Stock App

5 Best Stock Trading and Investment Apps of 2022

Investors can perform trades from anywhere thanks to the availability of online trading platforms and brokers. With investment and stock trading apps, traders can buy and sell stock and ETFs, track their portfolios, and research the best investments. Know more on how to invest in Singapore stocks.

The increase in the number of online platforms enables traders to invest from anywhere as long as there’s an internet connection. Unlike traditional brick-and-mortar trading houses, mobile stock trading apps are a better option.

All active investors should use a brokerage account, making it easier to trade stocks and other assets directly on SGX and other international markets using mobile devices or a computer. Anyone who wants to invest must get a brokerage account.

 

How Do I Choose An Online Brokerage?

Before investing in stocks and other assets, you need to have goals and preferences which determine the online brokerage you choose.

As an investor, you should pick a brokerage firm with tools and platforms that you are comfortable with. In addition, the stock trading platform should offer products that fully align with your investment style.

When trading, fees take a huge portion of the investment gains; therefore, you should always look at the fees, commissions, and pricing for any investment activity. This helps you avoid incurring unexpected charges.

 

Best Stock Trading Apps In Singapore

Name Standard Brokerage Fee Available Markets
Interactive Brokers SGX stocks: 0.08% of trade value

US stocks: US$0.005 per share

Global Markets
Tiger Brokers SGX stocks: 0.04% of trade value

US stocks: US$0.005 per share

Singapore, HK, US, China A-Shares, Australia
Saxo Markets SGX stocks: 0.08% of trade value

US stocks: 0.06% of trade value

Global markets
Philip Capital SGX stocks: 0.28% of trade value

US stocks: 0.3% of trade value

Global markets
FSMOne SGX stocks: S$8.80

US Stocks: 0.08% of trade value

SG, HK, US

 

1. Interactive Brokers: Best For Expert Traders

Interactive Trading (IBKR) is one of the oldest trading platforms. Offering low-cost access to over 135 markets, this stock trading app enables traders to access a wide range of asset classes from forex, futures, options, stocks, ETFs, and more. 

IBKR is built for experienced traders and equipped with trading APIs that enable users to build custom trading applications. Additionally, investors can access market commentary, expert webinars, and market analysis information to help expand market understanding.

Features

  • IBot feature is an easy-to-use chatbot that responds to market queries and places orders for you.
  • Portfolio builder application in the Traders Workstation to create custom portfolio strategies using historical data.
  • Access to news and research from Seeking Alpha and Morningstar Equity Ownership
  • Robo advisors allow investors to leverage automated portfolios directly from Interactive Advisors at a $1,000 deposit.
  • No transaction fee on ETFs.

Benefits

  • Low commissions and fees start at 0.08% of trade value.
  • No minimum account balance is required.
  • Access to a wide selection of asset classes in over 135 global markets.
  • Advanced trading tools include live updates, portfolio tracking, and 100 order types.
  • Multiplatform, so it can be used on mobile devices and desktops.

Risks

  • High learning curve, therefore not suitable for beginners.
  • Pricing loopholes for ETFs, stocks, and warrants.
  • Real-time stock quotes, live updates, and customizable company notifications may cost you.
  • You need a liquid net worth of at least $20,000 to sign up for this stock trading app.

How To Sign Up

To sign up for Interactive Brokers stock trading app, you need to be at least 18 years old, with liquid net assets of at least $20,000. You also need to have confirmed knowledge to trade; you’ll be asked to conduct simulated trades with the demo version.

Once you are ready to sign up, you need to provide the following information:

  • Name and date of birth
  • Asset and income details
  • Contact information and residential details
  • Proof of government-issued ID such as a passport
  • Employer name and address
  • Bank details
  • Investment objectives.

 

Businessmen Analyzing Stock Graph

2. Tiger Brokers: Best For Low Commissions

Tiger brokers is a top stock trading app in Singapore because it offers low fees to investors. This  stock trading app is a good alternative because it allows you to trade in Singapore and other markets such as the U.S and Australia at competitive commission rates. Tiger Brokers is ideal for both new and seasoned traders who execute many orders.

Features

  • Investors can create personalized watchlists.
  • You can get real-time stock quotes.
  • You can track and execute trades.
  • The stock trading app enables on-the-go trading.
  • You can spot market trends.

Benefits

  • Competitive commission fees for trades across different markets.
  • Tiger Brokers doesn’t charge inactivity, account maintenance, custody, deposit, or withdrawal fees.
  • Multiple tradable assets, including ETFs, options, stocks, and warrants.
  • Investors can trade in the stock market in Singapore, China, Hong Kong, and Australia.
  • Attractive sign-up perks and rewards when you trade.

Risks

  • Tiger Brokers has limited educational resources.
  • It has no live chat support, and customer service is available only on email and phone.
  • You need high trade volumes to unlock perks and premium membership tiers.

How To Sign Up

To open an account with Tiger Brokers, you need to provide information and documents such as proof of address and your NRIC. You also need to choose between a margin and a cash account. 

Once the account is open, you can fund it via a bank transfer. The Tiger account can hold funds in multiple currencies; therefore, you can transfer cash in SGD, HKD, or USD. After depositing your funds, this will be updated on the stock trading app, and you’ll be good to go.

 

3. Saxo Markets: Best For Global Access

Saxo Markets is an ideal stock trading app because it offers fast and easy access to more than 19,000 global stocks. Additionally, investors can trade on 37 of the world’s major stock exchanges. Since its inception, it’s been known for its quality trading tools and the lowest fees for global trading.

Features

  • Allows traders to access market research, news, and analysis on global stock exchanges.
  • Live market data that allows traders to buy and sell stock.
  • Three different trading platforms include SaxoTraderPRO, SaxoInvestor, and SaxoTraderGo.
  • Provides a wealth of educational resources from stock trading articles and guides, video tutorials, events, and seminars.
  • Customized watchlists to easily track the performance of the stock market.

Benefits

  • Saxo Markets stock trading app provides access to 19,000 global stocks on 37 major stock exchanges, making it easy to invest worldwide.
  • Low commissions for international trades.
  • Active traders with more than 100 trades per month receive lower commissions.
  • Extensive range of educational resources and stock analysis tools to help improve trading knowledge.
  • Free demo account to simulate trades.

Risks

  • Saxo doesn’t support MetaTrader 4, which is the most popular stock trading platform in the world.
  • SaxoTraderGo needs a minimum initial deposit of $3,000.
  • You need to pay brokerage fees for each trade you place.

How To Sign Up

To sign up for a Saxo Market stock trading app, you can apply online or request a paper-based application. To complete your application, you’ll need to provide your full name, email address and phone number, date of birth, proof of ID (passport or NRIC), net worth information, proof of residency, choice of primary account currency, and bank account details.

Once the account is opened, you can fund it via debit or credit cards, your bank or savings accounts, PayNow, MEPS, TT wire transfer, and more.

 

4. Philip Capital: Best For Active Traders

Philip Capital was Singapore’s first online broker that gave investors access to global markets. This online brokerage is a stellar stock trading app because it’s designed for advanced and active traders who are savvy enough to navigate through the tools on this platform. 

It uses advanced technology and has a sophisticated trading platform that helps traders access financial products across 26 global markets.

Features

  • Investors can trade multiple instruments from stocks, ETFs, warrants, unit trusts, forex, futures, bonds, insurance, and managed account services.
  • Multi-asset and multi-market watchlists connected to the stock market globally.
  • Global live chart that allows traders to compare historical data for up to 20 years and 5 different asset classes.
  • Advanced order types that help investors trade with precision.
  • Customizable, real-time updates that help keep track of orders.

Benefits

  • A broad range of asset classes.
  • Investors can trade in over 40,000 local and international assets from 26 global exchanges.
  • Access to advanced tools that help to track and navigate market movement.
  • You can conduct a trade anytime and from anywhere with the desktop trading platform or mobile app.
  • Round-the-clock personalized support from the customer service and technical support teams.

Risks

  • Higher brokerage fees than the market average.
  • Average customer care support.
  • Not suitable for beginners.

How To Sign Up

You are eligible for a brokerage account if you are over 18 and if you are a Singapore or Malaysian resident. You can also open an account if you are a foreigner with a valid work permit. U.S. citizens and bankrupt individuals are not allowed to apply.

To sign up for this account, you’ll need the following:

  • Identity verification. For a Singaporean, you need a front and back photocopy of your NRIC. For Malaysians, you’ll need a front and back photocopy of your Malaysian IC.
  • Passport with 6 months validity for other nationalities.
  • Bank accounts
  • Proof of residence that’s dated within the past three months.

 

 

5. FSMOne: Best For Small Transactions and Beginners

FSMOne is the online trading platform of Fundsupermarket (FSM). It’s among the best investment apps because it’s ideal for small transactions and also allows investors to trade in different markets across Singapore, Hong Kong, and the U.S. via one account. Investors can access the latest research, stock trading tools, and real-time stock quotes and data from SGX.

Features

  • Watchlists and alerts that enable investors to stay updated on the latest price movements in local and international counters.
  • Live streaming service with real-time stock quotes on different exchanges.
  • Access to stock factsheets with free technical analysis of the stocks.
  • Valuable insights and market analysis conducted by FSM’s research team.
  • Stock calculator for experienced traders who want advanced market data.

Benefits

  • FSMOne has a minimum fee of $10, which is significantly lower than other brokerages.
  • The mobile stock trading  app is beginner-friendly and among the best investment apps for new users.
  • Investors don’t need a CDP account to trade, making it easier and faster for new traders.
  • A rewards programme that enables traders to earn points from their investments and redeem the rewards.

Risks

  • FSMOne has limited global exchanges and only facilitates trades from markets in Singapore, Hong Kong, and the United States.
  • Investors could incur quarterly and annual fees depending on the investments.
  • FSMOne offers a smaller range of asset classes for trading compared to other stock trading apps.

How To Sign Up

You can sign up for this account if you are over 18, not a U.S. citizen, and not bankrupt. On the FSMOne website, click on “open account” to get started. Unlike other brokerages, you won’t need a Central Depository Account (CDP).

To open the account, you need a front and back copy of your NRIC or a valid passport if you are a foreigner. You also need supporting documents, including the latest bank statement, telephone bill, insurance statement, and CPF. Ensure that the documents are not more than 3 months old.

 

Related Questions

1. What Are Brokerage Accounts And How Do They Work?

A brokerage account is a financial account that gives investors access to buy, sell, and hold stocks or other investment assets. You can deposit and withdraw cash like a traditional account; however, the cash balance is primarily used to buy investment assets. These accounts are connected to the financial system; therefore, you can add funds by check, electronic funds transfers, wire transfers, and other methods.

2. What Is The Best Trading App For Beginners?

FSMOne is the best stock trading app for beginners because it’s easy to navigate and less intimidating.

3. Can I Place Trades On All Stock Apps?

Yes, you can. However, it’s advisable to choose a stock trading app that meets your financial needs and benefits you.

4. Are Stock Apps Free? How Much Should A Brokerage Account Cost?

Most brokerage accounts are free with no minimum balance requirement, activity, and recurring fees except managed portfolios. They also got rid of commissions making the investments more accessible.

Investment Growth

Final Word

Stock trading and investment apps make it easy to trade from anywhere. When choosing the best investment apps, ensure that you go for the one that aligns with your financial goals.

Key Takeaways

  • There are different stock trading apps for everyone.
  • Go for online brokerage accounts with low or no fees and commissions.
  • Trading apps allow you to access local and international stock exchanges.

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