facebookI am looking for suitable securities firm to set up brokerage account with. I have saw that SAXO Capital has one of the lowest brokerage fees. I wonder if anyone here uses it or know something about it? Thanks.? - Seedly

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Anonymous

18 Apr 2019

General Investing

I am looking for suitable securities firm to set up brokerage account with. I have saw that SAXO Capital has one of the lowest brokerage fees. I wonder if anyone here uses it or know something about it? Thanks.?

Discussion (1)

What are your thoughts?

Cherie Julianne Tan

Cherie Julianne Tan

02 May 2018

Marketing at MoneyOwl

SAXO Capital's comission is competitive but not the cheapest available. It is cheaper than most brokerage firms as SAXO Capital holds your stock in their own custodian account instead of your own CPD account, this allows them to lower their costs. Some things you should know if your stocks are held by SAXO Capital..

  • You will not be invited for Annual General Meetings by the board -- because stocks are technically not purchased under your name
  • You will not receive any notice on rights issue, share buyback etc. Literally any action/annoucement from the company whose stock you have purchased

Actually there are some reviews posted here, see if this would help. There are more reviews on other brokerage firms, do look through that too, maybe that will help you decide!

In terms of minimum fees, Standard Chartered/FSM One is lower but for fees for < $50,000 , SAXO is quite competitive. Seedly had done a neat comparison amongst the other brokerages here: https://blog.seedly.sg/the-ultimate-cheatsheet-...

I really hope this helps and I wish you all the best!!

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