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Which is the best Singapore brokerage for trading US stocks?

09 Sep 2022

We shortlisted a number of brokers that offer relative low cost for trading of US stocks – Interactive Brokers, TD Ameritrade, moomoo SG, WeBull and uTrade.

Best Singapore brokerage for US stocks

TL;DR

  • We shortlisted a number of brokers that offer relative low cost for trading of US stocks – Interactive Brokers, TD Ameritrade, moomoo SG, WeBull and uTrade.
  • These brokerages all offer fairly comprehensive functions, extended trading hours, and options trading. 
  • For sophisticated investors, Interactive Brokers stands out for its low currency exchange fees, suite of analytical tools and wide range of products. 
  • For beginner investors, Syfe Trade is also a low cost option with a relatively easy to use platform. 

Which Singapore brokerage offers the lowest fees for trading US stocks?

Let’s start by looking at the fees for trading in US stocks. 

Interactive Brokers and TD Ameritrade offer fairly competitive fees with a low commission per share and minimum fee. 

moomoo SG, WeBull and uTrade also offer fees that are one of the lowest in the market. 

BrokerageMinimum Fees (As of 9 Sep)Trading commission
CGS-CIMB SecuritiesUS$180.18%
Citibank BrokerageUS$250.30%
FSMOneUS$8.80US$8.80
HSBCUS$200.25%
Interactive BrokersUS$1US$0.005 per share
KGI SecuritiesUS$200.3%
Lim & Tan SecuritiesUS$200.3%
Maybank Kim EngUS$100.12%
moomoo SGUS$0.99US$0.0049 per share
OCBC SecuritiesUS$200.3%
Phillip Securities (POEMS)No minimumUS$5.88
ProsperUsNo minimumUS$5
SAXO MarketsUS$40.06%
Standard Chartered Online TradingUS$100.25%
TD AmeritradeNo minimumFree for US exchange-listed online stock, ETF, and option trades
Tiger BrokerNo minimumUS$0.01 per share
UOB Kay HianUS$200.3%
WebullNo minimumFree (Valid until promotion over)
uSmartUS$1US$0.005 per share
Syfe TradeNo minimumS$1.49 per trade

 

What else should you consider for the best Singapore brokerage for trading US stocks?

There are a few other factors we’d consider when deciding on which is the best Singapore brokerage account for trading US stocks. 

  • Best currency conversion rates
  • Fractional shares
  • Extended trading hours
  • Options trading
  • Comprehensive features
  • Ease of funds transfer
  • Ease of use
  • Customer support 

Best Singapore brokerage for trading US stocks based on currency conversion rates 

IBKR offers the best conversion rates from SGD to USD as they will offer market-rate conversion. However, there is a currency conversion fee of US$ 2 charged 

Hence, it might be worth converting your currency all at once. 

Best Singapore brokerage for trading US stocks based on offering fractional shares trading 

Interactive Brokers, Syfe Trade, Webull, uSmart offer trading in fraction shares in the US market. 

Fractional shares means that you own less than one whole share of stock. This makes it easier for you to invest in smaller amounts. 

It is useful when share prices are too high. For example, to buy one share in Tesla before its recent stock split would have cost you close to US$1,000 (S$1,400)

The smaller investment amount also allows you to achieve diversification by buying a broader basket of stocks with the same amount of capital. 

Interactive Brokers, Syfe Trade, Webull and uSmart all offer trading of fractional shares. 

Best Singapore brokerage for trading US stocks based on offering extended trading hours 

moomoo SG, Tiger Broker, TD Ameritrade, Interactive Brokers, Webull, uSmart offer trading of US stocks during extended trading hours.  

These brokers allow trading during pre-market hours from 4 pm- 9.30 pm (Singapore time) and during after market-trading hours from 4 am-8 am (Singapore time)

With the extended trading hours, you might be able to react immediately to breaking news outside of the normal trading hours.  

On the flip side, trading in extended trading hours carries different risks. 

One of the key risks will be liquidity risk as trading volume is usually lower outside of normal trading hours.

With a lower volume, there might be wider spreads meaning that you might buy at a higher price and sell at a lower price compared to normal trading hours. 

Best Singapore brokerage for trading US stocks based on offering options trading 

If you are a sophisticated investor, you might be interested in trading in stock options. 

Options allow investors to hedge their positions or take on leverage.

Interactive Brokers, Tiger Broker, Moomoo SG, Webull, uSmart, SAXO Market, TD, ProsperUS allow trading of US stock options. 

Best Singapore brokerage for trading US stocks based on features offered

Webull provides very capable trading and analytical features.

Interactive Brokers will be the best choice for experienced traders due to its suite of trading and analytical tools. It also offer the widest range of trading instruments in the market.

TD Ameritrade will be the best choice if you like to trade on the go. Their mobile application has many strengths - outstanding options analytics, research materials and trading tools to execute trades. 

Best Singapore brokerage for trading US stocks based on ease of funds transfer

Fund transfers into your Tiger Broker account can arrive within the same business day. 

In fact, the transfer of any currencies that Tiger supports from DBS/POSB or transfer of SGD from non-DBS/POSB accounts just takes 15 minutes during business hours. 

It will take 1-3 business days for the funds to be processed when withdrawing to DBS/POSB. There are no withdrawal fees that will be incurred.

Best Singapore brokerage for trading US stocks based on customer service

Saxo Market offers live chat services within their platform, SaxoInvestor and SaxoTraderGo. 

Along with it, their customer support replies to emails within one working day. Hence, you can be assured that you would get fairly quick assistance should you face any issues when using the brokerage.

Best Singapore brokerage for trading US stocks based on ease of use: Syfe Trade

Syfe Trade is one of the more user-friendly trading platforms available in the market. 

It allows many forms of customization with its simple and clean layout. Navigating around the app is intuitive and it just takes a few taps and swipes to make a trade. 

Best Singapore brokerage for trading US stocks – Our verdict

We started by shortlisting a number of brokers that offer relative low cost for trading of US stocks – Interactive Brokers, TD Ameritrade, moomoo SG, WeBull and uTrade.

These brokerages all offer fairly comprehensive functions, extended trading hours, and options trading. 

For sophisticated investors, Interactive Brokers stands out for its low currency exchange fees, suite of analytical tools and wide range of products. 

For beginner investors, Syfe Trade is also a low cost option with a relatively easy to use platform. 

Take the next step:

Once you have decided on which Singapore broker is the best for trading US stocks, you might want to check out some ETFs to start your investing journey. 

Disclaimer – We are not sponsored by or affiliated with any of the companies mentioned in this article. Information is accurate as of 5th Sep 2022.