According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 1 VND
- DBOARD
- PROTRADE
- DSTOCK
- VNDIRECT Financial Investments (mobile)
- 1:1
- Trading on Vietnamese stock exchanges without a minimum fee
Our Evaluation of VNDIRECT
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
VNDIRECT is a moderate-risk broker with the TU Overall Score of 6.11 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by VNDIRECT clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
VNDIRECT is a major player in the Vietnamese stock market, offering a comprehensive suite of services including brokerage, asset management, and investment consulting.
Brief Look at VNDIRECT
VNDIRECT is a securities broker, incorporated in 2006 by IPA Investment Group, a Vietnamese bank holding company. VNDIRECT’s stocks are listed on the Ho Chi Minh Stock Exchange (HOSE) under the VND ticker. As a HOSE member, the broker is regulated by the State Securities Commission of Vietnam (SSC). Additionally, VNDIRECT offers access to the Hanoi Stock Exchange (HNX) and the Unlisted Public Company Market (UPCOM). The broker services individual and institutional clients from Vietnam and other countries. It focuses on securities trading, capital management, and investment consulting.
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- No litigations regarding violation of the broker’s obligations or penalties from the regulator;
- Licensed brokerage and investment activities;
- Access to major and alternative stock exchanges in Vietnam;
- Securities and derivatives trading is supported;
- Fees of 0.15% of the trade amount apply to online stock trading;
- No brokerage fees for financial transactions;
- Trading is conducted 24/7;
- Margin funding with a minimum interest rate of 0% is available.
- No access to international securities and derivatives markets;
- Foreign residents can open live accounts only in the broker’s office by providing a package of documents;
- A demo account is only available on platforms for professional traders.
TU Expert Advice
Financial expert and analyst at Traders Union
VNDIRECT caters exclusively to the Vietnamese securities and derivatives markets, granting clients access to HOSE, HNX, and UPCOM exchanges. The variety of stock exchanges and tradable instruments allow the broker’s clients to diversify their portfolios and expand their investment opportunities.
The broker prioritizes building a comprehensive, reliable, and user-friendly investment ecosystem. Throughout its history, VNDIRECT has consistently enhanced its offerings by introducing new analytical tools, advanced platforms, and informative educational courses. Notably, 2015 saw the launch of their user-friendly mobile apps for Android and iOS, granting direct access to Vietnamese stock exchanges.
While VNDIRECT doesn’t offer access to international stock exchanges, the conditions for trading on Vietnamese markets are quite competitive. The broker offers advanced trading platforms with in-built analytical tools that allow investors to quickly identify assets that are currently the most promising in the market or experiencing the greatest price changes.
VNDIRECT Summary
Your capital is at risk. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
| 💻 Trading platform: | DBOARD, PROTRADE, DSTOCK, and VNDIRECT Financial Investments (mobile) |
|---|---|
| 📊 Accounts: | Basic Account, Derivatives Account, DBA, Direct Trading Account (DTA), and Indirect Investment Capital Account (IICA) |
| 💰 Account currency: | VND |
| 💵 Deposit / Withdrawal: | Bank transfers, broker's offices, and partner banks' cash desks |
| 🚀 Minimum deposit: | VND 1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 1 security |
| 💱 EUR/USD spread: | Stock exchange |
| 🔧 Instruments: | Stocks, bonds, ETFs, mutual funds, stock indices, covered warrants, futures, and options |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Exchange |
| ⭐ Trading features: | Trading on Vietnamese stock exchanges without a minimum fee |
| 🎁 Contests and bonuses: | Occasionally |
VNDIRECT clients can place conditional orders on securities 24/7 that are automatically closed at the end of a trading day. Traders who work with limit orders can place good-till-date (GTD) multi-day orders. The broker provides funding for margin trading with fees of 8%-13% per annum or 0.0364%-0.041% per day subject to the chosen package.
VNDIRECT Key Parameters Evaluation
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Trading Account Opening
MyDGO is a feature for managing information on accounts and assets. Only existing clients with active trading accounts gain access to it. The procedure for account opening for Vietnamese residents is as follows:
Go to the VNDIRECT website and click the button to start opening the account in the right top corner of any page.
Fill in the registration form by entering your ID number and creating a username and password. Next, provide your personal information as it appears in your documents, including your phone number and email. Confirm your phone number, fill out the user profile, and upload the required documents for identity verification.
Foreign residents are classified as foreign investors for whom only the Indirect Investment Capital Account is available. This account type is opened offline in the broker’s office. To see the list of the required documents, change the interface language to English and click the “Opening Account” button in the menu.
Regulation and safety
VNDIRECT has been a HOSE member since 2006. It obtained a license from the SSC of Vietnam the same year. In 2023, SSC edchang the broker’s license, giving it a new 101/GPĐC-UBCK number.
VNDIRECT is authorized to provide brokerage and custodian services, consult its clients on investment products and instruments, and manage trader assets. Moreover, the broker assists companies with capital raising services through the issuance of securities on financial markets.
Advantages
- SSC license is available
- Traders have access to the broker’s financial information
- Vietnamese traders can file complaints against the broker directly with the regulator
Disadvantages
- VNDIRECT doesn’t participate in any compensation funds
- Foreign investors cannot directly deposit their funds into a trading account
- To open an account, it is required to confirm your source of income
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Basic Account | 0.15% of the trade amount | No |
| Derivatives Account | VND 4,000 | No |
| DBA | 0.15% of the trade amount | No |
| DTA | VND 0 for certain stocks | No |
Traders can subscribe to the Recommended Stocks package. This service costs VND 168,000 per month, VND 368,000 per 3 months, or VND 968,000 per year.
The table below provides VNDIRECT’s average fees as compared to popular Forex brokers that focus on over-the-counter markets.
Account types
To start investing through VNDIRECT, open a suitable account type. Available account types differ in trading conditions, available assets, and opening method.
Account types:
VNDIRECT empowers investors with a comprehensive suite of services, encompassing brokerage, asset management, and investment consulting. Their focus on the Vietnamese market allows clients to trade various financial instruments across HOSE, HNX, and UPCOM exchanges. VNDIRECT even offers a no-cost way to practice derivatives trading with their PROTRADE Trial version, complete with VND 40,000 of virtual funds. Once comfortable, traders can seamlessly switch to a live account and start building their real-world portfolios.
Deposit and withdrawal
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Online withdrawal requests can be submitted at any time through the mobile app or user account.
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Traders can also request withdrawals via phone or by visiting the broker’s office on weekdays from 08:00 to 11:45 and from 13:00 to 16:00 (GMT+7). Moreover, cash withdrawals are available at partnering banks, including Vietinbank, Sacombank, VCB, MSB, BIDV, TCB, VPB, ACB, OCB, and VIB.
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Any amount can be withdrawn from 08:00 to 16:00 Monday through Friday. From 16:00 to 08:00, the maximum amount is VND 499,999,999.
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Withdrawals are instant for any amounts using accounts with partnering banks or up to VND 500 million using accounts with other banks. Withdrawals exceeding VND 500 million take 1 business day.
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VNDIRECT doesn’t charge withdrawal fees.
Investment Options
VNDIRECT specializes in investment programs and is licensed to provide consulting services. Its clients can choose to entrust professionals to make investment decisions for them paying for capital management services or to use expert recommendations when independently trading assets.
Capital management services offered by VNDIRECT
VNDIRECT offers a popular solution for investors seeking professional guidance: the Discretionary Brokerage Account (DBA). This trust management account empowers experienced managers to make independent buying, selling, and capital management decisions on your behalf, all while adhering to your pre-defined goals and strategies. This approach allows VNDIRECT's brokers to make prompt choices based on evolving market conditions and investment objectives, eliminating the need for your approval on every trade.
Also, the broker offers the following models of portfolios:
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DBOND. It includes corporate bonds with an interest rate from 8.9% to 11.8% subject to the holding period. The investment period ranges from 30 days to 12 months. The minimum investment is VND 10 million.
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VBOND. This portfolio consists of bonds issued by financially stable Vietnamese companies with a high market cap. The annual interest rate is 10%-11.5%. The minimum investment is VND 10 million with a minimum investment period of 6 months.
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DPORTFOLIO. This is a stock portfolio available in three options: stocks of the 5 largest corporations in Vietnam, companies with the highest dividend payments, or small or medium-sized enterprises with growth potential.
VNDIRECT offers consulting service packages to cater to different investor preferences. The DSTOCKPICK package, ideal for short-term strategies, provides subscribers with at least 10 stock buy or sell recommendations monthly. Additionally, VNDIRECT offers a package focused on options trading, delivering investment ideas and recommendations suitable for clients with investment horizons exceeding 6 months.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership programs from VNDIRECT:
The broker doesn’t have active partnership programs.
Customer support
Traders can get assistance on any questions during the broker’s working hours. Existing clients and non-registered clients can contact technical support from 08:00 to 17:00 (GMT+7) Monday through Friday.
Advantages
- Various communication channels are available
- Technical issues are solved promptly
Disadvantages
- No callback option
- Support is not available on weekends
The available communication channels with technical support are:
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Live chat on the broker’s website;
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Facebook Messenger;
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Email;
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Telephones;
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Stockbook app.
Fax is also available to contact a VNDIRECT representative. However, this option is regionally limited.
Contacts
| Registration address | VNDIRECT Securities Corporation, Số 1 Nguyễn Thượng Hiền – Hai Bà Trưng – Hà Nội |
|---|---|
| Regulation | SSC |
| Official site | https://www.vndirect.com.vn/ |
Education
The VNDIRECT website offers a few educational materials for novice traders. The Support Center section features videos on the basics of securities trading, however, these guides lack organization and clear categorization, making it difficult to find specific information. Registered clients gain access to the DACADEMY educational platform, the DGO Academy website with training materials, and the DWEALTH Academy with seminars for novice traders and more experienced market participants.
The PROTRADE Trial platform allows traders to learn how to invest in financial instruments using virtual funds. This eliminates the risk of losing real money while working with real-time quotes and markets.
Detailed Review of VNDIRECT
VNDIRECT boasts a long and successful track record in Vietnamese financial markets, solidified by its stable financial standing and a rapidly expanding network of branches. They've consistently secured a coveted spot among the top 10 for bond trading volume on both the HNX and HOSE exchanges. This experience and reach empower VNDIRECT to cater to a diverse clientele, welcoming both domestic and foreign traders seeking investment opportunities in Vietnamese securities.
VNDIRECT by the numbers:
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18+ years on the market;
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The broker’s equity exceeds VND 1,900 billion;
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VNDIRECT’s market share on HOSE is 5.67% of its total trading volume, while it is 8.1% on HNX;
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14 offices are located in different provinces of Vietnam;
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The company employs over 590 managers and works with 450 brokers.
VNDIRECT is a large brokerage company providing its services on the Vietnamese stock market
VNDIRECT allows its clients to choose a trading platform suitable for their professional level and investment strategy. The DBOARD platform provides for trading different asset classes, broadcasts technical analysis, and supports conditional orders and one-click fast orders option. It offers trading both securities and derivatives. Unlike PROTRADE and DSTOCK designed for professional traders, DBOARD is suitable for both novice traders and professionals.
The company developed proprietary VNDIRECT Financial Investments mobile apps to trade and conduct market analysis on iOS and Android devices. The Bankgate platform is available for online payments through 9 large Vietnamese banks.
Useful services offered by VNDIRECT:
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DSTOCK. It’s a website that provides important data for stock trading. Investors get access to the D-chart technical analysis tool and D-Rating for company analysis.
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Market Watch. It is a widget within the trading platform that offers securities market analysis. Assets can be sorted by trading volumes on HOSE and HNX, price for a chosen period ranging from 1 week to 5 years, liquidity, etc.
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Market Heatmap. This is a visual analysis tool used to identify market trends and abnormalities, as well as potential investment opportunities.
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Stockbook. It’s a web platform that provides information and knowledge on investments. It also provides access to thematic communities and communication with investment advisors specializing in different asset types.
Advantages:
Online trading underlying and derivative financial instruments;
Technological trading platforms suitable for retail traders and professionals;
Educational courses for novice traders in the stock market;
Free account opening and maintenance;
Access to specialized communities for investors.
VNDIRECT empowers investors to navigate the Vietnamese stock market by offering tradable stocks, bonds, and a diverse range of investment instruments. Beyond execution, they equip clients with valuable analytical information and insightful market research, fostering informed investment decisions.
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