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Currently use scb as it took the fastest to set up and convenient to transfer money with live fx.
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JeffreyLeeZQ
20 Apr 2021
Writer at Jeffreyleezq.com
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Dude why DCA with SCB and pay monthly 10.70?? Assuming you DCA monthly.
FSMone offers a Regular Savings Plan (RSP) at 1USD per monthly DCA. Check that out. If you're planning to DCA weekly, then you're better off with a low commission broker like tiger/moomoo/TD (BEST cuz free). Or possibly IBKR.
I have FSMone and Tiger, opened and all approval within an hour.
7N8LGH my tiger referral code. Heard there's a Disney share promo now. Do check it out. I think free disney share if you top up 2k, free 5 trades. Tiger each trade is 1.99USD plus GST is 2.14USD. But I'd go with FSMone for DCA using the RSP.
Just my 2cents worth. You do you.
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I would go at least $1.5-$2k while using scb...
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Try to DCA with a higher sum if possible now, in order to lower your costs.
Long term wise, once you accumulated more Assets Under Management (AUM) with Standard Chartered Bank and reach priority banking, you get perks like no minimum brokerage fees, where you can literally buy one share and be charged the brokerage fee of that one share only, subject to no minimum brokerage fee.
There are also no holding fees or custodian fees involved.
Cheers and all the best in your investment journey! :)
- Jeffrey (jeffreyleezq.com)āāā