ThinkOrSwim Discount Broker Opens Singapore Branch.

I have been using ThinkOrSwim.com as a discount broker on and off for the past 3 years. It enables me to option trade or trade in US stocks at a much cheaper price compare to Singapore brokers.

The commission I pay is around USD 5 per trade with the same downsides such as estate taxes and withholding taxes on dividends.

Recently Ameritrade acquired ThinkOrSwim but services have not suffered. It is to my surprise today that I received this mail:

Now this is somewhat of bittersweet to a Singapore investor because:

1. Normally under Singapore regulation these US brokerage will not offer the cheap commission that we grew accustom to when we use them in US. Bad
2. There are more restrictions to what we can trade. Bad
3. You probably get to transfer much easier compare to if its based in US. Good.
4. ThinkOrSwim iPad and Windows is probably ONE OF THE BEST trading clients out there. As a geek it is a dream because they just keep building and improving it. Good.

I am really interested to know how this will affect the commissions. Currently I am using this in conjunction with Saxo Trader. Saxo Trader have a high commission of USD 19 per trade. Much higher than ThinkOrSwim but still much lower than Singapore Brokers.

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Kyith

Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.

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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Insurance Start-up Havend. All opinions on Investment Moats are his own and does not represent the views of Providend.

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His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.

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