Dbs online trading charges
Fortunately opening a trading account to invest in stocks and bonds in Singapore is rather easy. I for one prefer the trading account to be in an established retail bank, so that I can consolidate my current account and investment accounts under one roof and have an easy overview of all my finances.
I have experience with two trading platforms: DBS Vickers Securities www. Both can be integrated easily with your existing accounts, but differ quite a lot in terms of features and costs. As there is no minimum commission I save quite a lot of money, since I mostly do smaller trades. As this example shows the minimum commission is quite disadvantageous for smaller investors. In all other exchanges Standard Chartered is cheaper and has no minimum commission.
I would recommend open a free esaver account online first. From there you can apply for online trading online via the online banking platform. It is rather easy and trouble-free. Lazy as I am I am not a fan of visiting bank branches and queuing there. Standard Chartered lets you do most things online or via the phone which is most convenient.
In over four years I have only visited the bank branch once. Do you know if Standard-chartered allow non-residents to apply? Hi Leigh, sorry for getting back to you so late! To open a trading account at Standard Chartered you normally need to be a customer of the bank with an existing account.
I chose the free and minimal e-saver account. Unfortunately you can only open this account as a resident foreigner. Conversely, I have encountered and read about several market participants getting burnt using contra. It is hard enough to be a market timer. To get your timing right to an accuracy of 3 days is even harder. It is possible to make good profits in one or two occasions using contra. Who doesn't have luck on his side sometimes? But to be profitable consistently by playing contra?
I think you will have better chance of getting rich by working hard at your day job. This means that you are not the registered holder of the shares. Which means that you cannot attend AGM and receive annual reports. Also, note that some bank may not charge you now for holding shares in thier custodian account but they may impose a charge if they wish to in the future. The Averaging Dividend Investor c www. Every effort is made to ensure the content integrity.
Information used on this site is at your own risk. Here is the link: Hi I am a beginner without any academic or financial related qualifications as well as investment experience.
How would you suggest a beginner like me to start investing in low-cost ETFs and bonds? Is DBS Vickers a better platform to kickstart and apply? How about you start with a monthly savings plan that invests in those bonds or low-cost ETFs? You can find out more here: Yes you can buy multiple bond ETFs — you can check my portfolio for one example.
Be careful of possible withholding taxes though. I would like to know your opinion on what brokerage account you think is best for a long term buy and keep investor. Transaction fees are not massively important I guess. What are your thoughts? For me this has worked out quite well. I tried OCBC but found them way too expensive with too many random fees, especially for foreign stocks.