Top 10 Micro-Investing Apps in Singapore for Beginners

If you’re installing an investment app on your phone, you may be surprised by the number of pop-ups related to the growing popularity of micro-investing platforms. 

With the current surge of investment apps in Singapore, it can be confusing to determine which one is the best. Is this a passing trend or an industry evolution? Which investment apps are worth considering? Keep reading to find out.

What’s Micro-Investing?

Micro-investing involves investing in stocks or ETFs with small sums of your money. Investors can grow into sizable wealth through consistent micro-investing by a few dollars over time if doing the right investing.

You may know that stock investing, reserved for the wealthy, requires significant capital. With advanced technology, you can invest through an investing app with several dollars saved from cups of coffee. Micro-investing helps you reach your financial goals with a petty sum each time.

Can You Make Money by Micro Investing?

Yes, you can potentially make money by micro-investing. Micro-investing allows you to invest small amounts of money in the stock market through a user-friendly investing platform. Over time, these investments can compound and potentially grow into significant wealth.

However, the returns you earn will depend on several factors, including:

• Your investment choices
• Investment horizon
• Risk appetite, and
• Investment goals. 

The potential growth of different stocks varies greatly, so it’s important to choose your investments carefully. High-growth stocks, like technology stocks such as Google and Tesla, may offer higher returns, but also come with higher risks.

Consistent investing is also key to maximizing your returns. By regularly investing small amounts of money through a micro-investment app, you can benefit from the compounding effect and potentially grow your wealth faster than with a one-time investment.

Who is it for? 

Micro-investing is a new investing form bred by the technology evolution allowing more investors to join in the games. Three following types of investors are active in micro-investing:

Young or inexperienced investors: With a tiny sum as low as several dollars, young investors like millennials learn how to invest for growth without paying heavy prices like in the past. Valuable investing experience not only strengthens the foundation for future investment but can create a habitual investing pattern as a crucial step for goal investments.

Budget investors: Unlike in the past, investing is only for the wealth, Now, investors with limited resources can start buying stocks or ETFs with a mobile phone on hands and dollars in double digits only. Micro-investing opens a new to small investors for wider investing choices.

Investors with diversified options: With micro-investing apps, investors can purchase fractional shares for a few dollars. Fractional shares are stock whose value is broke  down into one-tenth or smaller of stock and offer to investors by brokerages. Small-sum investors have more opportunities to buy shares with high face value with the service.

10 Micro-investing Apps in Singapore

With the rise of investment apps in Singapore, it can be overwhelming to choose the right one that fits your investing goals and style. To help you with your decision, we have analyzed and compiled a list of the top 10 micro-investing apps available in Singapore. Find the perfect app for your investment needs by referring to the analysis below.

At a Glance

1. uSmart Securities

Headquartered in Singapore, uSmart, backed by Hong Kong Conglomerate: Chow Tai Fook Enterprise, is an international tech-driven securities company offering an all-in-one investment platform that gives investors an easy investing journey. 

uSmart has received prestigious industry awards, such as “Group CEO Torry Hong Nasdaq Asian Leaders of 2022”, “Outstanding Online Brokerage Award 2022, and “Outstanding Mobile (AI)Investment Mobile App 2022.” 

Key Features

• Various trading orders: Offering various functions, for example, SMART Order types, Pre/Post market trading, and Daily Stock Picks to facilitate making investment decisions.
• Fractional shares service: one of 3 institutions in Singapore to provide the service so that investors can buy some specified shares for as low as a dollar.
• Educational material: Abundant learning information to aid investors about investments for free.

Fees

• S$0 for US, SG and HK stocks and ETFs
• USD0.5 per contract
• Inactivity fee: 0

Minimum investment amount: 0

Investment options

• US, SG, and HK stocks
• US options
• Futures
• FX CFDs

2. Tiger Brokers(TIGR)

Founded in 2014 and listed on Nasdaq, Tiger Brokers is a leading online trading platform providing a wide range of products and services across the US, Singapore, Hong Kong, and Australia.

Tiger Brokers, holds licenses in the US, Singapore, Hong Kong, Australia, and New Zealand, has solid support from backers like Interactive Brokers, Xiaomi, ZheFund, and the investor: Mr. Jim Rogers.

Key features

• Fractional share service: Tiger Brokers offers the US fractional shares of fast-growing stocks for a few dollars.
• Access to more markets: Investors can invest in stocks and other investments across the US, SG, HK, China(through HK), and Australia.
• Free educational materials: Plentiful training contents are available to members of the Tiger community to learn to invest.
• A 24/7 customer hotline is available to customers.

Fees

• S$1.99 per order for SG stocks and ETFs
• 0.06% of trade value for US stocks and ETFs
• 0.06% of trade value for HK stocks & ETFs
• Forex fee: S$1.99 commission + S$1 platform fee

Minimum investment amount: 0

Investment options

• US, SG, HK, and Australian stocks
• Fractional shares
• Auto-invest program
• Fund Mall
• United Fixed Maturity Bond Fund 1

3. Syfe Trade

Established in 2019 and headquartered in Singapore, Syfe provides leading investing platforms to its investors across Singapore, Hong Kong, and Australia. Syfe’s investors include DST Global, KKR, and UBS. The company’s clients have exceeded 100,000.

Key features

• Friendly user interface
• Real-time stock quotes
• Fractional share service: Investors can buy a fractional share for a dollar.
• Monthly free trade offer: New investors get 5 free trades and usd1.99 per trade for the first 3 months and 2 free trades a month and USD1.49 per trade thereafter.
• Integrated digital support

Fees

• US stocks and ETFs: 0
• SG stocks and ETFs: 0.06% of trade value, the minimum commission: S$1.98 per order
• Inactivity fee: 0

Minimum investment amount: 0

Investment options

• Investment portfolio services: Core equity100, Growth, Balance, and Defensive
• REITs
• Cash Portfolios

4. Webull Singapore

Headquartered in Singapore in 2021, Webull aims to serve the Asia Pacific region. Webull offers an all-in-one self-directed investment platform providing quality user experience, advanced tools, and services. 

Key features

• Fractional shares as low as USD5
• Access to the US and Hong Kong markets
• Extended trading hours: Offer 16-hour trading from the US market
• A 24/7 customer service
• Integrated digital support

Fees

• 0 commission, 0 platform fee, 0 membership fee, 0 settlement fee for the US stocks, options, and Hong Kong stocks
• The margin interest rate can be as low as 0.
• Fractional shares can be as low as USD5.
• Zero subscription and redemption fee for mutual funds

Minimum investment amount: 0

Investment options

• US and HK stocks
• ETFs
• Options
• Forex
• Crypto

5. Moomoo Singapore

Based in California, US, Moomoo Technologies Inc. is a wholly-owned subsidiary of FUTU Holdings LTD, a financial technology company transforming investing experience by offering a fully digitized brokerage and wealth management platform. FUTU has strong investors’ back-up, for instance, Tencent, Sequoia Capital, and Matrix Partners. FUTU got the best online broker award CAMAHK from Bloomberg Offshore China Fund Awards 2017 and China leading Fintech 50 by KPMG(2017/2016). 

Key features

• Lifetime commission-free for US stocks
• More than 100 investment analytical tools: Moomoo provides a toolbox of comprehensive tools like charts, pies, and other analytical tools helping investment capture opportunities.
• Free level 2 market data
• Free level 1 Singapore market data
• Free level 1 China A-share market data

Fees

• US stocks and ETFs: 0
• SG stocks and ETFs: 0.03% of trade value
• HK stocks and ETFs: 0.03% of trade value
• Inactivity fee: 0

Minimum investment amount: 0

Investment options

• Stocks, ETFs, Options, Leveraged forex, Margin financing
• Singapore structured warrants and DLCs
• Hong Kong warrants and CBBCs
• Futures
• Mutual funds

6. SAXO

A subsidiary of SAXO Bank A/S and headquartered in Denmark, SAXO has established itself as an online trading platform connecting investors and traders to global financial markets since 1992. Clients have access to over 70,000 financial instruments on its industry-leading platforms. 

SAXO gains awards of the best app for trading from the 2022 Winner of the BrokerChooser, the Best broker of 2022 winner of Cashcow, and the Best prime-of-prime house of 2022 Winner FX Week.

Key features

• Access to over 22,000 stocks and 6,400 ETFs across 37 markets.
• Offering in-depth analysis and tools needed to investors
• A 24/7 customer service
• Customers of SAXOTrader Pro can access lower prices, one-on-one advice from SAXO’s trading experts, and other benefits like VIP network and events.

Fees

• US stocks and ETFs: USD1 per order
• SG stocks and ETFs: S$1 per order
• Bonds: 0.05% of contract value
• Commodities: 0.05% of contract value

Minimum investment amount: 0

Investment options

• Comprehensive products like stocks, bonds, futures, forex, commodities, options, ETFs, mutual funds, crypto
• 3 types of trading platforms: SAXOInvestors, SAXOTraderGo, SAXOTraderPro
• Margin trading

7. Interactive Brokers for Global Investors

Established in Greenwich, Connecticut, US, in 1977, the parent group IBKR, a listed company on NASDAQ, has been providing comprehensive investment products and services to investors with its access to over 150 markets worldwide. 

Key features

• Access to over 30 global exchanges worldwide, including Japan, Australia, Hong Kong, Singapore, and the US
• Access to IBKR Campus offering rich educational material like video and online courses concerning investing knowledge
• The Consult IBot, the artificial intelligence system with access to account data and trading tools
• The IB SmartRoutingSM system provides price improvements over the industry.
• Access to Impact Dashboard to identify companies sharing the same values with investors

Fees

• US stocks and ETFs: USD1
• SG stocks and ETFs: S$2.5
• Mutual funds: EUR4
• Options: USD1

Minimum investment amount: 0

Investment options

• Stocks, forex, ETFs, options, mutual funds
• Bonds
• Futures
• CFDs
• Commodities

8. PhillipCapital(POEMS)

Headquartered in Singapore, PhillipCapital has developed into a global network across 15 countries, including the USA, UK, Japan, Hong Kong, and China, since 1975. The group, including its subsidiaries, has managed assets of USD35 billion for its 1 million worldwide.

Philip Securities was the first broker to launch an online investing platform in 1996 and the Contract-For-Differences(CFD) in 2003. The company was awarded the Most Preferred Local Brokerage Firm at the 2018 IShareInvestor Awards. PhilipCapital offers various products and services, including stocks, bonds, CFDS, mutual funds, ETFs, commodities, portfolio services, and margin trading.

Key features

• Access to over 40,000 products and 26 markets worldwide
• POEMS 2.0: the latest trading platform of desktop and mobile versions provides multi-order types, research, ChartWizz, Chart-live, account management, and stock analytics to facilitate investors on trading.
• 24.7 customer support and chatbox service
• Specialized and education services available at 15 branches across the island
• Offering CPD-linked account service, management account, margin financing services, and a comprehensive range of investing services like CFDs, warrants besides traditional ones like stocks bonds, and options

Fees

• US stocks and ETFs: USD3.88, SG stocks and ETFs: 0
• HK stocks and ETFs: 0.05% of trade value(min. HKD15)
• Forex: 0 with a spread of a low of 0.6 pips
• Inactivity fee: 0

Minimum investment amounts: USD5,000

Investment options

• Stocks and bond trading services
• Portfolio services
• CFD, DLC services
• ETFs, mutual funds
• CDP-linked and custodian account services

9. TD Ameritrade

A wholly-owned subsidiary of Charles Schwab Corporation(NYSE: SCHW), TD Ameritrade has a cutting edge on the US market concerning its trading technology, free commission-free trading, and outstanding customer service.

The award-winning trading platform: “Thinkorswim” offers beginners to advanced traders a seamless investing experience while they stay connected with the market on the go. The “Thinkorswim” app is available on desktops and mobile phones, so clients can trade anytime and anywhere.

Key features

• “Thinkorswim” platform: TD Ameritrade offers plentiful educational material, including online and live-in demonstrations to teach clients how to harness the power of the platform and best execute their trading strategies.
• TD Ameritrade provides all-around customer support, including phone, e-mail, online, and in-person.
• Clients can have complimentary access to derivative trading experts.

Fees

• US stocks and ETFs: 0
• Platform fees: 0
• Options: USD0.7 per contract
• Futures and futures options: USD2.41 per contract

Minimum investment amounts: USD3,500

Investment options

• Stocks
• Bonds
• ETFs
• Mutual funds
• Future options

10. ProsperUS

Established in 2020 by CGS-CIMB, ProsperUS has the backup of CIMB, Malaysia, to offer the best investing platform for millennial investors. The fintech gives clients access to 25 markets worldwide, over 30 exchanges, and 30,000 investment instruments. ProsperUS aims to provide an alternative to millennial investors looking to increase their wealth.

Key features

• An investment platform created for millennial investors
• Portfolio services comprising multi-products customized for clients’ risk appetites
• A ProsperUS club where members can exchange their investment experience
• Stay up to date with a monthly newsletter for the latest and updated investment news
• Offer easy-to-understand investment portfolios with multi-assets, so millennials are confident of investing.

Fees

• US stocks and ETFs: USD5
• SG stocks and ETFs: 0.06% of trade value
• US stock CFDs: USD0.012 per contract
• SG stock CFDs: S$0.13% of trade value

For more information, please refer to the official website

Minimum investment amount: 0

Investment options

• Stocks
• Bonds
• ETFs
• Options
• CFDs

For more information about the fees, please refer to official websites.

Are Micro-Investing Apps Worth It? Pros and Cons

You can start investing by linking a brokerage account from a micro-investing app with your savings or checking account. But risks are inherent besides advantages; therefore, you should know them.

Pros

• Diversification: You can reduce investment risks by investing in ETFs, which are available to significant investments but now available to micro-investing. By buying with small sums of money, you can diversify risks by investing in an ETF covering numerous stocks in a market.
• Auto-investing: A remarkable feature of a micro-investing app lets you auto-invest by transferring your money from your bank account to stock markets in regular periods, for example, monthly. The program allows you to invest hassle-free.
• Low fees and investment amounts: Most investment accounts have low fees and zero investment amounts. The low requirements are suitable for beginners and budget investors with limited funds.

Cons

• Market volatility: Like other investments, you should confront market fluctuations in your investing life. However, time reduces many risks like pricing and market crisis. A long-term investment perspective to a successful investment. You can set it up as an extra of your retirement accounts. 
• Investing options: Investment apps have their own strengths with different investment focuses. You should choose an investment account fit for your preference with investment options considered to reach your target.

You should consider the factors above before using the micro-investing service.

Bottom-Up

Micro-investing offers a new venue for investing beginners and budget investors to participate in the stock market and grow their wealth. However, they should know investment risks are inherent and talk with a trusted financial advisor before investing.

Key takeaways:

• Micro-investing allows you to invest in stocks or ETFs with a small sum of money, like several dollars.
• Experts’ choice: Interactive Brokers, PillipCapital (POEMS), TD Ameritrade.
• Millenials’ priorities: Webull Singapore, Moomoo Singapore, SAXO,  and ProsperUS.
• Beginners’ selections: uSMART, Tiger Brokers, Syfe Trade, 
• You should talk to a financial advisor about investment risks.

If you’re considering micro-investing to grow your wealth but don’t have enough funds to start, Instant Loan can help you by providing loan quotes from top banks in Singapore without any commitment. Take advantage of our free service and get the three free quotes today to start your micro-investing journey.