Referral Codes as You Invest and Insure (Investment Platforms in Singapore)
Updated: 8 September 2022
I wished I have invested earlier, but the apparent complexity of stocks made me procrastinate. It is only with the rise of investing tools that I kick-started my investing journey (again), specifically robo-advisors. Since then, there are all sorts of investing platforms to look into and diversify my eggs.
But better late than never. Better now than later. So I highly encourage you to let your money work!
p.s. More referral codes for you to save when you dine and shop in my previous post.
Remember to do your due diligence before signing up on the following platforms. Sign up with my referral link/code to get bonuses. Cheers! 🙂
Digital Bank
It was announced in December 2020 that Monetary Authority of Singapore (MAS) had awarded four digital bank licenses. I read an article which gives a good overview of the digital banks in Singapore.
Trust Bank Singapore
Trust Bank Singapore (“Trust Bank”) is a digital bank backed by Standard Chartered (60%) and FairPrice Group (40%). Trust Bank is thus able to link its banking services to Link Rewards (a loyalty program of Fairprice).
According to sg.finance.yahoo.com, Trust Bank did not have to apply for a separate digital full digital licence, as Standard Chartered Bank in Singapore secured an additional full bank licence to establish a subsidiary to operate new or alternative business models, such as a digital-led bank with ecosystem partners.
Since Trust Bank is looking to increase its customer base, it’s offering good sign-up bonuses now.
- Sign up before 31 December 2022,
- Sign up before 31 October 2022 and redeem within 30 days after the promotion ends for a complimentary signature breakfast set at Kopitiam and 1KG of FP Superior Fragrant Rice.
Here’s how you can get sign-up bonuses:
- Download Trust Bank APP via www.trustbank.sg.
- Click “Use referral code” and key in 2MZ2A0YU to get S$10 Fairprice E-Voucher. You wouldn’t be able to key in the referral code later on. (Referrer and referred both get this S$10, from 1 September to 31 December 2022)
- Sign up with SingPass MyInfo.
- Select either the Credit Card or Savings Account. I chose Savings Account because we have enough credit cards at the moment. It’s at 1% p.a. for the first $50,000 and as a bank, the deposit is insured by SDIC for S$75,000 per customer account. If you are interested in the credit card, Milelion.com did a detailed review on it: milelion.com/2022/09/02/trust-link-credit-card-review-too-many-emoji-not-enough-free-rice.
- Spend and get your $25 Fairprice E-voucher.
- Wait for the physical cards or you can start using the online debit card (savings account) or credit card in your APP. For your debit card, remember to top up your savings account first before using (Bank Code 9733 and SWIFT code is TRBUSGSG).
- To use before the physical cards are here, shop online or link your Trust Bank card to Apple / Google / Samsung Pay and pay using your smartphone NFC.
- Under Profile, get your referral link and invite your family and friends.
- Redeem the Coupons for the complimentary items (rice and breakfast set). You can find many other good deals under coupons too, add them to “My Coupons”.
Robo-Advisors
Robo-advisors are a great option for entry-level investors because of their low fees, low cost threshold and ease of use. If you have $25,000 or less to invest, robo-advisors may be a great option to help you get started.
CNBC
In the beginning of my investment journey, I didn’t want to monitor the market. Hence, I invested using Syfe, a robo-advisor. This is somewhat a passive investing strategy for me.
I am generally pleased with the performance of Syfe. However, to diversify my funds, I also put funds into Stashaway, another robo-advisor. I don’t like to put all my money in one basket, one bank, one anything, just in case. I chose Stashaway because of the high rating on Seedly, and that’s based on 600+ reviews.
Stashaway
StashAway is a digital wealth management platform that is powered by a data-driven investment framework. Products available include bonds, REITs, stocks, ETFs, and commodities
Sign up with my referral link and we’ll both get up to S$10,000 managed for free for 6 months! All funds invested anytime during the 6 months after first investment will not incur any management fees i.e. a new Stashaway client makes a first deposit on 10 July 2021. This and all subsequent deposits made during the next 6 months will not be charged any management fee, up to S$10,000.
Have a look at the pricing tiers for Stashaway management fees before investing.
Follow the steps below to get your fee waiver:
- Sign up with this referral link: www.stashaway.sg/referrals/christisep3 (only new customers are eligible)
- Make your first deposit within 30 days.
- Make at least a S$1 investment.
Learn more at www.stashaway.sg.
Syfe
Syfe allows me to invest in a blend of global and local equity, bonds, REITs, and gold Exchange Traded Funds (ETFs). Syfe’s proprietary Automated Risk-Management Investments (ARI™) engine automatically manages my portfolio to maintain my chosen risk level.
On top of that, it charges some of the lowest fees among the robo-advisors. Have a look at the pricing tiers for Syfe management fees before investing.
Receive a 6 months fee waiver on your first S$30,000 investment when you use my referral code when creating your account: SRPS2V4LX .
Follow the steps and T&Cs below to get your fee waiver:
- Select your portfolio here: www.syfe.com/build-my-portfolio
- When setting up your Syfe account, insert the referral code: SRPS2V4LX
- Transfer funds through FAST / PayNow to fund your portfolio, at least S$1,000.
- Invest a minimum of S$1,000 in any Syfe portfolio and holds it for a minimum of 90 days.
Terms and conditions (T&Cs):
- Only new customers to Syfe are eligible for this promotion.
- Transfer and invest your funds within 14 days of account creation.
- If you did not enter a referral code at account creation, you have 14 days to apply the referral code from the day you make your first investment. E.g. If you make your first investment on 1 August and did not use any referral code. You can enter a referral code anytime from 1 August to 14 August to be eligible for the fee waiver.
- To help me get a better reward, I would appreciate if you help me in this: If you are investing in Cash+ and another Syfe portfolio on the same business day, do fund the Cash+ portflio first, followed by the other Syfe portfolio.
Learn more at syfe.com.
Low Cost Brokerages
After robo-advisors, I decided to venture into the world of stock markets because of the following two low-cost brokerages: Moomoo and Tiger Brokers. Compared to the high fees of traditional brokerage, these brokerages gave me a chance to trade in small amounts.
If you are like me, an investor starting with low capital, fees is a huge consideration. High brokerage fees can reduce profits by a significant percentage. Hence, a brokerage that charges low fees enables you to trade small while keeping the cost per trade low.
Moreover, the brokerages have good incentives when you sign up with them now. I got an Apple share (AAPL) from Moomoo, held on to it and sold for about US$142! Indeed a good sign up bonus.
If I were to choose one, I would go for Moomoo. Firstly, the sign-up bonus for Moomoo is better. Moreover, I had a hard time trying to contact the Support for Tiger Brokers. It’s fine when all’s well, but if you need help, it can be frustrating. I have no experience with Moomoo’s support though.
Tiger Brokers
Tiger Brokers has low commission fees, sign up perks, stock screeners, and prominent investors as backers.
Follow the steps below to get sign up benefits:
From now to 31 July 2021, use my promo code (UU9OU1) or click here to open an account with Tiger Brokers and you will get these benefits:
- 500 Tiger Coins when you register with Tiger Brokers.
- 60 commission-free trades within 180 days for US stocks, HK stocks, Singapore stocks and Futures
- One Apple (AAPL) share if you make an initial deposit of S$2,001 or more (or equivalent currency). This is the the very first deposit you make. So don’t deposit S$1 for the first time just to test things out.
Moomoo
Get to trade US, HK, and SG shares with Moomoo. I managed to get an Apple stock in their previous promotion. 😉 Now is your chance!
Follow the steps below to get sign up benefits:
From now to 2 August 2021 (8pm SGT), open a Futu SG securities account with my Moomoo referral link (j.moomoo.com/004Ok3):
- 180 days of free commission for trading of US, HK and SG markets from the day of account opening (after approval of account).
- 1 free Apple (AAPL) share
- When you deposit US$2,000 equivalent or S$2,700 in your account, within 30 days from the account opening.
- 1 free NIO Share
- When you deposit US$2,000 equivalent or S$2,700 in your account, within 30 days from the account opening
- Successfully unlock the Level 1 Trading badge, or complete 5 successful trades within 30 days from account opening.
- Other freebies:
- Free access to Lvl2 Market Data in the U.S. stock market.
- Free SGX Securities Level 1 Real-time Market Data.
- Free S$50 Cash Coupon for transferring stock in (other fees and GST may still apply).
Alternative Investment
Hugo (Buy Gold)
Set up a digital account that helps you to spend, save and invest with gold. Get FREE Gold trading on Hugo until the end of November 2021. Moreover, the Hugo card is like a debit card for you to make your purchases. You can choose a round up option whereby you spend S$9.70 on your card, and the remaining S$0.30 will be invested in Hugo.
Moreover, you get Goldback (instead of cashback) when you sign up with my referral link. Goldback® awards get deposited into your Gold Vault 60 days after signing up.
Follow the steps below to get your S$20 Goldback:
- Sign up with my referral link: https://www.hugosave.com/earlybird?mwr=christina-4f2f
- Order the Hugo card.
- Spend S$100 on your Hugo Card within 45 days of signing up.
Gemini (Cryptocurrency Exchange)
With the Cryptocurrencies under correction, I thought it might be a good time to enter into this alternative investment. Hopefully it’s still better late than never moment. Although I must say I have FOMO moments when the prices were skyrocketing.
After reading a few finance blogs, I decided to trade on Gemini, an exchange that is more suited for me, a novice based in Singapore. For investors going in larger positions and/or are experienced, they generally prefer Binance.
According to Gemini.com, “Gemini is a regulated cryptocurrency exchange, wallet, and custodian that makes it simple and secure to buy bitcoin, ether, and other cryptocurrencies.”
Follow the steps below to get US$10 worth of Bitcoin:
- Sign up with my referral link (gemini.com/share/r46vwkzc6) and we’ll each get US$10 worth of Bitcoin.
- Verify with Singpass.
- Under payment methods: Add bank manually for FAST transfer.
- Tip: Transfer a small amount to test.
- Transfer US$100 (or equivalent of your domestic currency).
- Within 30 days of creating the account, buy or sell US$100 (or equivalent of your domestic currency).
- Tip: Under Profile, switch to Active trader to enjoy lower fees. Gemini ActiveTrader™ is a trading interface that offers advanced charting, additional trading pairs, order types, and deeper order book visibility. This interface is unavailable on the Gemini app,
Insurance
With low fixed deposit interests, short term endowment plans seem to be widely recommended. If available, buy through PolicyPal to get cash rebates. First up, you can get $10 PolicyPal credits when you sign up for an account with this referral link: refer.policypal.com/c/JOOGOSTYLE
However, if you have no insurance at all, I would suggest you look at pure insurance products first. Insure yourself first before investing. Protect your wealth first, before you try to grow it. No point in growing wealth and losing it in the end.
You can contact Quinn or Ian from Finexis. Previously, Quinn has shared with me some financial planning tips for parents with young children. She is registered with the Monetary Authority of Singapore as Huang Qiao’E. She’s also a Certified Financial Planner (“CFP”). Find out more about Quinn through her webpage and LinkedIn. Or contact Quinn at [email protected], or 9139 8267 for financial planning for yourself, children and/or other loved ones.
Personally, Ian is our family’s financial consultant for a few years now. You can read about the insurance audit he did for us.
Do quote JoogoStyle as your referral when you contact Quinn or Ian for an appointment. They might just give you some discounts! 😉
Before you go, you can get further savings with these:
- Referral codes when you shop and dine: home.joogostyle.com/referral-codes-singapore
- Free samples for baby and mother: baby.joogostyle.com/free-samples-for-baby
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