This guide is designed to assist users in finding the best stock brokers and apps in Singapore. With a growing mix of both reliable brokers and fraudulent ones, it can be challenging to sift through the options and pick the best platform suited to individual trading and investment goals.
Users who forego thorough research might end up choosing a platform or app that comes with high fees, a complex interface, a limited range of markets, or restricted trading features.
We have evaluated 133 stock brokers in Singapore to enable users to compare and select the perfect platform for their requirements. To aid in making an informed decision, we provide a list of online brokers featuring the top stock trading platforms in Singapore below, accompanied by detailed reviews and comparisons.
Best Stock Brokers In Singapore
The 6 best stock brokers in Singapore are listed below:
Top Online Stock Brokers Reviewed
Below, we review the five highest-rated online stock trading platforms in Singapore.
1. eToro – Best Trading Platform and App in Singapore for Beginners
Rating: 4,9/5 ⭐⭐⭐⭐⭐
☑️BEST FOR: Social Copy Trading
☑️LEVEL: Beginner & Intermediate
☑️FEES: Low ($0 commission)
☑️MARKETS: 2,800 stocks, 2,850 CFD’s
👍👍👍OPEN ACCOUNT👍👍👍
✅✅✅READ REVIEW✅✅✅
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Founded in 2007, eToro is an investment company that offers a wide array of trading options, including 2,800 real stocks, 2,850 stock CFDs, and a selection of REIT stocks. The trading platform, known for its user-friendly interface, is available as both a Web Trader and a mobile app, catering especially to beginners.
eToro provides several stock trading tools, such as one-click trading, various risk management tools (including stop losses and trailing stops), CopyTrader for social copy trading, Smart Portfolios, Procharts for advanced charting, and Tipranks for research insights. The company boasts low trading fees with 0% commission on stocks and ETFs, although it does charge spreads that vary with market conditions, overnight fees of $5, currency conversion fees of 0.0050 pips for non-USD deposits, and a $10 monthly inactivity fee after 12 months of inactivity.
Regulated by three tier-one authorities—the FCA, CySEC, and ASIC—eToro's reliability is well-established. Customer support is accessible via email, phone, and live chat in both English and Arabic.
Key Features:
➕ Low stock trading fees with no commissions on stocks and ETFs
➕ Access to a broad spectrum of assets, including fractional shares
➕ A variety of trading tools and easy accessibility through both web and mobile platforms
➕ Low minimum deposit requirement ($50)
➕ Strong regulation by leading financial authorities
Pros:
✔️ Over 4000 tradable symbols
✔️ Intuitive trading interface and high-quality mobile app
✔️ Leading social and copy trading features
✔️ Proactive customer support
Cons:
❌ Lack of algorithmic trading options
❌ Higher than average fees for Forex and CFDs
❌ Some advanced trading features not available
2. Plus500 – Best for Mobile Trading
Rating: 4,8/5 ⭐⭐⭐⭐⭐
☑️Min Deposit: $100
☑️Fees: 4.9
☑️Assets available: 4.9
☑️Total Fees:
👍👍👍OPEN ACCOUNT👍👍👍
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CFD Service. Regulated by the DFSA. Trading carries risk.
CFDs are complex financial instruments that carry a high risk due to leverage, with 82% of retail investor accounts losing money when trading CFDs with this provider. It is crucial to understand how CFDs work and to assess whether you can afford the high risk of losing your money.
Founded in 2008, Plus500 is a publicly traded, international multi-asset broker offering access to a wide variety of financial instruments including thousands of stocks, options, and CFDs across shares, cryptocurrencies, commodities, energy markets, indices, and ETFs.
Plus500's proprietary trading platforms and apps are designed with the beginner in mind, offering intuitive navigation and accessibility on all mobile devices. Features such as dynamic charting, alert notifications, multiple order types, and one-tap trading make Plus500 a top choice for UAE-based traders and investors who prefer to trade on the move.
The Plus500 trading platforms include:
Plus500 also provides an extensive range of tools for technical analysis, educational materials, daily analyses, and +Insights, which offer detailed insights into the trading activities of other Plus500 users.
Key Features:
➕ A vast array of tradable assets, nearly 2,000 stocks, and various asset classes.
➕ Negative balance protection ensures users never owe more than their account balance.
➕ Beginner-friendly interfaces, with a demo account available for new traders.
➕ Competitive trading fees with commission-free CFD trading and low rates for US shares.
➕ Low swap rates and overnight funding fees.
➕ Comprehensive educational resources covering a range of trading and investing topics.
Pros:
✔️ Sleek trading app with price notifications.
✔️ Free demo account.
✔️ Commission-free forex and CFD trading with competitive pricing for US shares.
✔️ English and Arabic support available 24/7 across multiple channels.
Cons:
❌ No access to fractional shares, penny stocks, or social trading.
❌ No option to trade actual cryptocurrencies.
❌ Limited to trading only US shares and a smaller selection of real stocks compared to other brokers.
3. TradeStation – Best for Active Traders
Rating: 4,9/5 ⭐⭐⭐⭐⭐
☑️BEST FOR: Active trading
☑️LEVEL: Intermediate & expert
☑️FEES: Low ($0 commission)
☑️MARKETS: 5,000 stocks and ETFs
👍👍👍OPEN ACCOUNT👍👍👍
✅✅✅READ REVIEW✅✅✅
Founded in 1982, TradeStation is an established online brokerage offering a wide array of assets, including 5,000 international stocks, OTCBB penny stocks, and 2,000 ETFs. The platform is renowned for its comprehensive set of trading tools, including dynamic market-scanning tools, advanced order management capabilities, and fully customizable charts. Users can access the service via web, desktop, and mobile applications (available for both Android and iOS), with trade execution times under 0.040 seconds.
TradeStation's suite of research and analysis tools includes:
Educational resources at TradeStation cater to both beginners and advanced traders, featuring a variety of video series and articles.
The minimum deposit to open a live account with TradeStation is $500 (approximately 1,800 AED). The platform supports several methods for deposits and withdrawals, including ACH transfers, wire transfers, checks, and online payments via credit or debit cards.
Customer support at TradeStation is accessible by phone, email, and live chat in English and Arabic.
Key Features:
➕ Zero commission on stock trades for up to 15,000 shares per trade.
➕ Extensive market coverage, including access to international stocks and ETFs.
➕ Fast and reliable order execution.
➕ Robust research and fundamental analysis tools.
➕ Advanced charting capabilities and back-testing for automated trading.
➕ Availability of OTCBB penny stocks.
Pros:
✔️ Quick and dependable trade execution.
✔️ Supports algorithmic and day trading.
✔️ Access to penny stocks.
✔️ Excellent trading simulator for practice.
Cons:
❌ Charges may apply for inactivity and certain funding methods.
4. Interactive Brokers – Best Stock Trading Platform
Rating: 4,9/5 ⭐⭐⭐⭐⭐
☑️BEST FOR: Trading platform
☑️LEVEL: Intermediate & expert
☑️FEES: Low ($0 commission)
☑️MARKETS: 135 exchanges, 17,500 stocks, 8,500 CFDs
👍👍👍OPEN ACCOUNT👍👍👍
✅✅✅READ REVIEW✅✅✅
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Interactive Brokers, an American brokerage firm established in 1978, provides access to a vast range of international markets, offering 17,500 real stocks, 8,500 stock CFDs, and fractional shares. The trading interface, which caters to both beginners and advanced traders, is user-friendly and supports over 100 different order types. Interactive Brokers operates robust trading platforms, including Trader Workstation and Client Portal, noted for their intuitive design.
Available trading platforms at Interactive Brokers include:
All platforms offer extensive customization options, are accessible via desktop, web, and mobile, and provide rapid and reliable trade execution, often under 40 milliseconds.
Interactive Brokers also provides an array of trading tools, such as watch lists, dynamic charting, news widgets, and detailed order flow information. Users have access to a wide selection of research and data for fundamental analysis from providers like Fundamentals Explorer, Zack's Investment Research, Market Realist, and TheStreet.
Interactive Brokers' fee structure includes:
Notably, the firm does not charge withdrawal, inactivity, or maintenance fees, positioning it among the brokers with the lowest fees in the industry.
The minimum deposit to open an account at Interactive Brokers is $0, with deposit and withdrawal options limited to bank wire transfers and credit cards in any currency.
Customer support is available via phone, email, and live chat from 8 a.m. to 8 p.m., Monday through Friday.
Key Features:
➕ Extensive market coverage, including 17,500 shares and 8,000 stock CFDs.
➕ Diverse trading platforms and features.
➕ Comprehensive range of research tools and data for fundamental analysis.
➕ High-speed trade execution (under 40ms).
➕ Competitive stock trading fees on US-listed stocks.
➕ Low margin loan rates starting at 1.3%.
➕ Availability of fractional shares.
Pros:
✔️ Industry-leading market coverage.
✔️ Intuitive mobile trading application.
✔️ Supports day trading, scalping, algorithmic, and automated trading.
✔️ Features suitable for both casual and professional traders.
✔️ Responsive customer support.
Cons:
❌ Limited deposit and withdrawal methods.
5. Saxo Bank – Best High Volume Broker
Recommended by LinkedIn
Rating: 4,9/5 ⭐⭐⭐⭐⭐
☑️BEST FOR: High Volume Trading
☑️LEVEL: Advanced
☑️FEES: Low ($1/share)
☑️MARKETS: 30,000 stocks & 19,000 CFDs
👍👍👍OPEN ACCOUNT👍👍👍
✅✅✅READ REVIEW✅✅✅
69% of retail investor accounts lose money when trading CFDs with this provider.
Saxo Bank, a Danish investment bank established in 1992, provides access to a diverse array of markets, including 30,000 stocks and 19,000 stocks as CFDs. The bank’s trading platforms are known for their user-friendly interfaces and are available on web, desktop, and mobile apps.
The trading platforms offered by Saxo Bank include:
These platforms feature a range of research tools such as fundamental data, trading ideas, news feeds, economic calendars, and stock screeners. Users can also integrate third-party applications like TradingView, Dynamic Trend, Updata, MultiCharts, and use API connectivity for automated trading. The charting tools are versatile, featuring various versions, drawing tools, and indicators.
Saxo Bank has a stock trading fee structure starting at $1 per share and charges a high inactivity fee of $100 every 180 days. However, there are no management or custody fees.
For UAE clients, the minimum deposit required is $2,000. Deposit and withdrawal methods include bank transfers and debit/credit cards.
Customer support at Saxo Bank is accessible 24/7 via email, live chat, and phone.
Key Features:
➕ Extensive market access with 30,000 shares and 19,000 stock CFDs.
➕ Competitive stock trading fees, as low as $0.001 per share for active traders.
➕ Access to advanced order types such as market, limit, and stop orders.
➕ A broad array of stock trading tools including watch lists, screeners, and risk management tools.
➕ Comprehensive stock research tools and data, including trade ideas and indicators.
➕ Fast and reliable trade execution, typically under 30ms.
➕ Rich educational and research materials including videos, analysis, podcasts, and headlines.
Pros:
✔️ Leading industry coverage.
✔️ Fully customizable trading features on SaxoTraderGo.
✔️ Advanced order types and account protection features.
✔️ Intuitive and easy-to-use mobile trading application.
✔️ Support for day trading, scalping, algorithmic, and automated trading.
Cons:
❌ A $2,000 minimum deposit required for UAE users.
❌ Time-intensive setup process.
6. Sarwa – Best Full Service Stock Broker
Rating: 4.2/5 ⭐⭐⭐⭐
☑️BEST FOR: Long Term Investing
☑️LEVEL: Beginner & Intermediate
☑️FEES: Low ($0 commission)
☑️MARKETS: 4,000 stocks & ETFs
👍👍👍OPEN ACCOUNT👍👍👍
✅✅✅READ REVIEW✅✅✅
Sarwa, a UAE-based online brokerage, is regulated by the FSRA and ADGM. It offers a range of trading services, including automated investing, self-directed trading, and financial advisory. Sarwa's platform is designed with beginners in mind, featuring straightforward tools such as easy buy/sell options, watch lists, and basic order types like Market and Limit orders.
Sarwa Trade, the platform's trading interface, provides access to over 4,000 international stocks and ETFs. Users have the flexibility to trade in large bulks or smaller, more manageable fractional shares.
Sarwa distinguishes itself as a low-cost broker, charging no commissions on stock trades and no fees for conversion, withdrawal, or inactivity. This positions Sarwa as an economical choice for stock trading.
The minimum deposit at Sarwa is exceptionally low at $0, and deposits and withdrawals are facilitated in AED without any conversion fees. The primary funding method available is bank wire transfers.
Key Features:
➕ No commission on stock trading.
➕ A diverse array of assets, including 4,000 stocks and fractional shares.
➕ User-friendly trading interface.
➕ Direct deposits in AED.
➕ Straightforward buying and selling options.
➕ Regulated by both DFSA and FSRA.
➕ No minimum deposit requirement.
Pros:
✔️ Local offices in Dubai and Abu Dhabi, enhancing customer service.
✔️ Ideal for beginners and long-term investors.
✔️ Both self-directed and automated trading are supported.
✔️ Access to free financial advisory services.
✔️ Allows deposits in AED with no conversion fees.
Cons:
❌ Limited research and educational resources.
❌ Lack of availability of penny stocks.
❌ Does not support algorithmic trading.
Reasons to Invest in SG Stocks
Placing your savings in a bank account is just the first step towards accumulating wealth. However, with bank interest rates often lower than the inflation rate, it becomes essential to seek out investments that yield higher returns to outpace inflation. Many investors turn to the stock market for this reason. Investing in stocks offers several benefits.
Capital Growth
Purchasing shares means buying a stake in a company, becoming a part-owner of that business. As the company grows and profits increase, so does the value of your shareholding. This increase in share price is referred to as capital growth. Selling your shares at a higher price than you purchased them results in capital gains. Conversely, selling them at a lower price results in a capital loss. An added benefit for Singapore stocks is the absence of capital gains tax, meaning no income tax is due on the profits from selling shares.
Dividend Yield
Another way to earn from shares is through dividends, which are portions of a company’s profit distributed to shareholders. Companies might pay dividends annually, semi-annually, or quarterly. If you’re interested in generating passive income, look for companies with a history of consistent dividend payouts. Notably, dividends from Singapore resident companies are also tax-free, enhancing the appeal of investing in Singapore stocks.
Diversification
Investing in shares allows for diversification. You can buy shares in multiple companies, even with small amounts of capital, as the minimum purchase is often only 100 shares. With over 700 companies listed on the Singapore Exchange, each targeting different markets and exhibiting different growth potentials, diversification helps spread investment risks. Alternatively, Exchange Traded Funds or Unit Trusts can offer diversification.
Liquidity
The liquidity of shares is a significant advantage for many investors. Shares can be easily bought or sold whenever you decide, with the minimum transaction usually set at 100 shares or units for ETFs. Transactions can be made through online brokerage services or directly with broker representatives.
Transparency
The transparency of trading SG shares or ETFs is a key benefit. Since shares are listed and traded on the Singapore Stock Exchange, it’s easy to check their market price—the price at which they are bought and sold. This transparency helps you make informed decisions about whether to sell or buy shares at the current market price or wait for a price more in line with your valuation.
Calculating Dividend Payments
Dividend payouts can be calculated either as a simple dividend per share (DPS) or as a dividend rate. DPS indicates the amount you will receive per share (e.g., $0.40 per share). The dividend rate, expressed as a percentage of the share's nominal value, would calculate as follows for 1,000 shares priced at $0.80 each: 5% x $0.80 x 1,000 shares = $40.
Comparison of Brokerage Fees for SG Stocks
Requirements for Opening a Brokerage Account for SG Stocks
Popular Investment Options in Singapore
Stocks
Investing in stocks grants you partial ownership in a company, entitling you to a share of the profits, typically paid as dividends. However, dividends depend on the company's performance and are not guaranteed. It’s crucial to understand not only the company you're investing in but also the industry it operates within. Reviewing the dividend payout history can provide insights into the consistency of a company's dividend payments.
ETFs
ETFs are collective investments that pool together a basket of stocks or bonds. Each ETF is designed to track a specific index, like how the STI ETF follows the Straits Times Index. If you're uncertain about selecting individual stocks on the SGX, ETFs offer a way to invest in a broader market segment, aiming to replicate the returns of the indices they track.
REITs
REITs function similarly to stocks but in the real estate sector. Owning a REIT is akin to being a part-owner of a portfolio of properties. For instance, CapitaLand Mall Trust allows investors to have a stake in a range of real estate assets.
Bonds
Buying a bond is like providing a loan to the issuer. Bonds typically come with a fixed interest payment schedule and a principal amount known as the par value. Bondholders receive interest payments over the life of the bond and are repaid the full par value when the bond matures. This makes bonds a relatively predictable investment in terms of returns, provided the issuer remains solvent.
Top 10 Blue Chip SG Stocks to Invest in for 2021
Risks Associated with Investing in SG Stocks
Capital Risk
Capital risk involves the potential loss of your initial investment, either partially or fully. Not every stock investment turns a profit due to various factors, so there's no guarantee you'll recover your invested capital, as not all investors will see returns from their stock investments.
Volatility Risk
The stock market is inherently volatile, with prices fluctuating on an annual, monthly, and even daily basis. This volatility introduces significant investment risks, as predicting market movements is challenging. However, volatility can also create opportunities for investors to earn returns.
How to Invest in SG Stocks: 3 Easy Steps
Step 1: Choose an Investment Brokerage Firm
Before you can start investing, you need to open an investment brokerage account. This account allows you to buy and sell stocks on the SGX, and possibly on other international exchanges. When selecting a brokerage, consider several factors, including commission fees.
Step 2: Open a CDP Account
Depending on your chosen brokerage, you may need to open a Central Depository (CDP) Account, operated by the Singapore Exchange (SGX). This account offers integrated clearing, settlement, and depository facilities. Some brokerages allow you to apply for both a brokerage and a CDP account simultaneously, or you can apply directly through the SGX website.
Step 3: Fund Your Investment Account
Check if your brokerage account requires pre-funding. If so, you'll need to deposit funds before you start buying shares. Most online brokerages facilitate transfers via PayNow or bank transfer.
Choosing SG Shares to Buy
With over 700 companies listed on the SGX, selecting stocks can be daunting. Consider these factors before investing:
Investment Goals
Define what you want to achieve with your investments. If you seek passive income, focus on dividend-yielding stocks. If you prefer quicker returns, you might consider investing in emerging companies with growth potential.
Risk Appetite
Determine your willingness to accept risk. Higher risk can lead to higher potential returns. If you prefer low risk, consider blue-chip stocks or diversified investments like ETFs or unit trusts.
Investment Style
Identify whether you are a long-term holder or an active trader. Choose a brokerage that suits your style; stable and secure for long-term investing, or one with low commissions and fast execution for frequent trading.
Choosing the Best Investment Brokerage for You
When investing in SG stocks, or stocks in general, the variety of brokerages available can be overwhelming. Here are some crucial factors to consider when selecting an investment brokerage.
Commission Fees
Commission fees are charged every time you buy or sell shares. If you plan to trade frequently, look for a broker with low commission fees. However, if you are a buy-and-hold investor who trades less frequently, the commission fee may be less significant to you. Also, pay attention to the minimum fee, which is the least amount you will be charged regardless of the trade amount. For instance, if the minimum fee is $15 and the commission fee is 0.5% of the trade amount, you would be charged $15 instead of $5 on a $1000 investment because the commission fee does not meet the minimum.
CDP or Custodian?
Choosing between a CDP (Central Depository) brokerage account and a custodian account depends on what you value more as an investor. A CDP account holds shares directly under your name, which might be preferable. However, custodian accounts often have lower fees and might be a better option if cost is a major concern.
Platform's Ease of Use
Since most online investment brokerages operate on a self-service basis, it's important to choose a platform that you find intuitive and easy to use. Consider whether you prefer trading via a mobile app or website and check the user-friendliness of the platform's interface.
Fund Transfer
Ensure that the brokerage offers convenient options for funding your account. Common methods include bank transfers and PayNow. Opt for a brokerage that supports your preferred payment method.
Research Availability
Consider whether the brokerage offers market research, analyst reports, and educational resources like demo accounts and tutorials. If you value having in-depth market analysis and learning materials, this could be a decisive factor in your choice.
Customer Service
While investing through an online brokerage typically requires minimal interaction with customer service, it's important to have support when you need it. Look for a brokerage that offers reliable customer service, accessible through various channels like phone, email, or live chat, and check the availability hours.
Selecting the right brokerage involves balancing these factors according to your specific needs and investment style.
Conclusion
With the increasing number of online stock brokers in the Singapore, each offering unique platforms and conditions, finding the best fit for individual needs can be challenging. It’s crucial to compare and evaluate various providers to avoid scams, which requires significant time and effort.
This guide simplifies the process by assessing top brokers tailored to different types of traders and investment goals. Our analysis of the best stock trading platforms in the Singapore is summarized in the table below.
✅BROKER✅PLATFORM SCORE✅TRADING FEES& COMMISSIONS✅Nr. OF STOCK✅MIN. DEPOSIT✅RECOMMENDED FOR
#1 eToro - 4.9/5 • $50 • 2800 stocks/ 2800 CFDs • 180 AED/ $50 • Beginners
#2 Plus500 - 4.9/5 • $0.006 • 1900 stocks/1900 Stock CFDs • 300 AED/ $100 • Mobile trading
#3 Interactive Brokers - 4.9/5 • $0.005/share • 16,500 stocks/ 8,000 CFDs • 0 AED • Average to Advanced Traders
#4 Tradestation - 4.9/5 • $0 • 5,000 stocks/ No CFDs • 7,300 AED/ $2,000 • Day Traders and Scalpers
#5 Saxo Bank - 4.9/5 • $1.0/share • 30,000 stocks/19,000 CFDs • AED 7.300/$2,000 • Institutional Investors
#6 Sarwa - 4.2/5 • $0 • 4,000+ stocks/No CFDs • AED 0,00 • Long Term Traders
eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
