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Best Trading Platforms in Singapore

Steven Hatzakis

Written by Steven Hatzakis
Fact-checked by Joey Shadeck
Edited by John Bringans

September 30, 2024

Steven Hatzakis has been reviewing brokers for nearly ten years and has 25+ years of experience as a trader. His reviews are unbiased and independent, and his expertise is sought after for conferences and speaking events around the world. Learn more.

In my 20+ years of experience navigating global markets, I’ve learned the importance of choosing the right stock broker for your needs – no matter where you live. For traders based in Singapore, I recommend choosing a reliable broker regulated by the Monetary Authority of Singapore (MAS).

Whether you need to set up a CDP account for direct stock purchases or you'd rather trade CFDs, my guide to the best stock brokers in Singapore guide will help you find a highly-rated broker for trading stocks on the Singapore Exchange (SGX).

Best Trading Platforms in Singapore

The review process at StockBrokers.com includes hands-on testing, robust fact-checking, and thousands of hand-collected data points; here are my picks for the best stock brokers in Singapore for 2024:

  • Interactive Brokers - Best broker for trading stocks and futures in Singapore
  • IG - Excellent overall broker for stock traders in Singapore
  • Saxo - Access to extensive CFDs and local Singaporean stock exchanges
  • CMC Markets - Great choice for both CFDs and cash equities
  • Charles Schwab - Gateway to U.S. markets (available only to accredited investors in Singapore)
  • City Index - Extensive selection of share CFDs
Interactive Brokers
4.5/5 Stars 4.5 Overall

Best broker for trading stocks and futures in Singapore

Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates. Read full review

IG
5/5 Stars 5.0 Overall

Excellent overall broker for stock traders in Singapore

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.

Saxo
5/5 Stars 5.0 Overall

Access to extensive CFDs and local Singaporean stock exchanges

Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.

CMC Markets
5/5 Stars 5.0 Overall

Great choice for both CFDs and cash equities

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.

Charles Schwab
5/5 Stars 5.0 Overall

Gateway to U.S. markets (available only to accredited investors in Singapore)

With the addition of TD Ameritrade's thinkorswim platforms and the enhancement of several features, Schwab is now a vigorous competitor with thought-provoking research and commentary and a client experience to fit any preference. Read full review

City Index
4.5/5 Stars 4.5 Overall

Extensive selection of share CFDs

Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.

Best broker for trading stocks and futures in Singapore – Interactive Brokers

Company Overall Minimum Deposit Offers Visit Site
Interactive Brokers logoInteractive Brokers
4.5/5 Stars $0.00

Interactive Brokers (IBKR) is my pick for the best stock broker for accessing local and global markets in Singapore. IBKR is regulated by the Monetary Authority of Singapore (MAS) and provides access to the Singapore Exchange (SGX), offering 637 stocks, 720 futures, 74 ETFs, 57 indices, 5 options on futures, 196 structured products, and 7 warrants, totaling 1,696 products. With competitive pricing of just SGD 2.50 per SGX order, IBKR is one of the most cost-effective brokers for trading stocks in Singapore.

Offering of investments: Serving traders in over 200 countries, IBKR grants access to more than 150 markets. Since 2021, IBKR has also offered cryptocurrency trading, allowing clients to trade bitcoin, ethereum, litecoin, and bitcoin cash with low commissions of 0.12% to 0.18%. IBKR also supports trading in U.S. spot gold in amounts as small as one ounce and Micro and Small futures contracts.

Trading costs: IBKR Lite offers zero-commission trades for U.S. stocks and ETFs, though it relies on payment for order flow (PFOF), which slightly impacts order execution quality. IBKR Pro, designed for professional traders, avoids PFOF and offers superior execution with tiered commissions starting at $0.0035 per share. High-volume traders can reduce costs to as low as $0.0005 per share. U.S. options contracts under IBKR Pro are similarly tiered, beginning at $0.65 per contract.

Mobile trading: IBKR offers three mobile apps tailored to different traders. IBKR Mobile is ideal for experienced traders, featuring fast streaming data, advanced charting, and comprehensive portfolio management tools. GlobalTrader caters to beginners and international stock traders, offering fractional shares and easy access to global markets. The Impact app focuses on ESG investing, allowing users to align portfolios with their personal values.

Excellent choice for trading stocks in Singapore – IG

Company Overall Minimum Deposit Offers Visit Site
IG logoIG
5/5 Stars £250.00

IG is a highly trusted, well-regulated broker and an excellent choice in 2024 for trading stocks in Singapore. Licensed by the MAS (Monetary Authority of Singapore), IG offers share trading via CFDs across over 13,000 stocks (including SGX shares) on its proprietary platform suite, including access to IPOs, and after-hours trading on over 70 popular symbols.

IG also offers SGD-denominated index CFDs, which can be a great option for local investors or international investors who want to speculate on domestic markets in Singapore, using a Singapore Dollar based balance. IG also offers Singaporeans a Premium account for active traders, as well as an Accredited Investor account for professional investors.

Great choice for trading on the Singapore Exchange (SGX) – Saxo

Company Overall Minimum Deposit Offers Visit Site
Saxo logoSaxo
5/5 Stars $0

Saxo is a highly-trusted multi-asset broker, regulated by the MAS. Saxo holds over 100 billion in assets,and ranks highly across nearly all important categories, including for its market research resources and its trading platforms. In addition to offering a substantial selection of global markets and CFDs, Saxo is a great choice for international and local investors looking at the markets in Singapore, including stocks on the SGX.

Saxo offers low trading costs, with a minimum 3 SGD per trade, across its Classic, Platinum, and VIP accounts. You can avoid custody fees at Saxo if you opt into its Securities Lending program (Note: Singapore residents are not charged any custody fees for SGX stocks and ETFs). SGX Level 1 market data is available for 15 SGD for streaming real-time prices, and 75 SGD for Level 2 which adds depth of book (i.e. amount available at each price.).

FAQs

How do I get started stock trading in Singapore?

To start trading stocks in Singapore, the first thing you'll need to do is open a brokerage account. You’ll want to choose a broker that operates within Singapore or that provides access to the Singapore stock markets, including the Singapore Exchange (SGX). I recommend choosing a broker licensed by the Monetary Authority of Singapore (MAS) to maximize your regulatory protection.

Once you’ve found a broker that fits your needs, you can follow this quick guide to start trading stocks in Singapore:

  1. Set up your brokerage account: Carefully fill out your account application. Make sure that you read your broker’s terms and conditions thoroughly.
  2. Fund your account: Deposit an amount you're comfortable risking via your preferred deposit method.
  3. Test the waters with paper trading: Before diving into live trading, experiment with paper trading. Paper trading allows you to familiarize yourself with the broker’s platforms and tools without risking any of your real money.
  4. Create an trading plan: Successful investing isn’t about winning on every trade; it’s about sticking to a coherent investment strategy that manages risk effectively. New to investing? Learn how to invest in stocks.
  5. Start trading: Once you're ready, choose the size of your first trade and enter the market. Whether you’re going long by buying shares or short by selling, it’s important to stay disciplined and follow your trading plan.

Do I need a CDP to trade stocks?

Depending on whether you’ll be trading cash equities (physical stocks) or stock CFDs (derivatives not available to U.S. residents), you may need to set up a CDP Securities account with the Singapore Exchange (SGX). This involves connecting your local bank account for direct crediting services, and requires a Tax Identification Number (TIN), Singaporean Bank account number, and copy of your signature.

In other words, if you are just trading CFDs on the SGX, you wont need a CDP, but if you are trading SGX products directly with your broker, the CDP account application will likely be required, and can be easily setup including using Singpass (learn more about setting up a CDP here: https://investors.sgx.com).

Which Singaporean brokerage has the lowest fees?

Interactive Brokers (IBKR) offers some of the lowest rates for trading on the Singapore Exchange (SGX), in addition to competitive pricing on its forex and CFDs offering. IBKR offers fixed pricing where you avoid exchange fees, but pay a flat fee of 2.50 SGD per order on the SGX.

Active traders: IBKR charges a minimum of 2.50 SGD (or 0.08% of trade value) per SGX order for clients trade who less than 2.5 million SGD in monthly volume as part of its base Tier 1 rates. That said, deeper discounts are available for active traders with Tier 4 pricing at just 0.90 SGD per order, or 0.02% of trade value, if you trade over 150 million SGD per month. For its spot forex trading in Singapore, Interactive Brokers offers low average spreads alongisde with low per-trade commissions, making it one of the lowest fee brokers in Singapore in 2024 (learn more about the best forex brokers in Singapore at ForexBrokers.com).

What is the best trading platform for beginners in Singapore?

IG offers the best trading platform suite for beginners in 2024. IG’s proprietary web-based platform is user-friendly and packed with essential features for stock trading. It includes live market prices, comprehensive research tools, and the ability to customize layouts. Beginners will find IG’s charting tools to be smooth and intuitive, with easy-to-use drag-and-drop functions. IG also offers specialty platforms like MetaTrader and L2 Dealer for more advanced traders. IG’s platform suite also delivers in-depth educational content in a variety of formats, such as educational articles, videos, webinars, and courses. IG even has a standalone mobile app dedicated to education.

Our testing

Why you should trust us

Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).

All content on StockBrokers.com is fact-checked by our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the brokerage industry.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.

How we test

At StockBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the best stock brokers.

Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:

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All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.

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About the Editorial Team

Steven Hatzakis

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for StockBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to 10 years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

John Bringans

John Bringans is the Managing Editor of StockBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

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