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Looking to invest in stocks in Singapore? Can't decide between a cash account or margin account, a commission-free account or a no platform fee account? Whether you are a beginner learning to invest or a seasoned expert in trading, we’ve compiled the best online brokerages available in Singapore for you.
Moomoo is an online trading platform by the Tencent-backed Chinese parent company, Futu, that allows you to trade on SG, HK, and US markets.
If you're a smaller investor, consider taking advantage of Moomoo's sign up promo – open an account, deposit S$2,700 to receive a free AAPL share.
You'll have access to trade blue-chip stocks such as Tencent, Apple, and Facebook across US, HK, and SG markets, ADRs, Exchange Traded Fund (ETFs) and REITs.
You'll get to enjoy unlimited commission free stock trading for US, HK, and SG markets with no custodian fee for 180 days upon sign up – the duration can be extended if you refer friends to trade with Moomoo. Otherwise, commissions are at US$0.0049 per share (with a minimum of US$0.99 per order of US stocks and ETFs), and US$0.0049 per share (with a minimum of US$0.99 per order of US ADRs).
Since its launch in Singapore on the 22 March 2021, Moomoo has been offering attractive sign-up promotion bundles which are still ongoing today. Upon sign up and deposit of at least S$2,700 (there's no minimum deposit for normal sign ups), you will receive 1 free AAPL share, up to 20 free TWTR shares, 180 days of unlimited commission-free trades, free Level 2 market data (US stocks), and free SGX Securities Level 1 real-time market data.
Whether you're trading on Moomoo's desktop or mobile apps, you'll have access to an AI-powered market monitor to view changes in volatile stocks, advanced charts with 62 technical indicators and 22 drawing tools to support your investment strategy, custom alerts based on the price and indicator movements that you are following, a Stock Academy with beginner guides, and technical and fundamental analysis guides.
Moomoo is offering a commission-free trade promotion for 180 days upon sign up. Otherwise, usual commission fees are at US$0.0049 per share (with a minimum of US$0.99 per order of US stocks and ETFs), and US$0.0049 per share (with a minimum of US$0.99 per order of US ADRs).
Moomoo (or FUTU SG) does not charge any withdrawal fees. If you would like to make a cash withdrawal from your account, simply login to your trading app, click on "Brokerage Account", select which currency account you're withdrawing from, scroll down, and click on the "Withdraw" option.
Moomoo charges platform fees, namely HK$15 per order for HK trades, US$0.005 per share (with a minimum of US$1 per order) for US stocks and ETFs, and 0.03% of trade value (with a minimum of SG$1.50 per order) for SG stocks.
Investing during a recession can be an opportunity to buy low prices and sell stocks at profit in the future.
| Providers | Comparison | |
|---|---|---|
| Moomoo | Moomoo allows you to access US, HK, SG markets and enjoy unlimited commission-free trades for 180 days after you sign up – after which, commission fees such as US$0.0049 per share (with a minimum of US$0.99 per order of US stocks and ETFs) will come into play. Moomoo is also known for the free 1 AAPL share that you receive upon deposit (of at least S$2,700). | |
| Tiger Trade | Tiger Trade by Tiger Brokers doesn't charge any miscellaneous fees such as custody, deposit, withdrawal, currency exchange fees, and inactivity fees – which is great if you are not the best at tracking the endless list of fees. However, you will have to pay commission fees per trade. | |
| Saxo | At Saxo, you'll have access to a variety of trading products such as stocks, ETFs, bonds, commodities, options, futures, funds, FX and CFDs. However, there are commission fees at 0.08% for SGX stocks etc. The entry-level Classic account comes with S$3,000 minimum funding. |
For fast application, you can simply scroll up to the top of this page and click on "Apply Now". You will be immediately led to the Moomoo Singapore's online application process.
If you visit the Moomoo website click on the Downloads option on the top menu bar. Scroll down, and choose your trading platform app of choice – Windows desktop, Mac desktop, iPhone, or Android Google Play store. Click to initiate download.
Once you have downloaded the app or installer package, go to your mobile's home screen, or your desktop's drive and open the Moomoo app on your device.
You will then be prompted to login to your Moomoo account, or sign up for an account with your email. Once that's done, you are now in your Moomoo account and will see the trading app automatically launch. You won't be prompted to verify your email at this juncture.
On the top left hand corner, click on your trading account ID to launch a personal details menu. Click on the option to "Verify" your phone number". A new FUTU webpage will pop up, prompting you to key in your phone number and verification code.
To deposit funds to your Moomoo account, find the blue "Deposit" icon on the left hand side of the app. You will be prompted to create a FUTU SG account before you can deposit funds.
If you're opening your Moomoo trading account, do note that Moomoo doesn't require any minimum deposit. However, you can get a free AAPL share and other perks if you deposit at least S$2,700. You will not be charged any Moomoo deposit fees.
If you've decided to close your Moomoo trading account, do close all your positions and withdraw all your funds before you do so. Moomoo does not charge withdrawal fees. To close your Moomoo account, you will need to visit the Moomoo website, click on "Help Centre" and submit an email request to close your account.
