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if you use poems, open also with poems CFD Direct Markets (CFD Direct Markets, there is two types CFD & CFD Direct Markets)
next and last important to protect yourself SBL - Share Borrowing Loan.
SBL how it protect is lets say you bought 3 lots on that day, and you forgot about it. Then when you sold the shares you sold accidentally sold 5 lots instead of 3 lots!
Next day, your broker calls you and tells you that you sold 5 lots instead of 3 lots. You have shorted the SGX market by 2 lots, breaking SGX rules no shorting unless it is CFD or SBL.
Shorting means you sold shares that you have never bought. So you buy 3 lots you have to sell 3 lots. and not 5 lots. but this is an accident so how....
SBL....you borrow from the brokerage that is poems using SBL. They lend to you with interest and commission 2 lots and closed the opening at SGX.
LIKE THAT YOU DON'T HAVE TO APPEAL TO SGX AND SGX DO NOT HAVE TO FINE YOU 1000 PER CONTRACT.
CFD IS let say market is really really bad & stocks from 4.60 falls to 1.30. if you have a CFD (Direct markets) you bet the stock from 4.60 will drop to 1.30, you win
you collect the difference 4.60 - 1.30 = 3.30 per share. each lot is 1000 x 3.30 you will have in your account $3,300.00. but you have to pay brokerage and interest so deduct that it may come to $3,000.00.
CFD Direct markets sell the stock and buy back when the stock falls to a very low price.
Example: Sing Tel the stock open and when up to $4.60 then it fell to $2.60. If you had CFD then you made on the difference of $2.00. best was in Jan Singtel was at $3.30 and it fell to $2.65, when the announment came that Singtel and Starhub had to share and that Singtel.
If you dont bet it is a ACTION !
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