Hi there!
I have used both FSMOne and IBKR. I would definitely say that IBKR is cheaper in the long-run. I understand that for SAXO if you do not open a separate FX account, fees are ridiculously high as every transaction will force you to convert foreign currencies.
Both IBKR and FSMOne offers access to HK, SG, and US markets.
Per trade on FSMOne is a minimum of $10. For IBKR, per trade is about $1. However, IBKR charges a monthly fee of $10 ($3 if you are under 25 years old). If your IBKR account AUM is more than USD100k, the monthly fee is waived. On top of that, every transaction fee you incur offsets your monthly fee. Hence, on a rough estimate, if you are trading less than 10 times in a given month, the maximum fee you will incur per year is $120 ($10 x 12).
Now, this goes back to your investment time horizon as well as your strategy. If you are going to invest lumpsum, and see yourself not making any trades over a span of a few weeks or even months, then I recommend FSMOne.
If you are planning to value average or dollar cost average into your stocks, then I would recommend IBKR. Depends on your expected No. of trades you are going to make.
Now, there is a slight disadvantage on IBKR. During an unexpected spike in volatility in the markets, IBKR tends to 'lag out', their servers will be rather slow for the web portal login. But this shouldn't be a worry since you are intending to hold on to stocks long-term instead of trading off price actions.
TL;DR - If you trade a lot, go for IBKR. Otherwise, FSMOne. (By trading I mean executing trades, not the kind of trading that measures risk-reward stop loss, take profit, technical analysis, etc.)
Hi there!
I have used both FSMOne and IBKR. I would definitely say that IBKR is cheaper in the long-run. I understand that for SAXO if you do not open a separate FX account, fees are ridiculously high as every transaction will force you to convert foreign currencies.
Both IBKR and FSMOne offers access to HK, SG, and US markets.
Per trade on FSMOne is a minimum of $10. For IBKR, per trade is about $1. However, IBKR charges a monthly fee of $10 ($3 if you are under 25 years old). If your IBKR account AUM is more than USD100k, the monthly fee is waived. On top of that, every transaction fee you incur offsets your monthly fee. Hence, on a rough estimate, if you are trading less than 10 times in a given month, the maximum fee you will incur per year is $120 ($10 x 12).
Now, this goes back to your investment time horizon as well as your strategy. If you are going to invest lumpsum, and see yourself not making any trades over a span of a few weeks or even months, then I recommend FSMOne.
If you are planning to value average or dollar cost average into your stocks, then I would recommend IBKR. Depends on your expected No. of trades you are going to make.
Now, there is a slight disadvantage on IBKR. During an unexpected spike in volatility in the markets, IBKR tends to 'lag out', their servers will be rather slow for the web portal login. But this shouldn't be a worry since you are intending to hold on to stocks long-term instead of trading off price actions.
TL;DR - If you trade a lot, go for IBKR. Otherwise, FSMOne. (By trading I mean executing trades, not the kind of trading that measures risk-reward stop loss, take profit, technical analysis, etc.)