Cheapest way to buy US stocks?

[Millimeter]

How to invest in US stocks?

I do have a DBS Vickers account, but I'm not sure how I can buy US stocks. Anyone can guide me please, and let me know if this is a cost-efficient way?

 

[wahkao3]

related question
how about SGD=>USD currency conversion? how to get cheap conversion?

 

[Shiny Things]

I do have a DBS Vickers account, but I'm not sure how I can buy US stocks. Anyone can guide me please, and let me know if this is a cost-efficient way?

You should just be able to select which exchange you want to trade on - or search for the appropriate stock. (Try searching for SPY - the S&P 500 index fund - and look for an exchange called NYSE or Arca.)

It's most definitely not a cost-efficient way to do it, though. DBS's FX spreads are on the wide side (and they charge the spread on the way in and the way out); their brokerage fees are extortionately high; and they charge needless custodian fees and dividend fees. Don't ever buy US stocks through Vickers.

related question
how about SGD=>USD currency conversion? how to get cheap conversion?

Depends. Do you want the cash for holidays; do you want to use it to buy something over there; or do you want to use it to trade?

If you want it for holidays, just go to Change Alley. If you want to buy something over in the States, go to your bank and demand a discount on the posted spread. If you want to use it to trade, open up an Interactive Brokers account and take advantage of their tight FX spreads.

 

[Millimeter]

You should just be able to select which exchange you want to trade on - or search for the appropriate stock. (Try searching for SPY - the S&P 500 index fund - and look for an exchange called NYSE or Arca.)

It's most definitely not a cost-efficient way to do it, though. DBS's FX spreads are on the wide side (and they charge the spread on the way in and the way out); their brokerage fees are extortionately high; and they charge needless custodian fees and dividend fees. Don't ever buy US stocks through Vickers.

I see. What is a more cost-efficient way of doing it though?

 

[Shiny Things]

I see. What is a more cost-efficient way of doing it though?

Option 1: Stanchart. Lower brokerage fees, no custodian or dividend fees, but their FX spreads are still somewhat wide.

Option 2: Interactive Brokers. Tight FX spreads, rock-bottom brokerage fees, but a $10-month (optional) charge for market data and a famously unfriendly user interface.

I use IBKR and I love it, but for new investors Stanchart is the best bet.

 

[peterchan75]

For Interactive Broker, the last I heard, you need US$10K to setup an account with them.

 

[Shiny Things]

For Interactive Broker, the last I heard, you need US$10K to setup an account with them.

Yes, that's right - and if you've got less than USD 100k they charge a $10/month fee (offset against your brokerage charges for the month - so if you do $10 a month in brokerage the fee gets rebated). It's not for newbies, and it's not great for the smallest traders, but if you're an experienced trader or you're doing large volumes it's great.

 

[John.D Rockefeller]

Option 1: Stanchart. Lower brokerage fees, no custodian or dividend fees, but their FX spreads are still somewhat wide.

Option 2: Interactive Brokers. Tight FX spreads, rock-bottom brokerage fees, but a $10-month (optional) charge for market data and a famously unfriendly user interface.

I use IBKR and I love it, but for new investors Stanchart is the best bet.

I'm under OCBC Youth Investors Program, should I call my broker or just head to Stan Chart?

 

[nixdrst]

Option 1: Stanchart. Lower brokerage fees, no custodian or dividend fees, but their FX spreads are still somewhat wide.

Option 2: Interactive Brokers. Tight FX spreads, rock-bottom brokerage fees, but a $10-month (optional) charge for market data and a famously unfriendly user interface.

I use IBKR and I love it, but for new investors Stanchart is the best bet.

Hi again ST,

At Interactive Brokers, what is the spread between SGD-USD exchanges compared to spot rate?

 

[Shiny Things]

Hi again ST,

At Interactive Brokers, what is the spread between SGD-USD exchanges compared to spot rate?

IBKR gives you the interbank rate, basically. Their rate right now is 1.2461/1.2462 in $2mio a side - and that's at 8am Pacific when Singapore's not even open. In $10mio it's 61/64.

 

[wahkao3]

[SERIOUS]Cheapest way to convert SGD to USD for investment purpose

[SERIOUS]Cheapest way to convert large amount of SGD to USD for investment purpose

Running out of trade ideas on SGX. Thinking of going NYSE and other US stocks.

What is the cheapest way to convert SGD to USD for investment purpose?

My fren recommended me
Phillip Futures
i went to the website trying to find the spread price but cannot find. Anyone know the spread?


Any cheaper or better?

Please no troll reply. dont come in say I FATA master then go offtopic

 

[Shiny Things]

[SERIOUS]Cheapest way to convert large amount of SGD to USD for investment purpose

Running out of trade ideas on SGX. Thinking of going NYSE and other US stocks.

What is the cheapest way to convert SGD to USD for investment purpose?

Interactive Brokers. You do the conversion yourself, and the spreads are interbank rates - so, one or two pips. You can't do any better than that.

 

[sAVaGEmP5]

Use ur FATA skills on USD/SGD charts

 

[Mancunian2]

Become a money changer yourself and earn the bid ask spread

 

[SpeedingBullet]

Be an FX dealer, show them your FATA skills and you'll be hired

 

[peterchan75]

What is a few ten or hundred bucks in commission when the main objective to setup an account and generate cash. It's not that your friend needs to transfer cash to the trading account frequently. In this case, it's not cash generating account but a money pit.

 

[Mecisteus]

find a job that pays USD income and deposit USD into the account. no conversion loss at all.

 

[tMeepo]

Whats the cheapest way to buy US stocks?

buying US stocks with Banks like Ocbc requires you to pay an amount per share per month, liddat worth meh?

 

[coloumbiaGames]

interactive brokers?

 

[Shiny Things]

Whats the cheapest way to buy US stocks?

buying US stocks with Banks like Ocbc requires you to pay an amount per share per month, liddat worth meh?

No, it is not worth meh. Any broker that charges you a monthly custody fee, or a dividend handling fee, is ripping you off and you should go elsewhere.

The cheapest way to buy US stocks is either Standard Chartered (if you're a low-volume buy-and-hold type) or Interactive Brokers (if you're an active trader).