DBS Vickers Review: Beginner-Friendly Brokerage With Competitive Rates And Wide Range Of Investments

A leading brokerage with plenty to offer both newbies and veterans, but high minimum commission fees may give some traders pause. 

As the leading bank in Singapore, DBS is known for customer service that focuses on empowering the customer to do what they want to do. 

This philosophy extends to its investment brokerage arm, DBS Vickers, which offers the same friendly and welcoming stance to customers new to investing. You’ll find detailed guides online that will walk you through every step of the way, and you’ll be making your very first trade before you know it. 

At the same time, the brokerage offers a wide selection of investment instruments and access to seven leading global markets, which should prove attractive to experienced traders.    

Here’s what you’ll learn about DBS Vickers in this article.

• Overview of DBS Vickers
• Why trade with DBS Vickers?
• Who should use DBS Vickers?
• Pricing, charges and fees
• DBS Vickers promotions
• How to set up an account
• Comparison: DBS Vickers vs other brokerages

Overview of DBS Vickers

What you can invest in: Stocks, ETFs, REITs, Fixed Income Securities, Structured Warrants
Minimum balance required: None
Deposit fees: S$0
Withdrawal fees: S$0
Withdrawal limits: None
Commission: SG stocks - 0.28% or minimum S$25, US stocks - 0.18% or minimum US$25
Inactivity fee: None
Licence: Authorised by Monetary Authority of Singapore (MAS)

Why should you trade with DBS Vickers?

#1: Large variety of investment products and access to multiple markets 

DBS Vickers has plenty to offer whether you’re a beginner investor or a seasoned trader. 

It offers a wide selection of investment products ranging from the basic ones like stocks, exchange-traded funds (ETFs) and real estate investment trusts (REITs), to more advanced stuff like structured warrants and callable contracts. 

Investors can also enjoy a robust trading environment, with access to seven key markets: United States, United Kingdom, Canada, Japan, Hong Kong, Australia and Singapore.

#2: Beginner-friendly and convenient

Those who are new to investing will find plenty of help and guidance here. From detailed sign-up instructions to clear and transparent fees schedules, you can easily find and learn about essential information so you can quickly build your confidence while steering clear of inadvertent mistakes.

Signing up for DBS Vickers is also a convenient and seamless process that is integrated with your existing banking services.

#3: Can invest with CPF and SRS funds as alternatives 

DBS Vickers gives you the option of using your CPF and SRS funds to invest. 

This gives you an alternative way of investing for your future, while maintaining a free cashflow to meet other financial needs. 

#4: Rich research and educational content

The DBS Vickers research team maintains a rich library of research and educational content, ranging from market insights and explainers to economic news, allowing investors and traders to develop a good overview of macroeconomic trends and understanding of market conditions. 

Also provided are a selection of investing tools such as analysis tools, charting instruments and price alerts to help beginner investors manage their trades. 

However, more experienced traders may find the selection to be too basic and somewhat lacking.  

For whom is DBS Vickers best suited?

DBS Vickers is one of the most beginner-friendly brokerages in the market, making it extremely hassle-free.

Another strong point is the close integration of DBS Vickers with its core banking services. For instance, if you already have a Multi-Currency Account (MCA), you can link it to your investment account and start trading in minutes. 

This seamless integration makes it easy and convenient for existing customers to begin their investment journey without the hassle of registering at a new brokerage or portal.   

What charges or fees should you look out for?

WIth DBS Vickers, the only thing you need to note in terms of fees are the minimums for online trades, which are charged in the currency the trade is made.

Trades in SGD are subject to a minimum of S$25 each, while USD trades have a minimum of US$25. This can quickly eat into your funds if you’re in the habit of making smaller trades. 

However, percentage wise, DBS Vickers actually offers pretty competitive trading commissions. SGD trades start at 0.28%, and can go down to as low as 0.18% as the value of your trade increases.

Besides that, there aren’t many other fees charged on your account, and DBS even offers a free waiver of the fall-below fee for the MCA linked to your investment account.   

What are the promotions available for DBS Vickers?

Commission rebate (new accounts)

• Enjoy 100% commission rebates on your first five trades
• Rebates applicable on online trades only
• Promotion valid till 30 September 2021
• Only new accounts are eligible
• Terms and conditions apply

Commission rebate (all accounts) 

• Enjoy 10% commission rebates for all trades across seven markets (SG, US, HK. CA, UK, AU, JP)
• No cap on commission rebates
• Rebates on online trades only
• Promotion valid till 30 September 2021
• Terms and conditions apply 

How do you open and fund your DBS Vickers account?

Opening your DBS Vickers account

Follow these steps to open your DBS Vickers account

1. Go to 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 prompts
5. Download the step-by-step guide for detailed instructions

Funding your DBS Vickers account

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

At-a-glance comparison: DBS Vickers vs other popular brokers

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