Next best alternative to Interactive Brokers?

[chickenessence]

I think what I'd ask is why not Interactive Brokers? If we know what you're looking for, it makes it easier to recommend something.

Those are both white-label resellers of Interactive Brokers. If you're looking for an alternative to Interactive Brokers, this doesn't seem like a great idea.

Because not fulfilling the criteria below and i will be ending up paying more? $10 per month?

Interactive Brokers’ shortcomings are primarily due to the company’s focus on advanced traders:

Inactivity fees: Interactive Brokers caters to active traders, and that focus shows up in its inactivity fees. Accounts with balances of $100,000 or less must meet a minimum of $10 a month in trade commissions, or Interactive Brokers will charge the difference as a monthly fee

 

[Shiny Things]

Because not fulfilling the criteria below and i will be ending up paying more? $10 per month?

If you're not doing enough to warrant the $10/month minimum monthly brokerage at IBKR, wouldn't it be worth using something simpler like Stanchart instead? What kind of trading are you looking to do?

 

[Average]

For stocks that do not pay dividends, fsmone. Else scb

 

[Lasogette]

Is td Ameritrade worth a look?

 

[limster]

i wonder how come there are so many investors that are paralysed by the choice of broker even though Shiny has given a simple recommendation of either SCB or IB. Both are fine and I am using them regularly.

broker is just a tool, choosing IB instead of SCB or SCB instead of IB will not make you rich or poor. investors should pay more attention to what matters, which is choosing the correct investment strategy that is consistent with your risk profile

 

[chickenessence]

Is td Ameritrade worth a look?

TD Ameritrade should be generally more expensive. If not mistaken, they may have commission free for ETF trade but those are US domiciled.. So dividend will have 30% US withholding tax.

For stocks that do not pay dividends, fsmone. Else scb

Will look into these.

If you're not doing enough to warrant the $10/month minimum monthly brokerage at IBKR, wouldn't it be worth using something simpler like Stanchart instead? What kind of trading are you looking to do?

ETF like IWDA, and occasionally some stocks.
Any comments on the following S&P 500 ETF?
VUSD:LN
Vanguard S&P 500 UCITS ETF
CSPX:LN
iShares Core S&P 500 UCITS ETF
SXR8:GR
iShares Core S&P 500 UCITS ETF

Thanks, will look into SCB.
sounds like White Label IB is a big no no?
Even by quick glance through, those White Label IB should be more "Cost efficient" compare to SCB.

 

[Average]

If u confident to meet requirements to not get charged inactivity fee, IB lo

 

[Zink00]

Stan chart fx is 0.008% currently. If u do a 5k trade thats already 40, plus 10 trade commision.

 

[chickenessence]

i wonder how come there are so many investors that are paralysed by the choice of broker even though Shiny has given a simple recommendation of either SCB or IB. Both are fine and I am using them regularly.

broker is just a tool, choosing IB instead of SCB or SCB instead of IB will not make you rich or poor. investors should pay more attention to what matters, which is choosing the correct investment strategy that is consistent with your risk profile

Should I go with IB and let them charge USD 120 annually?
Up to now, it remains unchanged that either IB, else SCB? No point wasting time to look at other brokers?

If u confident to meet requirements to not get charged inactivity fee, IB lo

Very confident.. That not able to meet requirement.

Stan chart fx is 0.008% currently. If u do a 5k trade thats already 40, plus 10 trade commision.

Does that mean per trade can be $50? 4 times a year then is $200?

 

[Perisher]

Can look at white labels of IB

 

[wutawa]

Stan chart fx is 0.008% currently. If u do a 5k trade thats already 40, plus 10 trade commision.

I just chked. Scb fx is 1%, not 0.008%. Lol
$10 comms on $5k trade is only applicable when u have priority banking (S$200,000 in deposits and/or investments) with scb.
Therefore, if u are buying $5k once in a year using scb, u will be paying $125 (buy: $50 (fx) + $12.50 (comms) + sell: $50 (fx) + $12.50 (comms).
If u have trading capital of >$5k or buy >1 time, in a year, u will be paying more than $125.

 

[endlssorrow]

I don’t know why u guys compare sooo much in the com
Of coz com eat a lot
If wan compare SCB then is the one of the lowest com deducted and then u will compare not with CDP then u will worry this and that and then compare again.

Ar then compare lowest will have to maintain min $100k, if u done.m have the sun then don’t compare again.

Follow my mindset: of long term just hoot some broker to place under CDP if you worry custodian will fail , if not get the min com broker to do trading. As long profit is green y compare and worry how much u pay for com

Again above I type simply in my phone n no check spelling or grammar

Pardon me

Enjoys today is Friday agajn

 

[wutawa]

when ppl compare ibkr with other trading accounts, they r looking at foreign markets. cdp is only for sgx leh.

 

[Mecisteus]

I don’t know why u guys compare sooo much in the com
Of coz com eat a lot
If wan compare SCB then is the one of the lowest com deducted and then u will compare not with CDP then u will worry this and that and then compare again.

Ar then compare lowest will have to maintain min $100k, if u done.m have the sun then don’t compare again.

Follow my mindset: of long term just hoot some broker to place under CDP if you worry custodian will fail , if not get the min com broker to do trading. As long profit is green y compare and worry how much u pay for com

Again above I type simply in my phone n no check spelling or grammar

Pardon me

Enjoys today is Friday agajn

You are talking gibberish on a Friday morning.

 

[limster]

I just changed US$ at SCB at 0.8% premium over IB. But if my holding period is 20 year and I'm looking at an average return of 4% compounded yearly, the 0.8% is insignificant to me.


IB US$100k must only be foreign shares.
SCB S$200k, can be foreign shares, local shares, E-saver savings account.

My view is that SCB $200k is easier to reach than US$100k if your portfolio is at 50% Singapore, 50% overseas.

When you hit $200k, you get no minimum commission, Visa infinite card (no annual fees so far), and Priority pass.

 

[chickenessence]

Can look at white labels of IB

any white labels IB you know of that you can share?

I just chked. Scb fx is 1%, not 0.008%. Lol
$10 comms on $5k trade is only applicable when u have priority banking (S$200,000 in deposits and/or investments) with scb.
Therefore, if u are buying $5k once in a year using scb, u will be paying $125 (buy: $50 (fx) + $12.50 (comms) + sell: $50 (fx) + $12.50 (comms).
If u have trading capital of >$5k or buy >1 time, in a year, u will be paying more than $125.

so if comparing SCB and IB, might as well go for SCB? (lower cost overall)

when ppl compare ibkr with other trading accounts, they r looking at foreign markets. cdp is only for sgx leh.

i already have a local trading account. And IB commission is actually cheaper than the local? (comm at less than S$ 5 per trade?)

You are talking gibberish on a Friday morning.

Sorry if this topic has been discussed and concluded to be either Broker A or B.
But if alternative is found to be "better" for certain group of people, it does benefit some people right?
Forum is for discussion right?

 

[limster]

Sorry if this topic has been discussed and concluded to be either Broker A or B.
But if alternative is found to be "better" for certain group of people, it does benefit some people right?
Forum is for discussion right?

a lot of people just ask questions but after receiving so much advice, they never share what broker they eventually chose or their experience with the broker.

i think there are some users that have been asking questions about IB for many months already, instead of just getting on with it and investing.

i presume you are not that type of user who will be paralyzed for many months and will freely share your experience of choosing a broker.

 

[chickenessence]

a lot of people just ask questions but after receiving so much advice, they never share what broker they eventually chose or their experience with the broker.

i think there are some users that have been asking questions about IB for many months already, instead of just getting on with it and investing.

i presume you are not that type of user who will be paralyzed for many months and will freely share your experience of choosing a broker.

That’s one good way to get people to update.
Anyway i will go ahead with TradeStation Global (TSG).
And do note i mentioned earlier, TSG is likely not able to take Singaporean.

i have asked Captrader, but they answered some of my questions, but conveniently skipped “can Singaporean open account with Captrader”. Anyway i have re-email to ask the same questions again.

Anyway these white label only for certain groups of people that are not so loaded.

 

[lightchaser]

Minimum commission, assuming NYSE/NASDAQ

IBKR (tiered) US$0.35
IBKR (fixed) US$1.00
SCB US$10.00
Saxo US$20.00

hi, stumbled into this thread by chance as I was looking for IB option comm. Can I ask whether are option commission same as the above ? Thks !

 

[Mecisteus]

hi, stumbled into this thread by chance as I was looking for IB option comm. Can I ask whether are option commission same as the above ? Thks !

https://www.interactivebrokers.com/en/index.php?f=commission&p=options1