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ETF

As per below - consider Saxo / Interactive Broker. On the fees, IB doesn't have custodian fees but do note they have a fixed monthly account maintainance fee (waived for accounts with AUM more than USD100k) whereas Saxo do custodian based on percentage charge of 0.12% p.a https://seedly.sg/questions/i-m-looking-to-get-started-with-index-investing-and-learned-that-i-should-be-buying-them-on-lse-due-to-the-withholding-tax-but-which-brokerage-should-i-be-using-for-optimal-costs-and-fees

Investments

FSM One

Online Brokerages

Hi anon, Dividend withholding tax of 30% needs to be paid if you are RSP-ing into anything that's listed on a US exchange, after you declare with the W8-BEN form that the beneficiary owner of the amount received from U.S. sources is not a U.S. person. You should also examine your transaction costs to see if it makes sense. You will likely incur custodian costs as well. If you were RSP-ing into a UT that tracks S&P 500 (e.g. Lion Infinity Global Stock Index), then W8-BEN is not needed, and there should be no transactional costs nor platform fees.

Investments

Online Brokerages

If it may help you, although POEMS has a custody charge, idle funds in POEMS account will earn returns in a money market fund, which does help clients offset their custody fee. As an alternative way to look at it, returns from a good stock will more than pay for the custody fee, so the custody fee helps you to be more critical of what shares to buy.

Investments

Regular Shares Savings Plans (RSS)

PhillipCapital (POEMS)

Online Brokerages

Hi anon, Based on your monthly budget, you can check out OCBC and POSB even, to see what the charges would be like. I believe POEMS has the widest range of shares for you to choose from though, but I am not a fan of RSS as I prefer to wait for the right pricing for my shares before buying instead of committing an amount every month for the long term. You can automate the buying through any RSS scheme should you decide to proceed, but compare the scheme first to ensure your ransactional costs are minimized. If it's still high (say, 0.5% or more), you might not want to do RSS and should consider UT RSP instead.

Investments

Stocks

Online Brokerages

Harvey Tan
Harvey Tan
Level 6. Master
Answered on 28 Jul 2019
Interactive broker

Investments

Stocks Discussion

ETF

Online Brokerages

Brokerages

Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Updated 3w ago
Minimum share is 1 share. I have bought IWDA in less than 100 shares before...

Online Brokerages

Investments

Trading

SAXO Capital Markets

Depends a bit what you are comparing against, For payment services (credit cards) - 0.5% is very competitive compared to fees that banks hit you with (ranges from 3-4%) For pure FX brokers - 0.5% still competitive but attainable for various sources but the advantage, in this case, is that you have it integrated with your share trading facility.

Investments

Property

Stocks Discussion

Retirement

Equities

Investment Linked Policies (ILP)

Endowment Policies

General

Cryptocurrency

Fresh Graduates

Ultimate Hacks: Adulting

Online Brokerages

Stocks

Fixed Deposits

REITs

ETF

STI ETF

StashAway

Hi anon, First thing would be to beef up your savings a little. Although you will only start graduate and start work in 3 years, it would be prudent to have a small emergency fund of at least 6 months expenses. Also, ensure you have at least a hospitalization policy in place, in the event of any unforeseen health issues. You may consider critical illness coverage after you start work unless you wish to get one now due to lower premiums at your age. If you have a medium to high-risk profile, then I would recommend that you can consider going 60%-75% into equities, equity funds, or ETFs, depending on the sector and risks that you prefer. This assumes that you do not have any defined timeframe with which that you need the money. The remaining allocation can be placed in fixed income or kept as a warchest for further opportunities. Property as an investment can be done as well, but capital outlay will be bigger and I do not think $50000 is quite enough to split between all the asset classes I have mentioned. However, with due consideration to the big picture, also remember to balance your risk, as well as how you will continue to add on to your investments in time to come. Some question which I will pose to you to think about include: - What do I want my money to do for me? - What is the level of risk that I will want at different stages of my life? - Will the asset class I choose give me the return I want, and with what risk? It will be advisable for you to understand all the options on the table before selecting the one(s) that you are comfortable with. If you have more specific questions, you can reply to this post and I'll weigh in with my own thoughts.

Online Brokerages

TransferWise

Dany Leong
Dany Leong
Level 2. Rookie
Updated on 30 Jun 2019
I have. They are very good and you save loads in fees. I’ve used it to transfer 300k of funds to NZ and some large sums to Msia.

Online Brokerages

Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Answered on 18 Sep 2019
You can open a DBS multicurrency account. This allows you to hold USD and you can decide when to convert to SGD
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