I really want to invest in US S&P 500. I see so many people giving different recommendations. Can you please recommend which brokerages or organisations I can use to invest small amounts monthly? - Seedly
 

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Asked by Anonymous

Asked on 25 Jun 2019

I really want to invest in US S&P 500. I see so many people giving different recommendations. Can you please recommend which brokerages or organisations I can use to invest small amounts monthly?

I heard somewhere that I should choose a brokerage which provides good fees. Certain brokerages are better when investing in the US market so on and so forth, hence anyone has any recommendations for the US S&P500? Thanks!

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Darren Chew
Darren Chew
Level 5. Genius
Updated on 27 Jun 2019

Based on what i know, you can't invest on S&P 500 ETF on a monthly basic.

The alternative is to invest in a Unit Trust fund that invest directly into S&P 500 index.

The unit trust name is Infinity U.S. 500 Stock Index Fund.

You can invest this on POEMS platform from $100 per month and there are no sales charges, switching fee and platform form.

However, do noted that you have to first invest $1,000 into this fund as that is the minimum investment amount required before you can commence your monthly investment.

Hope that help.

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Darren Chew Teck Siong
Darren Chew Teck Siong

on 27 Jun 2019

You are welcome. any queries, can just check with me.
Tan Wei Ming
Tan Wei Ming

on 27 Jun 2019

I guess what he meant is to buy into S&P 500 ETF every month manually. It's possible to do so as the number of shares per lot is small.

Hi,

The simplest way i would say is to create a brokerage account with brokers who giver access to foreign markets such as Saxo, DBS Vickers etc. I personally use Saxo. Buy into the S&P 500 on a monthly basis, but of course this isn’t a DCA programme, rather you have to purchase it every month, also for Saxo the fees to invest in the U.S is one of the lowest, also S&P 500 is USD250+, so in SGD it will cost almost SGD400. This is just one way to do it, do your own research and see what fits you. Hope this helps.

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Question Poster

on 27 Jun 2019

Thank you. I think I will go with the Saxo option after doing all the due diligence. I see 2 Saxo apps. Saxo Trader and SaxoInvestor. I assume I should get the SaxoInvestor app right?
Shabir Khan

on 28 Jun 2019

Yes that’s correct
Kannan R
Kannan R
Level 1. Freshie
Answered on 02 Jul 2019

Hi guys. Try the app - my wall st on android or iOS . they are US based and have their own brokerage based in the US - they allow fractional share investing and the commission is like 0.99 per trade. Foreigners are eligible and setting up the account is easy and just 5 dollars.

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