facebookHello, I am 19 years old and just about to start investing. My plan is to buy stocks with 4-5k that I have saved and hold for a term of about 5 years. Which brokerage account is suitable? - Seedly

Elijah

30 May 2021

βˆ™

SeedlyTV

Hello, I am 19 years old and just about to start investing. My plan is to buy stocks with 4-5k that I have saved and hold for a term of about 5 years. Which brokerage account is suitable?

Im considering Saxo and poems but im open to other suggestions. Any LaoJiao please help. The inactivity fee of saxo is quite high, and that means im forced to make a transaction with a minimum fee of 15? every quarter. seems a waste to me since i want to hold long term. Not sure about the inactivity fee of poems. the minimum trading fee is quite substantial to me. Wonder if any of yall that started investing with a small amount faced this problem or not. Any advise would help

SeedlyTV S2E02

Discussion (9)

What are your thoughts?

Learn how to style your text

There is no price, however opening an account takes a very long time; according to a friend of mine spacebar clicker

Victor

30 May 2021

Financial Service Consultant at AIA

You can check out td ameritrade. No fees but account opening take very long, my friend say take more than 4 months now. Alternative will be tiger broker, faster process

Chris

09 Jan 2021

Owner and Writer at Tortoisemoney.com

I think it depends on which markets you want access to.

If you only need US market access, TD Ameritrade is likely your best pick. Free commission, low FX spread and great desktop user interface.

If you need US and SGX/HK market, Tiger Brokers are a good choice too. Commissions are relatively low at USD 1.99 per trade.

I personally use IBKR, but I understand that you are probably a passive investor and as such, probably won't incur the minimum comms to waive the inactivity fee, hence I did not recommend it for you.

You can check out my brokerage comparison here to find out more!

Get a IB white labels. If you go pure IB, you'll be charged US$10 per month...

Write your thoughts