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

  • Higher efficiency and more timely settlement of contracts

    Two or more contracts of the same counter can be settled using Net or Contra.

  • 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 1000
    Outstanding sell contract value of AAPL: USD 500
    USD 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.

  1. An individual online DBS Vickers Account that is currently on GIRO/EPS payment mode or does not use an electronic payment mode.
  2. An individual DBS Multi-Currency Account (DBS Multi-Currency Account or DBS Multiplier Account or DBS My Account).
  3. 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

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:

  1. An individual online DBS Vickers Account that is currently on GIRO/EPS payment mode or does not use an electronic payment mode.
  2. An individual DBS Multi-Currency Account (DBS Multi-Currency Account or DBS Multiplier Account or DBS My Account).
  3. DBS digibank access. If you do not have digibank access, you can apply for it here.


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.


Your account will be converted within 24 hours after you submit the request to link your MCA to your DBS Vickers online trading account.


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.


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.


No, there will not be any separate notification on your GIRO/EPS termination.


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.


Currently this conversion is only available to individual online account.


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.


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.


Yes. You will be able to view orders of up to 1 year through DBS Vickers online trading platform under My Account > History.


No, we have designed a seamless journey for our customers with no impact to your trading activities.


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.


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.


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.


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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