Hello, guys welcome to Gotrade review and Saxo TradeGo. If you can invest for as low as Php50 or maybe $1 depending on the value of the dollar, you can use Gotrade to buy US stocks like shares on Google, Apple and Netflix as mentioned here.
What is Saxo TraderGO?
Saxo TradeGo is free to set up with no monthly subscription fees for the platform. Some features – e.g. Level 2 market data – however, require a subscription. So let’s continue with the gotrade review.
So I’m here with the aim of the Gotrade review website and it says here, invests with ease. So it’s easy to invest using Gotrade and as mentioned earlier, for as low as $ 1 we can now invest.
So let’s try that, so I have already installed and registered with Gotrade, so let’s open that and then enter my PIN code. And so far they seem to be very straightforward, when I used Gotrade, I remembered those e-wallets here in the Philippines, how we use it, is just like in Gotrade, but not the same, but its “ease of use,” it’s really easy.
So you can invest with ease and let’s test that now. So let’s say I want to invest, it says here Google, so let’s tap Google. So I’m on Google stock and then tap this trade and buy in dollars.
2021 GoTrade review and Analysis
According to our gotrade review earlier you buy Google for a dollar value at a minimum of $1, so let’s tap that and then change it to $1. We can tap preview buy. So here are my shares, and let’s swipe to buy. And buy order received, so currently it’s on pending, because the stock market is not open yet.
But we can still buy others Iike those on Apple and Netflix. And so far when I used it, it’s really easy to use and actually I’ve read something that they let a seven-year-old one try this, and so far that 7-year-old kid was able to do it.
So in the succeeding videos, we will explore Gotrade, but for now, I will show you first whether this “invest with ease” feature in Gotrade is true? And so far it’s really fast to invest and use Gotrade easily if you want to buy US stocks.
And with this Gotrade review. I was able to sign up using the invite code, if you use the invite code, the approval or completion of your account here on Gotrade will be expedited.
So just in case you want to register, this is the code, 066226, or if you can check the video link at the end of this video, we will provide the step by step tutorial guide on how to register with Gotrade and from there we also get a free $ 6 as we complete the process on Gotrade registration.
Now, of course, there are common questions about Gotrade, which of course, you’ll probably ask too and we’ll try to cover that in this video, but just in case there are questions that we missed, feel free to provide a comment below, and we will cover that in our succeeding videos and we will also try to respond to your comments.
Now, is our money safe with Gotrade? So that’s covered here, in one of Gotrade’s articles, “Is my money protected/ segregated?” So our money must be separated from their operating cost, which means they won’t spend our money, but instead, it will be invested in its intended company.
Like for me, I invested or bought $ 1 worth of shares of Google and Facebook, that’s really where it will go. It’s not going to go into operating, nor into development or any other cause, which can be used by Gotrade.
And also, the brokerage account comes with SIPC protection, our account is protected up to US$ 500,000.
So What Is This SIPC?
SIPC is Securities Investor Protection Corporation, it protects clients of brokerage firms like us, that in the event the firm fails, it offers insurance to clients up to $ 500,000.
And then, I checked further with SIPC, here is their website, they are a non-profit corporation that has been protecting investors like us for 50 years. They work to restore investors’ cash and securities when brokers fail.
SIPC, so far has recovered billions of dollars for investors. And also, in the succeeding videos, we will test if we can withdraw successfully here on Gotrade? So that we can see to it that once we deposit, will it be easy to withdraw or what do we need to do to withdraw our money here on Gotrade? Now, there is also this part, “Why should I switch to Gotrade review, just in case you have another broker?” Or maybe you’re not real or you don’t have a broker yet.
why do you need to try Gotrade?
Well, of course, if you want to buy US stocks? If you want to invest, or your money to grow? And one of your options is to buy shares in the US, Gotrade is one of your options.
They offer real stocks, it’s not CFD’s, because CFD’s, it’s like, they match the current price of the stocks, but you don’t have shares in that company like in Google. Here in Gotrade, you will have actual shares, which means you are eligible for benefits if you have any shares in that company, like dividends and we’ll talk about that later on.
The stocks we buy on Gotrade are registered under our real name. And fractional share trading is possible, if you notice we can buy for as low as $ 1, it does not require a full share just so we can buy here using the Gotrade.
Fractional, meaning, we can buy even less than 1 share. So for example, in Facebook, he has $100/share, we can buy this 1/100th of a Facebook share with $1. So it was made possible by TR8 securities, I’m not sure if I read it properly.
How To Buy US Stocks Using Saxo TraderGO
They work with US-regulated stockbrokers, where shares can be fractionalized, so we can own very small units, depending on what we bought from those companies like Facebook, Google, Amazon Netflix, or whatever US companies offer or publicly trading in the US.
And let’s go back here, we can deposit as little as $1. When I tried to register, I was able to deposit $10, I can’t remember it, maybe I’ll double-check it if they require at least $10.
Maybe you can invest for as low as $ 1 but one of the things I remembered is that it’s really easy to deposit here on Gotrade, which I will show in the next video. And also the perks or the incentives that I got as I complete the registration process here at Gotrade.
Now for fees, no commission fee, no admin fees, no custody fees, inactivity fees, there are also no dividend fees. And also they support local deposit methods for over 70 countries with lower currency conversion rates.
In the next video, I will show you how much, what happened when I made a deposit using my BPI debit card here at Gotrade. So far, the difference in Peso is not big, compared to the exchange rate at that time I deposited here on Gotrade.
And as mentioned here, our account is protected by SIPC for up to $500,000. And “Can you open an account here on Gotrade?” Well, in your country, as for me, I live here in the Philippines, I was able to open an account with Gotrade successfully.
What if you’re not residing in the Philippines or maybe you’re not a Filipino?
Are you eligible to open an account here in Gotrade? “Well, when you sign up or when you register in Gotrade, upon completing your profile, you will see if your country is listed in the registration process.
If it’s not listed there, it means you cannot proceed with the registration process, which also means that you cannot use Gotrade to invest or to buy US shares.
Now, let’s proceed to dividends here, “If you buy shares on Facebook or Google, wherein they provide dividends, are you eligible? “Yes, since they mentioned that you are owning the real stocks, you are eligible for dividends, if and when the company pays them.
And we must remember that dividends are subject to withholding tax and this tax is deducted at the source. However, here in this part, if we only have fractional positions, dividends may not be paid. It still depends on the size of your shares or your position.
So for example, if your dividend will receive, less than $0.01 you will not get a dividend. Basically because of this reason (no one is able to pay a fraction of a cent!) And since we mentioned the dividend tax, It was also covered here, under the US domestic tax law.
A foreign person like us, Filipino are subject to 30% US stocks, unless there are special treaties, like ours in the Philippines, I thought it was 15%, well, it’s 25% of the tax to be held in case we have a dividend to receive from the company.
Now for other taxes aside from dividends, it is stated here, of course in dividends, there is that tax, however, the tax we’ll personally file it with the BIR, we are really the one to process it. Gotrade will generate a tax form at the end of each year to help us or that is the document that we can use in case we need to declare our taxes.
And lastly, we mentioned that you can get free $ 6 that you can invest here at Gotrade, and let’s go back to my mobile app. I’ll show my financial transactions, so I go back to my account, and then reports and then financial transactions.
If you notice, I have rewards here of $3, another reward of $1, and June 1 rewards of $12. It’s not $12, instead, The reward was only $2, because I deposited $10 and after that, they gave me that reward they gave me $2.
So in total, I got $6 or I got incentives from Gotrade worth $6 that I can invest here at Gotrade. And I got that during the complete registration process which is I showed the step-by-step tutorial guide here in this video.
So click on this next video, we will show if we had an issue or is it easy or what are the questions covered during the registration process here at Gotrade? And here’s the code you can use, so you can skip the waitlist here on Gotrade.
Hope this gotrade review cleared your misconceptions. Remember to share.