Anyone trading in singapore shares?

[kakowi]

Hello,

Is there anyone here who is experienced in trading in singapore shares?

The minimum charge for placing an online order is $25 for DBS Vickers, Lim and Tan, Phillip Securities.

Do you know of any other broker which has a lesser minimum?

Thanks.

 

[2lanu]

How much u want to save? $25 charge is equal to buying minimum $4000 of stock. If you are buying more than this amount, why bother?

 

[Conan the Barbarian]

On line is only .25%, so 25 bucks is similar to $10K worth of shares.
Nobody charging less, unless you are an institutional customer.

You may want to trade stock indexes if you want to save on commissions.

 

[kakowi]

How much u want to save? $25 charge is equal to buying minimum $4000 of stock. If you are buying more than this amount, why bother?

it should be $9,000 x 0.28% per trade.

 

[kakowi]

On line is only .25%, so 25 bucks is similar to $10K worth of shares.
Nobody charging less, unless you are an institutional customer.

You may want to trade stock indexes if you want to save on commissions.

Thanks.

That's what i was thinking of too.

So it looks like there is no other alternative than to pay that minimum.

PS: Conan, the minimum percentage must have increased. It is no longer 0.25% but 0.28% for the three brokerages i mentioned above.

PS: each trade will carry a minimum charge of $30+ in view of brokerage charges, sgx charges and gst. Since each trade is buy and sell, you need to factor $60+ as fixed costs.

 

[johnny333]

I stopped actively trading Spore shares because of the costs & didn't want to bother my broker

Its easier to trade in US stocks through an online broker in the US. It only costs US $10 a trade.

 

[pia]

IIts easier to trade in US stocks through an online broker in the US. It only costs US $10 a trade.

Hi Johnny, I'm interested in US share. Who do you use and how are the commercial transactions executed? Care to share?

 

[kakowi]

Thanks Johnny333,

I believe that etrade.com.sg charges only US$9.99 a trade with no sgx charges and gst.

But it covers only the US market.

The reason i did not pay too much attention to that is because the US government owe too much money and their solution is to print money to pay off debts.

Thus the long-term forex risk makes me avoid the US market.

Note: I am not saying that you should not invest in the US market. Just my thoughts which can be wrong.

Cheers

 

[kakowi]

Dear All,

I made a recalculation.

One lot carries an overhead of 6 cents per share.

May not be much if i just buy and keep.

The advantage is that there are no recurring costs unlike the case if i buy unit trusts.

So, either i pay for the bread upfront or i pay for it year by year.

Either way, no free lunch...sian

 

[downgrader]

I remember Hong Leong Building, sigh......

 

[johnny333]

Hi Johnny, I'm interested in US share. Who do you use and how are the commercial transactions executed? Care to share?

Looking like Etrades the only game if you live in Spore. They have an office at Robinson Rd but you apply online via their site. Take a look at their site

https://us.etrade.com/e/t/home

There are 2 different platforms standard & pro but unless you are an active trader the standard platforms is sufficient. The pro platforms gives you real time pricing, charts, etc The standard platform is good enough for me.

Cost per trade is US$9.95 to US$19.95 depending on how frequent you trade per month or if you have a minimum of US$50k

The platform is easy to use & much easier than using a live broker. Live brokers give you an update of buy/sells only at the end of the trading.

If you have a Spore address, don't bother about trying to open to open an account with Ameritrade because they do not accept any Sporeans customers.

 

[johnny333]

The reason i did not pay too much attention to that is because the US government owe too much money and their solution is to print money to pay off debts.

Thus the long-term forex risk makes me avoid the US market.

You trust the Spore gov't :p

I'm trying to diversify into forex trading but the market is broken

Theres another option if you want to trade the HK, Thai, US, whatever ...markets, take a look at Interactive brokers. You can trade stocks in Asia, Europe, US, etc . I took a look at their cost structure but couldn't understand their cost structure

You might want to consider trading the Malaysian market. I was thinking of opening an online trading account with Maybank. I've got some Malaysian shares being held by my Spore broker & paying a monthly holding fees. I was going to transfer the share to Maybank & save on those holding fees & gst fees which they charge when I receive a dividens.

 

[kakowi]

Thanks Johnny333.

It's not that i trust the singapore government

It is that i trust their self-preservation instincts