Anonymous
Interactive brokers or standard chartered? ?
If i am only investing about 1,000 a month into one stock, which is more economical: interactive brokers or standard chartered? i am currently using standard chartered as i don't like the minimum monthly commission of $10 charged by ib. does anyone think differently?
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Cedric Jamie Soh
02 Sep 2019
Director at Seniorcare.com.sg
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Interactive Broker is very cheap, with the lowest fee in the world (probably) and the widest range of products. They are known as mass-market stock brokers.
If you are doing only $1000 a month, it can still be cheaper in IB despite the $10 monthly fee by IB, if your stock is bought in overseas currency. This is because IB's forex rate is hugely cheaper than Standard Chartered Bank or any other banks. You're saving quite a big difference on the forex.
Plus, not sure abt SCB, but most stockbrokers or banks charge fees for stock dividends management and other crap fees. Interactive Brokers does not.