DBS

Risk First: proper understanding of limits is essential. Pros include seamless integration with DBS Multi‑Currency Account, preferential FX rates, proactive rate alerts, ability to set FX order watch, broad equity market access, and bank‑level reliability. Cons include absence of dedicated forex trading instruments or leverage/Hedging tools typical in forex brokers, no demo paper trading, and limited transparency on forex spreads. The platform is primarily equity‑centric with FX conversion as support feature.

Risk First: funding and withdrawal terms may affect liquidity. No minimum monetary deposit is required to open a DBS Vickers trading account and no minimum balance is mandated. Withdrawals can be made via GIRO or EPS (for SGD or converted currencies), and foreign currency withdrawal to DBS Multi‑Currency Accounts is supported. Cut‑off time for same‑day withdrawal is 9 am; after that it is processed the next business day. No deposit fees are mentioned.

Risk First: trading strategies should be tested carefully. DBS Vickers provides an online trading platform accessible via web browser or the DBS Vickers mTrading mobile app (iOS/Android). It supports trading in equities across seven key global markets with access to forex conversion through the DBS Multi‑Currency Account. Forex rates are live from DBS online forex services and Order Watch allows setting target rate conversions. Paper trading (demo) account is not offered. There is no mention of an Islamic account or algorithmic trading for forex. Leverage for forex is not provided as DBS Vickers is not a retail forex broker.

Risk First: fees directly affect net results. DBS Vickers charges no account opening or annual maintenance fee and no minimum balance requirement. Custodian fee applies at SGD 2 per counter per month (capped at SGD 150 per quarter) but is waived if at least two trades/month or six trades/quarter. Online commissions: for Singapore shares, cash‑upfront buy trades cost 0.12% (min SGD 10.90) online and standard cash 0.18% (min SGD 27.25); other markets have defined rates similarly. Spread or forex rate mark‑up is applied when converting currencies, but specific forex spread figures are not disclosed. Deposit/withdrawal fees aren’t documented explicitly. No inactivity fees stated.