We need a stock brokerage account to start investing in stocks, ETFs, REITs and even options. This enables us to buy listed securities, not just on the Singapore Exchange (SGX) but other global stock exchanges – mainly, the US and Hong Kong stock markets.
As there are many stock brokerages we can use, one of the major factors many of us compare is the commission fees that they charge.
Read Also: Step-By-Step Guide To Opening A Stock Brokerage Account In Singapore
Types Of Fees When Investing In SGX-Listed Stocks
For those investing in SGX-listed counters, there are typically four main types of fees and GST that we have to pay:
| No. | Types Of Fees | Fees | Charged By |
| 1 | CDP Clearing Fee | 0.0325% of your contract value | Central Depository (CDP) |
| 2 | SGX Trading Fee | 0.0075% of your contract value | Singapore Exchange (SGX) |
| 3 | SGX Settlement Fee | $0.35 or equivalent in foreign currency per contract | Singapore Exchange (SGX) |
| 4 | Brokerage Commission Fee (and other fees) | Differing | Stock Brokerages |
| 5 | GST | 9% on the relevant charges | Singapore Government |
Brokerage commission, platform fees and custody charges can vary between providers. Exchange fees and GST may also apply, including when a broker offers commission-free trades.
If we buy stocks listed on overseas exchanges, we may incur different fees associated with our trades.
Read Also: Buying US Stocks In Singapore: Guide To Stock Trading Platforms And Brokerage Fees (2025)
Stock Brokerage Account Commission Fees Comparison
In Singapore, there are many online stock brokerage accounts that we can use. With all of them vying for our business, brokerage commission fees that they charge can be highly competitive. Brokerages may charge a percentage commission or a flat fee, with minimum charges and platform fees varying by account. Commission fees for offline trades (if we make trades by calling our brokers) are usually higher than online trades. For many online brokerages, there may not even be an offline trading option.
Here is the list of major stock brokerages in Singapore, and the commission fees that they charge.
| Brokerages | Account Type | Trading Fees | Minimum Brokerage Charges |
| CGS International Securities (iTrade) | Cash Account | Up to $50,000: 0.275% Above $50,000-$100,000: 0.22% Above $100,000: 0.18% | $25 |
| Cash (CDP sub-account)* | 0.18% | $18 | |
| Pre-funded (CUT)* | 0.18% | No min. | |
| Broker-assisted (offline) | Up to $50,000: 0.50% Above $50,000-$100,000: 0.40% Above $100,000: 0.25% | $40 | |
| Citibank Brokerage * | Pre-funded | Below $50,000: 0.25% $50,000–$100,000: 0.20% Above $100,000: 0.18% | $28 |
| Broker-assisted (offline) | Up to $50,000: 0.50% Above $50,000-$100,000: 0.50% Above $100,000: 0.40% | $50 | |
| CMC Invest * | Pre-funded | 0.04% | $2 |
| DBS Vickers * | Cash Account | 0.18% | $27.25 (includes GST) |
| Pre-funded | 0.12% (buy trades only) | $10.90 (includes GST) | |
| Broker-assisted (offline) | Up to $50,000: 0.375% Above $50,000-$100,000: 0.30% Above $100,000: 0.225% | $43.60 (includes GST) | |
| FSM Global (formerly FSMOne) * | Pre-funded | Flat $8.80 for stocks Flat $3.80 for ETFs | No min. |
| HSBC | Pre-funded | 0.15% | No min. |
| Broker-assisted (offline) | Up to 0.40% | No min. | |
| Interactive Brokers (IBKR) | Pre-funded (fixed pricing) | 0.08% | $2.50 |
| KGI Securities | Cash Account | Below $50,000: 0.275% $50,000-$100,000: 0.22% Above $100,000: 0.18% | $25 |
| Pre-funded | 0.18% | $25 | |
| Broker-assisted (offline) | Below $50,000: 0.50% $50,000-$100,000: 0.40% Above $100,000: 0.25% | $40 | |
| LIM & TAN Securities * | Cash Account | Below $50,000: 0.28% $50,000-$100,000: 0.22% Above $100,000: 0.18% | $25 |
| Pre-funded | 0.12% | $15 | |
| Broker-assisted (offline) | Below $50,000: 0.50% $50,000-$100,000: 0.40% Above $100,000: 0.25% | $40 | |
| Longbridge* | Pre-funded | Platform fee: 0.03% (min. $0.99) | $0 commission; $0.99 minimum platform fee |
| Maybank Securities | Cash Account | Below $50,000: 0.275% $50,000-$100,000: 0.22% Above $100,000: 0.18% | $25 |
| Pre-funded | 0.12% | No min. | |
| Broker-assisted (offline) | Below $50,000: 0.50% $50,000-$100,000: 0.40% Above $100,000: 0.25% | $40 | |
| moomoo | Pre-funded | Commission: + Platform fee: 0.03% (min. $0.99) | $1.98 combined (standard rate) |
| OCBC Securities | Cash Account | Below $50,000: 0.275% $50,000-$100,000: 0.22% Above $100,000: 0.18% | No min. (online) |
| Broker-assisted (offline) | Below $50,000: 0.50% $50,000-$100,000: 0.40% Above $100,000: 0.25% | $40 | |
| Phillip Securities (POEMS) | Cash Account / Cash Management | Up to $3,500: Flat $10 Above $3,500–$50,000: 0.28% $50,000-$100,000: 0.22% Above $100,000: 0.18% | $10 for contracts up to $3,500; otherwise $25 |
| Pre-funded* | Below $30,000 (Cash Plus Starter): 0.08% $30,000-$249,999:(Premier) 0.07% $250,000 and above (Privilege): 0.06% | No min. | |
| Broker-assisted (offline) | Below $50,000: 0.50% $50,000-$100,000: 0.40% Above $100,000: 0.25% | $40 | |
| Saxo Markets * | Pre-funded | Classic – 0.08% Platinum – 0.05% VIP – 0.03% | $3 |
| Standard Chartered | Pre-funded | 0.20% [Personal banking clients] | $10 |
| 0.18% [Priority banking clients] | No min | ||
| Syfe Brokerage* | Pre-funded | 0.04%–0.06%, depending on tier | $1.98 |
| Tiger Brokers | Pre-funded | Commission: 0.03% (min. $0.99) + Platform fee: 0.03% (min. $1.00) | $1.99 combined |
| UOB Kay Hian | Cash Account | Below $50,000: 0.275% $50,000-$100,000: 0.22% Above $100,000: 0.20% | $25 |
| Pre-funded | 0.12% | $10 | |
| uSMART | Pre-funded | Trader: 0.02% commission + 0.03% platform fee Standard: 0.03% + 0.03% Intel: 0.05% + 0.05% | No min |
| Webull | Pre-funded | Commission: 0.025% (min. $0.80) + Platform fee: 0.025% (min. $0.80) | $1.60 |
* Some things to note about the individual accounts:
– CGS International charges a $20 administrative fee per calendar quarter for its CDP sub-account, subject to GST. Additional CDP maintenance charges apply according to its fee schedule.
– Citi’s rates shown above are for ordinary Citibanking clients. Its custody fee for these clients is 0.0165% of the monthly average stockholding balance, charged monthly and collected every six months, inclusive of GST. Privileged-client rates and waivers differ and should be confirmed with Citi.
– CMC Invest’s Invest tier offers five commission-free Singapore trades per month. After these, commission is 0.04%, minimum $2. Exchange fees and applicable GST remain payable.
– DBS Vickers Cash Upfront rates apply to buy trades only. Its $2-per-counter monthly custody charge, capped at $150 per quarter, applies to foreign-market custody holdings rather than Singapore shares held directly in your CDP account. The stated waiver requires two transactions per month or six per quarter.
– Lim & Tan’s CCT rates shown above are standard rates, excluding promotions and rewards discounts. Its FAQ states there is no charge for maintaining the SGX sub-account.
– Longbridge offers lifetime $0 commission. Its standard platform fee of 0.03%, minimum $0.99 per order, applies to Singapore stocks. Other exchange fees and applicable GST are payable in addition to Longbridge‘s platform fee.
– Phillip Securities (POEMS) has three Cash Plus tiers — Starter, Premier and Privilege — based on total asset value. Its Cash Management account has a separate commission schedule, including the $10 rate for online contracts of $3,500 or less.
– Saxo has Classic, Platinum and VIP pricing tiers. Singapore residents and Singapore-incorporated entities are not charged custody fees for SGX stocks and ETFs. Securities-lending conditions for custody fees on other holdings are separate.
– Phillip Securities charges a lower-tier commission based on the total asset value we have in our account ($0-$29,999: 0.08%; $30,000-$249,999: 0.07%; and $250,000 and above: 0.06%)
– Webull offers new clients one year of commission-free Singapore share trading. Platform fees remain payable. Standard commission after the waiver is 0.025%, minimum $0.80, in addition to the same platform fee. Its schedule also lists two settlement-instruction charges of $0.35 each per trade.
– Syfe Brokerage charges 0.04%–0.06%, depending on tier, with a $1.98 minimum for Singapore trades. Monthly free trades do not apply to the Singapore market.
Read Also: Buying US Stocks In Singapore: Guide To Stock Trading Platforms And Brokerage Fees (2025)
Pre-Funded Accounts
Many online brokerages have entered the Singapore market, offering primarily pre-funded-only stock brokerage services. Pre-funded accounts, also commonly termed cash collateralised accounts or cash upfront trading (CUT) accounts, require you to pre-pay for your investments in order to enjoy a lower commission fee.
As you can see in the table above, majority of the pre-funded accounts charge a lower brokerage trading fee as well as a lower minimum trading fee. You also have to note that majority of the pre-funded accounts will credit your stock holdings with their custodians rather than your own CDP account. This means potentially having to fork out a custodian fee as well as locking your trades with the stock brokerage firm.
CDP-Linked Accounts VS Custodian Accounts
Another consideration when investing in stocks is where they will ultimately be held – in your CDP account or a custodian account.
To trade Singapore shares through a CDP-linked brokerage account, you need to open a CDP account as well. Many of you may overlook this account as you’re only dealing with your brokerage firms.
What actually happens when you buy and sell shares is that they are either kept in your CDP account or custodian account. The SGX manages investors’ CDP accounts, while individual stock brokerages manage their custodian accounts. When investing via pre-funded accounts, for its lower brokerage fee, your stocks will typically be kept in a custodian account. When investing in overseas-listed stocks, your holdings will also be kept in a custodian account.
You can have one individual CDP securities account, alongside custodian accounts with different brokerage houses.
Read Also: Custodian Account – What You Are Giving Up In Exchange For Lower Commission Charges
Stock brokerage accounts that credit your investments into your CDP accounts generally charge higher commission fees. Custodian accounts are able to offer a more cost-effective solution because of the following reasons:
– You can sell the investments in your custodian account with the same broker. This means you are obliged to be loyal to them, unless you pay a fee to transfer your shares out of the custodian account.
– You are more likely to continue future investments with the existing stock brokerage firm, especially if majority of your investments are in a custodian account managed by them. This way, you can also monitor your investments more conveniently, in one account. You may also be kept within the ecosystem, investing in other products.
– As your shares are held with the stock brokerage firm, they will have to handle transactions on your behalf. They may potentially earn additional fees from these transactions, if they happen, in the future.
This is why it’s important to understand the difference between the two accounts, and ensure to check if your stock investments with the brokerage account would be held in a custodian account or your own CDP account.
Choosing A Stock Brokerage House To Make Your Investments
Very often, new investors choose their stock brokerage accounts based on recommendations made by peers or their parents, or end up choosing the brokerage arm of the bank they already have an existing financial relationship with.
The “best” brokerage account doesn’t just offer the cheapest commission fees. Beyond just the commission fees that the stock brokerage firm charge, you should look at factors that provide added convenience and value to your investing journey.
These could include:
Access to overseas markets: Does your stock brokerage account give you access to major overseas markets that you wish to invest in?
Web/mobile layout: How user-friendly is the web or mobile app?
Charts provided: Are the charting tools comprehensive/ useful?
Technical Indicators: Does it have all the tools you require?
Broker assigned: Do you prefer having a dedicated broker that gives you timely market updates?
Speed of live information: Delays with information provided make a big difference especially when it comes to trading.
Investor education: Does your brokerage house provide educational materials, or seminars for its clients?
Access to analyst reports: Does the brokerage firm have a strong research team that will provide you high quality research reports on listed companies?
Finally, there are no limitations to setting up stock brokerage accounts with different brokerage houses. You should test-drive several stock brokerage accounts before settling on one that you intend to use as your primary account.
