Holding stocks in CDP and a custodian account? Here’s how Moomoo’s CDP Transfer-In works

This post was created in partnership with Moomoo Singapore. All views and opinions expressed in this article are Beansprout's objective and professional opinions.

What happened?

If you invest in both Singapore and overseas stocks, your investments may be held across several accounts.

Your Singapore stocks could be held directly in your CDP account, while your US stocks and ETFs may sit in a brokerage custodian account. 

That is not necessarily a problem. But managing investments across separate accounts can mean switching between platforms to check your holdings, while dividends and sale proceeds may also need to be managed separately before you reinvest elsewhere.

Moomoo Singapore has introduced a CDP Transfer-In feature that allows investors to transfer eligible SGX-listed securities from their CDP account into their Moomoo custodian account.

But transferring your shares out of CDP also changes how they are held. So before making the switch, it is worth understanding what you gain and what you give up.

In this article, I look at how Moomoo’s CDP Transfer-In works, how much it costs, and what I would consider before transferring shares.

CDP linkage vs transfer-in: What’s the difference? 

Moomoo already allows investors to link their CDP account and trade eligible SGX-listed securities through a CDP-linked account, while keeping the shares held directly in CDP.

With CDP linkage, your existing CDP holdings generally remain separate from the investments in your Moomoo Universal Account and may still need to be viewed through the SGX Investor Portal. Dividends are also generally paid into your CDP-linked bank account.

CDP Transfer-In changes this because the shares themselves are moved into your Moomoo Universal Account.

Once transferred, your Singapore holdings can sit alongside other investments held through Moomoo in one portfolio view. Dividend information and sale proceeds can also be managed within the same account.

Eligible holdings may also contribute towards margin buying power, although this involves borrowing and comes with interest costs and leverage risk.

Moomoo AI can also analyse portfolio information held within the platform. This is a broader Moomoo feature rather than something unique to CDP Transfer-In, but bringing more holdings into the same account may give it a more complete view of your Moomoo portfolio.

How Moomoo’s CDP Transfer-In works

#1 – You can transfer all or selected CDP holdings

With CDP Transfer-In, eligible SGX-listed holdings are moved from CDP into your Moomoo Universal Account. 

This means the shares are now held through Moomoo's custodian structure rather than directly in CDP.

You also do not have to transfer everything. Moomoo allows you to choose between:

• Full transfer: Transfer all eligible securities from your CDP account.
• Partial transfer: Select the specific stocks and quantities you want to move.

This means you do not have to move your entire CDP portfolio at once. You can transfer selected holdings while leaving others directly in CDP.

Not all CDP holdings are eligible for transfer. For example, Singapore Savings Bonds, suspended or delisted securities, and frozen holdings cannot be transferred. 

If you choose a full transfer, ineligible securities will remain in your CDP account.

#2 – Trading fees may be lower in the custodian account

One of the more tangible differences is the trading fee you pay after your shares have been transferred.

Here is how the commission and platform fees compare for a S$1,000 Singapore stock trade through Moomoo:

For smaller trades, minimum fees can make up a larger proportion of the amount invested. 

This means the difference in trading costs may be more relevant if you trade smaller amounts or rebalance regularly.

#3 – Put idle cash to work with SmartSave

After your shares are transferred into the Moomoo Universal Account, dividends and sale proceeds are credited within the account rather than to your CDP-linked bank account.

With SmartSave, uninvested SGD and USD cash in your Universal Account can be automatically invested into selected Moomoo Cash Plus money market funds.

Cash Plus holdings may contribute towards buying power and can be automatically redeemed when funds are needed for trades.

Do note that money market fund returns are not guaranteed and can change with market conditions.

Moomoo also provides information such as historical dividends, upcoming ex-dividend dates, and a dividend calendar, which can make it easier to track income across dividend-paying stocks and REITs held on the platform.

#4 – Move between Singapore and overseas investments more easily

If you sell a share held in CDP, the proceeds are credited to your CDP-linked bank account. 

To use that money to invest in another market through Moomoo, such as US stocks or ETFs, you would first need to transfer the funds into your Moomoo Universal Account.

After transferring your Singapore holdings into the Universal Account, the proceeds from a sale remain within the same account used to trade investments across markets.

This removes one step if you regularly rebalance between Singapore and overseas investments.

You may still need to account for settlement times, currency conversion, and applicable trading costs when investing across markets.

What should you consider before transferring your CDP holdings?

While transferring your CDP holdings into Moomoo may make it easier to manage your investments across markets, there are also a few trade-offs to consider.

#1 – How you prefer to hold your Singapore shares

When shares are held in CDP, they are registered directly under your name. Dividends are paid to your linked bank account, shareholder notices come directly to you, and the holdings are not tied to a single broker.

After transferring to Moomoo, the shares are instead held through its custodian structure and you remain the beneficial owner.

This also means processes such as voting, AGM participation, and certain corporate actions may be handled through the custodian rather than directly through CDP.

#2 – A custodian account uses a different safeguarding structure

Moving shares out of CDP does not mean they become Moomoo’s own assets.

Moomoo SG is regulated by MAS and states that client assets are safeguarded separately from the firm’s own assets. Singapore-listed securities are held through CDP under Moomoo’s depository agent arrangement.

The key difference is therefore direct ownership through your personal CDP account versus beneficial ownership through a custodian. 

If you select a full transfer, Moomoo will automatically leave ineligible securities in your CDP account.

#3 – Transferring your shares out again can add up 

Moomoo does not currently charge a fee for transferring eligible CDP holdings in and covers the applicable CDP transfer-in charges.

However, transferring Singapore stocks from Moomoo back to CDP currently incurs a Moomoo handling fee of S$100 per stock per transfer, in addition to a S$10 CDP charge per stock.

If you transfer several counters and later decide you want them back in CDP or another broker, these costs can add up.

How to transfer Singapore stocks from CDP to Moomoo

Moomoo's CDP Digital Transfer allows you to submit the transfer through the app without printing or submitting physical forms.

At a high level:

1. Go to Accounts > More > CDP Share Transfer in the Moomoo app

2. Enter your 12-digit CDP account number and select your Moomoo Universal Account as the receiving account.

3. Verify your personal information.

4. Select CDP Digital Transfer.

5. Choose between a Full Transfer or Partial Transfer.

6. If you are making a partial transfer, select the securities and quantities you want to transfer.

7. Review the transfer details, electronically sign and submit your request.

See the full steps here

For CDP Digital Transfer, Moomoo states that the process typically takes around three to five business days.

There is no transfer-in fee charged by Moomoo, and Moomoo currently covers the relevant fees charged by CDP.

Do avoid trading the securities being transferred through your CDP account while the transfer is being processed, as this could cause the transfer to fail.

What would Beansprout do?

For me, the decision comes down to whether I value direct CDP ownership or the additional features that come with holding the shares in moomoo’s Universal Account.

If I want my Singapore shares registered directly under my name and prefer to keep them accessible through CDP, I may choose to leave them there and use moomoo’s CDP-linked account when I trade.

Transferring them into moomoo may be more relevant if I value the lower custodian trading fees, having my Singapore and overseas investments in one portfolio view, and managing dividends and sale proceeds within the same account.

I may also find features such as SmartSave, moomoo’s dividend tracking tools and portfolio analysis through Moomoo AI useful once more of my holdings sit within the platform.

Against that, I would consider how important direct CDP ownership is to me, how shareholder rights and corporate actions are handled through moomoo’s custodian structure, and the cost of transferring the shares back out later.

Ultimately, moomoo’s CDP-linked account lets me trade while keeping my shares in CDP, while CDP Transfer-In brings the holdings themselves into the Universal Account and gives me access to a more integrated set of portfolio-management features.

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Get additional rewards when you transfer your CDP holdings

Moomoo is also running a separate Transfer-In promotion, with rewards based on the value of your first successful transfer.

For example, a transfer of at least S$10,000 currently qualifies for 2 × S$50 trading cash coupons, while higher transfer amounts qualify for larger rewards.

If your first transfer is from CDP and is worth at least S$10,000, you may also receive additional CDP Transfer-In benefits, including:

• an S$88 trading cash coupon
• a 365-day SG stock commission-free card
• one lucky draw chance, subject to the applicable campaign period

And rewards are generally unlocked only after maintaining the required net deposit amount for at least 90 days

Do check the latest promotion terms before transferring, including the minimum transfer amount and any asset-maintenance requirements.

Learn more about Moomoo’s CDP Transfer-In promotion

Disclaimers

*T&Cs and other fees apply. Investments in capital market products involve risk. Full disclaimers at www.Moomoo.com/sg/support/topic5_510. Moomoo Singapore is the sponsor of this content.. This content is for informational purposes only, does not constitute financial advice, and reflects Beansprout's independent opinion. Please conduct your own research and invest according to your personal risk tolerance. 

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