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.
This article was first published on 16 June 2023, and was updated on 04 March 2024.
Summary of best online brokerage & trading platform in Singapore [2024]
Our picks for best online brokerages in Singapore:
- Cheapest for trading US and SG stocks: Moomoo Singapore
- Best for CDP-linked account, CPF/SRS investing and RSP of SG stocks: FSMOne by iFAST
- Best sign-up promo: Webull 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 | |
![Best online brokerage & trading platform in Singapore [2024] (1)](https://i0.wp.com/growbeansprout.com/strapi-uploads/Rectangle_24541_a1e7cf86e8.png "Best online brokerage & trading platform in Singapore [2024] (1)") | |
Pros:
| Cons:
|
Promo: New users can earn a welcome bundle worth up to S$880 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. | |
Best for CDP-linked account, CPF/SRS investing and RSP in Singapore stocks: FSMOne | |
![Best online brokerage & trading platform in Singapore [2024] (3)](https://i0.wp.com/growbeansprout.com/strapi-uploads/Rectangle_24541_1_812c682579.png "Best online brokerage & trading platform in Singapore [2024] (3)") | |
Pros:
| Cons:
|
Best sign-up promo: Webull | |
![Best online brokerage & trading platform in Singapore [2024] (5)](https://i0.wp.com/growbeansprout.com/strapi-uploads/Frame_48197_0099f571e6.png "Best online brokerage & trading platform in Singapore [2024] (5)") | |
Pros:
| Cons:
|
Promo: New users can receive 5 free shares worth US$10 to US$500 each when you sign up for a Webull account and make an initial deposit of more than $500. T&Cs apply. Promo: Earn US$80 to US$5,000 of Nvidia shares when you subscribe to Webull Moneybull. 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. Beansprout Exclusive: Receive a bonus S$50 Grab or NTUC FairPrice voucher in addition to Webull welcome rewards when you sign up through Beansprout. | |
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 brokerage | Minimum Fees | Commission fee and platform fee |
| Moomoo SG | S$1.98 | 0.06% |
| Syfe Trade | S$1.98 | 0.06% |
| Tiger Broker | S$1.99 | 0.06% |
| Saxo | S$3.00 | 0.08% |
| Phillip Securities: POEMS Cash Plus | Nil | 0.08% |
| Interactive Brokers | S$2.50 | 0.08% |
| FSMOne | S$8.80 (Flat Fee) | S$8.80 (Flat Fee) |
| Standard Chartered Online Trading | S$10 | 0.20% |
| Maybank Kim Eng Trade (Pre-funded) | S$10 | 0.12% |
| HSBC | S$10 | 0.25% |
| CGS-CIMB iTrade | S$18 | 0.18% |
| Lim & Tan Securities: Cash Collateralised Trading | S$18 | 0.18% |
| OCBC Securities: Equities Plus Account | S$18 | 0.18% |
| UOB Kay Hian: UTRADE Plus | S$18 | 0.18% |
| KGI Connex | S$25 | 0.18% |
| Citibank Brokerage | S$28 | 0.25% |
| 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 accounts | Minimum Fees | Trading commission |
| FSMOne | S$8.80 (Flat Fees) | S$8.80 (Flat Fees) |
| DBS Vickers | S$10 - Applicable to Buy Trades only | 0.12% |
| 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 brokerages | Minimum Fees for Singapore stocks | Trading commission |
| CGS-CIMB Securities | S$25 | 0.275% |
| DBS Vickers | S$25 | 0.28% |
| KGI Securities | S$25 | 0.275% |
| Lim & Tan Securities | S$25 | 0.28% |
| Maybank Kim Eng Securities | S$25 | 0.275% |
| OCBC Securities | S$25 | 0.275% |
| Phillip Securities (POEMS) | S$25 | 0.28% |
| UOB Kay Hian | S$25 | 0.275% |
| 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.
| Brokerage | Minimum Fees | Trading commission |
| Webull | US$0.50 | 0.025% |
| moomoo SG | US$0.99 | Zero |
| Interactive Brokers | US$1 | US$0.005 per share |
| SAXO | US$1 | 0.08% |
| Syfe Trade | US$1.49 per trade | US$1.49 per trade |
| uSmart | US$1.50 | US$0.008 per share |
| Tiger Brokers | US$1.99 | US$0.01 per share |
| FSMOne | US$3.80 | 0.08% |
| Phillip Securities POEMS Cash Plus | US$3.88 per trade | US$3.88 |
| ProsperUs | US$5 per trade | US$5 |
| Maybank Kim Eng | US$10 | 0.12% |
| HSBC | US$10 | 0.15% |
| CGS-CIMB Securities | US$18 | 0.18% |
| Standard Chartered Online Trading | US$10 | 0.25% |
| Citibank Brokerage | US$25 | 0.30% |
| KGI Securities | US$20 | 0.3% |
| Lim & Tan Securities | US$20 | 0.3% |
| OCBC Securities | US$20 | 0.3% |
| UOB Kay Hian | US$20 | 0.3% |
| 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.
| Broker | Fees |
| POEMS Cash Plus Account | 0.08% per trade, no minimum |
| FSMOne | S$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 | ||
| FSMOne | Buy | 0.08% or min S$1, whichever is higher |
| Sell | S$8.80 | |
| POEMS Share Builders Plan | 0.3% per annum, or 0.025% monthly, of Total Portfolio Value (“TPV”), min. S$1 per month
| |
| 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, thenWebulland 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 RSP | 0% | 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
| 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.
![Best online brokerage & trading platform in Singapore [2024] (2024)](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mP8/h8AAvMB+NzmkbcAAAAASUVORK5CYII=)