Asked by Anonymous
Asked on 25 Jun 2019
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!
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.
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.
on 27 Jun 2019
on 28 Jun 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.