I have shortlisted these 3 firms. DBS Vickers, Citibank and POEMS.
DBS Vickers
Normal Account: Link here
If trade using cash upfront : Link here
Citibank Brokerage
For link to the Citibank website: Click here
POEMS
For link to the POEMS website : Click here
Thus looking at the commission charges, I will definitely use DBS Vickers with the cash upfront. It has the LOWEST brokerage / commission charges for the Singapore market at 0.18% or minimum $18. However cash upfront means that before you make the purchase of the shares, you have to transfer the money from your DBS/POSB account into your DBS Vickers account. ( This can be done real time) However, withdrawing of the money in this account back to your DBS/POSB account requires 1 working day. Personally I do not see a problem with this, unless you are doing contra trading.
If you are going to do contra trading, Citibank's internet commission is the lowest, at 0.28% and minimum charge of $22. Though DBS Vickers' normal net account has a 0.28% minimum too, it has a higher minimum charge of $25.
I placed POEMS in the comparison too, because I do use phone trading in the past, especially for emergencies. However, it has a rather high (though considered the market rate) for commissions.
Those are interested to trade together, just drop me an email at NTUChartist@hotmail.com
14 comments:
Try DMG ONLINE it charges 0.275% only for first 50000
I just saw a promotion by Citibank Brokerage. Sign up between 17 August and 30 November 2009 and your first trade commission will be free. Interesting... think they're trying to get the market share and awareness since they're not a major player in brokerage. Worth a shot.
- Advisor
Actually I have an account with Citibank. However it works the same way as DBS Vickers cash upfront. I.e. you need to have your cash in the account before trading, and no credit is given.
In this case, I would think, might as well use DBS vickers? Cos they have a lower commission rate.
please enlighten me, why will you say DBS got the lowest commission fee than citibank?From the table DBS is charging at min trade $25, how come is $18? while citibank is at $22. can explain to me? I am starting my 1st trade soon.
For DBS, only the cash upfront trade has the min commission charge of $18.
For this lower commission charge, you have to access your DBS/POSB iBanking, and from there transfer money into your DBS vickers before buying the shares through DBS Vickers. ( This means that you have to actually place the money with DBS before you can trade at this special commission)
However, if you choose to use DBS Vickers to buy the stock first, and pay later on through means like EPS, cheque..etc. you will charged based on the higher rate.
Does this help?
I normally use DBS to invest but selling will use other trading account.
Of course contra will other trading account as limit is higher :)
yup..that is what i do too.
Great information here. Thank you to all,... what about UOB-Kayhian ? I think their rates are higher, but could it be because they have better features in their trading website ?
That i am not sure, i have not used their interface before..so can't comment on them.
Frankly, I would recommend getting a few brokerages to try but eventually use the one with the lowest commision to trade.
Thank you, NTU,...
Hi there, Vickers Cash Upfront is $18 per transaction for pure buying(for keeps) and buying and selling on contra. If you are selling after your shares have been credited into your CDP account, it is $25. :)
HI, newbie here. a quick question. I alreadry have a CDP account. by opening a DBS vickers account...do they link them together or will i have a new account?
During the application of the Vickers account, they will ask you for your CDP account in order to link it.
Everyones Looking For a good deal on stock trade commissions.
Post a Comment