Getting started – Account

Criteria for opening a 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 CIMB CFD and Risk Disclosure Statement for CFD Trading.

You may refer to https://sgcfd.cimb.com/openaccount.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 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

  • Cash payment can be made over the counter at our office at:
    50 Raffles Place #01-01
    Singapore Land Tower Singapore 048623
    Opening hours : 8.30 am to 6 pm (Monday - Friday)
    Closed on Saturdays, Sundays & Public Holidays
  • EPS (Electronic Payment of Shares): Please choose 'lump sum' payment and initiate payments before 8pm to ensure that your CFD ledger is credited punctually before the next trading day. Please inform your trading representative that the EPS is meant for your CFD trading account.
  • Cheque should be crossed and made payable to '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.
  • Telegraphic transfers/Remittance

    For USD remittance:-
    Standard Chartered Bank, Singapore
    Main Branch
    6 Battery Road,
    Singapore 049909
    SWIFT address : SCBLSGSG
    For credit to : CIMB Securities (Singapore) Pte Ltd – Client CFD A/C
    A/c No. : 017-055-9645
    Payment Details: Client Name, trading a/c no. & purpose of payment

    For SGD remittance: -
    Standard Chartered Bank, Singapore
    Main Branch
    6 Battery Road,
    Singapore 049909
    SWIFT address : SCBLSGSG
    For credit to : CIMB Securities (Singapore) Pte Ltd – Client CFD A/C
    A/c No. : 01-023-7120-2
    Payment Details: Client Name, trading a/c no. & purpose of payment.

    For AUD remittance:-
    Standard Chartered Bank, Singapore
    Main Branch
    6 Battery Road,
    Singapore 049909
    SWIFT address : SCBLSGSG
    For credit to : CIMB Securities (Singapore) Pte Ltd – Client CFD A/C
    A/c No. : 017-068-7678
    Payment Details: Client Name, trading a/c no. & purpose of payment.

    For HKD remittance:-
    Standard Chartered Bank, Singapore
    Main Branch
    6 Battery Road,
    Singapore 049909
    SWIFT address : SCBLSGSG
    For credit to : CIMB Securities (Singapore) Pte Ltd – Client CFD A/C
    A/c No. : 017-055-9696
    Payment Details: Client Name, trading a/c no. & purpose of payment

    For MYR remittance:-
    1. Malaysian Resident : Malaysian and Not Singapore PR
    CIMB Bank Berhad
    Menara Bumiputra Commerce
    Kuala Lumpur Main
    No. 11 Jalan Raja Laut,
    50350 Kuala Lumpur
    Malaysia
    Swift code : CIBBMYKL
    For credit to: CIMB Securities (Singapore) Pte Ltd -- Client CFD A/C
    A/c No. : 80-0742154-3
    Reason of Remittance : For Future Investment
    Payment Details: Client Name, Trading A/c No. & Purpose of Payment.

    2. Malaysian Non-Resident : 1) Non-Malaysian or 2) Malaysian with Singapore PR
    CIMB Bank Berhad
    Menara Bumiputra Commerce
    Kuala Lumpur Main
    No. 11 Jalan Raja Laut,
    50350 Kuala Lumpur
    Malaysia
    Swift code : CIBBMYKL
    For credit to: CIMB Securities (Singapore) Pte Ltd -- Client CFD A/C
    A/c No. : 80-0742198-1
    Reason of Remittance : For Future Investment
    Payment Details: Client Name, Trading A/c No. & Purpose of Payment.

    Please inform your Trading Representative when you have done a transfer to avoid any delays in crediting your CFD account.

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

  Cash Cheque Electronic Payment for Shares(EPS) Phone/Internet/ATM
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. For funds received before 8pm, it will be credited to your account after 3pm on the next business day.
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 For funds received before 8pm, it will be credited to your account within 2 business days.

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. It will take about 5 business days before you are able to receive the payment. You will need to complete the 'CIMB Securities Margin Cash Withdrawal' form for withdrawal requests.