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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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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Kannan R
Kannan R
Level 2. Rookie
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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Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Updated on 26 Jun 2019

The common brokers brandished here are Td Ameritrade and interactive brokers. Both will allow you to access the US market. I'm using TD Ameritrade personally and I find it very user friendly, with a great charting tool. There are no inactivity, custodian or data feed fees as well.

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Cheng Yuan Yong
Cheng Yuan Yong

26 Jun 2019

Would u wanna take a look at, DollarDex? ("'')(^_^)(''")
Jonathan Chia Guangrong
Jonathan Chia Guangrong

26 Jun 2019

Mm does dollar dex allow purchase of ETFs?
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
Darren Chew

27 Jun 2019

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

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.