Any saxo user has used saxo to invest S&P 500 more than and equal to SGD $10K? Would like to know how is the charges like and it is worth using Saxo to invest? - Seedly
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Anonymous

Asked on 22 Aug 2020

Any saxo user has used saxo to invest S&P 500 more than and equal to SGD $10K? Would like to know how is the charges like and it is worth using Saxo to invest?

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    Nicholas Beh

    Nicholas Beh

    Level 7. Grand Master

    Answered on 24 Aug 2020

    If you are investing into the S&P 500, you may want to consider investing into an Irish-domiciled ETF (CSPX/IDUS/VUAA/VUSD) instead of a US-domiciled ETF (SPY/IVV/VOO) as they tax dividends at a rate of 15% instead of 30%.

    I suggest using other brokers instead - Saxo charges 0.12% p.a. in custody fees and 0.75% in currency conversion fees. Interactive Brokers and Standard Chartered are both better options.

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    Frankie Rappaport
    Frankie Rappaport

    24 Aug 2020

    Everything excellent advice
    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post
    Frankie Rappaport

    Frankie Rappaport

    Level 10. Unicorn

    Answered on 23 Aug 2020

    TD Ameritrade charges anyway no fees on trading U.S. equity, recently

    0

    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post