For Cash Buy trades, the funds will be debited from your Multi-Currency Account (MCA). on the date of settlement. Customers will need to ensure that there are sufficient funds in the traded currency in their MCA account on the settlement date.
For Cash Upfront Buy trades, the funds in the respective traded currency needs to be available in your MCA account prior to placing the buy order. The funds will be earmarked in accordance to the contract size of the trade plus charges. You will also enjoy a preferential commission rate when you settle your trades using Cash Upfront.
For Cash trades, you may perform fund conversion via your MCA account in DBS/POSB iBanking. Funds will be debited from your MCA account on the date of settlement. Please ensure that you have sufficient funds in the traded currency in your MCA wallet on settlement date.
For Cash Upfront trades, you may perform fund conversion via your MCA account in DBS/POSB iBanking. Funds will be earmarked in accordance to the contract size of the trade plus charges on trade date, and debited from your MCA account on settlement date. Please ensure that you have sufficient funds in the traded currency in your MCA wallet before placing a trade.
Funds will be debited from / credited to your MCA on settlement day + 1 market day.
Markets | Settlement Date |
---|---|
Australia | T+2 |
Canada | T+1 |
Hong Kong | T+2 |
United Kingdom | T+2 |
United States | T+1 |
Japan | T+2 |
Singapore | T+2 |
Please note that interest may be charged on late payment.
Yes, you will receive an SMS notification alert on the settlement date to inform you of the shortfall of funds in your MCA account.
Please note that if there are insufficient funds in your MCA in the required traded currency, conversion of funds in other available currencies to settle the trades and/or force selling might take place.
To make a switch, please log in to DBS/POSB iBanking, select Invest > DBS Vickers Online Trading. Go to Account Management and click on Switch/Link Existing MCA.
Note: Please ensure you have no outstanding Cash upfront orders/contracts when performing the switch.