Vietnam’s 2026 Retail Brokerage Rankings: TCBS Among Top Three
VietnamBiz’s Research and Ratings Division announced its 2026 assessment of retail brokerage services on November 12. TCBS, DNSE and VPS took the top three places overall. The assessment covered 45 securities firms and found marked differences in trading tools, margin lending risk alerts and investor education.
VietnamBiz’s Research and Ratings Division announced the results of its 2026 assessment of Vietnam’s retail brokerage services on November 12, 2026, with TCBS, DNSE and VPS taking the top three places overall. The assessment period ran from July 1, 2025, to June 30, 2026. The research covered 75 securities firms, of which 45 were evaluated. Together, those 45 firms accounted for 98% of the stock brokerage market.
Illustration relating to Vietnam’s 2026 retail brokerage assessment.（VietVance）
The assessment includes one overall ranking and five category rankings covering market share growth, trading platforms, trading costs, investor education and support, and improvement over the previous assessment period. The overall ranking lists the top 10 firms. The research found that four of the 10 firms with the largest stock brokerage market shares did not make the overall top 10. DNSE, ranked 15th by market share, placed in the overall top three, while Pinetree, ranked 23rd by market share, placed eighth overall.
Illustration relating to the overall rankings in Vietnam’s 2026 retail brokerage assessment.（VietVance）
According to the report, nine of the overall top 10 firms offer 24/7 money transfers, seven provide semi-automated alerts and sell recommendations, and seven offer model portfolios. The corresponding numbers among the other 35 firms are five, one and three. The top 10 scored an average of 57% of the maximum possible score, compared with 35% for the other 35 firms. The research identified service quality as the main reason for the gap.
During the assessment period, margin lending revenue at the 45 firms rose 62%. However, only four firms automatically alert investors when an account’s margin ratio approaches the maintenance threshold, and eight automatically send alerts or sell recommendations for stocks in investors’ portfolios. The average annual margin lending rate was 9.7% at foreign-owned securities firms and 11.9% at independent securities firms. Another 19 firms offered no series of investor education programs, and only two held regular meetings with investors.
Source: VietVance
