Best Brokerage Accounts For Young Investors – Best Overall |Best Market Entry | Cheapest Online Business | CFD Trading | How to choose | common questions
Compared to commercial websites, customers face many different factors to consider (eg UI/UX, market access, product offering, etc.). It can be overwhelming, but a good place to start is to look at the fees associated with each company. Some sites offer freebies or promotional periods where fees are waived with other perks and benefits. Below is a graph showing the lowest commission fees in the Singapore market for a broker or trading platform.
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Saxo Markets is the best online broker in Singapore because it combines low prices, good marketing and a simple user interface in one platform.
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Firstly, Saxo only charges 0.08% trading commission in Singapore, with a minimum of S$5. If you want to sign up for their premium plans with a waived monthly fee, you’ll be able to enjoy rates as low as 0.03% per trade (minimum S$1).
Not only that, Saxo does not charge any hidden fees such as no fees, no fees, maintenance fees etc.000 or less.
In terms of low fees, Saxo offers online trading on 60 exchanges worldwide and market-leading commission rates in major international markets such as the US, Hong Kong and Japan.
In addition, Saxo is one of the best places to trade foreign currencies, as its FX spreads are consistently among the lowest available and beat the competition by a wide margin. Finally, our analysts found Saxo Markets’ trading platform to have the most intuitive user interface.
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Moomoo (an investment product powered by FUTU) is the cheapest online broker in Singapore as it has the lowest commission fees in the market, intuitive trading platform and access to US, HK, China A and SG markets – making moomoo an excellent choice. new investors. In their exclusive welcome, new accounts can get Level 2 real market data, 1 Apple (AAPL) share (and more) for free.
Being one of the cheapest online trading sites in SG, the commission charged for each trade in the SG and HK markets is only 0.03%, which is much lower than other online trading sites, between 0.08%-0.28%. Additionally, moomoo charges only $0.0049 per order for US stocks, ETFs and American Depositary Receipts (ADRs). Also, with their current promotion, you can enjoy free trading for 180 days in all SG and HK markets. The best part is that you will be able to enjoy $0 commission on US savings forever. Even after the promotional period ends, new investors will still receive the lowest commission on the market.
If you’re looking for a simple mobile UI/UX, moomoo’s intuitive app offers tools like social chat features, technical indicators, ratings and insights. So those who want to trade stocks in SG, HK and USA can quickly download the app, create an account and start trading. Unfortunately, moomoo’s production and market penetration is currently not as extensive as some of its competitors. However, they are new and expect to expand their production soon.
Tiger Brokers has one of the lowest commission fees in the brokerage market in Singapore, an easy-to-use site and live pricing in the US and Singapore, making it a great option for new and experienced investors. The commission charged per trade is 0.03%, which is much lower than other online brokers that charge around 0.08%-0.28%.
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That is still much lower than Singapore’s average, which is 0.21%. In addition, new customers can also enjoy 60 free commission trades for 365 days and 1 share of SoFi Technologies Inc. Share (NASDAQ: SOFI ) when you open your account. In addition, Tiger Brokers does not charge maintenance or switching fees, and opening an account is quick (1-3 days).
For those looking to invest overseas, Tiger Broker’s system provides clients with real-time access to markets in the US, Hong Kong, China and Australia. For US trading, you can invest as little as $0.005 in commission with a minimum of $0.99 per order. For those who prefer to trade in Hong Kong, Tiger Broker’s minimum fee is only HKD $7. This is one of the most attractive prices in Singapore, as most companies charge from HKD$100-HKD$240. The future of business is also easy, as there are features built into their platform to provide customers with support for these businesses. With low trading fees, a user-friendly site and access to current market data, Tiger Brokers is a great site.
USMART has one of the lowest commission fees in the brokerage market in Singapore and unique educational content and resources, making it a great option for newcomers and beginners. The commission charged for each trade in Singapore is 0.02-0.05%, which is much lower than other online brokers that charge around 0.08%-0.28%.
The standard account type will be the most suitable for the average and regular user due to its low cost and reasonable access to existing SMART functions. Users with Business accounts, on the other hand, will not be able to access the SMART features of uSMART, but will be able to enjoy the cheapest fees available.
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USMART’s SMART features are its undoubted selling point, and for good reason. Currently, uSMART offers four main types of pre-set SMART order strategies: High-Sell, Break-Sell, Progressive-Sell and Low-Sell. uSMART will monitor the stock market and, depending on the prioritization method you choose, will automatically buy or sell the stocks you are interested in when the target price you specify is reached.
For example, the Top Selling Strategy allows you to set a fixed price to sell something, and uSMART will automatically bid when that price is reached. These new features significantly improve and simplify the business process.
PROMO: Get at least S$60 in cash points and five free trades per month for the first 3 months
To begin with, the Singapore-based online broker will offer each investor five free trades per month, and then a flat fee of $0.99 per trade, during its introductory presentation ending in the first quarter of 2022. Even after the introduction in the end, Syfe Trade still very competitive by offering its investors two free trades per month and a flat fee of $1.49 per trade.
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Syfe Trade also allows investors to engage in partial trading of US stocks and ETFs, enabling retail investors with small capital to acquire US stocks or ETFs of their choice for $1.
The only downside to Syfe Trade, at least for now, is that it only offers access to the US market. Although there are plans to expand to more markets, including Singapore, users looking to invest in the short term would be better off looking at other options.
However, if you are willing to wait, you will be happy with Syfe Trade’s simple and intuitive interface and the protection of up to 500K against broker errors.
Similar to Singapore’s online brokerage offerings, Syfe Trade provides its users with US market data directly to maximize the benefits of your investment.
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When it comes to trading securities in markets outside of Singapore, Interactive Brokers’ commission rates are hard to beat for online trading sites in Singapore. This is attractive to investors who may feel limited by the number of shares in the Straits Times index and feel they are considering other options. As you can see in the chart below, Interactive Brokers has the lowest commission fees of any region outside of Singapore. Nevertheless, Saxo is the best option for those who want to enter any market including Singapore.
Contracts for differences (CFDs) allow individuals to estimate the future value of an underlying asset, without actually owning the asset. CFDs are also traded with leverage, giving traders more buying power. For these reasons, they are popular among experienced traders in Singapore. Below we highlight two online trading platforms in Singapore that offer CFD trading.
IG is another leading broker in Singapore with CFD offers. Although the commission fees are generally higher than those of the City Index, it offers some features that make it worth considering.
First, IG allows investors to adjust their exposure by trading parts of the contract (eg 0.5 spot contract on FX EUR/USD). In addition, IG offers Knockout CFDs, which is a special feature that allows traders to determine their maximum loss before entering a position. This product automatically adjusts margin requirements based on the user’s specific “hit rate” or maximum loss.
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IG also offers a comprehensive CFD training platform through the IG Academy, which helps new traders get started and even practice risk-free with a similar currency account. Finally, IG’s partnership with Singapore Airlines allows users to earn KrisFlyer Miles for every transaction. For more information, see the gears below.
Finding the best online business strategy that fits your needs is critical to becoming a successful investor. You should consider the following features and requirements before choosing an online broker
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