Does it make sense to have 2 different brokerages for a student?

Hi! I am currently a polytechnic student and I am a little bit conflicted. I am currently on FSMOne's RSP into VOO monthly, and I find that is good for me because I do not have enough cash monthly to buy 1 full share of VOO every month. However I also use and really like Tiger Brokers due to their low fees, good interface and rewards. Does it make sense to leave my RSP in VOO while stockpicking with Tiger, or should I consolidate, which means I would only be able to buy VOO once every few months via Tiger?

Tiger Brokers FSMOne Fundsupermart

Discussion (5)

What are your thoughts?

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saylavee

20 Jun 2021

Basically i was in the same position as you rsp for etfs on fsm n buying stocks on tigr because fsm fees are quite expensive if i were to buy individual stocks there. Take note, share transfer out of tigr cost $100 per counter while fsm is foc.

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TradingwithRayner

20 Jun 2021

Hey there, Jet here from TradingwithRayner

As long as you have 2 different goals and intention for those portfolios (i.e. one for long-term investing, and one for financial trading on Tiger Broker) then it makes sense

But if you are in the stage of figuring out which broker is right for you, then feel free to explore how brokers operate and feel upon execution before you commit to it long-term

I hope that helps!

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