facebookIf i would like to buy and hold investments in stock market for 5-10 years, should i go with SaxotraderGO? Does the platform allows me to have long term holding or only for day trading? - Seedly
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Zaid Zed

Zaid Zed

Level 4ยทInvestor/risk management at financial firm

25 Jun 2020

If i would like to buy and hold investments in stock market for 5-10 years, should i go with SaxotraderGO? Does the platform allows me to have long term holding or only for day trading?

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    What are your thoughts?

    TD Ameritrade and FSMOne or POEMS are all what You need.

    Trading fees are so low today, for buy & hold investor almost unimportant.

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      Nicholas Beh

      Nicholas Beh

      16 Jun 2020

      Level 12ยทStudent Ambassador 2020/21 at Seedly

      SaxoTraderGO is their trading platform - you will still need a Saxo account to trade on it, which comes with its associated fees. Their platform allows for long-term holding.

      Generally, I do not recommend Saxo for their currency conversion fee (0.75%), custody fee (0.12% p.a.), and high commissions of minimum 8 GBP on the LSE if you plan to hold Irish-domiciled ETFs for lower withholding taxes.

      To determine what broker is best for you, you need to consider a few things first:

      • Commissions (cost per trade)

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

      • Market availability

      • Trustworthiness

      • Ease of use

      You can read my other answers here and here where I did a comparison between 4 brokers - Saxo, SCB, Tiger and IBKR.โ€‹โ€‹โ€‹

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        Ngooi Zhi Cheng

        Ngooi Zhi Cheng

        16 Jun 2020

        Level 7ยทStudent Ambassador 2020/21 at Seedly

        Yes, SaxotraderGO allows you to have long term holdings. However if you are just starting out and on...

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