Asked on 23 Mar 2019
I got confused with information on the fees charged on Vickers coming from various sources. Other than the trading fees, I see that there are holding fees, clearing fee imposed by CDP and SGX trading fees. Could somebody be kind to offer a detailed list on the fees charged by DBS Vickers and what these fees are for?
Below is an example of a buy order on Vickers:
Let’s break it down:
Total contract value (TCV): How much your stock cost (number of stocks X your bid value)
Commission: For the bank. “for administrative etc.”
Clearing fee: TCV X 0.0325% (mainly for CDP “to help you transfer and hold your stocks after”)
SGX Trading fee: TCV X 0.0075% (for SGX services)
Total commission & fees: point 2-5
Indicative total: point 1-5.
Do note that this is for cash up front. If you bid through cash, it’s a little costlier.
Fees may change overtime. As rumours has it, clearing fees may be reviewed in 2020.
Suggest that you to calculate the total commission & fees % to see if its worth your bid.
For further details on fees you can read here:
For discussion on what is cash upfront vs cash you can read here:
For selling its similar depend on your option maybe others can pitch in.
Hope this helps.
*Disclaimer: Please perform your own appropriate due diligence
The most important part is the commissions for trading.
Min commission is $25, for cash upfront is $10
The other fees are clearing fee, gst, trading fee. These are only a very small portion.
For me personally, I use $30 as a estimate for a trade