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5 Best Singapore Stock Brokers List

By Stefano Treviso , Updated on: Aug 29 2022.

Here’s our selection of the 5 Best Singapore Stock brokers for the year 2022:

Broker Reason
eToro Best for beginners and copy trading
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. eToro - Best for beginners and copy trading

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78% of retail CFD accounts lose money.

eToro is an international broker specialised in social and copy trading that offers real stocks and cryptocurrencies along with CFDs on several asset classes.

Key data
Stocks2,000+ Real Stocks / 2,000+ CFDs
CommissionsNo
Minimum DepositFrom $5 to $200
Financial Regulators
  • CySec (Cyprus)
  • FCA (UK)
  • ASIC (Australia)
  • FSAS (Seychelles)
MT4No
MT5No
cTraderNo
TradingViewNo
Proprietary PlatformYes

eToro holds 4 financial licenses from which 2 belong to high tier financial regulators. Despite them not being regulated by MAS, they are a popular choice amongst Singapore stock traders. Their biggest selling point is their proprietary social and copy trading platform with multilingual capabilities. 

The GoodThe Bad
  • Social and Copy trading capabilities
  • Trading real shares and cryptocurrencies
  • Copy Trading statistics are not clear enough
  • Lack of advanced order placement controls

eToro has a no commission business model. They cleverly appealed to beginners looking to get started buying shares and professionals looking to monetise their skills by displaying their performance metrics and gaining a following.

If you’re new to trading or you’re still below intermediate level, eToro can be a great choice for you. On the other hand, if you’re looking for professional features and advanced trading platforms, there are better choices for you out there.

2. Interactive Brokers - Best for most stocks offered and professional trading

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Investing in financial products involves taking risk.

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
Stocks78 markets
Commissions

Commissions depend on market and residency:

  • US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value.
  • European stocks have €3 minimum and 0.05% trade value.
  • Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1.
  • Options start at $0.25 per contract and go as low as $0.15 per contract.
  • Futures start at $0.85 per contract and go as low as $0.25 per contract
Minimum Deposit$ - 0
Financial Regulators
  • SEC (United States)
  • FINRA (United States)
  • FCA (United Kingdom)
  • ASIC (Australia)
  • IIROC (Canada)
  • MNB (Hungary)
  • BSE (India)
  • CBI (Ireland)
  • FSA (Japan)
  • CSSF (Luxembourg) CSSF
  • MAS (Singapore)
MT4No
MT5No
cTraderNo
TradingViewNo
Proprietary PlatformYes

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 GoodThe Bad
  • High regulation
  • Exceptional number of investment instruments (Above 100,000+)
  • Competitive discount fees
  • Complicated account opening process
  • Platforms are not beginner friendly
  • Narrow choice of deposit options (Mostly bank transfer)

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.

3. IG - Best for high volume share traders

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79% of retail CFD accounts lose money.

IG is a global broker established in 1974 that holds 10 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

10,000+ CFDs / Offering from 8 exchanges worldwide for real stocks

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

0 for Bank Transfers, 300 € for Paypal and Debit / Credit cards.

Financial Regulators
  • ASIC (Australia)
  • FCA (UK)
  • NFA (United States)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • FSCA (South Africa)
MT4Yes
MT5No
cTraderNo
TradingViewNo
Proprietary PlatformYes

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 GoodThe Bad
  • Broad platform offering with high customisability and integrated news feeds
  • Comprehensive asset offering with more than 10,000 + CFDs or real stocks and ETFs
  • There are too many small costs such as custody, in-and-out-commissions in some cases, management fees, etc
  • Their standard contracts can be too large some times for low volume traders

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.

4. Plus500 - Best for CFDs on share options

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77% of retail CFD accounts lose money.

Plus500 is an international broker specialised in CFD trading with a big range of assets including CFDs based on American options

Key data
Stocks2,000+
CommissionsNo
Minimum Deposit$, €, £ - 100
Financial Regulators
  • CySec (Cyprus)
  • FCA (UK)
  • ASIC (Australia)
  • MAS (Singapore)
MT4No
MT5No
cTraderNo
TradingViewNo
Proprietary PlatformYes

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 GoodThe Bad
  • CFDs on american options offered
  • Low minimum trade sizes
  • Propietary platform with multi-charting tools
  • No ability to remove leverage
  • All instruments are CFDs, you can't buy underlying assets (real stocks or cryptocurrencies)

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.

5. Saxo Bank - Best for high net worth traders or investors

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69% of retail CFD accounts lose money.

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
Stocks30,000+
Commissions

$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract

Minimum DepositFrom 500 € to 2,000 € depending on residence
Financial Regulators
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
MT4No
MT5No
cTraderNo
TradingViewYes (through API)
Proprietary PlatformYes

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 GoodThe Bad
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures

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.

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