Rating Index
Pros
Access to major Vietnamese stock exchanges (HOSE, HNX, UPCoM) with a variety of financial instruments available for trading.
No minimum deposit requirement, allowing for easy entry into trading.
Competitive fees, including no brokerage fees for financial transactions and low commissions for online stock trading.
Cons
Limited access to international markets, restricting investment opportunities for foreign investors.
Foreign residents must open accounts in person, which can be inconvenient and time-consuming.
A demo account is only available on professional trading platforms, limiting practice opportunities for novice traders.
VNDIRECT broker Accounts
VNDIRECT Account Type
VNDIRECT offers several types of trading accounts tailored to meet the diverse needs of investors. These include:
- Basic Account: Designed for trading underlying assets, this account allows clients to manage their investments independently.
- Derivatives Account: Specifically for trading derivative financial instruments such as futures and options.
- Direct Trading Account (DTA): Aimed at professional investors, this account offers reduced fees, including VND 0 per position for certain stocks.
- Discretionary Brokerage Account (DBA): Managed by professional traders on behalf of investors, this account allows for independent buying, selling, and capital management decisions.
- Indirect Investment Capital Account (IICA): Required for foreign investors, allowing them to trade in Vietnamese securities while ensuring compliance with local regulations.
- Open an Indirect Investment Capital Account (IICA):
- Foreign investors need to establish an IICA at any commercial bank licensed for foreign exchange, such as BIDV, HSBC, Standard Chartered Bank, or Deutsche Bank.
- Apply for a Securities Trading Code:
- Required documents include:
- 01 original copy of the securities trading code application form.
- 01 original copy of the letter of authorization for applying for the securities trading code.
- 02 legal notarized copies of a valid passport.
- Open a Securities Trading Account:
- Submit the following:
- 02 original copies of the contract for securities transaction account opening for individual clients.
- 01 original copy of the securities trading code.
- 01 copy of a valid passport.
- 01 original copy of the notarized power of attorney (if applicable).
- 01 original copy of the authorized persons valid passport.
- Appointment of VNDIRECT as the Broker:
- Investors must officially appoint VNDIRECT to manage their trading activities.
- Complete the Account Opening Process:
- After submitting all necessary documents, wait for confirmation from VNDIRECT to finalize the account setup.
VNDIRECT Broker Account Opening Process
To open a securities trading account with VNDIRECT, investors must follow these steps:
This structured approach ensures a smooth and compliant account opening experience for both domestic and foreign investors.
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