VNDIRECT’s account arrangement changes the price of the same market exposure. DTA charges 0.10% for online cash-securities transactions, whereas DBA prices dedicated broker support through turnover bands and negotiated exceptions. The firm also offers margin borrowing and listed derivatives, whose collateral tests differ substantially. Its newer DTrade workspace adds detailed order controls alongside the established web and mobile services.[1][2][8][7][11]
Broker essentials01
VNDIRECT Securities at a glance
| Measure | Value | Context |
|---|---|---|
| Contracting entity | VNDIRECT Securities Corporation | Source 13 |
| Market membership | VSDC code 021; general derivatives clearing member; normal status shown | Source 13 |
| DTA cash-securities dealing | 0.10% online; 0.30% through the call centre | Source 1 |
| DBA service | Dedicated broker; standard daily-turnover rates 0.20%–0.35%, with qualified 0.15% pricing | Source 2 |
| D-Margin interest | 13.5% a year from 14 April 2026, subject to later changes | Source 9 |
| Foreign onboarding | IICA, securities trading code and brokerage documentation | Source 4Source 5 |
| Withdrawals | Registered beneficiary; different daytime, overnight and futures windows | Source 6 |
Account types and onboarding
Sections ↑At a glance02
Service arrangements
| Account or service | Purpose | Cost distinction |
|---|---|---|
| DTA | Self-directed securities dealing | Online and call-centre rates differSource 1Source 2Source 7 |
| DBA | One-to-one broker support | Turnover tiers and specific preferential criteriaSource 1Source 2Source 7 |
| Derivatives subaccount | Listed futures with margin and daily settlement | Separate activation and clearing chargesSource 1Source 2Source 7 |
At a glance03
Foreign individual account sequence
| Step | Required arrangement |
|---|---|
| Banking | Open an indirect investment capital account at an eligible bankSource 4 |
| Securities trading code | Application, authorisation and two notarised passport copiesSource 4 |
| Brokerage agreement | Two originals of the account contract, trading-code record and passport copySource 4 |
| Authorised representative, if used | Additional power of attorney and representative identificationSource 4 |
At a glance04
Foreign institutional onboarding
| Component | Requirement |
|---|---|
| Bank and custody | IICA plus custody account with a custodian memberSource 5 |
| Institutional identity | Legal registration or fund-establishment documents and representative identificationSource 5 |
| Trading code | Application and authority for registration; notarisation/translation requirements applySource 5 |
| Representation | Additional appointment or power-of-attorney documents where a trading representative actsSource 5 |
| Broker appointment | Separate brokerage appointment and account contractSource 5 |
At a glance05
Activating derivatives
| Requirement | Practical effect |
|---|---|
| Electronic derivatives contract | Registration alone does not replace activation by the clearing processSource 7 |
| VSDC activation | Trading follows activation of the relevant accountSource 7 |
| Withdrawal access | Identity verification must be completedSource 7 |
| Cash location | Broker derivatives subaccount and CCP collateral balances serve different functionsSource 7 |
Products and account scope
Sections ↑At a glance06
Available investment routes
| Product | Economic exposure | Relevant distinction |
|---|---|---|
| Vietnamese shares and funds | Exchange securities ownership | DTA/DBA commissionsSource 1Source 2 |
| Covered warrants | Issuer-linked derivative security | Own-issued warrant fee exemption differs from other issuersSource 1Source 2 |
| Listed and private-placement bonds | Issuer credit exposure | Counterparty and trading venue affect commissionSource 1Source 2 |
| Index and government-bond futures | Margined listed contracts | Exchange, clearing and collateral-management chargesSource 1Source 2 |
At a glance07
Margin product terms
| Product | Published interest | Loan period |
|---|---|---|
| D-Margin | 13.5% a year | 90 days, with one automatic extension under the guideSource 8Source 9 |
| T10 | First 10 days interest-free; Vietnamese guide says 16% a year thereafter | 90 daysSource 8Source 9 |
| T15 | 6.8% a year for first 15 days; 15% thereafter | 90 daysSource 8Source 9 |
The English interest page still quotes 14.85% a year after T10’s first ten days, while the Vietnamese product and support pages quote 16%. Confirm the rate in the accepted T10 agreement before borrowing. Interest runs through weekends and holidays; overdue interest is stated as 150% of the applicable in-term rate.[8][10]
Commissions, financing and custody
Sections ↑At a glance08
DTA dealing channels
At a glance09
DBA daily-turnover schedule
| Daily transaction value per account | Commission |
|---|---|
| Below VND80m | 0.35%Source 2Source 3 |
| VND80m to below VND250m | 0.30%Source 2Source 3 |
| VND250m to below VND400m | 0.25%Source 2Source 3 |
| VND400m and above, standard tariff | 0.20%Source 2Source 3 |
| At least VND800m, qualifying preferential tariff | 0.15%Source 2Source 3 |
A separate chief-customer-officer-approved DBA trial can also start at 0.15%, for no more than six months before reverting to standard pricing. An old April 2024 waiver still visible on the page is not a current permanent offer.[2]
At a glance10
Bond commissions
At a glance11
Covered-warrant pricing
| Issuer and arrangement | Published treatment |
|---|---|
| Warrant issued by VNDIRECT | Buy/sell commission and custody waived under the detailed tariffSource 1Source 2 |
| Other issuer, DTA | 0.10%Source 1Source 2 |
| Other issuer, DBA | Applicable cash-securities tierSource 1Source 2 |
| Pre-agreed pricing | May override the general warrant scheduleSource 1Source 2 |
At a glance12
Futures broker commission
At a glance13
Futures infrastructure charges
| Charge | Basis |
|---|---|
| Index-futures exchange charge | VND2,700 per contractSource 1Source 7 |
| Government-bond-futures exchange charge | VND4,500 per contractSource 1Source 7 |
| Clearing | VND2,550 per matched-position/novated contractSource 1Source 7 |
| Collateral management | 0.0024% of cumulative daily collateral balances; monthly minimum VND100,000, maximum VND1.6mSource 1Source 7 |
At a glance14
Custody and outbound transfers
| Service | Published charge |
|---|---|
| Shares, fund certificates and covered warrants | VND0.27 per unit per month, subject to the own-warrant exemptionSource 3Source 1 |
| Corporate bonds | VND0.18 per bond per month, cap VND2m per code per monthSource 3Source 1 |
| Transfer to another depository member or on closure | VND0.3 per security per transfer per code; cap VND300,000 per code per transferSource 3Source 1 |
| Broker custody component | Waived; VSDC charges remainSource 3Source 1 |
At a glance15
Securities blocking
| Instruction | Broker fee | Additional component |
|---|---|---|
| Secured-transaction registration | 0.05% of par value; min VND500,000/max VND5m per code | Applicable VSDC fee, additional to the VNDIRECT amount in the preceding columnSource 1 |
| Voluntary blocking: equity/fund/warrant | 0.05% of par value; min VND500,000/max VND5m per transaction | Applicable VSDC fee, additional to the VNDIRECT amount in the preceding columnSource 1 |
| Voluntary blocking: bonds/debt | 0.005% of par value; same min/max per transaction | Applicable VSDC fee, additional to the VNDIRECT amount in the preceding columnSource 1 |
| Release or security-registration change | Broker component waived | VSDC charge if applicableSource 1 |
The detailed custody schedule excludes VAT. The blocking percentages above are VNDIRECT charges; applicable VSDC charges are additional. Waiving the broker’s release fee does not waive a depository charge.[1]
Platforms, orders and margin controls
Sections ↑At a glance16
Web and mobile tools
| Platform | Documented role |
|---|---|
| DTrade at station.vndirect.com.vn | Configurable workspaces, linked widgets, order entry, order book and account reportsSource 11 |
| DBoard at trade.vndirect.com.vn | Established web price-board interface; accessible alongside DTradeSource 11 |
| DGO and DStock | DGO covers investment services; DStock focuses on securities and derivatives tradingSource 7 |
| Lightning | Derivatives web trading route in the operating guideSource 7 |
At a glance17
DTrade order tools
| Tool | Published function | Operational implication |
|---|---|---|
| Cash-securities entry | Limit, supported market/auction instructions and stop-limit | Availability depends on instrument and market sessionSource 11 |
| Derivatives entry | Also trailing stop-limit and OCO | Linked/conditional orders still need execution monitoringSource 11 |
| Order book | Status, amend, cancel and bulk cancel | A cancel instruction is not itself proof that execution was avoidedSource 11 |
| One-click setting | Bypasses preview | The final buy/sell action sends the instruction immediatelySource 11 |
At a glance18
Workspace persistence
| Setting | What is retained |
|---|---|
| Save workspace | Layout, positions, sizes, filters, widget links and selected symbolsSource 11 |
| Autosave enabled | Changes save automatically to the current custom workspaceSource 11 |
| Autosave disabled | Changes remain temporary until savedSource 11 |
| Default workspace | System configuration has different editing/storage restrictionsSource 11 |
At a glance19
Cash-equity margin collateral test
| Measure | Published rule |
|---|---|
| Loan-to-security funding ratio | 10%–50%, depending on the eligible securitySource 8 |
| Rtt calculation | Haircut-adjusted collateral divided by debt net of cash and receivablesSource 8 |
| Initial Rtt | 100%Source 8 |
| Maintenance Rtt | 90%Source 8 |
| Processing/liquidation threshold | 85%Source 8 |
These Rtt percentages are the broker’s collateral-to-net-debt formula, not a claim that a client can borrow 100% of an ordinary share portfolio. Eligible stocks, lending prices and haircuts determine actual buying power. Cash is swept to repay debt at day-end, prioritising the earliest-maturing debt.[8]
At a glance20
Derivatives risk thresholds
At a glance21
Daily derivatives settlement
| Event | Cash consequence |
|---|---|
| Daily profit | Normally credited the following morningSource 7 |
| Daily loss | Debited from available cashSource 7 |
| Insufficient cash creates overdraft | Must be covered by 13:00 on the next trading day under the guideSource 7 |
| Unpaid shortfall | Collateral withdrawal or forced closeout may followSource 7 |
Deposits, withdrawals and collateral
Sections ↑At a glance22
Cash-securities withdrawal windows
| Instruction time | Limit or restriction |
|---|---|
| 08:00–16:00 on working days | No channel cap stated; available cash and account restrictions still applySource 6 |
| 16:00–08:00 next working day | Maximum VND499,999,999 per instruction and VND999,999,999 per customer across accountsSource 6 |
| Monthly processing break | 24/7 withdrawals unavailable after 16:00 on the last working day of the month until 08:00 on the first day of the next monthSource 6 |
| End-of-day system processing | Instructions queue until processing finishesSource 6 |
At a glance23
Beneficiary and arrival rules
| Condition | Published treatment |
|---|---|
| Beneficiary | Previously registered bank account and OTP authenticationSource 6 |
| ACB, BIDV, VCB, VIB and VTB routes | Normally immediate, subject to processing or system faultsSource 6 |
| Other banks, transfer below VND500m | Normally immediate under the guideSource 6 |
| Other banks, transfer at least VND500m | May take up to one working daySource 6 |
| Broker transfer fee | Currently waivedSource 6 |
For a customer registered for margin, a transfer above the available cash amount can automatically create debt. Check cash available for withdrawal rather than relying on portfolio value or buying power. Futures withdrawals have a separate 08:00–16:00 trading-day window.[6]
At a glance24
Derivatives collateral handling
| Point | Rule |
|---|---|
| Intraday deposits | Paid into the broker derivatives subaccount under the KRX processSource 7 |
| CCP funding | Shortfall is transferred to the clearing account during the stated end-of-day/next-morning processSource 7 |
| Minimum reserve | The guide retains VND100,000 for monthly collateral-management costsSource 7 |
| Initial margin illustration in current guide | 17% exchange baseline and 21.25% broker safety requirement; confirm the live contract/product requirement before openingSource 7 |
Oversight, access control and investment risk
Sections ↑At a glance25
Official regulatory record
| Item | Detail |
|---|---|
| SSC original licence | 22/UBCK-GPHĐKD, 16 November 2006Source 13Source 14 |
| Licence amendment shown by VSDC | 70/GPĐC-UBCK, 20 August 2025Source 13Source 14 |
| Clearing membership | VSDC code 021, general clearing member; normal status shownSource 13Source 14 |
| Later clearing certificate | 04/GCNTVBTPS-8, issued 28 August 2025Source 13Source 14 |
VSDC reprimanded VNDIRECT in decision 66/QĐ-VSDC dated 24 June 2025 after 15 investor accounts lacked sufficient required collateral by the monitoring deadline on 23 June. This was a reprimand concerning collateral compliance; the currently inspected membership page still shows normal status.[15][13]
At a glance26
Smart OTP and recovery
| Situation | Documented rule |
|---|---|
| Device registration | Smart OTP can be registered on only one deviceSource 12 |
| Move to a new device | Register again; Smart OTP stops working on the old deviceSource 12 |
| Authenticate web activity | Obtain the Smart OTP through the VNDIRECT or DStock appSource 12 |
| OTP failure | Check connection and registered contact details, then contact supportSource 12 |
Support and transaction problems
Sections ↑Records and investor tools
Sections ↑At a glance28
Documents and confirmations
| Request | Charge |
|---|---|
| File extract | Free in the FAQSource 3 |
| Account statement | VND50,000 for the first ten pages; VND3,000 per additional page, maximum VND500,000 per statement; VAT additionalSource 3 |
| Balance confirmation | VND50,000 first copy and VND10,000 each additional copy, with the stated VND500,000 cap; VAT additionalSource 3 |
At a glance29
Account-report tools
| Report group | Available information |
|---|---|
| DTrade account reports | Assets, account statement, portfolio overview, debt and margin requirementsSource 11Source 7Source 8 |
| Derivatives account | Positions, collateral and daily settlement informationSource 11Source 7Source 8 |
| Loan administration | Debt repayment and collateral ratios require separate monitoring from stock profit/lossSource 11Source 7Source 8 |
Company and account identity
Sections ↑At a glance30
Identity references
| Reference | Meaning |
|---|---|
| Operating company | VNDIRECT Securities CorporationSource 13Source 1Source 2Source 11 |
| VSDC member code | 021; VDS is the member abbreviationSource 13Source 1Source 2Source 11 |
| Head office in the member record | 1 Nguyen Thuong Hien, Hai Ba Trung ward, HanoiSource 13Source 1Source 2Source 11 |
| DTA, DBA and DTrade | Service or platform labels, not different licensed companiesSource 13Source 1Source 2Source 11 |
- Headquarters
- Vietnam
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
VNDIRECT Securities Corporation
VietnamSource 13
No separate licence entry is recorded in this panel.
When the differences matter
Sections ↑At a glance31
Decision points
| Intended use | Compare before committing |
|---|---|
| Self-directed shares | DTA’s lower online price against the service included with DBASource 1Source 2Source 8Source 7Source 4Source 6 |
| Leveraged short holding period | T10/T15 introductory days against the higher subsequent rateSource 1Source 2Source 8Source 7Source 4Source 6 |
| Frequent futures trading | Per-contract costs plus the monthly minimum collateral feeSource 1Source 2Source 8Source 7Source 4Source 6 |
| Foreign investing | Bank/custodian documentation and securities trading code before expecting app-only activationSource 1Source 2Source 8Source 7Source 4Source 6 |
| Cash withdrawal while margined | Whether the instruction will create or increase a loanSource 1Source 2Source 8Source 7Source 4Source 6 |
Sources & further reading
- VNDIRECT DTA transaction and custody tariff VNDIRECT Securities · Accessed 29 Oct 2026
- VNDIRECT DBA transaction and custody tariff VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT current service-fee FAQ VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT foreign individual account requirements VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT foreign institutional account requirements VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT withdrawal windows, limits and banking routes VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT derivatives operating guide VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT margin products, interest, collateral ratios and repayment VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT D-Margin interest change effective 14 April 2026 VNDIRECT Securities · Accessed 29 Oct 2026
- VNDIRECT English margin interest schedule VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT DTrade platform and order-control guide VNDIRECT Securities · Accessed 27 Oct 2026
- VNDIRECT Smart OTP registration and device rules VNDIRECT Securities · Accessed 27 Oct 2026
- VSDC member 021: VNDIRECT Vietnam Securities Depository and Clearing Corporation · Accessed 27 Oct 2026
- VSDC revised VNDIRECT clearing certificate, 28 August 2025 Vietnam Securities Depository and Clearing Corporation · Accessed 27 Oct 2026
- VSDC reprimand of VNDIRECT, decision dated 24 June 2025 Vietnam Securities Depository and Clearing Corporation · Accessed 27 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.