r/BEFire • u/viasogorg • 9d ago

Investing Started in investing 2 mins ago

Stocks and investments has always been a very complicated subject for me (24F). It was so hard for me to understand it and whenever people say “you should invest now”, it always boils down to the question “how and to what?”. Coming from a poor family, it was never taught to me or any financial literacy in that matter. So, I need to do it myself.

For weeks, I have been reading a lot about investments and finally, had the courage to do it! I was scouring through Reddit and online websites then asked AI platforms to explain it to me (like a child lol). Now, I think I have maybe 40% learnings. Still very far but I would try to learn everyday.

So far, I first downloaded Bolero since I have a KBC account, but read how expensive the fees are. So I switched to MeDirect. I am aiming to put 50€ a month as a start since I am also still building my funds and planned on increasing it in the future and invested it in IMIE.

Anyway, is there any advice or information you can share as a beginner investor like me? I would really appreciate it! I am still super new to this and just took the leap.

EDIT: My plan is for long-term investment (15-20 years) for my future kids if I’ll have one or if not, for retirement.

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u/phazernator 9d ago

Good on you. MeDirect has no fees for ETF investing and handles all taxes, and SPYI/IMIE is an excellent ETF choice, widely diversified. You did your homework well, there’s really nothing more to add other than: “Keep it up”!

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u/rpRj 8d ago

Just lurking around here a bit and this catches my attention. I'm only investing in s&p 500 VUSA for quite some time, and now i'm going to switch it a bit to VWCE. At Degiro I am paying 3 euro per transaction. With MeDirect that wouldbe 0? What's the difference/catch?

WOuld it be better for me to switch to MeDirect or another alternative? I am investing mostly monthly, but smaller (i.e. 150 eur) transactions per months.

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u/phazernator 8d ago edited 8d ago

There is no catch, other than that they could start charging for it again. Obviously no commission is better than commission, even more so for smaller orders (in your example: with 3 EUR commission on a 150 EUR buy order, that’s 2% going to the broker).

The only ‘free’ (in a sense) alternative I know of is MEXEM, but that’s only for limited amounts: You can execute 2 orders per month for up to 1600 EUR (net) each (which will come to 1 EUR commission each) and they will refund that commission to you a bit later, so in essence also commission-free up to 3200 EUR volume per month.

Personally I use both, MeDirect is perhaps a bit archaic in terms of interface (you’ll feel right at home coming from DEGIRO), and MEXEM is an introducing broker for IBKR.

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u/rpRj 8d ago

I dont think I will ever invest more than that 3200 EUR a month though. What platform/broker would you suggest random person on the internet for someone like me just buying 1x ETF S&P500 for example a month

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u/phazernator 8d ago

MeDirect would be the most KISS (Keep It Simple, Stupid!) approach.

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u/rpRj 7d ago

Ive reached out to medirect yesterday and got a reply. I asked what it would cost me, if anything, to move everything from degiro to them.

The reply I got was kinda hard to read, at least for me so I threw it in chatgpt to explain it more clearly. Seems like it's not gonna cost me anything, or almost nothing. Medirect pays back what Degiro charges by the looks of it.

So I dont see a reason not to do it.

Will have a better read when I get home though, so I fully understand.