1. Open an account
Most Chinese people come to Vietnam to open an account, and they choose securities companies named IVS. This company is controlled by a Chinese company, so it can provide some services for Chinese people, such as staff who know Chinese will guide account opening, and the trading software is also provided in Chinese.
If you are in Vietnam, the process is very simple. You only need to bring your passport and visa and apply at the IVS counter.
account opening for free ( securities account + Vietnam Investment Development Bank account ), only a passport and visa notarization fee of about RMB 60 is charged, and it can be completed in less than an hour.
If the person is in China, he needs to notarize his passport at the Vietnam Embassy in China, and then send all the information to IVS in the form of mail/express.
2. Trading
Each securities company will have corresponding trading software. After opening an account, within two days, the staff will send the account and password information to the investor's email in the form of email. IVS's trading software is "imobile". You can log in after receiving the account password.
Vietnam has two main exchanges, one is the Hanoi Stock Exchange and the other is the Ho Chi Minh Stock Exchange, which is similar to the Shenzhen Stock Exchange and the Shanghai Stock Exchange. Stock trading hours are from 9:00-11:30 am and from 1:00-3:00 pm. The increase and fall of the Ho Chi Minh Center was ±7%, while the increase and fall of the Hanoi Center was ±10%. In addition, the minimum amount of the quotation plus or subtraction code and trading units are also different on different exchanges.
3. Rate
As a foreign investor, you must first exchange RMB for US dollars, and then exchange US dollars for Vietnamese Dong for trading.
Transaction fees and taxes: Compared with the domestic handling fee of about 3/10,000, the rate of Vietnam stock trading is very high. Through software transactions, the transaction rate commission is 0.15%, 0.15% is charged when buying, 0.15% is charged when selling, and 0.1% tax is also required to be automatically paid.
Securities custody fee: Securities companies charge shareholder securities custody fee, 0.4 guan/share per month. Calculated by day: For example, 10,000 shares are custodial for 15 days, and the custodial fee is 2,000 rupiah.
Securities transfer fee: 0.5 guan/share each time, upper limit: one stock code at a time is up to 500,000 guan.
Fund settlement: The trading model of the Vietnamese market is T+2. You cannot get funds immediately when selling stocks. The funds must be received after the closing of T+2. For example, after selling stocks on Tuesday (T day), the funds will arrive after the closing of Thursday (T+2), and there is a 2-day "account period". Therefore, in order to facilitate customer transactions, IVS provides fund lending services for the past few days. After confirming that the customer sells on the T-day, and the customer needs to buy other stocks immediately, IVS can lend the customer the corresponding amount in advance, with the interest of 0.038% per day.
Withdrawal: If Chinese investors abroad want to transfer their funds, the process will be more cumbersome. First, you must submit written materials containing complete information to IVS, and send them to IVS by mail and by express delivery at the same time. IVS remits money to the client's designated account based on written materials.
Disclaimer: This article does not constitute investment advice. Investment is risky, so be cautious when entering the market
Manuscript source: Vietnam Securities News (Internet Chinese version)
Produced by: ASEAN Network Financial Center
Processing: ASEAN Network Financial Center
Processing: Shang Qun
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