Getting started – Account

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

You may refer tofor 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 CGSI 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
  CGSI SECURITIES SINGAPORE
  
  
  Key in an amount you would like to transfer, indicate CFD trading account number under "Enter UEN/Bill Reference No.*
  Please send a screenshot tosg.cfdquery@cgsi.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 International 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 tosg.cfdquery@cgsi.com after your successful transfer.


• Transfers and Payments
  
  • For All Clients - CFD Client SSI

	Cash
Existing client	For funds received before 12pm, it will be credited to your account after 3pm on the same business day.
New Client	For funds received before 12pm, it will be credited to your account before 9am the next business day.

Withdrawals

You can withdraw excess funds in your CFD Account provided the Free Equity is more than S$2,000 or no less than 5% of margin coverage, whichever higher. Margin coverage percentage subjected to change at our discretion.

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