Best Online Investment Brokerage Accounts in Singapore [2024]

FILTER
All markets
πŸ‡ΈπŸ‡¬ Singapore stocks
πŸ‡ΊπŸ‡Έ US stocks
πŸ‡­πŸ‡° HK stocks
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Moomoo
Enjoy up to 30 days of 6.8% p.a. guaranteed returns, and get up to US$523 worth of stock bundle fractional shares.
Requirements:
For SGD70 stock bundle x1
- Deposit min. S$3,000
- Perform (3) buy trades
For additional SGD70 stock bundle Γ—3
- Deposit min. S$10,000
- Perform (8) buy trades
For additional AAPL share:
- Deposit min. S$100,000
*Stock bundle consists of 5 fractional shares: 0.01 NVDA, 0.05 TSLA, 0.05 AAPL, 0.2 SE, 1.7 NIO.
SG stocks
0.06% - min fee SGD1.98
US stocks
USD0.99 per trade
HK stocks
0.03% - min fee HKD18
Low fees for SG, US, and HK stocks
  • Very competitive fees across Singapore, US, and HK markets.
  • Offers competitive cash parking solution via Moomoo Cash Plus.
  • Attractive signup bonuses.
Webull
SG stocks
0.05% - min fee SGD1.6
US stocks
0.025% - min fee USD0.5
HK stocks
0.03% - min fee HKD12
Lowest fees for SG, US, and HK stocks
  • Very competitive fees across Singapore, US, and HK markets.
  • Offers competitive cash parking solution via Webull Moneybull.
  • Attractive signup bonuses.
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Tiger Brokers
Receive rewards up to USD3,600.
Requirements:
Deposit accumulated of >= SGD1,000 and complete 3 new BUY trades to receive one attempt to a sure-win draw worth USD20-600.
Deposit accumulated of >= SGD5,000 and complete 5 new BUY trades to receive 3 attempts to a sure-win draw worth USD60-1,800.
Deposit accumulated of >= SGD10,000 and complete 5 new BUY trades to receive 6 attempts to a sure-win draw worth USD120-3,600.
SG stocks
0.06% - min fee SGD1.99
US stocks
USD0.01 per share - min fee USD1.99
HK stocks
0.06% - min fee HKD15
Low fees for SG and HK stocks
  • Very competitive fees across Singapore and HK markets.
  • Offers competitive cash parking solution via Tiger Vault.
  • Attractive signup bonuses.
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POEMS
Get one month of unlimited commission fee for US trades. Also, receive 1000 POEMS reward points.
Requirement: Opt-in to Excess Funds Management (SMART Park) and fund at least S$3000 to the Account within seven days of account opening (without withdrawing the funds for 30 days).
SG stocks
0.08%
US stocks
USD3.88 per trade
HK stocks
0.08% - min fee HKD30
Best for investing SRS
Use CPF
Use SRS
Use CDP
  • Competitive fees for investing with SRS via POEMS Cash Plus account.
  • Supports CPF, SRS, and CDP-linked accounts.
FSMOne - Fundsupermart
SG stocks
SGD8.8 per trade
US stocks
0.08% - min fee USD3.8
HK stocks
0.08% - min fee HKD50
Best for CDP-linked account
Use CPF
Use SRS
Use CDP
  • Competitive fees for investing with CDP account.
  • Allows CPF and SRS investing.
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Interactive Brokers
Earn up to USD 1,000 in Interactive Brokers stock (NASDAQ: IBKR)
SG stocks
0.08% - min fee SGD2.5
US stocks
USD0.0035 per share - min fee USD0.35
HK stocks
0.05% - min fee HKD18
Low fees for US and HK stocks
  • Very competitive fees for US and HK markets.
  • Earn attractive yield on your idle cash.
  • Access to worldwide stock markets, such as London, Australia, Japan, etc.
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Syfe
Get a fee waiver for 3 - 6 months.
Requirement: First deposit of at least $2,000.
SG stocks
0.06% - min fee SGD1.98
US stocks
USD1.49 per trade
Two free trades per month for US stocks.
Saxo
SG stocks
0.08% - min fee SGD5
US stocks
0.06% - min fee USD2
HK stocks
0.15% - min fee HKD90
Access to worldwide stock markets, such as London, Australia, Japan, Malaysia, China, etc.

 

Note regarding the list of the best online brokerage accounts in Singapore above:

  • Although we always strive to provide up-to-date data, we do not guarantee the accuracy of the data presented above. Please check directly from the relevant brokerage website to get the latest data.
  • We may use referral links to offer promotional benefits to our readers. We may receive commissions if you sign up through our referral links.

 

What Does the List Above Show?

The list above compiles some of the best online brokerages in Singapore and their fees/commissions, market access, and supported funding sources (CPF, SRS, CDP).

Online brokerage platform allows investors to buy and sell financial instruments, such as stocks, ETFs, REITs, commodities, etc. Before choosing the platform, please review the considerations below to see which brokerage platform suits you best.

 

How to Choose the Best Online Brokerage in Singapore?

Here are several key factors to consider when choosing your online investment brokerage platform:

MAS-Licensed

In our opinion, safety is paramount. We want to use brokerage platforms licensed by the Money Authority of Singapore (MAS) to ensure they follow the regulations here in Singapore. You can check the license directly from the MAS website to make sure your preferred brokerage platform has an active license with MAS.

By choosing brokers regulated by MAS, there should be a segregation between client and company assets. This is crucial because your assets are safe from creditors in the event of bankruptcy. You can then withdraw or transfer your assets to other brokers.

That said, you can also use brokers licensed in other countries where they are based. For example, in the United States, a broker must be licensed to operate and provide investor protection as required by regulation. Conduct your own due diligence to ensure that the company is a regulated entity. Make sure that there are some protections in place for investors as clients.

Low Fees

Your brokerage platform charges you fees when you perform any buy or sell trade. We want to ensure that the fees are low. Pay attention to minimum fees for those investing small amounts, as the minimum fees will likely apply to small trades. For those trading large amounts, you want to find those with fixed fees instead of fees based on a percentage of the trade value.

Additionally, you want to look at other fees, such as custodian fees, which the brokers may charge for holding/safe-keeping your assets.

For example, a broker that charges 0.08% of trade value with a minimum fee of $1.98.

  • If you trade a small amount worth $500, your fee will be the maximum of 0.08%*$500 = $0.4 or $1.98. In this case, the broker will charge you $1.98.
  • On the other hand, if you trade a more considerable amount of $20,000, the fee will be the maximum of 0.08%*$20,000 = $16 or $1.98. Here, the broker will charge you $16. If you trade a significant amount in most cases, you may want to look at those who charge a fixed fee.

Market Access

Different brokers will have access to different markets. If you want to trade in a specific market, such as the US market, you need to check if the broker you want to use has access to the US market. In the list above, you can use the filter function to filter the brokers with access to a specific market.

For example, a usually overlooked market is the London stock market. Investors who want exposure to the US stock market may want to consider those ETFs listed in the London stock market for dividend tax withholding preference.

Product Access

Most investors trade stocks, ETFs, or bonds, but sophisticated investors may require access to derivative instruments like options and CFDs. You must find a broker supporting this derivative trading if you are one of them.

Supported Funding Sources

In Singapore, we can use our CPF and SRS accounts as funding sources in addition to cash, which all brokers support. If you plan to invest your CPF or SRS money, you need to find brokers that support investing using CPF or SRS money. In our list above, we have added special tags to those brokers that support these additional funding sources.

CDP-Linked vs Custodian Accounts

This is relevant if you plan to invest in stocks listed on the Singapore Exchange (SGX). Generally, there are two brokerage account types: CDP-linked and Custodian accounts.

With the CDP-linked account, the stocks are purchased in your name and stored in your CDP account. You are the company shareholder.

With the Custodian account, the stock ownership will be through your broker. Your broker will hold your stocks in the CDP on your behalf while you remain the beneficial owner.

Custodian accounts usually offer more competitive fees compared to CDP-linked accounts.

 

How to Open and Fund the Brokerage Account?

Start by choosing a broker from the list of the best online brokerage accounts in Singapore above and find one that suits you best. You need to decide whether to get the CDP-linked or Custodian accounts. You can then proceed with the signup process. For a Custodian account, the process should be straightforward. For CDP-linked accounts, you need to have a CDP account. Some brokers can assist you in opening the CDP account. Otherwise, you can also open it yourself by following our guide on how to open CDP account.

After successful signup, you need to fund your account with cash, CPF, or SRS:

  • If you want to use cash, simply top up your brokerage account by transferring the money from your bank account. Most brokerages also accept PayNow for easy top-up.
  • If you want to use CPF or SRS, you need to put in your CPFIS/SRS account number from your brokerage website to link them.

Once your account is funded, you can start trading the instruments. Happy investing!

 

What Products Offered by These Brokerage Platforms?

These online brokerage platforms allow investors to buy and sell various investment products, such as stocks, ETFs, bonds, commodities, REITs, etc. Please carefully consider the risk profile of each product before investing. You can read our introduction to the different types of asset classes to learn more about these products.

Some brokers also offer access to the derivatives markets, such as CFDs, options, etc. These derivative products have even higher risks, so they should be reserved only for the most sophisticated traders.