DBS Vickers Online Trading Review [2022] | Dollar Bureau

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DBS Vickers Online Trading Review

Articles written are independent opinions, and are not affiliated/sponsored unless specifically mentioned.

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Table of Contents

One of the largest banking groups in Asia, DBS now offers you to invest through DBS Vickers.

With access to 7 markets and a variety of financial instruments to choose from, DBS Vickers is a popular brokerage platform in Singapore due to the DBS brand.

In this article, we will conduct a complete review of DBS Vickers Securities.

Platforms Offered by DBS Vickers

DBS Vickers provides 2 types of platforms; one is an online trading platform, and the other is DBS Vickers mobile app.

The online platform is equipped with all the tools a trader needs to deal with financial assets online. With a single platform, you can instantly access 7 key global markets.

Other than that, DBS Vickers Securities provides an app that allows you to trade on your mobile device and stay in touch with the markets anytime, wherever you are.

Whether you are an iPhone user or an Android lover, the platform’s app is compatible with every software. The app is free of cost as you can download it direct from the Playstore (If you have an android device) or from an Apple store if you are using iOS.

Most of the DBS Vickers online trading platform features are available on the DBS Vickers App like:

  • You can access multiple markets, including Singapore.
  • You can get real-time stock quotes from 7 markets they deal in.
  • You can get the benefit of customisable portfolios and watchlists.
  • Order surveillance facilities.
  • 2FA as a security feature.

 

On the DBS Vickers App, you can examine your watchlists/custom portfolios built using the online trading platform and vice versa. You may access the DBS Vickers App from anywhere if your mobile device has a wireless Internet or data connection.

Markets Offered by DBS Vickers

For now, you can trade online markets in Hong Kong, Canada, Singapore, the United States, the United Kingdom, Australia, and Japan.

DBS Vickers offers real-time quotes on the equities listed in the US, Canada, Singapore, and Hong Kong for free.

On the downside, you have to bear a lag of 15 minutes for the quotes of the UK market and 20 minutes for the Australia and Japan markets.

Investment Products Offered by DBS Vickers

You can trade the following financial instruments using DBS Vickers:

 

Fees, Charges, and Minimum Investments

DBS Vickers charges market competitive fees from its customers in the same currency they are trading with.

There are no account opening fees, funding fees, and minimum deposits on DBS Vickers. However, withdrawals will incur S$50 per counter + any out-of-pocket charges.

Below is the complete schedule of DBS Vickers fees and commission charges.

Singapore Market

Here are the commission fees of DBS Vickers for the Singapore Market in SGD.

Cash Cash Upfront, which is applicable to Buy trades only
(Share trading in SGD) Online Phone Online
Minimum Commission SGD25 SGD40 SGD10
SGD50,000 and below 0.28% 0.38% 0.12%
Above SGD50,000 – SGD100,000 0.22% 0.30%
Above SGD100,000 0.18% 0.23%
0.12%

For online advisory clients, the fee structure is a bit different:

Cash Cash Upfront which is applicable to Buy trades only
(Share trading in SGD) Online Phone Online
Minimum Commission SGD25 SGD40 SGD10
SGD50,000 and below 0.28% 0.5% 0.12%
Above SGD50,000 – SGD100,000 0.22% 0.40%
Above SGD100,000 0.18% 0.30%
0.12%

SGX trading fee stands at 0.0075% of traded value.

Daily leverage certificates and structured warrants fees stand at 0.001% of traded value, while money market ETFs stand at 0.0001% of traded value.

The clearing fee stands at 0.0325% of traded value.

Trading fees for daily leverage certificates and structured warrants are 0.004% of traded value, while for money market ETFs it is 0.0001% of traded value.

Hong Kong Market

Here are the commission and transaction charges of DBS Vickers for the Hong Kong market.

Commission Charge

Cash Cash Upfront* (Applicable to Buy trades only)
 

Minimum Commission:

Rate:

Phone:

HKD100/USD15

0.25%

Online:

HKD100/USD15

0.18%

Online:

HKD80/USD12

0.15%

Other Transaction Charges

Transaction Levy (SFC charge) 0.0027% on the trading principal
CCASS Fee 0.002% on trading principal (min. HKD2, max. HKD100)
Trading Fee (SEHK charge) 0.005% on the trading principal
Transaction Levy (FRC charge) (Effective on 1st January 2022) 0.00015% on the trading principal
Stamp Duty (Government charge) 0.13% on trading principal (round up to the nearest dollar)

United States Market

Here are the commission and transaction charges of DBS Vickers for the US market.

Commission Charges

Cash Cash Upfront* (Applicable to Buy trades only)
 

Minimum Commission:

Rate:

Phone:

USD35

0.45%

Online:

USD25

0.18%

Online:

USD18

0.15%

Canada Market

Here are the commission and transaction charges of DBS Vickers for the Canadian market.

Commission Charges

Cash Cash Upfront* (Applicable to Buy trades only)
 

Minimum Commission:

Rate:

Phone:

CAD39

0.50%

Online:

CAD29

0.30%

Online:

CAD20

0.25%

United Kingdom Market

Here are the commission and transaction charges of DBS Vickers for the UK market.

Commission Charges

Cash Cash Upfront* (Applicable to Buy trades only)
 

Minimum Commission:

Rate:

Phone:

GBP 40 /USD 57 /EUR 53

0.80%

Online:

GBP 25 /USD 36 /EUR 33

0.35%

Online:

GBP 20 /USD 28 /EUR 26

0.25%

Australia Market

Here are the commission and transaction charges of DBS Vickers for the Australian market.

Commission Charges

Cash Cash Upfront* (Applicable to Buy trades only)
 

Minimum Commission:

Rate:

Phone:

AUD45

0.80%

Online:

AUD30

0.35%

Online:

AUD20

0.25%

Japan Market

Here are the commission and transaction charges of DBS Vickers for Japan market.

Commission Charges

Cash Cash Upfront* (Applicable to Buy trades only)
 

Minimum Commission:

Rate:

Phone:

JPY5000

1.00%

Online:

JPY3000

0.35%

Online:

JPY2000

0.25%

Custodian Fees

DBS Vickers will charge a minimal fee of S$2 per counter per month.

It comes up with a quarterly cap of S$150. There is a waiver option for the custodian fees; but for that, you must make at least 2 monthly or 6 transactions per quarter.

Account Opening and Funding

How to open a DBS Vickers account?

To open an account with DBS Vickers Securities, you need to follow the following steps:

1) Go to the DBS Vickers Securities page

2) Hover your mouse over the red lock icon on the right-hand side of the screen

3) Click “Open a DBSV Account”

4) Follow the on-screen instructions

5) Download the step-by-step guide for detailed instructions

How to Fund DBS Vickers account

You may fund your account using any of the following methods:

 

Withdrawal Options

You can withdraw funds from your account using the same methods as above, along with mail cheques and quick cheques.

Here are the steps for withdrawal:

  1. Log in to your account and select Account Management.
  2. Select Online Funds Withdrawal under Online Instructions.
  3. Select any options, i.e., Pure Withdrawal or Intra Account Transfer.
  4. Select any available modes of payment.
  5. Select a Currency and enter your withdrawal amount.
  6. Click Submit to confirm your withdrawal request.

 

Promotional Offers & Rewards

Cash Reward

Promotional offers by DBS Vickers vary from time to time, so you’ll have to constantly keep track.

At the time of writing, DBS Vickers offers you a S$30 cash reward when you make a cash upfront trade. This offer is available until 31 October 2022.

Trade Rebate

From now until 30 September 2022, you will receive a 10% commission rebate on all online trades in any of the 7 key markets – with no commission rebate cap.

Is DBS Vickers Safe?

DBS Vickers is safe as they hold a Capital Markets License as seen in the screenshot below.

dbs vickers cms license

In contrast to other brokers, DBS Vickers Securities is an official member of the Singapore Exchange, lending credibility to their operations.

The second point in DBS Vicker’s favour is their long-serving record of decades. When it comes to safety, DBS Vickers Securities is backed by DBS bank, which adds to its credibility.

DBS Vickers’ protects the confidentiality and integrity of its client’s information by:

  • Encrypting all apps
  • Placing an Internet firewall
  • Monitoring all internal systems to ensure optimal security
  • Employing 128-bit SSL encryption

 

Also, your shares are stored in your Central Depository Account (CDP).

Usability of DBS Vickers

The DBS Vickers research team keeps a large library of research and educational content, ranging from market insights and explainers to economic news, to help you develop a good understanding of macroeconomic trends and market conditions.

A variety of investing tools, such as analysis tools, charting instruments, and price alerts, are also provided to assist beginner investors in managing their trades.

More experienced traders, on the other hand, may find the selection to be too basic and somewhat lacking.

DBS Vicker’s platform has been reported to have an outdated and non-user-friendly interface.

DBS Vickers’ Customer Support

DBS Vickers offers 24/7 mobile, chat, and email support.

In one business day, DBS Vickers’ customer service team aims to resolve any problems related to your account.

Furthermore, the platform provides an easy-to-understand FAQ section for beginners to advanced users.

The FAQ section is complemented by complete account-related manuals. An elaborate guide to the online trading platform has also been published on their website.

The service provided, however, is low to mediocre according to user reviews available online.

We’ve never needed to use their customer support before, so we’re unable to verify this.

Summing It Up

With 7 markets and a handful of investment products available for you to invest in, DBS Vickers is definitely ahead among many brokers.

The DBS brand behind the platform definitely adds credibility and security, especially when it comes to money.

So if the markets and investment products you need are available and you worry about the uncertainty of whether a broker will last in Singapore’s competitive market, DBS Vickers is definitely for you.

However, when it comes to affordability, DBS Vickers is nowhere near competitive enough as compared to brokers charging just a few dollars per trade.

For example, moomoo charges just 0.03% of your transaction amount, or min S$0.99/order for trades in the Singapore market and HK$15 for the Hong Kong market.

Webull Singapore also provides you with free trades in the US markets and you could even trade fractional shares from as low as US$5.

Thus, if cheap is what you’re looking for, DBS Vickers might not be for you.

Disclaimer: Each article written obtained its information from reliable sources and should be purely used for informational purposes only. The information provided by Singapore Financial Planners and its affiliated parties is not meant to be construed as financial advice. Singapore Financial Planners shall not be held liable for any inaccuracies, mistakes, omissions, and losses incurred should you act upon any information listed on this website. We recommend readers to seek financial planning advice from qualified financial advisors. 

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