CGS-CIMB iTrade Review

CGS-CIMB Securities International Pte Ltd. (CGS-CIMB) provides institutional brokerage services and wide market access to over 30 global markets. With advanced trading features and an award-winning research team, CGS-CIMB’s online and mobile trading platform iTrade can help you to navigate the market conveniently.

Find out if CGS-CIMB is suited to your investment style in our review.

What is CGS-CIMB?

CGS-CIMB Securities International Pte Ltd (GS-CIMB) is an integrated financial service provider with global presence in over 20 countries. It is a 50-50 joint venture between China Galaxy International Financial Holdings Limited, a wholly-owned subsidiary of China Galaxy Securities Co. Ltd., and CIMB Group Sdn Bhd.

What investments does CGS-CIMB offer?

You can trade the following investments through CGS-CIMB:

• Singapore stocks. Invest in Singapore securities listed on the Singapore Exchange (SGX).
• International stocks. Trade international stocks from exchanges across these 9 countries: Australia, Malaysia, Hong Kong, Indonesia, Philippines, China, Thailand, United Kingdom and United States.
• Equities. Buying or holding a company’s stocks makes you the partial owner of the company. This means that you’re allowed to participate in its growth, vote on certain business matters and decisions. Some equities pay out dividends based on its financial performance.
• Bonds. Bonds are debt securities issued to investors in return for lending their money to the issuer (governments or corporations). In return, the issuer makes regular interest payments and repays the principal to the investor upon maturity. The minimum lot size for bonds starts from S$100,000.
• Exchange-traded funds (ETFs). A diversified portfolio of securities from a range of asset classes and markets that generally aims to track the performance of an index.
• Forex. Trade in one of the most liquid markets in the world on over 30 currency pairs.
• Contracts For difference (CFDs). A CFD is a contractual agreement between two parties to settle the difference between opening and closing price. CFDs allow customers to participate in the price movement of an underlying product without actually owning the asset, which can be a stock, an index, a commodity or more.
• Equity-linked Notes (ELNs). Short term investments that offer the opportunity to purchase stocks of a selected company at a discount from the market price. It may potentially yield higher interest income but comes with a risk of exposure to stock price market movements.
• Daily leverage certificates (DLCs). Stand to gain a fixed leveraged return between 3 to 7 times the daily performance of the underlying index. DLCs are classified as high-risk and complex financial products that offer the flexibility to trade both rising and falling markets.
• Real estate investment trust (REITs). A class of securities that trade like stocks on a securities exchange and typically generate income through a portfolio of real estate assets, which typically distribute income at regular intervals. The underlying assets of a REIT could include commercial, retail, industrial and residential properties located within a specific country or region.
• Structured warrants (SW). Issued by third-party financial institutions, a structured warrant is a type of option that allows investors to gain leveraged exposure to the underlying security without actually owning it. Structured warrants can either be the stocks of an unrelated company, a group of companies’ stocks or an index. They may also be used as a hedging tool.
• Margin Facility. CGS-CIMB’s margin financing facility allows you to maximise on your trading opportunities with up to 14 interest-free days.
• Securities borrowing and lending. Take advantage of investment opportunities for covered short selling, arbitraging and hedging.

Key features of CGS-CIMB

Navigate the markets and trade with ease through the features available on CGS-CIMB iTrade online trading platform:

• Multiple account access. Manage all your Cash Trading account, Cash Upfront Trading and Margin Trading account with a single login.
• Multi-layout function. Customise the platform layout based on your preferred font style, shortcut keys and layouts.
• Multi-language support. iTrade is available in both English and Chinese.
• Extensive technical analysis charts. Make more informed trades with 77 pre-built indicators, drawing capabilities and stock comparison across various markets.
• Comprehensive fundamental data. Access financial information and management commentary on listed companies such as quarterly or annual statements, press releases or other public venues.
• Intuitive trading tool. Take advantage of advanced tools powered by CGS-CIMB’s Fintech partners: iScreener, iBillionaire, iFilter, Fundamental Reports, Stock Filter and more.
• Research reports. Gain professional opinion of the prospect and the market environment surrounding each stock through related news and research on ReportsGain.
• Global market access. Trade in five Asian and three US markets conveniently through a single platform.

What research does it provide?

CGS-CIMB provides comprehensive coverage of over 800 stocks in regional markets, which includes economic, regulatory as well as political developments. With the daily in-depth research reports and market insights, investors can stay up-to-date with of the latest developments in the respective markets and make better informed trades.

However, access to CGS-CIMB Research is only exclusive to CGS-CIMB clients, so potential investors will not be able to preview the quality of research before signing up.

Types of accounts offered by CGS-CIMB

CGS-CIMB offers different types of accounts with varying features:

What are CGS-CIMB’s pricing and fees?

You’ll pay brokerage fees when you trade financial products using CGS-CIMB iTrade Online/Mobile or through a broker. You’ll be charged varying commission depending on you account type and how your trade is conducted.

Here are CGS-CIMB’s brokerage fees for trading stocks on SGX (traded in SGD):

Fees are accurate at the time of writing (15 June 2020).

All transactions are also subject to CDP imposed clearing fee (0.0325%), SGX trading fee (0.0075%), SGX settlement instruction fee ($0.35 per contract) and GST. Check the full commission and charges on CGS-CIMB’s website.

Is CGS-CIMB iTrade safe?

CGS-CIMB Securities (Singapore) Pte. Ltd holds a Capital Market Service License issued by the Monetary Authority of Singapore (MAS) and comply with all measures to keep its clients’ funds segregated and safe.

To prevent your account from unauthorised access, iTrade encourages its users to activate a two factor authentication (2FA) on top of the current username and password. This extra layer of security identity verification comes in the form of a One-Time Password (OTP) that is either generated on your OneKey token or sent to your registered mobile number via SMS.

Data exchange between your computer and iTrade website is also protected with 128 bit Secure Socket Layer (SSL) encryption technology.

Pros and cons

How do I sign up for a CGS-CIMB iTrade account?

You may sign up for a CGS-CIMB account as long as you’re 18 years old and above, not an undischarged bankrupt and has no delinquent records with any stockbroking companies in Singapore. To apply, simply click on the ‘Register’ button on the CGS-CIMB iTrade website to proceed.

Do note that foreigners may be required to open a Trust Account for settlement of stocks transactions.

Required documents

• Singaporean/PR: Front and back photocopy of your NRIC (or SAF identity card, SPF identification card or passport)
• Malaysian: Front and back photocopy of your Malaysian IC or valid passport
• Other nationality: Passport with at least 6 months validity and proof of residence (e.g. bank statement or utility bill reflecting your name and residential address)

Bottom line

Like many other major banks’ brokerage arm in Singapore, CGS-CIMB allows you to trade securities across various global exchanges from its online and mobile trading platforms. Its fees and commission rates are also similar to those charged by its competition. But in terms of its range of stock markets, CGS-CIMB offers a slightly smaller mix compared to brokerage such as DBS Vickers and POEMS.

Before applying for a CGS-CIMB trading account, make sure to compare your options to see if this trading platform is most suitable for you

Frequently asked questions

• What should I do if I've lost or locked out of my CGS-CIMB iTrade account

  If you’ve lost or forgotten your account password, simply click on ‘Forgot Password’ in the iTrade’s main page of to reset your password. Once you’ve done so, you’ll receive a reset password link via email. Do note that this feature is only available for traders with a Singapore registered mobile number and valid e-mail address on the platform’s records.

  If you’re unable to reset your password through email, or require assistance on your User ID, please contact the customer service at 1800 538 9889 from Monday to Friday between 8 am to 6 pm.

• What are the available payment modes?

  CGS-CIMB accept the following payment modes for trades:

  • GIRO service
  • Electronic Payment for Shares (EPS)
  • Internet banking
  • Multi-currency trust account
  • Telegraphic Transfer (TT)
  • Cheque
  • Cash
  • Phone banking bill payment facility

  However, it’s advisable to arrange for payments via EPS or GIRO for your trading convenience.

• Can I increase my trading limit?

  Yes, you may request for a review of your trading limit by contacting your Trading Representative. The relevant documents for credit assessment include:

  • Latest CDP monthly or quarterly statements
  • Latest bank account statements
  • Latest fixed deposit statements

  Alternatively, you can also arrange to deposit extra funds to your CGS-CIMB Trust Account to support the review.