Free commissions? No currency conversion fees? Source: Tenor Sounds great when you’re looking out for the
cheapest online brokerage to invest with. But when you dig a little deeper, you’ll realise that these brokerages can actually cost you more! How? The answer lies in the
Forex (FX) spread. Read on to find out how much it
really costs to dollar cost average into US stocks/ETFs with IBKR, Syfe Trade, Moomoo, and Tiger Brokers!
Disclaimer: We are not sponsored by any of the platforms listed. Platforms are chosen based on popularity among the Seedly community and based on writer’s discretion.
TL;DR: Dollar Cost Averaging Costs for US ETFs/Stocks — IBKR vs Syfe Trade vs Moomoo vs Tiger Brokers
Scenario: Investing S$1,000 per month into a US ETF (VOO) over 12 months.
| Broker | Interactive Brokers (IBKR) | Syfe Trade | Moomoo | Tiger Brokers |
| FX Rate* (SGD to USD) | 0.7622 | 0.7599 | 0.7596 | 0.7602 |
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