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CFD Account Opening

Q1. How do I apply for a CFD Account?

To apply, you are required to sign the CFD Application Form, and agree to be bound by the Terms and Conditions Application to Contracts for Difference ("CFD") and Risk Disclosure Statement for CFD Trading.

You may refer to https://sgcfd.cimb.com/openaccount.html for the account opening form.

Q2. What are the criteria for opening a 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

Q3. How long does it take to open a CFD Account and commence trading?

The actual time may vary. Upon the receipt of your CFD account application forms, please allow us 7 business days to process your application.

Q4. How will I know if my CFD account is activated?

You will receive an email containing your user log-in details, followed by your password in a pin mailer which will be mailed to you separately.

Q5. Can I use my existing i*Trade@CGS-CIMB User ID to place order in CFDs?

No. The CFD online trading system and i*Trade@CGS-CIMB are two different trading platforms. Therefore, the use of a separate User ID and password will be required.

You may login to our CFD platform at https://sgcfd.cimb.com

Q6. Can I trade CFD offline?

Yes, only if you choose to trade CFDs "with advice" on account opening. You will be required to sign a financial advisory agreement where advice is charged at a fee on each occasion it is sought.

Q7. What is the minimum deposit that I would need to place in my CFD account before I can commence trading?

The minimum deposit is S$2,000.

Q8. How can I make a deposit into my CFD account?

You may make a deposit to your CFD account by cash, cheque, internet banking, or ATM via Electronic Payment for Shares (EPS).

For cheque deposit, please issue a cheque in favour of "CGS-CIMB Securities (Singapore) Pte Ltd" with your CFD account number and instruction to deposit funds into your CFD account written behind the cheque.

Q9. When will the additional funds be made available in my CFD Account after I have made my deposit?

a) By cash If we receive your funds before 12pm, your trading limits will be adjusted after 3pm on the same business day. For new account funding, your funds will be added before 9am the next business day if you deposit funds before 12pm. If we receive your funds between 12pm - 5pm, the trading limit will be adjusted before 9am or after 3pm (for new account funding) on the next business day.
b) By cheque Your trading limit will be adjusted upon clearance of cheque, subject to cut-off time of deposit. For new account funding, it will take another 2 to 3 business days.
c) By Phone banking /Internet banking/ATM via EPS (Electronic Payment for Shares) Your trading limit will be adjusted after 3pm on the next business day if your funds transfer reaches us before the bank cut-off time. For new accounts, you should receive the funds within 2 business days if you transfer your funds before the bank cut-off time. Please key in 7 digits of your Cash Trading Account number as the reference no. (for DBS/POSB bank, 6 digits trading account number is required only)

Q10. Can I withdraw my excess money from my CFD Account?

Yes, 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.

Q11. When will I receive the payment after I made a withdrawal request?

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 'CGS-CIMB Securities Margin Cash Withdrawal' form for withdrawal requests.

Q12. Is there any additional documentation required if I wish to trade in foreign CFD's?

You will need to sign the respective subscription forms and the respective vendor &/or exchange agreements for each foreign market.

Q13. If I trade CFDs in other foreign market, can I make payment using foreign currency denominated cheques?

Yes. Only USD denominated cheque drawn locally are accepted. All other foreign currencies must be paid to CGS-CIMB Securities via remittance mode.

Q14. Who can I contact for more information?

You can contact your Trading Representative ("TR") or contact our Call Centre at 1800 538 9889. You may also choose to email us at clientservices.sg@cgs-cimb.com