DBS Vickers is offering a brokerage fee of only 0.18% or a minimum sum of $18 for buying local stocks. This is significantly cheaper than the next cheapest brokerage fee which is offered by Citibank at $22. Apart from that, brokerages usually charge $25 as the minimum sum for each transaction and the DBS Vickers is offering a good deal indeed.
The only catch here is that you must put cash upfront in your brokerage account first before making any purchase of stocks. This will mainly affect people who do trade on contra but it will not affect investors who take a long term view on their purchase of stocks.
Personally, I am quite tempted by this offer indeed and I may open an account with DBS Vickers. After all, there are no charges involved in opening a brokerage account but I'm wondering if other brokerages will respond with a similiar offer soon.
The link to the official webpage can be found here.
Posts
The link is dead, and its webpage no longer offers such an attractive discount. Did you manage to take advantage of it?
ReplyDeleteHi 5C 2009,
ReplyDeleteI'm okay with my current brokerage and besides, I don't make frequent trades so I didn't open an account with them. Thanks for the update.
Kay
Hi 5C 2009,
ReplyDeleteThe link is not dead, vicker still offer the attractive discount, but it is valid when you buy via the portal, however if you wanted to sell the stock after 3 days you need to sell through the "Cash account" which you need to paid 0.28% broker commission.
Why I know beco I just open an account with them, and complete my first trade with them. :)
Larry