facebookWhich broker would you recommend for investing in the US stock market with low brokerage fees? What do you think about Etoro? - Seedly

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          Anonymous

          11 Jun 2020

          βˆ™

          General Investing

          Which broker would you recommend for investing in the US stock market with low brokerage fees? What do you think about Etoro?

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              Discussion (4)

              What are your thoughts?

              I have not used etoro before but heard only bad things about it.

              In my experience, there are a few brokers that people recommend to trade US stocks in Singapore. They are IB, Saxo, SCB and more newly, Tiger Brokers.I will list the pros and cons of each broker:

              IB - one of the most competitive commission and forex rates in the industry, but charges 10 USD in monthly minimum commission if total value of account is below 100k USD. No custody fees

              Saxo - also has competitive commission rates. 0.75% spread on forex. 0.12% custody fee per annum.

              SCB - for larger trades, higher commission compared to IB and Saxo. Approximately 0.4% spread on forex. stocks count towards SCB Priority qualification. Priority members get lower commission and no minimum commission. No custody fees

              Tiger - Cheapest (for now) but also the newest. Coming from China, some might question their trustworthiness. However because they are new they have promotions to attract new users. There's another post on seedly where you can see the details of the promotion - https://seedly.sg/questions/anyone-has-a-tiger-...

              Do note if you are investing in Irish-domiciled US ETFs on LSE, Tiger does not offer that at the moment. This may be significant to you as withholding tax is 15% instead of 30%.

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                  If am not mistaken you don't own the stocks in etoro.

                  I tried comparing several brokers and it seems that the cheapest right now is tiger broker. Not to mention their on going promotions.

                  Been using tiger for two to three weeks now. Commission is indeed cheap compared to other brokers. Good for those with small fund and just starting like me. Made multiple trades for several stocks and i paid in total the same fee i will pay for one trade for other brokers. Only cons is it is new. I asked them how safe it is and they said my investment is saved in a third party account. Just need to closely monitor if it is indeed a good broker for the long run.

                  You can try it and use my below referral, both of us will benefit.

                  https://www.tigerbrokers.com.sg/market/sg-invit...

                  Promotion right now is we will earn up to 200 stock voucher (depending on the funding). Plus one free commission trade and level 2 US data.

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                      ZT

                      Zachary Teo

                      14 May 2020

                      Level 8Β·Art Director at Ad Agency

                      Hey Anon! I am currently using Interactive Brokers. They have the lowest brokerage fees. However, th...

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