DBS Vickers cash upfront trading

[azriel1]

Accidentally selected the Cash option instead of Cash Upfront Option and the trade already went through. What will happen? The shares will it go to CDP or under custodian?

 

[wutawa]

Accidentally selected the Cash option instead of Cash Upfront Option and the trade already went through. What will happen? The shares will it go to CDP or under custodian?

Still cdp. Just more brokerage fee.

 

[vsvs24]

Not sure about others. But mine took more than a month until emca charge me fall below fees.

But now should be better ba

.......

 

[azriel1]

Still cdp. Just more brokerage fee.

But I checked my MCA account there wasn’t any deduction yet. Usually when bought using cash upfront the amount will deduct immediately. Like that then how am I actually “paying” for the shares?

 

[reddevil0728]

But I checked my MCA account there wasn’t any deduction yet. Usually when bought using cash upfront the amount will deduct immediately. Like that then how am I actually “paying” for the shares?

T+2.

Need to make sure you got funds on settlement day.

When you buy with cash, it’s like a credit card.

Buy first pay later

 

[peppermint7]

But I checked my MCA account there wasn’t any deduction yet. Usually when bought using cash upfront the amount will deduct immediately. Like that then how am I actually “paying” for the shares?

You'll get to pay later
But will be charged a higher fee instead of Cash upfront rate.

 

[zack14]

Accidentally selected the Cash option instead of Cash Upfront Option and the trade already went through. What will happen? The shares will it go to CDP or under custodian?

your commission fees will be high

 

[Opps-gal]

Accidentally selected the Cash option instead of Cash Upfront Option and the trade already went through. What will happen? The shares will it go to CDP or under custodian?

If overseas market is custodian, sgx goes cdp, if I am not wrong.

https://www.dbs.com.sg/personal/pro...VS6mWCh2BvwJAEAAYASAAEgKhQfD_BwE&gclsrc=aw.ds

Anyone try this promo?

 

[vsvs24]

I applied for DBS Vickers on 1 Sep at 7.32pm. Just received SMS and Email that account is opened.

We refer to your application to open a DBS Vickers Online Trading Account dated 01-09-2020 19:32. We are pleased to confirm that your application is successful. Your trading account password will be mailed to you separately by post. You should receive it within 2-3 working days.

Faster than expected. Could it be because DBS already have records of my CDP account since my dividends and EPS etc is made from POSB savings account and my CPF investment account is also with DBS ? During application using internet banking, these accounts were pulled automatically.

 

[lilycll]

I applied for DBS Vickers on 1 Sep at 7.32pm. Just received SMS and Email that account is opened.

We refer to your application to open a DBS Vickers Online Trading Account dated 01-09-2020 19:32. We are pleased to confirm that your application is successful. Your trading account password will be mailed to you separately by post. You should receive it within 2-3 working days.

Faster than expected. Could it be because DBS already have records of my CDP account since my dividends and EPS etc is made from POSB savings account and my CPF investment account is also with DBS ? During application using internet banking, these accounts were pulled automatically.

Opening Account is easy but check the Trading Limit given. It could be enough to sell but very little to buy unless proper Financial supporting document submitted.

 

[reddevil0728]

I applied for DBS Vickers on 1 Sep at 7.32pm. Just received SMS and Email that account is opened.

We refer to your application to open a DBS Vickers Online Trading Account dated 01-09-2020 19:32. We are pleased to confirm that your application is successful. Your trading account password will be mailed to you separately by post. You should receive it within 2-3 working days.

Faster than expected. Could it be because DBS already have records of my CDP account since my dividends and EPS etc is made from POSB savings account and my CPF investment account is also with DBS ? During application using internet banking, these accounts were pulled automatically.

Possible? Why not?

 

[reddevil0728]

Opening Account is easy but check the Trading Limit given. It could be enough to sell but very little to buy unless proper Financial supporting document submitted.

Not an issue if using cash upfront

 

[vsvs24]

Opening Account is easy but check the Trading Limit given. It could be enough to sell but very little to buy unless proper Financial supporting document submitted.

Opened Vickers account to buy using Cash upfront to enjoy the lower fees with shares going to CDP. Understand that buying limit is based on the balance in my linked multi-currency account (DBS multiplier).

 

[reddevil0728]

Opened Vickers account to buy using Cash upfront to enjoy the lower fees with shares going to CDP. Understand that buying limit is based on the balance in my linked multi-currency account (DBS multiplier).

You can have zero balance and still increase your buy limit by submitting your income documents. But this is to buy with cash and not cash upfront

 

[vsvs24]

You can have zero balance and still increase your buy limit by submitting your income documents. But this is to buy with cash and not cash upfront

Noted. Thanks.

 

[VacheronLim]

any one who frequently purchase HK stocks?

am deliberating whether to just go with DBS Vickers for convenience as I have banking account with them, or to go with FSMone as I understand they're more competitive than Vickers in terms of charges?

or I have both, purchase via Vickers and sell via FSMone?

 

[reddevil0728]

any one who frequently purchase HK stocks?

am deliberating whether to just go with DBS Vickers for convenience as I have banking account with them, or to go with FSMone as I understand they're more competitive than Vickers in terms of charges?

or I have both, purchase via Vickers and sell via FSMone?

Did you check their charges on their website?

DBS Vickers if using cash upfront it will be 0.15% min HKD 80. FSMone charges 0.08% min HKD 50.

DBSv also charge custody fee. i don't believe there is any custody fee for fsm.

the stocks don't go into CDP. so i don't think you can purchase via vickers and sell via FSM?

 

[xoleman]

Does anyone know how the sell limit in Vickers actually work? I should be able to permanently increase it by transferring money into my MCA account right?

 

[wutawa]

Does anyone know how the sell limit in Vickers actually work? I should be able to permanently increase it by transferring money into my MCA account right?

https://www.dbs.com.sg/personal/support/investment-vickers-increase-trading-limits.html

 

[occifer]

Did you check their charges on their website?

DBS Vickers if using cash upfront it will be 0.15% min HKD 80. FSMone charges 0.08% min HKD 50.

DBSv also charge custody fee. i don't believe there is any custody fee for fsm.

the stocks don't go into CDP. so i don't think you can purchase via vickers and sell via FSM?

Did i read right? DBS charge $2 per stock per month?
Thats 24 per year per stock
5 stocks and u lose $120 sgd per year already.