No, you do not need a Central Depository (Pte) Ltd account or linkage to trade with Phillip CFD.
For existing Phillip Securities customers, the CFD trading facilities will be opened within three trading days, after their trading representative has signed off on the application form. For new clients, account opening will take around 5 working days.
You will be informed by SMS and email/letter when your Phillip CFD account is activated. Your trading representative will also be informed. In addition, the CFD trading page will be granted full access as compared to the partial access before activation.
There is no maintenance fee or administrative fee for the Phillip CFD account.
Each customer is limited to 1 CFD account per trading representative. However, each customer is at liberty to open 1 CFD account with different trading representatives.