Best Trading Platforms in Singapore for New Investors

This was originally posted on Planner Bee.

Do you want to start your investment journey without feeling overwhelmed?

Choosing the right trading platform can make all the difference, just like having a good travel guide turns a trip into an adventure. For new investors in Singapore, the platform you pick can greatly enhance your trading experience.

This article will introduce you to the best trading platforms in Singapore. Whether you’re taking your first steps or looking to fine-tune your investment strategy, these platforms are designed with beginners in mind, ensuring you have the support you need every step of the way.

What to look for in a trading platform

When choosing a trading platform, especially as a new investor, look for the following features:

• Ease of use: A simple and intuitive interface.
• Educational resources: Guides, tutorials, and market analysis.
• Customer support: Reliable and accessible support services.
• Low fees: Affordable transaction costs and commissions.
• Security: Robust measures to protect your investments and data

Best trading platforms for new investors in Singapore

Let’s dive into some of the most popular trading platforms perfect for new investors in Singapore.

Platform 1: Saxo Markets

Saxo Markets is a well-established trading platform known for its comprehensive offerings and excellent customer service. It’s suitable for both beginners and experienced traders.

USPs

• Browse curated stock lists by sector.
• Use Morningstar ratings for smarter investment choices.

Features

• View your exposure by asset class, sector, country, and currency.
• Access advanced return statistics and historical trade data.

Pricing

Saxo is recognised for its competitively low fees, including a 0.03% commission per trade and no custody fees for Singapore stocks. Additionally, there is no minimum funding requirement. This makes Saxo an attractive online brokerage for regular trading on the SGX.

Learn more about SaxoInvestor.

Platform 2: Syfe Trade

Syfe Trade is a new investment platform that simplifies investing for everyone. It features a user-friendly interface and low-cost trading. With its focus on simplicity and affordability, Syfe Trade helps beginners invest confidently and easily.

USPs

• New users benefit from free trades each month for the first year.
• Syfe Trade allows fractional trading, so investors can buy portions of a share. This makes expensive stocks affordable, even with limited funds.

Features

• Over 660 SGX stocks, REITs, and ETFs available.
• Invest in a wide range of homegrown stocks, REITs, and ETFs.

Pricing

Syfe Trade charges a commission starting at 0.06% per trade, with a minimum fee of S$1.98. This rate can decrease to as low as 0.04% depending on the investor’s tier level. Additionally, there is no minimum deposit required.

Learn more about Syfe Trade.

Platform 3: IG Group

IG Group, established in 1974, is a leading online trading platform that offers a range of financial products for trading, including CFDs on indices, forex, and shares. They are known for their reliability and innovation, serving clients worldwide with a commitment to security and client success.

USPs

• Trade in over 13,000 markets, including stocks, forex, commodities, indices, and cryptocurrencies.
• Use advanced charting and analysis tools for detailed market analysis and informed trading decisions.

Features

• 24/7 support is available from Monday to Friday.
• Access free trading courses and webinars through IG Academy
• Connect with traders and receive support in the IG Community

Pricing

IG Group charges competitive commissions, starting at 0.10% per trade. Additionally, there is no minimum deposit required to open an account with IG Group.

Learn more about IG Group.

Platform 4: FSMOne

FSMOne is a popular investment platform in Singapore, known for its comprehensive range of investment products and strong customer support. Whether you’re looking to invest in stocks, bonds, or mutual funds, FSMOne provides a reliable and user-friendly platform to manage your investments.

USPs

• Easily diversify your portfolio with FSMOne investment products, including stocks, bonds, mutual funds, ETFs, and more.
• Renowned for its top-notch customer support, it provides investors with the assistance they need to navigate the platform and make informed investment decisions.

Features

• FSMOne’s platform is designed to be intuitive and easy to use, making it accessible for both beginners and seasoned investors.
• It has a wealth of educational materials, including articles, tutorials, and webinars to help investors improve their knowledge and investment skills.

Pricing

Stocks: Charges 0.08% per trade with a minimum fee of S$10 for Singapore stocks. For US stocks, it charges US$8.80 per trade.

ETFs: Fees for ETFs are similar to stocks, with a 0.08% commission and a minimum of S$10.

Bonds: Trading bonds incur a fee of 0.2% with a minimum of S$50.

Mutual funds: Charges a platform fee of 0.05% per annum on mutual fund holdings.

Opening an account with FSMOne doesn’t need a minimum deposit.

Learn more about FSMOne.

Platform 5: TD Ameritrade (now part of Charles Schwab)

TD Ameritrade, a leading online brokerage, recently merged with Charles Schwab, combining two financial giants. While TD Ameritrade stopped servicing retail clients in Singapore in 2023, the merger with Charles Schwab offers enhanced features and resources. This makes it a strong option for accredited investors in Singapore.

USPs

• Awarded Forbes Best Customer Service 2024
• Best Online Brokers 2024: 12-year winner, awarded on January 25, 2024, for 15 months

Features

• Work with licensed specialists in fixed income, options, futures, and more.
• Streamline account management with intuitive tools and market research.
• Manage investments, place trades, and stay updated with the Schwab Mobile app.

Pricing

Stocks and ETFs: $0 commission on US-listed stocks and ETFs

Options: US$0.65 per contract

Futures: US$2.25 per contract

You do not need a minimum deposit to open an account.

Learn more about TD Ameritrade at Charles Schwab.

Head-to-head comparison of Singapore’s top trading platforms

Here’s a quick comparison of the top platforms.