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.
| Online Broker | Commission & Fees | Investment Options | Account Minimum |
| Moomoo | $0 commission for US stocks & ETFs, Minimum $0.99 platform fee | Stocks, ETFs, Options | $0 |
| Interactive Brokers (IBKR) | Tiered commission structure, starts at $0.005 per share | Stocks, Options, Bonds, Futures, ETFs, Mutual Funds | USD 10,000 (SGD 13,800) |
| T.D. Ameritrade | $0 commission for US stocks & ETFs | Stocks, Options, ETFs, Mutual Funds | USD 0 (SGD 0) |
| Syfe Trade | Fractional shares investing, commission starts at 0.02% | Stocks, ETFs | SGD 100 |
| SAXO Markets | Commission-based pricing, varies by asset class | Stocks, Options, Futures, CFDs, ETFs, Bonds | Minimum deposit varies by currency |
| CGS-CIMB | Brokerage fee starts at SGD 10 | Stocks, ETFs, Unit Trusts, Bonds | SGD 2,000 |
| Weibull | Per-share commission fees, starts at USD 0.0008 | Stocks, Options | USD 100 (SGD 138) |
Table of Contents
1. Moomoo – Best for Investment Broker
Moomoo is a prominent trading platform renowned for its zero commission fees on trading in the US market and ETFs.
Regulated by the Monetary Authority of Singapore (MAS), Moomoo offers an array of trading securities, including H.K. stocks, U.S. stocks, U.S. stock options, S.G. stocks, ADRs, Futures, REITs, and Exchange-Traded Funds (ETFs).
Minimum initial funding: none.
Standout Services/Expertise:
- Moomoo has garnered attention for its attractive incentives, such as offering free Apple shares to new account holders and a welcome bonus of up to S$3,500 in free stocks.
- With minimum commission fees of S$0.99 for S.G. stocks and S$1.99 for US stocks, along with competitive trading fees, Moomoo caters to cost-conscious investors.
- They offer complimentary Level 2 market data, which allows investors to access real-time information such as bids and asks them to execute trades more accurately.
- Investors have 24/7 news to gain access to detailed analysis of stocks and price fluctuations.
2. Interactive Brokers (IBKR) – Great for Active Traders
Interactive Brokers is a renowned online brokerage platform favoured by active traders for its low commission and margin rates. With over 45 years of industry experience, it facilitates many trades across 130 markets worldwide.
Minimum initial funding: none.
Standout Services or Expertise:
- Interactive Brokers offers access to various markets, including stocks, mutual funds, bonds, ETFs, futures, and cryptocurrencies.
- The platform boasts competitive pricing with no ticket charges or account fees. The minimum commission fee is S$2.50, with a trading commission of around 0.08%.
- Notable features include a Block Desk for remote securities tracking and an IB SmartRouting system for IBKR PRO users.
- Flexible Plans: Two plans available:
- IBKR Lite: Offers 0% commission on ETFs and U.S. stocks with no inactivity fees (restricted to US-domiciled users).
- IBKR PRO: Provides access to advanced features like the IB SmartRouting system.
3. T.D. Ameritrade – Perfect for Beginners
T.D. Ameritrade is a reputable online brokerage firm regulated by the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Financial Industry Regulatory Authority (FINRA).
It stands as one of the safest brokerage firms in Singapore today.
Minimum initial funding: S$3,500.
Standout Services or Expertise:
- T.D. Ameritrade offers commission-free trading of stocks, options, and ETFs to the US market.
- With no minimum commission, platform fees, or trading fees, it requires only a minimum funding of S$3,500.
- Particularly suited for beginners, T.D. Ameritrade provides excellent educational resources and access to trading specialists at no additional cost.
- Upon registration, users gain access to various products and services, including charting, scanning, and technical analysis tools.
4. Syfe Trade – Great Choice for Low-Risk Investors
Syfe Trade stands out as one of Singapore’s most cost-effective online brokerages. It offers at least five free trades monthly and provides a user-friendly platform that prioritises safety and efficiency.
Besides, Syfe Trade is well regulated by the Monetary Authority of Singapore and was recognised as the best digital advisory solution in 2021.
Minimum initial funding: none.
Standout Services or Expertise:
- With a straightforward fee structure and a commission rate of just 0.06% on over 10,000 US ETFs and stocks, it ensures cost-effectiveness.
- If you become a registered user, you can enjoy a welcome gift of up to S$200 and the security of SIPC protection for investments up to S$500,000.
5. SAXO Markets – Best for Seasoned Investors
SAXO Markets offers various portfolios, including ETFs, stocks, bonds, forex, commodities, and Contract for Differences (CFDs).
The platform provides three user-friendly interfaces—SaxotraderGO, SaxoInvestor, and SaxoTraderPRO—for different levels of investment expertise.
Minimum initial funding: none.
Standout Services or Expertise:
- SAXO Markets stands out for its competitive fee structure and diverse account options tailored to investors’ needs.
- It does not charge custody fees and boasts a low minimum commission of S$2 and a trading fee of 0.08% in the Singaporean market.
- For the US market, the minimum commission is S$4, and the trading fee is 0.06%. Lately, they have reduced the minimum commission to S$1.
- The currency conversion cost for the US stocks is 0.25%.
- SAXO offers five account tiers with varying rates for investments, ranging from 0.03% to 0.08%.
- No lock-up periods, and investors can access an extensive selection of over 6,400 ETFs and 22,000 stocks across global exchanges through SAXO’s platforms.
6. CGS-CIMB – Best for Forex and Equities Trading
CGS-CIMB is a reputable financial company and brokerage established in 2005, offering a wide range of services across various markets.
Minimum initial funding: S$2,000.
Standout Services or Expertise:
- CGS-CIMB specialises in forex and equities trading, providing access to hundreds of assets in Singapore and nine other major countries worldwide through its proprietary trading platform.
- The brokerage offers a secure infrastructure regulated by MAS in Singapore, ensuring the highest safety standards.
- With multiple account types available, including cash upfront and margin trading accounts, traders can access over 800 stocks, ETFs, bonds, and other assets.
- CGS-CIMB offers excellent trading platforms such as MT4 and iTrade, featuring more than 70 unique tools and features backed by robust research and education resources.
7. Weibull – Best for Any Investments
Webull was established in 2021 and is regulated by the Monetary Authority of Singapore (MAS). It holds a Capital Markets Services (CMS) Licence under the Securities and Futures Act 2001.
The Webull App offers powerful and user-friendly charting tools, enabling investors to access various investment opportunities, including stocks and ETFs from Hong Kong and the USA.
Minimum initial funding: S$2,000.
Standout Services or Expertise:
- Trading access to a diverse range of stocks and ETFs, free real-time quotes, full extended hours trading, and a 24/7 in-app help centre.
- Weibull’s desktop platform provides users with a customisable and cutting-edge trading experience, complete with real-time streaming data, screeners, analytics, customisable charting, and third-party research.
- The TurboTrader function facilitates swift filtering and trading of equities and options.
- The Price Ladder Trading feature enables traders to view market depth, execute entry orders, and pre-define exits seamlessly from a single interface.
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.
