DBS Vickers Securities Reviews and Comparison - Seedly
 
DBS Vickers Securities
3.2
17 reviews
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Reviews (17)
3.2
Reviews (17)
3.2
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cash upfront

customer service

lower commission

hold cdp

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mobile app

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  • Posted 3d ago

    Purchased

    DBS Vickers Securities

    Lowest min commission charge of $10 as compared to other banks and its not custodian account! Downside is if were to sell thru DBS Vickers it would be $25 (min commission charge) But as mentioned above its under your own CDP account so I sell through FSM for lower Commission charges. ($10) - Note: Reason why I didnt buy thru FSM even though it's also $10 is because FSM is custodian account. Feel better to hold it in my CDP :)
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  • Posted on 19 Oct 2019
    DBS Vickers has been my first and main brokerage account since 2009. I use the Cash Upfront service which gives lower commissions. I don't do contra anyway so I'm ok to transfer money to DBS Vickers before I do my trade. The customer service is not the best but they do get things done for me.
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  • Posted on 01 Aug 2019
    The worst experience with their call center trash. Extremely unprofessional. It was my first time calling to enquire about a stock I've ordered, and he answered "how many times I need to tell you?" WTF After only using this service for 2+ months, and spending a bulk of my savings, I'm cancelling my account immediately.
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  • Updated on 13 Jun 2019
    Been using DBS Vickers as my local broker. + Easy to use interface + It links to my DBS multiplier account hence every month when I make a trade, it will be counted as a fulfilment to the "investment" requirement to qualify for higher interest rate for my DBS Multiplier account. + Allows you to preview your trades along with the fees before you confirm your trade - App is totally not usable. Cant manage to log in despite multiple attempt. - Fees are competitive to other local brokers but higher than custodian brokers such as Saxo (which i use for my overseas stocks) Overall 4/5!
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    Wen Jun
    Wen Jun

    29 May 2019

    But isn’t there’s a monthly fee for saxo?
    Jacky Yap
    Jacky Yap

    30 May 2019

    Nope there are no monthly fees. only fee they charge is the trading fee: https://www.home.saxo/en-sg/rates-and-conditions/equities-and-etfs/commissions
  • Updated on 20 Feb 2019
    Main advantage over SCB is your local (SG) shares are held by SGX CDP (sense of security). However the brokerage fees are high as the various brokerage firms benchmark against each other. Am not brave enough to use brokers without brick n mortar set-ups like IB (just up and disappear anytime?). Brokerage fees are especially expensive for trading of foreign shares, as no cash upfront option. Cash upfront also not available for joint accounts, which is disappointing as couples may want to build their nest egg together. Agree that customer service can be improved. They hire a bare minimum of headcount, presumably to keep costs low. But with enough perseverance from the customer you can eventually get everything set up n figured out.
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  • Updated on 17 Sep 2018
    I have been using DBS Vickers for a few years now. I use the Cash Upfront account to buy my shares, because it offers one of the lowest commission on the market. Using this platform also helps me increase my returns in my DBS Vickers account. However, the trading platform can be improved by updating its looks and functions. Other brokerage accounts offer apps with much better functions and looks.
    0 comments
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  • Updated on 27 Aug 2018
    I trade mostly shares listed in US, HK and Singapore. Settlement in USD and HKD is a big problem. I have to go down to the branch, queue for an hour at teller at DBS, then the fund take 2 working days to received. Same thing when Vickers transfer to DBS account. Also have to Queue and take 2 days to receive the fund. I understand the Vickers's usd or HKd acccount with DBS. The problem is obvious but no one is solving the issue. The digibank doesnt work too. Very frustrating..
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  • Updated on 19 Jul 2018
    Vickers is generally unfavoured compared to SCB's lower rates, but there are some advantages: - Easy integration with DBS bank accounts - Cash upfront provides low rates for local trades - Decent number of promotions and rebates for active traders - Access to certain exchanges (for example: TSX and US OTC) that the rest don't - Seamless sign up and 24H customer service - So far got free 4X movie tickets to an exclusive screening and buffet for selected traders (guess I've used/paid them a lot) before...was nice!
    0 comments
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Questions (38)

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Stocks Discussion

Investments

ETF

SAXO Markets

DBS Vickers Securities

Hello! It's great that you're looking at ETFs as a way to gain exposure to equities (another word for stocks). ETFs typically allow wide diversification easily. There are a few things to keep in mind when searching for ETFs to invest. 1) The gap between a positive macro-economic trend and stock price returns can be a mile wide. For example, gold was worth A$620 per ounce at the end of September 2005 and the price climbed by 10% per year for nearly 10 years to reach A$1,550 per ounce on 15 September 2015. But an index of gold mining stocks in Australia’s market, the S&P / ASX All Ordinaries Gold Index, fell by 4% per year from 3,372 points to 2,245 in the same timeframe. In another example, see the chart below on the disparity between the stock market returns and economic growth for China and Mexico from 1992 to 2013. Despite stunning 15% annual GDP growth in that period for China, Chinese stocks actually fell by 2% per year; Mexico on the other hand, saw its stocks gain by 18% annualised, despite its economy growing at a pedestrian rate of just 2% per year. So when finding themes to invest in via ETFs, make sure that the macro-economic theme you're betting on can translate into commensurate stock market gains. ! 2) ETFs can mimic the performance of a stock market index through two broad ways: Synthetic replication, or direct replication. Synthetic replication involves the use of derivatives without directly investing in the underlying assets. It is the less ideal way to build an index-tracking ETF, in my view, because there is more complexity involved and hence a higher risk that a large proportion of the underlying index’s performance can’t be captured. Direct replication has two sub-categories: (a) Representative sampling, where the ETF holds only a sample of the stocks within an index; and (b) full replication, which involves an ETF buying the same stocks in nearly identical proportions as the weights of all the stocks that make up an index. Try to look for ETFs that utilise full replication if possible. 3) Look for an ETF that is managed by a reputable fund management company. For example, Vanguard, SPDR, iSHAREs, Blackrock are just some examples of reputable providers of ETFs. 4) Ideally, an ETF should have a listing history of at least a few years, so that we can see how the ETF has actually done, and not just rely on the performance of the underlying index. 5) The expense ratio (essentially all of the fees that an investor has to pay to the provider of the ETF) should be low. There's no iron-clad rule on what "low" means, but I think anything less than 0.3% for the expense ration can be considered low. Having a low expense ratio puts an ETF on the right side of the trend of investment dollars flowing toward low-cost index tracking funds, which lowers the risk of an ETF’s manager closing the ETF down for commercial reasons. 6) The amount of assets under management for an ETF should also be high (ideally more than US$1 billion). Having high assets under managment for an ETF would also lower the chance that the ETF will close in the future. It's not uncommon for ETFs to close. When a closure happens, it creates hassle on the investors' part to find new ETFs to invest in. 7) Lastly, look for a low tracking error. An ETF's returns should closely match the returns of its underlying index. If the tracking error has been high in the past, there's a higher chance that the ETF can't adequately capture the performance of its underlying index.
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DBS Vickers Securities

Investments

Hi Anon, For queries in body text, if quantity filled equals your order size then it means that your order is completed. Share settlement is "T+2" so you will see funds in your account 2 (working) days after trade date

Stocks Discussion

Investments

DBS Vickers Securities

Interactive Brokers

ETF

Chong Ser Jing
Chong Ser Jing
Level 5. Genius
Updated 3w ago
Hi Thum! I assume you're merely looking at DBS Vickers and Interactive Brokers as serving a pure brokerage function to buy/sell the IUSA ETF. If so, there are a few things to compare: (1) What are the trading commissions involved? DBS Vickers has a minimum commission of US$25 per trade for a US-listed stock (I'm assuming here that the IUSA ETF is listed in the US). I'm not sure what the rates are for Interactive Brokers, but it's worth finding out. (2) Are there any custodian fees involved? Typically, Singapore-based brokerages charge a custodian fee if investors own foreign-listed shares. According to DBS Vickers' website, "DBS Vickers will charge a custodian fee of SGD 2 per stock per month and capped at SGD 150 per quarter." Interactive Brokers, if I'm not mistaken, does not charge a custodian fee. (3) How are currency conversions handled by the broker? You might want to find out what the indicative currency conversion rates are like since you'll be using the Singapore dollar to buy an ETF denominated in a foreign currency. Hope this is helpful!

Stocks Discussion

Investments

Multi Currency Cards

Bank Account

DBS Vickers Securities

SAXO Capital Markets

Harvey Tan
Harvey Tan
Level 6. Master
Answered on 19 Oct 2019
Interactive Brokers

FSM One

DBS

DBS Vickers Securities

AMA 1M65

Investments

Chuan Lee
Chuan Lee
Level 2. Rookie
Updated on 12 Sep 2019
Both are about the same for purchasing. However, there is no 'cash upfront' for DBS Vickers, hence costing 25++ to sell your holdings. I'm trying out FSMone for selling since they are able to sell at $10 from those online reviews.

DBS Multi Currency Account

DBS Vickers Securities

Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Updated on 27 Aug 2019
Yup it's pretty straightforward :) You will be able to see a cash amount in your DBS Vickers trading account. And when you make a trade, you can actually check if the trade fees will be $10 which is the correct amount.

Investments

Regular Shares Savings Plans (RSS)

DBS Vickers Securities

STI ETF

ETF

Kenneth Chan
Kenneth Chan
Level 5. Genius
Answered on 25 Jul 2019
1. Regular savings plan have lower front and back loading fee more suitable for DCA. 2. Regular savngs plan have more limited stock options to choose from (presumably "safer" stocks). 3. You do not technically "own" the stock but a unit of it when you buy stocks using regular savings plan.

Stocks

DBS Vickers Securities

Dividends

Investments

CDP will credit the dividends into the bank account you specified during account opening. If you need to change it, there is a form to do so.

OCBC Securities iOCBC

DBS Vickers Securities

AMA Investment Moats

Bank Account

Investments

Kenichi Xi
Kenichi Xi
Level 7. Grand Master
Updated on 07 Jun 2019
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?

Brokerages

DBS Vickers Securities

Stocks

Investments

DBS

Ericsson Ting
Ericsson Ting
Level 4. Prodigy
Answered on 02 Jun 2019
Hi yes,dbs cash upfront is custodian account hence the cheaper fees compare to dbs cash account. it is unlikely to sell the stock in 3 day unlless you are trading,in which case may i suggest that you look into fsmone or standard charter brokerage?
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About DBS Vickers Securities
Product NameDBS Vickers Securities
Stock holding typeCentral Depository Account (CDP)
FeesMinimum: $25 < $50k: 0.28% $50 to $100k: 0.22% >$100k: 0.18%
Cash Upfront OptionMinimum $10 or 0.12% whichever is higher

Types of services DBS Vickers provides

DBS Vickers offers a few types of services on their trading platform.

  • GIRO service offers an automatic and convenient way of debiting payment from credit sale proceeds to designated DBS or POSB bank account.
  • Electronic payment for shares (EPS) feature where investor can conveniently pay for their Singapore shares investment at ATMs or through their iBanking account.

Types of account available with DBS Vickers

DBS Vickers offers various types of account, catered to the different needs of individual investor.

The types of account DBS Vickers provide are:

  • Cash account (online)
  • Cash upfront account
  • Young investor account
  • Investing with Central Provident Fund (CPF)
  • Investing with Supplementary Retirement Scheme (SRS)

Brokerage fees and charges of DBS Vickers

The fees and charges of DBS Vickers are as follows:

Online

  • Minimum Commission: S$25
  • Investment of S$50,000 and below: 0.28%
  • Investment of S$50,000 to S$100,000: 0.22%
  • Investment above S$100,000: 0.18%

By Phone

  • Minimum Commission: S$40
  • Investment of S$50,000 and below: 0.375%
  • Investment of S$50,000 to S$100,000: 0.300%
  • Investment above S$100,000: 0.225%

Other transaction charges:

  • Clearing fee imposed by CDP: 0.0325%
  • SGX Trading fee: 0.0075%

Contact DBS Vickers