Vietnam Securities Retail Services Ranking: TCBS, DNSE and VPS Lead
A Vietnam securities retail services assessment ranked TCBS, DNSE and VPS as the top three for 2026. It studied 75 securities firms and evaluated 45, examining market share growth, trading platforms, costs, investor support and service improvements.
Results of Vietnam’s 2026 securities retail services assessment, announced on November 12, placed TCBS, DNSE and VPS in the top three of the overall ranking. The assessment period ran from July 1, 2025, to June 30, 2026. VietnamBiz’s Research and Ratings Division studied 75 securities firms operating in Vietnam and selected 45 for evaluation; those 45 firms together accounted for 98% of the stock brokerage market.
Image related to Vietnam’s 2026 securities retail services assessment.（VietVance）
The results comprise an overall top 10 ranking and five category rankings. The category criteria cover growth in market share for brokerage and margin lending, trading platform features, trading fees and margin lending rates, investor education and support, and improvements in service compared with the previous assessment period.
Image related to the overall ranking of Vietnam’s 2026 securities retail services assessment.（VietVance）
The assessment 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 but reached the overall top three; Pinetree ranked 23rd by market share and eighth overall. The overall top 10 scored an average of 57% of the maximum available points, compared with 35% for the other 35 firms.
Among the overall top 10, nine firms offered round-the-clock money transfers, compared with just five of the other 35. Seven of the top 10 offered semi-automated alerts and sell recommendations, compared with one of the other firms. Margin lending revenue at the 45 firms rose 62% during the assessment period, but only four could automatically alert investors when an account’s margin ratio approached the maintenance requirement.
Foreign-owned securities firms charged an average annual margin lending rate of 9.7%, compared with 11.9% at independent firms. Firms offering lifetime trading fee waivers charged an average of 10.9%, above the 10.6% median rate among the firms assessed. Investor education also showed gaps: 19 of the 45 firms had no series of educational programs, and only two regularly held events for investors.
Source: VietVance
