best brokerage singapore

5 Lowest Cost Brokerage Firms for Trading Singapore Stocks

As young consumers aged 18 to 24 prioritize their financial wellness and actively invest in the Singapore stock market, finding the right brokerage firm becomes even more crucial.

With the results from the AIA Live Better Study 2023 showing a growing interest in investment portfolios among this age group, it’s evident that the youth are taking proactive steps towards securing their financial futures.

From renowned names like Saxo Markets and Interactive Brokers to emerging platforms like Syfe Trade, we’ve curated a diverse list of brokerage options that cater to both seasoned investors and those just starting.

Whether you’re an active trader seeking quick execution or a passive investor looking for robo-advisory services, our comprehensive guide has got you covered.

What Is a Brokerage Account?

A brokerage account is mainly an investment bank account which is operated by a licensed brokerage firm on behalf of an investor. Once investors deposit funds in brokerage accounts, the brokerage firm takes charge and transcats orders for investments like bonds, SG stocks, and mutual funds. As an intermediary, brokerage firms facilitate your trades, ensuring a smooth and secure process.

Whether you’re a seasoned investor or just starting, a brokerage account opens doors to endless investment opportunities.

Read Also: How to Open Brokerage Account Singapore and Tiger Brokers vs Interactive Brokers


What Is a CDP Account?

A CDP account, short for “Central Depository Account,” is a fundamental tool for investors in Singapore. It serves as a Singapore securities market for holding and managing various securities, including stocks, ETFs and bonds, in an electronic form. This account is regulated by Monetary Authority of Singapore

Think of it as your vault, safeguarding your valuable investments while simplifying buying, selling, and transferring securities seamlessly. With a CDP account, you gain greater control and visibility over your holdings, making it an indispensable asset in your journey toward financial success.

Factors to Consider

Here are the things you should consider when choosing online brokerages in Singapore:

  • Fees and Minimum Funding

One of the foremost considerations is the minimum fee of the brokerage account. Compare commission fees, account maintenance fees, minimum deposit, minimum commission fee, and other transaction costs. Look for options with low fees or zero-commission fees and flat fee that align with your trading frequency. Additionally, check the minimum funding requirements to ensure they fit your budget and investment goals.

  • Quality and Usability of the Brokerage App

A user-friendly and feature-rich brokerage app can significantly impact your trading experience. Look for platforms with intuitive interfaces, real-time market data, and easy order execution. A mobile app that provides seamless access to your account and essential stock trading tools on the go is an added advantage.

  • Automated Features and Advanced Tools

Automation can simplify your investment strategy. Seek brokerage accounts that offer automated features like dollar-cost averaging or robo-advisory services. Advanced tools like technical analysis charts and research reports can help you make well-informed decisions.

  • Market Access

Consider the range of markets and securities accessible through the brokerage account. Ensure it provides access to the markets you intend to trade in, including stocks, bonds, options, stocks ETFs, and international markets.

  • Customer Support and Educational Materials

Reliable customer support is essential when navigating the complexities of investing. Look for brokerage accounts with responsive customer service accessible through various channels. Furthermore, consider the availability of educational materials, webinars, and research resources to expand your knowledge and trading skills in the financial markets.

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Best Low Cost Brokerage Accounts in Singapore

Below are best low cost brokerage trading platforms in singapore;

Brokerage Minimum commission Fees Trading Fee Stock Holding Type
Saxo Markets S$3 0.08%  Individual and custodian
FSMOne S$8.80 (Flat Fee) 0.08%  Individual and custodian
Tiger Brokers S$1.99 0.03%  Individual and custodian
POEMS (Philip Capital)   0.28%  Individual and custodian
Syfe Trade S$ 1.49  0.06%  Individual and custodian
Interactive Brokers S$2.50 0.08%  Individual and custodian


1. Saxo Markets – Best for Global Market Access and Advanced Traders

Saxo Markets is renowned for its transparent fee structure and access to global markets. With various account types and advanced trading tools. It caters to both beginners and experienced traders. It is the best online brokerage platform.

  • Consider This If: If you’re an experienced investor seeking exposure to a wide range of global markets, this online trading platform is ideal for you. Its advanced trading tools, comprehensive research resources, and access to over 40,000 financial instruments across multiple asset classes provide ample opportunities for sophisticated trading strategies.
  • Account Type: They offer different trading account types, including Classic, Platinum, and VIP, each trading account designed to suit various trading preferences and needs. The Classic account suits most individual investors, while the Platinum and VIP accounts cater to high-volume traders with additional benefits and personalized services.
  • Products Available: Saxo Markets provides an extensive array of investment products, including equities, bonds, forex, commodities, futures, options, crypto,US stocks and ETFs. 
  • Account Opening: Visit their website
  • Fees:
    • Minimum Fees – S$3
    • Trading Fees – 0.08%
  • Promotions: Earn up to SGD 750 per referral

2. FSMOne – Best for Diversified Investment Options and DIY Investors

FSMOne is a leading online brokerage platform that has gained popularity among investors in Singapore. Backed by iFAST Corporation, FSMOne offers a user-friendly interface and a vast selection of investment products. It caters to seasoned investors and DIY traders, providing access to diverse financial instruments.

  • Consider This If: If you prefer a DIY approach to investing and seek a platform with a broad selection of investment options.. It’s an excellent choice for investors who want to customize their portfolios with various assets and prefer a self-directed investment journey.
  • Account Type: FSMOne offers a single account type, simplifying the opening process. This account provides access to a comprehensive suite of investment products, allowing investors to trade stocks, bonds, unit trusts, and exchange-traded funds (ETFs) all in one place.
  • Products Available: FSMOne boasts an extensive range of investment products, making it a go-to platform for diversified investments. Investors can enjoy local and international stocks, government and corporate bonds. Also, they can explore a variety of unit trusts, local and international US stocks and ETFs..
  • Account Opening: Visit their website
  • Fees:
    • Minimum Fees – S$8.80
    • Trading Fees -0. 08%
  • Promotions; Starting 10 July 2023 to 4 August 2023, you get S$ 10 bonus units for each S$10000 invested in your selected units. 

3. Tiger Brokers – Best for Active Traders and Global Market Access

Tiger Brokers is a renowned online brokerage platform that has gained popularity for its focus on active trading and global market access. This online broker was founded in 2014, and the online trading platform offers cutting-edge technology and a seamless user experience, making it a preferred choice for traders looking to capitalize on fast-paced market opportunities.

  • Consider This If: If you’re an active trader seeking quick execution and access to global markets. Its advanced trading tools, real-time market data, and low latency order execution cater to the needs of frequent traders aiming to seize every trading opportunity.
  • Account Type: Tiger Brokers offers a single account type designed to meet the needs of various investors. 
  • Products Available: Tiger brokers gives a variety of products including options, features, stocks and ETFs. 
  • Account Opening: Visit their website
  • Fees:
    • Minimum Fee – S$1.99
    • Trading Fee – 0.03%
  • Promotions: Enjoy free gifts amounting to SGD 410 alongside an interest bonus of 6% p.a once you open an account.

4. POEMS (Phillip Capital) – Best for Comprehensive Research and Educational Resources

POEMS is a well-established online brokerage platform that has been serving investors for decades. With a strong presence in Singapore and other Asian countries, POEMS is known for its reliability and comprehensive suite of investment services. 

The platform caters to both beginner investors and seasoned traders, offering a wide range of tools and resources to support investors at every stage of their journey.

  • Consider This If: You value in-depth research and educational resources to make well-informed investment decisions. The platform provides a wealth of market insights, analysis, and educational materials, making it an excellent choice for investors seeking to expand their knowledge and trading skills.
  • Account Type: From cash accounts for traditional trading to margin accounts for leveraging opportunities, POEMS provides flexibility in tailoring your investment approach.
  • Products Available: POEMS boasts an extensive range of investment products, including equities, bonds, unit trusts, futures, stocks and ETFs. Investors can access both local and international markets, empowering them to create diversified portfolios.
  • Account Opening: Visit their website
  • Fees:
    • Minimum Fee – Nil
    • Trading Fee – 0.28%
  • Promotions: Get zero commissions whenever you trade Thai SDR CFDs. This promotion runs from 15 June to 29 September 2023.

5. Syfe Trade – Best for Robo-Advisory Services and Passive Investors

Syfe Trade is a leading robo-advisory trading platform in Singapore, revolutionizing the way investors manage their portfolios. As part of Syfe’s suite of investment offerings, Syfe Trade caters to passive investors seeking a hands-off approach to wealth management. 

The platform leverages cutting-edge technology and data-driven algorithms to create customized portfolios that align with individual financial goals and risk tolerance.

  • Consider This If: If you prefer a hassle-free investment experience and want to benefit from automated portfolio management,this online trading platform is for you. The platform is ideal for investors seeking a passive investment strategy while enjoying the convenience of automated rebalancing and smart tax-loss harvesting.
  • Account Type: Syfe Trade offers a seamless and intuitive platform. By signing up for a Syfe Trade account, investors can access personalized portfolios tailored to their financial objectives and risk preferences.
  • Products Available: Investors can choose from ETF-based portfolios that offer exposure to global markets and a balanced mix of asset classes.
  • Account Opening: Visit their website
  • Fees:
    • Minimum Fee – $1.49
    • Trading Fee – $1.49
  • Promotions: Experience the first 3 months on wealth managed absolutely free and an equivalent of $20 cash on trade once you sign up.

6. Interactive Brokers – Best for Active Traders and Global Market Access

Interactive Brokers (IB) is a best online brokerage account renowned for its advanced trading platform and extensive global market access. Founded in 1978, IB has a strong presence in the financial industry, catering to a diverse clientele of individual investors, institutions, and hedge funds. With a focus on technological innovation, IB provides cutting-edge tools and services to support active traders and sophisticated investors.

  • Consider This If: IB is the perfect fit if you’re an active trader or institutional investor seeking comprehensive market access and sophisticated trading tools. Its robust platform, real-time market data, and vast range of investment options make it ideal for those aiming to capitalize on global market opportunities.
  • Account Type: Whether you require an individual, joint, or institutional account, IB provides flexibility to suit your investment preferences.
  • Products Available: IB provides an extensive selection of investment materials, including bonds, options, futures, forex, stocks and ETFs. Investors can access over 135 global markets, allowing for diverse Singapore exchange trading opportunities.
  • Account Opening: Visit their website
  • Fees:
    • Minimum Fees – S$2.50
    • Trading Fees – 0.08%
  • Promotions: New customers enjoy $1000 in IBKR stock the whole of July 2023.

young male looking at monitor with graphs

Related Questions (FAQs)

1. What’s the Difference Between a CDP and a Custodian Account?

The primary difference between a CDP (Central Depository Account) and a custodian account lies in ownership and purpose. A CDP account is a direct account held by individual investors with the central depository, providing them with direct ownership and control over their securities, such as stocks ETFs and bonds. 

On the other hand, custodian accounts are typically held by financial institutions, acting as an intermediary on behalf of clients to hold and safeguard their investments. Even though the two accounts offer a secure way to keep securities, the CDP account provides investors a more direct and individualized approach. On the other hand, custodian accounts are mostly utilized by institutions and international investors to regulate bigger portfolios across several markets.

2. Are Online Brokerages Safe?

Yes, you can find many online brokerages platforms in Singapore which are safe. The online trading platforms use advanced security measures like encryption protocols and two-factor authentication, to safeguard user data and transactions. 

However, investors should exercise caution and only work with the best online brokerages or reputable online trading platforms in Singapore to reduce fraud. They have to do their research and follow reviews before dealing with online brokerage accounts.

3. Can You Invest in the US Stocks Market?

Yes, you can invest in the US stocks market as an individual investor. Multiple online platforms provide access to US stocks and enable investors around the globe to do stock trading in the US stocks market. 

You can get shares of US-listed companies, stock ETFs, and other securities, depending on the regulatory requirements as well any restrictions laid by your country’s origin.. 

4. What are the Different Investment Strategies?

There are various investment ideas tailored to different risk appetites and financial goals. Common strategies include “Buy and Hold,” where investors hold assets for the long term, “Dollar-Cost Averaging,” which involves investing fixed amounts regularly regardless of market fluctuations; and “Value Investing,” where investors seek undervalued stocks for potential long-term growth. 

Selecting the right strategy depends on individual preferences and investment objectives.

5. Why Diversify Portfolios?

Diversifying a portfolio is essential to manage risk and enhance long-term returns. The impact of individual asset volatility is minimized by spreading investments across different asset classes, industries, and geographic regions. 

Diversification reduces the reliance on the performance of any single investment, thus safeguarding against significant losses. Moreover, it allows investors to capture potential growth opportunities in various sectors, ensuring a more balanced and resilient investment approach in ever-changing market conditions.


The 6 lowest cost brokerage firms we’ve explored – Saxo Markets, FSMOne, Tiger Brokers, POEMS, Syfe Trade, and Interactive Brokers – offer diverse options to cater to different investor needs and preferences.

From advanced trading tools and global market access to robo-advisory services and passive investment strategies, these platforms have something to offer for everyone. However, it’s essential to consider factors such as fees, usability, automation, market access, and customer support when making your decision.

Key Takeaways

  • Investors can benefit from the diverse offerings of these best online brokerage platforms, such as advanced trading tools, automated features, and comprehensive research resources.
  • Different brokerage trading platforms in Singapore target specific investor profiles, with some focusing on traders and others on passive investors seeking robo-advisory services.
  • Investors can make informed decisions by comparing each trading platform fee structures, account types, and promotions, tailoring their choice to align with their financial goals and risk tolerance before they purchase stocks..

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