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Benedict Lau

Student Ambassador 20/21 at Seedly

03 Jan 2023

Robo-Advisors

Best robo advisor/app to DCA into S&P on a monthly basis

As the title suggests, does anyone have any recommendations? Fuss-free and low fees are what I'm looking for. bonus if fx conversion is near spot.

Discussion (11)

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Robin

13 Feb 2023

Administrator at SG

Try DCA into endowus fundsmart - Amundi Prime USA fund @ 0.35% per annum. It is the S&P500 equivalent. In terms of fees for robo, I don't find any that others that can beat this. I basically set it on recurring basis and has been doing it for 3years now.

I recommend IBKR as it has one of the cheapest fee and have Ireland-Domiciled S&P 500 ETFs (Withholding Tax 15%). Syfe trade does not seem to have Ireland-Domiciled S&P 500 ETFs thus withholding tax will be 30%.

For DCA into index fund, the cost of commission and platform fee could eat into the capital. How about ownself dca into s&p etf every month using brokerage with no commission fee such as Td ameritrade or webull?

  • It can be fuss free if you set Gtc order to buy at a specifc price, or even use enhanced dca method.

Alternatively,

  • One can set a specifc date each month or each quarter to buy the s&p etf, though this method require the person To be emotionless and disciplined.

Would be grateful for comments on above suggestions!

If small amount of DCA monthly can just use Syfe Trade for VOO. It's 2 free trade a month. Have been...

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