And let’s not forget that the custody fee of IB goes away after 100K USD.
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Large sun is obviously subjective. But not everybody might be ready to pull the trigger on 24k as their first investment.
And not everyone can have 24k to invest each time if you want to DCA a little…
Which is why people make sub-optimal investment decisions. Just buy. Don’t sell. Be patient.
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Read my last paragraph of the longer post. TW could be good if you are in a very particular situation. Otherwise I do suggest IB:
[quote=“Kilbim, post:19, topic:199”]TW definitively helped me pull the trigger on investing for the first time by giving a lot of confidence. I can not recomend it enough if you are in a similar situation. If you are a seasoned investor with relatively high amounts to invest, ready to lump-sum it, then go with IB or other brokers. If you’re relatively new, want to DCA and/or in general don’t plan to invest that much, then TW is a good alternative, at least for starting out.
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You need 8’500 for TW as well, that isn’t that far from 24’000 away.
You don’t need to invest 24’000 at a time, just have that as the final amount.
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Fees will be very expensive if you want to DCA monthly. (I know it’s sub-optimal to DCA, but it gave ME, a first time investor, peace of mind)
Your fees get deducted from the inactivity fee of 10 USD per month, investing 2’000-5’000 per month will cost you less than these 10 USD, even if you buy from SIX.
Do you know how much you pay(=spread) for converting CHF to USD with TW?
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It’s a very, very costly peace of mind. I wouldn’t be that peaceful knowing how much TW is taking from my investments over long term.
As I said, it depends from each personal situation. The fees depend on how much you plan to invest and how often, and this is different for everybody.
Plus, referring to DCA and how much you invest and how quickly, you have to keep in mind not everyone knows how he or she will react to a market crash, if they don’t have ever experience it first hand. Easy to say to stay invested when it goes up, probably harder to do when you see your 100k going to 80k, 60k, 40k… I bet in all the big crashes in the past a lot of people knew that pulling out was a losing strategy, yet they still got scared and did it. And that might cost you even more than the fees. But as I said it depends. If you know yourself that well, good for you!
Forget TW: my broader point here is that everybody should evaluate his situation very carefully and be very honest with himself and then take a decision. But not just take whatever everybody else is saying just because it’s the louder answer. With my post I was trying to give a different perspective for users to reflect on, since here for some argument you only hear the same preaching over and over, which can be good for most but will surely not be good for ALL.
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You can get a whole bunch of transactions with 10$ on IB (As long as you stay away from some of the expensive ones), so you can easily DCA within the inactivity fees as long as you keep your port folio to less than 5-7 Positions.
I am not saying there is no usecase for TW(in the context of this communitiy), it is just extremely narrow and gets pretty expensive after. Also switching over is not free and does additionally expose you to some timing risk cause you have to take your money out of the market for >1Week during the transfer.
TW is great for “normies” that would normally not invest at all and just use the risk dial and add money.
As for me I wish I would have taken the go IB advice when I got it (but I didn’t, twice).
This is a pretty specific community where this will be a good for pretty much NOONE and even then only for a bit. (>25yo, planning to stay <24k for multiple years)
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There is a long trueiwealth review here , reference: https://investinghero.ch/true-wealth-review-2019/
(he has affili links in it)