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Anonymous

25 Jul 2021

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General Investing

How to switch from POEMS to TD Ameritrade at lowest cost when I have over 10 counters of US Stocks at total value of USD500k?

Cost of switching from POEMS to TD Ameritrade

POEMS by PhillipCapital TD Ameritrade

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Chris

25 Jul 2021

Owner and Writer at Tortoisemoney.com

There's only 2 real ways to moving stocks from one broker to another. Transfer through your broker or sell and rebuy.

Well, for 10 counters that's only SGD535 (53.5 * 10). Before you say that's a lot, 535 is only about 0.0786% on a portfolio of ~680k SGD (500k USD).

Selling and rebuying will definitely incur a higher cost, not just from commissions, FX conversion and market movement.

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Which broker to use for US ETF e.g. vanguard snp 500? Saxo or td ameritrade. Quite confused by the many costs.. Also, is roboadvisors another “alternative” to invest in us etf? I would like to buy and hold US etf, before dabbling in the rest.?

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