DBS Vickers Securities Reviews and Comparison - Seedly
DBS Vickers Securities
3.1
15 reviews
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Reviews (15)
3.1
Reviews (15)
3.1
  • 5
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    5
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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.
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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!
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  • Updated on 19 Jul 2018
    Pros: - Competitive Rates - Linked to DBS accounts Cons: - Poor customer service - Horrendous UI for mobile app I have switched from DBS Vickers to DBS Wealth Management, which is much much better. There is also no minimum commissions for trades, and there is access to many international markets but with the accompanying custodian fees.
    0 comments
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  • Updated on 16 Jun 2018
    Using DBS Vickers Securities as it charges lower commission fees with cash upfront option. However, cash upfront option is not available on apps.
    0 comments
    0
Questions (34)

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FSM One

DBS

DBS Vickers Securities

AMA 1M65

Investments

Chuan Lee
Chuan Lee

()

Level 2. Rookie
Updated 6d ago
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 8. Wizard
Updated 4w ago
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 3. Wonderkid
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
Top Contributor

Top Contributor (Sep)

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.
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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