7 Reliable Online Brokers for Your Investment in Singapore

Feeling caught with traditional brokerages and their maze of fees? Do not worry; we’ve all been there. What if we told you there is a way to invest smarter, not harder?

Singapore’s online brokerage market is booming, with modern platforms, low rates, and a larger investing universe than ever before. Whether you’re an experienced investor or beginners learning how to start investing in Singapore, there’s a great platform waiting to be discovered.

1. POEMS (Phillip Securities) – Best for long-term investors who want flexibility

POEMS is one of the earliest and most trustable platforms in Singapore. Launched in 1996, the premium online share trading platform is backed by PhillipCapital, which was established in 1975. You can use a CDP-linked or custodian account to invest through this platform.

A CDP-linked account means you own the shares directly while a custodian account allows you to own the shares at a lower cost. POEMS has a great variety of products that people can trade. It includes stocks, ETFs, bonds, futures, and options across 18 international exchanges. It is authorized and regulated by the MAS (Monetary Authority of Singapore).

Pros

• This online broker Singapore has both a CDP-linked account and custodian account.
• It provides access to 18 global exchanges in one account.
• It has various types of products like equity, bond and derivatives..
• It operates under MAS regulation for investor protection.

Cons

• It charges a flat US$3.88 fee for US trades, which is costly for small orders
• It sets a 0.08% commission rate on SGX trades, not the lowest in the market

2. Tiger Brokers – Best for active traders seeking low-cost global access

Tiger Brokers is an online broker Singapore founded in 2014 under UP Fintech Holding (Nasdaq: TIGR). With licensing from the Monetary Authority of Singapore (MAS), it runs with both CDP-linked and custodian accounts for a local stock. With the Tiger Trade app, you can access the local SGX market, the US (NYSE/NASDAQ) market, the Hong Kong Exchange, China A-shares via Stock Connect & the Australian Securities Exchange.

You can trade stocks, ETFs, options, futures, funds, and many more on a single account on the platform. Tiger Brokers is a well-known broker for having competitive fees, worldwide reach, and other deals such as commission-free trading for new users.

Pros

• This broker provides access to SG, US, HK, China, and Australia in one app.
• You can either use your own CDP-linked account or custodian account.
• It supports a wide product range including stocks, ETFs, options, and futures.
• You can enjoy promotional benefits like up to 6 months commission-free trades.

Cons

• It imposes combined commission and platform fees that may accumulate on smaller transactions.
• It sets a US trade minimum fee of US$1.99, which can reduce value for very small orders.

3. moomoo SG – Best for beginners who want low-cost global investing

In 2018, Futu Holdings launched moomoo SG, a MAS licensed digital trading platform run by Moomoo Financial Singapore. It operates using a custodian account model, meaning investors do not need a CDP account as the broker holds the shares on behalf of the investors. You can trade in SG, US, HK, and China A-shares and trade multiple products such as stocks, ETFs, options, CFDs and select cryptocurrencies.

Users can access complex analysis features like advanced charts and more on mobile apps. Moomoo SG has full SGX membership for trading and clearing since 2022, making it a full-fledged digital broker in Singapore.

Pros

• This online broker Singapore offers custodian accounts that eliminate the need for a CDP account.
• You may invest in SG, US, HK, and China’s A-shares with just one account.
• It offers features like real-time data, an investor community and advanced charting tools.
• It grants full SGX trading and clearing memberships for seamless integration into the local market.
• It offers promotions like 0% US stocks commission forever, and 1-year free commission on SG stocks.

Cons

• The platform charges fees which increase the cost of every transaction.
• It restricts the account type to just the custodian model, which could be unsuitable for investors looking for direct ownership of CDP.

4. Saxo Markets – Best for advanced investors needing global multi-asset access

Saxo Markets is the online trading division of investment bank Saxo Bank‐based in Denmark and founded in 1992. Its Singapore branch has been in operation since the early 2000s. In addition, it has regulatory authorisation from the Monetary Authority of Singapore (MAS).

The platform gives access to over 71,000 instruments across the world, including equities, ETFs, bonds, FX, commodities, CFDs, futures and options. It works with a custodian model, where Saxo holds the securities. Investors can choose SaxoInvestor, SaxoTraderGO or SaxoTraderPRO based on their experience and needs.

Pros

• This broker gives access to more than 71,000 instruments from worldwide markets.
• There are three different trading platforms available for users.
• It operates under MAS regulation which ensures compliance and security.
• It supports many assets, such as foreign exchange, commodity and bond assets.

Cons

• This online broker Singapore has a 0.08% commission, which is higher than some discount brokers.
• It makes only use of custodian accounts restricting actual CDP ownership options.

5. Interactive Brokers – Best for global investors who need wide market access

Interactive Brokers (IB) was founded in 1978 but based in Greenwich, Connecticut, United States. It is among the largest online brokerages in the world. The company has presence in major financial centres, and in Singapore through a local entity called Interactive Brokers Singapore Pte Ltd. This entity holds license and regulation by the Monetary Authority of Singapore (MAS).

The platform is only custodian model and custody of the securities is held in nominee custody, and not CDP. IB offers access to 150 exchanges around the world directly including Singapore, the US, Hong Kong, Japan, etc.

Through one integrated account, a wide range of products can be traded including equities, ETFs, options, futures, currencies (FX), bonds, and mutual funds. It has earned a reputation for its low trading fees, low margin rates, and excellent compliance with international regulatory standards.

Pros

• You are able to access more than 150 exchanges worldwide.
• You can trade a diverse selection of asset classes including stocks, ETFs, futures, FX, and bonds.
• For active traders, it provides competitive margin rates and trading fees.
• It follows global regulatory compliance including MAS in Singapore.

Cons

• It has no CDP link and only relies on a custodian account model.
• For SG trades, the minimum charge of S$2.50 raises the cost for small trades.

6. uSMART – Best for tech-savvy investors looking for low-cost US trading

uSMART was founded in 2018 in Hong Kong and is backed by Chow Tai Fook Enterprises. In 2022, it came to Singapore. It is operated by uSMART Securities (Singapore) Pte. Ltd. This online broker Singapore is licensed under Capital Markets Services by MAS and has made Singapore its global headquarters. The custodian model used platform does not require CDP settlement, minimizing costs.

The uSMART mobile application allows investors to trade US and Hong Kong stocks, ETFs, options and CFDs. It provides benefits like zero commissions on US stock above US$40 and costing-effective options and CFDs, AI-driven tools to enhance your trading experience, and higher interest on idle cash balances.

Pros

• You do not need to pay a commission if your trade price is $40 or more.
• It supports a wide array of products like ETF, options, and CFDs.
• This has AI-powered tools and a modern mobile platform for trading.
• It offers features like better interest on idle cash balances.
• There are welcome rewards of up to US$200 for new users.

Cons

• It only supports custodian accounts. No option for CDP ownership.
• There is a minimum fee for low-priced U.S. stocks which could affect small trades.

7. FSMOne (Fundsupermart) – Best for diversified investors who value fee transparency

FSMOne, or Fundsupermart, is the retail investment arm of iFAST Corporation, a fintech company founded in 2000 and listed on the SGX. The Monetary Authority of Singapore (MAS) regulates the service which iFAST Financial Pte Ltd runs.

The investors can choose to settle their trades through a CDP-linked account, where they hold the shares directly in their own name, or through a custodian account, where the broker holds the shares on their behalf.

Investors could access Singapore, U.S., Hong Kong, China, Malaysia and UK markets with one account. The platform supports a wide range of products, including unit trusts and ETFs, bonds (Singapore Government Securities, corporate bonds), insurance, and cash management products. FSMOne charges a flat fee for almost all SGX stocks and provides competitive rates for several overseas markets. It focuses on being straightforward and educating investors.

Pros

• Investors may choose between a CDP-linked or custodial account.
• You can access six markets including Singapore and the U.S.
• It offers a full suite of unit trusts, ETFs, bonds, and insurance.
• It is regulated by MAS and has a wholly owned subsidiary listed on the SGX.
• SGX trades carry a flat fee, which makes the costs predictable and transparent.
• Investor education for a better understanding and focus on transparency.

Cons

• It imposes a flat S$8.80 charge on SG trades that is costly for cheap orders.
• There’s a 0.08% commission on U.S. trades with a US$ 3.80 minimum, which can impact micro trade values.

8. ProsperUs (by CGS-CIMB) – Best for younger investors who want global access in one app

In 2021, CGS-CIMB Securities launched ProsperUs to attract millennials and the next generation of investors. It operates completely on the custodian model, where shares are held in nominee custody. The platform allows access for the eight asset classes across 30 exchanges in 25 countries and more than 30,000 instruments.

The investors can trade equities, ETFs, bonds, FX, options, futures and CFDs as well as managed funds and themed portfolios. You can trade on the stock market at fair prices using the ProsperUS platform, supported by CGS-CIMB’s research. As such, the ProsperUS platform is a good platform for both active traders as well as passive investors. It is operated in Singapore under MAS regulation.

Pros

• Investors can trade over 30,000 instruments across 30 global exchanges.
• You can trade in stocks, ETFs, bonds, FX and 8 other asset classes.
• It has thematic portfolios and managed funds for passive investors.
• It runs under the logic of the MAS regulation and benefits from the research strength of CGS-CIMB.
• There are promotional offers such as waived SGX market depth fees and reduced SG commission rates.

Cons

• This online broker Singapore only offers custodian accounts, and not a CDP-linked one.
• There is a US$5 minimum charge for trades in the United States, making small trades costly.

9. Standard Chartered Online Trading – Best for investors who want banking and trading in one place

Standard Chartered Online Trading was established in Singapore in 2011. It belongs to the subsidiary of the UK-based multinational bank called Standard Chartered Bank Singapore. It is one of the earliest platforms to offer equity trading without minimum commissions.

You can access 14 stock exchanges in 10 countries with the service, which includes Singapore, U.S., Hong Kong, Japan. It works on the custodian model where the shares are held under the bank’s nominee account instead of a CDP.

The platform connects directly to the bank’s financial services to enable multi-currency settlement and transfer, making it suitable for those looking to manage their banking and investing at the same place. The Monetary Authority of Singapore (MAS) fully regulates it.

Pros

• It gives you access to 14 major exchanges in 10 countries.
• It combines trading with Standard Chartered’s banking services for convenience.
• It provides support for multi-currency settlement and funds transfer.
• It is governed by MAS regulation, thus highly compliant.
• New users can get free shares of INTC and BRK.B as a promotion.

Cons

• This online broker Singapore imposes a 0.20% fee on SG trades, more than most discount brokers.
• For SG and US trades, a minimum fee of S$10 is charged, which increases the cost of smaller trades.

10. WeBull – Best for cost-conscious traders who want U.S. commission-free investing

WeBull, which was established in 2016 and has its headquarters in Florida, entered Singapore in 2022 with Webull Securities (Singapore) Pte. Ltd. It is licensed by MAS. The platform operates on a custodian model and only offered overseas trading until 2024, when it started SGX trading.

Investors can access U.S., Hong Kong, China A-shares and SGX markets via its app. It offers features such as extended-hours trading, advanced analytics, and real-time market data.

This online broker Singapore is a great choice for those who want Commission-free U.S. stock and ETF trading, as well as options, fractional shares, and even cryptos via affiliated services.

Pros

• It provides commission-free trading on U.S. stocks and ETFs.
• It allows you to trade on SGX, U.S., Hong Kong and China A shares in one app.
• It helps traders use advanced tools like extended-trading hours and real-time data.
• It has options trading, fractional shares, and access to cryptocurrency.
• There are promotional rewards such as deposit bonuses of up to US$600

Cons

• It only works on a custodian model, without a CDP-linked option.
• There is a minimum fee on SG trades, which may limit efficiency for very small orders.

Conclusion

Get rid of the confusion and start seeing new possibilities. If you choose the right online broker, you’ll be able to trade with confidence in no time. Read our reviews to find the right one for you, and then sit back and watch your portfolio grow!

Disclaimer:

Investing is subject to inherent risks. The contents of this article are provided solely for informational purposes and do not constitute financial advice. It is advisable to seek the guidance of a licensed financial advisor prior to finalizing any investment decisions. The content presented herein might not be appropriate for every investor. While the brokers referenced in this article are regarded as trustworthy, prior to selecting one that corresponds with your investment objectives and risk tolerance, it is vital to conduct your own research.