VPS: Vietnamese securities, margin pricing and SmartOne controls

VPS provides Vietnamese securities brokerage through a main trading account and associated custody account. Cash-equity access uses SmartOne and SmartOne Web; margin and derivatives require the relevant additional account or service approval. The broker’s cash-equity guide directs online applicants to its account-opening portal and also provides branch and telephone routes.[1][16]

The published account-service schedule charges VND27,500 per month, including VAT, for system administration. It waives that charge when net assets are below VND5 million at the measurement time. This is a balance-based account charge: the schedule does not make the waiver depend on how often the client trades. A separate automatic dormancy or account-deactivation timetable was not established.[10]

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VPS combines shares, fund certificates and covered warrants with corporate bonds and exchange futures, supporting its multi-asset classification.[1][6][9]

Private-placement corporate bonds require the client to meet applicable eligibility requirements; account opening alone does not grant unrestricted access. The domestic securities and derivatives services have their own custody and settlement arrangements.[4]

Stated brokerage includes exchange/depository charges; individual taxes can still apply. Monthly custody costs VND0.27 per share, fund unit or warrant. Corporate-bond custody costs VND0.18 per bond, capped at VND2 million per security code monthly.[6]

If the futures trading account lacks cash for its monthly custody charge, the schedule allows VPS to withdraw posted margin to pay it. The minimum can therefore matter even when commission is low. The published VN30 rates should not be extended to every new index contract without a contract-specific fee confirmation.[9]

The 14 January 2026 policy offers eligible new accounts an 8.8% annual margin rate for 90 days from opening the main account, on preferential borrowing up to VND5 billion per client. Eligibility runs from 14 January until further notice; excess borrowing and time after the benefit use ordinary pricing.[8]

The commission-waiver opening cohort ran from 1 January through 31 March 2026 and has ended. Its online shares, fund certificates and warrants received three months’ free brokerage followed by 0.15%. Derivatives waived only the first 20 ordinary contracts daily, charging VND1,000 thereafter, for three months before ordinary fees resumed. Exchange/depository charges and taxes were excluded from the waivers. These are fee/interest concessions, not withdrawable cash grants.[8]

For shares, VPS documents time-conditioned orders (TCO), price-triggered stops, combined stop-loss/take-profit instructions and trailing stops. A satisfied condition creates an ordinary exchange order. TCO can be set for one or several days until execution or cancellation. A trigger is therefore an instruction mechanism: it does not establish a guaranteed fill price, sufficient liquidity, or successful execution after a market interruption. The reviewed material does not establish that every conditional feature persists identically after the app closes or across web versions.[13]

Check the order-status screen before repeating or replacing an instruction. SmartOne distinguishes orders waiting at VPS, orders waiting at the exchange, partial fills and cancellation requests awaiting confirmation. A cancellation request should be reconciled with the final order and trade record. Its web guide also provides date-based order history and money and securities movements under account management. A current universal CSV, spreadsheet or tax-return export was not established.[15]

Cash-equity sale proceeds normally settle T+2 business days across HOSE, HNX and UPCoM. The proceeds are not immediately withdrawable merely because the shares have sold. A sale-proceeds advance provides earlier funds under a separate financing charge. Use the amount available for withdrawal after settlement, outstanding purchases, debt and service charges have been accounted for.[14][7]

The web guide supports bank transfers to registered accounts and other accounts in the client’s own name, plus transfers between the client’s cash and margin subaccounts. These VND routes do not establish a general multi-currency wallet or a foreign-currency conversion spread. Obtain the receiving-account details and VPS’s written transfer requirements before moving holdings.[15]

Outgoing securities transfers: VND30,000 minimum per transfer, VND300,000 maximum per code per transfer. The variable-rate unit is unclear; request a quote.[6]

The account terms permit withdrawal or transfer of unencumbered assets; debts, fees, taxes and restrictions must be resolved before residual assets are released on termination.[4]

The account terms require VPS to keep client money and assets separate from its own and from other clients’ assets. Client cash is tracked in a named subaccount within a dedicated VPS account; the client remains the legal owner of the money and securities. This custody obligation is not a promise to preserve investment value. No verified fixed compensation or insurance limit for this account was established. The agreement also preserves the client’s liability for a shortfall after assets are realized to meet obligations.[4]

After loss of a SmartOTP phone, a client who retains the registered SIM can ask VPS to switch temporarily to SMS OTP and then register the replacement device. Loss of both phone and SIM requires SIM recovery or an approved registered-number change. VPS can temporarily lock login or restrict services at the client’s request; its recovery FAQ says reopening after that lock requires a visit to a VPS desk. It does not publish a universal fixed cash-withdrawal hold after device recovery.[18]

If electronic access fails, the cash-equity guide provides the telephone dealer and branch as alternative instruction routes. Give the dealer the affected account, security, side, quantity and existing order reference, then verify whether an earlier order was accepted before sending a duplicate. The alternative still depends on the dealer, exchange and communications being available.[16][15]

The published electronic agreement requires prompt notification of a transaction or account-change dispute, specifying 24 hours with a force-majeure exception. It first provides for negotiation or mediation, then the competent court at the relevant VPS office. The clause is a contractual notification procedure, not a statement that all statutory remedies expire after one day. Ending the electronic-service agreement requires written notice at least two business days ahead; that step should be distinguished from settling and closing the entire brokerage relationship.[17]

VPS says SmartIndexing began operating in August 2026. The service uses a rules-based stock portfolio, with direct ownership of the shares and VPS handling portfolio management and rebalancing; additional contributions are allocated to the portfolio. This is a managed portfolio arrangement. Before subscribing, obtain the service’s current fee, withdrawal, rebalancing and termination terms, including who handles holdings during an exit. The launch evidence does not establish a social-copy disconnect rule or discretionary AI order authority.[20]

Trade Buddy is a separate SmartPro facility for selecting and following an expert. Its access guide shows expert registration, activation and an order list, together with tools for setting risk rules. It does not explain whether disconnecting cancels pending orders or closes existing futures. Obtain those exit instructions and any subscription charge before activation; do not assume that ceasing to follow an expert flattens the account.[3]

The contracting business is VPS Securities JSC, Công ty Cổ phần Chứng khoán VPS, headquartered in Hanoi. VSDC’s 13 April 2026 notice identifies it as depository member 026 and records licence 120/UBCK-GP of 8 December 2015, amended by licence 41/GPĐC-UBCK of 31 March 2026. The member update became effective on 10 April. Bank transfer arrangements should not be mistaken for a banking licence held by this securities company.[19]

Its 8 October 2026 release reports first-place brokerage shares in the third quarter across HOSE, HNX, UPCoM and derivatives: 11.54%, 18.15%, 14.24% and 33.78%, respectively. These are VPS’s report of the exchanges’ market-share figures, with different market denominators. They explain its national prominence; they do not measure investment results or service quality.[20]

Headquarters

Hanoi, Vietnam