Open your first brokerage account
30 October 2025
3 min read
Thinking of investing but not sure what accounts you need? Don’t worry — you don’t need to know everything to start. Just figure out what you want to invest in, and that’ll tell you what to open.
Step 1: What are you investing in?
Use this table to find out what kind(s) of account(s) you'll need.
| Investment type | CDP needed? | Brokerage needed? | Notes |
|---|---|---|---|
| SGX stocks |
Yes |
Yes |
Use a brokerage that links to CDP; stocks are held in your name |
| US or HK stocks |
No |
Yes (Custodian) |
Shares are held under the broker, not in your CDP |
| Singapore Savings Bonds (SSBs) |
Yes |
No |
Apply via bank’s internet banking or ATM; CDP must be linked to bank |
| Robo-advisors/ Unit trusts |
No |
No |
Managed through the platform; no CDP or traditional brokerage needed |
Step 2: Set up the right accounts
Based on what you chose above, here's what to do next.
If you need a CDP and a brokerage (e.g. for SGX stocks):
- Open a CPD account
- CDP stands for Central Depository (Pte) Limited — it’s where your Singapore-listed stocks (like those on SGX) are safely held under your name.
- Must be 18+ with a local bank account
- Apply for free at SGX CDP - takes a few days to process
- Choose a brokerage
- This is the platform where you buy and sell your investments.
- Compare fees, platform features, and access to global markets
- Check out MoneySmart's brokerage comparison
If you only need a CDP (e.g. for SSBs):
- Apply for a CDP account and link it to your local bank
- Apply for SSBs through your bank’s internet banking or ATM
If you're using robo-advisors or unit trusts:
- Skip both CDP and brokerage accounts — the platform handles everything for you
- Great for beginners who want a hands-off approach
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