After setting up my SGX account and brokerage account with OCBC for more than half a year, I have finally made my first purchase of shares! >_< Although given by my age (of 29) it seems like a 'meh' kind of event, but I felt that it is quite a big step for me.
Recently I have been wanting to do a purchase as part of the list of things I want to accomplish this year. So on Thursday night I was going into my account and looking at just doing a simple purchase to understand the whole process of buying.
I'm not really literate in this area, but from what I have gathered, buying ETF stocks seemed to be a rather conservative and safe approach to familiarizing myself with the environment. So I went into my account, and took a look at what I think are the 2 prominent ETF stocks in Singapore.
1) SPDR Straits Times Index ETF (ES3.SI) @ 1.15
2) ABF Singapore Bond Index Fund (A35.SI) @ 3.00
I thought for a 1st purchase of trying it out, I would just buy the minimum number of shares at the minimum price. So I placed an order of 100 lots of STI ETF @ 1.15.
Some time on Friday, I received notifications that my purchase went through, and I have officially bought my 1st shares!
The total cost of the purchase was however a question. So today I logged into my OCBC account, and took a look at the amount to pay through the Electronic Payment for Shares (EPS). It was $142.29!
It came as a bit of a shock, but I recalled that there is a minimum sum of transaction fees involved. Determined to do a thorough breakdown of the fees, I did a quick search of all the transaction fees involved and see whether it worked out to be $142.29. But all the processing fees and brokerage commission didn't add up. My calculation showed that I should be paying more than $142.29. haha..
I guess I would just ask my broker for help on this.
It's one of the many first step.
Towards financial independence! Gambatte!
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