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Nicholas Beh
14 Jun 2020
Student Ambassador 2020/21 at Seedly
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Nicholas Tan Yi Da
14 Jun 2020
Engineering Systems and Design at SUTD
Well, one of the factors I will consider is the trading costs involved. To me, if you are looking to get local sgx stocks, I will recommend FSMone as it has very competitive fees compared to Philips or other brokers
Another factor i will consider is the ease of use of platform. For myself, my original account was philips but i switched to fsmone as i find the UI for philips abit clunky and difficult to use(ok lah, some people like cos it got lots of options/tools, but i find it too messy)
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Hi, it's difficult to determine what brokerage firm is best for you without knowing about how you want to invest. Some things you might want to consider:
Commissions (cost per trade)
Fees (custody, currency conversion, dividend handling, corporate action)
Market availability
Trustworthiness
Ease of use
Personally I use Interactive Brokers, Tiger Brokers, DBS Vickers and FSMOne. Each has its own role:
Interactive Brokers: To DCA into Irish-domiciled LSE ETFs monthly, trade US stock
Tiger Brokers: To trade SGX shares (short to medium-term)
DBS Vickers: To buy SGX shares and deposit into CDP (for long-term holding)
FSMOne: To sell SGX shares from CDP
Remember - you need to find a broker that suits your needs. For example, Interactive Brokers would be a bad idea if you invest infrequently due to its 10 USD minimum monthly commission.
There are plenty of resources here on Seedly if you would like to find a comparisons between brokers.