I'm looking to switch brokerages from OCBC Securities to DBS Vickers. Anybody with experience to share?

I've been using OCBC Securities for investment purposes but am considering using DBS Vickers for lower fees. What do I need to do to perform this switch? Currently, my shares are reflected in OCBC. Is there a way to transfer them so that it will be reflected in DBS? Also, how will this affect my CDP account?

DBS Vickers Securities

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Discussion (8)

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John Huang

27 Oct 2020

DBS Vickers win OCBC securities by many miles. I feel that ocbc does not have good app for either banking nor securities. One simple but important difference is between SMS OTP and Hardware token, OCBC securities allow ONLY one verification method after you have successfully entered account id and password. So if your sms delays or fails, there is no alternative for verification. DBS Vickers are better in apps. They allow both method of verification. DBS is much better. DBS Ibanking app wins iOCBC by many miles too. That is if we compare only dbs and ocbc.

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Eric Tan

13 Jan 2020

Hi,i have written a guide on how to purchase stock using dbs vickers,hope the below guide helps!

(Post 63/week 50)Learning investing/trading together part 8:How to purchase a stock?(DBS vickers)

(Post 64/week 50)Learning investing/trading together part 9:How to purchase a stock part 2?(DBS vickers)

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Jacques June Deschambeault

08 Jul 2019

Why oCBC no good? U mine sharing, lol.... Wanted to change to them...

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Kenichi Xi

07 Jun 2019

nᴉʍ oʇ dǝnᴉʇsǝd 不能说的秘密 at Tag Team with Gabriel Tham

Most Stock Brokerage Account are linked to One CDP account.

That's make buying and selling possible with different brokerage and for you will be OCBC and DBS.

The only downside is transactions are not updated on the brokerage side if the buying and selling are not from the same brokerage.

At all time, you should login to your CDP account to check your holdings.

The downside about CDP is the pricing on average up or down is not reflected accurately so you can refer to the existing pricing reflected in your OCBC account before you delete any records from your OCBC portfolio record.

From there, you can use the record you confirmed and type it into DBS portfolio record.

Bear in mind you should delete the record which are redundant or are sold off by the different brokerage you used.

In an event, you saw x shares in OCBC portfolio but you already sold off x shares using DBS portfolio.

And if u sell the x shares with no x shares in CDP, it will be classify as short selling and you will be fine by SGX after paying the losses or receive the gain (unlikely) in the process.

我是不是很棒棒？

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