500
Settle your trades conveniently
At a Glance

Trade conveniently by linking your Vickers Trading Account to a Multi-Currency Account (MCA)
Use your MCA funds to seamlessly trade across 7 global markets and settle your trades easily in both local and foreign currencies. Funds are debited and credited automatically through your MCA.

Up to 55% lower online trading commissions
Enjoy one of the lowest commissions on cash upfront trades in 7 key global markets.

Convert currencies at your preferred FX rate
Buy currencies, lock in FX rate when the rates are favourable to you and save the funds for your investment payments.
Commission Rates
Market* | Cash Rates | |
---|---|---|
Before Opt-in (inclusive of GST) | After Opt-in (inclusive of GST) | |
Singapore | 0.28% Min SGD27 | 0.18% Min SGD27 |
United States | 0.18% Min USD27 | 0.16% Min USD27 |
Hong Kong | 0.18% Min HKD108 | 0.16% Min HKD108 |
Canada | 0.30% CAD 31.32 | 0.28% CAD 31.32 |
United Kingdom | 0.35% GBP 27 | 0.30% GBP 27 |
Japan | 0.35% JPY 3240 | 0.30% JPY 3240 |
Australia | 0.35% AUD 32.40 | 0.30% AUD 32.40 |
*New lower foreign market online rates coming your way too! Only applicable to trading accounts that are linked to MCA.
Improved Foreign Market Trade Settlement
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Higher efficiency and more timely settlement of contracts
Two or more contracts of the same counter can be settled using Net or Contra.
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Improved trading settlement
If you made a buy and sell trade of the same stock on the same day, you will only be required to settle the difference in amount of your outstanding trades.
e.g.Outstanding buy contract value of AAPL: USD 1000Outstanding sell contract value of AAPL: USD 500USD 500 will be debited from your MCA on settlement date -
Lower FX risk, lower upfront investment
With the new settlement process for foreign markets, the settlement amount for your buy and sell trades will be the difference in the contract values.
If the difference is a gain, the amount will be credited to your MCA on the settlement date.
Here are some examples to illustrate Net and Contra settlement. For illustration purpose, contract value for all the examples below excludes commissions fees and other market charges.
Illustration 1:
You bought 10 AAPL shares and sold off 5 AAPL shares on the same day.
Trade Details | On the date of trade: Buy 10 AAPL @ 120 and sell 5 AAPL @ 123 Contract value for buy 10 AAPL: USD 1,200 Contract Value for sell 5 AAPL: USD 615 |
Settlement Details | Trade Date + 2 (Settlement Date): MCA balance: USD 700 Net is formed on sell settlement date and both AAPL contracts will be settled successfully. USD 585 will be deducted from MCA. |
Daily Statement and DBS Vickers online trading platform display | Display for Foreign Contra / Net Settlement Net reference number and the respective contracts used to form Net will be displayed in the online trading platform My Account > History > Account Activity New section in daily statement – Foreign Contra / Net Settlement Statements will display the Net reference number and the respective contracts used to form the Net. |
Illustration 2:
You bought 10 AAPL shares and sold off 5 AAPL shares on the same day.
Trade Details | On the date of trade: Buy 10 AAPL @ 120 and sell 5 AAPL @ 125 Contract value for buy 10 AAPL: USD 1,200 Contract Value for sell 5 AAPL: USD 625 |
Settlement Details | Trade Date + 2 (Settlement Date): MCA balance: USD 50 Partial Contra is formed on the sell settlement date. USD 25 will be credited to your MCA. The remaining buy 5 AAPL will remaining outstanding as there are insufficient funds in MCA. You may perform FX conversion directly via digibank from SGD to USD to settle the outstanding contract. |
Daily Statement and DBS Vickers online trading platform display | Display for Foreign Contra / Net Settlement Contra reference number and the respective contracts used to form Contra will be displayed in the online trading platform My Account > History > Account Activity New section in daily statement – Foreign Contra / Net Settlement Statements to display the Contra reference number and the respective two contracts used to form the Contra. |
Illustration 3:
You bought 1 SBUX share and sold the next day.
Trade Details | On the date of trade: Buy 1 SBUX @ 110 Trade date + 1: Sell 1 SBUX @ 105 Total contract value for buy 1 SBUX: USD 110 Total Contract Value for sell 1SBUX: USD 105 |
Settlement Details | Trade date + 3: MCA balance: USD 0 Contra is formed on the sell settlement date. As there is no balance in MCA, the contra loss of USD 5 will remain outstanding. You may perform FX conversion directly via digibank from SGD to USD. To view your outstanding contra amount, please log in to the online trading platform > Outstanding contracts > Contra/Setoff/Netoff section. Details of the trades can be viewed by clicking on the ContraID. |
Daily Statement and DBS Vickers online trading platform display | Display for Foreign Contra / Net Settlement Contra reference number and the respective contracts used to form Contra will be displayed in the online trading platform My Account > History > Account Activity New section in daily statement – Foreign Contra / Net Settlement Statements will display the Contra reference number and the respective two contracts used to form the Contra. |
Eligibility Requirements
Please review the eligibility criteria below before you proceed.
- An individual online DBS Vickers Account that is currently on GIRO/EPS payment mode or does not use an electronic payment mode.
- An individual DBS Multi-Currency Account (DBS Multi-Currency Account or DBS Multiplier Account or DBS My Account).
- DBS digibank access.
If you do not have digibank access, you can apply for it here.
Link your DBS Vickers Account to a DBS Multi-Currency Account
If you have an existing individual MCA | Step 1: Log in to your DBS Vickers online trading account. Step 2: Follow the steps here to link your DBS Vickers Account to your preferred MCA. |
If you do not have an existing individual MCA | Step 1: Open a new DBS Multi-Currency Account here. Step 2: Log in to your DBS Vickers online trading account. Step 3: Follow the steps here to link your DBS Vickers Account to your new MCA. |
Frequently Asked Questions
What are the prerequisites to opt for settlement via Multi-Currency Account (MCA)?
If you fulfil the following requirement, you will be able to opt for MCA settlement. You will be able to opt-in if you have:
- An individual online DBS Vickers Account that is currently on GIRO/EPS payment mode or does not use an electronic payment mode.
- An individual DBS Multi-Currency Account (DBS Multi-Currency Account or DBS Multiplier Account or DBS My Account).
- DBS digibank access. If you do not have digibank access, you can apply for it here.
What are the eligible Multi-Currency Accounts that can be linked for trade settlement?
An individual DBS Multi-Currency Account or DBS Multiplier Account or DBS My Account.
How do I convert my online DBS Vickers online trading account to MCA settlement?
You will be greeted with a prompt to convert your account to MCA settlement when you log in to your DBS Vickers online trading account. This option to opt-in is only available via www.dbsvickers.com or via digibank online > DBS Vickers Online Trading Platform.
If you choose to skip or close the initial prompt, you will still be able to opt-in again by clicking on the second prompt that will appear right below the navigation menu of the trading platform.
Note: If you do not have an existing DBS MCA, you will be directed to open one before you can convert your DBS Vickers online trading account to MCA settlement.
How long will it take for my account to be converted to MCA settlement?
Your account will be converted within 24 hours after you submit the request to link your MCA to your DBS Vickers online trading account.
How will I know when my account is successfully linked to MCA?
You will first receive a SMS and/or email notification upon submitting the request. Once your account is successfully linked, you will receive a second notification.
Note: To ensure you receive the SMS and/or email notifications, please check and set up your Online Instructions Alert preference. You may log in to your DBS Vickers online trading account > My Profile > Set Alerts to update your alert preferences.
Do I need to terminate my current payment mode after my DBS Vickers online trading account is linked to MCA?
Your existing payment mode (GIRO/EPS) will be automatically terminated after your account is successfully linked to MCA and all outstanding GIRO/EPS contracts are cleared.
Do I receive notification on the termination of GIRO/EPS?
No, there will not be any separate notification on your GIRO/EPS termination.
Can I revert back to GIRO/EPS settlement mode after I have converted to MCA settlement?
No, it will not be possible to revert back to EPS/GIRO payment mode. All individual online Vickers account will require the use of MCA settlement moving forward.
Can I convert my joint DBS Vickers trading account to MCA settlement?
Currently this conversion is only available to individual online account.
Are the commission rates on MCA settlement different from GIRO/EPS settlement?
The cash commission rates are the same for MCA and non MCA settlement. However, cash upfront settlement is available in all markets for trading accounts under MCA settlement. You will get to enjoy lower commission when you settle using cash upfront. For more information on our commission rates, please visit our Pricing page.
How do I settle my trades after I have converted to MCA settlement?
All trade settlement for MCA linked accounts will be settled using the traded currency. Funds in the respective traded currency will automatically be debited for buy trades and credited for sell trades into your linked MCA.
For Cash upfront settlement, you will no longer need to do a top up to your DBS Vickers cash upfront account. You will simply be required to maintain sufficient funds in the respective currency under MCA before you place a Cash upfront trade.
Will I be able to view my order history placed on the previous settlement mode after I have converted to MCA settlement?
Yes. You will be able to view orders of up to 1 year through DBS Vickers online trading platform under My Account > History.
Do I have to stop my trading activities before and during the conversion process?
No, we have designed a seamless journey for our customers with no impact to your trading activities.
How will my outstanding Singapore contract(s) be settled after I convert to MCA settlement?
If there are outstanding contracts pending settlement at the point of conversion, the contracts will be settled using the previous settlement mode (i.e. GIRO or EPS).
If there is GIRO deduction failure or non receipt and/or insufficient EPS payment or other form of payments by Settlement Date + 1 working day, all outstanding contracts will be converted to MCA settlement and trigger for debiting via your specified MCA on Settlement Date + 2 working day and any failure in MCA deduction shall subject to force selling subsequently.
Note: There will be no impact to outstanding contracts on CPF/SRS/Share Financing settlement mode.
How will my outstanding Foreign Market contract(s) be settled after I convert to MCA settlement?
If there are outstanding contracts pending settlement at the point of conversion, the contracts will be settled using the trust funds with us.
If there is insufficient trust funds on Settlement Date, all outstanding contracts will be converted to MCA settlement and trigger for debiting via your specified MCA on Settlement Date + 1 working day and any failure in MCA deduction shall subject to force selling subsequently. Buy and sell contract of the same counter and same settlement currency can form Net or Contra. If one of the contract is of different settlement currency, we shall convert the contract to the traded currency to form Net or Contra.
In the future, you can always perform FX conversion in your MCA to settle the contracts.
If I have pending Unfilled order(s) when I submit the request to convert to MCA, what will be the settlement mode of the order(s) once they are filled?
Depending on when the order(s) is(are) filled. If the order is filled before the actual conversion, the settlement will be on the previous settlement mode. If the order is filled after the account is linked to MCA, the settlement mode will be MCA.
Note: There will be no impact to CPF/SRS/Share Financing settlement mode orders.
What will happen to my funds in my trading account?
Funds in your trading account will be automatically transferred back to your linked MCA, after all foreign market outstanding contract(s) are converted to MCA settlement and Singapore Cash upfront contracts are settled. If there is negative balance owing to us, we shall initiate a 1 time debiting via your MCA.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
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