Best Brokerage Account Singapore
Updated Oct 2020
Best Brokerage Account Singapore , in order to invest or trade Financial Product such as Stocks , Index fund , etc. One might need to open a CDP Account or Custodian Account with a local brokerage firm.
Brokerage Commissions fees are an important variable use to calculate your Stock Profit and Loss when trading.
CDP Account VS Custodian Account
| Description | CDP Account | Custodian Account |
|---|---|---|
| Account Type | CDP is where your securities are held by the Central Depository account .There will be Some Cost incurred when using CDP such as Clearing Fee / SGX Trading Fee etc . You can only use CDP to purchase Local Singapore Stock. | Securities/ Stock are purchased through a nominee account that is managed by the brokerage firm. Brokerage Firm legally owned the Stocks on behalf of you.One will need A Custodian Account for buying Oversea Stocks |
| Shareholder Ownership of the Company Under Your Name | Yes | No |
| Brokerage Fees | Higher Brokerage Fees | Lower Brokerage Fees |
| Share Custody fees | No | Yes |
| Transfer Fee from Custody To CDP | No Need | Yes |
| Share Holder Benefits | Yes | No |
| Investor Type | Long Term Investor | Short Term Trader/ Day Trader / Multiple Trades |
| Trade Type | Only SGX Stocks | Overseas Stocks / Local Stocks |
| How to Apply | Apply at MyInfo | Apply through Individual Brokerage House |
Best Brokerage Account Singapore
Best CDP-linked brokerage accounts Comparison Table (Online)
| Provider | Minimum Commision Fees | Broker commissions:<$50,000 | Broker commissions: $50,000 – $100,000 | Broker commissions: >$100,000 |
|---|---|---|---|---|
| FSMone (Sell Order Only) | $10 | 0.08% | 0.08% | 0.08% |
| DBSVickers (Cash Upfront) Buy Trade | $10 | 0.12% | 0.12% | 0.12% |
| CGS-CIMB Securities | $25 | 0.275% | 0.22% | 0.18% |
| KGI Securities | $25 | 0.275% | 0.22% | 0.18% |
| Maybank Kim Eng Securities | $25 | 0.275% | 0.22% | 0.18% |
| OCBC Securities | $25 | 0.275% | 0.22% | 0.18% |
| RHB Securities | $25 | 0.275% | 0.22% | 0.18% |
| UOB Securities | $25 | 0.275% | 0.22% | 0.18% |
| Phillip Securities (POEM) | $25 | 0.280% | 0.22% | 0.18% |
| DBSVickers | $25 | 0.280% | 0.22% | 0.18% |
| Lim & Tans Securities | $25 | 0.280% | 0.22% | 0.18% |
Best Custodian accounts (Singapore stocks)(Online)
| Provider | Minimum Commision Fees | Broker commissions:<$50,000 |
|---|---|---|
| FSMone | $10 | 0.08% |
| SAXO Market | $10 | 0.08% |
| Tiger Broker | No Minimum | 0.08% |
| UOB Kay Hian Securities | $10 | 0.12% |
| Phillips Securities (POEMS) | No Minimum | 0.12% |
| Maybank Kim Eng | $10 | 0.12% |
| CGS-CIMB Securities | $18 | 0.18% |
| Lim & Tan Securities | $18 | 0.18% |
| KGI Securities | $25 | 0.18% |
| HSBC | $25 | 0.25% |
| citibank Brokerage | $28 | 0.25% |
Best Pre-Cash Funded Upfront Account (Online)
| Pre-funded/ Cash Upfront Accounts | Min. Commision Fees |
<$30k | $30k-$100k | $100k-$250k | >S$250k | Custodian or CDP Account | Others Fees |
|---|---|---|---|---|---|---|---|
| Tiger Brokers Tiger Trade | No Minimum | 0.08% | |||||
| Saxo Capital Market | $10 | 0.08% | |||||
| FSMone | $10 | 0.08% | |||||
| Phillip Securities POEMS Cash Plus | No Minimum | 0.12% | 0.10% | 0.08% | $15 quarterly account Maintenance Fee | ||
| Maybank Kim Eng | $10 | 0.12% | |||||
| DBS Vickers Cash | $10 | 0.12% | CDP | ||||
| UOB KayHian | $10 | 0.18% | Quarterly sub-account fee $2 (account without holdings) $15 (account with holdings). |
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| OCBC Securities: Equities Plus Account | $18 | Quarterly sub-account fee (waived for >$250k) $2 + GST (a/c without holdings) $15 + GST (a/c with holdings). |
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| Lim & Tan Securities | $10 | $12 | 0.18% | |||||
| CGS CIMB I-Trade | $18 | 0.18% | |||||
| Standard Chartered: Online Trading | $10 | 0.20% | 0.18% (>$200k) | ||||
Purchase Securities By Calling Your Broker(CDP)
| Brokerages (Broker Assisted) |
Minimum Fees | <$50K | $50K to $100K | >$100K |
|---|---|---|---|---|
| DBS Vickers | $40 | 0.375% | 0.30% | 0.23% |
| RHB Securities | $40 | 0.50% | 0.40% | 0.25% |
| OCBC Securities | $40 | 0.50% | 0.40% | 0.25% |
| Phillips Securities (POEMS) | $40 | 0.50% | 0.40% | 0.25% |
| Maybank Kim Eng | $40 | 0.50% | 0.40% | 0.25% |
| Lim & Tan Securities | $40 | 0.50% | 0.40% | 0.25% |
| KGI Securities | $40 | 0.50% | 0.40% | 0.25% |
| CGS-CIMB Securities | $40 | 0.50% | 0.40% | 0.25% |
| Citibank ( Custodian) | $50 | 0.50% | 0.50% | 0.40% |
Best Broker Check List you need to evaluate before Signing Up
| No | Check List |
|---|---|
| 1 | Commission Fees |
| 2 | Promotion : Commission fee waivers/ vouchers / cash rebates. |
| 3 | Products Offered : stocks/bonds, CFD/Forex/Commodities/Futures |
| 4 | Tools Provided : Charting Tools / Indicators/Stock Screeners |
| 5 | Market Access: Singapore/ Malaysia / Hong Kong / US etc |
| 6 | Platform Interface : Izzit User Friendly ? |
| 7 | Investment Analytics: Research Reports / Analytics |
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