facebookOCBC Securities iOCBC Reviews and Comparison - Seedly

OCBC Securities iOCBC

  • Key Features
  • Reviews (35)
  • Discussions (0)
  • More Details
claimed
Unclaimed

This product has not been claimed by the company yet.

Summary

OCBC Securities Online Brokerage

iOCBC is an online trading platform by OCBC's securities and futures brokerage firm. With iOCBC, you can trade Stocks, REITs, ETFs, Warrants, ADRs, Futures, Forex, and Precious Metals. iOCBC is available on online Platforms, Mobile, and via Broker Assistance.

Brokerage Features & Details

1) Key Features

  • Offers market access to over 15 exchanges globally
  • Various accounts catered to different trading needs 
  • Gain access to educational resources and tools to equip investors to make informed investment decisions
  • Licensed by the Monetary Authority of Singapore (MAS)

2) Commission Fees

  • SG Stocks & ETFs:
    - Online: From 0.18% (S$25 minimum)
    - Broker Assisted: From 0.25% (S$40 minimum)
  • US Stocks & ETFs:
    - Online: 0.30% (US$20 minimum)
    - Broker Assisted: 0.415% (US$30 minimum)

3) Other Fees

  • SGX Trading Access Fees: 0.0075% of contract value
  • SGX Settlement Instruction Fees: S$0.35 per contract
  • SGX Clearing Fee: 0.035% of contract value | 0.004% of contract value for Structured Warrants
  • SG Financing Fees: 6.0% per annum
  • US Financing Fees: 6.25% per annum
  • Foreign Custodian Fees: S$2 per counter (per month)

4) Account Opening

  • Minimum age: 18 years old
  • Account opening fee: S$0
  • Payment methods: GIRO, Electronic Payment for Shares (EPS), Internet Bill Payment, Telegraphic Transfer, Cheque
  • Minimum investment required: S$1,000 (for clients under 21 years old); S$2,000 (for foreigners)

5) Products Offered 

  • Stocks
  • Shares
  • ETFs
  • Bonds
  • Futures
  • Forex
  • REITs
...see more

Popular Products

Saxo Markets

4.5

956 Reviews

Syfe Trade

4.9

124 Reviews

FSMOne Fundsupermart

4.3

253 Reviews

Summary

OCBC Securities Online Brokerage

iOCBC is an online trading platform by OCBC's securities and futures brokerage firm. With iOCBC, you can trade Stocks, REITs, ETFs, Warrants, ADRs, Futures, Forex, and Precious Metals. iOCBC is available on online Platforms, Mobile, and via Broker Assistance.

Brokerage Features & Details

1) Key Features

  • Offers market access to over 15 exchanges globally
  • Various accounts catered to different trading needs 
  • Gain access to educational resources and tools to equip investors to make informed investment decisions
  • Licensed by the Monetary Authority of Singapore (MAS)

2) Commission Fees

  • SG Stocks & ETFs:
    - Online: From 0.18% (S$25 minimum)
    - Broker Assisted: From 0.25% (S$40 minimum)
  • US Stocks & ETFs:
    - Online: 0.30% (US$20 minimum)
    - Broker Assisted: 0.415% (US$30 minimum)

3) Other Fees

  • SGX Trading Access Fees: 0.0075% of contract value
  • SGX Settlement Instruction Fees: S$0.35 per contract
  • SGX Clearing Fee: 0.035% of contract value | 0.004% of contract value for Structured Warrants
  • SG Financing Fees: 6.0% per annum
  • US Financing Fees: 6.25% per annum
  • Foreign Custodian Fees: S$2 per counter (per month)

4) Account Opening

  • Minimum age: 18 years old
  • Account opening fee: S$0
  • Payment methods: GIRO, Electronic Payment for Shares (EPS), Internet Bill Payment, Telegraphic Transfer, Cheque
  • Minimum investment required: S$1,000 (for clients under 21 years old); S$2,000 (for foreigners)

5) Products Offered 

  • Stocks
  • Shares
  • ETFs
  • Bonds
  • Futures
  • Forex
  • REITs
...see more

OCBC Securities iOCBC

$25
MINIMUM FEE
0.18% to 0.275%
TRADING FEES
CDP
STOCK HOLDING TYPE

OCBC Securities iOCBC

$25

MINIMUM FEE

0.18% to 0.275%

TRADING FEES

CDP

STOCK HOLDING TYPE

Reviews (35)

2.7

35 Reviews

5
4
4
10
3
6
2
2
1
13

Service Rating

Customer Support

2.9

User Experience

2.7

      Posted 18 Dec 2019

      Purchased

      OCBC Securities iOCBC

      The online brokerage is useful and suits all my needs in the stock market. The SMS notifications to my mobile are very helpful in ensuring that my trades were executed successfully. User interface is good on my mobile app also.

      0

      What are your thoughts?

      Posted 18 Dec 2019

      Purchased

      OCBC Securities iOCBC

      Find iOCBC a little more expensive then FSM. Earlier I linked both CPF and SRS to this bank and hence the linkage convenience. However, the cost incurred in moving funds between CPF and bank is a little high for me. So most of the time I have to leave dividends back to the equity as scripts to avoid unnecessary charges of transfers, this is not helpful for equities without script options. Also find the graphics a little less flexible then FSM.

      0

      What are your thoughts?

      Posted 15 Dec 2019

      Purchased

      OCBC Securities iOCBC

      [Commission Rates] Can be lowered more. [Others] SBL account tab should be allowed to see the available balance even after trades have been done so that we can be reminded of the amount we have in this account. More up to date market information should be sent promptly to the users via email or alert so as to make more informed decision on trading.

      0

      What are your thoughts?

      Posted 11 Dec 2019

      Purchased

      OCBC Securities iOCBC

      [Customer Service] Rates are competitive and the application process is pretty straightforward, I did mine online and turn around time was ~2 weeks to get my account setup. After my login details were sent to me, increasing my limit was done quickly with a phone call. [User Interface] Platform is easy to navigate and use from the get go, creating multiple watch list was easy and straightforward. [Commission Rates] Rates are acceptable and similar to competitors. I'm not a day trader or trade a high enough volume to renegotiate rates. Great product.

      0

      What are your thoughts?

      Posted 18 Dec 2019

      Purchased

      OCBC Securities iOCBC

      [Commission Rates] Rates were okay, but definitely not the cheapest. [User Interface] is quite good, although it does look a little old school. Signed up for this because it is probably the best for younger adults as the age limit is 18. When you reach 21, many other brokerages will be available. Great for people aged 18-20 to join!

      0

      What are your thoughts?

      Posted 17 Dec 2019

      Purchased

      OCBC Securities iOCBC

      [Commission Rates] No difference among the brokerage firms that offer CDP services. Personally prefer commission to be lower [if you compared with those competitions that offer custodian accounts]. For foreign markets, it is way too high [please look at your competitors]. [User Interface] Web version. Good to use. Instruction is easy to follow. Too much tab and sometimes have to toggle here and there. Should make it more comprehensive (eg 1 same page to allow you to check market conversion rate, and buy/sell etc). Mobile app version. Easy to use, but I have problem in finding a way to search the stocks I want to look at (maybe is me only). [Market Access][Products Offered] Not suitable for foreign markets due to the commission. It will be good if it can be integrated with some regular saving plans that offer US/UK ETFs. Currently there is cap to receive SMS/etc for market updates/etc. [Customer Service] My brokerage account was delayed due to some IT/technical revamps in OCBC last year, but customer service is willing to help. However, I am not in contact with my TR so far. [Others] Do we have eDocuments already for contracts/etc (last check August) ?

      0

      What are your thoughts?

      Posted 17 Dec 2019

      Purchased

      OCBC Securities iOCBC

      [User Interface] clean interface and so far does not crash and stays connected pretty much all the time after logging in. That said, I do feel it can be made less boring looking though. Serious business should also look fun. 👍

      0

      What are your thoughts?

      17 Dec 2019

      Purchased

      OCBC Securities iOCBC

      I called my Trading Representative and she was not around, There was a covering officer who did his very best to help me with my issue, though I was not his long time customer. =) As for the user interface, it was simple to buy/sell online. I did not have to go for any training to do it. =) The mobile app version could be improved. (The trade portfolio needs to be updated every time we buy/sell the respective shares). Overall, still a good exeperience with OCBC Securities ! Keep up the good job. =) [Customer Service] [User Interface]

      0

      What are your thoughts?

      Posted 15 Dec 2019

      Purchased

      OCBC Securities iOCBC

      [Commission Rates] [Customer Service] not the cheapest comms in the market, but i am assigned a dedicated trading rep who is responsive to queriesand gives good advises. I like that their analysts frequently hold events and market updates on for normal retail investors, and not just for the high networth. [User Interface] simple. no frails. free technical tools but i do not use. so far no issues. only once in the last 4 years i had to call CS for an issue which I forgotten what was it about. but it was resolved in a few days with the CS constantly following up. [Others] Since ocbc securities does not sell insurance or other funny products, i never received cold calls from irritating agents.

      0

      What are your thoughts?

      Posted 14 Dec 2019

      Purchased

      OCBC Securities iOCBC

      [User Interface] The login requires token number instead of the face ID or thumb print. It is an Obselete verification. It would be better if the GUI supports some brief market update.

      0

      What are your thoughts?

    Discussions (0)

      No Posts Found.

      Popular Products

      Saxo Markets

      4.5

      956 Reviews

      Syfe Trade

      4.9

      124 Reviews

      FSMOne Fundsupermart

      4.3

      253 Reviews

      Types of Services iOCBC provides

      OCBC Securities offers a few types of services on their trading platform.

      • Features direct market access (DMA)
      • View counterparty, trading history and trust balances
      • Trade calculator tool to help calculate entry and exit profitability for local and overseas securities
      • StockReports+ by Thomson Reuters that can help suggest trading ideas and understand industry trends better.
      • Share Financing Simulator to calculate margin percentages
      • GIRO service offers an automatic and convenient way of debiting payment from credit sale proceeds to designated OCBC 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.
      • Easy onboarding to iOCBC for existing OCBC Online Banking Customers - trade via iOCBC by simply linking your online trading accounts to your online banking account

      Types of Account Available With iOCBC by OCBC Securities

      OCBC Securities offers various types of account, catered to the different needs of individual investor.

      The types of account OCBC Securities provide are:

      • Basic Trading (Cash) Account
      • Young Investor Programme
      • Share Financing Account
      • Securities Borrowing Account
      • Leveraged FX Account
      • Futures Account
      • Equities Plus Account

      Brokerage Fees & Charges of OCBC Securities

      The fees and charges of OCBC Securities are as follows:

      Online

      • Minimum Commission: S$25
      • Investment of S$50,000 and below: 0.275%
      • Investment of S$50,000 to S$100,000: 0.275%
      • Investment above S$100,000: 0.20%

      By Phone

      • Minimum Commission: S$40
      • Investment of S$50,000 and below: 0.50%
      • Investment of S$50,000 to S$100,000: 0.40%
      • Investment above S$100,000: 0.25%

      Other transaction charges:

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

      Contact OCBC Securities

      • OCBC Securities hotline: 1800 338 8688
      • Visit OCBC Securities' website for more details

      Contact us at [email protected]should you require any assistance or spot any inaccuracies.