What brokerage do you use, for both SG stocks and other international stocks like US, and why? - Seedly
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Bjorn Ng

Asked on 04 Dec 2019

What brokerage do you use, for both SG stocks and other international stocks like US, and why?

We all want to save some fees here and there!

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I use POEMS, but well, that's because I have to. Prepaid rates are reasonable though, for most markets. And I'm not too fazed by SG brokerage due to the fact that most CDP linked brokerage firms charge roughly the same amount.

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Jacob
Jacob
Level 6. Master
Updated on 26 Apr 2020

Hi HY, I am personally using DBS Vickers and IBKR hence it should be quite similar with your strategy.

For US stocks, it is generally cheaper to be investing via an overseas brokerage account compared to the local ones such as those by the local banks. IBKR charges around USD$1 per trade, and they use spot rates for their FX. Hence both could help you save quite a bit.

That said, should your account holds less than USD$100k, IBKR charges USD$10 per month outstanding of any trading fees for the transations you make for the month. For example, for 3 trades it'll be $3 in trading fees. Overall you'll be charged an additional $10-$3=$7 for that month.

Some are detered by the USD$100k rule and hence resort to using Saxo or TD instead. You could also keep these as considerations.​​​

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Eric Ong
Eric Ong, Project Analyst at 8Bit Global
Level 6. Master
Answered on 05 Dec 2019

Singapore Stocks - POEMS

US Stocks - TD Ameritrade

Other International Stock - Interactive Brokers

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Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 04 Dec 2019

Personally I use SAXO and Standard Chartered.

The former because of the reach and affordability.

The latter because it's one of the first accounts I opened, and didn't really bother to shift!

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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered on 06 Jun 2020

Maybe POEMS for SGX

and

TD Ameritrade for U.S.

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Munting Tan
Munting Tan
Level 3. Wonderkid
Answered on 05 Dec 2019

I use Stand Chart for local and IB for all others! They got one of the most competitive fees in the market.

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Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 9. God of Wisdom
Answered on 05 Dec 2019

Locally I'm using Maybank ke. My broker's been great and responsive with prompt follow ups.

US market, I'm using TD Ameritrade where I pay 5 USD minimum for stock transactions (community rate). Like this platform for its robustness and ease of use and there are no other fees involved.

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Wallace Chai
Wallace Chai
Level 9. God of Wisdom
Answered on 04 Dec 2019

Basically i used FSM for local SG stocks as their platform is very easy to use. The commission is also among the cheapest of all. For international, i love interactive brokers as it is the cheapest as well. After all, if you are a little bit more active, cheapest commission is to go for sure.

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Sudhan
Sudhan
Level 6. Master
Updated on 04 Dec 2019

I use DBS Vickers cash-upfront for SG stocks and FSMOne for US stocks (even though it offers trading of SG shares too). I prefer to have my local shares under CDP and therefore, I'm not using FSMOne for SG stocks. DBS Vickers cash-upfront commission is low at around S$10. For FSMOne US stocks, the commission is around US$9. ​​​

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Sanchit
Sanchit
Level 6. Master
Answered on 04 Dec 2019

I would suggest to explore Interactive Brokers for international stocks especially because the low fee and the diversity of products they offer.

For local stocks, all the local banks are equally good (SCB/ DBS etc) however if you're a priority bank with any, I would suggest to go with that broker.

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Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered on 04 Dec 2019

SCB for international stocks - Hold long term for dividends, hence impt no custodian fees, dividend handling fees

DBS Vickers for local stocks - CDP linked, $10/trade for pre-funded transaction

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Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 04 Dec 2019

Hi Bjorn,

I uses StanChart for both SG and international stocks. I'm lazy to switch to other trading platforms, and I think their UI is more intuitive now compared to the last time just that there's delayed pricing info.

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Choon Yuan Chan
Choon Yuan Chan
Level 9. God of Wisdom
Answered on 04 Dec 2019

Sg stocks - Use standard chartered

International Stocks - I use AMdtrade or IG.

Reason: Lowest brokeage fees

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Alex Yeo
Alex Yeo
Level 4. Prodigy
Answered on 04 Dec 2019

Maybank Kim Eng Prefunded Acc, 0.12% or min. 10 dollars. Not the lowest brokerage in the market but I have been using them for the longest time. Inertia to changes since all my holdings are with them already.

Wanting to try out ifast platform though.

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