facebookIs FSMOne ideal for buying US stocks? Or should I open other brokerage? - Seedly

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Anonymous

03 Sep 2020

General Investing

Is FSMOne ideal for buying US stocks? Or should I open other brokerage?

As my question title suggested.. I have a FSMOne account, while I understand that other platforms such as TD Ameritrade now conducts 0 Dollars in the processing, even so, should I open other other accounts for the sake of diving in US stocks?

Discussion (5)

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For U.S. equity TD Ameritrade with 0.00 USD fees seems nicest to me, only question how to convert SGD to USD cheaply. TransferWise could be a good candidate.​​​

Hi Anon,

FSMOne is okay to buy US Stocks if you are holding for the long-term and each transactions are at least 4 digits to make the transaction cost worth. Do also take note they have dividend handling fee for US Equities that pay out dividend too (https://secure.fundsupermart.com/fsm/new-to-fsm...)

You can open a TDAmeritrade account as I feel the free commision cost for US Equities is worth it, as you can trade in small amounts at no cost. However, nobody knows if this will be permanent and may be subjected to changes in the future. On the other hand, Tiger brokers has a low-commision cost but it is still relatively new at the moment.

(update me if you need any referral for the aboved mentioned)

By the way, Interactive brokers has competitive commision fees too. One of the cons of it is the up to $10 monthly fee if you do not make sufficient trades amount montly.

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