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Best Trading Platforms In Singapore – Trading – Trade finance signifies financing for trade, and it concerns both domestic and international trade transactions.

A trade transaction requires a seller of goods and services as well as a buyer. Various intermediaries such as banks and financial institutions can facilitate these transactions by financing the trade.

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Top 10 Best Trading Platforms In Singapore [2023]

1. Tiger Brokers

Tiger Brokers is a leading online trading platform in Singapore that is supported by Xiaomi and listed on NASDAQ. Tiger Brokers made it to the top of the list of best online trading platforms in Singapore with their low fees and worldwide market accessibility. Singapore, the United States, Hong Kong, China, and Australia are among them. There are several more places where you can access stocks, ETFs, options, warrants, CBBCs, REITs, futures, and more on multiple markets from a single account.

Client Testimonial:

I have been using Tiger brokers for close to a year. I think it’s suitable for investors of all levels and it’s commission free for first 180days! Investors with DBS account can deposit funds within seconds. Use referral code UHAYU7 to enjoy rewards together!

Tan Junhao

2. Interactive Brokers

Interactive Brokers (IBKR) has been on the NASDAQ since 2007 and recently established an office in Singapore in July 2020. IBKR is a well-known brokerage that has already been utilized by numerous investors in Singapore before its debut in Singapore.

To use IBKR in Singapore, a Singaporean must first become an IBKR Pro user. You can use all of the services that IBKR has to offer as an IBKR Pro user, including their sophisticated technologies such as IBKR algorithms, APIs, and tools that Lite Users are unable to access. More than 40 ETFs with no transaction costs.

Client Testimonial:

Waiver of monthly inactivity fee is definitely a welcome addition. One of the best brokerages due to its wealth of tools for sophisticated/more experienced investors.

Wong Yu Sim

3. City Index

The New York Stock Exchange-listed GAIN Capital launched City Index as a trading brand in 1983. As a global CFD and FX broker, City Index is authorized by several financial authorities throughout the world, including the Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA) and Australian Securities and Investments Commission (ASIC).

City Index is known as a safe and reliable trading platform for traders and investors due to its long history of 38 years, global presence bolstered by its listed parent company, and accreditation by several of the world’s leading financial regulatory bodies.

As a welcome present, all new clients may obtain a one-year all-access pass to The Wall Street Journal for S$480 when they make a minimum deposit of S$6,500 on account opening. Additional information can be seen in the Terms and Conditions.

Client Testimonial:

Experience so far has been good. The relationship manager has been prompt with replies and comfortable explaining trades to me. Fund transfers have been hassle-free and no issues so far *fingers crossed*

The products offered have been complete and adequate for me. Good for starters and new users. The platform is easy to use and has functionalities comparable to other market players.

Will write a review again if anything comes up. Maybe some constructive user feedback will help them transform and improve further.

Ee Kim

4. moomoo (by FuTu SG)

Moomoo by Futu SG, an online trading platform based in Singapore, made its debut by offering a free AAPL share pre-launch and during their launch. You may simply discover popular equities and hot industries to invest in with a variety of tools at your disposal. It can filter by market cap, change rate, turnover, trade volume, P/E ratio, among other things. Moomoo by Futu SG is a good choice for novice traders since it charges only US$0.99 per stock in the United States, HK$3 in Hong Kong, and S$0.99 in Singapore.

If you’d like to learn more about moomoo by FUTU SG, check out our post here, which goes through everything you need to know about investing on moomoo by FUTU SG. Finally, as a welcome present, you may receive free Apple and Nio shares if you make a min. deposit of S$2,700 and complete 5 trades after opening an account and getting it approved.

Client Testimonial:

Futu has an excellent Customer Service Team. Kudos to Lynda, Rachel and Winnie for assisting me to resolve my voucher issue. It was a very smooth process without any hiccups. They are very responsive in replying to my emails. At times, I even received emails from them after working hours. Very responsible and passionate about their work. This is what an “A Team” should be. Your boss has very good insight to make the decision to hire this team.

Edmund Fong

5. Saxo Markets

Because it’s so popular among investors, it’s no surprise that Saxo Markets made the list of top online trading platforms in Singapore. The online broker provides a wide range of trading instruments, including basic equities and bonds as well as more sophisticated products such as forex, CFDs, and other leveraged products. Even though it’s relatively easy to open an account, if you’re looking for a no-hassle approach, there are additional options like debt consolidation loans or gifts of stocks and bonds. They also provide more sophisticated savings products, such as regular savings plans and managed portfolios, designed particularly for people who want to be more passive investors.

You may also download their unique learning platform, which offers a wealth of instructional and motivating material to assist you in your investing adventure.

Client Testimonial:

One of the most intuitive and user friendly platforms out there in the market. Offers a wide range of asset classes across global markets – perfect for the multi asset long-term investor. Margin calculations can be easily understood from the interface. Performance analysis is also very useful to understand the return drivers of your portfolio better. Highly recommended for both new and experienced investors!

However, for a basic account user, there is no 24/7 chat available although all of your queries can be addressed via a ticket system and usually takes a few working days to be resolved. The customer support gets better for platinum accounts and above.

Asyraf Salman

6. POEMS

POEMS, one of Singapore’s oldest online brokerages, has over forty years of expertise. POEMS has amassed over 40,000 types of financial products in its catalogue and is active in 15 different countries around the world, including the United States, the United Kingdom, Australia, Japan, and Hong Kong.

POEMS allows you to perform numerous methods of account funding, and most of them don’t cost anything. Overall, POEMS is a trustworthy choice for investors and traders who want broad market access, credibility, and a large variety of instruments.

Client Testimonial:

Have been using Poems ever since I started trading 🙂 happy with my trading experience thus far, hence no wish to change to other platforms. Customer support provides accurate information, and refers us to our brokers when they are unable to provide exact details pertaining to our accounts.

Abundance Rebecca Chiang

7. Maybank Kim Eng

The fully-owned investment arm of Maybank is Maybank Kim Eng. Maybank Kim Eng serves as a one-stop shop for individuals seeking to build a diversified investment portfolio, with its wide range of products and market access. Maybank Kim Eng caters to a wide range of investor types and goals, with a diverse range of leveraged and non-leveraged trade instruments, such as equities, shares, ETFs, bonds, FX and CFDs.

Maybank Kim Eng is an excellent place for novice investors to get their feet wet with a variety of assets.

Client Testimonial:

strong broker with broad product offerings.

Han C

8. OANDA

Oanda has a long history of more than 25 years of expertise and several regulatory approvals across the world, including Singapore and other tier-1 jurisdictions. Oanda is a highly reputable online brokerage, since it has built up a reputation for providing quality customer service. As such, many FX and CFD traders use Oanda as their preferred online brokerage. Some 55+ commodities, metals, bonds, and indices are available through Oanda.

Aside from that, Oanda offers high-quality research and educational materials to help traders enhance their chances of success. This includes a combination of news headlines, in-house material, and premium sources from prominent think-tanks.

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Oanda is best suited for experienced traders and long-time investors who have already decided on a trading focus. Newbie traders, nevertheless, may find value in an Oanda account for the quality of its analysis and news. When you use OANDA’s commission’s pricing choice, you may save money on spreads.

Client Testimonial:

Great broker. Honest and sincere in their business. My go to trading platform.

aENT Marketplace

9. IG

IG is a mobile app that’s been around for more than 45 years, has a listing on the London Stock Exchange, and has received several top-tier government regulatory approvals from all over the world. With such a solid track record, it’s no surprise IG cut as one of Singapore’s best online trading platforms.

IG is one of the world’s largest providers of CFDs and forex trades (FX) with more than 17,000 markets and 104 FX pairs. IG also has one of the most user-friendly trading platforms, so novices can feel comfortable investing in the app. You may also take advantage of IG Academy’s online courses and webinars for free.

Client Testimonial:

Im not sure why people have had such bad experiances. I’ve found IG to be really good, nice app, often get straight through on the phone, reliable service. Zack in SG was very helpful today and sorted out my querries.

Dan Critchley

10. UOB kay Hian

What’s better than closing out our list of the top online trading platforms in Singapore with UOB Kay Hian? Because it is the largest broker in Singapore, UOB Kay Hian provides a large range of investment products: UTs, ETFs, Bonds, CFDs, and FX. However, it is surprising to learn that UOB Kay Hian conducts trading on just a few stock exchanges – Singapore, Malaysia, Hong Kong, and the United States.

Despite this, with the backing of one of Singapore’s largest brokers and a respectable bank, you may feel confident in choosing UOB Kay Hian to begin your investing adventure.

Client Testimonial:

I had experienced challenges with investing with SRS account. UOB client concierge and customer care was the reason why I had switched from another major bank. Terence had been helpful to guide me through the process and prerequisite. I am looking forward to invest my retirement fund with Terence in years to come.

KBoxD Vo

Olymp Trade: A Review | Best Trading Platform of 21st Century?

Trading Platform Singapore

After reading this article, you should be able to make a more informed decision when choosing the best trading platform for your needs. The 10 platforms we have listed are tried and tested, so they will give you confidence in knowing that your money is safe. We hope this list has helped you find the best trading platform for your needs. Which one did we miss? Let us know!

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How does Folio Investing work?

Folio Investing is an online investment platform that offers self-directed brokerage accounts with access to stocks, fractional shares, exchange-traded funds (ETFs), mutual funds, American Depository Receipts (ADRs) and real-estate investment trusts (REITs).

A variety of accounts are available, including a comprehensive lineup of retirement accounts, and investors have access to tax-loss harvesting, automated portfolio rebalancing and margin trading.

Among the platform’s offerings are “folios” — bundled investment baskets of up to 100 stocks, mutual funds and ETFs. Investors can select from over 160 Ready-to-Go folios or customize their own. Market research is provided by Quotemedia and investors have access to charting tools to track their investments against indices, mutual funds and individual securities.

How easy is it to use?

According to investor feedback on Reddit, Folio Investing’s platform is outdated and cumbersome to navigate. Similar feedback has been reported on Folio Investing’s mobile app from both Android and Apple users.

Folio suggests that its account signup process can be completed online — but as the platform currently isn’t accepting new investors, we were unable to explore the application process.

Who is Folio Investing best for?

Folio Investing may be a practical fit for:

• Passive investors. Automated features like portfolio rebalancing and tax-loss harvesting can help passive investors make the most of their funds without copious research or account monitoring.
• Buy-and-hold investors. Ongoing commissions make Folio Investing’s fee structure better suited to buy-and-hold investors executing fewer trades than day traders.

Prepackaged folios make this platform ideal for investors seeking structured, guided investments. And features like automatic portfolio rebalancing allow for a set-it-and-forget-it approach that helps reduce the stress of consistently monitoring your investments.

That said, Folio Investing isn’t for everyone. Its window trading feature, ongoing commissions and lack of sophisticated research tools may not be able to meet the needs of active traders.

Pricing and fees in Trading Platform Singapore

Folio Investing isn’t priced competitively when compared to its peers. Not only does it charge ongoing monthly subscription fees — a rarity in the industry outside robo- and human-managed portfolios — it also charges hefty commissions with added fees for investors who want to execute market, limit, stop or stop-limit orders.

Compare Folio’s fees to the commission-free trading available through most brokers on the market, like Charles Schwab, Robinhood, TD Ameritrade and Webull, and its pricing structure is all the more unappealing. Granted, Folio’s prepackaged folio investment baskets are a unique offering, but investors will need to gauge whether this feature is worth the ongoing cost.

Folio’s fee structure is complex. Unlimited accounts are billed on a monthly or annual basis. Basic accounts, on the other hand, are billed on a quarterly basis — but the $15 fee only applies to investors who hold tradable securities in a funded account who have made three or fewer trades in the previous quarter.

The structure of its commission fees is also confusing. Folio charges commissions based on “Window Trading,” with fees that apply per window, per security. Window Trading groups orders together by side and symbol until each Window Trade deadline. After these deadlines — which Folio states occur one or more times daily — orders are executed and processed. You can only place one order per folio in any given Window Trade.

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Is Folio Investing legit?

Folio Investing was founded in 2000 and is headquartered in McLean, Virginia. It is an accredited business with the Better Business Bureau (BBB) and has no complaints on the Consumer Financial Protection Bureau.

Folio Investments is a registered broker-dealer and member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Cash balances are FDIC-insured and extended insurance of up to $4.5 million for individual accounts and up to $9 million for joint accounts is available.

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Folio Investing reviews and complaints

Overall, Folio Investing feedback is fairly negative. As of October 2020, it’s an accredited business with the BBB, but receives an average rating of 1 out of 5 stars from a total of 10 customer reviews. It also has 34 official BBB complaints.

On the BBB, Folio investors warn of slow-to-respond customer service and high ongoing fees. Most BBB complaints come from Motif customers acquired by Folio who experienced difficulty accessing and transferring their assets.

Reddit feedback on the investment platform is also unfavorable. While a few Redditors mention Folio’s fee structure may be advantageous for investors with large portfolios, there are numerous complaints of the platform’s clunky user interface, poor customer service and high fees.

Folio’s mobile app also misses the mark, scoring 1.2 out of 5 stars after 85 ratings on Google Play and 1.1 out of 5 after 107 ratings in the Apple App Store. Investors complain of login loops, app crashes and an outdated interface.

Pros and cons of Trading Platform Singapore

Pros

• Account variety. There’s no shortage of accounts to select from, including individual, joint, custodial and a lineup of business accounts and IRAs.
• Prepackaged investments. Folios are prepackaged investments of up to 100 stocks, mutual funds and ETFs. Select from over 160 Ready-to-Go folios or customize your own.
• Fractional shares. Diversify your portfolio by investing in fractional shares.
• Tax-loss harvesting. Take advantage of tax-loss harvesting by letting Folio identify securities to sell to generate gains or offset losses.

Cons

• High fees. Unlike many of its competitors, Folio Investing still charges commissions on trades and ongoing monthly fees may eat into your bottom line.
• Limited securities. Investors interested in options, futures, bonds, forex or cryptocurrency will need to look elsewhere.
• Negative feedback. Folio Investing receives poor feedback on the BBB, Reddit, Google Play and the Apple App Store.

How do I sign up?

As of October 2020, Folio Investing is not accepting new investors due to its recent acquisition by Goldman Sachs.

Olymp Trade: A Review | Best Trading Platform of 21st Century?

How do I contact Folio Investing support?

There are three ways to reach out to Folio Investing support:

• Phone. Folio support is available toll-free at 888-973-7890 or internationally at 703-245-5772 weekdays from 7 a.m. to 9 p.m. and weekends from 8 a.m. to 4 p.m. ET.
• Email. Fill out a secure online form on Folio’s website or shoot an email to [email protected].
• Mail. Send hand-written queries to Folio Investing, 8180 Greensboro Drive, 8th Floor, McLean, VA 22102.

Olymp Trade: A Review | Best Trading Platform of 21st Century?