I am a Singaporean who has been investing in the Stock Market for a while using the boglehead portfolio. I am currently using the Standard Chartered bank as my broker as it had the lowest commision fees, and another bank for day to day stuff (Salary, credit cards etc). I also have some local stock bought using DBS.
Background information: (Can ignore)
Recently, Standard Chartered has imposed a minimum commisioning fee, so it's not as great to use as a broker as before. DBS has similar fees for local transactions, although overseas transactions are still cheaper at Standard Chartered. I am considering changing all my stock from Standard Chartered to DBS, to make it easier to see how much I have and make it easier to rebalance. DBS also has better forex The main worry is about the slightly higher commision fee.
How important is the lower comissioning fee?
Standard Chartered Online Trading
- Fee: 0.25% (min. 10 GBP)
- Custodian Fee: None.
- Fee: Minimum GBP 25; or 0.35% of trading principal (whichever is higher)
- Custodian fee: SGD 2 per counter per month, capped at SGD 150.00 per quarter.
TL:DR: I am considering changing my broker to make it easier to manage my portfolio. How important is it to get the lowest possible brokerage commision fee?