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We all want to save some fees here and there!
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Pang Zhe Liang
25 Apr 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
Seedly has a comparison based on users' review. Check it out: https://seedly.sg/reviews/online-brokeragesβββ
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Eric Ong
05 Dec 2019
Project Analyst at 8Bit Global
Singapore Stocks - POEMS
US Stocks - TD Ameritrade
Other International Stock - Interactive Brokers
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I use Stand Chart for local and IB for all others! They got one of the most competitive fees in the market.
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Jonathan Chia Guangrong
05 Dec 2019
SOC at Local FI
Locally I'm using Maybank ke. My broker's been great and responsive with prompt follow ups.
US mark...
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Hi HY, I am personally using DBS Vickers and IBKR hence it should be quite similar with your strategy.
For US stocks, it is generally cheaper to be investing via an overseas brokerage account compared to the local ones such as those by the local banks. IBKR charges around USD$1 per trade, and they use spot rates for their FX. Hence both could help you save quite a bit.
That said, should your account holds less than USD$100k, IBKR charges USD$10 per month outstanding of any trading fees for the transations you make for the month. For example, for 3 trades it'll be $3 in trading fees. Overall you'll be charged an additional $10-$3=$7 for that month.
Some are detered by the USD$100k rule and hence resort to using Saxo or TD instead. You could also keep these as considerations.βββ