facebookI am planning to buy some US ETF, as well as some SG ETF. Should i open a local brokerage only or both a local and overseas brokerage to save on currency conversion? - Seedly

Advertisement

Anonymous

15 Jun 2020

General Investing

I am planning to buy some US ETF, as well as some SG ETF. Should i open a local brokerage only or both a local and overseas brokerage to save on currency conversion?

Not sure if its worth the hassle to open both

Discussion (1)

What are your thoughts?

Learn how to style your text

Nicholas Beh

15 Jun 2020

Student Ambassador 2020/21 at Seedly

These days, opening an account with a broker can be done completely online with just a few clicks. That shouldn't deter you from using different brokers - I personally use 4 different brokers, each with their own role for investment. You can see my answer to another question here where I explain what you should look out in a broker.

Many of the local brokers here charge ridiculous commission fees, forex spreads and other types of handling fees. Also note that these fees go both ways - you will incur them again when you eventually sell your investments. Do a bit of searching for brokers that meet your needs and you will save lots of money in the long run.

Write your thoughts

Advertisement