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Daren Khek

Founder & Director at Tabi Studios

03 Oct 2020

∙

General Investing

Are securities transfer fees worth it?

Hi all!

My TD Ameritrade account has finally opened and is ready for funding. I have been using SAXO for the entire duration of waiting for the account to be ready.

So my question is, should I do a securities transfer from SAXO to TD? Or should I just hold the stocks in SAXO and start trading with my TD account?

If I am not wrong, there is a 50 EUR securities transfer out fee for SAXO. (I might be wrong, please correct me)

Thanks!

Saxo Markets TD Ameritrade

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Nicholas Beh

03 Oct 2020

Student Ambassador 2020/21 at Seedly

I would say it depends on how many holdings you have and their value. On Saxo, you will incur a recurring 0.12% p.a. custody fee, along with commissions and 0.75% currency conversion fee should you want to convert back to SGD.

On the other hand, TD Ameritrade charges 25 USD for withdrawals and only offers withdrawals in USD. You can do the math and see which is more cost efficient.

If you have multiple counters, do note that the transfer fee is capped at 160 EUR per transfer.

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