Singapore Stock Market Guide: Top Platforms, Lowest Fees & Smart Trading

Singapore Stock Market Guide: Top Platforms, Lowest Fees & Smart Trading

Navigating the stock market in Singapore isn’t just about picking stocks—it’s about surviving the maze of fees, platforms, and so-called expert advice.

Whether you’re hunting for the best trading platform in Singapore or trying to figure out which online brokerage in Singapore won’t eat up your profits with hidden charges, the choices can be dizzying. From forex trading in Singapore to the latest hype in stock investment Singapore, every Singapore stock broker and investment firm in Singapore will claim they have the perfect solution (spoiler: they don’t). Do you open a trading account in Singapore and start share trading in Singapore, or let your money nap in a bank while inflation laughs at you? This guide breaks it all down—so you can trade smarter, dodge unnecessary fees, and maybe even make some money.

How do you buy stocks in Singapore?

Buying stocks in Singapore is surprisingly easy—at least on paper. Here’s how it works:

  1. Open a Trading Account – You’ll need a trading account in Singapore with a Singapore stock broker or online brokerage in Singapore. Popular choices include DBS Vickers, POEMS, Tiger Brokers, and moomoo.

  2. Set Up a CDP Account (Optional) – If you want to hold stocks in your own name, you’ll need a Central Depository (CDP) account. Otherwise, brokers hold your shares for you under a custodian account.

  3. Deposit Funds – Transfer money into your trading account. Some platforms offer multi-currency wallets if you’re looking into forex trading in Singapore as well.

  4. Pick Your Stocks or ETFs – Browse the stock market in Singapore (SGX) or even overseas markets if your broker allows it. Consider blue-chip stocks, REITs, ETFs, or if you’re feeling adventurous, US tech stocks from the Magnificent Seven.

  5. Place Your Order – Choose a market or limit order, hit “buy,” and just like that—you’re an investor. Whether you’re share trading in Singapore for dividends or looking for the next big thing, just make sure you know what you’re getting into. What type of stocks or ETFs are there?

Types of Stocks

  • Blue-Chip Stocks – These are big, stable companies listed on the stock market in Singapore, like DBS, Singtel, and Keppel Corp. They’re boring but reliable.

  • Growth Stocks – High-potential companies that may or may not make you rich. Think SEA Limited or some US tech stocks if your online brokerage in Singapore allows international trading.

  • Dividend Stocks – If you like getting paid for doing nothing, consider REITs (like CapitaLand Integrated Commercial Trust) or banks, which give regular payouts.

  • Penny Stocks – Cheap, volatile, and mostly speculative. You could strike gold or end up regretting everything.

  • The Magnificent Seven – These aren’t Singaporean stocks, but many investors here love Apple, Microsoft, Amazon, Google, Tesla, Nvidia, and Meta.

Types of ETFs

  • Singapore Market ETFs – Examples include the Straits Times Index ETF, which tracks Singapore’s top 30 stocks.

  • Global ETFs – If you’re feeling fancy, consider US-based ETFs like the S&P 500 ETF (SPY) or Nasdaq ETFs (QQQ).

  • International ETFs – Want worldwide exposure? Look into ETFs like CSPX (iShares Core S&P 500 UCITS ETF), VWRA (Vanguard FTSE All-World UCITS ETF), or IWDA (iShares MSCI World ETF).

  • Sector-Specific ETFs – There are ETFs focused on tech, healthcare, or even ESG (environmental, social, governance) investing.

  • Bond ETFs – If you want something lower-risk, bond ETFs give steady (but not very exciting) returns.

What type of trading apps are there in Singapore?

  1. Traditional Brokerage Apps (Full-Service, but Not Cheap) These are backed by major banks or investment firms in Singapore, offering research, stability, and high fees.

Examples: DBS Vickers, OCBC Securities, UOB Kay Hian, CGS-CIMB Good for: People who prefer Singapore stock brokers they can call for help (and don’t mind paying for it).

  1. Low-Cost Online Brokerages (Cheap, Fast, and Popular) These are the go-to choices for retail traders who want lower fees and global market access.

Examples: Tiger Brokers, moomoo, Webull, Saxo Markets, Interactive Brokers Good for: Those who want forex trading in Singapore, international stocks, or ETFs like CSPX without paying a fortune in commissions.

  1. Robo-Advisors (For the Lazy Investor – Avoid) Instead of picking your own stocks, you let an algorithm do it for you.

Examples: Syfe, StashAway, Endowus Good for: Hands-off investors who prefer passive stock investment in Singapore—but let’s be real, you can do better.

  1. Multi-Asset Platforms (Trade Everything in One Place) These platforms let you trade stocks, forex, commodities, and even crypto from a single app.

Examples: Saxo Markets, Interactive Brokers, Thinkorswim, eToro Good for: People who can’t decide between stocks and Bitcoin.

  1. Bank-Based Investment Apps (Too Expensive – Also Avoid) These apps let you buy stocks and ETFs, usually at higher fees but with easy integration to your bank account.

Examples: DBS digiPortfolio, OCBC RoboInvest, UOB SimpleInvest Good for: Investors who don’t want to open a separate trading account in Singapore—but at what cost?

My Recommendation: Interactive Brokers

If you want the lowest fees, access to global markets, and the most flexibility, Interactive Brokers (IBKR) is the way to go. Robo-advisors? No thanks. Bank-based investment apps? Even worse. Stick to a proper online brokerage in Singapore, and you’ll save money in the long run.

Which trading apps have the lowest fees?

  1. Interactive Brokers (IBKR) – The Best Overall

✅ Ultra-low commissions (US stocks from USD 0.005 per share) ✅ Forex trading with tight spreads ✅ Access to global markets (Singapore, US, Europe, HK, etc.) ❌ Slightly complex interface for beginners 👉 Verdict: If you care about fees, IBKR is the best option—period.

  1. Tiger Brokers – Good for Budget Traders

✅ Low fees on US stocks (USD 0.005 per share) and SGX stocks (0.03%) ✅ Commission-free promos on ETFs ✅ Decent app for beginners ❌ Custodian fees apply for some markets 👉 Verdict: Cheap and beginner-friendly, but IBKR is still better overall.

  1. moomoo – Low Fees + Freebies

✅ Zero commission on US stocks (for a limited time) ✅ Competitive fees on SGX and HK stocks ✅ Free level-2 market data ❌ Some hidden fees after promo periods 👉 Verdict: Great for beginners who want freebies, but check long-term costs.

  1. Webull – Another Cheap Alternative

✅ Zero commission on US stocks (promo) ✅ No platform fees ✅ Easy-to-use app ❌ Limited SGX access 👉 Verdict: Similar to moomoo—good for promos, but not the best for long-term traders.

  1. Saxo Markets – Low Fees for Frequent Traders ✅ Lower fees if you trade often ✅ Wide access to global stocks, forex, and ETFs ❌ Monthly inactivity fee if you don’t trade 👉 Verdict: Not bad, but inactivity fees can be annoying.

The Worst Choices (Highest Fees)

❌ Bank-based brokers (DBS Vickers, OCBC Securities, UOB Kay Hian) – Fees are way too high. ❌ Robo-advisors (Syfe, StashAway, Endowus) – They charge management fees, which eat into your returns.

What is MAS regulated?

MAS regulated refers to financial institutions and services that are regulated by the Monetary Authority of Singapore (MAS), which is Singapore’s central bank and financial regulatory authority. MAS ensures that financial institutions, such as banks, brokers, investment firms, and trading apps, adhere to the highest standards of transparency, security, and compliance with local financial laws.

Being MAS regulated means the financial institution has passed a stringent set of rules and regulations to protect consumers, maintain financial stability, and reduce risks like fraud and money laundering. For trading apps, it ensures that the platform operates safely and securely for investors, protecting your funds and personal information.

In short, MAS regulation signals that the trading app or institution is trustworthy, complies with Singapore’s strict financial laws, and is subject to regular scrutiny to ensure everything is running smoothly and safely.

MAS regulated apps

  1. Interactive Brokers (IBKR) Regulated by MAS, offering access to global markets with top-tier security.

  2. Tiger Brokers Fully regulated by MAS, providing competitive fees for both local and international markets.

  3. moomoo Regulated by MAS, with strong encryption and secure trading features.

  4. Saxo Markets Regulated by MAS and other global authorities like the FCA and ASIC.

  5. Webull Regulated by MAS for trading in Singapore, ensuring strong security and consumer protection.

  6. OCBC Securities Regulated by MAS, with access to local and international stocks.

  7. UOB Kay Hian Regulated by MAS, providing access to a wide range of investment products.

Where can you park your cash and have interest for free?

  1. High-Interest Savings Accounts (HISAs)

These accounts offer competitive interest rates on your savings without monthly maintenance fees, and they’re often fully insured by the Singapore Deposit Insurance Corporation (SDIC).

OCBC 360 Account Offers attractive interest rates when you meet specific criteria like salary crediting or making regular transactions.

DBS Multiplier Account You can earn higher interest rates by crediting your salary or meeting other qualifying criteria like bill payments or spending.

UOB One Account Similar to others, you’ll earn higher interest by meeting spending or salary crediting conditions.

  1. Fixed Deposits (FDs)

While FDs are more of a commitment, you can park your cash for a fixed term and earn a guaranteed interest rate.

Standard Chartered Fixed Deposits Offers competitive rates depending on the deposit period, with no fees involved.

Maybank Fixed Deposit Flexible terms with decent interest rates and no account fees.

  1. Cash Management Accounts These accounts typically offer higher returns than traditional savings accounts while providing some level of flexibility with your funds.

StashAway Simple An investment option offering higher interest rates on cash deposits with no lock-in period. It provides returns through low-risk, diversified portfolios.

Syfe Cash+ A cash management solution offering decent returns, though it involves low-risk portfolios and isn’t exactly a traditional savings account.

  1. Digital Banks Digital banks like Revolut, YouTrip, and Tide often offer competitive interest rates for savings accounts or cash parked in their digital wallets.

  2. Singapore Savings Bonds (SSBs) These are risk-free bonds backed by the government, offering returns that increase over time. While you can’t access the funds immediately, they are a safe and no-fee option for long-term cash parking.

In summary, if you’re after no-fee interest-bearing options, high-interest savings accounts like OCBC 360 or DBS Multiplier are great for short-term savings, while fixed deposits or cash management accounts are better for longer-term goals. Digital banks and Singapore Savings Bonds can also provide a simple, low-risk alternative for parking your cash.

We won’t be listing specific interest rates because this changes all the time.

Why you should always invest your money?

  • Combat Inflation – Cash in a savings account loses value over time due to inflation.
  • Higher Returns – Investments like stocks, bonds, and real estate offer better returns than traditional savings accounts.
  • Compound Interest – Your returns start earning their own returns, making your money grow faster.
  • Build Long-Term Wealth – Investing helps you save for future goals like retirement or a down payment on a home.
  • Create Passive Income – Assets like dividend stocks or real estate generate income without active work.
  • Leverage Market Growth – Markets, particularly the stock market, have historically provided solid long-term growth.
  • Accessible to All – Investing is now accessible to everyone, regardless of income level.

Should you buy financial instruments from the bank or from financial advisors?

IMHO, no, you should not always buy financial instruments from banks or financial advisors. While banks offer convenience and basic investment options, they may push proprietary products that benefit their bottom line more than yours. Financial advisors, while offering personalized advice, can come with higher fees or potential conflicts of interest if they receive commissions on certain products. It’s essential to shop around, compare options, and consider alternatives like low-fee brokers or robo-advisors that provide more flexibility and often lower costs. Ultimately, making informed decisions based on your own research is key.

Should you short or long stocks?

  1. Long Stocks (Buying)

When to choose: When you believe a stock’s price will increase over time.

Pros:

  • Potential for unlimited upside as the stock price rises.
  • Lower risk compared to shorting, as losses are limited to the amount you invest.
  • More suitable for long-term investors.

Cons:

  • Requires patience, as it may take time for the stock to appreciate.
  1. Short Stocks (Selling Short) When to choose: When you believe a stock’s price will fall.

Pros:

  • Potential to profit when a stock declines in value.
  • Can be used as a hedge against a long position.

Cons:

  • Risk of unlimited losses if the stock price rises instead of falling.
  • More complex and requires careful timing, often with higher margin requirements.
  • Can be risky for beginners.

What is the magnificent seven?

The Magnificent Seven refers to a group of seven major tech companies that have dominated the stock market and investor attention in recent years. These companies are:

  • Apple
  • Microsoft
  • Alphabet (Google)
  • Amazon
  • Tesla
  • Nvidia
  • Meta (Facebook)

These companies are considered the backbone of the modern tech industry, driving innovation and market performance. The term reflects their collective influence on the stock market, as their performance often drives the broader market’s movements.

Always manage your risks!

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