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Anonymous
I am planning to purchase stocks from the US stock market through DBS Vickers. Is there anything I should take note of before purchasing stocks from overseas markets? Thank you.
P.S. This will be my first time buying OVERSEAS stocks using DBS Vickers
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Hi Anon, don't use vickers. There's a custodian fee monthly and each transaction fee is so high!
I'm using tiger brokers. No custodian fee, USD1.99 per trade. 7N8LGH. He's my promo code to get free trading for the first few trades.
If you don't feel safe with tiger cuz it's new, can use fsmone. Same arnd transaction fee as vickers, but no custodian fee.
TD ameritrade is free. But acc opening takes very long.
Go and check out what I have mentioned.
Just my 2cents worth. Not financial advice. You do you =)
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I would say best not to use DBS Vickers to buy US stocks. Their buying/selling fees are so high it's crazy. Also seem to have a quarterly fee for holding overseas stocks.
I personally use TD Ameritrade. It has $0 fees. You can create an account with them now but do note you need to wait about 2-4 months as they open the account extremely slowly. In the meantime, you can use Tigers Brokers to buy from US markets too. The fee is wayyyyyy lesser compared to Vickers. I buy my Australian stocks from Tigers as well.