OUR MARKETS

Getting started – Account

Criteria for opening a CGS-CIMB Contracts for Difference ("CFD") account

From 1 January 2012 onwards, in accordance to the MAS notice on the "Sale of Investment Products", all broking firms are required to conduct Customer Knowledge Assessment on clients trading in unlisted Specified Investment Products such as CFDs. Clients (excluding Accredited or Expert Investors) are assessed whether they have the relevant knowledge or investment experience to invest in such unlisted investment product based on the following criteria:

a) Investment Experience - investor must have at least 6 trades in unlisted Specified Investment Products in the preceding 3 years; or
b) Educational Qualifications; or
c) Work Experience

Applying for a CFD account

To apply, you are required to fill up the CFD Application Form and consent to the Terms and Conditions Application to CGS-CIMB CFD and Risk Disclosure Statement for CFD Trading.

You may refer to https://cfd.cgs-cimb.com.sg/open-account.html for the account opening form.

Once we have received your CFD account application forms, please allow us 7 business days to process your application.

Funding your account

To start trading on CGS-CIMB CFDs, you will need to have a minimum deposit of SGD$2,000. This deposit can be used to initiate positions for both long and short contracts. Cash value is the only form of deposit we accept. CPF or other collaterals such as pledging of shares are not acceptable.

Methods of funding

  • Online transfer using PayNow
    Please note that PayNow is only available for participating banks.
    After logging in to PayNow, select 'Unique Entity Number (UEN) and key in the UEN number below :

    Unique Entity Number (UEN): 198701621DC01

    Alternatively, you may also scan the PayNow QR Code here


    Key in an amount you would like to transfer, indicate CFD trading account number under "Enter UEN/Bill Reference No.*
    Please send a screenshot to sg.cfdquery@cgs-cimb.com after your successful transfer.

  • Online transfer using FAST
    Please note that FAST is only available for participating banks
    Under 'Transfer', select 'To Other Bank Account (FAST)'
    For SGD transfer
    Bank : Standard Chartered Bank (Singapore) Limited
    A/c name : CGS-CIMB Securities (Singapore) Pte Ltd
    A/c number : 01-023-7120-2
    Select recipient's bank; enter transfer details and indicate CFD trading account number under reference
    Please send a screenshot to sg.cfdquery@cgs-cimb.com after your successful transfer.

  • Transfer using Cheque
    Cheque should be crossed and made payable to 'CGS-CIMB Securities (Singapore) Pte. Ltd.'. Please state your trading account number, name and contact number on the back of the cheque, and indicate that this payment is meant for CFD.
    Further details on EZ Cheque Deposit can be found by clicking on this link

  • Transfers and Payments


How long does it take for my funds to reach my CGS-CIMB account?

  Cash Cheque
Existing client For funds received before 12pm, it will be credited to your account after 3pm on the same business day. For cheques deposited before 12pm, funds will be credited to your account upon clearance of cheque usually within 2 business days.
New Client For funds received before 12pm, it will be credited to your account before 9am the next business day. For cheques deposited before 12pm, funds will be credited to your account upon clearance of cheque usually within 2 business days with an additional 2 to 3 business days for processing

Withdrawals

You can withdraw excess funds in your CFD Account provided the Free Equity is more than S$2,000 or if there is no open CFD positions.

You may provide us a withdrawal request in print, fax or email forms (sg.cfdquery@cgs-cimb.com). It will take about 5 business days before you are able to receive the payment. You will need to complete the 'CGS-CIMB Securities Margin Cash Withdrawal' form for withdrawal requests.