Best Brokerage in Singapore for Beginners: 2026 Complete Guide
The best brokerage in Singapore for most beginners in 2026 is IBKR (Interactive Brokers) for global ETF investors or moomoo for those starting with SGX stocks. Both offer low minimum commissions — IBKR from S$2.50 per SGX trade, moomoo from S$0.99 — no account maintenance fees, and access to global markets. Your choice depends on what you plan to buy, your portfolio size, and how often you trade.
Not financial advice. All figures are for educational reference only. Data verified as at September 2026.
- For global ETFs (CSPX, VWRA on the London Stock Exchange): IBKR is the cheapest option with access to 150+ exchanges.
- For SGX stocks and local ETFs: moomoo charges S$0.99 minimum — the lowest in Singapore as at September 2026.
- DBS Vickers and OCBC Securities charge S$25 minimum per SGX trade — 25x more than moomoo for small orders.
- None of these brokers charges capital gains tax — Singapore doesn’t have one. You keep 100% of your profits.
Why Your Brokerage Choice Matters More Than You Think
Most beginners spend hours picking their first stock — and five minutes choosing their broker. That’s the wrong order. A bad brokerage costs you more money, every single year.
Here’s a simple example. You invest S$500 per month into SGX ETFs — 12 trades a year. At DBS Vickers, you pay S$25 minimum per trade: that’s S$300 a year in commissions alone. At moomoo, the same 12 trades cost S$11.88. Over 10 years, that S$288 annual difference — compounded — adds up to over S$4,000 in lost portfolio growth.
Your broker also determines which markets you can access. If you want to buy CSPX or VWRA — two of the most popular ETFs among Singapore investors — you need a broker with access to the London Stock Exchange (LSE).
CDP vs Custodian Accounts: What’s the Difference?
Before comparing brokers, you need to understand how your shares are held — because this is where brokers differ fundamentally.
CDP-linked accounts hold your SGX shares directly in your name at the Central Depository (CDP). Even if your broker goes under, your shares are safe — they’re registered under your Singapore IC number. Banks like DBS Vickers and UOB Kay Hian offer CDP-linked accounts.
Custodian accounts hold your shares in the broker’s name on your behalf. moomoo, Tiger Brokers, and IBKR use this model. Your shares are protected by MAS rules (client asset segregation), but they’re not individually registered under your name at CDP.
| Feature | CDP-Linked | Custodian |
|---|---|---|
| Shares held under | Your name (CDP) | Broker’s name |
| Typical fees (SGX) | Higher (S$10–S$25 min) | Lower (S$0.99–S$2.50 min) |
| International markets | Limited | Extensive |
| Examples | DBS Vickers, UOB Kay Hian | IBKR, moomoo, Tiger |
Source: SGX CDP documentation, MAS Guidelines — September 2026
Singapore Brokers Compared: Fees, Features & Best For
| Broker | SGX Min Fee | US Stocks | CDP? | Best For |
|---|---|---|---|---|
| IBKR | S$2.50 (0.08%) | USD 0.005/share (min USD 1) | No | Global ETFs, LSE access |
| moomoo | S$0.99 (promos: S$0) | USD 0.0049/share | No | Beginners, SGX stocks |
| Tiger Brokers | S$1.99 (0.06% total) | USD 0.005/share (min USD 0.99) | No | Mobile-first investors |
| DBS Vickers | S$25 (0.18% online) | USD 25 min | Yes | DBS customers (large trades) |
| Saxo | S$5 (0.08%) | USD 1 min | No | Professional/active traders |
Source: Official broker pricing pages — September 2026. Verify before opening an account.
Chart: Minimum SGX commission per trade, Singapore brokers, September 2026.
1. IBKR (Interactive Brokers) — Best for Global ETF Investors
IBKR is the go-to broker for Singapore investors who want to buy global ETFs on the London Stock Exchange — particularly CSPX (iShares S&P 500 UCITS ETF) and VWRA (Vanguard FTSE All-World UCITS ETF). These UCITS-structured ETFs have no US estate tax risk and zero dividend withholding tax for Singapore investors.
SGX stocks: 0.08% commission, minimum S$2.50 per trade. For LSE-listed ETFs, IBKR charges similarly low rates.
FX fees: IBKR’s FX conversion is 0.002% — one of the cheapest in the market. For Singapore investors converting SGD to USD or GBP, this matters a lot.
Account minimum: No minimum deposit. No monthly maintenance fee for accounts under USD 100k (as at September 2026).
Use our IBKR referral code jianxiong368 for up to S$1,000 in IBKR stock.
2. moomoo — Best Low-Cost Broker for Beginners
moomoo (operated by Futu Singapore) is the most popular broker among Singapore beginners in 2026, primarily because of its S$0.99 minimum commission for SGX trades and frequent zero-commission promotions. Its mobile app is clean, fast, and packed with real-time data including free US Level 2 order book data.
SGX stocks: S$0.99 minimum, 0.03% commission rate. During promotional periods (which have been running consistently through 2026), SGX trades may be completely free.
Watch out for: FX conversion fees when buying US or HK stocks. moomoo’s FX spread can be wider than IBKR’s for long-term ETF investing. Learn more about moomoo’s trading fees in our detailed ETF guide.
3. Tiger Brokers — Best for Mobile-First Trading
Tiger Brokers offers a competitive SGX fee structure: 0.03% commission + 0.03% platform fee = 0.06% total, with a minimum of S$1.99 per trade. Tiger has strong US stock coverage including fractional shares on selected counters, and Tiger Cash Boost offers competitive cash interest rates for idle cash between trades.
4. DBS Vickers — Best for Existing DBS Customers with Large Portfolios
DBS Vickers is Singapore’s largest traditional broker but its fee structure makes it uneconomical for orders below S$13,900 (where the S$25 minimum kicks in). Its key advantage: CDP-linked shares registered directly in your name. If you’re investing in S-REITs for long-term dividend income and place fewer, larger trades, DBS Vickers is defensible.
How to Choose the Right Brokerage in Singapore
For global ETFs (CSPX, VWRA, IWDA) on the London Stock Exchange → Choose IBKR. Cheapest LSE access and best FX rates.
For beginners investing in SGX stocks or local ETFs → Start with moomoo. Low minimum, free real-time data, easy onboarding.
For mobile-first experience with cash management features → Tiger Brokers is worth considering.
Already a DBS customer with large lump sums (>S$50,000 per trade) → DBS Vickers is acceptable but still more expensive than digital brokers.
Can you use two brokers? Yes. Many Singapore investors use IBKR for LSE ETF purchases (monthly DCA) and moomoo for SGX stock trades.
To calculate your exact fee at different trade sizes, use our Brokerage Fee Calculator for Singapore. Whichever broker you choose, the most important thing is to start — check out our complete guide on how to start investing in Singapore.
For referral bonuses when opening accounts:
- IBKR: IBKR referral code jianxiong368 — up to S$1,000 in IBKR stock
- Syfe: Syfe referral code SRPRFFFCD — up to S$30,000 managed free for 6 months
- Endowus: Endowus referral code 2V343 — S$20 in fee credits
- FSMOne: FSMOne referral code P0544985
Singapore Capital Gains Tax: Why It Matters
Singapore has no capital gains tax. When you sell your shares at a profit, you keep 100% of the gain — regardless of which broker you use. However, dividend withholding tax is different. US stocks pay dividends subject to 30% withholding tax at source. UCITS ETFs listed on the LSE (like CSPX and VWRA) avoid this using the accumulating structure — dividends are automatically reinvested inside the fund. This is the biggest reason Singapore investors prefer LSE-listed UCITS ETFs over US-domiciled ETFs like VOO. Learn more about building passive income in Singapore or consider Singapore Savings Bonds as a lower-risk alternative.
Chart: Estimated annual brokerage cost (12 SGX trades/year) at S$10k, S$50k, S$100k portfolio sizes — September 2026.
Frequently Asked Questions: Best Brokerage Singapore
Which is the cheapest brokerage in Singapore for SGX stocks?
As at September 2026, moomoo offers the lowest minimum commission for SGX stocks at S$0.99 per trade (often S$0 during promotions). Tiger Brokers is second at S$1.99 minimum. IBKR charges S$2.50 minimum. Traditional banks like DBS Vickers (S$25) and OCBC Securities (S$25) are significantly more expensive for small orders.
Is IBKR better than moomoo for Singapore investors?
It depends on what you buy. IBKR is better for global ETFs on the London Stock Exchange (CSPX, VWRA, IWDA) because it offers the cheapest FX conversion rates and direct LSE access. moomoo is better for SGX stocks because its minimum commission (S$0.99) is lower than IBKR’s (S$2.50). Many Singapore investors use both.
Do I need a CDP account to use moomoo or IBKR in Singapore?
No. Both moomoo and IBKR use the custodian model — they hold your shares on your behalf, not under your name at CDP. You don’t need a separate CDP account. However, if you want your SGX shares directly registered in your name, you’ll need a CDP-linked broker like DBS Vickers or UOB Kay Hian.
Is there capital gains tax on stocks in Singapore?
No. Singapore does not impose capital gains tax on individuals. All profits from selling shares, ETFs, or REITs are tax-free for individual investors. If IRAS determines you are trading as a business (systematic short-term trading as your primary income), gains could be classified as income and taxed. This is rare for long-term investors.
What is the minimum amount to start investing with IBKR in Singapore?
As at September 2026, IBKR has no minimum deposit requirement for Singapore accounts. However, for practical reasons, starting with at least S$500–S$1,000 is sensible. For LSE-listed ETFs like CSPX, one share costs approximately USD 550–600, so factor in FX conversion when planning your first purchase.
Can I use my CPF to invest through moomoo or IBKR?
No. CPF Investment Scheme (CPFIS) does not allow investing through moomoo, IBKR, or Tiger Brokers. CPFIS-approved brokers include DBS Vickers, UOB Kay Hian, OCBC Securities, and Phillip Securities. Read our full CPF investment strategy guide for details.
Is moomoo safe and MAS-regulated in Singapore?
Yes. Moomoo Financial Singapore Pte. Ltd. is licensed by the Monetary Authority of Singapore (MAS) as a Capital Markets Services licensee. Client assets are segregated from company assets per MAS requirements. Moomoo is a subsidiary of Futu Holdings, a NASDAQ-listed company.
This article was researched with the help of AI. While we strive to keep all information accurate and up to date, there may be errors. If you notice any discrepancies, please contact us.
