4 Best Singapore Stock Brokers List
By Stefano Treviso, Updated on: Feb 09 2024.
Here’s our selection of the 5 Best Singapore Stock brokers for the year 2023:
| Broker | Reason |
|---|---|
| Interactive Brokers | Best for most stocks offered and professional trading |
| IG |
Best for high volume share traders |
| Plus500 | Best for CFDs on share options |
| Saxo Bank | Best for high net worth traders or investors |
The majority of the above brokers hold a financial license from MAS (Monetary Authority of Singapore). This grants Singapore stock traders a great layer of protection in the event of any dispute as complaints can be dealt with locally. In the case of those that don’t, we included them due to their increased popularity in Singapore.
Each one of these brokers was analysed using our proprietary methodology.
1. Interactive Brokers - Best for most stocks offered and professional trading
Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.
| Key data | |
|---|---|
| Stocks (Real and CFDs) | 100000 |
| Commissions | Commissions depend on market and residency:
|
| Minimum Deposit | 0 |
| Financial Regulators | SEC, FINRA, FCA, ASIC, IIROC, MNB, BSE, CBI, FSA, CSSF, MAS. |
| MT4 | No |
| MT5 | No |
| cTrader | No |
| TradingView | No |
| Proprietary Platform | Yes |
Interactive Brokers regulatory framework consists of 11 high tier financial licenses from the world’s best financial regulators (including MAS). They have been around since 1978 and they are the top choice for professionals by default.
| The Good | The Bad |
|---|---|
|
|
Interactive Brokers gives you access to over 78 different markets, this means that you can basically trade every possible stock from every exchange in the world so their asset count is practically impossible to determine.
If what you’re looking for is asset variety, they’ve got you covered. On the other hand, if you need several payment methods and a simple trading platform, you may be disappointed.
2. IG - Best for high volume share traders
IG is a global broker established in 1974 that holds 8 reputable financial licenses and provides CFD trading on stocks, commodities, ETFs, indices, cryptocurrencies, bonds, futures, options along with real stocks through their share dealing account.
| Key data | |
|---|---|
| Stocks (Real and CFDs) | 30000 |
| Commissions | Yes, they charge depending on the client’s account base currency and exchange location of the shares being traded. For example, for some clients US shares can have a minimum charge of $10 in-and-out. |
| Minimum Deposit | From $10 to $450. |
| Financial Regulators | ASIC, FMA, NFA, ADGM, FINMA, MAS, FFAJ, FSCA, BMA. |
| MT4 | Yes |
| MT5 | No |
| cTrader | No |
| TradingView | No |
| Proprietary Platform | Yes |
IG holds 8 financial licenses from the world’s best financial regulators (including MAS). They are a publicly traded company on the LSX and their experience is above 3 decades of providing trading services.
| The Good | The Bad |
|---|---|
|
|
IG’s biggest selling points are their variety of assets (over 10,000+) with the possibility of adding more via data subscriptions and their proprietary web trading platform which is definitely one of the best ones out there. On the negative side, IG can be expensive for the average low volume trader as they charge in-and-out commissions for share CFDs and various fees as well.
3. Plus500 - Best for CFDs on share options
Plus500 is an international broker specialised in CFD trading with a big range of assets including CFDs based on American options.
| Key data | |
|---|---|
| Stocks (Real and CFDs) | 2000 |
| Commissions | None |
| Minimum Deposit | $100 |
| Financial Regulators | CySec, FCA, ASIC, MAS. |
| MT4 | No |
| MT5 | No |
| cTrader | No |
| TradingView | No |
| Proprietary Platform | Yes |
Plus500 holds 4 financial licenses from mostly high tier regulators (including MAS). They are also a publicly traded company on the LSX which adds a great layer of safety when interacting with them.
| The Good | The Bad |
|---|---|
|
|
Plus500 provides over 2,500+ instruments to trade but the most interesting part about them is their option to trade CFDs on share options which professional traders can find quite appealing as a high risk speculative strategy or a hedge. On the other hand, despite them providing this instrument, their platform is designed with beginners in mind and lacks many features that professional traders require.
4. Saxo Bank - Best for high net worth traders or investors
Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.
| Key data | |
|---|---|
| Stocks (Real and CFDs) | 30000 |
| Commissions | $0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract. |
| Minimum Deposit | From $500 up to $2,000 |
| Financial Regulators | ASIC, HKMA, ADGM, FINMA, MAS, FFAJ, AFM. |
| MT4 | No |
| MT5 | No |
| cTrader | No |
| TradingView | Yes |
| Proprietary Platform | Yes |
Saxo Bank holds 7 high value licenses from the best financial regulators in the world. They are amongst the most prestigious brokers due to their particular requirements to open an account such as high minimum deposits and other fees.
| The Good | The Bad |
|---|---|
|
|
Saxo Bank provides access to over 30,000+ shares in the form of real equities or CFDs. Their proprietary platform is advanced yet simple and easy to use. For high net worth individuals, Saxo Bank can be an appealing choice. On the other hand, if you’re not trading with a big capital, you may find them quite expensive.