I ditched DBS Vickers 7 years ago, but till today, with little improvements, they still have customers.
Many people “feel safe” because they are big banks.
They won’t cheat you. But you can still be scammed.
They won’t bankrupt. Or maybe they can.
Everything has risks.
As a retail investor..
If you trade big (eg. above $20,000 each time), then paying $25 for each trade is ok.
But if you are clueless like me, and has to dollar cost average, then $25 for a $1,000 trade is a ridiculous 2.5% fee.
What’s more, if you buy foreign shares, Vickers charge $2 per month per stock counter 😮
Small retail investors should just use Tiger or Moomoo.
CDP vs Custodian account
Here are reasons why you need CDP account:
- you want to cast your vote
- you have LARGE holdings of Singapore shares
- you want to attend AGM in person
- you want to eat free buffet