You Want Shares? We Want Answers... But Mostly We Want You to Use a Broker (Sorry, Not Sorry)
Let's face it, brokers can be like that clingy friend who keeps trying to set you up with their weird cousin Gary. "But Gary loves stocks too! You'll have so much in common!" they insist, oblivious to the fact that Gary collects porcelain thimbles and your idea of a good time is watching paint dry (except when it's on a stock chart, that is).
So, you're here, Googling like a mad scientist for ways to ditch the broker and buy shares in Singapore all by your lonesome. Well, buckle up, buttercup, because we're about to hit you with some bold truths.
Tip: Be mindful — one idea at a time.
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| How To Buy Shares In Singapore Without Broker |
The Myth of the Brokerless Bonanza
Cracks knuckles dramatically Here's the thing: buying shares in Singapore without a broker is basically impossible. The Singapore Exchange (SGX) likes things neat and orderly, and that means using a Central Depository (CDP) account to hold your snazzy new shares. But guess who needs a broker to open a CDP account? Yep, you guessed it - your not-so-clingy-after-all broker friend.
QuickTip: Treat each section as a mini-guide.
But Wait, There's More (Because Adulting is Complicated)
Now, before you write off brokers forever, hear us out. Online platforms like WeBull or Moomoo offer self-directed trading, which basically means you're the captain of your own ship (or should we say, kayak?). You make the calls, they execute the trades. Think of it as having a first mate who handles the paperwork while you bellow orders from the crow's nest (metaphorically speaking, of course). It's not exactly broker-free, but it gives you a sense of control, which, hey, might be all Gary was ever good for anyway.
Tip: Reread slowly for better memory.
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Okay, Okay, You Still Want to Go Rogue (We Admire Your Spirit)
Look, we get it. The independent streak runs strong. But if you're truly determined to avoid brokers altogether, your options are limited. Here's your risky-business plan B (with air quotes for emphasis):
QuickTip: Reading carefully once is better than rushing twice.
- Regular Savings Plans (RSPs): Some banks in Singapore offer RSPs that let you invest in a pre-selected basket of shares. It's like a choose-your-own-adventure for investing, but with less control and possibly featuring Gary (no, just kidding... maybe).
However, RSPs come with limitations. You have less choice over what you invest in, and the fees might not be the most competitive.
The End (Unless You Decide to Use a Broker, Then There's a Happy Ending)
Look, we started this by poking fun at brokers, but the truth is they offer valuable services (like opening those pesky CDP accounts) and can be a great resource for new investors. But if you're still determined to go it alone, well, good luck, captain! Just remember, with great independence comes great responsibility (and possibly some not-so-great returns).
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