For a period, Singaporeans could only envy U.S. investors who has access to $0 commission trading. Now, the reality has finally reached our shores as the competition among brokerages has driven the commission rate for U.S. trading to $0.
moomoo trading app has just announced it – permanent $0 commissions for US trading effective from 13 Apr 2022 onwards for eligible customers.
Besides the commissions, Futu SG (moomoo) has also waived the platform fee of US$0.99 per order for a year. This is applicable for existing customers between 13 Apr 2022 and 12 Apr 2023. For new clients, the 1-year period will start from the day they open their account.
But note that you will still need to pay fees charged by the U.S. authorities such as SEC fees, settlement fees, FINRA trading activity fees and ADR custodian fees, which would be the same amount charged by any other broker. Moreover, these fees are usually insignificant when compared to commission fees....