Updated May 18, 2023
Excellent! ROSHI has found 22 Online Brokerages that suit your criteria.
Webull
On Webull's website
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ProsperUs
On ProsperUs's website
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Syfe Trade
On Syfe's website
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Moomoo (by FUTU)
On Moomoo's website
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Tiger Brokers
On Tiger Brokers' website
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KGI Securities
On KGI's Securities website
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Citibank Brokerage
On Citibank's website
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FSMOne Fundsupermart
On Fundsupermart's website
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Standard Chartered Online Trading
On SCB's website
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The first thing you need to check is that your chosen broker is able to work with the type of investments you are interested in. Some brokers focus on local investments while others focus on international ones. You can break it down even more than that too.
Another thing to consider is how much you will need to spend on your investment. Not only must you consider the amount you will invest, but the extra fees that come with most if not all trading platforms. The more you invest, the higher your fees. That being said, some brokers offer better rates than others.
You need to know about both asset classes and financial instruments. Asset classes are the various types of assets that you can trade with, whereas financial instruments are the methods by which you trade those assets.
A Stock CFD (Contract for Difference) works as a contract between you and a broker. You do not directly own the assets, however. The contract allows you to speculate price changes and invest based on your guesses. Even though you do not directly own the stocks, you can get away with a smaller deposit on a large investment.
Share Trading stocks work in much the same way except that you directly own the stocks that you invest in, rather than letting the broker handle the ownership. The disadvantage to owning it directly is that you will need a bigger deposit than with a Stock CFD.
| Online Brokerage | Trading Fee (Up to S$50,000) | Minimum Fee | Stock Holding Type | |
|---|---|---|---|---|
| TD Ameritrade | 0.00% | US$11 | Custodian | |
| Saxo Markets | 0.08% | US$4 | Custodian | |
| CGS-CIMB Securities | 0.18% | US$13 | CDP | |
| UOB Kay Hian | 0.18% | US$20 | CDP | |
| DBS Vickers | 0.18% | US$25 | CDP |
When choosing a broker, you may also want to look into the user interface for the platform they use. Make sure you can figure out how it works and use it on your own. This will prevent your broker from tricking you into doing anything you don’t want to do.
Some brokers also provide research reports to help you keep up with what they are doing. Make sure you can understand these reports so that you know if your broker is doing well or not.
Each broker has certain advantages in particular markets. It is best that you determine which market you are aiming to invest in so that you can pick a broker that is most suitable.
Trading means that you are taking your current assets and trading them for others. You tend to make trades quite often with this method. Investing tends to mean you hold onto your asset for a long period of time while it appreciates.
Every type of asset is different. It is important that you know what you’re investing in with, even if your broker does most of the trading for you. This way, you can keep up with any potential value fluctuations in the future.
An investment or online brokerage provides you the means to buy and sell shares through the stock market. Every stock market investor must choose a broker before investing. Some brokers target beginners, so go for those if you are new to stock market investing.
Most online brokerage do not charge a fee for opening a trading account.
Typically, you will need to wait 5-10 business days. The time will vary depending on the platform you choose.
The Singapore exchange or SGX is where you want can trade local company shares.
Exchange-traded funds or ETFs are a great way to invest when you don’t have much to work with. ETFs come in tiny bundles and can be both bought and sold very easily.
Your money is insured against the possibility of a brokerage firm going bankrupt or collapsing. However your insurance does not cover value losses for your investments.
Once you’ve set up your account and has been activated you will need to make an initial deposit.
You first need to consider how much money you have to invest and the type of investment you want to make. Once you’ve found a few platforms that fit your investment objectives, consider any other unique needs you have as well as the reputation of those providers.
Cash Upfront Trading is when you pre-fund your account and leave the deposit with your brokerage firm. The firm’s commission rate will be lower with this method since they have direct control of your investment.
Cash account trading can be done with pre-funding the account. However, you can only make trades with the capital in your account. If your funds dip, you won’t be able to trade anymore.
As we’ve already mentioned, a CDP account allows you to buy and directly own the stocks you’ve purchased. You will be considered the stockholder in every way. This account also keeps your stocks in a central location so that you can easily trade with other brokerage firms. The only disadvantage is that your fees will be higher than with other accounts.
Custodian accounts leave your bought stocks with the brokerage firm. You are not counted as the owner of those stocks. Instead, they are held in a trust. You won’t need to do much as the brokerage firm will deal with the stock directly, but you will still need to pay minor fees from time to time.
Margin trading involves borrowing money for a stock investment, rather than buying the stock yourself. You then slowly repay the broker with your profits.
You will typically make a small starting investment when using margin trading with the hopes of it getting bigger as you pay off your loan. This is a far riskier type of investment as you are essentially using someone else’s money.
The first factor of margin trading is called initial margin. Initial margin is the deposit you need to get started. If your deposit doesn’t reach the initial margin, you will receive a margin call. This occurs when your investment dips too low and ends up below the minimum requirement. When this happens, you must make another deposit to match the initial margin.
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Can I buy stocks online without a broker?
The only way to buy stocks and avoid a broker is to buy them directly from the company. Not all companies offer this service so you will first have to identify the stock you want to buy and then contact that company to see if they make direct sales. Otherwise, you will need to use a broker.
Which brokerage firms should I use?
Hello Teoh, the decision depends on your needs and criteria, you can compare and find the best online brokerages using our comparison tool above.
How do I start stock trading as a beginner? No experience fyi
It’s good to start by educating yourself with books, youtube, seminars etc. If you’d require more guidance, consider engaging a broker. You can compare and find the best online brokerages on our website!
How to buy stocks in Singapore?
Hello, you can contact a brokerage to open an account. Prior to that, what you can do on ROSHI is to compare and choose the best stock broker for yourself.