OCBC Securities-Overview of Minimum Deposit, Leverage, Spreads

General Information

OCBC Securities is allegedly a broker, based in Singapore and founded in 2004 that provides its clients with different trading platforms for different tradable assets, and a choice of five account types.

Market Instruments

OCBC Securities advertises that it offers a wide-variety of trading instruments in financial markets, including securities, bonds, leveraged futures, leveraged forex and precious metals. Some other trading assets like shares, ETFs and specified investment products are also available.

Account Types

There are five trading accounts offered by OCBC Securities, apart from demo accounts, namely Basic Trading Account for securities, Leveraged Futures Account, Leveraged Forex Account, Share Financing Account and Share Borrowing Account for leveraged trading.

Leverage

The maximum leverage ratio offered by OCBC Securities is up to 1:35. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.Spreads & Commissions

OCBC Securities‘ official site doesn’t directly disclose any information about spreads and commissions without login. According to the information displayed on the Internet, however, we found that the broker provides average spreads from 0.9 pips for Leveraged Forex Account, yet we have no way to verify it.

Trading Platform Available

When it comes to trading platforms available,OCBC Securities gives traders five choices: iOCBC and iOCNC Pro for securities trading, iOCBCfx and iOCBCfx Pro for forex trading, and futures trading platform. The broker says that traders can trade with a computer or mobile devices like smartphone, thus they can trade anywhere and anytime.

Deposit & Withdrawal

OCBC Securities accepts payment methods via GIRO Service, Electronic Payment for Shares, Internet bill payment and telegraphic transfer. GIRO Service is available for bank including OCBC, DBS/POSB and UOB. A telegraphic transfer usually requires 1-2 working days to process.

Fees

Also, OCBC Securities charges some fees containing custodian fees and handling fees. To be more specific, it charges foreign custodian fees of $2 per counter, handling fees of 1% on net dividend (min S$3, max S$50) and 7% GST or equivalent for cash dividend, and $10.70 (inclusive of GST) or equivalent for other handling fees.

Customer Support

OCBC Securities customer support can be reached through phone: 1800 338 8688 (Local), +65 6338 8688 (Overseas), email: cs@ocbcsec.com. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, YouTube and LinkedIn. Company address: 18 Church Street #01-00 OCBC Centre South Singapore 049479.