Looking for a platform to RSP to US UT/ETF. Saw that FSMOne or TDA is good. Does anyone do it with Tiger Broker/Poems?

I'm currently RSP $300 into 2 UT in iFAST with my FA.

I'm considering to add another $300 monthly into UT or ETF. However, the sales charge for iFast is 2.5% and platform fee is 0.28% which seems to be quite high compared to any of the other platforms.

Looking for a platform that's cheaper but I'm not sure which platform should I use.

Tiger Brokers TD Ameritrade POEMS by PhillipCapital FSMOne Fundsupermart

5

Discussion (5)

What are your thoughts?

Learn how to style your text

CH

13 Apr 2021

Used poems before. lousy broker and customer service. not recommended.

i am using tda, but have to manually enter buy order every month. no auto function.

Reply

Save

Chris

13 Apr 2021

Owner and Writer at Tortoisemoney.com

I can't speak for POEMs as I've not tried out their service, but if you wish to regularly add to another ETF, FSMone (RSP only), TDA and Tiger are all good options.

FSMone's RSP charges 0.08% with the minimum being USD1 per purchase. Downsides are high cost on selling as full comms are charged on sale. Also, for FSMone, you're limited to the ETFs on their RSP scheme which does not include all ETFs, although the selection is quite extensive.

Tiger and TDA are quite similar in that they are both low cost brokers (TDA having the edge with zero comms, Tiger at USD1.99). Both also do not have platform charges. TIger does have an edge in no withdrawal charges, super fast deposit/withdrawals, fast account approval and additional market access (HK, SG, AU, CN). However, of course, TDA's edge is in better FX rates and being more established in general.

If you do choose to use Tiger, do consider using my referral link below:

https://www.tigersecurities.com/accounts?invite...

Reply

Save