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Anonymous
MooMoo SGX Stocks Fees is high(?)
I was thinking of slowly building dividends portfolio. I was thinking to DCA into ES3 every month myself ($100).
I'm 24F this year, beginner investor and i am also building growth portfolio on the other hand too.
I tried buying in ~30 shares and i realised the fees itself (including platform fee and comission) was $4+? is this even normal? or its too expensive?
Where should I buy SG stocks with low fees considering I am going to DCA every month?
Edited: Thank you to everyone for your reply. Appreciated
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Hey. When I was starting, I used the RSP (Nikko AM Singapore STI ETF)of DBS to build my portfolio. DBS charge 0.82% per transaction which means you need to pay $8.20 per $1000 invested.
It gives decent dividends but since joining Seedly I learned so much about taking into consideration the fees involved.
Since then, I started using FSMone, their fees for Monthly Regular Savings Plan (RSP) Buy Only is 0.08% or min SGD 1 (SGX) & 0.08% or min USD 1 (US) which is much more reasonable. As for sell, the fees is SGD8.80/USD8.80 which I think won’t really matter that much especially if you plan to hold your investments for a long time.
Good luck & hope you find what fits you.
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If you don't mind, you can try unit trusts offered by DBS or OCBC. sales charge 0.82% or 0.88% respe...
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FSMone. I DCA ES3 for $200 per month. The fee only $1+.