Bank broker recommendations

[fulat1]

Hi all,

Previously,I was invited by dbs to open iWealth acc. so I bought and dca sti etf and abf using this acc. now they wanted to charge me $50 / month as my AUM below 200k.

so now, the question, should I :-

1. open vicker broker acc for transfer and continue to trade? bear in mind that MCA need $3k balance. though I have that, but I don't like $$ TO BE lock in.

2. transfer all my trades to SCB ? since I'm using scb to buy iwda. though the commission is extra 0.02% than dbs.

3. look for other bank brokers?

as wife not tech savvy, I rather use bank broker, so that will be easier and straightforward for her to make claims in future.hence need advice from bros

 

[chrisloh65]

I think those are the 2 best choices you have. But do note that DBS Vickers charge $2 per stock per month as custodian fee.

For SCB it is more advantageous if you have >$200k and there is no min commission fee and no custodian fee.

OCBC Securities also charge $2 per stock per month as custodian fee.

Hi all,

Previously,I was invited by dbs to open iWealth acc. so I bought and dca sti etf and abf using this acc. now they wanted to charge me $50 / month as my AUM below 200k.

so now, the question, should I :-

1. open vicker broker acc for transfer and continue to trade? bear in mind that MCA need $3k balance. though I have that, but I don't like $$ TO BE lock in.

2. transfer all my trades to SCB ? since I'm using scb to buy iwda. though the commission is extra 0.02% than dbs.

3. look for other bank brokers?

as wife not tech savvy, I rather use bank broker, so that will be easier and straightforward for her to make claims in future.hence need advice from bros

 

[cassowary18]

Hi all,

Previously,I was invited by dbs to open iWealth acc. so I bought and dca sti etf and abf using this acc. now they wanted to charge me $50 / month as my AUM below 200k.

so now, the question, should I :-

1. open vicker broker acc for transfer and continue to trade? bear in mind that MCA need $3k balance. though I have that, but I don't like $$ TO BE lock in.

2. transfer all my trades to SCB ? since I'm using scb to buy iwda. though the commission is extra 0.02% than dbs.

3. look for other bank brokers?

as wife not tech savvy, I rather use bank broker, so that will be easier and straightforward for her to make claims in future.hence need advice from bros

MCA connected to Vickers account have fall below fee waived. If you kiasi, can open My Account instead, no fall below fees and can connect to Vickers. Ask your RM if can transfer your holdings to CDP for free (by right must pay but I heard of instances when DBS waive the fee for transfer to CDP).

 

[fulat1]

thank u all. I think I consolidate all to SC.