Asked on 14 Nov 2020
Cos I understand the need to pay as little fees as possible but
some brokerages dont offer certain markets or
charge less for some markets or
may charge extra or hidden fees.
Also would like to know which brokerages charge least for options contracts and related
Would greatly appreciate all and any advice and am grateful to have found this cool community :)
TD Ameritrade (soon merged into Charles Schwab): good and zero fees
POEMS: standard (big disadvantage: sending money into account from abroad takes virtually weeks to appear in the account, how is that possible?). On the other hand they reacted extremly quick to open also the MFA App option in my country over here.
The broker I use is FSMone, I use it to invest in US ETF monthly. One thing I like about FSMone is the low fees for monthly RSP(aka DCA). The foreign exchange rate is considered quite good. One thing I don’t like is the dividend handling fee. Every quarter when my investment pay off dividend, FSMone will charge a fee too. (On top of US dividend withholding tax)
Hidden fees to look out for when choosing broker
Custodian fee ( Usually is pa)
High currency exchange fee ( everytime u convert currency)
Dividend handling fee (Everytime you receive dividend)
Don’t just look at brokerage fee, sometimes the hidden fees are significantly higher than the brokerage fee.
Firsttrade and tiger. wanted to open td but heard that opening takes at least a month...
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