Reviewing all my Stock Brokers - Tiger, MooMoo, Interactive Brokers, SCB, DBS Vickers

Are you trying to start your investment journey, but have not made the first step because you don’t know which Stock broker to choose?
Then you have to watch this video because I will share my own personal experience with the brokers I have used before
And review the good and bad about each broker, so that you don’t have to!
_______________________________________________
Follow my Instagram: @HoneyMoneySG
  / honeymoneysg  
Telegram Group: https://t.me/HoneyMoneySG
Email: [email protected]

If you sign up for any of these services using my link, I will earn a small commission which helps support my channel at NO additional cost to you. And you will definitely get some referral benefits as listed here!

🐮 moomoo by Futu SG (Free Stock) https://bit.ly/sgmoomoo
Tiger Brokers Code HONEYMONEY (Free AAPL stock): https://bit.ly/tigersg
Endowus Roboadvisor (FREE $20) https://endowus.com/invite?code=8TAWI
Interactive Brokers: https://ibkr.com/referral/waikit564
Syfe RoboAdvisor: Use code HONEYMONEY @ https://www.syfe.com/
Credit Cards Affiliate Links (Singsaver gifts) https://bit.ly/CreditCard-Signup
_________________________________________________
00:00 Introduction
1) Compare by brokerage rates (Cheap, value for money)
2) corporate actions (Rights issue, Preferential offer)
3) Mobile app User experience (user friendly, performance)
Not talking about sign-up process because more or less standardised nowadays
Not talking about Desktop softwares, since most of us trade on phone

01:38 DBS Vickers
SGX brokerage rate 0.12%, Min Commission $10 for Cash Upfront
SGX stocks will go into Central Depository Account (CDP Account), not custodian (Corporate actions via ATM/iBanking, can sell out from any CDP broker, Attend AGMs and vote)
Qualify for DBS Multiplier Account investment category to earn higher interest
Direct debit from DBS/POSB Bank account for Cash Upfront
Poor Mobile Trading app: lag, old design, not User friendly
Sell Trades still have Min commission $25, will need another broker like FSMOne to sell at min $10
No free Live prices

04:07 Standard Chartered Online Trading
SGX brokerage rate 0.20%, Min Commission $10 (Pre-funded) for non SCB Priority customers
Relatively good vanilla Mobile Trading App
Qualify for SCB Priority Banking at S$200,000 Assets under Management (AUM)
Custodian Broker account, Shares are held on trust by the Bank or its nominee. The clients are the beneficial owners of these securities. In the unlikely event that the Bank becomes insolvent, such securities held on trust are not subject to the claims of the Bank’s creditors. This is because the securities are held on trust by the Bank or its nominee as custodian, and are kept separate from the Bank’s own assets.
Lose benefits of CDP broker, but corporate actions are free (small time frame)
Need to transfer funds from SCB Banking account to Trading account (DBS to SCB to SCB Trading)
No free Live prices

07:07 Interactive Brokers (IBKR)
📈 Interactive Brokers: https://hmsg.link/ibkr
Tiered brokerage rate: $0.35 USD (US), $1.99 USD (LSE), $2.50 SGD (SGX)
Relatively good Mobile Trading App
Corporate actions can be done on the Internet site
Spot Foreign Exchange rate (close to Google FX rate)
Affordable margin rates 1.6% IBKR US, 2.6% IBKR SG (IBKR SG can trade SGX stock)
$10 monthly activity fee removed till further notice, for portfolios below $100K USD
Learning curve to get used to the interface, compared to Tiger/MooMoo
1 free withdrawal per month, 2nd withdrawal will cost $25
No free Live prices

09:43 Tiger Brokers
🐯 Tiger Brokers SG Code HONEYMONEY (Free stock): https://hmsg.link/sgtiger
Brokerage Rate $0.005 per share or min $1.99 USD (US), 0.08%, No Min Commission (SGX)
First mobile broker in 2020 to offer live prices for free and affordable brokerage fees
Good user experience mobile app
Free AAPL stock and other vouchers
Rights issue unable to apply for excess, only up to entitled units
More expensive than IBKR for US trades
No data for Cryptos

11:18 MooMoo Brokers
🐮 moomoo SG (Free Stock) https://hmsg.link/sgmoomoo
Brokerage Rate $0.054 per share or min $1.99 USD (US), 0.06%, $2.49 (SGX)
Live prices for Stocks, ETFs and Cryptos
Good user experience mobile app
Free AAPL stock and other vouchers
More expensive than IBKR for US trades

12:21 My pick
Interactive Brokers for cheapest brokerage, good margin rates, good foreign exchange rates, relatively good mobile trading app.
#tigerbrokers #moomoobrokers #interactivebrokers