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Anonymous

12 Mar 2020

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General Investing

Should I just use one brokerage for 2 markets or two separate brokerages?

Hello! I am just starting to invest and am looking to invest in both Singapore stocks (for dividends) and US stocks (for growth). I am wondering if it would be better if I just use SAXO for both, meaning the account will be in SGD. Or should I use SAXO purely for US market, and account will be in USD. And maybe DBS vickers for Singapore stocks since it can add on to multiplier too. My investment amount will not be big, perhaps only a few thousand for each stock.

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Frankie Rappaport

12 Mar 2020

This depends on the relative fees of the 2 brokers (commission/trading fees, direct/indirect account management fees). with only f.ex, TD Ameritrade there are for ETFs and U.S. stock no commission fees and
no account fees, however 30% dividend withholding tax for Singapore tax subjects are applicable

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