Monday, September 1, 2008

CIMB-GK $1 commission

In an effort to attract new clients and encourage more trading activities, another brokerage has joined the rank like Lim & Tan in bringing down commission charges to virtually no of charge. CIMB-GK now offers up to eight trades at S$1 commission per trade.

The promotion is applicable to new cash trading account opened with them from 16 August to 31 December. The S$1 commission is applicable to SGX trades executed during the same period.

Thanks to Ku for the alert. I am looking forward to open an account with them. I think the eight trades are enough for me to last till the end of the year. What a great start for those who are about to embark their investment journey with stocks. They get to enjoy lots of no commission charges with their trades during these volatile and uncertain periods.

CIMB-GK $1 commision poster

7 comments:

Ku said...

You're welcome, Mike. Too bad I already own an account with them so I would not get to enjoy the $1 commission trades. :P

Mike Dirnt said...

oh thanks for the unselfish alert even though you already have an account.

keep on sharing! anyway you got other alternatives of earning the comm back :P

ku said...

If you're a trader, you would buy using L&T brokerage (to get reward points) with funds in your CRC account and then sell using your new CIMB account. That would mean eight free full trades (rather than just four, if you take buy+sell = 1 trade using just CIMB). Hehe.
Of course, becoz L&T now takes T+5 (instead of T+3) before they actually deduct your trust account money for a buy trade (and credit your CDP with the shares), you have to make sure that you already own the stocks first before you sell using CIMB or you may face the risk of short-selling.

Mike Dirnt said...

wahah ku you surely have many ways to go around it. the 8 trades are good enough for me. i shall just buy in small sizes for my existing stocks.

i cant wait for the application letter to be mailed to me.

i hope the other brokerage firms can follow to give good commission rates. during these low trading volume days, need good promotion to boost trading activities :P

Anonymous said...

How to contact you so that you can refer me to the brokerage firm? You never leave any contact info...

Mike Dirnt said...

im neither recruiting nor recommending to my dealer.

you can contact CIMB directly to sign up. im just posting the promotion here

Anonymous said...

Hi there! I have read your blog and found it really informative to know more abt stock broking in singapore. currently, i am doing a project on the stock broking industry in singapore. Could u pls share your views on what u think will be the future development of the stock broking industry in singapore? Thank u so much!