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Old 21-11-2020, 11:47 PM   #31
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Dbsv cash up front $10++ too
For dbs sg shares, are shares kept w Cdp or dbs?
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Old 21-11-2020, 11:51 PM   #32
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For dbs sg shares, are shares kept w Cdp or dbs?
dbs vickers will be with CDP
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Old 22-11-2020, 01:21 AM   #33
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For dbs sg shares, are shares kept w Cdp or dbs?
If dbsv cash up front is cdp. $10++
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Old 22-11-2020, 03:18 AM   #34
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If dbsv cash up front is cdp. $10++
Cash is already CDP liao
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Old 22-11-2020, 06:58 AM   #35
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Currently using SCB. Trade mainly US stocks. If I have >100k, it's better to use IB right?
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Old 22-11-2020, 09:11 AM   #36
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Currently using SCB. Trade mainly US stocks. If I have >100k, it's better to use IB right?
Yep........ even if less than 100k, IB might be better
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Old 22-11-2020, 09:15 AM   #37
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Yep........ even if less than 100k, IB might be better
Why is IB better
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Old 22-11-2020, 10:16 AM   #38
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Why is IB better
it's not always the case so it really depends on how you invest/trade

Some people are too hung over the activity fee and they miss the forest for the trees.

If lets say you are looking at just DCA monthly type of person, unless you are with SCB Priority, you are subjected to a minimum of SGD 10 + GST per transaction or SGD 10.70. Doing it once a month for 12 months that will cost SGD 128.40.

In addition SCB fx rates aren't as competitive to IB so need to take that into consideration.

Whereas for IB, essentially the commission is so cheap, and since in this scenario, the frequency of trade or volume isn't high, we don't really have to care about the commission because your commission will almost never exceed the activity fee of USD 10 per month

Activity fee of up to USD 10 is charged per month if you have less than USD 100k. What that means is, every month you need to spend at least USD 10 in commission, if not it will pay the difference to make up USD 10, so if say you spend USD 1 in commission you pay USD 9 in activity fee, not USD 10. if you spend USD 10 in commission, you pay USD 0 in activity fee. if you spend USD 11 in commission, you will pay USD 0 in activity fee.

So in this scenario, you just need to think of a sunk cost as USD 120 per year.

comparing SGD 128.40 (~USD 95.57) vs USD 120. The difference is only around USD 24.43. (the difference will be much less if you take into consideration the more unfavourable SCB FX)

So you might actually want to consider IB, if you want to have the option to trade more than once a month. because if you look at it, each SCB trade is SGD 10.70 (~USD 7.96)

If you do anything more than 3 additional trades with SCB, you will already be better off with IB than SCB.

So you think about it, are you confirmed going to only trade 12 times a year? or do you want to have the option of doing more than 12 times. maybe in the early days of investing/trading you will be more discipline and stick with 12 times. But over times when you get more confident at it, you may want to trade more than 3 additional isn't a lot to begin with.

And over time you will reach 100k and IB will definitely be better.
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Old 22-11-2020, 10:34 AM   #39
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it's not always the case so it really depends on how you invest/trade

Some people are too hung over the activity fee and they miss the forest for the trees.

If lets say you are looking at just DCA monthly type of person, unless you are with SCB Priority, you are subjected to a minimum of SGD 10 + GST per transaction or SGD 10.70. Doing it once a month for 12 months that will cost SGD 128.40.

In addition SCB fx rates aren't as competitive to IB so need to take that into consideration.

Whereas for IB, essentially the commission is so cheap, and since in this scenario, the frequency of trade or volume isn't high, we don't really have to care about the commission because your commission will almost never exceed the activity fee of USD 10 per month

Activity fee of up to USD 10 is charged per month if you have less than USD 100k. What that means is, every month you need to spend at least USD 10 in commission, if not it will pay the difference to make up USD 10, so if say you spend USD 1 in commission you pay USD 9 in activity fee, not USD 10. if you spend USD 10 in commission, you pay USD 0 in activity fee. if you spend USD 11 in commission, you will pay USD 0 in activity fee.

So in this scenario, you just need to think of a sunk cost as USD 120 per year.

comparing SGD 128.40 (~USD 95.57) vs USD 120. The difference is only around USD 24.43. (the difference will be much less if you take into consideration the more unfavourable SCB FX)

So you might actually want to consider IB, if you want to have the option to trade more than once a month. because if you look at it, each SCB trade is SGD 10.70 (~USD 7.96)

If you do anything more than 3 additional trades with SCB, you will already be better off with IB than SCB.

So you think about it, are you confirmed going to only trade 12 times a year? or do you want to have the option of doing more than 12 times. maybe in the early days of investing/trading you will be more discipline and stick with 12 times. But over times when you get more confident at it, you may want to trade more than 3 additional isn't a lot to begin with.

And over time you will reach 100k and IB will definitely be better.
How about tiger? Also cheap if compared to IB?
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Old 22-11-2020, 10:45 AM   #40
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How about tiger? Also cheap if compared to IB?
not too familiar with tiger, but based on what I gathered...

- No activity fee... but...
- only 5 markets?
- but can trade chinese a-shares
- there's a minimum commission (though SGX currently doesn't have)

So it really depends on what you are doing.
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Old 22-11-2020, 10:47 AM   #41
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not too familiar with tiger, but based on what I gathered...

- No activity fee... but...
- only 5 markets?
- but can trade chinese a-shares
- there's a minimum commission (though SGX currently doesn't have)

So it really depends on what you are doing.
Thanks for info
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Old 22-11-2020, 11:32 AM   #42
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it's not always the case so it really depends on how you invest/trade

Some people are too hung over the activity fee and they miss the forest for the trees.

If lets say you are looking at just DCA monthly type of person, unless you are with SCB Priority, you are subjected to a minimum of SGD 10 + GST per transaction or SGD 10.70. Doing it once a month for 12 months that will cost SGD 128.40.

In addition SCB fx rates aren't as competitive to IB so need to take that into consideration.

Whereas for IB, essentially the commission is so cheap, and since in this scenario, the frequency of trade or volume isn't high, we don't really have to care about the commission because your commission will almost never exceed the activity fee of USD 10 per month

Activity fee of up to USD 10 is charged per month if you have less than USD 100k. What that means is, every month you need to spend at least USD 10 in commission, if not it will pay the difference to make up USD 10, so if say you spend USD 1 in commission you pay USD 9 in activity fee, not USD 10. if you spend USD 10 in commission, you pay USD 0 in activity fee. if you spend USD 11 in commission, you will pay USD 0 in activity fee.

So in this scenario, you just need to think of a sunk cost as USD 120 per year.

comparing SGD 128.40 (~USD 95.57) vs USD 120. The difference is only around USD 24.43. (the difference will be much less if you take into consideration the more unfavourable SCB FX)

So you might actually want to consider IB, if you want to have the option to trade more than once a month. because if you look at it, each SCB trade is SGD 10.70 (~USD 7.96)

If you do anything more than 3 additional trades with SCB, you will already be better off with IB than SCB.

So you think about it, are you confirmed going to only trade 12 times a year? or do you want to have the option of doing more than 12 times. maybe in the early days of investing/trading you will be more discipline and stick with 12 times. But over times when you get more confident at it, you may want to trade more than 3 additional isn't a lot to begin with.

And over time you will reach 100k and IB will definitely be better.
I do agree with reddevil0728 that you want to keep your options open. As mentioned previously by limster, the forex difference between IBKR and SCB is $4 per S1,000 conversion. So for those who trade > $2,000 per month might want to consider IBKR. Sorry for familiar with Tiger as it is cheaper for me to trade SGX with SCB (priority).
Hope this helps.
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