DBS Vickers Securities Reviews and Comparison - Seedly
DBS Vickers Securities
3.3
14 reviews
Read more reviews of online brokerages
Reviews (14)
3.3
Reviews (14)
3.3
  • 5
    0
  • 4
    7
  • 3
    5
  • 2
    1
  • 1
    1

Most Helpful

  • Most Helpful
  • Most Recent
  • Low to High
  • High to Low
  • 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
    2
  • Updated on 20 Feb 2018
    I have been on DBS Vickers for about 6 months, mainly trading REITs! It’s been ok. Chose it mainly for the cash upfront $10 min per trade and CDP holding (rather than custodian). Also i’ve been a DBS customer since I was in my mother’s womb. -.- Pros: -Easy to use to buy/sell -SMS and Email notifications when trades are filled or expired -Interface is clear and watchlist function works well Cons: -Damn difficult to login to access for the cash upfront account side -App is kind of non-existent (doesn’t work with cash upfront, unless I’m missing something here) haha -Onboarding was really tiresome and I had to open up and fill multiple forms (guess its the same for many) Been thinking to switch to FSM also, after doing a lot of research on the mobile app, web interface and also the fees which are considerably low. Anybody with advice and feedback from FSM ONE? :)
    0 comments
    2
  • Updated on 31 May 2018
    I opened my Vickers online trading account recently. It was very convenient to open it using iBanking since I already have a Multiplier account and a CDP account. My first 3 trades are free as part of the account opening promotion. However I'm not very sure about the customer service as they were not very speedy when I emailed them. Also, the app doesn't have the option for cash upfront, but I realised I could just use my mobile browser to make cash upfront trades. Overall, there is a lot of room for improvement but I'm still a satisfied customer.
    0 comments
    1
  • Updated on 21 May 2018
    Use DBSV for the easy access to ibanking on DBS/POSB. New comers to this landscape and find the website hard to use, not welcoming for newcomers and hard to understand each terms and what it does. Called CSO and find their service ok. If only they could make it more user friendly with lots of tool tips to explain the usage and features of each items / selections. On boarding is also a pain, had to fill up at least 10 to 15 pages and forms and agreement here and there... such a pain .. Hope the future of trading using the platform can be easier as I learn more and hope more guides about how to on the tools can be make available.
    0 comments
    1
  • Updated on 10 May 2018
    This is probably the worst app i’ve used. The poor UI/UX on both mobile and web gives me anxiety about using the platform. I had issues such as not being able to view my SG Stocks and had constant difficulty getting through to its customer service. The only small advantage it has is that it is linked to your DBS account. I won’t recommended anyone to use this.
    0 comments
    1
  • Updated on 20 Feb 2018
    Been using DBS Vickers for years now. Only used cash upfront to trade. Pros: Cheapest in terms of cash upfront Stocks bought using cash upfront is credited into your personal cdp Notifies me about my orders getting filled Cons: User experience can be improved on the platform More rooms for improvement should they wish to encourage newbies to trade.
    0 comments
    1
  • 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!
    3 comments
    0

    See all 3 comments

    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.
    0 comments
    0
Questions (31)

Recent Activity

  • Recent Activity
  • Unanswered
  • Trending

OCBC Securities iOCBC

DBS Vickers Securities

AMA Investment Moats

Bank Account

Investments

Kenichi Xi
Kenichi Xi
Level 6. 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 3. Wonderkid
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?

Investments

DBS Multiplier

DBS Vickers Securities

Savings

Bank Account

LC
Lee Chun Chuan
Level 2. Rookie
Answered on 04 Jun 2019
I think the issue is that if you have a multi-currency account, cashupfront will link with that and are unable to change to other accounts.

Investments

DBS Vickers Securities

Not sure, you probably need to check with the bank.

Investments

ETF

DBS Vickers Securities

Yes all US stocks are all subjected to 30% dividend withholding taxes. Vickers has access to UK markets and thus you can access irish domiciled ETFs if they are listed there. ishares, vanguard and spdr S&P500 ETF are the more common ones from the big names.

Investments

Stocks

DBS Vickers Securities

Goh Kah Kiat
Goh Kah Kiat, Editor-in-chief at Risknreturns.com
Level 4. Prodigy
Updated on 07 Jun 2019
Yes it can be bought through DBS VIckers. Remember to set the settlement currency before buying so that the broker will know whether to settle in USD or SGD.

Investments

Stocks

Standard Chartered Online Trading

DBS Vickers Securities

Tay WenHao
Tay WenHao
Level 4. Prodigy
Answered on 01 May 2019
Im using DBS Vickers and from what I know its directly transferred to CDP account. Not held by 'custodian' aka DBS

Investments

ETF

DBS Vickers Securities

Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 6. Master
Answered on 27 Apr 2019
Dbs vickers may not be the best choice due to the commission structure of minimum 25 usd per trade. Interactive brokers and Td Ameritrade will charge lower. I'm getting a 5 USD minimum with Td due to a group rate via my community and there are no custodian or live data fees involved

DBS

DBS Multiplier

DBS Vickers Securities

DBS Multi Currency Account

Bank Account

Yes you are right, DBS Multiplier is just a DBS MCA with steroid at higher interest rate. I don't see any downside except the min 3k balance or else with admin charges and the higher interest rates (eg.1.85%) comes at the cost that one must do 2 types of transactions with DBS.

DBS

DBS Vickers Securities

Investments

Adds on: In case you do not have internet banking and do not have enough time to apply for an online account. You can use your ATM card and go to your ATM machine to transfer the money to your "Brokerage Company Account Number". The ATM Slip will be a prove that you have made payment if there are any issue in the future. Wah. I answer first here ah? Here goes. 1. Bank transfer to the brokerage account number. Not ur broker account number ah. 2. Write a chq, cross to ur brokerage company and deposit before T+3 with the brokerage bank account number and deposit at the right bank. Dun know what is T+3. Ask ur broker and pls dun cross chq to ur broker name! 3. Go to ur brokerage coMpany and pass them the cheque and ask for receipt of acknowledge ment. Dun try cash. They wun accept it even if u bring pure cash in thousand dollar notes. Another Good Deed Done!
Load more questions
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