facebookI am interested to invest in the S&P 500 Index. Should I do it through Standard Chartered Bank/FSMOne and bear the risk of a custodian brokerage account or are there other better brokerages? - Seedly

Anonymous

29 Jun 2020

General Investing

I am interested to invest in the S&P 500 Index. Should I do it through Standard Chartered Bank/FSMOne and bear the risk of a custodian brokerage account or are there other better brokerages?

How do I start and go about it? I read reviews for both SCB and FSMOne but both had a significant amount of complaints. What is the most cost-effective platform that has an easy interface? Would you choose SCB/FSMOne or other brokerages and why?

Discussion (2)

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Tan Kel Vin

29 Jun 2020

Financial YouTuber at Kelvin Learns Investing

I would choose either Saxo or Interactive Brokers because they have the lowest fee.

Saxo min comm: USD4, with annual fee 0.12%

IB min comm: USD1, if total less than $100k has min fee $10/month which can be offset by commissions

Check out my video where i compare the rates and step by step guide how to use them:

https://youtu.be/Z_eLeKD4TS4

Tan Wei Ming

28 Jun 2020

Founder and Writer at Frugal Youth Invests

I would DCA S&P500 ETF using FSMOne's ETF RSP.

Just have to bear in mind the dividend handling fee of US$2.5 min every distribution.

You can read my article at :

https://frugalyouthinvestsg.wordpress.com/2019/...

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