Cash Boost Account with CDP linkage. What's the big deal?
Hey Tigers,
By now you should have heard of the latest feature introduced to our Cash Boost Account!
Yes, we are referring to CDP linkage now made available on Cash Boost Account.
What's Cash Boost Account?
In case you haven't realised, you can now do contra trading on the Tiger Trade APP via our Cash Boost Account.
Contra trading is a method where investors buy or sell securities not with the intention of settlement. Without the need to deposit capital in advance, you can trade within the limit. Profits can be withdrawn within the specified time if gains are made; if there is a loss, the amount lost must be deposited.
Confused? Let's break it down for you.
Assuming you spot an investment opportunity today, but you're not able to exercise your existing funds to make that investment purchase. Traditionally, you may have to sit out on this investment chance.
With Cash Boost Account, you'll receive a trading limit of SGD 20,000 (upon account approval), which you'll be able to use to make trades on stocks/ETFs in SG/HK/US markets! In CBA, stocks you've purchased on T+0 can be sold anytime before OR on the Force Selling Date.
If the difference is positive, you can keep it as a profit! If you make a loss, you'll need to make the payment into your CBA.
In short, you can now Trade Now, Settle Later!
Summary of Cash Boost Account's perks
Buy up to SGD 20,000 or beyond as soon as your account gets approved. No pre-funding required.
High capital utilization while allowing you to capture market opportunities.
Enjoy interest free period until the 8th trading day*
*Interest-free period: until the 8th trading day for SG & HK markets, and until the 7th trading day for US market.
Contra Trading: No need to fund the full settlement amount, simply sell before force-selling date and pay the difference between your buy & sell trades.
Supports trading of stocks and ETFs for Singapore, US and HK.
CDP linkage - sell SGX stocks and ETFs using the "Sell From CDP" feature!
Which brings us to our next (and most important) point. CDP linkage!
You can now link your CDP Securities account to your Cash Boost Account!
The Central Depository Account, or generally referred to as CDP, is an account that holds all the shares you purchased on the open market safely. A CDP, run by the Singapore Stock Exchange (SGX), serves as a security for all of your stocks.
This means that you can now sell your SGX counters via our Tiger Trade APP! Yes! Big news yea?
What's even better is the current promotion. Enjoy 0 Commission* on SGX listed stocks from now till 31 October 2024. On top of this, you can even stand a chance to win a staycation at the Fullerton Hotel (worth SGD 700*).
For more information, visit our campaign webpage! *T&Cs apply.
Lastly, don't say bojio. Open a CBA today and stand to win up to 20 Nvidia shares when you complete the tasks. Find out more here.
Other helpful links:
How to open a CBA: link here.
How to link your CDP account: link here.
Other FAQs on CBA: link here.
Cash Boost Account Website: link here.
Run, don't walk. Open your Cash Boost Account today and tap into new opportunities.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
