I am 20 years old and I am a beginner in stock investment. What would be the best brokerages for me to start my investing journey with?
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Bad experiences with philip.
as a beginner, i wanted to educate myself by attending seminars and have someone to ask questions. but the seminars are usually some sales pitch for a magic formula trading course.
and the brokers could not be bothered with me.
had much lesser issues when i use 2 big local banks in house brokerages. am still using these two brokerages.
but, if you ultimately want only one single platform to access all your shares, unit trusts, insurances, i guess philip is an option you might consider.
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First of all: I like Phillip Capital's POEMS brokerage platform very, very much.
When You compare different brokerages, You have to integrate a lot of stuff (for me in that order):
-ease of opening an account
-commission fees
-other fees ('account maintenance', transfers, currency exchange)
-markets covered
-support with problems
-education (seminars, teachings online)
-etc. ...
For POEMS:
Opening an account is very easy.
With a prepaid account the fees are O.K. (like in U.S. one can expect the
commission fees to drop - maybe to zero - in the future.
Would be nicer if there would be no account maintenance and foreign shares custody fees.
The staff was super supportive (phone, email).
I see myself not as a beginner, so maybe not in need of education.
I like also their Market Journal, interesting articles:https://www.poems.com.sg/market-journal/
f.ex. this one: https://www.poems.com.sg/market-journal/rise-of...
bye, good luck
Frankie