Hello! I had a windfall of $200k and I would like to invest all of it as I'm afraid I might otherwise spend it on stupid stuff. Would DBS Vickers be good for US stocks?

Hey anon! I would say you should at least keep half of the amount in a fixed deposit account.

As for investing, I would say go for Interactive Brokers (IB) to invest in US stocks. They have super low comission rate regardless of the amount you place in.

I begin with 500USD with them and traded over half a year. I have made some gain because of their low commission.

DBS vickers is definitely good if you want to invest in SG stocks. Now is a good time to look into it and apply for an account. It works best if you have a multiplier with them too. However, be wary that the customer support for vickers is not the best. I read some reviews on Seedly and most of them are negative about the customer service.

Alternatively, you can try POEMS or KayHian for CDP accounts.

Hello,

For DBS vickers I wouldn't recommend for US stocks. This is because they have a custodian fee for holding US stocks, SGD$2.00 per counter per month. However, for vickers, purchasing of local SG stocks would be great via their cash upfront option.

I would recommend interactive brokers (IB) or standard chartered (SCB) for US stocks as they would be more cost efficient.

Also do check out the articles in Seedly where they too have a comparison of the different brokerages available in Singapore. I personally read their articles which gives me a better over view.

Hope this helps 🤗