Hi Anon,
I can't really comment on DBS DigiPortfolio as I don't use it, however I'm using the OCBC BCIP.
From what I read on the website of DBS' DigiPortfolio, you get to choose between SG and UK ETFs (denominated in USD), however you cannot choose which ETFs to invest in. The portfolios that they offer to you is based on your risk profile, which is similar to how a robo-advisor works. However, you'll need a minimum invest of SGD$1000 or USD$1000 depending on the portfolio that you choose.
With regards to BCIP, it is a RSP where you put in a sum each month (min $100) and you can choose to either invest in blue chip stocks or a few ETFs. This is the difference as you can decide which stocks you would like to invest in.
If you are a new investor, and are not that sure about which stocks or ETFs to pick, going with a roboadvisor like DigiPortfolio will be a good way to start. But you need to make sure that you know your risk profile well and are able to stomach a drop in your portfolio in the short term!
You can choose to invest in the STI ETF by yourself using the BCIP, but FSMOne is a more cost effective way to invest in a specific ETF.
OCBC charges a 0.88% transaction fee if you are less than 30 years old, but after 30 years, it will be 0.03% with a minimum of $5. So it may no longer be cost effective after 30 years old unless you have a large sum to invest each month.
FSMOne RSP meanwhile charges a flat transaction fee, so if you put in a larger amount each month, the proportion that the fee takes up as part of your whole investment is lower. So it will be more cost effective to use FSMOne.
I'm personally using BCIP to purchase individual stocks and accumulating as much of the stock as I can before I reach 30 years old and then I will cancel the RSP.
Hi Anon,
I can't really comment on DBS DigiPortfolio as I don't use it, however I'm using the OCBC BCIP.
From what I read on the website of DBS' DigiPortfolio, you get to choose between SG and UK ETFs (denominated in USD), however you cannot choose which ETFs to invest in. The portfolios that they offer to you is based on your risk profile, which is similar to how a robo-advisor works. However, you'll need a minimum invest of SGD$1000 or USD$1000 depending on the portfolio that you choose.
With regards to BCIP, it is a RSP where you put in a sum each month (min $100) and you can choose to either invest in blue chip stocks or a few ETFs. This is the difference as you can decide which stocks you would like to invest in.
If you are a new investor, and are not that sure about which stocks or ETFs to pick, going with a roboadvisor like DigiPortfolio will be a good way to start. But you need to make sure that you know your risk profile well and are able to stomach a drop in your portfolio in the short term!
You can choose to invest in the STI ETF by yourself using the BCIP, but FSMOne is a more cost effective way to invest in a specific ETF.
OCBC charges a 0.88% transaction fee if you are less than 30 years old, but after 30 years, it will be 0.03% with a minimum of $5. So it may no longer be cost effective after 30 years old unless you have a large sum to invest each month.
FSMOne RSP meanwhile charges a flat transaction fee, so if you put in a larger amount each month, the proportion that the fee takes up as part of your whole investment is lower. So it will be more cost effective to use FSMOne.
I'm personally using BCIP to purchase individual stocks and accumulating as much of the stock as I can before I reach 30 years old and then I will cancel the RSP.