Anonymous
I'm 20 yrs old this year. Currently working (internship + extended). Have ard 10-11k in the bank (1/3 in SCB Jumpstart, remainng in OCBC FRANK) and,
1.4k in Stashaway. I'm looking to open a brokerage account. Any ideas on what securities to get started with and how would I be able to monitor the value of those I purchase?
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Lim Chun Long Jimmy
20 Feb 2020
Co-founder at PolicyWoke (Traded Endowment Policies)
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If you're just starting out, I'd recommend that you go for a local index ETF first β i.e. STI ETF ES3 or G3B.
Not the most exciting of all, but just something to get the momentum started.
That'll form the first component of a basic long-term Boglehead 3-fund portfolio β local index ETF, local bond ETF and a global index ETF. In short, it's like chap chye peng. You own a bit of everything in the whole world.
As you get the hang of the platform you're using β UX, fees, etc. β you can then start reading up more on buying individual stocks.
Whatever brokerage you use will provide you with a monitoring tool, usually through the app.
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Open an account and try it out.
Before, however read on theit websites the complete fee schedules.
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If you're looking to open a brokerage account and you need advice on what securities to start with, one way to do both is to open an advisor-assisted brokerage account with iFast Global Markets. With this account, you will be assigned an investment advisor who is licensed to advice you on what equities to invest in. In addition, you can monitor the amount of shares and face value of equities you invested.