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Oaks

Education at Private

20 Feb 2021

∙

General Investing

Which platform should i use to buy ONLY S&P 500 index fund, no other stocks?

Hi, I want to buy the s&p500 index fund, which platform should i use? TD ameritrade, Tiger, IBKR? ONLY for SNP500 index fund, no other stocks?

Which platform will give me the lowest of cost and provide ease of transaction overall? also should i dca 100/month into the index or save it up and put lump sump every 6months/year?

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Chris

20 Feb 2021

Owner and Writer at Tortoisemoney.com

If we're only looking between the 3 that you provided and only using a ticker that all 3 brokers have access to, TD Ameritrade is definitely lowest cost because it is free comms.

However, considering TD Ameritrade's ridiculous account approval times, you might wish to go with Tiger Brokers (1.99 usd per trade), since your trade size and frequency is small. IBKR is probably not a good choice for you since they have an inactivity charge.

If you choose the use TD Ameritrade, you can DCA every month since the comms are free. However, if you're using any of the other options, you can try every 6 months instead to spread out the comms instead.

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