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Anonymous
I have 5k in my SAXO trading account. Is it better to transfer it to Interactive broker or stick with SAXO?
What would be the best course of action? I've heard that interactive brokers is a fantastic online brokerage, but I'm still not sure if I should switch.
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Zachary Teo
27 Mar 2020
Art Director at Ad Agency
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I also have some funds lying around in my saxo account - i use that as the cash reserve to invest into stocks when any opportunity arise so I dont have to do any future transfers as they incur forex costs. :)
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Only shift to IB when you are ready to trade regularly (monthly or quarterly) in the long run. Other...
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Like what other people have mentioned, only change to IB if you have been trading or want to trade reguarly.
They charged a monthly USD10 for account fees. However this can be waived if
Your total assets reached USD100,00 (equity + cash)
Monthly commission reach USD10
The USD10 commission is super easy to reach if you trade regularly. Hope this helps!