Is it cheaper to dca S$1000 monthly into FTEC etf using ibkr or fsmone?

I'm currently using ibkr to dca S$1000 monthly into IWDA, but because it's listed on lse instead of nyse/nasdaq, ibkr charges US$5 commission per trade. Forex exchange commission is arnd US$2+. Since i'm below 25yo, i've alr meet the monthly activity fee (USD3). Hence, will it be cheaper if i dca using fsmone instead? Choosing FTEC over XLK and VGT because of lower expense ratio, and all three tech etfs have similar weightage holdings as well as performance.

FSMOne Fundsupermart Interactive Brokers

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ngsngn

22 Jul 2020

Hi, I just bought IWDA yesterday, my commission is only USD$1.91 for USD$2.7k purchase using Tiered pricing. So if you factor in the USD$2 conversion cost monthly, it's still USD$3.91. Suggest you change to Tiered pricing to save cost. Perhaps you can also consider Bi-monthly to save on your conversion cost?

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Tan Wei Ming

20 Jul 2020

Founder and Writer at Frugal Youth Invests

The commission structure of FSMOne is min $1 or 0.08% whichever is higher. Even if you put $1000 monthly into FTEC, you will still be charged $1 excluding GST. That's $1.07 usd for $1000 monthly. It is a great deal.

Are you using fixed structure? Is the tiered structure more expensive than the fixed??

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