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All around the world, there is now a wide range of stock brokers offering great trading conditions with the lowest possible fees and commissions. This leaves you with a decision to make when selecting the best stock broker for yourself based on your trading location.
Here we take a look at the best Singapore stock brokers you will find available if this is where you are based. At the same time, we will also review a few important points you should consider when making your broker choice in the first instance.
Factors to Consider Before Trading
Each of the brokers we have selected is among the best available for stock trading in Singapore. With that said, there are still a number of factors you should know and think about to allow you to make the best choice based on your own trading needs.
Broker Fees and Commissions: Stock brokers are increasingly moving toward offering low fee, and commission-free trading. This can have a major effect on your overall trading costs and is something to consider as a priority when making your choice.
Trading Platforms and Usability: There are several top trading platforms with great features available. You will want to make sure the available features and overall user-experience with a broker match both what you need, and your level of experience in trading.
Trust and Security: A huge area of priority. Nothing is more important than the safety of your funds. To this end, it is imperative that you choose a broker with a strong reputation and positive history in the industry. This is something we have also tried to ensure when choosing our top brokers.
With a huge number of years of experience in the industry, FSMOne is one of the most trusted stock brokers in Singapore and other Asian countries. They have been in operation since the year 2000 and remain very competitive on fees and trading costs as well as continuing to evolve into a very easy-to-use, modern online stockbroker.
With more than 20-years of experience, you will find a broker that is very well-regulated and highly compliant with all local regulations and with largely positive trader feedback. Within the broker, multiple account types are available from a personal to a premium level for advanced traders and to suit all needs. A number of status levels also exist within an excellent reward program that can help you reduce trading costs and unlock a host of benefits.
In all, you will find thousands of assets from local and international markets including the US to be traded. This includes thousands of funds, bonds, and stocks for your selection.
Trading Costs: A variety of pricing tiers exist but you will generally find many free services including a 0% sales charge on all funds and low commission on stocks and ETFs from 0.08% with a $10 flat processing fee.
Head directly to the FSMOne website to learn more and open your account now.
CGS-CIMB is a very well-known financial company and broker that offers services across a number of markets and has been doing so since 2005. They offer forex trading as well as equities trading where you can access hundreds of assets across Singapore and 9 other major countries worldwide through their proprietary trading platform.
The broker firstly provides a wonderful infrastructure for you to trade within that is extremely secure and regulated by MAS in Singapore to provide the highest quality of safety standards. You will find several account types available including their cash upfront account, or a margin trading account with some very unique features for you to trade in more than 800 stocks, ETFs, Bonds, and other assets.
Added to this, CGS-CIMB provides excellent trading platforms in the shape of MT4, and their own proprietary trading platform iTrade which offers more than 70 unique features and tools. The broker is also backed by an excellent research and education section that can allow you both to develop quickly and gain valuable insight no matter your level of trading experience.
Trading Costs: Commission on trades here starts from 0.18% with an $18 SGD minimum amount and a minimum trading deposit of $25 SGD that can vary based on your account type choice.
Feel free to visit CGS-CIMB directly if you are a Singapore-based trader to get started.
POEMS is the trading section of PhillipCapital and one of the longest standing trading platforms and brokerages in Singapore has been around in one form or another since 1975. Through this experience, you can be sure of a well-regulated and highly trusted experience with many hundreds of assets available for trading across a broad range of markets.
You will find stocks, bonds, ETFs, futures, options, CFDs, warrants, and many more instruments available to be traded on exchanges not only in Singapore but around the world. The broker offers one of the broadest ranges of asset collections in the industry if you are a stock trader in Singapore.
Additionally the usability of the proprietary platforms offered is superb with the Poems 2.0 trading platform being available both on desktop and mobile to facilitate a very intuitive, user-friendly trading experience that can suit beginners all the way through to expert traders.
Trading Costs: There is no minimum deposit to start trading here and commission starts from 0.08% or $8 SGD on Singapore stocks. This fee is $6.88 USD on US stocks and an inactivity fee of $16.05 applies after 1 quarter of non-trading.
For more details, you can visit the Poems website directly to sign up and begin trading today.
iOCBC is the securities trading arm of the longest established bank in Singapore, OCBC Bank. They have been around since 1986 and this trusted history lends very positively to the trading experience and security you can expect when stock trading through this broker.
The broker provides excellent Direct Market Access to a total of 15 stock markets in Singapore and around the world ensuring you can trade in hundreds of assets of varying types. This means stocks, ETFs, bonds, funds, warrants, and more can all be traded with the availability of leverage and trading on margin also.
One of the real positive points for those trading with iOCBC and in particular more advanced traders is the depth of research they provide with a wide range of analysis and daily market reports always made available. They also cater well for new investors through their specifically dedicated Young Investor Program that offers a host of benefits including cash rebates of up to $500.
Trading Costs: The commission with this broker is in line with others starting from 0.18% and with a $25 SGD minimum as well as a clearing fee of 0.0325%, and other fees depending on the exchange you are trading on.
For more information on this broker or to get started, you can check out the iOCBC website.
Interactive Brokers is of course one of the best-known brokers around the world for stock trading and more. They bring a stellar reputation backed by this experience into the Singapore market.
Offering one of the widest asset ranges in the sector with stocks and other instruments available to be traded across 26 markets worldwide, it is no surprise that IB has quickly snapped up market share among Singapore-based investors. They also have amongst the lowest commissions and fees of any broker in Singapore while featuring further reductions for high-volume traders.
Usability is also a key factor and area where IB excels with their trading platform being extremely easy to navigate and simple to understand for new traders while offering enough depth of features and analysis to satisfy long-time users.
Trading Costs: Singapore stock trading fees start from 0.08% with a $2.50 SGD minimum, while US stock trading fees have a $0.35 USD minimum.
If you would like to know more about this top broker, you can visit the Interactive Brokers Singapore website now.
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world. A keen trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.