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Nicholas Beh
15 Jun 2020
Student Ambassador 2020/21 at Seedly
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Anonymous Poster
13 Jun 2020
DCA about 1.5k quarterly to etfs
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Nicholas Beh
13 Jun 2020
Student Ambassador 2020/21 at Seedly
Needs more information - DCA or lump sum? If DCA, how often? Holding period? Are you considering Iri...
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From the info you have provided, I will assume that you will be investing an amount of $1500 quarterly (currency in SGD unless specified), with the possibility of investing in Irish-domiciled US ETFs listed on the LSE for the lower 15% WHT. Currency of the ETF will be in USD.
I will compare between 4 brokers - Saxo, Standard Chartered, Interactive Brokers and Tiger Brokers. Do note that Tiger Brokers does not support LSE.
Fee summary:
Cost per transaction:
As you can see here, Interactive Brokers comes out top for having the lowest commissions. However, since you are investing quarterly instead of monthly, the monthly minimum commission of 10 USD would make it more expensive than the other brokers. Saxo is fairly cost prohibitive as well, and it does not include custody fees which will grow as your investment value grows.
Hence, for US-domiciled ETFs, go with Tiger Brokers. For Irish-domiciled ETFs, go with Standard Chartered. And if you switch to monthly DCA, go with Interactive Brokers.