It seems like there is a new broker in SG.

https://www.prosperus.asia/

Fees: https://www.prosperus.asia/pricing/

Funding: https://www.prosperus.asia/faq-funding/

This post has been edited by TOS: Jun 22 2021, 12:10 PM

Well, all brokers are not special.

Fees as far as I know are based on percentage like say 0.1%. If your current broker charge you a fixed commission and you invest a larger capital per trade then the percentage might be lower than 0.1%, in which case Propsperus is not recommended for you.

For my case, I have small capital, so if compared to say TSG 3.75 SGD per trade, the fees amounts to something like 0.5-0.7% per trade for me. So this seems quite attractive to me.

As for promotions. There are promotions but not exactly related to investment. https://www.prosperus.asia/promotion/experi...hile_investing/

Forget about promotions. You should focus on the credibility and reliability of the platform, not one-off sweeteners. Fees, customer service, ease of usage of platform etc. should be your prime consideration, don't let the capitalist and marketing agents fool you.

Prosperus grew out of CGS-CIMB and is aimed at the digitally-savvy. So likely all major CGS-CIMB-served markets are also covered by Prosperus.

As for referral code, I didn't open any account with it yet. I came across this new brokerage service while looking for research reports for OCBC and Ascendas REIT on Investingnote.

https://www.investingnote.com/posts/2266370

At least I know Prosperus has a transfer out fee of 50 SGD per counter. Something to take note of.

I am still happy with TSG for now. I don't bother about referral codes anyway. Marketing gimmicks don't work for people who study economics like me.

Indeed this no-minimum fee structure caught my attention, which is why I share here. But above some large numbers, for SG stocks, better off with Moomoo/Tiger/Pure IBKR. They charge less than 0.1%, Moomoo go as low as 0.03%, Tiger 0.04%, Pure IB 0.08% if memory serves.

TSG is dinosaur-era stuff for him.

Then after Moomoo and Tiger, this must be your new test vehicle. No "free" apple stock ya

https://www.cgs-cimb.com/en/cgs-cimb-securi...l-investors.jsp

CGS CIMB is more like IBKR/TSG geared towards more sophisticated users.

Prosperus is more digitally-driven and more like "Moomoo/Tiger broker/TD Ameritrade" style. They are geared towards millenia.

You can compare their product offerings respectively. Pricing are also different: https://www.itradecimb.com.sg/app/help.clie...1515778a7b200d8

So you can say CGS CIMB is a full-fledged broker while Properus is more DIY and more like a discount broker with the bare minimum to keep you running.

Have you tried withdrawing money back to your SG bank account? Any TT charges or it is done via say FAST?

Thanks for your pioneer effort. Remember to update here when you have successfully withdrawn the money.

Any deductions for fees etc.? You are using CIMB SG?

Can you check they TT to you or transfer via FAST?

I am happy to change but can you suggest a more descriptive title?

My thought is: "Trade UCITS with local MAS license" but sounds a bit funny to me.

As you wish. Desc is a bit long, so I changed to "UCITS" instead.

From the pricing page, the answer is no.

https://www.prosperus.asia/pricing/

That was old data.

You can see a snapshot of the old pricing here: https://web.archive.org/web/20210330155452/...s.asia/pricing/

Back then (30th of March 2021), there were minimum fees and commission rates were higher.

This post has been edited by TOS: Jun 24 2021, 02:19 PM

Yes the other members answered correctly. US is flat 5 USD. No minimum. The 0.02/share means for CFDs (i.e. stocks and/or ETF CFDs, not the stocks or ETFs themselves).

Yes flat 5 USD (there might be other exchange fees too, although none is stated in the pricing page of FAQ)

So far yes that is the method, some members suggest using IBKR or other brokers to trade US equities. There are better alternatives elsewhere.

https://forum.lowyat.net/index.php?showtopi...ost&p=101376884

He is referring to the US equities trading cost. Flat 5 USD is rather expensive for investors with small capital compared to other brokers like pure IBKR.

The problem with Prosperus is it has low fees for several exchanges like LSE or SGX only. Considering fees, you might want to use a different broker to buy US stocks.

TSG has same issue (for my case), cheap for US but 3.75 SGD per trade for SGX is also expensive for me, at least compared to Moomoo/Tiger/Prosperus.

Fragmentation is a problem here. Unless the cost savings across various brokers exceed the hassle and costs of spreading your investment across them, otherwise stick to one.

This post has been edited by TOS: Jun 29 2021, 02:45 PM

Maybe you can ask honsiong, our front-running beta tester. Who knows if you missed some buttons?

Sure, can buy. But fees and minimum commissions are your main hurdles.

(With prosperus, honsiong proved that no minimum fees are charged for his UCITS purchase on LSE.) Commission is lower than IBKR/TSG.

9 GBP is rather high. Mind sharing the link to the source?

Why not you post an example screenshot, then compare yours with honsiong? honsiong can help confirm since he already has an account.

Maybe that settles your doubt.

Prosperus is CGS CIMB Singapore product. Your question is about CGS CIMB Malaysia, can ask here: https://forum.lowyat.net/index.php?showtopic=849298&hl=

It is called iTrade in Malaysia.

I guess licensing is the issue. As long as SC refuses to grant permission, the entry barrier is there for banks and existing players to monopolize the market.