Since beginning of this month, the Central Depository Limited, a subsidiary of Singapore Exchange has been allowing those aged 18 and above to open accounts. Previously, 21 or older.
The stock market is a place where minority makes, others can even lose their pants. At the age of 18, do they know anything about risks? Don’t you think they should still be studying ? Probably just enlisted for national service ?
Some parents are worried that at age 18, they are not mature enough to know how "
dangerous" the financial market is.
When the press checked with our local stock broking houses recently, their staff were unaware of the new minimum age for opening a CDP account.
Probably some got a rude shock.
Singapore already are on top of the world in terms of GAMBLING. Others accused Singapore consists only of gamblers, nothing else. Equally famous as our air and seaport. In every turn, there is a 4D or TOTO booth. Soon the Casinos will be in operation. Simple cannot understand why the authorities are encouraging Singaporeans as young as 18 to gamble away their pocket money. Anyone knows the reason ?