Dadacai
:
Moomoo is a custodian account. Moomoo will hold the shares on your behalf. This is no different from SCB, FSMOne etc where Singapore stocks are concerned. For overseas stocks, they are always held in custody and not CDP, regardless of which broker you use.
Dadacai
:
Futu is basically a custodian/nominee account, so Singaporean stocks purchased on the Futu platform will not appear in CDP. Whichever securities company buys overseas stocks is custodian; there is no possibility that they will be stored in CDP. According to the regulations of the Monetary Authority of Singapore, customers' stocks and cash must be isolated from Futu's assets.
102746827
:
That means if anything should happen to moomoo your shares are gone? Cos for the other brokerages including tiger, SG shares are held by CDP.
leon5656 : That's how it should be. So there's a certain risk.
Ashish Barman : i reckon yap
Dadacai : Moomoo is a custodian account. Moomoo will hold the shares on your behalf. This is no different from SCB, FSMOne etc where Singapore stocks are concerned. For overseas stocks, they are always held in custody and not CDP, regardless of which broker you use.
Dadacai : Futu is basically a custodian/nominee account, so Singaporean stocks purchased on the Futu platform will not appear in CDP. Whichever securities company buys overseas stocks is custodian; there is no possibility that they will be stored in CDP. According to the regulations of the Monetary Authority of Singapore, customers' stocks and cash must be isolated from Futu's assets.
102746827 : That means if anything should happen to moomoo your shares are gone? Cos for the other brokerages including tiger, SG shares are held by CDP.