Stock brokerage to charge monthly service fee

VPS Securities will become the first brokerage to charge a monthly service fee starting July 1.

An office of VPS Securities in Hanoi. Photo courtesy of VPS Securites.

It said the VND27,500 ($1.20) fee would be charged for clients’ use of its trading system and system-related features.

Currently brokerages only collect fees for transactions.

VPS was the top brokerage on the HCM Stock Exchange in the first quarter with a 13.2 percent market share, up 2.4 percentage points quarter-on-quarter.

Its share has constantly been rising in the last two years as it solicits new investors besides lowering the margin interest rate and waiving fees for new clients.

It was also the top brokerage on the Hanoi Stock Exchange last year with a nearly 9 percent market share.

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HCM 45,250 -1,400 -3%
VPS 15,400 -700 -4.35%

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