Home News Investing strategies

Brokerages see surge in account openings as new investors take advantage of 'market reset'

Uma Devi
Uma Devi5/8/2020 07:00 AM GMT+08  • 4 min read
Brokerages see surge in account openings as new investors take advantage of 'market reset'
"There are a few major stock-market cycles happening in one’s lifetime and one of them is unfolding now,” says OCBC’s head of equities business Alvin Tham. “There are huge trading opportunities and yet there are major pitfalls," he adds.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 8): On a normal day, setting up a brokerage account with DBS Vickers would take anywhere between five and seven days. But a check by The Edge Singapore reveals that during these couple of months, the process has been stretched to up to four weeks, as the brokerage grapples with a high volume of requests.

Evy Wee, head of financial planning and personal investing at DBS, says requests for new-to-trading accounts surged to a record high for the brokerage in the first quarter this year. In her view, investors are looking to “seize the opportunity” presented as the market turned from bull to bear.

“We see both new and younger investors wanting to make investments when stock prices fell earlier in March, whereas existing investors want to rebalance their portfolios to reflect current market sentiment,” says Wee. “More customers have also come forward to set up regular investing plans, while some existing customers have gone on to increase their monthly investment amounts.”

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now