Anonymous
Assuming that I have 20-30k for investments at the moment, am I right to say that DBS vickers for local securities and IB/Saxo for overseas markets would be the best value?
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Zachary Teo
13 May 2020
Art Director at Ad Agency
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Lim Boon Tat
04 May 2020
Mathematics at Cambridge University
You can use Saxo for trading Singapore shares as well, and i believe there's no custodian fees either.
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Hey Anon! If you are okay with custodian account, SAXO will be good for both Singaproe and overseas markets. If you wish to separate, I would recommend using IB or TD for overseas stocks.
1 reason for IB is that they have spot FX rate, which mean by conversion rate, you don't lose out on it. Their comission is also very low for stock purchase. However, do note that they charged a USD10 per month if monthly commission is below USD10 or account mininum is lower than USD100k.
As for TD, I would say it is suitable for buy and hold. They charge maintainence fee but at a lower cost. However, their per trade cost is around USD10-20 (cannot remember the exact)
Hope this helps