What are trading platforms?
A trading platform is an online software that allows traders and investors to place trades and monitor their assets through financial intermediaries.
Online trading platforms are usually either offered free for investors or at a discounted rate with the requirement of maintaining a minimum funded amount or executing a specific number of trades within the month.
Understanding the basics of a trading platform
Most online trading platforms come with other features such as real-time market quotes, charts and news feed. These features may vary from platform to platform. In fact, these online trading platforms may range from basic order entry screens for beginner investors to sophisticated charts and advanced trading toolkits for the serious investors.
Some online trading platforms may also be specified to certain markets, such as stocks, foreign currency or options markets.
Are these online trading platforms regulated in Singapore?
As online trading may sometimes involve a large amount of capital, it is crucial to ensure that the online trading platform that you are using is regulated and monitored by the appropriate authorities. Trading on unregulated platforms may expose you to the risk of unauthorised transactions on your accounts or fraudulent activities.
Why is it important for me to invest via licensed online trading platforms in Singapore?
The Monetary Authority of Singapore (MAS) licenses certain online trading platforms under the Securities and Futures Act (SFA). Most of these online trading platforms offer financial investment tools that may include shares, futures, and exchange-traded funds. Trading platforms that are licensed under MAS are required to adhere to regulatory safeguards. For instance, these licensed trading platforms need to disclose the investment products that are offered to customers. Licensed online trading platforms are also subjected to financial conduct rules in order to ensure fair dealing with customers. With these regulatory safeguards in place, it protects you as an investor, together with the monies and assets that you have invested.
Keen to embark on your investing journey? Here are some licensed online trading platforms to check out:
Trading Platform |
Saxo Markets |
Speciality |
|
Website | https://www.home.saxo/en-sg |
Address | 3 Church St, #30-00 Samsung Hub, Singapore 049483 |
Contact | [email protected] |
Operating Hours | Weekdays: 8.30am – 5.30pm |
Trading Platform |
Tiger Brokers |
Speciality |
|
Website | https://www.tigerbrokers.com.sg/?_casValidated=true |
Address | 50 Raffles Place, Singapore Land Tower, Singapore 048623 |
Contact | +65 6950 0591 +65 6331 2277 [email protected] |
Operating Hours | Weekdays: 8.30am – 6.30pm |
Trading Platform |
Moomoo |
Speciality |
|
Website | https://www.moomoo.com/en-sg/about |
Contact | 65 6439 1100 |
Operating Hours | Weekdays: 9am-6pm |
Trading Platform |
Standard Chartered Online Trading |
Speciality |
|
Website | https://www.sc.com/sg/wealth/investment/online-trading/ |
Address | View branch locations here |
Contact | View branch contact details here |
Operating Hours | View branch opening hours here |
Trading Platform |
IG Singapore |
Speciality |
|
Website | https://www.ig.com/sg |
Address | 9 Battery Rd, #01-02 MYP Centre, Singapore 049910 |
Contact | +65 6390 5133 |
Operating Hours | Weekends: 8am – 5.30pm |
Trading Platform |
TD Ameritrade Singapore Pte. Ltd. |
Speciality |
|
Website | https://www.tdameritrade.com.sg/ |
Address | 1 Temasek Ave, 15-02 Millenia Tower, Singapore 039192 |
Contact | View contact details here |
Operating Hours | Weekdays: 9am – 5pm |
Trading Platform |
POEMS by PhillipCapital |
Speciality |
|
Website | https://www.poems.com.sg/ |
Address | View branch locations here |
Contact | View branch contact details here |
Operating Hours | View branch opening hours here |
Trading Platform |
OCBC Securities |
Speciality |
|
Website | https://portal.iocbc.com |
Address | #01, 18 Church St, 00 OCBC Centre South, Singapore 049479 |
Contact | View contact details here |
Operating Hours | Weekdays: 8.30am – 5.30pm |
Trading Platform |
UOB Kay Hian |
Speciality |
|
Website | https://www.uobkayhian.com/ |
Address | 8 Anthony Road #01-01, Singapore 229957 |
Contact | (65) 6535 6868 |
Operating Hours | Weekdays: 8.30am – 5.30pm |
Trading Platform |
DBS Vickers |
Speciality |
|
Website | https://www.dbsvonline.com/ |
Address | 12 Marina Boulevard, #10-01, Marina Bay Financial Centre Tower 3 |
Contact | 65 6327 2288 |
Trading Platform |
City Index |
Speciality |
|
Website | https://www.cityindex.com.sg/ |
Address | 168 Robinson Rd, # 20-01 Capital Tower, Singapore 068912 |
Contact | 65 6826 9988 [email protected] |
Operating Hours | Weekdays: 9am – 6pm |
Trading Platform |
CGS-CIMB Securities |
Speciality |
|
Website | https://www.itradecimb.com.sg/app/home.z |
Address | 50 Raffles Place, #01-01 Singapore Land Tower, Singapore 048623 |
Contact | View contact details here |
Operating Hours | Weekdays: 8.30am – 6pm |
Trading Platform |
CMC Markets Singapore |
Speciality |
|
Website | https://www.cmcmarkets.com/en-sg/login |
Address | 9 Raffles Place, #30-02 Republic Plaza Tower I, 048619 |
Contact | 1800 559 6000 |
Operating Hours | Weekdays: 9am – 7pm |
Trading Platform |
FSMOne Fundsupermart |
Speciality |
|
Website | https://secure.fundsupermart.com/fsm/home |
Address | 10, #26-01 Collyer Quay, Ocean Financial Centre, 049315 |
Contact | [email protected] |
Operating Hours |
8:30am to 10:30pm, (Mondays to Fridays except PH) and |
Trading Platform |
Interactive Brokers |
Speciality |
|
Website | https://www.interactivebrokers.com/en/home.php |
Address | 8 Marina View, #40-02A Asia Square Tower 1, Singapore 018960 |
Contact | Contact details here |
Trading Platform |
Lim & Tan Securities |
Speciality |
|
Website | http://www.limtan.com.sg/ |
Address | 16 Collyer Quay, #15-00 Income At Raffles, Singapore 049318 |
Contact | View contact details here |
Operating Hours | Weekdays: 8.30 a.m. to 5.45 p.m. |
Trading Platform |
Maybank Kim Eng |
Speciality |
|
Website | https://www.maybank-ke.com.sg/ |
Address | 50 North Canal Rd, Singapore 059304 |
Contact | [email protected]
+65 6432 1888 |
Operating Hours | Weekdays: 9:30pm to 4:00am |
Trading Platform |
ProsperUs |
Speciality |
|
Website | https://www.prosperus.asia/ |
Contact | [email protected] |
Trading Platform |
Plus500 |
Speciality |
|
Website | https://www.plus500.com.sg/ |
Contact | View contact support here |
Trading Platform |
RHB Securities |
Speciality |
|
Website | http://www.rhbinvest.com.sg/ |
Address | 10 Collyer Quay, #09-08 Ocean Financial Centre, Singapore 049315 |
Contact | 65 6533 1818 |
Operating Hours | Weekdays: 8.30am – 6pm |
What are some of the key considerations when picking an online trading platform?
It is important to bear in mind that not all online trading platforms offer the same features. Here are some key considerations to bear in mind when you are selecting your trading platform.
Fees
Ideally, the lower the fees the better. When buying and selling stocks or assets, there are three main types of fees incurred: clearing fee, trading fee, and commission fee.
The clearing fee and trading fee is imposed by the Central Depository (CDP) and Singapore Exchange (SGX) respectively. Commission fee, on the other hand, is imposed by the individual trading platforms when transactions are made. Trading fees are also dependent on the trade value as well as whether you trade on an overseas market.
Funds deposit and withdrawal
If you are looking to invest as part of your passive income, then it becomes important to know the ease of moving funds in and out of your trading account. If the trading platform offers a linkage to your regular savings account, it may be easier to leave your funds in the linked account to facilitate quick funds transfers should you decide to execute a transaction.
Demo platform
Most professional trading platforms may offer a demo for potential customers. This would be a good opportunity for you to understand the features that the trading platform offers. This is crucial in helping you narrow down your options and decide whether a particular trading platform is able to meet your investment needs.
Interface
A good trading platform should have a user-friendly and easy-to-navigate interface. The difference between the trading platform interface on web and mobile may play a key role in determining the overall user experience as well.
Does the trading platform interface meet your requirements? Are you able to access your transactions and market insights easily? At times, you may end up developing a preference for a particular trading platform simply because of its visually appealing interface.
Functionalities
It is crucial to compare the functionalities of the various trading platforms and whether it is suitable for your investment needs. Are you able to create and view various charts simultaneously? Does the trading platform allow you to create certain trade alerts or scheduling automatic trade executions? These functionalities may be important if you are an active trader that requires detailed insights and analysis.
Investment insights
Some trading platforms offer investment insights as a value-added service.This may include access to live markets, access to market analysis and breaking news, and articles on investment opportunities. A trading platform that can provide you with periodic market updates may be helpful when you need to boost your investment knowledge.
Availability of financial instruments
The type of product or asset that you want to invest in should be a key consideration when selecting your trading platform. Are you looking to invest in stocks, options, for exchange-traded funds? Or perhaps thinking of trying your hand at commodities or futures? Bear in mind that not all trading platforms offer all trading products.
Market access
Not all online trading platforms provide you with access to all financial markets globally. In addition to SGX, most trading platforms in Singapore may allow you to invest in other financial markets such as Hong Kong Exchange (HKEX), New York Stock Exchange (NYSE) and NASDAQ. If you wish to invest in other markets such as London (LSE) or Japan (TSE), then you will need to do your research and ensure that the trading platform you go with provides you with that market access.
Customer Service
If you are a new investor, you may need to get in touch with a service staff quickly. Customer service then becomes an important factor when deciding your trading platform. Is there a dedicated person that you can speak to if you require assistance? Does that website have an online chat function that allows you to state your queries? Is the FAQ section comprehensive and covers basic situations which you foresee you may encounter? While these may not necessarily make or break your decision, it is important to be aware of the extent of help you can get when you need it.
Editor’s Note:
While every precaution has been made to ensure the accuracy and fairness of this listing, we acknowledge that they may be inaccuracies. Therefore, we urge you to contact the service provider above for the correct information and/or contact us with the correct information.
If you are a service provider and wish to be featured in this listing (MediaOne reviews are read by hundreds of thousands of Singaporeans), please contact us at [email protected]. There is no charge! Please allow us up to 3 working days to review before adjusting the information or including your entry.