Asked on 04 Jul 2020
I've been reading up on which broker (i.e. Saxo, IB, SCB) to go for as i wish to start investing in LSE. A lot has recommended IB but there's an inactivity fee (pretty high imo) for AUM less than 100k.
I'm intending to buy and hold for a long period of time (possibly at least 10 years or more) and invest an amount of around SGD3k once every 3 months. Doubt that I'll be able to hit 100k so soon.
Not sure if it's still wise to go with IB or other brokerage account? Any advice pls?
Maybe Saxo or Standard Chartered are appropriate for You.
When You look up on the broker pages the complete fee schedules
You could really calculate on Your own which one is the best for You.
The mainstream ones should all be safe.
Expect however upcoming dynamics: I generally feel that all the fees and charges are going down ever more with competition and all those fintechs.
Also for an ultra-longterm investor, as You should be, the fees of all the general brokers are already so low, that even the standard ones like POEMS ot FSMOne are completely O.K. for a retail investor. More important is, whether they give You possibility to invest in the U.S. + China + Europe.
good luck !
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