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Anonymous
Just wondering why people use various platforms and if I can just stick to using one.
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I find it easier to just stick to2 brokerages at most and monitor your investments from there. anything more than that is too much of a chore
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Yes, you can and should probably stick to the one with the lowest costs which I think is IBKR. Nowadays the sign up bonus for some platforms can be quite attractive and thatβs why this can entice people to sign up for different platforms to try. Also, some platform like Endowus allows us to invest our CPF OA. So some may use more than 1 platforms for different investment purposes.
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Yes of cos you can stick to just one. The best brokerage depend on which market you want to invest in, there are many articles out there to help you in choosing the best for yourself:
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Tony
19 Dec 2022
Computer Engineering at Nanyang Technological university
People use different platforms that suit their needs, for eg to access different markets (at lowerfe...
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Many platforms offer free cash to new users. So many investors like myself will take advantage of the promotions (basically forced you to use the service for one month in return for cash/similar) and use the new brokerage platforms.
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For me, after trying all the available online brokerages and getting the promotions. I find interactive broker has the best non promotional pricing for US stocks and ETFs. Also IBKR has access to many markets beyond US. Thus, I am sticking to IBKR only.