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Anonymous
Minimum amount for DCA into Tiger Brokers
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thefrugalstudent
16 May 2021
Founder at thefrugalstudent.com
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Tan Choong Hwee
16 May 2021
Solutions Specialist at Providend
Well, commission with Tiger is pretty low, particularly with their no minimum charge promotion for SG stocks until 31 Dec 2021. I guess you can set the minimum amount to DCA to at least meet the minimum charges.
For example, their charge for US stocks is USD0.01 per share with minimum USD1.99 per order, you may set minimum 199 shares for each DCA amount.
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Hi Anon,
To me, I believe I should invest an amount such that the fees from DIY is at least lower than the fees charged by Robos. Otherwise, you'll probably be better off using Robos anyway rather than DIY DCA.
Assuming US investments, the fees are about 2.13 USD (including GST). A benchmark for Robo fees can be 0.65% (Syfe). This means you should aim for a monthly DCA of about 330 USD or 440 SGD. Of course if you can DCA more, it means your fees will be lower than 0.65% and that will be better.
Hope this helps & all the best!
Regards,
thefrugalstudent