CMC Invest Singapore Review: Best Online Investment Brokerage in Singapore?

What Happened?

For ETF investors in Singapore who prefer dollar-cost averaging into Ireland-domiciled ETFs (Exchange Traded Funds), finding the right brokerage platform can feel like searching for a needle in a haystack.

I’m one of those investors who values the benefits of ETFs like CSPX (iShares Core S&P 500 UCITS ETF) for its lower withholding tax on dividends or the accumulating structure. 

But there’s a catch: these ETFs are listed on the London Stock Exchange (LSE), which not many brokers offer access to.

It’s a common frustration among the local ETF investing community. Conversations often circle back to the same question: which brokers actually provide LSE access without sky-high fees or complications?

After researching the options available, I found that CMC Invest is one of the few platforms in Singapore that offers access to the LSE. 

In this review, I’ll cover what makes CMC Invest work well along with the areas where I think they could improve.

If you're looking for a broker to access more markets while based in Singapore, keep reading to find out if CMC Invest might be the right choice for you!

A quick glance at CMC Invest

CMC Invest is a trading platform built specifically for retail investors looking to grow their wealth through shares and ETFs. 

If the name sounds familiar, that’s because it shares a parent company with CMC Markets. But don’t get the two confused, their focus is entirely different.

CMC Markets is primarily geared toward traders looking to take positions on Contract for Difference (CFDs) and Forex, though it does offer shares and ETFs. 

CMC Invest, on the other hand, is designed for investors like me who are focused on building long-term portfolios rather than short-term trades.

The platform is backed by decades of financial market experience. 

CMC Markets Group was founded in the UK in 1989 as an FX trading firm and expanded into Singapore in 2007. 

Recognising the growing demand for long-term investing solutions, they launched CMC Invest in 2023, which is tailored for investors who want to buy and hold stocks and ETFs, or even trade actively, but without the complexity of CFD-focused platforms.

What I Like About CMC Invest

#1 – Low Commissions with Free Monthly Trades

One of the biggest draws of CMC Invest is its low commission trading. Fees start from just 0.05% for Singapore stocks, with a minimum of S$3 after your free trades. 

There are also different account tiers based on trading frequency:

For those who dollar-cost average (DCA) into their investments, like me, the Gold tier (free) is a solid option, offering two free trades per month for Singapore stocks and 5 per market for US, UK, HK and CA stocks.

To sweeten the deal further, CMC Invest is offering the higher Invest Tier to existing and new customers for free for 12 months from 11 April 2024 onwards. 

This means you get 5 free trades a month for SG stocks and 10 per market for US, UK, HK and CA stocks for one whole year! 

The best part? No hidden fees—no platform fees, no custody fees, no settlement fees, and no inactivity fees. 

FYI: CMC Invest is also waiving the levy and exchange trading fees when you invest in Hong Kong  stocks until further notice:

Commission Fees After Free Trades

But, once you've exhausted your free trades for the month, the following commission fees apply for Invest Tier (as of 20 February 2025):

• Singapore Stocks: 0.04% of the trade value, with a minimum charge of SGD 2.
• US Stocks: 0.03% of the trade value, with a minimum charge of USD 3.
• UK Stocks: 0.05% of the trade value, with a minimum charge of GBP 5.
• Hong Kong Stocks: 0.06% of the trade value, with a minimum charge of HKD 50.
• Canadian Stocks: 0.06% of the trade value, with a minimum charge of CAD 6.

You can check out the full list of fees for each tier here.

Foreign Exchange (FX) Fees

But, since CMC Invest only supports SGD deposits, trading in foreign markets requires currency conversion. An FX fee of 0.2% - 0.6% is applied to the transaction amount depending on your tier as follows: 

#2 – Access to 15 Markets

One of the strongest selling points of CMC Invest is the range of markets it provides access to. 

With access to 15 different markets across the globe, it offers significantly more breadth than many competing platforms in Singapore.

As mentioned earlier, CMC Invest provides access to the London Stock Exchange. This is crucial if you’re looking to invest in Ireland-domiciled ETFs like CSPX.

Beyond the LSE, CMC Invest covers:

• North America: US & Canada
• Europe: UK, Germany, France, Spain, and several others
• Asia-Pacific: Singapore, Hong Kong, Japan, Australia, New Zealand

For expats living in Singapore, this market diversity is especially beneficial as it allows you to continue trading stocks from your home country without needing multiple brokerage accounts.

I've also found the extended trading hours for US markets to be particularly useful. 

This feature allows me to place trades outside of standard market hours, which is an advantage given Singapore's time zone difference from the US.

#3 – Mobile and Web App Trading with Easy Deposits and Withdrawals

CMC Invest has a well-designed mobile app that’s user-friendly and easy to navigate. 

Unlike some platforms that require me watching tutorials just to navigate basic functions, I was able to start using the CMC Invest app intuitively right away. 

The mobile interface is well-designed for both casual checking and actual trading. 

The app provided me with an easy way to view and filter my holdings, and had panels where I could track how the market was doing, create watchlists for stocks I was looking at and even track the biggest movers and shakers in stocks for the day.

Through the app, you can:

• Deposit funds via FAST transfers, PayNow, or bank transfers. Deposits are typically processed immediately or within a few hours, depending on the method.
• Withdraw funds to your linked bank account. Withdrawals are usually processed within 1-2 working days.

However, it's important to note that while you can trade in multiple markets, CMC Invest only supports SGD deposits. 

This means that when trading in foreign markets, your SGD will be converted to the respective currency, and a foreign exchange (FX) fee of up to 0.6% applies. 

But on the plus side, you do not need to bother with exchanging currencies and trying to guess if you have enough foreign currency to execute your trade.

CMC Invest Web App

For more advanced analysis, the web app gives me much more to work with.

I get a comprehensive view of my portfolio, market movements, trade options and insights from TipRanks, OPTO and Aspect Huntely:

#4 – 24/5 Customer Support

Unlike some brokers that only offer email support, CMC Invest provides 24/5 customer support, meaning you can reach them anytime during trading days.

What I Think Could Be Improved

#1 – FX Spread & Currency Limitations

One of the key drawbacks of CMC Invest is its foreign exchange (FX) fees. 

The platform charges up to 0.6% FX spread on currency conversions, which might not seem like a big deal at first. 

But if you're frequently trading overseas stocks or ETFs, these costs can start to eat into your returns over time.

Another limitation is the lack of a multi-currency account. 

CMC Invest only supports deposits in SGD, meaning every time you buy a stock or ETF listed in USD, GBP, or other foreign currencies, your funds need to be converted—incurring the FX fee each time. 

Unlike some brokers that allow you to hold multiple currencies and trade directly in foreign denominations, CMC Invest requires these conversions on every transaction.

For long-term investors who primarily buy and hold, this may not be a dealbreaker. 

But if you’re someone who trades frequently or dollar-cost averages into foreign ETFs like CSPX, these fees can add up and impact overall returns.

It would be great to see CMC Invest introduce a multi-currency wallet in the future, allowing investors to deposit and hold foreign currencies to minimise unnecessary conversion fees.

#2 – No Fractional Shares

Another limitation of CMC Invest is the lack of fractional shares. This means you can only buy whole shares, which can be a hurdle if you’re working with a smaller investment budget.

For example, if you want to invest in high-priced stocks like Amazon or Tesla, you’ll need to commit the full share price, potentially thousands of dollars per stock. 

This makes it harder for investors to diversify their portfolios efficiently, especially when dollar-cost averaging into stocks as they might need to wait until they’ve accumulated enough capital to buy a full share.

For now, CMC Invest may be better suited for investors focusing on ETFs (which typically have lower price points per unit) or those with larger capital allocations for individual stocks. 

#3 – No Recurring Investment Option

For investors who follow a dollar-cost averaging (DCA) strategy, automation is a game-changer. 

Unfortunately, CMC Invest doesn’t offer a recurring investment option, meaning you’ll need to manually log in and place your buy orders each time you want to invest.

While this isn’t a dealbreaker, it does add an extra layer of effort—especially for those who prefer a set-it-and-forget-it approach to investing. 

Is CMC Invest Safe?

Yes, CMC Invest is regulated by the Monetary Authority of Singapore (MAS) and holds a Capital Markets Services License. 

This means your funds and investments are protected under Singapore’s financial regulations.

What Would Beansprout Do?

CMC Invest stands out as a solid choice for retail investors, especially those looking for cost-effective access to global markets. 

It offers low commissions, free monthly trades, and access to 15 global markets—all without hidden fees like platform or custody charges. The mobile and web apps are easy to use, giving me a seamless trading experience.

Of course, it’s not without its downsides. 

The lack of fractional shares and automated investing might be a drawback for those who prefer a more flexible, hands-off approach. And while the 0.6% FX spread could add up for frequent traders, it’s something long-term investors may be able to manage.

That said, if your priority is accessing foreign markets, especially the London Stock Exchange (LSE) for Ireland-domiciled ETFs like CSPX, CMC Invest is one of the few brokers in Singapore that offers this. 

If you're keen on trying CMC Invest, they’re currently running a welcome offer promotion of up to S$661 when you open an account, fund, and trade. 

From 1 February to 31 March 2025, you can get 2 Pop Mart International shares worth S$33 when you fund S$500 and make two buy trades. 

On top of the existing welcome promotion, Beansprout readers can stack our exclusive offer below: 

Beansprout Exclusive Offer:

Get 1 Palantir Technologies Inc (PLTR) share when you:

• Fund S$1,500 and make 5 buy trades
• Keep your funds in your account until the promo ends (you can still use them for trading!) 

Promo period: 1 Feb – 31 Mar 2025

Sign up here with the promo code beansprout to enjoy these exclusive offers!

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