APEC Securities

What APEC Securities does

APEC Securities (Công Ty Cổ Phần Chứng Khoán Châu Á Thái Bình Dương, ticker APS on HNX) is a Vietnamese securities company founded in 2006 and headquartered in Hanoi. It operates a multi-channel brokerage platform built around the Apec Invest mobile application, the A.Live web trading platform, and the Abond bond application (developed in partnership with affiliate Apec Finance). The firm's core technology stack includes eKYC identity verification, biometric login, real-time market data feeds, and automated order-management features such as profit-taking and stop-loss. In May 2025 APS migrated to the Korea Exchange (KRX) trading system alongside the broader Vietnamese market.

APEC serves two primary customer segments: individual retail investors (online trading in stocks, bonds, derivatives, and margin lending) and corporate / enterprise clients (capital market services, debt issuance, M&A advisory, IR services, and financial consulting). Distribution spans three physical branches (Hanoi HQ, Ho Chi Minh City, Hue), a national hotline (1900 9999 86), and digital self-serve channels. Banking partnerships with VPBank (for securities account funding) and BIDV (for Abond bond transactions) are core to the deposit and withdrawal flow. The firm holds charter capital of 837 billion VND (as of 2021) and employs 51-100 staff.

The revenue model is primarily transaction-based: brokerage commissions (Smart tier at 0.1%, A.Broker+ at 0.2%), margin lending interest (9.0%-13.5%), custody fees (0.27 VND/share/month plus VAT from July 2025), bond distribution, and corporate finance advisory. In June 2025 APS discontinued new subscriptions and renewals of its fee-waiver tiers (Basic, Standard, Premium, VIP, A Cake, Shareholder, A Care), migrating existing accounts to the Smart transaction-based tier, signaling a strategic shift toward a volume-driven revenue model. Disclosed financial results show steep revenue and profit decline from 2021 through 2025, with extreme net-income volatility consistent with material proprietary trading and bond-marking exposure.

Name

APEC Securities

Legal name

Công Ty Cổ Phần Chứng Khoán Châu Á Thái Bình Dương

Website

https://apec.com.vn

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

APEC Securities is a Hanoi-based Vietnamese brokerage offering retail and institutional investors stocks, bonds, derivatives, and margin trading through its Apec Invest, A.Live, and Abond digital platforms, with charter capital of 837 billion VND.

Ownership category

akta.pro rank

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Brokerage Commission: Transaction fees charged on securities trades executed on HSX, HNX, and UPCOM exchanges. Fee rates vary by account type: Smart tier at 0.1%, A.Broker+ at 0.2%, with government-mandated exchange fees of 0.03% on trade value
2. Margin Lending: Interest income from margin loans extended to customers for leveraged trading. Interest rates range from 9.0% to 13.5% depending on account tier and loan duration (T+7 to T+90)
3. Securities Custody: Custody fees charged for holding and managing securities on behalf of clients. Rates are 0.27 VND per share/month for equities, with VAT applied from July 2025
4. Bond Distribution: Revenue from distributing corporate bonds to investors through the Abond platform and direct sales channels, with APEC acting as distribution agent and consultant
5. Financial Advisory Services: Corporate finance advisory including M&A consulting, capital market services, debt market services, IR services, and financial advisory for enterprise clients
6. Derivatives Trading: Commission revenue from derivative securities trading including futures contracts on VN30 and other index products

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

APEC Securities is a Vietnamese securities brokerage that enables individual investors to trade stocks, bonds and derivatives through digital platforms (Apec Invest mobile app and A.Live web trading platform), and serves corporations with capital market, debt market, M&A advisory and investor relations services. Revenue is generated from brokerage commissions, margin lending interest, custody fees, bond distribution, and financial advisory fees.

Product overview

APEC Securities operates as a multi-platform financial services firm offering both retail and institutional products. The core platform consists of digital trading channels including Apec Invest (mobile app) and A.Live (web platform) serving individual investors, complemented by enterprise services for corporate clients. Account types span multiple tiers (Smart, Standard, Premium, VIP, A.BROKER+) with varying fee structures and margin rates. Core services include securities brokerage, custody, derivatives trading, and margin lending across HoSE, HNX, and UPCOM exchanges. The bond ecosystem includes Abond App for corporate bond trading. Enterprise offerings cover capital market services, debt market services, M&A advisory, IR services, and financial/management consulting.

Differentiator

Problem solved

Functional benefit

Brands

• Apec Invest: Mobile application for online securities trading including stocks, bonds, and derivatives.
• A.Live
• Abond

Products and services

• Apec Invest Mobile App Proprietary mobile trading application providing real-time market data, chart analysis, portfolio management, biometric login, instant fund transfers, push notifications and automated stop-loss/profit-taking for stocks, bonds and derivatives on Vietnamese exchanges. Aimed at individual investors.
• A.Live Web Trading Platform Browser-based trading platform providing real-time price quotes, charting, order management, price alerts and fund transfers for stocks, bonds and derivatives across HoSE, HNX and UPCOM. Targets retail and active investors.
• Abond Bond Trading App Mobile application developed in partnership with Apec Finance that enables corporate bond purchase, sale, transfer and portfolio management with eKYC verification, connected to BIDV banking for fund settlement. Targets individual bond investors.
• Securities Brokerage Stock brokerage service enabling investors to buy and sell securities on HoSE, HNX and UPCOM exchanges through online platforms and phone trading. Commissions start at 0.1% on the Smart tier.
• Securities Custody Safekeeping and depository service managing customer securities certificates, ownership transfers and entitlements processing through the Vietnam Securities Depository. Charged at 0.27 VND per share per month plus VAT.
• Margin Lending Securities-backed lending allowing investors to borrow against their portfolio as collateral, with rates from 9.0% (A.Broker+ tier) to 13.5% annual depending on duration and tier, with T+7 to T+90 tenors.
• Derivatives Trading Trading of futures contracts and other derivative products on Vietnamese exchanges, including VN30 index futures, generating commission revenue.
• Bond Services Corporate bond investment and trading services including bond portfolio management, transfers and access to fixed-income products with guaranteed buyback options, distributed through the Abond platform and direct channels.
• Capital Market Services Enterprise services including capital raising, IPO underwriting and equity market advisory for corporate clients seeking access to public capital markets in Vietnam.
• Debt Market Services Corporate debt issuance advisory and bond distribution services helping businesses access debt capital markets financing through APEC Securities as issuing agent and distribution consultant.
• M&A Advisory Mergers and acquisitions consulting for enterprises pursuing strategic transactions or corporate restructuring, including target screening, deal structuring and execution support.
• Investor Relations (IR) Services Investor relations services for corporate clients to manage shareholder communications, public disclosures and ongoing market presence with listed-company stakeholders.
• Financial Consulting Corporate financial advisory services including financial management and business consulting for Vietnamese enterprises.
• Management Consulting Corporate governance and management consulting services for business optimization and operational improvement.

Quantifiable outcome

• Traders save up to 5% of annual portfolio value in reduced transaction costs with 0.1% fee vs. typical 0.15-0.25%
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Apec Finance (CTCP Apec Finance)coreTechnology or IntegrationApec Finance is a subsidiary of Apec Group and serves as the issuer and manager of the Abond bond platform. APS acts as distribution agent for Apec Finance's bond products. The Abond app enables investors to purchase, sell, and manage corporate bonds issued by Apec Group and other companies.
• VPBank (Ngân hàng Việt Nam Thịnh Vượng)coreChannel Partner/ Reseller/ DistributorVPBank serves as the banking partner for APS's securities account funding system. Since March 2022, customers use VPBank accounts with designated account numbers (prefix 030C) to fund their securities accounts instantly. This partnership enables real-time money transfers between bank accounts and securities accounts.
• BIDV (Ngân hàng Đầu tư và Phát triển Việt Nam)minorChannel Partner/ Reseller/ DistributorBIDV serves as the banking partner for Apec Finance's Abond bond platform. Bond investors use BIDV's smart banking app or transfer funds using account identifier code 963366 to fund their Abond accounts. BIDV Branch Hanoi is the receiving bank.

Scale indicators4 records

Recent moves8 records

Expansion highlights10 records

Direct peers

• VNDirect Securities Corporation: One of Vietnam's largest retail-focused brokerages with strong digital platform (D-Biz, VnDirect app). Directly comparable to APS as a digital-first multi-product securities firm competing for Vietnamese retail and institutional clients.
• Ho Chi Minh City Securities Corporation (HSC): Major Vietnamese brokerage with strong retail and institutional franchise. Direct competitor to APS on HSX/HNX trading, margin lending, and equity brokerage with overlapping customer segments in southern Vietnam.
• Mirae Asset Securities (Vietnam): Korea-affiliated brokerage with retail focus and digital platform in Vietnam. Comparable to APS in targeting retail investors with low-cost digital trading and multi-asset offering, with a foreign parent's technology and capital backing.
• Vietcombank Securities (VCBS): Securities arm of Vietcombank offering full-service brokerage, custody, and investment banking. Comparable product suite to APS with the added advantage of parent bank distribution; competes for the same retail and corporate clients.
• MB Securities (MBS): Securities affiliate of Military Commercial Joint Stock Bank providing retail brokerage, margin, and corporate finance. Directly comparable to APS in business model, with similar bank-distribution advantages.
• FPT Securities (FPTS): Tech-affiliated Vietnamese brokerage with a strong digital platform (FPTS app). Direct competitor to APS in retail digital trading, with a similar focus on technology-driven brokerage and margin services.
• Saigon-Hanoi Securities (SHS): Mid-sized Vietnamese brokerage offering retail and institutional securities services. Comparable scale to APS with similar product breadth across equities, derivatives, and margin lending.
• Yuanta Securities Vietnam: Foreign-affiliated Vietnamese brokerage with multi-channel retail platform. Directly comparable to APS in retail brokerage, margin, and digital trading offerings, with parent group capital backing.
• Bao Viet Securities (BVSC): Securities arm of Bao Viet Holdings, providing retail brokerage and corporate finance in Vietnam. Comparable to APS in targeting retail and SME clients with a similar fee-based brokerage model.

Broad incumbents

• SSI Securities Corporation: Vietnam's largest securities company with full-service retail, institutional, and investment banking capabilities. Comparable in product breadth and target segments, but operates at materially larger scale than APS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UC6jude696UCqJBMSoOqZu9A
• Facebookfacebook.com/congtychungkhoanaps
• LinkedInlinkedin.com/company/apec-securities

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about APEC Securities