What's the best platform to buy into S&P 500 if I wanna DCA $300/month and hold long term? - Seedly
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Anonymous

Asked on 11 Feb 2020

What's the best platform to buy into S&P 500 if I wanna DCA $300/month and hold long term?

Due to the virus situation, is it a good time to buy into the S&P 500 now? What's the most cost-effective way to do this?

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Andy Sim
Andy Sim
Level 7. Grand Master
Answered on 24 Feb 2020

You can try Saxo Markets. Min fee only $10 and trading fee 0.08%, one of the lowest I've seen. But the shares are held in a custodian account i.e. Saxo owns the stock instead of you. You may not be able to attend AGMs or have voting rights.

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Davin
Davin
Level 7. Grand Master
Answered on 24 Feb 2020

FSMOne RSP has the cheapest cost for yr scenario. $1.07 per transaction.

Since u r doing DCA, u should not b too worry about timing

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Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered on 12 Feb 2020

One year ago, due to the us-china trade war, is it a good time to buy into the S&P 500 now?

one month ago, due to the us-iran air strike, is it a good time to buy into the S&P 500 now?

As of now, despite the initial virus outbreak, S&P 500 still printing record highs. If your intent is DCA for long-term based on the fundamental belief that the USA economoy always find a way to rebound from even the worst recession, then dont bother timing your entry.

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Royalchem
Royalchem
Level 5. Genius
Answered on 12 Feb 2020

Suggest to look at other fund rather than s&p. S&P fund is too pricey and wont get much even if dca.

Try tqqq or qqq if you want to invest in similar stuff to s&p index

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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jul)

Level 9. God of Wisdom
Answered on 11 Feb 2020

Maybe with 1200 SGD/quarterly the typical SG retail brokers mostly would be okay, otherwise the U.S. branches of TD Ameritrade or Schwab would be super given their current delightful 0.00 USD commission fees

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Bung Bang
Bung Bang

12 Feb 2020

I believe the TDAM and Schwab only has zero commisions for US Citizen, not for Singaporean. I remember TDAM here charges US$10.95 per trade (buy or sell).