Best trading platform in Singapore – Interactive Brokers
Interactive Brokers (IBKR) is my pick for the best stock broker for trading stocks and futures in Singapore across local and global markets. IBKR is regulated by the Monetary Authority of Singapore (MAS) and provides access to the Singapore Exchange (SGX), offering 637 stocks, 720 futures, 74 ETFs, 57 indices, 5 options on futures, 196 structured products, and 7 warrants, totaling 1,696 products. With competitive pricing of just SGD 2.50 per SGX order, IBKR is one of the most cost-effective brokers for trading stocks in Singapore.
Offering of investments: Serving traders in over 200 countries, IBKR grants access to more than 150 markets. Since 2021, IBKR has also offered cryptocurrency trading, allowing clients to trade bitcoin, ethereum, litecoin, and bitcoin cash with low commissions of 0.12% to 0.18%. IBKR also supports trading in U.S. spot gold in amounts as small as one ounce and Micro and Small futures contracts.
Trading costs: IBKR Lite offers zero-commission trades for U.S. stocks and ETFs, though it relies on payment for order flow (PFOF), which slightly impacts order execution quality. IBKR Pro, designed for professional traders, avoids PFOF and offers superior execution with tiered commissions starting at $0.0035 per share. High-volume traders can reduce costs to as low as $0.0005 per share. U.S. options contracts under IBKR Pro are similarly tiered, beginning at $0.65 per contract.
Mobile trading: IBKR offers three mobile apps tailored to different traders. IBKR Mobile is ideal for experienced traders, featuring fast streaming data, advanced charting, and comprehensive portfolio management tools. GlobalTrader caters to beginners and international stock traders, offering fractional shares and easy access to global markets. The Impact app focuses on ESG investing, allowing users to align portfolios with their personal values.
Excellent choice for trading stocks in Singapore – IG
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 IG
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£250.00 |
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IG is a highly trusted, well-regulated broker and an excellent choice in 2024 for trading stocks in Singapore. Licensed by the MAS (Monetary Authority of Singapore), IG offers share trading via CFDs across over 13,000 stocks (including SGX shares) on its proprietary platform suite, including access to IPOs, and after-hours trading on over 70 popular symbols.
IG also offers SGD-denominated index CFDs, which can be a great option for local investors or international investors who want to speculate on domestic markets in Singapore, using a Singapore Dollar based balance. IG also offers Singaporeans a Premium account for active traders, as well as an Accredited Investor account for professional investors.
Great choice for trading on the Singapore Exchange (SGX) – Saxo
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 Saxo
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$0 |
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Saxo is a highly-trusted multi-asset broker, regulated by the MAS. Saxo holds over 100 billion in assets,and ranks highly across nearly all important categories, including for its market research resources and its trading platforms. In addition to offering a substantial selection of global markets and CFDs, Saxo is a great choice for international and local investors looking at the markets in Singapore, including stocks on the SGX.
Saxo offers low trading costs, with a minimum 3 SGD per trade, across its Classic, Platinum, and VIP accounts. You can avoid custody fees at Saxo if you opt into its Securities Lending program (Note: Singapore residents are not charged any custody fees for SGX stocks and ETFs). SGX Level 1 market data is available for 15 SGD for streaming real-time prices, and 75 SGD for Level 2 which adds depth of book (i.e. amount available at each price.).
FAQs
How do I get started stock trading in Singapore?
To start trading stocks in Singapore, the first thing you'll need to do is open a brokerage account. You’ll want to choose one of the best stock brokers that operates within Singapore or that provides access to the Singapore stock markets, including the Singapore Exchange (SGX). I recommend choosing a broker licensed by the Monetary Authority of Singapore (MAS) to maximize your regulatory protection.
Once you’ve found a broker that fits your needs, you can follow this quick guide to start trading stocks in Singapore:
- Set up your brokerage account: Carefully fill out your account application. Make sure that you read your broker’s terms and conditions thoroughly.
- Fund your account: Deposit an amount you're comfortable risking via your preferred deposit method.
- Test the waters with paper trading: Before diving into live trading, experiment with paper trading. Paper trading allows you to familiarize yourself with the broker’s platforms and tools without risking any of your real money.
- Create an trading plan: Successful investing isn’t about winning on every trade; it’s about sticking to a coherent investment strategy that manages risk effectively. New to investing? Learn how to invest in stocks.
- Start trading: Once you're ready, choose the size of your first trade and enter the market. Whether you’re going long by buying shares or short by selling, it’s important to stay disciplined and follow your trading plan.
Do I need a CDP to trade stocks?
Depending on whether you’ll be trading cash equities (physical stocks) or stock CFDs (derivatives not available to U.S. residents), you may need to set up a CDP Securities account with the Singapore Exchange (SGX). This involves connecting your local bank account for direct crediting services, and requires a Tax Identification Number (TIN), Singaporean Bank account number, and copy of your signature.
In other words, if you are just trading CFDs on the SGX, you wont need a CDP, but if you are trading SGX products directly with your broker, the CDP account application will likely be required, and can be easily setup including using Singpass (learn more about setting up a CDP here: https://investors.sgx.com).
Which Singaporean brokerage has the lowest fees?
Interactive Brokers (IBKR) offers some of the lowest rates for trading on the Singapore Exchange (SGX), in addition to competitive pricing on its forex and CFDs offering. IBKR offers fixed pricing where you avoid exchange fees, but pay a flat fee of 2.50 SGD per order on the SGX.
Active traders: IBKR charges a minimum of 2.50 SGD (or 0.08% of trade value) per SGX order for clients trade who less than 2.5 million SGD in monthly volume as part of its base Tier 1 rates. That said, deeper discounts are available for active traders with Tier 4 pricing at just 0.90 SGD per order, or 0.02% of trade value, if you trade over 150 million SGD per month. For its spot forex trading in Singapore, Interactive Brokers offers low average spreads alongisde with low per-trade commissions, making it one of the lowest fee brokers in Singapore in 2024 (learn more about the best forex brokers in Singapore at ForexBrokers.com).
What is the best trading platform for beginners in Singapore?
IG offers the best trading platform suite for beginners traders in Singapore in 2024. IG’s proprietary web-based platform is user-friendly and packed with essential features for stock trading. It includes live market prices, comprehensive research tools, and the ability to customize layouts. Beginners will find IG’s charting tools to be smooth and intuitive, with easy-to-use drag-and-drop functions. IG also offers specialty platforms like MetaTrader and L2 Dealer for more advanced traders. IG’s platform suite also delivers in-depth educational content in a variety of formats, such as educational articles, videos, webinars, and courses. IG even has a standalone mobile app dedicated to education.
Why you should trust us
Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
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