QUOTE(skiddtrader @ Oct 18 2009, 01:26 AM)
It's always an advantage to have a broker office near where you are so you can have access to them personally when needed. At least in my opinion.
It's not actually SGD25 per trade as you said, that is just the minimum amount you need to pay or at least 0.33% of transaction value over online transaction.
So if you do trade in amounts where the 0.33% exceeds SGD 25, you pay according to the 0.33% charges. I believe OSK Malaysia charges 0.42% for online charge.
But if you trade in amounts which 0.33% charge is always lower than SGD 25, you will still need to pay at least SGD25 per trade which is the minimum. In this case, it is cheaper to trade via Malaysian brokers which has a much lower minimum charge. Some as low as RM12 per trade.
In my honest opinion, don't bother so much about minimum charges UNLESS you are the type of trader that trades in small volume and wants to profit from very slim spreads like when "Stock A goes up 2 cents then you sell, profiting 2 sens." These type of trading demands minimum commision and charges since you'll be doing it very often and incurring lots of charges.
So try and figure out what kind of investor/trader you are and what kind of system will suit you. If you think you are the kind of trader which trades often in small volume for small profits, then try to get the cheapest broker you can find. But if you are trading in excess of the SGD25 minimum, then don't worry about it, as 0.33% is better than Malaysia's 0.42% for online brokerage.
QUOTE(rosdi1 @ Oct 18 2009, 01:34 AM)
S$25 or RM62 should be OK if you are trading big. If decided to trade in small lot than that can be a bit expensive. A Malaysian broker you can get as low as RM8.88 with jupiter or a or the standard min of RM40 or you can request for a lower min.. I think you can work out the break even before making a decision.
Thanks to both your both feedback. Indeed I am shock to find Malaysia broker is cheaper. And yes, I am trading small.
But my question is, what would be the rate of currency conversion if I am buying SG stock through Malaysia broker? Afraid with all the expensive currency conversion, no point going all this hassle.
Please advise