Brokerage firm details in Singapore

I have compiled a list of brokerage firms in Singapore that focus on either Singapore Stock Market or US Stock Market. And along in the details are the brokerage charges for trading with them. Please note that opening an account with them is free. However for foreign broker firm, you would need to make a deposit before you can begin to trade. The trading limit is the amount of funds that you have transfered to your account. However, for local brokerage firm, the deposit can usually be waive by simply speaking to the staff.

The local brokerage firm provides foreign market trading as well, however, the brokerage fees would be higher as they are require to go through a middleman from the country that you are trading in order to facilitate your trade. Depending upon your strategy, you might wish to open up multiple account so that you can enjoy the best rates of trading in US and Singapore market.

Singapore Market Trading:

Phillip Securities

• Brokerage Fees: 0.28%/ Min SGD$25
• Website address: www.poems.com.sg

Lim & Tan

• Brokerage Fees: 0.28%/ Min SGD$25
• Website address: www.limtan.com.sg

OCBC Securities

• Brokerage Fees: 0.275%/ Min SGD$25
• Website address: www.iocbc.com

DBS Vickers

• Brokerage Fees: 0.28%/ Min SGD$25
• Website address: www.dbsvickers.com

Kim Eng

• Brokerage Fees: 0.275%/ Min SGD$25
• Website address: www.ketrade.com.sg

UOB Kay Hian

• Brokerage Fees: 0.275%/ Min SGD$25
• Website address: www.uobkayhian.com.sg

US market trading:

Optionxpress

• Brokerage Fees: USD$16.95 or USD$0.0175 per share, whichever is higher
• Website address: www.optionxpress.com.sg

eTrade

• Brokerage Fees: USD$19.99
• Website address: www.etrade.com.sg

There are more brokerage firms out there but these are the more common ones that I am aware about. Different brokerage firms strength lies in different aspect. Some are strong in their trading platform, whereas some are cheap on the brokerage cost. Based on my personal opinion, i prefer to work with a local broker because of the personalise service provided. The higher commission paid is justifiable in my personal context. My broker from OCBC is able to perform on my behalf, to watch and screen the market sentiment. To me, this is an invaluable source of info which can help me to make money. However, not all dealers and remisers for local brokerage firms are able to provide such service as it is highly dependent upon your relationship with them in order for them to provide such personalise service to you. Feel free to let me know if you need a broker, i can recommend my broker from OCBC to you. His service has not disappoint me to far.

As i am typing out this blog, the Singapore market is getting into position to resume rallying. Do hope that you are among the fortunate to be able to ride on this bull rally and profit from it.