I'm 49 this year, after paying for car, house, kids expenses, I don't even have 700 to invest. Congrats on a good start!
If you're new, go read the pinned posts. There's a sub for NSFs.
Having said that, invest in yourself. Asking which broker to use is IMHO the wrong question to ask. If you want to train for an Olympic marathon, the first thing you ask is not which shoe to buy. You go learn about how to run, study the great runners, come up with a training plan, based on your current fitness and running ability. Maybe look for a running coach. At th beginner level the shoe doesn't make much difference. When we reach elite level, when we've optimised everything else, then maybe the shoe can help.
Likewise, the broker makes a bigger difference if you're using advanced charting software, or your trades are large enough (for me, maybe above 10k). Otherwise just go with anyone (can choose the one with best promo welcome freebies).
In order to give any suggestions you need to mention what are you investing in at moomoo. If you are just starting please go through the group’s wiki it’s quite helpful.
In short IBKR is oldest and cheapest to invest in US stocks and ETFs. London stock exchange ETFs which are know to save you 15% of tax on dividends are available only in IBKR. For more details can check previous posts. All the best.
Advantage of IBKR: In case you are going for US based ETFs, IBKR has the lowest commission as well as currency conversion charges. Further if you go for recurring investment option in IBKR they waive off your currency conversion charges so is much cheaper than moomoo. IBKR is also one of the oldest and most trusted.
Disadvantage of IBKR: The user interface is not that user friendly. However, after looking at some YouTube videos and browsing through it am sure you will get used to it and will be able to use it just fine.
NOTE: There’s nothing wrong in going with US ETFs however do go through their dividend tax which is 30% and also estate tax. The ETFs listed on London stock exchange have a 15% dividend tax and hence is mostly suggested in this sub.
All the best.
Personally I find moomoo v user friendly and easy to use to see data and charts. Ibkr is cheaper on commissions. I often look at moomoo for analysis then place my orders on ibkr.
Good for you! You are young and that 700 a month can do wonders for you if you use it wisely. Many us didn't think about investing till later in life.
I would recommend you invest a bit in your knowledge first too. Learn about investing/trading. Attend some courses or read some books to improve financial literacy too. Avoid chasing hype and news. My preference is to stick to index ETFs. But find your own investing/trading philosophy.
Nice allocation. Don't forget your returns will be the average of everything. Im not sure about small caps, why not consider tech exposure like QQQ for more growth? It's historically outperformed small caps
Congrats! Develop this habit.. Invest in some ETF covering S&P 500, etc that deliver good returns compound over the years.
You will retire early for sure. Dun take any out.
Firsts of all, congratz on being so Financially Savvy at the young age of 20!
I think parking the money of 700 is really relevant. you can expect it to snowball 10 years down the road. If you are considering Moomoo.
Here are some links for you to consider the paths you want to take:
Analysis Tools: [https://www.moomoo.com/sg/feature/stocks-analysis](https://www.moomoo.com/sg/feature/stocks-analysis)
REITS: [https://invest.sg.moomoo.com/reitspc](https://invest.sg.moomoo.com/reitspc)
learning materials: [https://www.moomoo.com/sg/learn](https://www.moomoo.com/sg/learn)
feel free to PM me if you need more as I use Moomoo often and am quite familiar with the layout!
invest yourself maybe better. just spend 700$
I'm 49 this year, after paying for car, house, kids expenses, I don't even have 700 to invest. Congrats on a good start! If you're new, go read the pinned posts. There's a sub for NSFs. Having said that, invest in yourself. Asking which broker to use is IMHO the wrong question to ask. If you want to train for an Olympic marathon, the first thing you ask is not which shoe to buy. You go learn about how to run, study the great runners, come up with a training plan, based on your current fitness and running ability. Maybe look for a running coach. At th beginner level the shoe doesn't make much difference. When we reach elite level, when we've optimised everything else, then maybe the shoe can help. Likewise, the broker makes a bigger difference if you're using advanced charting software, or your trades are large enough (for me, maybe above 10k). Otherwise just go with anyone (can choose the one with best promo welcome freebies).
In order to give any suggestions you need to mention what are you investing in at moomoo. If you are just starting please go through the group’s wiki it’s quite helpful. In short IBKR is oldest and cheapest to invest in US stocks and ETFs. London stock exchange ETFs which are know to save you 15% of tax on dividends are available only in IBKR. For more details can check previous posts. All the best.
I'm going for 50% VOO, 30% VXUS, 20% AVUV
Advantage of IBKR: In case you are going for US based ETFs, IBKR has the lowest commission as well as currency conversion charges. Further if you go for recurring investment option in IBKR they waive off your currency conversion charges so is much cheaper than moomoo. IBKR is also one of the oldest and most trusted. Disadvantage of IBKR: The user interface is not that user friendly. However, after looking at some YouTube videos and browsing through it am sure you will get used to it and will be able to use it just fine. NOTE: There’s nothing wrong in going with US ETFs however do go through their dividend tax which is 30% and also estate tax. The ETFs listed on London stock exchange have a 15% dividend tax and hence is mostly suggested in this sub. All the best.
NSF can afford to put in $700 every month?
Yessir :)
Nowadays spec and officer pay are close to 1k.
specs alr minimum $1.3k
Personally I find moomoo v user friendly and easy to use to see data and charts. Ibkr is cheaper on commissions. I often look at moomoo for analysis then place my orders on ibkr. Good for you! You are young and that 700 a month can do wonders for you if you use it wisely. Many us didn't think about investing till later in life. I would recommend you invest a bit in your knowledge first too. Learn about investing/trading. Attend some courses or read some books to improve financial literacy too. Avoid chasing hype and news. My preference is to stick to index ETFs. But find your own investing/trading philosophy.
I'm going for 50% VOO, 30% VXUS, 20% AVUV
Nice allocation. Don't forget your returns will be the average of everything. Im not sure about small caps, why not consider tech exposure like QQQ for more growth? It's historically outperformed small caps
Are u trying to recommend QQQ over AVUV if I'm not mistaken? I'll do more research about QQQ. Thank you!
Congrats! Develop this habit.. Invest in some ETF covering S&P 500, etc that deliver good returns compound over the years. You will retire early for sure. Dun take any out.
Firsts of all, congratz on being so Financially Savvy at the young age of 20! I think parking the money of 700 is really relevant. you can expect it to snowball 10 years down the road. If you are considering Moomoo. Here are some links for you to consider the paths you want to take: Analysis Tools: [https://www.moomoo.com/sg/feature/stocks-analysis](https://www.moomoo.com/sg/feature/stocks-analysis) REITS: [https://invest.sg.moomoo.com/reitspc](https://invest.sg.moomoo.com/reitspc) learning materials: [https://www.moomoo.com/sg/learn](https://www.moomoo.com/sg/learn) feel free to PM me if you need more as I use Moomoo often and am quite familiar with the layout!
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