facebookWhat is the cheapest brokerage if I want to invest into QQQ etf only? $15k lump-sum, followed by $250 DCA monthly. I'm 21yo, graduating uni next year so planning to buy QQQ for income growth. Any advice? - Seedly

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Anonymous

18 Sep 2020

βˆ™

General Investing

What is the cheapest brokerage if I want to invest into QQQ etf only? $15k lump-sum, followed by $250 DCA monthly. I'm 21yo, graduating uni next year so planning to buy QQQ for income growth. Any advice?

I know about certain brokerages fees are trade commission based vs AUM. Not sure in my case of lump-sum followed by dca which brokerage is the best? I plan to hold for 5years or so only, not for 15years. Total invested amt will be arnd $30k. Currently only choosing this one etf because I think my portfolio is diversified enough, I have 26% risk in Stashaway and Syfe 100%reit+ and some sg bank stocks. (have a separate $25k cash in bank and insurances settled. no tuition loan.)

Discussion (11)

What are your thoughts?

Tiger broker or TD Ameritrade has the lowest commissions for stock shares which you can consider :)

Rahul Wadhwa

Rahul Wadhwa

18 Sep 2020

Level 8Β·Student Ambassador 2020/21 at Seedly

Hi Anon,

For US markets, TD Ameritrade will be the cheapest broker.

Unfortunately, the account opening takes quite a while.

While waiting for your account to open, you could use IBKR or Tiger Brokers.

If planning to hold long term, get eqqu, Ireland domiciled. Because dividends iwll only increase in the long term. And you do not want to be affected by taxes

If going for tech etf, OGIG is in my watchlist.

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For the choice of ETF, I would suggest you may also want to consider XLK and VGT ETF as well assumin...

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