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Fortunately opening a trading account to invest in stocks and bonds in Singapore is rather easy. I for one prefer the trading account to be in an established retail bank, so that I can consolidate my current account and investment accounts under one roof and have an easy overview of all my finances. I have experience with two trading platforms: DBS Vickers Securities www. Both can be integrated easily with your existing accounts, but differ quite a lot in terms of features and costs.
As there is no minimum commission I save quite a lot of money, since I mostly do smaller trades. As this example shows the minimum commission is quite disadvantageous for smaller investors. In all other exchanges Standard Chartered is cheaper and has no minimum commission. I would recommend open a free esaver account online first. From there you can apply for online trading online via the online banking platform. It is rather easy and trouble-free. Lazy as I am I am not a fan of visiting bank branches and queuing there.
Standard Chartered lets you do most things online or via the phone which is most convenient. In over four years I have only visited the bank branch once. Do you know if Standard-chartered allow non-residents to apply? Hi Leigh, sorry for getting back to you so late! To open a trading account at Standard Chartered you normally need to be a customer of the bank with an existing account. I chose the free and minimal e-saver account.
Unfortunately you can only open this account as a resident foreigner. No clear details are included in the FAQ at https: Thanks for this blog. Does Standard Chartered charge custodian fee for HK stocks in your case? Standard Chartered does not charge any custodian fees at all, all they charge is a small commission for selling and buying.
Here are the fee schedules:. Thank you for sharing your comparison on the 2 local brokers. Besides vickers and scb, interactive brokers and optionsXpress are pretty popular among Singaporeans. Do you have any idea how does the overall costs for US etfs compare with that of the local brokers? Here is the link: Hi I am a beginner without any academic or financial related qualifications as well as investment experience. How would you suggest a beginner like me to start investing in low-cost ETFs and bonds?
Is DBS Vickers a better platform to kickstart and apply? How about you start with a monthly savings plan that invests in those bonds or low-cost ETFs? You can find out more here: Yes you can buy multiple bond ETFs — you can check my portfolio for one example. Be careful of possible withholding taxes though. I would like to know your opinion on what brokerage account you think is best for a long term buy and keep investor. Transaction fees are not massively important I guess. What are your thoughts?
For me this has worked out quite well. I tried OCBC but found them way too expensive with too many random fees, especially for foreign stocks. When I emailed them, each said they could not provide that before I open an account. Saxo Bank not only tells you which ones they offer, you can trade them on a trial dummy account.
Are you sure you can also trade bonds with SCB on european stock markets? Hi there, I would like to know your opinion on what brokerage account you think is best for a long term buy and keep investor. Cheers and happy ! Try Saxo Capital Market. Leave a Reply Cancel Reply Your email address will not be published.