facebookI’ve read up on most of the brokerage firms but I am still confused and unsure of what to choose. What do u guys personally use or recommend? - Seedly
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Anonymous

16 Jun 2020

I’ve read up on most of the brokerage firms but I am still confused and unsure of what to choose. What do u guys personally use or recommend?

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    What are your thoughts?

    Nicholas Beh

    Nicholas Beh

    14 Jun 2020

    Level 13·Student Ambassador 2020/21 at Seedly

    Hi, it's difficult to determine what brokerage firm is best for you without knowing about how you want to invest. Some things you might want to consider:

    • Commissions (cost per trade)

    • Fees (custody, currency conversion, dividend handling, corporate action)

    • Market availability

    • Trustworthiness

    • Ease of use

    Personally I use Interactive Brokers, Tiger Brokers, DBS Vickers and FSMOne. Each has its own role:

    • Interactive Brokers: To DCA into Irish-domiciled LSE ETFs monthly, trade US stock

    • Tiger Brokers: To trade SGX shares (short to medium-term)

    • DBS Vickers: To buy SGX shares and deposit into CDP (for long-term holding)

    • FSMOne: To sell SGX shares from CDP

    Remember - you need to find a broker that suits your needs. For example, Interactive Brokers would be a bad idea if you invest infrequently due to its 10 USD minimum monthly commission.

    There are plenty of resources here on Seedly if you would like to find a comparisons between brokers.​​​

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      Nicholas Tan Yi Da

      Nicholas Tan Yi Da

      14 Jun 2020

      Level 6·Engineering Systems and Design at SUTD

      Well, one of the factors I will consider is the trading costs involved. To me, if you are looking to get local sgx stocks, I will recommend FSMone as it has very competitive fees compared to Philips or other brokers

      Another factor i will consider is the ease of use of platform. For myself, my original account was philips but i switched to fsmone as i find the UI for philips abit clunky and difficult to use(ok lah, some people like cos it got lots of options/tools, but i find it too messy)

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