Best online brokerage & trading platform in Singapore [2024]

Insights

Stocks

By Beansprout • 04 Mar 2024 • 0 min read

Discover the top online brokerage and stock trading platforms in Singapore! Our expert reviews and insights help you choose the best platform for your investment needs. Compare the best online brokerage with the lowest fees and best promos as you start investing in Singapore.

Best online brokerage trading platform singapore

In this article

0 min read

Summary of best online brokerage & trading platform in Singapore [2024]

Our picks for best online brokerages in Singapore:

With many different trading platforms to choose from, finding the best online broker in Singapore can be difficult. 

To help you look for the best stock trading platform in Singapore that suits your investing needs, we will be comparing the fees across various online brokers based on the products they offer.

Whether you are looking to invest in US or Singapore stocks, or start a regular savings plan, here are our picks for the best online broker in Singapore.

Cheapest for US and Singapore stocks: Moomoo

Rectangle 24541.png

Pros:

  • Competitive fees for trading US and Singapore stocks
  • Offer access to money market funds through Moomoo Cash Plus
  • Attractive sign-up promo

Cons:

  • Not able to invest with CPF/SRS funds
  • No access to London Stock Exchange

Promo: New users can earn a welcome bundle worth up to S$970 including a guaranteed return of 6.8% p.a. for 30 days with Moomoo Cash Plus. T&Cs apply.

Beansprout Exclusive: Receive a bonus S$50 Grab or NTUC FairPrice voucher in addition to Moomoo welcome rewards when you sign up through Beansprout.

Frame 48722.png

 

Best for CDP-linked account, CPF/SRS investing and RSP in Singapore stocks: FSMOne

Rectangle 24541 (1).png

Pros:

  • Competitive fees for CDP-linked account
  • Able to invest with CPF/SRS funds
  • Competitive fees for regular savings plan (RSP) for Singapore stocks & ETFs

Cons:

  • Not lowest fee for trading US and Singapore stocks
Frame 48722.png

 

Best sign-up promo: Webull

Frame 48197.png

Pros:

  • Competitive fees for trading US stocks, ETFs and options
  • Offer access to money market funds through Webull Moneybull
  • Attractive sign-up promo

Cons:

  • Not able to invest with CPF/SRS funds
  • No access to London Stock Exchange

 

Promo: New users can receive 5 free shares worth US$10 to US$500 each when you sign up for a Webull account, make an initial deposit of more than $500 and make 1 buy trade. Get 2 additional free shares when you sign up through Beansprout. T&Cs apply. 

Promo: Earn up to US$3,000 worth of Nvidia shares when you make a transfer from an outside broker to your Webull account. T&Cs apply.

Frame 48722.png

How to pick the best online brokerage and trading platform in Singapore?

There are a few key considerations when picking an investment platform that suits you needs. We would be looking at the following:

  • Licensed and trusted. We would like our money to be safe with the investment platform. One of the ways to have a greater peace of mind is to ensure that the brokerage is licensed by the Monetary Authority of Singapore (MAS). All the brokerages we compare in this review are regulated by the MAS.
  • Low fees. Trading commission fees may erode your long term investment returns, which is why we will be comparing the commission fees and platform fees you will incur across different brokerages.
  • Product and market access: It is also important to select a broker that offers you access to the products and markets you are looking to invest in. For example, some brokers may not offer you the ability to invest in the Singapore market or trade options, so you will need to find one that meets your investment style.

#1 - Lowest cost online brokerage for trading Singapore stocks

When you are picking a brokerage account in Singapore, you will find that there are two different account types: CDP-linked accounts and custodian accounts.

With a CDP-linked account, the stocks are purchased in your name and held in your CDP account. With a CDP-linked account, you become the owner of the shares listed on the Singapore Exchange and a company shareholder. 

With a custodian account, your ownership in the stock will be through the broker, which will hold the shares in CDP on your behalf. However, you will remain the ultimate beneficial owner of the stock. 

Custodian accounts typically offer lower fees compared to CDP accounts. 

To learn more about how to decide between a CDP and custodian account, check out our comparison here. 

Custodian accounts

For trading in Singapore stocks, Moomoo SG, Tiger Brokers offer the most competitive rates with a total commission fee and platform fee of 0.06%, and minimum fee per trade of below S$2. Saxo Gold users also enjoy a competitive rate of 0.05% commission fee with a minimum fee per trade of S$2.

This is followed closely by POEMS and Interactive Brokers, which charge a commission of 0.08% per trade. 

Non-CDP linked brokerageMinimum Fees Commission fee and platform fee
Moomoo SGS$1.980.06%
Syfe TradeS$1.980.06%
Tiger BrokerS$1.990.06%
Saxo S$3.000.08%
Phillip Securities: POEMS Cash PlusNil0.08%
Interactive BrokersS$2.500.08%
FSMOneS$8.80 (Flat Fee)S$8.80 (Flat Fee)
Standard Chartered Online TradingS$100.20%
Maybank Kim Eng Trade (Pre-funded)S$100.12%
HSBCS$100.25%
CGS-CIMB iTradeS$180.18%
Lim & Tan Securities: Cash Collateralised TradingS$180.18%
OCBC Securities: Equities Plus AccountS$180.18%
UOB Kay Hian: UTRADE PlusS$180.18%
KGI ConnexS$250.18%
Citibank BrokerageS$280.25%
Source: Company websites as of March 2024

CDP-linked accounts 

If you are looking for a CDP-linked account but at a lower cost, you can also consider a cash upfront account. 

This would require you to deposit money into the trading account before you can purchase stocks. The amount you have funded is the buying power you will have on your investments. 

The FSMOne account offers the lowest fees amongst the CDP-linked account, with a flat fee of S$8.80 per trade. 

To find out how to open a CDP account, read our step-by-step guide here.

Cash upfront accountsMinimum FeesTrading commission
FSMOneS$8.80 (Flat Fees)S$8.80 (Flat Fees)
DBS VickersS$10 - Applicable to Buy Trades only0.12%
Source: Company websites as of March 2024

 

Outside of these cash upfront accounts, the minimum fee for trading Singapore stocks using CDP-linked account that does not require you to put in the cash upfront would be S$25 per trade. 

CDP-linked brokeragesMinimum Fees for Singapore stocks Trading commission
CGS-CIMB SecuritiesS$250.275%
DBS VickersS$250.28%
KGI SecuritiesS$250.275%
Lim & Tan SecuritiesS$250.28%
Maybank Kim Eng SecuritiesS$250.275%
OCBC SecuritiesS$250.275%
Phillip Securities (POEMS)S$250.28%
UOB Kay HianS$250.275%
Source: Company websites as of March 2024

#2 - Lowest cost online brokerage for trading US stocks and ETFs

For trading in US stocks, Webull, Moomoo SG, Interactive Brokers and SAXO offer the most competitive fees.

BrokerageMinimum FeesTrading commission
WebullUS$0.500.025% 
moomoo SGUS$0.99Zero
Interactive BrokersUS$1US$0.005 per share
SAXO US$10.08% 
Syfe TradeUS$1.49 per tradeUS$1.49 per trade
uSmartUS$1.50US$0.008 per share
Tiger BrokersUS$1.99US$0.01 per share
FSMOneUS$3.800.08%
Phillip Securities POEMS Cash PlusUS$3.88 per tradeUS$3.88
ProsperUsUS$5 per tradeUS$5
Maybank Kim EngUS$100.12%
HSBCUS$100.15%
CGS-CIMB SecuritiesUS$180.18%
Standard Chartered Online TradingUS$100.25%
Citibank BrokerageUS$250.30%
KGI SecuritiesUS$200.3%
Lim & Tan SecuritiesUS$200.3%
OCBC SecuritiesUS$200.3%
UOB Kay HianUS$200.3%
Source: Company websites as of March 2024

#3 - Lowest cost trading platform and online brokerage for CPF investments

According to CPF, there are only nine platforms that allow you to invest using CPF and SRS funds. These would include DBS Vickers, OCBC Securities, UOB Kay-Hian, FSMOne, CIMB Securities, Phillip Securities (POEMS), Maybank Kim Eng, Lim & Tan, and KGI Securities (Singapore).

Unfortunately, you will not be able to invest your CPF or SRS funds with popular online brokers like Tiger Brokers, Moomoo SG, and Webull.

Amongst these brokers, the POEMS Cash Plus Account offers a flat fee of 0.08% per trade, with no minimum commission for trading SGX-listed stocks and ETFs.

FSMOne also has comparatively lower commission fees with a fixed rate of S$8.80 per transaction.

This would mean that it would be cheaper to use POEMS Cash Plus if your transaction value falls below S$11,000, and cheaper to use FSMOne if transaction value exceeds S$11,000.

BrokerFees
POEMS Cash Plus Account0.08% per trade, no minimum
FSMOneS$8.80 per trade

When it comes to setting up a regular savings plan using your CPF or SRS funds, POEMS and FSMOne stand out as having the lowest fees.

If your RSP investment amount is $1,000 monthly, it will result in S$1 fees for both POEMS and FSMOne.

However, there will be a difference once your total investment increases, as POEMS calculates their fees as a percentage of the total portfolio value.

At the 10th month, POEMS would charge a monthly fee of S$2.50 (0.025% x S$10,000). FSMOne, on the other hand, would still charge the same fee of S$1 for your S$1,000 purchase in the month.

Lowest cost RSP using CPF / SRS

FSMOneBuy0.08% or min S$1, whichever is higher
SellS$8.80
POEMS Share Builders Plan

0.3% per annum, or 0.025% monthly, of Total Portfolio Value (“TPV”), min. S$1 per month

  • TPV < 40k capped at S$8.88
  • TPV ≥ 40k capped at S$5.88
Source: Company websites as of March 2024

#4 - Lowest cost trading platform and online brokerage for Regular Savings Plan (RSP) using stocks and ETFs

If you are looking to RSP into US and Hong Kong stocks and ETFs, then Webull and Tiger Brokers offer competitive rates for your to dollar-cost average into these markets. 

If you are looking to RSP into Singapore stocks and ETFs, then FSMOne and POEMS offer the lowest fees. 

FSMOne is also currently having a promotion offering 0% processing fee when you transact via a RSP in more than 100 ETFs across Singapore, US and Hong Kong in 2023.  

Lowest fee RSP for Stocks & ETFs

Markets

Webull RSP0%US and HK markets only
Tiger Brokers Auto-Invest

US stocks: US$0.01 (min. US$1.99)

HK stocks: 0.06% (min. HK$15)

US and HK markets only
FSMOne

0% processing fee in 2023 (Promotion)

Otherwise 0.08% or min SGD 1, HKD 5, USD 1, whichever is higher

S$8.80 processing fee is charged for sell orders

Over 100 ETFs listed on SGX, HKEX, and US markets
POEMS Share Builders Plan

0.3% per annum, or 0.025% monthly Total Portfolio Value (“TPV”) min. S$1 per month

  • TPV < 40k capped at S$8.88
  • TPV ≥ 40k capped at S$5.88
30 stocks, 13 REITs and 13 ETFs listed on SGX
POEMS Recurring Plan (Cash Plus account)

SG stocks: 0.08%

US stocks: US$1.88 to US$3.88

HK stocks: 0.05% to 0.08% (min. HK$15 to HK$30)

All US, Hong Kong and

Singapore counters

OCBC Blue Chip Investment Plan

0.3% or S$5 per counter, whichever is higher

0.88% (only for users below age 30)

14 blue chip stocks listed on SGX
Source: Company websites as of March 2024

Final verdict on best stock trading and online brokerage account

Here are our picks for the best online brokerage and trading platform in Singapore:

Moomoo SG offers competitive fees across trading US and Singapore stocks for investors who are looking to invest in both markets. Read our review of Moomoo SG here or signup for a Moomoo account here.

FSMOne offers the lowest fee on its cash-upfront account for investors who prefer a CDP-linked account for trading Singapore stocks. FSMOne also offer competitive fees for investing using CPF/ SRS funds and a RSP into Singapore stocks and ETFs. Read our review of FSMOne here.

Webull Singapore offers the best welcome rewards when you sign up and fund the account. Read our review of Webull here or sign up for a Webull account here.

Read also

Gain financial insights in minutes

Subscribe to our free weekly newsletter for more insights to grow your wealth

chatbubble Comments

1 comments


  • Ling kh • 16 Apr 2024 03:39 AM