Friday, December 02, 2011

Am I certified to trade?

As I logged into my poems account, I saw this screen asking me to do a test. I think it's the new ruling that is going to take effect on 1st Jan 2012. If you do not satisfy certain criteria, you'll be asked to take a test to determine whether you know what you are doing. If you fail, you won't be able to buy (though you can sell your existing holdings, from what I read from the site). I don't know who the ruling is trying to protect - the advisors or the consumers. Anyway, it seems that I do not have to take the test since I had made more than 6 trades with regards to shares. I can't do CFD or unit trust myself though, until I take the test, that is.

Anyway, I would like to take the test and see if I 'know' my stuff or not. It'll be interesting, haha!


Musicwhiz said...

Jialat. I think I made less than 6 trades in the last 6 months. Maybe I don't qualify to be "investment-savvy"? Haiz.

la papillion said...

Hi mw,

Ha! Don't worry, it's 6 trades or more in the last 3 yrs if I recall rightly :) You should have hit that! In fact, I doubt if any of us in the cbox community will have to take the test, unless it's some newbie who just joined in.

It'll be very very interesting if we don't qualify, haha :)

Createwealth8888 said...

My poems login prompt this:

Acknowledging of Risk Disclosure Statement(RDS) before trading OTC/Exchange Traded Leveraged Instruments*

**OTC/Exchange Traded Leveraged Instruments include CFD, CFD(DMA) and ESCs where CFD means Contract for Differences, DMA means Direct Market Access and ESCs means Extended Settlement Contracts

No need for stocks. Why mine is different?

la papillion said...


I've really no idea at all...

SnOOpy168 said...

I was asked to take the test which was administered by SGX. SGX Online Education Programme. becoz i "owned some REITs".

However, my brother a regular player, did not have to.

Did and passed on the 2nd attempt.

Huat ah.

Grey said...

Weow... I passed all;

Createwealth8888 said...

I guess those have good trading history with your respective broker don't need such test.

My OCBC account which is my regular trading account. No such notification message at all unlike poems still have the following

"Acknowledging of Risk Disclosure Statement(RDS) before trading OTC/Exchange Traded Leveraged Instruments*"

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