Thursday, March 1, 2018

Best brokers to buy/sell stocks

DBS Vicker Cash Upfront



Pros:

  1. Stocks you buy will be credited to the CDP by T+3. Currently there is a promo as shown until the end of June 2018.
Cons:
  1. Inconvenient: Have to login through Internet Banking website. Authenticate 2FA twice.
  2. Order type: No stop loss.

FSM One

They have revamped their offering and they allow selling of shares from CDP for 0.12% only.

Buying of shares is currently only with cash and will place shares under their custody. CPF IS is not supported. 

I clarified the above with FSM's customer support.

Buying of stocks using CPF IS is still expensive at 0.28% (DBS) or 0.275% (OCBC).

Conclusion

Buy using Vicker and sell using FSM! Beat Stan Chart's 0.20% hands down with CDP protection! However, Stan chart offers stop loss order type which Vickers and FSM One do not.



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