Best Brokerage Accounts for Online Stock Trading
Updated: 14 Jul 2025
Product Name | Hot Reward Pick | SingSaver Reward | Min. Commission Fee (SG Stocks) | Min. Deposit | |||
|---|---|---|---|---|---|---|---|
 | Webull Singapore | S$1,941 | S$0 * | S$2,000 | |||
 | moomoo SG | S$1,269 | S$0 | S$2,000 | |||
 | Tiger Brokers | S$1,149 | S$0.99 | US$1,000 | |||
 | Longbridge | S$1,019 | S$0 | S$2,000 | |||
 | CMC Invest | S$742 | S$2 | S$0 | |||
 | CMC Markets | S$929 | S$10 | 0 | |||
 | Saxo Markets | S$150 | S$3 | S$2,000 | |||
 | OANDA | - | - | S$50 | 0 | ||
 | Interactive Brokers | - | - | S$2.5 | S$0 | ||
 | Revolut Stocks | - | - | S$0.99 | S$0 | ||
 | HSBC Everyday Global Account | - | - | S$10 | S$0 | ||
 | ProsperUs by CGS-CIMB | - | - | S$0 | S$0 | ||
 | Endowus | - | - | S$0 | S$1,000 | ||
 | Stashaway | - | S$1,300 | S$0 | S$6,000 | ||
 | POEMS | - | - | S$0 | S$0 | ||
 | DBS digiPortfolio | - | - | S$0 | S$1,000 | ||
 | Maybank Securities | - | - | S$25 | S$0 | ||
 | MoneyOwl | - | - | S$0 | S$50 | ||
 | Plus500 | S$1,226 | S$0 | S$500 |
- One-stop investment hub for US, SG, HK, and China-A markets
- Diverse tradable products: Stocks, ETFs, Options, Mutual Funds, Bonds, REITs & more
- Transparent, competitive pricing: 0 platform fees on US/HK/China-A trades, USD0.90*/order for US Stocks, USD0.55/contract for US Options, and 0 commission* on SG Stocks.
- Clean and intuitive platform that lets you act on opportunities instantly
- Smart tools and clear signals with insights that count
- 24-hour US trading to seize opportunities anytime
- Fractional shares trading available from as low as USD5
- Earn up to 4.18%^ 7-Day USD yield (p.a.) on your idle cash with Moneybull
- Dynamic and Fixed Regular Savings Plan (RSP) for recurring US stock, ETF, and mutual fund investing
- 24/5 live customer service on trading days (Instant message, email, and hotline)
- Fast account opening, deposits and withdrawals.
- Tap into the Global Webull community with 50+ million downloads in 14 operating markets
- A leading Nasdaq-listed broker, Licensed and Regulated by MAS.
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- All-in-one investment platform
- 0 commission, 0 platform fee for forex trading
- Segregated client accounts--this ensures your money stays protected no matter what happens to the company
- Fast and stable trading environment
- Tight, ultra-thin spread
- Dedicated customer service
- Regulated by MAS
- Read our full review of moomoo
- Platform fees apply for every trade
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Commission-free trades on US, HK, SG and China A stocks
- US Fractional Shares available
- Supports auto-invest in US stocks and ETF
- In-app community of millions of global investors
- Real-time market data and detailed analysis to make informed decisions
- Instant account opening as well as 24/7 support
- Licensed by Monetary Authority of Singapore (MAS)
- Read our full review of Tiger Brokers
- Platform fees apply for every trade
- Min. fee amount also applies for equities trades made on SEHK and HKEx
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Lifetime commission-free trading for US, SG and HK stocks
- Supports stocks, REITs, ETFs, HK warrants, CBBCs, US options, and mutual funds across the SG, US, and HK markets
- Enjoy free access to HKEX and SGX real-time Level 1 quotes
- Offers 24-hour trading in the U.S. markets
- Open a trading account in just 3 minutes via MyInfo with Singpass
- Licensed by the Monetary Authority of Singapore (MAS)
- Mobile, web, and desktop trading platforms available
- Platform fees apply for every trade
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Complimentary upgrade to ‘Invest’ tier for 12 months: 45 free monthly trades in SG, US, UK, CA and HK and free live US & SG market data
- Access to thousands of shares, REITs and ETFs across 15 markets
- Access to Sustainalytics ESG Risk Ratings feature
- Customisable reports widgets such as watchlist
- Seamless investing – available desktop, mobile and tablet
- TradingView charting package
- Easy sign up via SingPass
- No platform, custody, settlement and inactivity fees
- Safety and segregation of cash and securities with JP Morgan and BNP Paribas, respectively
- No trading and transaction tax for HK stocks (waived off by CMC Invest)
- Free Matcha upon sign-up. (T&Cs apply)
CMC Invest provides an execution-only service. Investments carry risks and may not suit everyone. Refer to T&Cs & Risk Disclosures on www.cmcinvest.sg. SingSaver is a paid affiliate marketing partner of CMC Invest and may receive compensation from CMC Invest and the other brands providing the offers or services appearing on this website. Singsaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products, or offers. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Extensive range of product catalog where clients are able to trade up to 12,000 instruments
- Access to award winning trading platforms with rich, highly customisable features such as an advanced order panel
- No withdrawal fees
- No min. deposit required
- Free demo account available for practice
- Min. commission fee of S$10
CMC Markets Singapore Pte. Ltd. Co. Reg. No./UEN 200605050E ("CMC Markets"). Regulated by the Monetary Authority of Singapore (CMSL No: 100063). See risk warning/disclosures and other important information (including the applicable terms of business) at our website: Home. Singsaver is our paid affiliate marketing partner.
The Information provided is not to be regarded as an offer, a solicitation or an invitation to deal in any investment product or an advice or a recommendation with respect to any investment product, and does not have regard to the specific investment objectives, financial situation and particular needs. Contracts for Difference (“CFDs”) are leveraged products and carry a high level of risk to your capital as prices may move rapidly against you. Losses can exceed your deposits and you may be required to make further payments. Countdowns carry a level of risk to your capital as you could lose all of your investment. Invest only what you can afford to lose. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- 185+ currency pairs available for Forex traders from 0.4 pips, no commission charged and earn cash rebates `
- Access 8,600+ CFDs with tight spreads, low commission and cash rebates
- Demo account available for practice or experimentation
- No inactivity fee levied
- SaxoTraderPRO available for advanced investors who require a more comprehensive platform
- Read our full review of Saxo Markets
- Annual custody fee of up to 0.12% charged for accounts with Stocks, ETFs/ETCs or Bond positions opted out of Securities lending. No custody fee for account plans opted into Securities Lending. Learn more here.
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Trade over 70 FX pairs, starting at 0.6 pips
- Trading Products: CFDs in FX, Indices, Metals, Commodities, and Bonds
- Rate ® data currency calculator: See real-time rates for major FX pairs (also comes with 25 years' of historical data across 38,000 FX pairs)
- fxTrade platform is available for web, desktop, and mobile
- MetaTrader4 (MT4) platform available
- Analyse price trends with candlesticks charts that refresh every 5 seconds
- Convenient depositing of funds into OANDA account with PayNow
- Read our full review of Oanda
- Currency conversion fee: 0.5 % mark-up/down on the midpoint price of the applicable currency at the time of conversion
- Inactivity fees apply
- Limited tradable products
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Trading fee begins at 0.08% of trade value for SG stocks, US$0.005 per share for US stocks, 0.11% of trade value for SG share CFDs, 0.005% per share for US share CFDs
- Earn up to USD 4.83% interest on instantly available cash balances
- Two commission fee pricing structures available for stocks, ETFs, and warrants
- SGD 6.003% margin loan rate (up from SGD 5.003%)
- Present in 150 markets in 34 countries and with 27 currencies
- Desktop, web, and mobile platforms available for added flexibility
- No min. deposit required
- Read our full review of Interactive Brokers
- Only one free withdrawal request per calendar month
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Fractional trading for US stocks and ETF starting at S$1 and US$1
- Seamless and user-friendly experience for both new and seasoned investors
- Real-time market data, stock research, stock charts, and even price alerts, market graphs, and global market news
- US stocks only
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HSBC Everyday Global Account
- Receive up to S$600 in cashback and bonus interest every month through the HSBC Everyday+ rewards programme
- Bonus cashback and interest granted by spending on HSBC debit/credit cards, making GIRO bill payments, and increasing account balance
- Sign up using SingPass MyInfo to enjoy a quicker application process
- Global Transfers lets you transfer funds to your other HSBC accounts instantly
- Get real-time exchange rates with HSBC's Online GetRate feature
- S$0 withdrawal fees at HSBC ATMs worldwide except for Argentina, Brazil, France, Greece, and several other nations
- Insured up to S$75,000 by SDIC. Additional T&Cs apply
- Standing instruction fee of S$10 per item
- Fall-below fee of S$5 if average daily balance falls below S$2,000
N/A
- Receive educational insights and guides from ProsperUs
- Enjoy instant access to stocks, bonds, funds, options, FX, futures and many more
- Receive access to over 30 exchanges across 11 markets such as SGX, Bursa, TSE, Amex, NYSE, NASDAQ and LSE
- Fund your account seamlessly with personalised PayNow QR code
- Customised investing dashboards provide you with an easy-to-use interface
N/A
- Currently the only robo-advisor that allows investing via cash, CPF, or SRS funds
- Annual management fees for cash investment portfolios start from 0.25% p.a. and are tiered, not stacked
- Enjoy a fixed annual management fee of 0.4% for CPF & SRS portfolios
- Cash Smart portfolios have a fixed annual management fee of 0.05%
- Access multi-asset ESG (Environmental, Social, and Governance) portfolios
- Get the opportunity to build personalised portfolios via Fund Smart
- Read our full review of Endowus
- Min. deposit of S$1,000
- Larger investment amounts required to enjoy lower fees
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- No min. investment amount and account balance required
- Invest your cash or SRS funds with 3 portfolio types: General Investing, Goal-based Investing, and Income Portfolio
- StashAway Simpleâ„¢ lets you earn a projected rate of 1.4% p.a. on your savings
- Free personal finance courses and events on StashAway academy
- Get access to a term life insurance product, with premiums starting from S$115
- Read our full review of StashAway
- Larger investment amounts required to enjoy lower management fees
- Min. S$10,000 required for Income Portfolio
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Access over 40,000 products across more than 26 global markets, including Singapore, HK, US, China and Germany
- Tradable financial products: Stocks, ETFs, Unit trusts, Bonds, CFDs, Forex, and more
- POEMS Mobile app available for on-the-go trading
- Advanced order types and integrated trading tools to customise your trading activity and dashboard
- Demo account available for practice and experimentation
- Choose between the Cash Plus Account (with margin facility) or Cash Management Account (CDP-linked) when signing up
- Read our full review of POEMS
- Commission fees are subject to a user's account type
- Platform features are better suited for advanced investors
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- All in management fee of 0.75% p.a.
- Top up your portfolio from as low as S$1
- Receive digital financial planning insights with DBS NAV Planner
- Hybrid Human-Robo advisor approach that makes use of automated processes combined with the expertise of DBS Investment Team to manage and optimise the portfolios
- Enjoy seamless experience with transactions all done using the DBS digibank app
- Enjoy bonus interest rates with DBS's Multiplier program
- Minimum investment of S$1,000 to start
The above information is provided by SingSaver.com.sg for information purposes only. In case of any discrepancy between the information provided by SingSaver.com.sg and relevant information provided by banks, card issuers or card providers (*partner institutions), the information provided by the partner institutions shall prevail. For more information, please refer to our Terms & Conditions and Privacy Policy page.
- No min. deposit required
- Enjoy lower brokerage rates if trades are prefunded
- No fees or charges for using the Multi-Currency e-Pay payment service
- Desktop and mobile trading platforms available for added flexibility
- Demo account available for practice or experimentation
- Read our full review of Maybank Securities
- High commission fees at S$25 and US$20
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Invest via a min. S$100 lump sum or monthly payments starting from S$100
- Choose from 5 different portfolio types: Equity, Growth, Balanced, Moderate, and Conservative
- MoneyOwl WiseSaver lets you grow your savings at low risk with high liquidity
- Platform fees absorbed by MoneyOwl
- Read our full review of MoneyOwl
- Only 3 funds from Dimensional Fund Advisors make up the portfolios
- Recommended portfolio can only be viewed after completing a lengthy risk assessment
- Applications from certain nationalities or tax residencies may be excluded
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. This advertisement has not been reviewed by the Monetary Authority of Singapore.
- Trade over 2,000 contracts for difference (CFDs) across a wide range of financial products, such as indices, forex, shares, commodities and more.
- Every instrument gives different TPoints (Trader Points) based on the amount traded.
- No withdrawal and deposit fees
- Free real-time price quotes
- Web and mobile platforms available for added flexibility
- Demo account available for practice and experimentation
- Licensed by MAS
- Singapore's #1 in client satisfaction* By overall satisfaction, Investment Trends 2023 Singapore Leverage Trading Report
- Monthly fee of US$10 after 3 months of inactivity
- Guaranteed stop order type is subjected to a wider spread
- Overnight funding and currency conversion fees apply
In providing the above information, SingSaver is carrying out introducing activities on behalf of financial advisers. SingSaver is not to be construed as in any way engaging or being involved in the distribution or sale of any financial product or assuming any risk or undertaking any liability in respect of any financial product. Neither singsaver.com.sg or the content on it is intended as securities brokerage or investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on singsaver.com.sg is for general information purposes only and does not review or include all available companies, products or offers. SingSaver may receive compensation from the brands providing the offers or services appearing on this website. Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for some investors. Please ensure you fully understand the risks involved. The listed provider is licensed and regulated by the Monetary Authority of Singapore. This advertisement has not been reviewed by the Monetary Authority of Singapore.
Choosing the right online brokerage account is key to successful stock trading in Singapore. The ideal brokerage offers fast trade execution, low or no commissions, user-friendly platforms, and responsive customer service.
Moreover, a robust platform with free investment research and a wide selection of investment options also adds value to an investor's overall experience, ensuring that both beginners and experienced traders can optimise their strategies.
At SingSaver, we feature a range of brokerage firms to suit different trading needs. For beginners, platforms like Robinhood and Webull offer simple, intuitive interfaces and low fees, making them ideal for those new to stock trading.
For seasoned traders, firms like Tiger Brokers, and Longbridge provide advanced tools and research resources for more sophisticated strategies. These platforms are designed for investors who need powerful execution and in-depth analysis.
Moomoo stands out as a well-rounded option, offering a comprehensive platform that appeals to both beginners and experienced traders with its mix of ease of use and advanced features. These options ensure that investors in Singapore can find a brokerage that aligns with their unique goals.
How do we evaluate and choose the best brokerage accounts?
At SingSaver, we are committed to providing our users with a comprehensive and unbiased review of online brokerage accounts. To help you choose the best option for stock trading, we follow a detailed and thorough evaluation process, considering a wide range of factors to ensure that each featured brokerage offers the best possible experience for investors in Singapore.
Our selection process starts with a deep dive into the core aspects that matter most to traders: fees, platform usability, investment options, customer service, and regulatory compliance.
Finding the ideal online broker for you
To choose the best online broker for your needs, here are the key factors to consider:
Commission fees
Most online brokers today have eliminated commissions or trading fees for stock trades, making it easier and more affordable for investors to buy stocks as well as sell them. However, commissions can still apply to other types of trades, such as stock options.
For options trades, brokers often charge a per-contract fee. If you’re an options trader, it's important to compare these fees across brokers, as some have completely removed the contract fee. Brokers who offer low or no fees for options trading can provide significant savings over time, especially for active traders.
When choosing a broker, consider how often you plan to trade options and whether the commission structure aligns with your trading style and frequency. For those focused primarily on stock options, it's worth checking out brokers who specialise in options trading, as they may offer more competitive pricing and additional resources.
Brokerage account fees
When selecting a broker, it’s important to consider the full range of account fees that may apply beyond just trading commissions. Many brokers charge various types of fees, including commission fees, inactivity fees, platform fees, and more.
When choosing a broker, it's crucial to understand how these fees could impact your investment returns, especially over the long term. If you're an active trader, you may want to prioritise brokers with lower commissions or tiered pricing to reward higher volumes.
For long-term investors, it’s important to check for custody or account maintenance fees that can accumulate and erode returns over time. Consider these factors carefully to avoid unexpected charges that could diminish your investment gains.
Market access
When choosing an online broker, consider the markets and asset classes you want to invest in. If you're focused on Singapore stocks, ensure the broker provides access to the Singapore Exchange (SGX). Alternatively, if you’re interested in diversifying your portfolio with international markets like the US or Hong Kong, confirm that the broker offers access to those exchanges as well.
Additionally, many brokers offer fractional shares, which allow you to invest in portions of high-priced stocks, making them more accessible to smaller investors. This feature is particularly beneficial for those looking to invest in well-known, expensive stocks but with a limited budget.
>> Learn more about Brokerage Fees And Other ‘Hidden Fees’ To Know When Investing In Singapore
Execution quality
Execution quality refers to how efficiently and accurately a broker can execute your orders in the market. For most casual traders, differences in execution quality are generally minor, especially when making fewer trades. However, for active traders who trade large volumes of shares frequently, execution quality becomes much more important.
A high-quality execution ensures that orders are filled at favourable prices, minimising slippage and enhancing overall trading performance. When reviewing brokers, we focus on the broker's self-reported execution quality, which is often measured by the percentage of orders executed at or better than the National Best Bid and Offer (NBBO).
The NBBO represents the best available price at any given time across all exchanges. Brokers with higher execution quality typically provide better price fills and faster order execution, which is critical for those looking to make frequent, large trades. If you're an active trader, it's essential to consider execution quality to optimise your trading outcomes.
Tools and indicators
For new investors, having access to solid educational resources is essential to building confidence and making informed decisions. Look for brokers that offer a range of free materials, such as live webinars, how-to guides, video tutorials, and glossaries.
Additionally, if you're interested in more advanced strategies, consider brokers that offer clear guidance on risk management, such as access to an on-call customer support team or live chat. This will ensure you fully understand the products and strategies you’re using.
For active traders, having access to powerful tools and research materials is equally important. Many brokers provide customisable platforms with advanced charting tools, market data, and technical indicators that can help you analyse trends and make better decisions.
If you're an experienced trader, you may also benefit from premium research resources, including analyst reports and in-depth market analysis, although these may come with an additional cost. Be mindful not to overpay for tools you don’t need.
Besides these, the user interface (UI) and experience (UX) of a trading platform are crucial for successful trading. A well-designed, intuitive platform allows you to trade quickly and efficiently, whether it's web-based, mobile, or desktop.
Interest rate on uninvested cash
Even with your investments carefully selected, idle cash in your brokerage account, such as from dividend payments, can accumulate over time. It’s important to consider the interest rate your broker offers on this uninvested cash, as some brokerage firms in Singapore provide competitive rates.
However, finding this information can be challenging, as many brokers don’t openly disclose their interest rates. In fact, some may bury the rate in the fine print, particularly if the rate is low or nonexistent. To find this information for common brokers in Singapore, you can check the account details or FAQs on their website.
Some brokers may also disclose these rates through account statements or investor communications, so it's worth reviewing those documents as well.
Trustworthiness
When choosing an online broker, reliability is a crucial factor to consider, as you want to ensure your funds and trades are secure. Brokers are regulated by the Monetary Authority of Singapore (MAS), which ensures they adhere to strict financial regulations and maintain a high standard of operations.
While there are both well-established firms with decades of experience and newer entrants into the market, reliability is something you shouldn't overlook. Established brokers are generally considered more reliable due to their proven track record in various market conditions.
However, newer brokers in Singapore can still be trusted as long as they are regulated by MAS. While they may be untested in certain market scenarios, many of them offer competitive features and services. For investors seeking a straightforward, no-frills investment account, newer, streamlined apps or brokers can be a suitable choice.
On the other hand, if you prefer the security and stability of a long-established institution, it may be worth choosing a larger, more established brokerage.
Account type and minimum deposit
When selecting an online broker, it's important to consider the various account types offered, each with its own features and minimum deposit requirements. Different brokers cater to different types of investors.
Some provide basic accounts with low minimum deposit thresholds for casual investors, while others target active traders with premium accounts that come with higher deposit requirements. The type of account you choose should align with your investment goals and the level of service needed.
Sign-up promotions
Many online brokers offer sign-up promotions to attract new customers, such as cash bonuses for meeting certain deposit thresholds or free trades for a limited time. While these promotions can be tempting, it's important not to let them be the primary factor in your decision-making process. A high commission or hidden fees over time can easily outweigh any initial bonus or savings.
However, if you're deciding between two otherwise similar brokers, a promotion could serve as a useful tie-breaker to help you make your final choice. Just remember to consider the long-term value and costs associated with each broker before making your decision.
>> Level up your portfolio: View the best brokerage promotions right now
Saver-savvy tip
Some investors prefer sticking with well-known brokerage firms, as these brands offer various services that meet the needs of most traders. In fact, many of our team members have accounts with one of these brokers.
However, if you’re looking for a particular feature — such as mobile trading or a simple, beginner-friendly user interface — it might be worth exploring other options like Moomoo. Additionally, it’s perfectly fine to have multiple brokerage accounts for different purposes if that works best for you.
How to switch online brokers?
Switching to a new online broker is a straightforward process that can typically be done entirely online. Here’s a simple four-step guide to help you make the transition:
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Start by finding your most recent brokerage account statement. Next, open an account with your new broker, which you can do online. During the sign-up process, you’ll be asked for basic details such as your date of birth, address income, and others.
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Once your new account is set up, log in to it and start an ACAT (Automated Customer Account Transfer), where you'll provide your old account number and other relevant details.
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The new broker will confirm whether your investments can be transferred in-kind (without needing to sell). This typically applies to stocks, ETFs, and mutual funds. If some of your investments aren’t supported, you can sell them and transfer the cash instead.
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The transfer process can take anywhere between five and seven days. Once completed, you’ll be notified and ready to begin trading with your new account.
Saver-savvy tip
When switching brokerage accounts, make sure that your new account type matches your old one. For example, a taxable brokerage account should be transferred to another taxable brokerage account.
Frequently asked questions about brokerage accounts
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Stocks: Shares of ownership in publicly listed companies.
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ETFs: Baskets of securities that track a specific index, sector, or commodity.
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Bonds: Debt securities issued by governments or corporations.
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CFDs: Contracts for Difference allow you to speculate on price movements without owning the underlying asset.
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Indices: Benchmark indicators representing a group of securities, like the Straits Times Index (STI).
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Forex: Foreign exchange involves the trading of currencies.
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Commodities: Raw materials such as gold, oil, and agricultural products.
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Derivatives: Financial contracts that derive their value from an underlying asset.
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Dollar-cost averaging (DCA): This strategy involves investing a fixed amount of money at regular intervals, regardless of market fluctuations. DCA helps to average out your purchase price over time, reducing the risk of buying high and selling low. It's a popular approach for long-term investors who want to minimise emotional decision-making.
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Dividend investing: Focuses on building a portfolio of stocks that pay dividends, providing a regular stream of passive income. Dividend investing is often favoured by investors seeking income generation and long-term growth potential.
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Growth investing: This strategy involves investing in companies with high growth potential, often in sectors like technology or healthcare. Growth investors seek capital appreciation by identifying companies that are expected to outperform the market.
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Value investing: Value investors look for undervalued companies with strong fundamentals that the market may have overlooked. They aim to buy these companies at a discount and hold them for the long term, anticipating their price will eventually reflect their true value.
A brokerage account is an investment account that lets you buy and sell securities like mutual funds, stocks, bonds, and exchange traded funds. It’s offered by brokerage firms, providing access to financial markets. Users can manage their investments, monitor performance, and execute trades through the account.
In Singapore, you must be at least 18 years old to open an online brokerage account and start investing.
Online brokerages offer a diverse range of investment products to suit different needs and risk appetites. Depending on the broker you choose, you can invest in:
When choosing an online brokerage account, consider factors like brokerage fees and commissions, market access, execution quality, tools, and research resources. Evaluate whether the broker aligns with your trading style, offers educational support, and meets your investment goals. Also, check for interest rates on uninvested cash and reliability.
The minimum deposit required to open an account at an online broker varies by platform. Some brokers have no minimum deposit, while others may require a few hundred to several thousand dollars.
This would depend on your risk appetite, investment horizon and financial goals. If you have plans to make frequent trades, you can consider a brokerage that offers the lowest fees in order for you to incur lower costs with each trade.
If you have plans to hold the stocks for the long term, it may be best to use a CDP-linked account so that your holdings are consolidated in your CDP account and you avoid paying any custodian fees.
A full-service broker offers personalised advice, financial planning, and research, often for higher fees. An online broker provides self-directed trading with lower fees and fewer personalised services. The better option depends on your needs, choose a full-service broker for guidance or an online broker for lower costs and more control.
The cheapest broker isn't always the best. While low trading costs benefit active traders, other factors like access to diverse investments, quality research, and platform features are crucial. Some brokers offer commission-free trades, but evaluating the overall experience and services is key to finding the best fit for your needs.
Yes, your money is insured, but only in the event a brokerage firm or investment company fails. Insurance typically covers cash balances up to a certain limit.
After opening your brokerage account, you'll need to fund it, which usually takes a few days. Transfers from another brokerage may take longer. However, many brokers allow you to start trading before your deposit fully clears, providing flexibility to begin investing right away.
Yes, you can typically transfer your investments from one brokerage to another. This process is known as a "brokerage transfer" or "account transfer." However, there might be associated fees and paperwork involved, so it's best to check with both brokerages for specific instructions and costs.
Common strategies to consider include:
These are just a few examples, and there are many other investment strategies you can explore. It's essential to research and understand different approaches to find the ones that best align with your individual circumstances and investment objectives.
In Singapore, there are generally no capital gains taxes on profits from investments. However, you might incur dividend taxes or withholding taxes on foreign investments, depending on the country and your tax residency status. It's advisable to consult with a tax advisor for personalised guidance on tax implications related to your investments.