DBS Vickers Securities Account Type

DBS Vickers Securities offers various types of trading accounts tailored to meet the needs of different investors. The primary account types include:

• General Investor Account: This is the standard account for clients, allowing access to a wide range of trading options. It can be further divided into:
• Cash Balance Account: Requires 100% upfront funds for trading.
• Cash Account: Allows for margin trading with a minimum upfront requirement of 20% of the purchasing power.

• Young Investor Account: Designed for clients aged 18 to 25 years, offering reduced commission rates for trading in foreign markets. This account automatically converts to a General Investor Account when the account holder turns 26.

• CDP Securities Account: Necessary for trading on the Singapore Stock Exchange (SGX), this account acts as a custodian for shares.

• CPF/SRS Investment Account: Required for clients wishing to trade using CPF or SRS funds.

DBS Vickers Securities Broker Account Opening Process

To open a trading account with DBS Vickers Securities, follow these steps:

• Eligibility Criteria:
• Must be at least 21 years old (or between 18 to 20 for the Young Investor Account).
• Must be a Singapore tax resident.
• Must hold an existing DBS/POSB current or savings account.
• Application Methods:
• Online Application: Log into your DBS/POSB ibanking account or the Digibank app and select the option to apply for a DBS Vickers online trading account.
• Paper Application: Download the application form, complete it, and submit it along with supporting documents using the provided business reply envelope.
• Required Documents:
• For Singaporeans/PR: A copy of NRIC (front and back).
• For Foreigners: A valid passport copy, proof of residential address, and employment pass if applicable.
• Processing Time:
• Online applications are processed within 3 to 5 working days.
• Paper applications typically take 5 to 7 working days.

• Account Activation: Upon successful opening, you will receive your account number and password via email and post, respectively.

• Linking CDP Account: If trading in SGX, a Central Depository (CDP) account must be linked to your trading account.

By following these steps, you can successfully set up your trading account and start trading with DBS Vickers Securities.