Friday 7 December 2018

(Post 64/week 50)Learning investing/trading together part 9:How to purchase a stock part 2?(DBS vickers)

For more information on the various term, please refer to this link

Continue from part 8: How to purchase a stock? (you can read all about it here)

16)Change the account-cash upfront

17)Change the buy action to buy or sell

Some key term to note...

Settlement mode
  • Cash or Cash upfront
  • Choose cash upfront if you are using cash upfront account
Settlement currency

  • The money that you would like to purchase the stock with, for purchasing of US stock(USD) and for purchasing of Singapore stock(SGD)
Stock name

  • Name of the stock itself,in my case it is the STI ETF
Stock Code

  • Stock code as the name implies, SPDR STI ETF(ES3)
Order type
  • The below chart does a good job of explaining the various order type
  • Market order-Buy or sell at the current Ask price(Order get filled immediately)
  • Limit order-Buy or sell at a specific price(Order filled depend on the price you key in, will explain later in the post)
  • There is no stop order for DBS Vickers(correct me if I am wrong)

Order duration
  • A Good for Day order is a limit order good for that business day only. If the order is not filled by the end of the trading day, the order will expire. 
  • This is the order we are going for, for simplicity sake. 
18)Key in the quantity of stock that you would like to buy

SGX(lot size)=100 shares

19)Key in the price that you would like to bid

The price that I would like to bid:$3.095

You may ask why $3.095?

Remember the place order from the last post? (Black circle)

  • The bid price is $3.095(Note: this may not get your order to fulfill instantly and your order will be added to the queue)
  • This is like trying to bargain with a shop seller at a market to buy an item(e.g fish) which the price tag stated as selling for $4, but you want to buy it cheaper at $3.50

Can you bid lower than $ 3.095?

  • Yes, you can put the bid price at $3.094 or $3.00(Note: this may not get your order to fulfill instantly and your order will be added to the queue)
  • This is also like trying to bargain with a shop seller at a market to buy an item(e.g fish) which is stated as selling for $4, but you want to buy it cheaper at $3.50

Can you bid higher than $3.095?

  • Yes, you can put the bid price at $3.100(Note: this will get your order fill instantly because you are purchasing the stock at the selling price(Ask))
  • This is just like buying an item (e.g fish) at a stated price from the shop seller at the market without any question asked, you hand over your money and off you go
What does it mean by having my order added to the queue?
  • Since there is no seller willing to sell(ask) at the price you want(bid), your order is added to a queue
  • A queue is like a database where they store everybody offer whose order is not filled, the order is more likely to fill quickly if you key in the price nearer to their Ask price(selling price)-
  • E.g you key in 3.099 as your price and the Ask price is 3.100(below in the picture

20)Click the confirm order button to place your order(Black circle)

A few more key term to note...

Total contract value

  • The total contract value would be $3.095(the price that I have key in) * 100(quantity) =$309.50
  • I mentioned before in my post a few ago about the DBS Vickers commission
  • Currently, the brokerage fee for DBS cash upfront account is 0.18%, min SGD10
Clearing fee

  • Also mentioned before in this post
  • Total Contract Value(100%)=$309.50
  • Clearing fee(0.0325%)=$0.10
SGX trading fee

  • Total Contract Value(100%)=$309.50
  • SGX trading fee(0.0075%)=$0.02
  • The irony even though, I am doing it DIY...
  • GST is 7% of Comission + Clearing fee + SGX trading fee 
  • GST=7%(the magic number)
  • Commission + Clearing fee + SGX trading fee =100%
  • $10.00 + $0.10+ $0.02=100%
  • 100%=$10.81
  • GST=$0.71
Total Comission and fees

  • Commission + Clearing fee + SGX trading fee + GST=Total Comission and fees
  • $10.00 + $0.10 + $0.02 + $0.71= $10.83
  • Total Comission and fee = $10.83
Indicative total proceed

  • Total Contract value +  Commission + Clearing fee + SGX trading fee + GST=Indicative total proceed
  • $309.50 + $10.00 + $0.10 + $0.02 + $0.71= $320.33
  • Indicative total proceed=$320.33

I will not proceed with the next step as it means that I have purchased a stock. Hope you all learn something from my post, do watch out for my next post:)


  1. Thought I'll drop by and say, nice post! If I was a newbie, this is the kind of step-by-step posts I would love/need to see. Don't worry, even if people aren't commenting, they ARE reading and learning from your post. DBS Vickers cash-upfront is also my preferred tool ;)

    1. Thanks for reading my post,maybe we can exchange tips,hahaha

  2. I am reading. Thanks for posting all this. I'm following all posts from this series.

    1. thanks for reading,glad you enjoy it!

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  3. Nice! This is what I needed! Thanks a lot for the detailed explanation:)

  4. what happened if your bids are still in que yet you decide to cancel, will the charges occur? or how do we amend the bid price?

    1. what happened if your bids are still in que yet you decide to cancel, will the charges occur?

      the charges will not occur if you cancel your order,unless your bid are partially fill

      simply put,no charges will occur

      How do we amend the bid price?

      you will have to go to the order status,which is under the trade column to edit your bid price

      hope this helps!

  5. Hi, thanks for your post, it is very informative. In your previous post, you mentioned that the minimum to put in is 5555.55 to maximise the sgd10 or 0.18% charge. Is that a fee charged everytime a transaction is made? Ie. If i buy stock A for a total of $300 and stock B for $1000, they charge sgd10++ per transaction?

    1. hi,sry actually it is 0.12% or sgd 10 whichever is higher,have updated in my previous post

      so in your case for stock A and B
      (300/100)* 0.12 = $0.36
      (1000/100) * 0.12 = $1.20

      since $10 is higher than $0.36(stock A) and $1.20(stock b),yes you will be charge 10++ per transcaction,hope his helps!:)

  6. Thanks!! So happy i found such a useful guide.. was having problem using dbs vickers before

  7. This comment has been removed by the author.

  8. hi, may i ask if i seleted cash instead of cash upfront. How do I make the payment

    1. For cash upfront you have to transfer money intoyour brokerage acc ,you may think of the brokerage acc as another bank account that you must transfer to before you can purchase stock using cash upfront

  9. Hi, Thanks for the post. I am having problems with topping up of account. It states "We are unable to proceed with a cash top-up request; please settle your trades with your existing settlement arrangement via your designated Multi-Currency Account. (88807)". Do you know how to go about with this?

    1. Hi for mca it should be the i did not use a mca,do check with dbs by calling the hotline or via online chat

  10. After 3rd day of buying the stock, the shares go into your CDP account right? So if I want to sell, I can no longer use the sell in Cash Upfront.. do I sell thru the Cash account and they automatically deduct the shares in my CDP? thank you for your sharing, really appreciate it

    1. Yes after 3 day the stock will go into your cdp acc and you will have to sell through your cash account

  11. The minimum bid I want to enter goes beyond the "minimum bid spread". Can you please explain?
    For example: An SGX traded stock is currently trading at SGD 20. I want to bid for 100 lots at SGD 15. DBS does not accept the order because it is not within the minimum bid spread.

    1. Hi sry for the late reply , i am unable to find any information regarding it.But when i purchase stock i cannot bid a price more or less than 3% from the current bid price so e.g for a stock trading at 20 dollar,i can only bid from 19.40(97%) to 20.60(103%)

      i am also not sure regarding this ,do check with DBS or call their hotline for more info:)

  12. Hi, good info you have provided. May I know do you use MCA ? Why do we need it and what is the purpose of having it?

    1. Hi, In my opinion,a mca is just account that can allow you to store different currencies usd and sgd? unlike the normal bank account which only store one currencies. In my case, i did not use a mca,do check with dbs by calling the hotline or via online chat :)

  13. Hi, do DBS Vickers account has a stop loss order feature? Exp i bought a share @ $3.00 wanted to hold for long terms. Price now go up to $5, it might go higher or lower in future.(Just don't have time to monitor everyday) Can i do a limit sell @ $4.50 just to safe guard myself. Will the limit sell fills instantly due to current price @ $5 or it will only fills when the price drop to $4.50. Lastly what is short sell order? Thanks in advance.

  14. If I buy 10 lot of stock X today at $1. DBS transactional fee is $25. What if I sell the stock before the 3 days the stock goes into my CDP? Do I still need to pay for the transaction fees? What r the fees I need to pay if I sell the stock before the stock reach my CDP acct.

    1. hi sry for the late reply,the DBS transactional fee is $25,hence buy n sell=$50

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  17. I just start investing and find your blogs very helpful. Thank you for taking the time to write down everything step by step.

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