STI futures can be bought and sold through SGX Derivatives Trading member broking companies, as well as your regular stockbrokers and/or remisiers licensed to market futures.
You may need to check with a few brokers before making your selection. Information that you should ask for includes: (1) the minimum capital required and how many contracts you will be allowed to trade with such capital; (2) broking commission; and (3) type of broking services provided.
Only when you are comfortable with your choice should you open an account.
For instance, the minimum capital required to open a futures account at Phillip Futures is $3,000.
For retail investors, the per transaction commission is around $12 for e-trading and $18 for call-in. Commissions may vary across the broking houses. The GST applies in both types of fees.
To open an account, you must complete two sets of documents and furnish the capital required before you start trading.
The first document is the Account Agreement Form for you to fill in your particulars, account information and operating procedures. The second is the Risk Disclosure Document required under the Securities and Futures Act.
To begin trading, you must deposit cash with your broker. Although SGX establishes the margin levels, your broker may have higher requirements than those set by the exchange.
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