facebookCan y’all recommend what are the brokerage(s) y’all are using or used that are the best in their categories and explain why? - Seedly

Anonymous

23 Apr 2021

General Investing

Can y’all recommend what are the brokerage(s) y’all are using or used that are the best in their categories and explain why?

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 :)

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Lim Boon Tat

23 Apr 2021

Mathematics at Cambridge University

TDAmeritade and Saxo. Both are almost free, and very well-established. TDamertrade unfortunately deals with U.S stocks only, whereas Saxo can do any market. TDameritrade's platform is wayyyy more customisable and powerful, allowing you to program if you want to (via ThinkScript)

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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