facebookI am intending to DCA monthly into Singapore SGX stocks such as DBS etc. Which broker platform is the most user-friendly and cost efficient? Appreciate your inputs. Thanks in advance! - Seedly

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Anonymous

04 Mar 2024

βˆ™

General Investing

I am intending to DCA monthly into Singapore SGX stocks such as DBS etc. Which broker platform is the most user-friendly and cost efficient? Appreciate your inputs. Thanks in advance!

Discussion (15)

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Seems like Syfe or endowus is not bad

I think you try looking at tiger broker or moomoo. Please remember to compare the non-promotional fees since you are investing long term.

Ngooi Zhi Cheng

05 Mar 2024

Student Ambassador 2020/21 at Seedly

Hi there, great question! I know many young investors like yourself are eager to start building wealth through blue-chip stocks but get hung up on choosing the best broker.

I recently helped a 28-year-old client who was exactly in your shoes. He wanted to DCA into solid SGX companies but was confused by all the brokerage options out there. By walking him through the key factors to look for and the pros/cons of different platforms, we were able to find the most cost-effective and user-friendly setup for his needs and budget. Now he's confidently growing his portfolio each month!

The truth is, there's no single "best broker" that's right for everyone. Don't fall for the myth that you need a fancy, expensive platform to start investing. It's more about understanding your goals, trading frequency, and which features actually matter to you.

If you're focused on long-term DCA into a few SGX stocks, here's what I'd suggest:

  • Compare the fees, especially for smaller regular investments. Low minimum fees and commission rates are key.
  • Look for an intuitive mobile app and desktop interface that lets you easily set up recurring purchases.
  • Consider useful tools like instant deposit, dividend reinvestment, price alerts, and performance tracking.
  • Go with a well-established, reputable broker regulated by MAS to keep your assets safe.

I'm happy to do a deeper dive into the best-in-class options for SGX investing and regular savings plans. Feel free to slide into my DMs @ngooooied - I enjoy geeking out on this stuff and am always down to help fellow investors level up their wealth-building game!

To your investing success!

Ngooi Zhi Cheng

Depend on if you want cdp or custodian accoun. cdp min price is $15 per trade if I rmb correctly...

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