facebookBest Online Brokerage Trading Accounts in Singapore 2022 - Seedly
Updated July 2022

Best Online Brokerages in Singapore 2022

Compare and read real user reviews on Online Brokerage to find out the best Online Investment Brokerage Accounts in Singapore. Learn about brokerage fees, trading platforms, investment options and how to open an online trading account.

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26 Products Found

    S$0

    MINIMUM FEE

    0.08%

    TRADING FEES

    Custodian

    STOCK HOLDING TYPE

    Customer Support

    4.4

    User Experience

    4.3
    YG Lim

    "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

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    Dot Pattern
    Handphone

    Customer Support

    4.3

    User Experience

    4.4
    Yongwook Ryu

    "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

    5.0

    User Experience

    5.0
    Rafaila Rashid

    "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

    4.5

    User Experience

    4.3
    RC

    "[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

    3.9

    User Experience

    4.3
    C

    "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

    4.3

    User Experience

    4.3
    Ng Eng Sean

    "[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

    4.7

    User Experience

    4.4
    SeanReferral

    "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

    4.5

    User Experience

    4.3
    Oh ChengKok

    "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

    4.5

    User Experience

    4.4
    Debra Amy

    "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

    3.2

    User Experience

    2.7
    shesha

    "[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:

    • Is an SGX partner retail brokerage OR
    • Owns a Capital Markets Service License

    What Is An Online Brokerage?

    online investment brokerages in singapore

    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.

    Best Investment Brokerage Platform for US Stocks 2021

    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:

    best investment brokerage platforms for US Stocks 2021

    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!

    Compare the Best Online Brokerage Account in Singapore 2021

    Ultimate Online Brokerage Platforms in Singapore 2021

    Here's a round-up of some of the best online investment brokerages Singapore - including their fees and charges.

    CGS-CIMB iTrade

    • Products Available: CFDs, Stocks, REITs, ETFs, Structured Warrants, Daily Leverage Certificates, Bonds, Futures, Mutual Funds
    • Fees and Charges for CASH ACCOUNT
      - Minimum Commission Fee: S$25
      - Trading Fees: 0.18% - 0.275%
      - Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      - Min Commission Fee: S$18
      - Trading Fees: 0.18%
      - Account Type: Custodian
    • For Buying US Stocks:
      - Min. Fee: US$ 18
      - Commission: 0.18%
    • Trading Platform: Internet, Mobile, Broker-assisted Investment Service Centre

    DBS Vickers Securities

    • Products available: Stocks, REITs, ETFs, Bonds, Structured Warrants, Daily Leverage Certificates, American/ Global Depository Receipts (ADR)
    • Fees and Charges for CASH ACCOUNT
      Minimum Commission Fee: S$25
      Trading Fees: 0.18% - 0.28%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$10
      Trading Fees: 0.12%
      Account Type: CDP
    • *DBS Vickers Cash Upfront is only applicable to buy trades. For sell trades, the commission to sell is$25.
    • For Buying US Stocks:
      - Min. Fee: US$ 18
      - Commission: 0.15%
    • Trading Platform: Internet, Mobile, Broker-assisted Investment Service Centre

    FSMOne FundSupermart

    • Products available: Stocks, REITs, ETFs, Bonds, Funds
    • Fees and Charges for CASH ACCOUNT: -
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$10
      Trading Fees: 0.08%
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$ 8.80
      Commission: 0.08%
    • Trading Platform: Internet, Mobile, Broker-assisted Investment Service Centre

    KGI Securities / KGI Connex

    • Products available: Stocks, REITs, ETFs, ADRs, Warrants, Futures
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18%- 0.275%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$25
      Trading Fees: 0.18%
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$ 20
      Commission: 0.30%
    • Trading Platform: Online Platform Broker Assisted, Mobile

    Lim & Tan Securities

    • Products available: CFDs, Stocks, REITs, ETFs
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18%- 0.28%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$12
      Trading Fees: 0.18%
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$ 20
      Commission: 0.30%
    • Trading Platform: Online Platforms, Mobile, and Broker Assisted

    Maybank Kim Eng

    • Products available: CFDs, Stocks, REITs, ETFs, Forex
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18%- 0.275%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$10 (*note: this is a promotional rate)
      Trading Fees: 0.12%
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$ 20
      Commission: 0.30%
    • Trading Platforms: Online Platforms, Mobile, and Broker Assisted

    Moomoo

    • Products available: Stocks, Options, ETFs, Futures, REITs. Warrants are coming soon
    • Fees and Charges for CASH UPFRONT Trading Account
      Commission: 0.03% * transaction amount, Minimum SGD 0.99 (zero during the commission-free period)
      Platform Fees: 0.03% * transaction amount, minimum SGD 1.50
      Trading Fees: 0.0075% * transaction amount (charged by SGX)
      Account Type: Securities with Margin
    • For Buying US Stocks:
      Min. Fee: 1.99 USD for US shares including platform fee and comm 
      Commission: 0% during promotional periods
      Trading Fees: USD$ 0.0099/Share, and USD$ 0.005/Share during non-promotional and promotional periods respectively. (Both inclusive of platform fees)
    • Platforms: Mobile (App Store and Google Play Store), Windows,¬†MAC, Open API
    • Read the full blog review on Moomoo vs Tiger vs Interactive Brokers

    OCBC Securities iOCBC

    • Products available: Stocks, REITs, ETFs, Warrants, ADRs, Futures, Forex, Precious Metals
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18%- 0.275%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$18
      Trading Fees: 0.18%
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$ 20
      Commission: 0.30%
    • Platforms: Online Platforms, Mobile, and Broker Assisted

    Phillips Capital POEMS

    • Products available: Stocks, REITs, ETFs, Warrants, ADRs, Futures, Forex, Precious Metals
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18%- 0.275%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: Waived, No minimum
      Trading Fees: 0.08 %- 0.12%
      Account Type: Custodian
      Others; $15 quarterly account maintenance fee - can be waived
    • For Buying US Stocks:
      Min. Fee: US$ 20
      Commission: 0.30%
    • Platforms: Online Platforms, Mobile, and Broker Assisted

    RHB Securities

    • Products available: Stocks, REITs, ETFs, Warrants, ADRs, Futures, Mutual Funds
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18%- 0.275%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account -
    • For Buying US Stocks:
      Min. Fee: US$ 20
      Commission: 0.30%
    • Platforms: Online Platforms, Mobile, and Broker Assisted

    Syfe Trade

    • Products available: Stocks, ETFs
    • Fees and Charges for CASH UPFRONT Trading Account
      Commission: US$0.99 per trade after 5 free trades/month
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$0.99 per trade
    • Commission: US$0.99 per trade after 5 free trades/month
    • Platforms: Mobile

    Standard Chartered Online Trading

    • Products available: Stocks, REITs, ETFs, Bonds, Unit Trust, Commodities, Forex
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18%- 0.275%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$10
      Trading Fees: 0.20% - 0.18%
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$ 10
      Commission: 0.25% / 0.20% (for Priority Banking CLients)
    • Platforms: Online Platforms, Mobile, and Broker Assisted

    SAXO Markets Trading

    • Products available: Stocks, CFDs, ETFs, Forex, Futures, Bonds, Commodities, Forex, Mutual Funds
    • Fees and Charges for CASH ACCOUNT: -
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$5
      Commission Rate: 0.08%
      Custody Fee: 0.12% p.a
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$3 - $4
      Commission: 0.04% (VIP) - 0.06% (Classic)
      Custodian Fees: 0.12% p.a.
    • Platforms: Online Platforms, Mobile, and Broker Assisted

    UOB UTRADE Kay Hian

    • Products available: Stocks, CFDs, ETFs, Bonds, DLCs, Unit Trusts
    • Fees and Charges for CASH ACCOUNT:
      Min Commission Fee: S$25
      Trading Fees: 0.18% - 0.275%
      Account Type: CDP
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: S$10
      Trading Fees: 0.08%
      Custody Fee: 0.12% p.a
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$20
      Commission: 0.18%
    • Platforms: Online Platforms, Mobile, and Broker Assisted

    Tiger Brokers

    • Products available: Stocks, Futures, REITs, Warrants
    • Fees and Charges for CASH ACCOUNT: -
    • Fees and Charges for CASH UPFRONT Trading Account
      Min Commission Fee: $2.88
      Trading Fees: 0.08%
      Account Type: Custodian
    • For Buying US Stocks:
      Min. Fee: US$1.99
      Commission: US$0.01 per share
    • Platforms: Online Platforms, Mobile, and Broker Assisted
    • Read Tiger Brokers In-depth Review on our blog

    Types of Brokerage Accounts

    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.

    CDP vs Custodian Accounts

    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.

    Leveraged Trading (CFDs) vs Investing (ETFs): What's the Difference?

    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.

    What Types of Products Are Offered By Online Brokerages?

    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.

    Asset Classes

    • Forex (FX)
      Forex trading refers to the market in which currencies are traded. They're also always traded in pairs, and behave similarly to the buy/sell system at money changers. Buying EUR/USD, for example, essentially means receiving EUR in exchange for USD. Should the EUR strengthen against the USD, you'll make a profit - or loss, if the reverse happens.
    • Commodities
      What makes this asset class unique is that you're trading in natural or grown commodities. Examples include gold, energy, oil and agriculture, all of which are affected by fluctuations in the economy - or even weather developments.
    • Equities
      Equities - also known as stocks or shares - give you part-ownership in a company. When you invest in equities, you're offered dividends (or payouts) based on the company's earnings. In a sense, it offers less stability than bonds, since you aren't guaranteed returns.
    • Bonds
      Unlike equities, bonds don't give you part-ownership of a company. Instead, you're 'lending' a company money - in exchange for the promise of returns within a certain timeframe. You'll also be guaranteed a fixed interest rate as indicated at the time of the bond's issuance.
    • Indexes/Indices
      Indices are a measure of changes in the securities market. The securities market, then, refers to stocks or bonds. You'd likely know of the Straits Times Index (STI), which lists the top 30 companies in Singapore. You'll typically be able to learn more about STI stocks through ETFs and CFDs.
    • Real Estate Investment Trusts - REITs
      A REIT pools money from investors to invest in a portfolio of income-generating real estate assets.
      These assets can be shopping malls, offices, industrial buildings, hotels, or even data centres.

    Financial Instruments

    • Contracts for Difference (CFDs)
      A Contract for Difference (CFD) refers to an agreement between you and a brokerage - one in which you receive the difference in an asset's value between the time it was purchased and closed. CFDs include asset classes such as shares, commodities, indices and forex, as mentioned above.
    • Exchange-Traded Funds (ETFs)
      What happens when you can't decide which companies to invest in? That's where ETFs come in: you're offered access to a range of companies. ETFs are traded on the stock exchange. In Singapore, two popular ETFs include the SPDR STI ETF (SGX: ES3) and Nikko AM STI ETF (SGX: G3B).
    • Futures
      As its name suggests, futures are contracts in which you buy a specified amount of asset classes - think indices, commodities, forex and equities - at a set time and price in the future.
    • Mutual Funds
      Mutual funds refer to funds that are collected from a pool of investors to purchase securities across asset classes. This diversification means mutual funds are generally viewed as safer investments.

    How to Create an Online Brokerage Account

    So, you're all ready to begin investing - but before that, you'll need to:

    • Open a CDP Securities Account* (find out how to set yours up below!)
    • Be at least 18 years old

    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.

    How to Set Up A CDP Securities Account

    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:

    • Through a brokerage firm,
    • Online or via mail, or
    • In-person at the SGX CDP Customer Service counter

    We'd highly recommend applying online, though; it's a fuss-free, 15-minute process.

    For this, you'll need to:

    • Ensure you have a local bank account. These include Citibank, DBS/POSB, HSBC, OCBC, UOB, Maybank and Standard Chartered Bank
    • Fill out the necessary application form, or sign up using MyInfo. The latter option's only available for Singaporeans and PRs.
    • Prepare your supporting documents. These include your identification card; a recent e-statement from a local bank, CPF or IRAS; a scanned copy of your signature, and your Tax Identification Number (TIN).

    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).

    Fees to Know

    While opening a CDP account is free of charge, you may incur administrative fees and trading fees. These include:

    • Brokerage fees: For every transaction made (i.e. for every stock that is bought or sold), the brokerage charges a minimum fee, and a trading fee based on the size of your transaction. For instance, SAXO Markets charges a minimum fee of US$4, and a trading fee of 0.06% per transaction.
    • Clearing and trading fees: Completing a transaction using your CDP account means additional, albeit minute, fees. Clearing fees are chargeable at 0.0325% of your purchase; meantime, trading fees incur a 0.0075% charge.
    • Custodial fees: This refers to fees collected from brokerages that are holding your stock. It only applies to purchases made through your custodian account, and varies per brokerage. In some instances, the online brokerage might not charge a custodian fee for certain products - as in the case of stock and ETF holdings on FSMOne.
    • Others: If you're trading in the US market, selling your shares incurs something called a Securities and Exchange Commission (SEC) fee.

    How To Choose The Best Online Investment Brokerage Firm

    These are some factors to consider prior to choosing an online brokerage.

    • How much do you intend to invest? Because of the minimum fees imposed per transaction, you might want to consider investing a slightly larger sum to get your money's worth. Trading fees typically go down the more you invest - as in the case of DBS Vickers, which charges 0.28% on a contract amount between $50,000 to <$100,000. This trading fee goes down to 0.18% for a purchase of $100,000 or more.
    • Do you understand your trades? Stocks, Forex, Indices, Commodities, Exchange-Traded Funds: do you know what purpose each serves, and how they work? You should also note time differences if you're trading in international stock markets. That's especially if you intend to track fluctuating price movements in real-time.
    • What will give you maximum returns? We know: there isn't an answer to this, but that's the beauty of playing the stakes. Instead, we recommend choosing a company with the lowest brokerage and trading commission fees.
    • Which Platform suits your needs? Different brokerages offer different trading platforms such as online, iOS applications and/or android applications. Is the interface user-friendly? And are you able to seek assistance when you need it? Based on your preference, pick a platform suitable for you.

    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:

    Cheapest Brokers To Buy US Shares in Singapore

    Contact us at [email protected]should you require any assistance or spot any inaccuracies.

    Frequently Asked Questions

    How do I choose the best online brokerage?

    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.

    What are the types online brokerage fees or costs?

    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.

    What are the types of products offered by online brokerages?

    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.

    What are the different types of investment strategies?

    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:

    • If you have a high tolerance for risk and have a long investment horizon the investment horizon then you might want to consider adopting the buy and hold strategy, the growth strategy or the value investing strategy.
    • If your tolerance for risk and investment horizon is moderate then perhaps dividend strategy and value strategy is the way to go.
    • If you have a low tolerance for risk with a short investment horizon, you might just stick with dividend investing strategy.

    What is a diversified portfolio?

    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.

    What is an online brokerage?

    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.

    Who can open an online trading account?

    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.

    How long does it take to open a new trading account?

    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.