Top Stock Brokers in Singapore

What Are Stock Brokers?

Stock brokers are usually known as the middlemen in a brokerage firm who handle transactions for retail and institutional customers. They are often paid on a basis of basic commission, which is a percentage of the customer’s purchase or sale price from a flat fee transaction or a mixture of both.

Stocks are usually bought and sold through local and global stock markets. A stock broker is hired to execute a trade on behalf of a company or individual. In another word, a stock broker is an individual or a company that conducts an important intermediary role between buyers and sellers of stocks. The stock broker may also be known as a registered representative, investment adviser, or intermediary broker.

In the advanced age of online trading, there is less demand for human stockbrokers. However, even though there are many online mediums, human brokers are preferred in handling trades, especially for large investment institutions. There are still many instances and scenarios in which an investor wants to work physically with a broker to conduct a stock trade. For instance, they might want the sales to be executed at a specific price, or have multiple transactions executed in a specific order that only humans can manage.

Stock brokers are well-versed in the investment markets and can provide professional advice on the best times to buy and sell stocks. It is their responsibility to help clients to find the best prices possible. As mentioned earlier, a commission is given to the stock brokers in exchange for executing the trade and offering advice.

Responsibilities of Stock Brokers

The roles and responsibilities of stock brokers can range from basic guidance to making investment decisions for customers or companies. The detailed list of their job scopes is as followed:

1. Offer guidance and advice

The greatest responsibility of a full-service stock broker is the personal attention that they offer to their prospects. By providing as much guidance and advice as possible, you can disclose many important information about your finances and financial goals. The stock broker is there to make good recommendations about stocks and funds that are suitable for you.

2. Provide important research details

Full-service stock brokers can give you details about their investment research. This can give you in-depth information and analysis about a particular potential company.

3. Help you achieve your investment objectives

A good stock broker will get to know you and your investment goals. This provides him/her with good insights about your ultimate goals so that you can receive good advice and answers to your questions about specific investments and strategies. This can help you accomplish your wealth-building goals.

4. Make investment decisions on your behalf

Many investors are not interested in making investment decisions. However, full-service stock brokers are the ones who can actually make decisions on your behalf with legitimate authorisation. Besides providing such important services, they can also explain the best choices to you (based on their experiences).

To help you understand more about the industry, we have provided a comprehensive list of top stock brokers in Singapore. The list is filtered through areas such as stock brokerage fees, ownership of stocks, and availability of local and international trading.

Best Online Trading Platforms in Singapore 2021

As multiple trading platforms are available, choosing a suitable online broker could be confusing and disorienting. Here are juxtapositions of best-performing trading platforms in Singapore contingent on a spectrum of considerations, such as commission charges, global market entry, and exchange fees.

In Singapore, one may find 13 major brokerages that one may utilize to trade stocks. Many are helmed by established financial institutions such as DBS, Citi, and Standard Chartered, although some are not affiliated. Every existing brokerage charges a minimum commission per trade, which escalates as the volume of trade swells. Brokers’ fees total S$25-S$28 lowest charge for each transaction. As an example, the typical commission fee for trading below $50,000 is 0.21%. Although, the typical commission fee drops to 0.17% if one is trading sums between S$50,000-S$100,000 and 0.15% were your transaction sums in excess of S$100,000.

Top Stock Brokers in Singapore

CGS-CIMB is one of the top financial service providers in the region, with a presence in 20 countries. They put a prime on extensive and in-depth research, which forms the backbone of their core financial products.

Due to their strong presence in Asia and key markets around the world, investors can take comfort in knowing that the diverse range of products they offer come packaged with relevant information and analysis, breaking down complex market data with trusted opinions and research.

Key Services

• Derivatives
• Equities research
• Institutional equities
• Online broking
• Retail broking
• Wealth management

At DBS Vickers, they value their clients and place a high emphasis on delivering quality service that counts. In 2020, they were recognized as the Best Broker in the FinanceAsia Country Awards.

DBS Vickers offers a convenient way to trade for both beginners and experienced investors. They offer clients a robust online trading platform that gives them access to insights and research on seven key markets, namely:

• Singapore
• Hong Kong
• United States
• Canada
• United Kingdom
• Japan
• Australia

Key Features

• Provides various investment tools that you need in your investment journey:
  • Charting tools
  • Equity advisory
  • Investment analysis tools
• Easy-to-setup features:
  • Trade alerts
  • e-Statements
  • Online instructions

KGI Securities combines domestic investment businesses, including KGI Futures, KGI Securities Investment Trust, KGI Securities Investment Advisory, KGI Insurance Brokers, and KGI Venture Capital to provide clients with a full range of financial products for investment, as well as wealth management services and assistance with fundraising in domestic and foreign capital markets.

Key Services

• Stock trading
• Wealth management services
• Regular savings plan and odd-lot trading
• Loan services
• Insurance services
• Institutional services
  • OSU international security business
  • Capital market business
  • Stockbroking
  • Foreign institutional investments

Lim & Tan Securities provides multiple channels for clients to access its easy-to-navigate online trading platform to check prices and trade. This includes the mobile trading channel using mobile phones, where clients can view streaming live prices, which was added in June 2008.

To provide a fast and convenient way for clients to trade shares online, it introduced iPhone, Android, and iPad Apps for more convenient on-the-go trading under its Online trading brand name, limtan.com.sg in 2011 and early 2012.

Key Services

• Contract For Difference (Direct Market Access) – Singapore Stock Exchange market only
• Share margin financing
• Cash collaterised financing

Maybank Kim Eng Securities Pte Ltd is a corporate finance advisory and stock brokerage firm in Singapore with one Investor Centre and two Customer Service Centres. They are a wholly-owned subsidiary of Maybank Kim Eng Holdings Limited.

Key Products and Services

• Stocks
• Warrants
• Exchange Traded Funds (ETFs)
• Real Estate Investment Trust (REITs)
• Daily Leverage Certificates (DLCs)

Markets

• Singapore Stock Exchange (SGX)
• London Stock Exchange (LSE)
• New York Stock Exchange (NYSE)
• Hong Kong Stock Exchange (HKEx)
• Shanghai-Hong Kong Stock Connect
• NASDAQ
• NYSE Arca
• Bursa Malaysia
• Stock Exchange of Thailand (SET)

PhillipCapital provides a wide range of services to cater to your company’s needs from financing, investments, and IT solutions to real estate. They cater to retail investors, affluent clients, and institutional investors.

Key Products and Services

• Institutional broking and corporate services
• Multi-asset trading and wealth planning
• Corporate bonds
• Cash financing
• Contract For Differences
• Corporate finance services
• Environmental, Social, and Governance (ESG) investing
• Exchange Traded Funds (ETFs)
• Forex
• Futures
• Global markets equities
• Insurance

OCBC Securities provides securities, derivatives, and leveraged foreign exchange trading services. They give their clients access to more than 29 exchanges around the globe through a secure, end-to-end encryption-capable trading platform.

Established in 1986, OCBC Securities has been awarded multiple accolades. In 2022 alone, they received the Investment Product Innovation of the Year – Singapore award from the Asian Banking & Finance. In the same year, they were awarded Best Mobile Trading Platform and Most Innovative Trading Platform by Global Banking and Finance.

Key Products and Solutions

• Securities
• Bonds
• Leveraged Futures
• Leveraged Forex and Precious Metals
• Financing and Borrowing

RHB Securities Singapore Pte. Ltd. is the fourth largest financial services provider in Singapore. They provide clients with the highest level of personal service and support and a wide suite of financial products and services. Their excellent service has earned them the distinction of Outstanding Community Partnership Award (Organisation) from the Commercial Affairs Department Annual Community Partnership Award 2022.

Key Services

• Personal banking
  • Loans
  • Insurance
  • Investment
• Business banking
  • Loans and deposits
  • Trade
  • Treasury
  • RHB Reflex (internet banking for businesses)
• Asset management

Headquartered in Singapore, UOB Kay Hian is supported by more than 80 branches. In business since the early 1900s, they have established themselves as a reliable financial partner to various clients in the region. Their prestigious client base includes institutions, corporations, affluent individuals, and retail investors.

Key Products

• Bonds
• Contracts for Difference Equities (CFD Equities & ETFs)
• Contracts for Difference Indices (CFD Indices)
• Daily Leverage Certificates
• Equities and ETFs
• Leveraged Foreign Exchange
• Margin Trading
• Robo advisory
• Structured products
• Unit trusts

Citibank Brokerage offers its clients an easy-to-use platform for their trading and other transactions. With an extensive rage of resources, Citibank enables you to trade in the following markets:

• NYSE
• NASDAQ
• AMEX
• HKEX
• SGX

Other Key Products

• Unit Trusts
• Online Unit Trusts
• Foreign Exchange
• Fixed Income Securities
• Citibank Brokerage
  • Exchange-Traded Funds (ETFs)
• Time Deposits
• Online Time Deposits

FSMOne.com has over 20 analysts, portfolio managers, and content writers in their offices across Singapore, China, Hong Kong, Malaysia, and India, constantly looking for ideas that would make you money.

With one account with them, you can profit from the following:

• global unit trusts and mutual funds;
• local and global bonds;
• Singapore, Hong Kong, and U.S. stocks;
• Managed Portfolio services; and
• insurance products.

Saxo Capital Markets Pte Ltd. (“Saxo Markets”) is a licensed subsidiary of Saxo Bank A/S, an online trading and investment specialist that empowers you to invest across global financial markets.

Saxo provides technology that allows businesses of all sizes to access global exchanges. Their capital markets solutions empower banks, brokers, financial investors, and fintechs to deliver trading and investment services to their customers.

Key Products

• Leveraged products
  • Forex
  • CFDs
  • Futures
  • Commodities
  • Forex and listed options
• Investment products
  • Stocks
  • Bonds
  • ETFs
  • Managed portfolios & investments

Standard Chartered is an international bank that serves people and businesses in Asia, Africa, and the Middle East. They offer low brokerage fees for new users, giving them access to 12 stock exchanges across the globe.

Key Solutions

• Unit trusts
• Online trading
• LiveFX – real-time forex conversion platform
• SC Goals Planner – financial planning tool for consumers
• Interactive Fund Library – repository of research, fact sheets, and fund comparisons

Tiger Brokers Singapore Pte Ltd (Tiger Brokers Singapore) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade, offers the following features:

• Complimentary real-time stock quotes
• Dedicated multilingual customer service during trading hours, and
• 24/7 finance news updates

Investors may use Tiger Brokers’ proprietary fintech platform to allocate their assets globally across multiple countries, exchanges, and currencies. Tiger Brokers offers some of the most competitive commissions in the industry.

Interactive Brokers LLC brokers stocks, options, futures, EFPs, futures options, forex, bonds, and funds. The company has recently established in Singapore to serve traders and wealth managers in the rapidly growing financial hub.

Key Solutions

• IBKR GlobalAnalyst – lets you search for undervalued stocks around the world
• PortfolioAnalyst^® – reporting dashboard for on-the-go analytics
• Bonds Marketplace
• Mutual Funds Marketplace
• No Transaction Fee ETFs
• Short Securities Availability
• Cash Management
• Third-Party Integration

Syfe is a digital wealth manager that helps you invest your money in intelligent portfolios. They combine leading investment strategies with cutting-edge technology and good financial services.

Created for investors in July 2019, Syfe is on a mission to make it easy for people to access smart and affordable financial services. This way, anyone can begin managing their money and growing wealth in the smartest way possible. Syfe’s all-in-one platform allows users to access simple and affordable investing options.

Syfe’s Four Portfolio Categories

• Core – Holds equity, bond, and gold ETFs
• REIT+ – A Singapore REIT-focused portfolio
• Select – Choose from a carefully curated list of ETFs
• Cash+ – A cash management portfolio with projected returns of 1.9% p.a.

The Ministry of Investments offers valuable insights into investing. It offers stock recommendations, stock quotes, and other important pieces of information for both novice and seasoned investors. The website also provides links to other websites based on your subject of interest.

Key Areas

• Singapore Stocks Trading Fees
• Info on upcoming IPOs
• Equity News
• Commodity
• Bond prices
• World markets

iFAST Financial Pte Ltd is an investment platform that allows users to consolidate a varied selection of investment products into a single portfolio. Besides offering financial advisory services, the company provides transaction recording, portfolio valuation, capital markets, and reporting.

Key Products and Services

• Unit trusts
• ETFs
• Corporate Pensions
• iFAST Global Prestige (iGP) – for high net-worth individuals
• Parking Facilities
• White Label Service

Goldman Sachs provides a wide range of financial services such as brokerage services, investment management, securities, asset management, prime brokerage, and securities underwriting. In addition, they offer the following services:

• Agency securities lending
• Capital introduction
• Futures
• Hedge fund consulting
• Risk management and financing
• Securities lending

StashAway was founded in Singapore in 2016 and was the first robo-advisor to obtain full capital-markets services. It is an intelligent wealth management platform designed to build and protect your wealth, whether that amount is small or big.

Key Services

• General Investing
• General Investing powered by StashAway
• General Investing powered by BlackRock^® 
• Responsible Investing with ESG
• Thematic Portfolios

Low-Cost Online Trading in Singapore: Tiger Brokers

Tiger Brokers

Ponder this if you seek the most affordable online brokerage

Bonus:

Fresh clients are entitled to five commission-free trades for stocks denoted in USD and HKD, fee-free 30-day duration of market data for US markets, and trading tickets for cash inputs of S$2,000 and above

Tiger Broker Trading Charges

Futures USD$0.99-USD$2.99

* No extra charge until Dec 31, 2020; upon which, fees amount to S$2.88

Stockbroking is a profession that involves buying and selling securities on behalf of clients, usually for a commission. In Singapore, the stockbroking industry is highly regulated, and only licensed brokers are allowed to operate.

However, the demand for stockbrokers remains high, as Singapore is a major financial hub in Asia.

If you are considering a career in stockbroking in Singapore, there are some essential tips you need to know to succeed. In this article, we provide you with some useful advice on how to become a successful stockbroker in Singapore.

Get a relevant degree or certification
To become a stockbroker in Singapore, you need to have at least a bachelor’s degree in a relevant field such as finance, economics, accounting or business. Many stockbrokers also hold professional certifications such as the Chartered Financial Analyst (CFA) or the Financial Industry Regulatory Authority (FINRA) license.

Having a degree or certification not only enhances your credibility as a stockbroker, but it also equips you with the necessary knowledge and skills to make informed investment decisions for your clients.

Develop your analytical skills
Stockbroking involves analyzing market trends, financial reports, and other data to make informed investment decisions. As such, you need to have strong analytical skills to interpret and make sense of this data.

To develop your analytical skills, you can start by reading financial news and reports regularly, and studying market trends and historical data. You can also take courses in data analysis, statistics, and financial modeling to further improve your skills.

Gain experience through internships or apprenticeships
Gaining practical experience is essential to becoming a successful stockbroker in Singapore. You can gain this experience through internships or apprenticeships with established brokerage firms.

During your internship or apprenticeship, you will have the opportunity to observe experienced brokers and learn from their strategies and techniques. You will also gain exposure to the day-to-day operations of a brokerage firm, which will give you a better understanding of the industry.

Build a strong network
Networking is essential in any industry, and the stockbroking industry is no exception. Building a strong network of contacts in the industry can help you gain new clients, access new investment opportunities, and stay up-to-date with the latest trends and developments.

You can start building your network by attending industry events and conferences, joining professional associations, and connecting with other professionals in the field through social media and other online platforms.

Develop strong communication and interpersonal skills
As a stockbroker, you will be dealing with clients on a daily basis. It is therefore essential to have strong communication and interpersonal skills to build trust and maintain good relationships with your clients.

To develop your communication and interpersonal skills, you can take courses in public speaking, negotiation, and conflict resolution. You can also practice active listening and empathy to better understand your clients’ needs and concerns.

Stay up-to-date with industry developments
The stockbroking industry is constantly evolving, with new investment products and technologies emerging all the time. To stay relevant and competitive, you need to stay up-to-date with the latest industry developments.

You can do this by reading financial news and reports regularly, attending industry events and conferences, and participating in online forums and discussion groups. You can also take courses and attend training sessions to learn about new investment products and strategies.

Be patient and persistent
Becoming a successful stockbroker in Singapore takes time and persistence. You may face setbacks and challenges along the way, but it is important to remain patient and persistent in pursuing your goals.

Building a successful career in stockbroking requires a long-term commitment to learning, growing, and building your reputation in the industry. With patience and persistence, you can overcome obstacles and achieve your career objectives.

Focus on providing value to your clients
Ultimately, the success of a stockbroker depends on the satisfaction of their clients. To build a successful career in stockbroking, you need to focus on providing value to your clients by delivering excellent service, offering sound investment advice, and achieving strong investment returns.

By putting your clients’ interests first, you can build a loyal client base and earn a reputation as a trusted and reliable stockbroker in the industry.

Conclusion

Becoming a successful stockbroker in Singapore requires hard work, dedication, and knowledge. By following the tips outlined in this article, you can develop the skills and qualities necessary to thrive in this dynamic and challenging industry.

Remember to focus on providing value to your clients, building a strong network, and staying up-to-date with the latest industry developments. With patience, persistence, and a commitment to continuous learning and growth, you can achieve your career goals and build a successful career in stockbroking in Singapore.

Top Market Entry on a Virtual Trading Platform in Singapore: Saxo Markets

SAXO Capital Markets

Ponder this option if you seek a trading platform with high market entry and low fees

Bonus:

Fresh clients may not be required to foot a lowest commission fee to trade SGX equities through to April 30th, 2021. Furthermore, fresh and old clients are granted free entry to instant level 1 fees for Singapore stocks and CFDs.

Saxo Markets Stock & ETF Trading Fees

* Saxo min. SG: S$0- For fresh clients (Through Apr 30th, 2021); US:$3-$4; JPY1,000-1,500; HKD60-90; EUR6-12

Saxo Markets Forex Spreads

Guest Mention For Best Market Access: Interactive Brokers

Interactive Brokers

Ponder this if you seek to invest globally

Bonus:

For trading securities in non-Singapore markets, Interactive Brokers’ commission levels are difficult to outshine. This appeals to investors that may feel trapped by the amounts of stocks on the Straits Times Index and are likely to ponder other choice.

As you may witness in the table below, Interactive Brokers charges competitive commission fees for any location beyond Singapore.  Moreover, Saxo is the top choice for those who seek entry to every market as well as Singapore.

Interactive Brokers – Additional Features

Fee Contrast: Interactive Brokers & Saxo Markets Fee Contrast

Best Online Trading Platform for Beginners

SAXO Capital Markets

Consider this if you are a novice in investing

Bonus:

Fresh clients need not foot an entry commission charge to trade SGX equities until April 30th, 2021. Furthermore, fresh  and old clients obtain free entry to instant level 1 prices for Singapore stocks and CFDs.

Saxo Markets provides the top online trading platform for those who seek to invest online. With SaxoTraderGO, their platform planned for new traders, clients obtain entry to a range of tools to assist in search for the top options to trade.

For instance, their Fundamental Analysis Tool researches company indicators to allow you to decide on what to invest in.

Interactive learners may also gain enrichment from annotation details to conserve and annotate listings, graphs, and more. Also, the platform mixes both in-house and third-party analyses to regularly provide you instant updates, between mobile or desktop usage.

Saxo Markets also charges certain of the most affordable charges in the market (for, among others, Singapore, the US, Hong Kong, and Japan), possesses the most substantial global market reach, and lets you trade a spectrum of instruments like stocks, bonds, ETFs, mutual funds, foreign exchange, futures, etc.

Also, before opening an account one may assess a platform on their website and attempt a 20-day free run to attempt playing on the platform. Although starting to trade virtually seems hard, Saxo Market will provide you with all the accessories to enter the market at affordable charges.

Top Platforms for CFD Trading

Contracts for difference (CFDs) let people gamble on the potential fee of an inherent property, without the actual possession of property. CFDs are also traded on priority, granting traders bonus buying capacity. Due to this, they are prevalent among senior traders in Singapore. Here are two platforms that are optimum for CFD trading.

Top Online Brokerage for Trading CFDs: City Index

City Index

Ponder this if you are an old trader of CFDs

Bonus:

Commission Contrast: City Index, Saxo Markets, IG

Guest Mention for Trading CFDs: IG

IG

Ponder this if you seek to trade CFDs on a platform with enhanced educational materials

Bonus:

IG is an alternative top brokerage with CFD offerings. Though commission charges are usually higher than those of City Index, it provides certain features that make it a good investment. Firstly, IG lets investors moderate their exposure by trading partial sums of a contract (e.g. 0.5 contracts of spot FX EUR/USD).

Additionally, IG provides Knockout CFDs, which are a special instrument that lets traders decide their maximum losses before investing. This product instantly moderates margin needs founded on the user’s individual “knockout level”, or maximum loss.

IG also provides a premium CFD education platform through IG Academy, allowing new traders to experiment risk-free with an account. Ultimately, IG’s grouping with Singapore Airlines grants users KrisFlyer Miles on each trade.

Job Requirements for Stock Brokers

While there are no specific educational requirements for becoming a stock broker, related degrees or coursework will certainly give you an advantage in the job.

1. Education

For educational requirements, you might want to consider an undergraduate degree in business management. Most stock brokers have a master’s in business administration (MBA) or a masters in finance. It also helps if you have some coursework in mathematics, statistics, wealth management, and quantitative analysis.

2. Experience

Stockbrokers often start working for a brokerage firm or bank in a different role (many begin as college interns) and then gain on-the-job experience. To become a broker, they must show a deep understanding of financial markets, regulations, and accounting practices.

3. Exam qualifications 

Stock brokers should also pass the general test, commonly known as the Series 7 exam, administered by the financial advisory industry. The exam is typically difficult and consists of many multiple-choice questions that must be completed within the time allocated. In some circumstances, it is combined with another separate test to validate the individual’s capabilities.

These exams will permit a broker to buy and sell most stocks. It is important to find out what are the required exams available to gain certifications or registration in various states.

Working Environment for Stock Brokers

To make it as a successful stock broker or any other financial roles, you’ll need to work long hours, especially in the beginning when you’re building your list of clients.

The typical job of a stock broker consists of advising and selling to potential clients – especially when you earn your pay through commissions.

As a stockbroker, if you managed to communicate well and build good rapport with your prospects, you’ll have an easier life in the industry. Moreover, it is common for stock brokers to be able to handle rejections well. The job tends to be very competitive since one stock broker can help you to purchase stocks as easily as another.

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.