Compare the Best Interactive Brokers Online Investment Brokerages in Singapore 2026
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Interactive Brokers Singapore (IBKR)
What is Interactive Brokers?
Who is Interactive Brokers best for?
Interactive Brokers is best for Singaporeans who are already trading and investing frequently, and are looking to trade wider range of products across global markets.
Advantages and Disadvantages of Interactive Brokers (IBKR)
Low Commission Fees
IBKR charges lower commission fees that start from $0.0005 per share, which is one of the lowest commission fees in the industry. When considering other types of assets like options, futures, and forex, IBKR's commission fees are also competitive. For example, IBKR charges $0.65 per contract for US options trades. This is lower than the commission fees charged by many other brokerages. Experienced traders who trade in higher volumes can get to enjoy even lower commission fees. For example, to qualify for the 0.050% commission rate for Singapore shares, you will need to have a monthly trading volume of at least S$2.5 million.
Attractive Rates
IBKR pays about 4.83% (as of September 7, 2023) of interest rates on instantly available cash balances, and has attractive margin loan rates ranging from SGD 4.951% to 5.951%.
#3 Worldwide Access
You'll be able to access a comprehensive variety of trading instruments and products – from stocks, ETFs, warrents, to futures, spot currencies, commodities, and more across 150 markets in 33 countries and with 27 currencies.
Minimum Deposit
For basic consumer accounts such as the IBKR Lite (only for US citizens) or IBKR Pro (you'll probably be using this), there are no minimum deposits nor minimum account balance to maintain. If you're eligible to open a margin account, there is a USD100 minimum deposit requirement.
Maintenance Fees
As with all brokerages, there are other fees you should take note of (listed below), such as Monthly Activity Fee, API fees if you require the Trader Workstation.
Complex Commission Structure
User Experience
For Beginners
If you're an average Singaporeans just starting to invest and trade, the IBKR website's amount of information, instruments, markets, fees and pricing structures may seem confusing at first sight. Here's a suggestion: click on the "Free Trial" and go for a paper account.
Learn To Trade
Interactive Brokers offers an educational platform called IBKR Campus with 5 different categories of learning materials – Trader's Academy to learn how to use the Trader Workstation platform, Webinars, and Insight for market news and analysis, Quant for technology news, and Student Trading Lab for educators.
Trading Platforms
There are 4 main Interactive Brokers online trading platforms – a website client portal, a desktop software called Trader Workstation which you will most likely use, a mobile trading app called IBKR Mobile, and custom trading APIs.
How to open an IBKR account in Singapore?
Step 1
Step 2
Once you're ready to open your Interactive Brokers account, simply scroll up and click on "Apply". You'll be prompted to fill in your personal details to apply for your Interactive Brokers account seamlessly.
Step 3
You'll then be prompted to verify your email address, after which you'll be led to sign in to the IBKR website Client Portal to choose your account type. If you're a Singaporean, you will be able to auto-fill the application via SingPass MyInfo.
Step 4
Then, verify your mobile number (to receive 2FA login codes). You'll then have to declare if you're a retail, accredited, or expert investor, declare your income and net worth, your investment objectives, and choose between a margin or cash account.
Step 5
Next up, the customer knowledge assessment. You'll have to fill up your knowledge and experience with each trading product for approval to trade. As your trading experience grows, you'll be able to add more trading permissions in your account settings.
Step 6
Now that you're done with your application, how to fund your Interactive Brokers account? You'll be receiving Interactive Brokers' custodian bank account information in your email inbox – along with a set of detailed instructions on how to make your first bank transfer, and how to set up subsequent standing orders.
Interactive Brokers Fees
| Trading Product | Commission Fee | Conditions |
|---|---|---|
| Trading ProductStocks, ETFs, Warrants | Commission FeeFrom US$0.0005 per share | ConditionsMinimum US$0.35 per order with <300,00 share trades per month |
| Trading ProductOptions | Commission FeeUS$0.35 - US$0.65 per contract | ConditionsMinimum US$0.35 per order if you trade > 200,00 contracts per month |
| Trading ProductFutures, FOPs | Commission FeeUS$0.10 - US$0.25 per contract | ConditionsMinimum US$0.10 per contract if you trade > 5,000 contracts per month |
| Trading ProductMetals | Commission Fee1.5 basis points of your trade value (US Spot Gold for example) | ConditionsIf your order is below US$500,000 |
| Trading ProductMutual Funds | Commission FeeEither free or €4.95 (for non-US residents) | ConditionsInclusive of regulatory and exchange fees |
| Trading ProductSpot Currencies | Commission Fee0.20 basis point of your trade value | ConditionsIf you trade <=US$1 million per month |
| Trading ProductSingle Stock Futures (SSFs) | Commission Fee1 basis point (SGX SSFs, for example) | Conditions- |
Interactive Brokers Trading Platform
Trader Workstation (TWS)
Interactive Brokers' flagship desktop trading platform is called the Trader Workstation (TWS) which you can download from their website. The user interface is more suitable for seasoned traders who already have a good grasp on the complex workings of a trading platform.
IBot
If you're a trading beginner, you might find Interactive Brokers' IBot pretty useful – it is basically a natural-language chat bot which answers your questions with relevant trading information. So, all you need to do is to launch a chat, type in your question, and view the answer.
Client Portal
Interactive Brokers' Client Portal is a website-based administrative and trading platform which allows you to conveniently access your account and trading information anywhere – so long as you have access to the internet.
Comparing IBKR Lite vs IBKR Pro Account Types
| Account Features | IBKR Lite | IBKR Pro |
|---|---|---|
| Account FeaturesCitizenship | IBKR LiteFor US Residents and individuals under the EmployeeTrack programme | IBKR ProFor non-US residents |
| Account FeaturesCommission Fees | IBKR LiteNo commission for US exchange-listed stocks and ETFs | IBKR ProFixed or tiered commission fees |
| Account FeaturesAccount Minimum | IBKR LiteNo account minimum | IBKR ProNo account minimum |
| Account FeaturesInactivity Fee | IBKR LiteNo inactivity fee | IBKR ProIf monthly commissions are less than US$10, you'll be charged an inactivity/ maintenance fee of US$10 (minus your commissions) |
| Account FeaturesIdle Cash Balance | IBKR LiteBenchmark minus 1.5% | IBKR ProBenchmark minus 0.5% |
Wide variety of tools and research resources
IBKR Campus
Interactive Brokers offers an entire online trading news, information, and education programme called the IBKR Campus – made up of 5 programmes listed below. The IBKR Campus aside, there's a Trader's Glossary, Calendar, and Short Videos tutorials available for all.
Trader's Academy
You will find theTrader's Academy on the Interactive Brokers website, and the courses are segmented into 3 levels – beginner, intermediate, and advanced – for you to learn about trading products, how to use the trading tools, risk analysis, trade plans, etc.
Trader's Insight
Interactive Brokers' Trader's Insight is almost like a daily news, expert insight and opinions homepage that you should keep up with to keep your finger on the pulse of global trade and economy news. Here, you'll find articles, market roundups, explanation of key market trends and happenings that are worth your attention.
IBKR Quant Blog
The IBKR Quant Blog involves niche content for quantitative analysts, such as programming, coding, APIs, data engineering and manipulation, excel, alongside relevant market big data news, machine learning algorithms, and more.
Webinars
Interactive Brokers also offer free in-depth webinars exploring topics such as "Bitcoin as an Investment Asset", opportunities in commodities, the future of e-commerce, etc. All webinars are scheduled, so you can mark out specific dates and times for topics you're interested in.
Students Trading Lab
Finally, Interactive Brokers has a free online programme for finance and computer science teachers to tap into – allowing students to experience real-world trading via individual paper trading accounts.
Trader's Glossary & Calendar
What is a floating rate? What are open contracts? What is T+3? Yield-to-Call? If these terms are new to you, or if you are a seasoned trader who just needs to verify the official meaning of these terms, visit the free Interactive Brokers Traders' Glossary on their official website.
Comparison of IBKR vs Saxo vs TD Ameritrade
| Interactive Brokers | Saxo | TD Ameritrade |
|---|---|---|
| Interactive BrokersBrokerage founded in 1978 in New York City | SaxoFounded by the Copenhagen-based Saxo Bank | TD AmeritradeFounded in 1971, then known as Ameritrade. Later acquired by TD Waterhouse in 2006, and Charles Schwab Corporation in 2020 |
| Interactive BrokersIf monthly commissions are less than US$10, you'll be charged an inactivity/ maintenance fee of US$10 (minus your commissions) | SaxoUS$0 Inactivity fee | TD AmeritradeUS$0 Inactivity fee |
| Interactive BrokersYou'll get to choose between fixed or tiered fees, such as US$0.0035 per stock, ETF, warrant; US$0.25 per options contract; US$0.85 per futures/ futures options contract etc. | Saxo0.08% commission for SGX stocks; 0.06% for US stocks; 0.6 pips for FX EUR/USD; US$3 for US stock CFDs; US$3 on US-listed ETFs; 0.05% on US government bonds etc. | TD Ameritrade$0 no commission fee for online stock, ETFs, options (US markets); US$0.70 per options contract; US$2.41 per futures/ futures options contract; US$7.44 for OTC online stocks |
| Interactive BrokersTrading Platform – Trader Workstation | SaxoSaxoInvestor, SaxoTraderGO, Saxo TraderPro | TD Ameritradethinkorswim website, dekstop, and mobile |
| Interactive BrokersEducation – Interactive Brokers offers a full fledge IBKR Campus online with materials for both beginners, intermediate, and advanced traders | SaxoSaxo offers trading courses, video tutorials, Saxo Insights, and Saxo Market Call podcasts | TD AmeritradeTD Ameritrade provides access to market news and insights on the thinkorswim platforms. If you're just learning to trade, there's a 5-week introduction to trading course online |
Interactive Brokers Minimum Deposit
How To Deposit Money Into Interactive Brokers Account
Interactive Brokers Singapore Contact
Customer Service Hotline
If you're looking to contact the customer service centre, you can call the Interactive Brokers Singapore contact hotline at 800-101-3456 (toll free).
Summary of Interactive Brokers
Frequently Asked Questions
Is it safe to use Interactive Brokers?
- Yes, it is safe to use Interactive Brokers. Interactive Brokers (IBKR) is a multinational brokerage founded in New York City in 1978. Today, IBKR operates worldwide in 33 countries, including Singapore where all brokerages like IBKR are regulated by the Monetary Authority of Singapore (MAS).
How is Interactive Brokers fees so cheap?
- Interactive Brokers is able to offer lower commission fees because they shave off free features such as customer support, and charge users for advanced features such as level 2 market data. Also, IBKR charges users for inactivity fees if you don't accumulate the required US$10 commission fees from your trades per month.
Can I buy Bitcoin on Interactive Brokers?
- Yes, you can access cryptocurrency products such as Bitcoin on Interactive Brokers. You will be able to find a list of the ticker symbols on the Interactive Brokers website, e.g. BITCOINXB (SFB) for Bitcoin Tracker One, and use that to search for your choice of coin on the trading platform.
Who is eligible for IBKR Lite?
- You will be eligible for an IBKR Lite account if you are a US-based user, or if you have a referral from an Introducing Broker.
How do I use margin on Interactive Brokers?
- Before you start trading on margin, know that this could incur hefty losses and should only be used by very seasoned traders. To use maring on Interactive Brokers, you should first create a margin account instead of a cash account.
How do I change my account to an IBKR Lite account?
- To change your account type, open your trading platform and go to "Settings", followed by "Account Settings". You will then be able to select another account type and submit that request for approval.
How much money do I need to open an Interactive Brokers account?
- There is no minimum deposit to open an Interactive Brokers account in Singapore.
What is paper trading in Interactive Brokers?
- Paper trading basically refers to a free demo account where you're granted a "fake" US$1 million in your funds to paper trade based on real-time market circumstances.
How do I withdraw funds from my IBKR account?
- To withdraw your funds from your Interactive Brokers account, you will have to access the Client Portal website, followed by the "Transfer Funds" page, where you will be able to make a withdrawal request.