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All about ETFs / Foreign Brokers, Exchange traded funds
aspartame
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Jan 13 2019, 10:27 PM
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QUOTE(Ramjade @ Jan 13 2019, 09:19 PM) Degiro is OK if the money come from bank account in your name. Not transferwise, Instarem or revolut. Aka must be a real bank account. Not a fintech bank account. That is why it is also risky to use fintech right? I mean, is it possible years later can get into problem with AMLA? Not sure about the mechanics of it...
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aspartame
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Jan 20 2019, 05:49 PM
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QUOTE(alexkos @ Jan 20 2019, 03:53 PM) move 2k EUR with moneymatch = need RM9,452 with instarem = need RM9,392 walao....the cost of being lazy and not going to KL....RM60 burn I think yr time and cost more than rm60? Even if move RM100k, cost savings of RM600 is not life changing la. Can get.. good.. cannot get also nvm..
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aspartame
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Jan 20 2019, 10:50 PM
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QUOTE(Ramjade @ Jan 20 2019, 10:22 PM) If you are investing over long term, RM60 adds up. If one time, then can close eye. Sometimes, such money need to be spend to get more savings down the road. It is precisely because of investing for the long term that this RM60 can be considered a once off cost and thus negligible. This RM60 is a once off cost for every RM10k invested.
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aspartame
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Jan 20 2019, 11:16 PM
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QUOTE(Ramjade @ Jan 20 2019, 11:04 PM) I think you misunderstood me. One off means you won't be paying it again. However because one is transferring money to overseas broker on a regular basis, is not a one off event. Is a recurrent event which makes senses to reduce recurrent wastage. It does not matter whether you transfer out 1 time @ 100k or 10 times @ 10k each time, the total transfer out is still 100k and you pay extra once off RM600 for every 100k .... and so on and so forth ...
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aspartame
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Jan 21 2019, 09:17 AM
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QUOTE(Ramjade @ Jan 21 2019, 09:09 AM) The question is why bother to pay extra when the extra saved can be used for investment? No point paying extra when you get no benefits out from it. Yes, if it is very convenient to do so but he was talking about taking a day and a trip to KL or whatever just to open account to "save" RM60....time and effort is also worth something
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aspartame
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Apr 19 2019, 03:14 PM
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QUOTE(rjb123 @ Apr 19 2019, 02:43 PM) Ah sorry - I was referring to a normal EUR account, not transferwise borderless. Who do you bank with in HK? I used to use HSBC before but they closed everything down a couple of years ago and seem to have become increasingly difficult to open anything new. What do u mean by hsbc “closed down everything”?...r u referring to heir accounts in HK or ?...
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aspartame
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Jul 25 2019, 09:00 AM
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QUOTE(yu_wang @ Jul 24 2019, 07:13 PM) I've tried it, not cost effective IMO. Their bank charges USD25 on receiving each wire transfer, and they charge ~USD8.80 for every stock trade. Going to try Tradestation next to see if it's cheaper. You mean they charge usd25 if you put money into fundsupermart account? What about withdrawal? Another usd25???
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aspartame
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Jul 25 2019, 10:24 AM
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QUOTE(Ramjade @ Jul 25 2019, 10:02 AM) Agreed. Do not buy US stocks or ETF via FSM. Only use FSM for parking, buying SG stocks and HK stocks. That's only true if you do a TT. That's TT fees. If you exchange via FSM internally no charged. For TT into FSM USS bank account and for them to TT money back to you. Oh u mean deposit using SGD and convert vice versa into USD as and when needed will not incur charges right? But is the forex exchange internally favourable??
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aspartame
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Jul 26 2019, 08:37 AM
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QUOTE(Ramjade @ Jul 25 2019, 06:00 PM) I have no issue with closing my brokerage account if they don't serve any purpose. With the maybank fiasco I told my trade representative to send me account transferred form and closure form. At the end of the day is just a tool to achieve your end goal. Why so touchy I spoke the truth about SG brokers? They are a leech. It's cold hard truth. For now yes. Have not found a replacement for it yet. Like I said where on earth can retail investors like me without priority banking have access to spot exchange rate, more or less worldwide market at such low peice? Is like a wish come true. They make everything cheap and possible. Investing doesn't need expensive fancy looking Relationship management. Is like now everyone can invest. Something like air asia. Now everyone can fly. Sorry I have a peasant mentally so additional cost is a very sensitive issue to me especially if the additional cost does not being any added benefits. Actually I am also thankful there are ppl like you around..u keep the brokers in check.. ur biz might not be much but brokers do not like to lose market share both in terms of volume and client base ...i , for one , is not so price sensitive ...if everyone is like me or even Hansel , I think brokerage rates around the world will still be sky high.. actually the main reason was also the competitiveness of IB... but u also don’t see IB getting all the share ... in fact they are not even Top 5 biggest in US.. see? Not everyone is so price sensitive ... there are other factors to consider This post has been edited by aspartame: Jul 26 2019, 08:37 AM
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