Best Online Investment Brokerage Accounts in Singapore (2024)

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Webull Singapore

Webull Singapore

SingSaver's Exclusive OfferFeatured
Webull Singapore
0%

Min. Annual Management Fee

S$0.8

Annual Platform Fee

S$0

Min. Deposit

SingSaver's Exclusive Offer:
Get your choice of S$70 cash or S$90 Grab Voucher when you sign up for a Webull account and fund at least S$700 within the promo period. Fund at least S$2,000 to receive S$100 cash or S$140 Grab Voucher. Valid till 3 Mar 2024. T&Cs apply.

Also, get up to USD 5,000 worth of free shares when you subscribe to Moneybull and fund at least USD 2,000 by 01 Apr 2024. Valid till 1 Apr 2024. T&Cs apply.

Also, get up to USD 3,150 transfer-in rewards when you transfer in over USD 5,000 worth of shares and fulfill additional requirements. Valid till 1 Apr 2024. T&Cs apply.

CMC Invest

CMC Invest

SingSaver's Exclusive OfferFeatured
CMC Invest
S$3

Min. Commission Fee

SG Stocks
Enjoy 2 monthly commission-free trades in SG
S$0

Annual Platform Fee

S$0

Min. Deposit

SingSaver's Exclusive Offer:
Receive S$20 cash via PayNow when you open a CMC Invest account. Also receive an additional S$60 cash rebate when you fund at least S$500 and make 2 trades. Valid till 3 Mar 2024. T&Cs apply.

In addition, receive 1 Nike share (NYSE:NKE) and/or 1 Tesla Inc. share (NASDAQ:TSLA) when you fund and trade with your CMC Invest account. T&Cs apply.

Tiger Brokers

Tiger Brokers

SingSaver's Exclusive OfferFeatured
Tiger Brokers
S$0

Min. Commission Fee

SG Stocks
No minimum fees required for each trade on the SGX
US$0

Min. Commission Fee

US Stocks
No minimum fees required for each trade made on US markets
S$0

Min. Deposit

Start trading with no upfront deposit required
SingSaver's Exclusive Offer:
Receive S$40 Grab Vouchers when you open a Tiger Brokers account and fund any amount. Get an additional S$90 Grab Vouchers (S$130 total) when you fund USD 1,000. Valid till 3 Mar 2024. T&Cs apply.

Also get up to USD 888 worth of rewards, 8% p.a. bonus interest, and 3 months SGX LV2 advanced quotes when you deposit and trade with your Tiger Brokers account. Valid till 31 Mar 2024. T&Cs apply.

moomoo SG

moomoo SG

SingSaver's Exclusive OfferFeatured
moomoo SG
S$0

Min. Commission Fee

No minimum fees required for each trade on US or HK markets
S$0

Min. Deposit

Start trading with no upfront deposit required
0.6

Min. Spread

USD EUR
SingSaver's Exclusive Offer:
Receive a S$50 Grab Voucher when you open a moomoo universal account and fund a minimum of S$100. Valid till 3 Mar 2024. T&Cs apply.

Also, get up to S$880 worth in rewards and up to 6.8%^ p.a. returns when you complete additional actions with your Moomoo account. Valid till 1 April 2024. T&Cs apply.

City Index

City Index

Welcome GiftFeatured
City Index
S$8

Min. Commission Fee

Minimum fee of $8 required for each trade
0.5

Min. Spread

USD EUR
Minimum difference of 0.5 chargeable between bid (actual) and ask (buy) prices
0.08%

Min. Trading Fee

Minimum 0.08% fee (of total trading volume) incurred for each trade on the SGX
Welcome Gift:
Get 50% cashback on spread or commission on any applicable trades within 60 days of account opening and receive up to S$888 cash rebates. Valid till 29 Feb 2024. T&Cs apply.

IG

IG

Welcome GiftFeatured
IG
S$10

Min. Commission Fee

Minimum S$15 fee required for each trade
0.6

Min. Spread

USD EUR
Minimum difference of 0.6 chargeable between bid (actual) and ask (buy) prices
0.1%

Min. Trading Fee

Minimum 0.1% fee (of total trading volume) required for each trade made
Welcome Gift:
Open an account with IG Singapore and receive up to S$150 in rebates on spread or commission for the first 2 calendar months of your account being active. Valid till 29 Feb 2024. T&Cs apply.
CMC Markets

CMC Markets

Popular
CMC Markets
S$10

Min. Commission Fee

Minimum fee of $10 required for each trade
0.5

Min. Spread

USD EUR
Minimum difference of 0.3 chargeable between bid (actual) and ask (buy) prices
0%

Min. Trading Fee

Minimum 0.10% fee (of total trading volume) incurred for each trade on the SGX
OANDA

OANDA

Welcome Gift
OANDA
S$50

Min. Commission Fee

No fees required for each trade
0.6

Min. Spread

USD EUR
Minimum difference of 0.6 chargeable between bid (actual) and ask (buy) prices
0%

Min. Trading Fee

No fees required for each trade
Welcome Gift:
Get up to S$888 cash when you open an account with OANDA and meet the deposit and trading requirements within 60 days of deposit. Valid till 29 Feb 2024. T&Cs apply.

Saxo Markets

Saxo Markets

Popular
Saxo Markets
S$1

Min. Commission Fee

SG Stocks
Minimum S$1 fee required for each trade made on SG markets
US$0.25

Min. Commission Fee

US Stocks
Minimum US$0.25 fee required for each trade made on US markets
S$0

Min. Deposit

S$0
Interactive Brokers

Interactive Brokers

Interactive Brokers
S$2.5

Min. Commission Fee

SG Stocks
Minimum S$2.50 fee required for each trade on the SGX
US$1

Min. Commission Fee

US Stocks
Minimum US$1 fee required for each trade on the US markets
S$0

Min. Deposit

Start trading with no upfront deposit required

SingSaver Explains: Investments

With so many types of Investments available, it can get a little confusing. Here’s all the information you need about Investments to make smarter financial decisions.

What is an online brokerage?

An online brokerage facilitates the buying and selling of a financial instrument. You will need a brokerage account to buy and sell investment products, be it on the Singapore Exchange or in overseas markets. The products include equities, fixed income products, Exchange Traded Funds (ETFs) and more.

How does an online brokerage work?

The online brokerage will execute your buy or sell transaction on the financial markets, based on your selection and inputs within their brokerage platform. This is done for a fee or commission. Unlike a Central Depository (CDP) account, you can open multiple brokerage accounts with different brokerage firms.

Types of online brokerage accounts for your investments

In Singapore, you can choose between a CDP-linked account or a custodian account. CDP-linked accounts are an option if you are purchasing Singapore stocks. A custodian account can be referred to as a pre-funded or cash upfront account. You have to use a custodian account if you are buying or selling overseas stocks.

Compare the pros and cons of a CDP-linked vs custodian account here.

Online brokerage fees

You will incur a trading fee when you use an online brokerage account, which ranges from 0.08% to 0.275% per trade. CDP-linked brokerage accounts offer lower trading fees for larger trade sizes. If you are trading a small amount, do keep in mind that brokerages could impose a minimum commission fee of S$10 to S$25.

Custodian accounts have lower trading fees and minimum commission fees. However, you could incur an additional custodian fee or platform fee.

Best online brokerages in Singapore

What constitutes the best online brokerage depends on your investment decisions and personal preference. Are you looking to buy stocks listed on the Singapore Exchange or on overseas markets? How often do you plan to trade?

To help you with your decision, you can check out this article on the best brokerage accounts in Singapore.

Need some help with online brokerages?
No worries, we've got you covered!
What are some products I can invest in with an online brokerage?

Depending on the online brokerage account you open, products available for you to trade include:

  • Stocks
  • Exchange Traded Funds (ETFs)
  • Bonds
  • CFDs
  • Indices
  • Forex
  • Commodities
  • Derivatives
How to choose the right online brokerage platform for investment?

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’s best to use a CDP-linked account so that your holdings are consolidated in your CDP account and you avoid paying any custodian fees – they can stack up.


Read this article on the best brokerage accounts in Singapore for more details.
What is the difference between stocks and contract for difference (CFD)?

When you purchase stocks, you have to take ownership of the stocks, be it in your custodian or CDP account. When you trade a CFD, you do not own the underlying shares. Rather, you speculate on the share price by buying a contract between you and the CFD provider.

When trading CFDs, you also enjoy the use of leverage whereby you do not have to fork out the full market value of the share to make the trade.

How to choose the best brokerage firm?

You can choose a brokerage firm based on factors such as:

  • Fees
  • Investment products available
  • Market access
  • Perks given through promotions
  • Tools and indicators provided
  • Investment insights and educational materials available
  • Platform interface and user experience
What are the different investment strategies you can employ when using an online brokerage?

There are many different investing strategies which point towards different financial goals and appeal to different risk appetites. For example, some investors invest for capital gains while others might focus on building a dividend income stream.

An important factor is to understand whether you are investing for the short or long term as this would affect your investment horizon. One underlying investment strategy is to focus on time in the market, to start investing as early as possible and to stay invested despite market volatility.

Confused about Online Brokerage terms?

Glossary terms to know for first-time online brokerage users

SingSaver

© 2015 - 2024 SingSaver PTE LTD. All rights reserved. This online platform is operated by SingSaver Pte. Ltd. and by continuing to use www.singsaver.com.sg (the “SingSaver Website”) or by carrying out a transaction on the SingSaver Website, users are deemed to have agreed with the Terms and Conditions and Privacy Policy of the SingSaver Website. All insurance product-related transactions on the SingSaver Website are arranged and administered by SingSaver Insurance Brokers Pte. Ltd., a wholly owned subsidiary of SingSaver Pte. Ltd. SingSaver Insurance Brokers Pte. Ltd. is a licensed and authorised broker regulated by the Monetary Authority of Singapore (“MAS”). SingSaver Pte. Ltd. (which administers all other financial products on the SingSaver Website) is not regulated by MAS. SingSaver is located at Eon Shenton, 70 Shenton Way, 18-08, Singapore, 079118.

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