facebookI have about $500 to try out investing, what's the best platform for me to start? I already have emergency funds so this is just to test water. Any advice? - Seedly

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Anonymous

20 Aug 2020

Robo-Advisors

I have about $500 to try out investing, what's the best platform for me to start? I already have emergency funds so this is just to test water. Any advice?

Discussion (2)

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Benedict Lau

20 Aug 2020

Student Ambassador 20/21 at Seedly

Hello!

If you want to test water I would suggest doing so with Singapore stocks first. I personally feel that starting out with local stocks is a more prudent move before going on to foreign stocks. You could do so by buying into a regular savings plan (which invests in the STI ETF) with any of the local banks or open an account with Syfe to invest in the S-REIT market. While you are doing this, it would be good to read up on various investing materials as well to gain more knowledge before dabbling in foreign stocks

Tan Yu Ji

14 Aug 2020

Economics at Nanyang Technological University

If you have only $500 to try out, I would recommend you to use stashaway. It is a robo advisor platform and it is really easy to signup. They will help you to diversify your portfolio based on your risk level. If you also just started out, you might also want to open a brokerage account so that you can venture into buying individual stocks next time. I would recommend Tiger and TDA!

If you need a referral code, do let me know!

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