "trade type".

    How much can I invest under CPFIS?

    Please note that the percentage allowed from your investible savings for investment is imposed by CPF and subject to changes by CPF. Please refer to CPF Website for updates. To check for your CPF Investment Scheme holdings, you may contact your agent bank.

    What are the circumstances that my CPF trades would be revoked to Cash Trade?

    You might have:
    • Not establish CPF linkage with Phillip Securities
    • Exceeded the investment limit under CPF Investment Scheme
    • Insufficient funds in CPFIS Account (for buy contract)
    • Insufficient shares in CPFIS Account (for sell contract)

    What should I do when my CPF trades are revoked?

    • All revoked cases (partially or fully) will be amended to cash settlement.
    • If you do not have sufficient cash or shares to meet your payment or delivery obligations, the affected contract will be forced-liquidated or subject to buying-in.

    Can I appeal to amend the Cash trade to CPF?

    • All trade amendments relating to CPF are subject to agent bank and CPF Board approval.
    • Cut-off time for appeal request is Trade+1, before 11am
    • There will be charges imposed by agent bank for successful appeal cases
    • Only sell trade is allowed for appeal and for once only.