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JeffreyLeeZQ
20 Mar 2021
Writer at Jeffreyleezq.com
Wah. 5% trading fee is too expensive man. It is not common.
Seedly actually wrote an article before, comparing between the various regular savings plans: https://blog.seedly.sg/which-regular-savings-pl...
Do check it out!
Cheers.
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If you are below 30 years old is only, it's only Flat rate of 0.88% of the total investment amount. From my analysis & calculation, Below 30 years, best to use BCIP with monthly investment less than 500, if more better opt for a higher lump sum and invest directly with a brokerage account. If you are 30 years and above, with the fee of 0.3% of the total investment amount or S$5 per counter, whichever is higher, monthly investment of 1200 to make the $5 fee worth but if is anywhere above 3k then use brokerage account (suggested DBS Vicker Cash Upfront which is only $10 and direct CDP.
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IMO, itโs not worth it!!
$5/$100 = 5%... losing 5% each month, you can put that money in better places such as stocks or robo-advisors!
Or you can increase your capital to reduce the $5 fee!
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Joel Lim Cy
18 Mar 2021
Banking and Finance at Singapore Polytechnic
You could do this on your own. Paying them 5% every month diminishes a significant portion of your p...
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5% transaction fee is way too high. And definitely not common. There are other monthly investment plans out there (e.g. POSB investsaver, POEMS), which charge transaction fees of less than 1%.
If you can only afford $100/month, how about going for a robo-advisor instead? They offer instant diversification and charge a much lower fee, both of which contribute to much better long-term returns.