Whether you like to buy/sell stocks or enjoy Forex trading, it’s important to choose the right online brokerage to assist. There are so many available options, but what is best for you in Singapore? How do you select a broker?
Here’s what you need to know:
Saxo Markets is a great brokerage for many reasons. For example, the commission rate for ETFs and SGX stocks is 0.08 percent, which is the lowest within the market.
Plus, this company offers a wide range of portfolio options, such as CFDs, FX, funds, futures, options, commodities, bonds, ETFs, and stocks. In fact, you can access over 19,000 stocks and 3,000 ETFs through 37 worldwide exchanges. These include SGX, NASDAQ, and NYSE!
There are three account tiers, as well. Classic has a $3,000 minimum, Platinum requires a $300,000 minimum, and VIP has a $1,500,000 minimum. When you choose higher tier levels, you get better trading conditions. These can include direct access to experts, priority support, lower prices, and much more.
Tiger Brokers is another great brokerage. It features a competitive commission rate of just $0.01 per share, but there is a minimum of $1.99 per order for ETF trading. With that, you also have access to more than 3,000 global ETFs on more than 30 exchanges worldwide, such as JP, AU, HK, SG, and US stock exchanges.
There are various online courses and educational videos available to those who sign up for and use the service. That way, you can learn about investing in ETFs. You also get customer support 24/5 for immediate issues.
Those who prefer ETFs are sure to like Moomoo. The minimum commission fee is $0.99, making it one of the lowest entry prices among online brokers. Plus, it features 3,000 global ETFs from 30 exchanges!
Standard Chartered Online Trading
With this company, you can trade with fees as low as 0.18 percent, and there are no custody fees! Plus, if you’re a high-tier client, you have no minimum fees, either. That allows you to pay less when you trade more.
There are 15 stock exchanges available and 10 markets! Plus, you can trade using any device or smartphone. Trade on the go with no problems.
You’re even allowed to pledge your securities to maximize your trading opportunities. This gives you more flexibility and purchasing power. If that weren’t enough, the SGD deposits are insured by the SDIC for up to $75,000!
If you’re into CFD trading, IG is the right company. It lets you trade CFDs through many products and instruments. These include options, SG indices, ETPs, digital 100s, knock-outs, commodities, shares, cryptocurrency, and Forex. With that, you’re exposed to more than 17,000 markets throughout the world.
Commission fees vary based on what you’re trading. For example, CFD indices have a 0.1 minimum spread, while stocks and ETFs are as low as 0.1 percent.
Many people enjoy trading and want to earn a passive income with the extra money they have. If this sounds like something you might like, it’s best to go with the best online brokerage in Singapore. While this list talked about some of the most popular options, there are countless others. Moneysmart can help you compare them all and choose the most appropriate one.