25 Jul 2009 @ 6:39 AM 

Warren Buffet once said, “There are only 2 rules to investing, Rule 1: Don’t lose money; Rule 2: Don’t forget Rule 1.”

I am currently on a EUR500 per month saving and investing plan which has been implemented early this year.  So far it has gone pretty good and growing at a steady pace.  Target is capital growth and income which matches current savings interest rates.  In addition, any additional income of mine goes to a pot where I select some stocks to invest in.

I started off naively with Deutsche Bank’s Brokerage account, PrivatDepot.  Which is freaking expensive as compared to other online brokers.  I thought 5% front end loads were normal.  Until I discovered other brokers are offering at least half of that.  Only in June did I go and transferred all my holdings to Maxblue (also under Deutsche Bank), but way cheaper.  Orders are about 1% total cost, 50% off of most funds’ front end loads, free accounts.

I asked for the difference between these two and my adviser said it is only the lacking of face-to-face customer service and no advice on investments.  Yeah, about that, emails to my adviser went unanswered, and they only recommend their own products.  What good is their advice?

Disadvantages of Maxblue are as far as I see the cost of changing or deleting your orders, and costs involved if your stock has stock splits, give dividends in stock etc.  Otherwise it’s better and suitable for anyone who are comfortable making their own decisions.

So meantime, Maxblue it is.  Yay me!

Posted By: Kelvin
Last Edit: 25 Jul 2009 @ 06:39 AM

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