CGS-CIMB iTrade Review

Access and trade a wide array of securities listed on over 30 global markets.

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.

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Quick verdict

Good for
  • Trusted brokerage
  • Advanced data, charting and monitoring tools
  • Online and mobile trading platforms
Not so great for
  • Range of global exchanges

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.

      For more sophisticated traders, CGS-CIMB’s iTrade Pro comes with a suite of advanced trading features as follows:

      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:

      Account TypeKey Features
      Cash Trading Account (CTA)
      • One account for transactions across different markets.
      • Foreigners may be required to open a trust account for settlement of stocks transactions.
      Cash Upfront Trading Account (CUT)
      • Cash upfront (prefunded) account
      • Trade equities-listed counters on:
        • Singapore Exchange (SGX)
        • Hong Kong Exchange (HKSE)
        • US Exchanges (NASDAQ, NYSE and AMEX)
      • Trading limit is based on account’s available balance.
      • Commission rates for CUT trades on:
        • SGX: 0.18% (minimum S$18)
        • HKSE: 0.18% (minimum HK$88)
        • NASDAQ/NYSE/AMEX: 0.18% (minimum US$18)
      • Lower online brokerage rates for SGX and other markets.
      • SGX stocks purchased using CUT will be kept in CGS-CIMB’s CDP sub account and can only be sold through CGS-CIMB.
      Margin Trading Account (MTA)
      • Trade with direct access to multiple key financial markets.
      • Requires a Cash Trading Account (CTA)
      • Boost your investments in stocks:
        • Using cash and/or marginable securities as collateral
        • For Singaporeans/PR: Trade up to 3.5 times of your cash deposit or 2.5 times the value of your collateral
        • For Foreigners: Trade up to 2.66 times of your cash deposit or 1.66 times the value of your collateral
      • Select either a flat or grade-based interest rate scheme according to the types of securities in your portfolio.
      • 14 days interest-free period on trades settled in SGD from the purchase due date.
      • Ability to settle your trades in Singapore Dollars, Hong Kong Dollars and US Dollars.
      • Contra trading allowed.
      Securities Borrowing Account (SBL)
      • A loan facility that allows traders to meet the delivery of a short-sale or participate in arbitrage or hedging activity.
      • Requires a Cash Trading Account (CTA)
      • Borrow up to 2 times of the furnished collateral value.
      • Applicable fees:
        • Borrowing fee: 8% p.a. on the Daily Market Value of the securities borrowed for a minimum of 2 days.
        • Administrative charge: S$40 per counter/borrowing request.

      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):

      Contract valueOnlineCash-UpfrontBroker-assisted
      Minimum commissionS$25S$18S$40
      S$50,000 and below0.275%0.18%0.50%
      Above S$50,000 – S$100,0000.22%0.18%0.40%
      Above S$100,0000.18%0.18%0.25%

      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

      Advantages

      • Wide range of asset classes. Trade variety of securities listed on exchanges across 10 countries.
      • Advanced tools. Whether its platform customisation, charting tools or stock screening, iTrade comes with state-of-art features to ease your trading process so you can focus on making better informed investments.
      • Multiple trading platforms. CGS-CIMB offers different platforms to suit varying needs, namely iTrade that is suited for most users, iTrade Pro for advanced traders and a mobile app for on-the-go trading.

      Disadvantages

      • Limited global exchanges. CGS-CIMB only facilitates trades from markets in Singapore (SGX), Malaysia (Bursa) Hong Kong (HKEX), Thailand (SET), Indonesia (IDX), Shanghai (SSE), Shenzhen (SZSE), Vietnam (VN) and the United States (Nasdaq and NYSE ). This is a smaller pool compared to its competition, such as DBS Vickers and POEMS.

      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.

      Central Depository (CDP) Account

      To start investing in the Singapore securities market, you’ll need to open a Central Depository (CDP) account. Make sure to open a CDP account online before proceeding to open an iTrade account as you’ll be required to provide your CDP account number during the application.

      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)

      How do I contact support?

      If you have any enquiries, you may reach CGS-CIMB iTrade directly through the following contact details:

      • Hotline: 1800 538 9889 or +65 6538 9889 (available from Monday to Friday between 8.30 am to 6 pm)
      • Night desk (US Trading): +65 6232 5888 (available from Monday to Friday between 9.30 pm to 4 am)
        • Email: clientservices.sg@cgs-cimb.com
        • Main Office: 50 Raffles Place, #01-01, Singapore Land Tower, Singapore 048623

        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.

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        Frequently asked questions

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        Important information: Powered by finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.

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