How to Open a US Stock Account

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Referral code 0CM1QE

These days, the US election
As a novice investor, I won’t share because of the time difference and buying at high prices
Waking up in the middle of the night to a big drop and being forced to sell
Now I’m watching the stocks go up 🚀, but I’m too embarrassed to enter the market

I’ll just share my bitter experience of opening an account back then

US Brokers

Because many US brokers offer commission-free trades, I looked into them first

  • Robinhood (user-friendly interface)
  • TD Ameritrade (established)
  • Firstrade (Chinese customer service)

With Robinhood, both parties can receive free stocks with a referral code, so I asked a friend in the US for one. But then I found out that it can only be used within the US…
TD Ameritrade has an SG website, but after submitting the required documents, I got stuck at the last step and there was no response to my email inquiries
Firstrade automatically submits tax forms for non-US citizens. After submitting the required documents, it took a few business days for the account to be approved. Then I found out that only ACH, Check, and Wire Transfer are available for deposits.

ACH and Check require a US bank account for transfer, so they’re not possible
Wire Transfer incurs fees

Singapore Brokers

Then I researched Singapore brokers and found out that they use UOB or DBS bank’s trading account. I’ve heard that the transaction fees are sky-high, not worth it

Domestic Brokers

Well, after going in circles…

  • Xiaomi’s Tiger Brokers
  • Tencent’s Futu
  • Xueqiu’s Snowball

I was quite happy that 🐯 supports opening an account in Singapore

  • US stocks, Hong Kong stocks, Singapore stocks, Australian stocks…
  • Support pre-market and post-market trading, futures
  • Leverage

I was even planning to upload my passport and other documents, since I had them prepared beforehand
But then I found out that they support Singpass authentication, and it was quickly verified after a couple of redirects…

Oh my, if I had known it was this easy
Shouldn’t I have opened an account last year?

Otherwise, by now, it would have likely multiplied several times
Or maybe I would have jumped off a rooftop

Trading Fees

Because I don’t (dare to) trade options
Normal buy and sell transactions have three additional costs

  • $2 for buying
  • 0.1% of the total value of the stocks
  • $2 for selling

So even if you lose all your money, 🐯 will still be overflowing with profits

Referral Code

You can use my code 0CM1QE

As for the current promotions, both parties can benefit from

  • 5 commission-free trades
  • Deposit $2000 SGD and get $30 SGD, deposit $30,000 SGD and get $100 SGD

Well, I have no desire to refer anyone

I remember that they used to give one share of Alibaba, maybe they can’t afford it anymore because the price has gone up too much?

Performance Report

Take a look at my performance report from these past two days of global stock market surges. I couldn’t sleep, worried and scared, but after some fearless actions…

So what are you waiting for? Register quickly

I’ll be waiting for you on the rooftop~~~

Translated by gpt-3.5-turbo