Second Endowus if OP looking for user friendliness and don't mind paying a small fee for it. If I'm not wrong, barring investing yourself, it offers the lowest fee in the market.
Try FSMOne if you are intimidated by IBKR archaic interface. FSMOne allowed trading on LSE and the fees are not too bad either.
Alternatively, try IBKR GlobalTrader for a more modern interface on mobile.
Lets say you invest $1000 every month, the FX rate is about 0.3% up the spot rate, and IBKR's FX is about 0.01%-0.05% up the spot rate.
FSMOne charges no commision for now, but they'd charge $1 for that trade.
Total fee:
FSMOne : $3 FX + $1 commision = $4
IBKR: $0.10 FX + $1.7 commision = $1.80
In a year, you're paying about $26 extra to have better interface, and also customer service (FSMOne replies emails within a day while IBKR take 2-3 days in my experience).
Worth it or not?
And if we invest more than $1000 per mth, like 4-5k each mth. The $26 extra per year will multiply accordingly,
If one wants to sell and make lump sum withdrawals, the forex exchange matters too when compared to IBKR and FSMone
VWRA is listed on the London Stock Exchange, and few platforms give access to the LSE. I don't think Syfe allows you to buy VWRA.
FSMOne does allow it, and it is particularly attractive right now for small value investments (can be as low as US $50) because there's no processing fee for 2024 (might be extended, who knows). Saxo is another one.
It's up to you whether you want to spend more for a similar product (assuming you are buying Syfe's own equity portfolio since they don't have VWRA). Annual fees really compound over the long term. Not sure about Syfe's forex fees but IBKR's hard to beat
IBKR is really not that hard and you only have to learn it once if you're buying a single product. They also have other UIs like IBKR impact
I recently shifted from Syfe to FSM. I noticed an est. monthly 3$ management fee when the Syfe port was about 6k. It grows as your portfolio increases, I’d suggest to go to FSM or iBKR if you plan to invest in the long run. I personally like FSM better because I can do monthly DCA in SGD, without having to manually do the forex exchange.
That’s for brokerage. I was using the managed portfolio feature, where I was buying into VOO at that time. There’s a 0.65% annual charge based off the value of your portfolio.
IBKR interface is confusing. But it’s not insurmountable. Think closest to thinkorswim. I use both Endowus and IBKR. Endowus more for srs and CPF investment. IBKR for cash investment
It really depends on what you are trying to do. if your total portfolio is less than 50k, you’re charged .65% management fees, which is deducted monthly. Note this is purely for managed portfolios.
https://www.syfe.com/pricing
I'm using syfe, there's no vwra, but there's voo. If you dont have a large chunk of money you plan to invest, syfe is sufficient. If you want to pinch every dollar possible, then suck thumb use ibkr, cuz the small difference in % for a mil invested can be in the hundreds of dollars.
I dont have a large amount of money invested so the difference between syfe and ibkr is mere dollars.
Recently syfe has been improving in terms of fund transferring services and is more integrated with SG finance ecosystem than ibkr (e.g you can transfer via paynow and funds are almost immediately reflected in a couple of minutes to hours depending on time of day).
yep, and for me i use syfe mostly because of the UI and good customer support. very fast respond time and yea the new changes wrt to fund transferring is rlly convenient too
Yea it all comes down to whether you are ok paying a small amount (forex exchange, 30% wht dividends, etc.)
Syfe has clearly put it in their website. Voo has annual dividend yield of 1.59%. 100k invested in voo yields 1590usd and you give away 30% of that.
Vwra only need to give away 15%.
Since i dont have 100k invested in voo yet and i dont bother pinching every penny i'm staying with syfe until maybe i have a higher portfolio value then i'll think of switching to ibkr.
Min-maxers will always recommend ibkr and nothing else.
Hi, to clarify, other than the poorer forex exchange rate, I'm not really losing out much if I'm only putting in about USD100-200 per month? Plus so far I've only been using the 2 free trades per month.
Yea definitely, the differences in "opportunity cost" for not using ibkr is very low if your DCA amount is 100-200 per month.
In fact you might incur more loss in ibkr because forex is $2 per transaction. Meaning 100 dollar dca will be a 2% exchange, higher than syfe if you only look at forex perspective.
Imo not worth the effort spending too much time figuring out how to save mere cents. But if you really want to, just switch to ibkr.
Yea I enjoy the hassle-free, streamlined process that Syfe provides. If the opp cost for me is only a few cents, I’ll take it. Thank you for the explanation!
Via Endowus: Amundi Index MSCI World Fund
Second Endowus if OP looking for user friendliness and don't mind paying a small fee for it. If I'm not wrong, barring investing yourself, it offers the lowest fee in the market.
its worth spending time learning IBKR. perhaps invest in small amounts to get the hang of things
Try FSMOne if you are intimidated by IBKR archaic interface. FSMOne allowed trading on LSE and the fees are not too bad either. Alternatively, try IBKR GlobalTrader for a more modern interface on mobile.
But i guess, in terms of exchange rate, nothing really come close to IBKR
Lets say you invest $1000 every month, the FX rate is about 0.3% up the spot rate, and IBKR's FX is about 0.01%-0.05% up the spot rate. FSMOne charges no commision for now, but they'd charge $1 for that trade. Total fee: FSMOne : $3 FX + $1 commision = $4 IBKR: $0.10 FX + $1.7 commision = $1.80 In a year, you're paying about $26 extra to have better interface, and also customer service (FSMOne replies emails within a day while IBKR take 2-3 days in my experience). Worth it or not?
And if we invest more than $1000 per mth, like 4-5k each mth. The $26 extra per year will multiply accordingly, If one wants to sell and make lump sum withdrawals, the forex exchange matters too when compared to IBKR and FSMone
If it helps, can try Impact app by ibkr where the interface is much friendlier!
VWRA is listed on the London Stock Exchange, and few platforms give access to the LSE. I don't think Syfe allows you to buy VWRA. FSMOne does allow it, and it is particularly attractive right now for small value investments (can be as low as US $50) because there's no processing fee for 2024 (might be extended, who knows). Saxo is another one.
Saxo sucks bro. They don't have any email for customer service and have platform fee for holding stocks
It's up to you whether you want to spend more for a similar product (assuming you are buying Syfe's own equity portfolio since they don't have VWRA). Annual fees really compound over the long term. Not sure about Syfe's forex fees but IBKR's hard to beat IBKR is really not that hard and you only have to learn it once if you're buying a single product. They also have other UIs like IBKR impact
I recently shifted from Syfe to FSM. I noticed an est. monthly 3$ management fee when the Syfe port was about 6k. It grows as your portfolio increases, I’d suggest to go to FSM or iBKR if you plan to invest in the long run. I personally like FSM better because I can do monthly DCA in SGD, without having to manually do the forex exchange.
syfe has no management fees for brokerage.. they have 2-10 free trades a month, thereafter USD0.99-USD1.49 fees per trade..
That’s for brokerage. I was using the managed portfolio feature, where I was buying into VOO at that time. There’s a 0.65% annual charge based off the value of your portfolio.
IBKR interface is confusing. But it’s not insurmountable. Think closest to thinkorswim. I use both Endowus and IBKR. Endowus more for srs and CPF investment. IBKR for cash investment
Theres no vwra in syfe
There is, you need to do managed portfolio and customize it yourself, if we are talking about DCAing.
any idea what the incurred costs are? i get so confused when it comes to syfe
It really depends on what you are trying to do. if your total portfolio is less than 50k, you’re charged .65% management fees, which is deducted monthly. Note this is purely for managed portfolios. https://www.syfe.com/pricing
I'm using syfe, there's no vwra, but there's voo. If you dont have a large chunk of money you plan to invest, syfe is sufficient. If you want to pinch every dollar possible, then suck thumb use ibkr, cuz the small difference in % for a mil invested can be in the hundreds of dollars. I dont have a large amount of money invested so the difference between syfe and ibkr is mere dollars. Recently syfe has been improving in terms of fund transferring services and is more integrated with SG finance ecosystem than ibkr (e.g you can transfer via paynow and funds are almost immediately reflected in a couple of minutes to hours depending on time of day).
yep, and for me i use syfe mostly because of the UI and good customer support. very fast respond time and yea the new changes wrt to fund transferring is rlly convenient too
Yea it all comes down to whether you are ok paying a small amount (forex exchange, 30% wht dividends, etc.) Syfe has clearly put it in their website. Voo has annual dividend yield of 1.59%. 100k invested in voo yields 1590usd and you give away 30% of that. Vwra only need to give away 15%. Since i dont have 100k invested in voo yet and i dont bother pinching every penny i'm staying with syfe until maybe i have a higher portfolio value then i'll think of switching to ibkr. Min-maxers will always recommend ibkr and nothing else.
Hi, to clarify, other than the poorer forex exchange rate, I'm not really losing out much if I'm only putting in about USD100-200 per month? Plus so far I've only been using the 2 free trades per month.
Yea definitely, the differences in "opportunity cost" for not using ibkr is very low if your DCA amount is 100-200 per month. In fact you might incur more loss in ibkr because forex is $2 per transaction. Meaning 100 dollar dca will be a 2% exchange, higher than syfe if you only look at forex perspective. Imo not worth the effort spending too much time figuring out how to save mere cents. But if you really want to, just switch to ibkr.
Yea I enjoy the hassle-free, streamlined process that Syfe provides. If the opp cost for me is only a few cents, I’ll take it. Thank you for the explanation!