Anonymous

15 Feb 2020

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Excessive custodian fees charged by DBS for foreign stock holdings?

Is everyone aware that DBS charges clients custodian fee for foreign stock holdings of MINIMUM S$100 per half-yearly for each foreign market?! So, if you have stock holdings, regardless the balance, at any given point during the half-year, let's say in US and HK, you will be charged S$200 per half-year, or S$400 per year. Excessive much!?

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Frankie Rappaport

14 Feb 2020

Yes, this sounds too much.

look for different online brokers, the fee schedules are changing constantly.

f.ex. in the U.S. brokerages like TD Ameritrade or Charles Schwab have

0.00 USD commission fees and no maintenance fees, maybe interesting if in need

of buying U.S. stocks (however only american market and witholding taxes 15%+15%)

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Is it true that there is no custodian fee when holding stocks bought from foreign market? Is there any special condition/hidden fees for it?

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