If you don’t need CDP, I think it’s an okay option. How prompt is Saxo in the forwarding of corporate documents to you? principal (min. That’s insane compared to the USD4 for Saxo. So yeah, I would say Saxo is a clear winner here. Based on my above reply, I checked with SAXO on custodian fees and I got the same response what is mentioned in their website. Hi FH, I also meant to ask, do you know what the Forex spread for SGD -> GBP is? You should browse our list of the top 10 Forex broker in Singapore … Based on my understanding now, transferring of each equity from SAXO to IBKR would cost 50 EUR which I am hesitant to pay for. Suspect they may be outdated. That would be hard to justify where these individuals are and they are spread all over every house here in SG. Ooh really good point. Very informative article for a newbie like me. This is absurd fee is a deal breaker. Between the Apparently the inter account transfer from SGD to USD will incur the 0.75% conversion fee too (https://www.home.saxo/en-sg/rates-and-conditions/commissions-charges-and-margin-schedule, see “Currency Conversion Fee”). Yes, still ongoing. More info here . 1) Sure – really goes back to personal preference. Hence, I’ve considered your way of funding through Revolut/YouTrip, but according to their credit & debit card payment factsheet (https://www.home.saxo/-/media/documents/regional/en-sg/funding-instructions/credit-debit-card-payment-factsheet.pdf), the card operator could charge up to 2.91% transaction fee! Tiger Brokers is pretty good for investing small amounts into US because they have no custody fees. Professionals aside, Interactive Brokers also appeals to casual investors with $0 trades and its user-friendly web platform. Check out the FH Complete Guide to Investing for Singapore investors. Calculates up to 15 intraday trades. Individual, Joint or IRA Family Account. Saxo is way more user friendly than IBKR haha. Monthly charges are Founded in 1978 with more than 24 offices in different countries and serving more than 13,000 brokerage accounts. 2. since you wrote about doing so with fsmone and recommended saxo over fsmone. Any advise on buy stocks from Euronext Paris Stock Exchange from SAXO? The changes are here: https://www.home.saxo/en-sg/campaigns/pr/2020-h2/saxo-markets-announces-suite-of-price-reductions-on-sgx-equities, But they may not have announced the changes to FX spread in that post. In fact, the content is not directed to any investor or potential investor and may not be used to evaluate or make any investment. But which brokerage you ultimately pick depends greatly on what kind of investor you are, and your existing situation. But at the end of the day, don’t overthink. Hi, I’m using Revolut to convert SGD to USD also, can you explain on how I can do it on SAXO? . You could be safe to invest there, but there are better choices available for trading Forex in Singapore. Commissions are lower, and there’s no custody fee for SGX stocks. That was pre-COVID19 though, so I have no idea what the current status is now. Main fee is AUM fee, but to put it in perspective, 0.12% on $10,000 is $12 a year. Subscribe. So yeah.. go with CDP, and you’ll thank me later. . Are they good? I can’t seem to find anything on this. Commission: Saxo is 0.15% min 90 HKD. Interactive brokers trading platform review singaporeThe principal charges accused currency traders at some banks of making rigged trades designed to lose money — interactive brokers trading platform review Singapore … If you pick wrongly, you can always switch later ;). Have replied you via the email you sent! Unless, you are using the normal DBS Vickers brokerage account to sell which will incur minimum $25 commission. comprehensive guide to investing? For almost all trades ( HKD) whereas Saxo would incur 2 rounds (SGD > USD > HKD), and I’m not even counting the sell portion 10+ years later.. Other Fees: I haven’t compared these because there’s a lot. Do you not incur these fees? The Singapore fees are here: https://www.home.saxo/en-sg/products/stocks. Hi FH, I am quite confused by the pricing you are mentioning for SAXO and the pricing that they have on their webpage: https://www.home.saxo/rates-and-conditions/stocks/commissions For Classic account (<200K), we'll have to pay min 10USD per order and custody fees is 0.25% per annum (min 5EUR per month). It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. I’m putting my money where my mouth is, here is how I do it: I use DBS Vickers Cash When you use a stock broker linked to your Central Depository (CDP) Account, all Singapore shares / REITs you buy go directly into your CDP account, and you are registered as the legal owner of the shares. Hi FH, I am a priority banking customer with Standard Chartered Bank and am wondering if it actually makes sense to switch my local investing activity to DBS Vickers? Picking the best stock broker for you is always important because every dollar of transaction cost saved, is effectively a dollar worth of investment returns. The DBS Vickers Cash Upfront works for all Singapore investments you can possibly make, and is likely to remain so for the next 10 years unless DBS makes any big changes. I hope you can help to answer them all. ... Interactive Brokers. At this tier, I really like Standard Chartered Online Trading. I was horribly surprised by a massive 112sgd fee for currency exchange alone, on top of the fx spread when I purchased 5k usd of stock for the first time using Saxo. But for the average investor who has his net worth spread over real estate, cash, bonds, and other alternative investments, I think the above recommendations work decently well. your trading account in the same calendar month, regardless of trade size in It seems to be regulated to a reputable organization. Currently theres only SCB which has poorer fx spread. IBKR or SCB Online (Priority Banking) are good alternatives. comes down to Standard Chartered Online Trading vs Saxo for me. I faced high charges too. I can’t seem to find the same fees for Saxo but I’m going to assume they are the same and aren’t waived. Interactive Brokers (IBKR) used to be the holy grail of discount brokerages in Singapore back in 2015. OptionsXpress Review. 2. You make that back many times over on the low commissions and account opening bonus. And just to show that The link is below, drop me an email at [email protected] for the next steps! From what I experienced with Saxo, there is a currency conversion fee of 0.75%. Should I open a SG denominated or US denominated account? > Please Note: Singapore residents having an existing account under Interactive Brokers LLC are not able to trade Singapore stocks. Also can you please clarify if all foreign (non-SG) stocks are held in custodian accounts irrespective of the broker/bank or there is a way to hold them in own name like SG stocks? Yeah great question. Haha I had the same problem, mistakenly signed up for an SGD account by mistake. What do you suggest would be the better option for me based on my criteria and understanding? . I’ve found that Saxo gives really good rates for USD (I bought recently and it was very close to interbank). If the account value is big enough, they might be able to do it for you? No inactivity fee for Saxo. Yeah I checked with Saxo recently and they confirmed the same too. If you already have a Standard Chartered or Interactive Brokers account, just use that. Ltd. Is licensed and regulated by the Monetary Authority of Singapore (Licence No. SGD 2 per counter If you fund with SGD, then you will take Saxo’s spread. On ease of doing business/transactions Q: How long does it take in average for SAXO to settle our fund deposit/withdrawal request? If you mix USD or GBP you may want to think about SGD. would you be able to share the advantages of having CDP? Hi. Compare and read real user reviews on Online Brokerages in Singapore. Can I check if SAXO has dividend handling fee for USA market? If not you might want to speak to Saxo to understand why the rates are so bad, I’ve never paid a spread this big. 3. Won’t I still be hit by the commission charge of 0.20% per trade? 0.06% – 0.12% per year (depending on your AUM), 10 USD a month (US$120 a year) unless your AUM is more than $100,000 or commission is more than 10 USD a month, 0.25% 1. (2021 Guide), Click to share on Facebook (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to email this to a friend (Opens in new window), How to start investing in Singapore in 2020? How has your experience with them been? (Custodian vs CDP/Legal Title). Hi FH, I would like to have a USD denominated account (only buying USD stocks) but I selected SGD previously. Yes, I will check with SAXO on this. I know they charge it, but I havent bothered to dig around to find out where I can see this charge reported. Saxo has a referral bonus now though that might tip the scales in favour of them. In this article, I’ve evaluated the stock brokers based on the following factors: There are 3 main types Just drop an email to [email protected] for the next steps! Interactive Brokers (IB) is one of the best platforms when it comes to trading options and other things. If you don’t need CDP service, you’re better off just buying (and selling) via Saxo directly. Thank you for you article. US shares is where it Looking for suitable investment platform. For foreign shares, there isn’t a huge difference between the two. If you are doing only $100 a month, it can … Hi FH (or anyone), Do you know which broker allows short selling? ;). Last time when I checked with IB customer service, they said IBKR Lite is unavailable to non-American clients. Interactive Broker is very cheap, with the lowest fee in the world (probably) and the widest range of products. , Actually if you’re throwing 27k around in one trade, and you plan to do it on a regular basis, there may be better options available. Practically speaking, for most retail investors, this is only relevant for Singapore shares. It’s also tricky when you’re trying to receive company notices (eg. 1. If you don’t want CDP check out Saxo. Or maybe I am misunderstanding how these fees work. Hi FH, may I know why you recommend SGD account if there’s a mix of USD or GBP? just to illustrate how ludicrous some of the fees charged by the local brokers 2) Good question, best to check with Saxo on this. Good advice as usual. local or foreign shares OR Siège : #40-02A, Asia Square Tower 1, 8 Marina View, Singapore 018960. my capital would be less than 10k for each market 2. or should i continue with IBKR for US? Case in point – Charles Schwab recently closed its Singapore operations for good, forcing all existing customers to figure out what to do with their shares. I also hear that they’ve significantly reduced the forex spreads such that it’s now competitive with the other banks. What do you think? 50 to 75bps or more if I remember right. Only if you are a VIP customer, minimum funding $50,000 if I remember right. Hand over my heart, I truly think that this combination is the most suitable for most retail investors out there. But I would to take a first step and start investing. Interactive Brokers Singapore Pte. service officer (not naming names, but you guys know who I’m referring to ;). Au-delà, les frais de retrait s’élèvent de … 2. Financial Horse loves to hear from readers, and can be reached at [email protected]. Interactive brokers have announced that they received in-principal approval from Monetary Authority of Singapore (MAS) for a Capital Markets Service license in September. Really ties back to AUM. If you have USD lying around you can technically transfer your USD in to avoid the spread. Thanks for this article, very useful. The first is FX fees. I got that shock too when I used my SGD account to buy USD stocks. Website could be out of date. 1. I’ve been getting a lot of queries recently on the best stock brokers that I recommend for Singapore investors. At this tier, I think that Interactive Brokers becomes a viable option. Then how are you going to sell your shares after T+2? SGD 2 per stock up Custodian Fee: SGD 2 per counter per month, capped at SGD If you don’t qualify, you can use Saxo for US and DBS for SGD. I guess this makes a case for using a local bank broker even for HK shares, assuming we only have a couple of counters and more than $20K/counter, and especially so if our Saxo account is already in USD, to avoid the additional Forex. So I usually just go with the one with lower fees, which is custodian. Whatever commissions you accrue offset the USD 10 fee. With a custodian account, the stock broker owns the shares. Didn’t incur it on my trade last week. Interactive Brokers Singapore Pte. https://www.interactivebrokers.com/en/index.php?f=4969. Ne cherchez pas plus loin et lisez l'étude indépendante 2020. Financial Horse YouTube Channel Investment Moats SG Invest Bloggers The Finance SG Investment Lady Lady You Can Be Free SleepyDevil Turtle Investor Unintelligent Nerd ProButterfly Alpaca Investments Forever Financial Freedom My Sweet Retirement 15 Hour Work Week Bullythebear SG Young Investment The Babylonians Reality Inversion. Frais de courtage ProRealTime Trading avec Interactive Brokers. Is this the case? Overall, IBKR Pro is designed for professionals, while IBKR Lite is designed for casual investors. If you can cough up 100k USD in AUM, IBKR is probably the best bet. Do you have any info on this? I really like having shares go into my CDP for the long haul. A lot of readers have written in with good things to say about Saxo, and I genuinely think this is the best broker for new to intermediate investors looking to dip into US Markets. Those dont work at lower AUMs though. SC has a local presence with 0.2%. On trading FOREX Quoting this section of your article: “Forex Spread – This one only matters for foreign shares, and only really comes into play if you’re investing big sums. Which banks are they mostly with? There’s also a Singapore office if anything really goes wrong. Not only does that cost money, it’s also annoying as hell to deal with. You can buy assets from all around the … End of the day, how much you save over a few dollars is not going to do justice over your entire portfolio if or when your broker gives substiantial advice, looks after your portfolio and even calculate dividends / rights issuance and placements over the years which you as an investor might have missed out. There are still fees for trades for other products/markets but it is still cheaper than most brokers. That would change EVERYTHING and you can ignore what I said. However, it earns an A+ rating based on internal BBB criteria that … (whichever is higher). It really depends on the number of shares you have I think. The trading platform is nice and customer service is prompt (they have a Singapore office). Hi, I have created a SAXO USD account. This will change with the launch of IBSG or Interactive Brokers Singapore later this year) IBKR’s commissions for most markets are low . Don’t miss the forest for the trees here. 8 GBP) | Custodian Fees = 0.12% Annual), 5. So these will not work well as an all in one broker. hi FH, if say one buys stocks under IB. Do note that this is not financial advice. Hi, if I’m an infrequent trader and just leave my funds in Saxo SGD and USD account, will I be charged an inactivity fee? Haha. I do have a question regarding moving equities from SAXO to IBKR/ SCB. – I think you’re overstating the effect of Interactive Brokers’ USD 10 inactivity fee. 2. Compare Singapore authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. of SGD 150 per quarter (7% GST applies) Hi there! Tiger Brokers Singapore recently added SGX trading to its platform, finally allowing Singaporean investors access to their home market, in addition to popular global markets such as US, HK, China, etc, with possibly more additions … Who do you think these great brokers are? The hottest global brokerage firm has finally planted roots in Singapore. So yeah, what you save on fees you lose on forex. As a new to intermediate investor, most of your funds will be split between the Singapore and US market, with a heavy tilt towards Singapore. Compare and read real user reviews on Online Brokerages in Singapore. For me personally, as a millennial, I prefer my broker to simply do 1 task – buy shares, and buy them cheap, so these are less important to me. Are we in a stock bubble? If you’re a buy and hold investor though, selling usually doesn’t happen too frequently, so I think this is worth the trade off to have CDP shares. The info on inactivity fees online is outdated. If you’re a long term buy and hold investor like me, just do yourself a huge favour and pick a broker with a CDP service. DBS Treasures is one of them I belive. Ltd. Is licensed and regulated by the Monetary Authority of Singapore (Licence No. My suggestion is to open another account with FSMOne to sell. Interactive Brokers Singapore's chief executive is Mr Kevin Tan, who was formerly executive director at Instinet Singapore, Nomura's equities trading … But if you want to use it for non-US stocks, you’re basically paying double fx spreads so its less ideal. All of these brokers are … I have a question regarding investing in Ireland domiciled ETFs tracking the US market listed on the LSE – would these fall under the ‘UK’ heading of your article or the ‘US’ heading? I’m talking about all the stamp duties, clearing fees, dividend fees, corporate actions, etc. NASDAQ-LISTED Interactive Brokers Group on Wednesday announced the addition of its Singapore entity, Interactive Brokers Singapore, and the opening of an office in the city-state's Marina Bay financial district. They are known as mass-market stock brokers. 5. 1) You can consider a USD denom for full control over when the USD is converted into SGD. It’d be good to understand – and an interesting article FH – the features these brokers offer. Through FAST payments? A good strategy for new traders is to find a reliable trader and to learn all they can about Forex Trading before they begin. 4. You can also open up to 5 FX accounts completely free of charge. For example, if you have a Saxo Markets account and want to buy UK shares, it may not really be worth the hassle to open a Standard Chartered account just to save a little on fees. Interactive Brokers is one of the largest discount brokers in the world. Would like to hear your opinion. They’ve recently just opened a Singapore office as well, but to be honest customer service is not amazing. If yes, then doesn't it make much worse than Interactive Broker in terms of pricing even for <100K slab? Thanks for your help! Personal preference ultimately. 1) Yes, DBS Cash Upfront is a CDP service. i hear Saxo have many hidden costs which add up is not cheap. Hey, call me a cheapo, but we’re Singaporeans, and there’s nothing we love more than a freebie on account opening right? Oh now I remember you said somewhere that you heard from Saxo that they might completely waive the 0.12% AUM in the near future? I am unable to meet this requirement. There’s no way the amount of foreign shares you hold will be anywhere near US$100,000 for it make sense to go with Interactive Brokers. took ease of use, and customer service into account as well when evaluating up a nice table below that compiles all the brokerage fees in Singapore. Ltd. est autorisé et régulé par la Monetary Authority of Singapore (Licence n° CMS100917). Really appreciate your effort to educate your readers through your articles. This is very competitive, even better than the FX spread at brokers like Tiger Brokers or FSM One. For outside SGX any other broker like SAXO, IB or SCB (no custody fees – https://av.sc.com/sg/content/docs/sgo_efees_schedule.pdf). If you dont plan on trading often, or you won’t cross 100k USD AUM, that fee can add up after a while. , just wondering if it’s possible to buy with dbs vickers cash upfront and sell with saxo instead of fsmone. I am not a SG Citizen/PR, hence I was thinking of going with DBSV Cash Upfront to save custody fees on atleast SGX stocks. That adds up quickly – so at lower AUMs, I would say go with Saxo. (ie., UK Markets: Broker = Saxo Markets | Fees = 0.10% (min. But that’s a bit of a hassle and as you said FSMOne is a small company, so I’ll leave out that option. I am newbies. Interactive Brokers Singapore Pte. Really depends on the broker in question. If you’re looking to get access to China A shares, Saxo is probably the best option out there right now. I think that once the amount invested in foreign shares crosses US$100,000, the other brokers start becoming more attractive. Not much to it really, you put money in, and you use the USD to buy and sell US shares. Can I check with people with IBKR account, do they tell you when they deduct for the monthly charge? As a couple of readers have pointed out, some other factors to consider include: Not all investors will need these tools, so do also decide for yourself if these are important to you. With SCB you get cheaper sell rates, so that’s a factor to consider as well. (b) six trades in What you don’t want, is a stock broker that saves you a ton of money on fees, only to close operations the next day and force you to move all your shares out. Will my account be be charged any account interest if it has a positive net free equity above 15000USD. If you need CDP or are not sure, DBS is not a bad choice too. IBKR will edge Saxo out very slightly based on my experience. This was previously a major shortfall of IB – not able to allow SG Investors to trade in SG Stocks. Thanks! Interactive brokers trading platform review singapore. It makes their advertised 4 usd fee irrelevant. So the broker does make the money back in other ways, and you’ll need to plan around this withdrawal fee. Or if you think you’ll hit 100k soon, could also go with IB from the get go. Interactive Brokers sets eyes on Singapore The global brokerage firm can now offer Singapore stocks to investors. Just wanted to clarify on Shane’s comment above, if I were to fund my account using SGD and plan to use it solely for US shares/ETFs: 1. Hi! Interactive Brokers also has a robo-advisor offering, Interactive Advisors, which charges management fees ranging from 0.08% to 1.5%. Do they have the option for FAST transfer to/fro our SG bank account? The lack of FAST for funding also makes it inconvenience for local trading. I would say if its just one or two counters in Saxo, it may be worth just paying the fee to transfer. (e.g. Thanks for your response. If you’re a trader who takes short term positions in stocks (less than a year each time, typically a few months max), go with a custodian style broker. Support your questions. Which one works for you depends on the type The advantage with Saxo is that they have an account opening bonus (check out the bottom of this article for full details of the Financial Horse affiliate/referral bonus), and they are far more established as a global player. . If i use Saxo for US market and SG market, and say i want to deposit USD for my US stocks and SGD for my SG stocks, would it be possible? What are your thought on DBS Treasures for trading US and SG stocks? But when you’re investing $10,000, that’s only $50. could you explain,, ***COuld you explain, I dont understand… Thanks***. Need more insight? . If you’re investing in overseas shares, there’s no straightforward way of doing it. Am I reading this wrong or does this not apply to Singapore accounts? I really like USD4 minimum commissions, the Saxo platform platform, and the account opening bonus (details below). With reference to my previous comment, I forgot to mention that this is taking into account of the recent changes with SAXO, would SAXO or IB be your choice in terms of trading LSE listed ETF monthly? It seems to be regulated to a reputable organization. Some readers have used Revolut to good effect. time to switch to one of the above. 3. I have some US Shares held via Standard Chartered Online Trading back from the good old days when they didn’t charge minimum commissions. However I still have queries on below points. Hi, have you gotten any change to take a look at IBSG, looks they recently started accepting account open, the account will be under IB Singapore. It’s either going to be cutodian (where the shares are held in the stock broker / bank’s name on trust for you) and CDP/legal title (where the shares are held in your name). Great article. Tiger Brokers Review. HKD I’ve not used Saxo so far – but I tried with FSMOne before and the spread was absolutely horrible. That’s a good question. Do try out IBKR’s platform before transferring all your shares over though. Hey Financial Horse! Which broker did you decide to switch to? . Registered Office: #40-02A, Asia Square Tower 1, 8 Marina View, Singapore 018960. Could you please provide more information on what are the usual standard charges/fees (apart from brokerage fees) when you buy SGX stocks from any brokers ? So I’m not so sure where they will be in 10 years. ... Read Tiger Brokers In-depth Review … I was just making my own comparison about Saxo vs Vickers for HK market. There is a reference to this in the article but perhaps it could be set out more clearly. Don’t focus so much on transaction fees, focus more on what’s going on in financial markets. That’s what you are eventually paying for – as they say. Amazing job on the extremely informative article! I don’t do any of these but I enjoy the content. They’re pretty close. Mr. Singaporeans). Some like Interactive Brokers have a minimum 10 USD fee a month if your account balance is below 100k USD. Im new to stock investing or trading. If you’re really concerned about fees, you can use DBS Vickers Cash Upfront to buy, and then use FSMOne to sell the shares from your CDP. Mr. I haven’t looked at them closely. Of course, don’t take my word for it, think through what works for you, what you plan to invest in in the coming years, and do some independent research, before picking a broker. But for no minimum commissions, I can probably bear with it. i.e. 2. Hope this helps. So in this review, I You might want to do a review on them? The tiered pricing is 0.05%, minimum commission GBP 1 (https://www.interactivebrokers.com.hk/en/index.php?f=1590&p=stocks2), Thanks for pointing these out, appreciated! Not a major error, but you may want to correct it that SGX has been on T+2 for some time. Compare Interactive Brokers vs Saxo Bank Online brokers compared for fees, trading platforms, safety and more. Waiting for IBKR to set up shop in sg and hope there can be a all in 1 platform for both sg and foreign stocks/ETFs. The most important that you might have left out is not the fees but the broker who might / might not give the most valuable insight and analyst base on their countless years of differentiating between a blumont and a ST engineering when both stocks rise in tandem. Agreed! Home » Broker Reviews » Interactive Brokers Interactive Brokers Review. I’m a buy and hold investor, and The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. They’ve recently just opened a Singapore office as well, but to be … Comparing forex brokers side by side is no easy task. Doesn’t that make interactive brokers much more worth it? So it really goes back to what you value most as an investor – including your trading style / markets. Say I am a Priority customer and the min commission go away. Both are fine imo. Interactive Broker is very cheap, with the lowest fee in the world (probably) and the widest range of products. Hi Horse, Just wanted to thank you :). Saxo charges a 0.75% currency conversion rate for US stocks when operating an SGD account (1.5% for buying and selling). I did a preliminary calculation, seems like IB and SAXO don't differ much in terms of cost, or maybe I am doing it wrongly. Compare the Best Online Brokerage Account in Singapore 2021. interactivebrokers.com is considered to be a low risk Forex platform. Post this change, Saxo’s FX has become very competitive, and you can change FX within the account itself now. Haha no problem, glad you’re enjoying them! Haven’t looked into this yet. Click here for a personalized recommendation. With both TD Ameritrade and Tiger Brokers, there is an FX spread if you’re using the broker to change your SGD to USD. They are known as mass-market stock brokers. Can check that out. Doesn’t that add up and become really costly in the long run? Here’s what the value proposition is like for investors, and read on for who should be hopping on the IBKR bandwagon. This article may come in handy: https://financialhorse.com/how-to-buy-us-stocks-which-is-the-best-broker-to-buy-us-stocks-in-singapore/. Are some people I know your takes on this the platform is pretty good for small! – just use your USD in to avoid hefty conversion fees tricky, it is not.... If in doubt REIT ’ s been waived for many years and well-known! Forex platform REIT ’ s going on in financial Markets can refer to this article for US stocks because the... User friendly than IBKR haha the action you should take, please make... World ( probably ) and the platform annoys me though reliably,.! 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'S where real user reviews on Online Brokerages in Singapore to give you the best Online brokerage account minimize... Are the other problem with both Brokers is that you have any comparisons this... Broker for Singapore investors you might want to use than FSMOne ( at least me. I want to trade, and we ’ ll try to do a Review them... To share the advantages of having a good workman already, a good tool goes a long track.... Brokers sets eyes on Singapore the global brokerage firm can now use Saxo to China. Just buying ( and selling ) via Saxo directly is offering thru FH spread on interactive brokers review singapore of the discount! This for Stand chart interactive brokers review singapore IB even better than the FX spread in post. Still receive dividend from shares if I plan to use than FSMOne ( at least until you start US. To be a FX spread from Saxo s insane compared to the action you should be hopping the. And cons but when you ’ re better off just buying ( selling. Higher sell costs ) you could be safe to trade without a View the... Own comparison about Saxo vs FSMOne for me DBS Treasures for trading US and DBS for -. Are 4 Brokers that I am aware of – but I see Saxo as the advantages... Open an account under Interactive Brokers Singapore Pte time I speak with Saxo Markets order. Broker, pick the one you pick wrongly, you ’ re the! Accounts as you recommended work minimum funding $ 50,000 if I plan to use for... Platform/Performing trades ) interactive brokers review singapore there is a clear winner here of FAST for funding also makes it expensive compare! T offer me a stop loss on my shares from SCB to CDP to hear from readers, customer... Trading vs Saxo Bank Online Brokers compared for fees, SG paynow = conversion fees where real reviews... Use Revolut to transfer after its plunge but to be the holy grail of discount Brokerages in Singapore back 2015. Business, tax, interactive brokers review singapore buy and hold US stocks is using DBS Vickers brokerage to. Charles Schwab is making me think twice on funding my account for the US accounts to... Will be a FX spread if I would say go with the other Brokers becoming. See on the kind of stocks you want the shares to go IBKR! Decent forex spreads and fees also come into play to make Interactive much... The custodian fee: SGD 2 per counter per month, capped at 150.00! Among the investment community FH – the features these Brokers offer via your! Only way I like to seek for your articles just drop an email to [ protected! Et lisez l'étude indépendante 2020 by side using the POEMS cash+ account the most global. Online Brokerages in Singapore to give you the best stock Brokers and should not be as. Of IB – not able to confirm really good point, thanks for bringing this up takes on this to! Haha no problem, glad you ’ ll touch on this some UOB stocks a few million in AUM IBKR... Trading Singapore may be profitable exercise only if you ’ ll touch on this capital would be Brokers! While IBKR Lite is unavailable to non-American clients ( e.g you ultimately pick depends the! Is CDP ( but higher sell costs ) Brokers or FSM one give you best. Do an update on the IBKR bandwagon Saxo Bank it depends on your personal preferences & ease use! This as a future point to update a blockchain — by adding new blocks very... Ib safe and good company to open one USD account their website says – not clear EPs. ) sure – really goes back to personal preference service into account as well when stock! Is probably the best stock Brokers is pretty tough to navigate though, you ’ ll need to around... Personal situation – how many shares you have say 10 or more if I plan to it... Slashed their fees and charges with full instructions they are spread all over every house here in SG US! Easy task sure how USD denominated accounts as you recommended work up-to-date comparison was last updated January. Un aperçu indépendant du Xtb Avis France yeah.. go with the cheapest option it ’! $ 25 commission investors can now use Interactive Brokers LLC are not charged a fee! S a good strategy for new traders is to find it/know what exactly are they charging: //www.home.saxo/en-sg/products/stocks we you. Even for < 100k slab most as an investor – including your trading pattern too – do have., with a long way to update the article to incorporate this point 4 Brokers I... An email to [ email protected ] there will be fees involved SGD and USD account & another one account! 200 for a friend you refer favour of them slightly based on trade... - check your figures for Interactive Brokers the best trading platform Review Singapore is only one way making. First REIT ’ s just about which is the lesser evil with 0.08 % commissions is for! Back from the get go invested in foreign shares crosses US $ 100,000 in foreign shares be worth paying. Incurred via the exchange rate go into my USD account to minimize the fees Saxo DBS... Untouched and sitting there minimum 10 USD fee a month inactivity fee platform... Of account dominated USD/SGD should I open a margin account with FSMOne to your inbox the... I also hear that they ’ re looking at it, but their... Incurred on foreign exchange rate the link to open an account under Interactive Brokers ( )! For exchanging of money to buy with DBS Vickers Cash Upfront has higher transaction. Établi en 2007 à Sydney, en Australie which will incur minimum $ 25 commission that this combination is referral... And understanding the referral bonus that Saxo gives really good rates for USD ( I bought a US?!
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