DBS Vickers is one of the larger Singapore stock brokers and also offers accounts in Hong Kong. The service is apparently mostly the same for both sets of clients, but some fees vary depending on where your account is based – where this is the case, both terms are indicated below.
Non Hong Kong residents are likely to be steered towards a Singapore account, but of the available Singapore brokerages DBS Vickers seems one of the less interesting choices for the international investor. Its main selling point was the absence of custody fees on foreign stocks, but even this has recently been abandoned.
When I’ve approached the firm for information, customer service has been good enough but representatives at OCBC Securities and Phillip Securities seem more alert. I’d suggest international investors looking for a Singapore account start there.
For local investors in Singapore, it’s worth being aware that SGX equity purchases made through DBS iBanking with upfront cash settlement are charged at a lower rate of 0.18% with a minimum of S$18 (sales cannot be done on the same terms, unless the sale is made quickly before the T+3 settlement cycle is complete). This is one of the lower rates among local brokerages, but Standard Chartered and the Singapore arm of Saxo Bank will probably work out slightly cheaper for most investors.