After you have opened the two accounts you can either buy stock via an online trading platform or through calling broker to execute trade on you behalf. Most investors prefer to execute trades themselves via online trading platform for cost saving. The cost for broker assisted trade is about 2x the amount of online platform.
For instance, on OCBC securities. Its minimum commission for broker assisted vs Online is $40 and $25 respectively, and the commission fee is 0.5% and 0.275% respectively:
Even though it is cheaper but for the less tech-savvy usually our parents’ generation they may still prefer broker assisted trade, as some brokers give stock tips. If not all most people I know they execute their trades themselves via online platform.
For a step-by-step guide on using online trading platform to buy shares click here.
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