What is the cheapest brokerage if I want to invest into QQQ etf only? $15k lump-sum, followed by $250 DCA monthly. I'm 21yo, graduating uni next year so planning to buy QQQ for income growth. Any advice? - Seedly
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Anonymous

Asked on 13 Jul 2020

What is the cheapest brokerage if I want to invest into QQQ etf only? $15k lump-sum, followed by $250 DCA monthly. I'm 21yo, graduating uni next year so planning to buy QQQ for income growth. Any advice?

I know about certain brokerages fees are trade commission based vs AUM. Not sure in my case of lump-sum followed by dca which brokerage is the best? I plan to hold for 5years or so only, not for 15years. Total invested amt will be arnd $30k. Currently only choosing this one etf because I think my portfolio is diversified enough, I have 26% risk in Stashaway and Syfe 100%reit+ and some sg bank stocks. (have a separate $25k cash in bank and insurances settled. no tuition loan.)

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Noel Koh
Noel Koh
Level 3. Wonderkid
Answered 2d ago

Tiger broker or TD Ameritrade has the lowest commissions for stock shares which you can consider :)

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Hi Anon,

For US markets, TD Ameritrade will be the cheapest broker.

Unfortunately, the account opening takes quite a while.

While waiting for your account to open, you could use IBKR or Tiger Brokers.

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Mr anonymous
Level 3. Wonderkid
Answered 3w ago

If planning to hold long term, get eqqu, Ireland domiciled. Because dividends iwll only increase in the long term. And you do not want to be affected by taxes

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William Ng
William Ng
Level 4. Prodigy
Answered on 14 Jul 2020

If going for tech etf, OGIG is in my watchlist.

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Frankie Rappaport
Frankie Rappaport

3w ago

EQQQ also
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H
HY
Level 4. Prodigy
Updated on 14 Jul 2020

For the choice of ETF, I would suggest you may also want to consider XLK and VGT ETF as well assuming you are interested in the NASDAQ technology field as your growth component. The two ETFs I suggested have lower expense ratio and similar holdings like QQQ with slightly different focus, but mainly all in companies in the technology field.

As for investing strategy, instead of doing a monthly DCA, you may also consider doing a quarter DCA or half-yearly DCA to save up your commission fees.

Brokerage wise, I think Interactive Brokers or Tiger Brokers are the relatively cheaper brokerages with access to US market. If you are interested, I can share with you my referral code for Tiger Brokers. As for Interactive Brokers, you may search for some other reviews by the other users in Seedly.​​​

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Maisul
Maisul, Youtuber at Google (Channel : Say Do Invest)
Level 6. Master
Answered on 14 Jul 2020

Cheapest brokerage - In terms of fees Standard Chart / Saxo. But depends if you want your stocks to be owned in CDP account or Custodian.

QQQ etf tracks top technology company and it tracks the Nasdaq 100 index. In other words it tracks top 100 nasdaq companies. Mainly tech stocks. (Disclaimer, we might be in a tech bubble now)

Best approach is to DCA and not invest one time lump sum 15K (trust me, you might regret it) especially during these times where market is super overvalued in my opinion.

Above is just my opinion. Anyways do consider subscribing to my youtube channel : Say Do Invest

One of the episodes i talk about monthly investment plan explaining DCA - https://youtu.be/t4Npy3BLm2k

Link to my channel - https://www.youtube.com/channel/UC1zgf-GsD0IG2CqmArWBFyQ ​​​

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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered on 13 Jul 2020

Better go with

MSCI ACWI ETF

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Question Poster

13 Jul 2020

May i know why do u prefer to go with this? is it due to world diversification? i'm looking on moderate period (5y) income growth, am not sure if msci acwi can provide that income growth like qqq did, at least for this year-to-date i'm saying.
Frankie Rappaport
Frankie Rappaport

2d ago

Yes, diversification, risk reduction, we all tend to go for the gold instead for silver, but sometimes it is not gold in hindsight https://m.youtube.com/watch?v=7VKp58eHWdU
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