Advertisement
Get amazing deals when you sign up for new financial products on Seedly 🎁
26 Products Found
S$0
MINIMUM FEE
0.08%
TRADING FEES
Custodian
STOCK HOLDING TYPE
Customer Support
User Experience
"I have an account with poem, but dont know why i dont..." 3d ago
$2
MINIMUM FEE
0.03% to 0.08%
TRADING FEES
Custodian
STOCK HOLDING TYPE
📣 SIGN-UP BONUS
Stand a chance to win S$50,000 in SaxoWealthCare Grand Draw. Learn more below.
Valid till 07 Sep 2022. T&Cs apply.
Customer Support
User Experience
"i have used different trading platforms in different countries (Korea, US, and..." 3d ago
None
MINIMUM FEE
2 free monthly trades, US$1.49 per trade after
TRADING FEES
Custodian
STOCK HOLDING TYPE
Customer Support
User Experience
"Everything was very easy to use. As a first time beginner to..." 6d ago
$8.80
MINIMUM FEE
0.08%
TRADING FEES
Custodian
STOCK HOLDING TYPE
Customer Support
User Experience
"[User Interface] Easy to Use [Features] Easy to Understand [Market Access] Cash, Bonds, Funds, Stocks, ETFs [Commission Rates] Low..." 2mth ago
$2.88
MINIMUM FEE
0.04%
TRADING FEES
Custodian
STOCK HOLDING TYPE
Customer Support
User Experience
"Even though naked put was in the money, there was still 2..." 1w ago
From $0
MINIMUM FEE
0.03%
TRADING FEES
Custodian
STOCK HOLDING TYPE
Customer Support
User Experience
"[Customer Service] Good brokerage in general, responsive. User friendly interface, great welcome gift...." 1w ago
$0
MINIMUM FEE
0.06% to 0.15%
TRADING FEES
Custodian
STOCK HOLDING TYPE
Customer Support
User Experience
"I've been using ProsperUS since the start of the year, I got..." 1mth ago
$25
MINIMUM FEE
0.18% to 0.275%
TRADING FEES
CDP
STOCK HOLDING TYPE
Customer Support
User Experience
"Customer service is great. I had a responsive broker who was helping..." 14mth ago
$10
MINIMUM FEE
0.1%
TRADING FEES
Market Maker
STOCK HOLDING TYPE
Customer Support
User Experience
"I read so many stories about bitcoin loss to scams. I like..." 5d ago
$25
MINIMUM FEE
0.18% to 0.28%
TRADING FEES
CDP
STOCK HOLDING TYPE
Customer Support
User Experience
"[Commission Rates] They are a CDP holding account so rates will be higher...." 11h ago
Disclaimer: Products with a "Visit Site" button pay to access additional features
Seedly's Product Comparison Page Listing Guidelines
For Online Brokerages products to be listed on Seedly's Product Comparison Page, they have to fulfil the following criteria:
An online brokerage is an online trading platform or online broker, that helps investors (i.e. you) trade various asset classes and financial instruments.
These include indices, commodities, stocks, and forex, to name several. Trying your hand at trading has never easier as online brokers make trading increasingly accessible.
Besides investing locally, you might be thinking of investing in one of the largest markets in the world: the US stock market.
To do so, you'll need to find an investment brokerage that allows you to buy and trade US stocks:
Websites and brokers will only tell you facts like what are the fees and commissions... but there are equally important stuff like user experience, how easy it is the transfer funds, and what is the overall customer support really like which you can't get from just checking out the brokerage site.
That's where real user reviews on SeedlyReviews will help you!
Need more insight? Check out our A Singaporean Guide to Buying US Stocks With the Cheapest Brokerages!
Here's a round-up of some of the best online investment brokerages Singapore - including their fees and charges.
To invest, you need to first open a brokerage account (also known as trading account or simply a broker) with a brokerage firm.
A brokerage account is a platform that allows investors to buy and sell investment products, such as stocks, REITs and ETFs, that are listed on a stock exchange.
Brokerage firms act as intermediaries between investors and the stock exchange. Both buying and selling stocks incur small fees per transaction made as determined by individual brokerage firms.
If you're interested in Singapore-listed companies, you'll first need a CDP account and/or custodian account.*
A CDP account is direct securities account with The Central Depository (CDP). If you're keen on starting your CDP account, here's a How-To-guide on opening a CDP account.
While a CDP account allows you to you hold all purchased stocks under your name, a custodian account means your purchased stocks are held by the respective investment firms.
You won't be able to use more than the amount you've placed in your account.
We've fleshed out the pros and cons of both account types in greater detail here.
*If you're looking to trade just stock CFDs, though, neither a CDP account nor custodian account is required.
If you're new to the world of online brokerages, it's imperative to understand the differences between leveraged trading and investing.
With investing, you're granted part-ownership of a company and will receive dividends on shares and exchange-traded funds (ETFs).
Conversely, leveraged trading - also known as Contracts for Difference (CFD) trading means you don't own a stock or asset. Instead, you're putting in a sum of money to speculate a product's price movements.
Because you're only required to put in a fraction of money of the overall trade value, what then happens is the indexes can fluctuate greatly and your profits could far exceed your deposit.
Your risk of gaining or losing profits is therefore amplified as your capital could go either way. Therefore, CFD traders must have enough capital in their accounts to cover a potential loss.
With CFDs, you'll also be able to trade a wider variety of products spanning shares, indices, commodities and forex. CFDs also alloww you to trade outside of stock exchange opening hours.
CFD products include forex, shares, indices, commodities and cryptocurrencies - all of which are explained further in the next section.
There are two product classes under which products fall: asset classes, and financial instruments. Asset classes refer to things that can be traded or invested in, while financial instruments are the ways in which stocks or bonds are traded across various asset classes.
So, you're all ready to begin investing - but before that, you'll need to:
Unfortunately, you won't be eligible if you're an undischarged bankrupt (duh).
*As mentioned, you won't require a CDP account if you intend to trade just CFDs. You'll instead be required to set up an individual account for each online brokerage that you choose to trade CFDs with.
A CDP account is run by the Singapore Exchange (SGX), and functions as a centralised point from which all your stocks can be controlled and viewed. It's open to both Singaporeans and foreigners, although only locals can apply through the online form.
Essentially, your CDP ensures that any shares - whether stocks or bonds - purchased in the open market are kept safe.
There are three ways to open your CDP account:
We'd highly recommend applying online, though; it's a fuss-free, 15-minute process.
For this, you'll need to:
It takes around ten business days for an application to be processed. From there, you'll be able to use your CDP account to purchase and sell stocks, as well as vote or attend Annual General Meetings (AGMs).
While opening a CDP account is free of charge, you may incur administrative fees and trading fees. These include:
These are some factors to consider prior to choosing an online brokerage.
If you've still got more to ask after reading these real user reviews on the best online brokerage firms in Singapore, head on over to the Seedly Community! You'll be able to pose your questions anonymously, too.
Otherwise, these guides might serve you well:
Contact us at [email protected]should you require any assistance or spot any inaccuracies.
To choose the best online brokerage you first need to know your needs and your goals. Things you also need to look at includes the commission rates, account minimums, fees and charges, and the range of products on offer for investing Then you can start to match the different online brokerages that suit you best.
There are fees to consider before signing up for an online brokerage and these includes, minimum commission fees, trading fees and other fees that are specific to the usage of certain online brokerage.
Online brokerages typically provide products for investors to invest in, these include, CFDs, Stocks, REITs, ETFs, Structured Warrants, Daily Leverage, Certificates, Bonds, Futures, Mutual Funds.
There are plenty of investment strategies available and each has it's pros and cons. Here's a overall guide on which strategy suits you the best:
A diversified portfolio is an risk management strategy that aims to build a portfolio that includes components that do well in different economic situations. If ever an economic situation happens, you won't lose all the money you've invested due to the holding of investments that move independently or opposite from one another. A portfolio can be diversified by types of asset classes, geography, sectors or industries, market cap of a company and time.
An online brokerage firm a firm that helps investors trade various asset classes and financial instruments with the main interfacing medium being via the internet.
In order to start online trading, you are required to open a CDP account. You need to be at least 18 years old and possess a local bank account. The list of banks are Citibank, DBS/POSB, HSBC, Maybank, OCBC, Standard Chartered Bank, and UOB.
Online application for a CPD account takes as little as 3 to 8 minutes and it will take at least 2 weeks for your application to be completely processed.