The names in the top 10 in Q3 2025 did not change compared to the previous quarter, including VPS, SSI, TCBS, Vietcap, HSC, MBS, VNDirect, Mirae Asset, VCBS and KIS Vietnam.

HÀ NỘI — Leading securities companies such as VPS, SSI and TCBS continued to increase their brokerage market share in the third quarter of 2025, underscoring growing competition among Việt Nam’s largest brokerages.
According to information on the brokerage transaction value of the ten securities companies with the largest market share in Q3 2025, released recently by the Hồ Chí Minh City Stock Exchange (HoSE), the names in the top ten in Q3 2025 did not change compared to the previous quarter, including VPS, SSI, TCBS, Vietcap, HSC, MBS, VNDirect, Mirae Asset, VCBS and KIS Vietnam. However, some of the securities companies have been making stronger breakthroughs in capturing market share.
VPS continued to be the leader with a market share of 17.05 per cent, a slight increase from 15.37 per cent in Q2 2025. Meanwhile, SSI also expanded its market share from 10.85 per cent in Q2 2025 to 11.82 per cent in Q3 2025.
Notably, this was SSI's highest market share in nearly the past five years. Although the increase was not too strong, TCBS's market share also improved to 7.75 per cent in Q3 2025.
In total, the market share of the top ten securities companies reached 69.05 per cent in Q3 2025, up from 68.49 per cent in the previous quarter. In the group of small securities companies, MBS climbed one place in the list while VNDirect had to give way.
This development occurred when MBS's market share increased from 5.39 per cent to 5.61 per cent within three months, while VNDirect's decreased from 6.36 per cent to 5.42 per cent. Meanwhile, the remaining securities companies, including Mirae Asset, VCBS and KIS, all had a slight decrease in market share compared to Q2 2025. — VNS
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