Brokers Investing

Cheapest Way To Sell Shares From Your CDP Account

In my post about how to enjoy DBS Vickers’ Cash Upfront preferential commission rate, I mentioned that that’s the best way to buy CDP-owned shares.

With a commission fee of only $10, it is the cheapest way to own shares in your CDP account under your own name.

However, this only applies to buying shares. What about when you want to sell them?

The commission fee for selling shares on DBS Vickers is $25. While it’s a fairly standard price, it’s higher than what I’d like to pay.

Thankfully, there’s a cheaper way to sell your CDP-owned shares.


FSMOne is an online broker that you may have heard of before. 

Before low-cost brokers like Tiger Brokers and Moomoo came into the picture, FSMOne was one of the best online brokers to use because its fees were significantly lower than bank brokers. 

However, its popularity as a broker has since dwindled because its fees aren’t nearly as low as the likes of Tiger and Moomoo.

There are still some use cases for FSMOne, and one of them is to enjoy a low commission fee for selling CDP-owned shares.

As with most online brokers, FSMOne uses custodian accounts to hold stocks and ETFs. 

But what makes FSMOne stand out is that it allows you to link your CDP account to your FSMOne account, enabling you to sell your CDP-owned shares from your FSMOne account.

This means that the fees you’ll incur for selling your CDP shares in this way are the same fees you’ll incur for any sell order on FSMOne.

There are 3 brokers in Singapore that allow you to link to your CDP – DBS Vickers, FSMOne, and POEMS cash management account. 

Below is a comparison of their relevant fees for sell orders.

Broker Minimum Fees
FSMOne $8.80
DBS Vickers $25

As you can see, FSMOne has the lowest commission fee by far, which can go a long way in helping you save costs to maximise returns from your investments.

Note that aside from the commission fee charged by the broker, there are other costs that are applicable regardless of broker, including:

  • 0.0325% SGX clearing fee
  • 0.0075% SGX settlement fee
  • $0.35 SGX settlement instruction fee
  • 7% GST on total fees

Example: Selling Netlink Trust 

For the sake of comparison, the fees for selling 1000 units of Netlink Trust (CJLU) @ $0.955/unit is $10.21 on FSMOne.

fsm sell order

Meanwhile, the fee for the same order is $27.16 on DBS Vickers.

dbs vickers sell order

How To Link CDP To FSMOne

Step 1:

Before you link your CDP account to FSMOne, you need to open an FSMOne account. You can do this via their website.

If you don’t already have a code to use, you can enter “P0454962” when you create your account. It doesn’t cost you anything, but it goes a long way in supporting me. Thank you! 

Step 2:

After your account has been opened, log in and navigate to “Account Settings” > “Sell From CDP”.

fsmone link cdp

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Step 3:

On the next page, enter your CDP account number and click submit to link your CDP account to your FSMOne account. 

fsmone cdp link form

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It will take 1-3 business days for this to be completed and you will receive an email confirmation after successful linkage.

Step 4:

After receiving the email confirmation, you should verify that your CDP account has indeed been linked to your FSMOne account.

You can do so by navigating to “Account Settings” and noticing that that “Sell From CDP” is now activated, denoted by the tick.

fsmone link cdp

How To Sell From CDP On FSMOne

After successfully linking your CDP account, you’re ready to sell your CDP shares with your FSMOne account.

Step 1:

Navigate to “Live Trading” and search for the stock you wish to sell.

fsmone live trade

Step 2:

Click “Sell” on the stock you want to sell to open the Order Pad. Enter the trade details and select “Sell from CDP”.

fsmone sell from cdp

Important: Before you place an order to sell from your CDP account, check and confirm that you have sufficient shares in your CDP account. If you don’t, it may result in accidentally shorting the stock, which can cause you to suffer losses.

Closing Thoughts

If you have shares in your CDP account that you wish to sell, doing so via FSMOne will incur the least amount of fees, allowing you to keep as much of your returns as possible.

The process is simple, but be sure to check that you’re selling the correct stock and only in amounts that you own in your CDP account to avoid making the potentially fatal mistake of shorting the stock.

Do you own shares in your CDP account? Will you sell them via FSMOne? Let me know in the comments below!

8 replies on “Cheapest Way To Sell Shares From Your CDP Account”

Thanks for this article. I’ve used your referral code to open a FSM to sell Cdp shares as my current poems account selling fee is a tad high.

Hey Pete,

Thanks for checking out my blog and leaving a comment!

As far as I’m aware, the only platform fee that is applied on FSMOne is for funds and bonds investments. Other than that, there should be no other hidden fees.

After opening FSMOne accounts, do i need to transfer some money to it before i can sell my share in CDP account ?

1) can i also link and trade shares in my SRS account with FSM?

2) just to confirm on item 1 above ,will the proceeds from either buying or selling goes back to the SRS account directly?

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