Skip to main content

Pumping SGD$28k in HKEX and SGX the past 10 days and Fee comparison between DBS Vickers and Tiger Brokers

Just as I pumped in ~SGD$28k into the stock market in the past 10 days, the share prices dropped ðŸ¤¦‍♀️

Anyway, ever since I blogged about my $300k cash savings, it has been at the back of my mind that I may be too heavy in cash.

It's a great safety net, but because of the poor interest rates across savings accounts, I seem to be "losing money". 

With the entrance of Tiger Brokers (see my guide here and here), it gave me an impetus to enter foreign stock markets - because of their low transaction fee and given how sluggish SG market is. US market is one of the hottest market to enter, but for the past days, it has been rallying so high that I don't bear to enter. Despite the drop today, I'm still waiting for the time to enter🤭

As such, I decided to enter the HK stock market and pumped in ~SGD$23k. Don't ask me where my courage came from but I guess I didn't want to sit around and miss out the chance since the March market dip. Who knew things would go even south after I bought my stocks 😂

However, since I'm buying for long-term, I shall TRY to look at the current paper losses indifferently. 

Comparison of fees: DBS Vickers Cash-upfront account vs Tiger Brokers

Prior to using Tiger Brokers, I have been using DBS Vickers to trade local stocks. I've been using the cash-upfront account and the rates are as stated:

DBS Vickers Cash Upfront Account allows you to enjoy preferential commission rate of 0.12%, minimum SGD10 when you trade via DBS/POSB iBanking for all Singapore trades.

I decided to buy into the SPDR STI ETF through Tiger Brokers to take advantage of the low fees.

This is what Tiger Brokers charge:

Actual fee comparison for my SPDR STI ETF purchase

Here's the breakdown of the costs between DBS Vickers Cash-upfront vs Tiger Brokers. As you can see, I saved $6.34 by buying through Tiger Brokers - essentially, I'm saving on the commission and GST since trading fee and clearing fee by SGX are fixed.

Stock voucher to offset

Other than the lower fees, using Tiger Brokers meant I get to offset my purchases through the $70 stock voucher (see step 5 in the link here on how I got my voucher).

My ~SGD$28k stocks 

Here's a show-hand of my account (note that it's in USD), my losses after things went south, and the $70 cash rebate. I received the $70 cash today (1 day after I bought my STI). No idea why there's an extra $0.01 ðŸ˜¬



Referral

If you are keen to use Tiger Brokers and you'd like to receive stock vouchers to offset your stocks purchases, kindly use my referral link, code (SBSL8) or scan the QR code to sign up😊

Btw, with that, I no longer have $300k cash savings ðŸ˜Š Time to work harder to achieve my goal of $600k cash by 35.

Labels:

Comments

  1. G SilvaOctober 11, 2020 at 7:31 AM

    Imagine you reside in Europe and the battery of the OCBC token died so that the token shows incomplete numbers. Then you realiza that there is no way to make OCBC reason. To use online banking, to replace the token, you MUST fly from Europe to Singapore. No return of token by registered mail, no delegation of pick up in a co-holder living in Singapore, absolutely nothing entres those stone faced bureaucrats. By comparison, Banks in Europe, or USA while keeping the services very safe, do have employees allowed to reason.

    ReplyDelete

Post a Comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

I finally cross $700k networth, after 1 year 4 months

I wondered how I should kickstart this post - should I be positive or negative about this? After 1 year 4 months, I finally crossed $700k in networth - returning back to where I've been at, back in Dec 2021.  I am disappointed.  For the past many years, I've always been growing my networth, at around $100-$150k/year. I had big plans to hit a net worth of $850k by December 2022, but the universe had other plans for me. Instead, I only managed to reach $646k, leaving me with a $204k gap to my target.  Ever since I became more aggressive in my "investment" portfolio in 2021, being sucked by greed to deploy most of my cash into stocks and crypto, I fell heavily, along with the crashes. Crypto wiped out 5 digits savings, so did the stock market.  To be honest, ever since the crashes and a bad hit to my net worth, I actually didn't do anything special to improve. I didn't make drastic spending cuts, I didn't stop my holidays, I didn't continue investing (no
2 comments
Read more

What the luck? DBS and OCBC banking tokens died!

What luck. My ibanking tokens went dead one after another. OCBC Token First was my OCBC token. It said "low battery", but I ignored it. And when I finally need to use it, it was dead. Granted that I could use SMS OTP, I had to make a big transfer to other banks and it was over the withdrawal limits. And to do that, I needed the ibanking token. And serve me right for not activating the onetoken. In the end, I had to call in to OCBC call centre for a replacement. 7 working days, they said. What a long wait. In the midst of it, I needed to make my interbank transfers. I even went down to OCBC bank and explored a stupid manual way i.e to withdraw cash and deposit into the other bank. But the moment they told me they ran out of big notes, I got scared. While waiting for the token to arrive, I figured I could actually do transfers in smaller amounts, but had to bear with a daily cap. Sigh. And, one week later, my OCBC token arrived. How efficient. DBS token
3 comments
Read more

Extremely bad start with UOB One

With the influx of posts on social media re UOB One (psst on grabpay) and the receipt of my house keys, I decided it was the time to sign up for a UOB One account plus credit card. It was gonna be the best tool for household joint expenses and joint savings. However, I've faced multiple hiccups that made me VERY frustrated....WHY ME?! 1. Delayed approving process led to losing out of sign up bonus First, I signed up for the UOB One card and Account in early Oct through Singsaver's promotion. The promotion said that I'd get to enjoy cash incentive for registration + UOB's promotion of $80 cash credit with min $1k spent within 30 days of card approval. Mind you, t hese terms were stated to end on 31 Oct , extracted below: S$80 Cash Credit for  UOB  One Account:  Limited to the first 500 new to  UOB  Deposits customers who either (i) deposit and maintain $5,000 or (ii) credit their salary, into their new  UOB  account for 6 consecutive months. Terms and conditio
11 comments
Read more