SGX Brokerage Fee Calculator Singapore 2026

Compare trading costs across Tiger Brokers, moomoo, DBS Vickers, FSMOne and more — free calculator with real-time results in SGD.

Understanding SGX Brokerage Fees for Singapore Investors

Every time you buy or sell a stock, ETF, or REIT on the Singapore Exchange (SGX), you pay a set of fees that directly reduce your investment returns. For Singapore retail investors, understanding these costs is essential — especially when MAS-regulated online brokerages now charge as little as 0.03% commission compared to the 0.28% charged by traditional full-service platforms. On a S$10,000 trade, that difference translates to a cost gap of over S$25 per transaction.

SGX brokerage fees in Singapore have two distinct components: the broker’s own commission (which varies widely) and mandatory SGX exchange levies (which are fixed for all brokers). The SGX clearing fee stands at 0.0325% of the contract value (capped at S$600 per order), while the trading access fee adds another 0.0075% (capped at S$150). On top of these, Singapore’s 9% GST applies to both the brokerage commission and the SGX levies. This calculator computes all three layers so you see the true all-in cost before you trade.

Not financial advice. All figures are indicative as at Q3 2026 and may change. Always verify current fee schedules with your broker before executing trades.

How SGX Exchange Levies Work

Unlike brokerage commissions — which differ between platforms — SGX levies are standardised across all brokers. The SGX clearing fee (0.0325%) is charged by CDP (the Central Depository) for settling your trade, while the access fee (0.0075%) covers your right to trade on SGX markets. Together they total 0.04% per transaction, or S$4 for every S$10,000 traded. Both fees are capped: clearing at S$600 per order and access at S$150, meaning very large trades (above ~S$1.85 million) stop incurring additional SGX costs beyond these caps. For typical retail investor trade sizes of S$2,000–S$20,000, the SGX levy alone accounts for roughly S$0.80–S$8.00 per trade.

Why Brokerage Costs Matter for Long-Term Wealth Building

Over a 20-year investment horizon with monthly trades, even a 0.1% difference in commission can compound into tens of thousands of dollars of lost returns. Consider two investors each trading S$5,000 per month: one using a platform charging 0.28% (S$14 + SGX + GST = ~S$17 per trade) versus another using 0.03% commission (S$0.99 minimum + SGX + GST = ~S$4 per trade). That S$13 monthly saving, invested at 7% annual returns, grows to over S$40,000 over 20 years. Choosing the right broker is one of the highest-impact, lowest-effort decisions a Singapore investor can make.

How to Use This SGX Brokerage Fee Calculator

1. Enter your trade amount (SGD): Type in the total contract value of your trade — the number of shares multiplied by the share price. For example, buying 1,000 units of a REIT at S$1.50 per unit = S$1,500.
2. Select Buy or Sell: Toggle between buying and selling. Note that in Singapore, both buy and sell transactions incur the same fee structure — there is no difference in the fee calculation for buy vs sell orders on SGX.
3. Choose your platform: Select the brokerage you use from the dropdown. The calculator will show your fee breakdown and simultaneously rank all eight major platforms by total all-in cost.
4. Read the comparison table: The results panel instantly shows which platform is cheapest for your trade size, and how much you save (or pay extra) compared to your current broker.

The calculator shows commission, SGX clearing + access fees, GST, and total cost — all pre-calculated so you can compare platforms instantly without manual arithmetic.

Pro tip: Use this calculator alongside our Dividend Portfolio Yield Calculator to see how brokerage costs affect your net dividend yield — especially relevant for S-REIT investors who trade frequently.

What Are SGX Brokerage Fees?

SGX brokerage fees are the charges you pay each time you execute a trade on the Singapore Exchange — whether buying shares in a Singapore blue chip like DBS Group, an S-REIT such as CapitaLand Integrated Commercial Trust, or an ETF like the Nikko AM STI ETF. These fees have three components: the broker’s own commission, the SGX exchange levies, and GST.

The broker’s commission is the largest and most variable component. It is typically a percentage of your trade value (ranging from 0.03% to 0.28% depending on your platform) subject to a minimum fee per transaction. This minimum fee matters most for small trades: buying S$500 worth of shares at 0.03% would only generate S$0.15 in commission, but the minimum fee floor of S$0.99 or S$1.98 applies instead. This means the effective rate on very small trades is much higher than the headline percentage suggests.

Importantly, brokerage fees are separate from the bid-ask spread (the difference between the buying and selling price of a stock) and from fund management fees charged by ETFs or unit trusts. A complete picture of your trading cost includes all three. For a S$5,000 trade using a low-cost online broker, the all-in transaction cost typically runs between S$3–S$8 — substantially lower than the S$20–S$30 that was common with traditional bank brokers a decade ago. The rise of digital brokerages has dramatically reduced the cost of investing for everyday Singaporeans.

How SGX Fee Structure Works: Commission + Levy + GST

To calculate your total SGX trading cost, you need to add three layers:

Layer 1 — Brokerage Commission: Your broker charges a percentage of your contract value, subject to a minimum. Formula: Commission = MAX(Trade Amount × Rate, Minimum Fee). For example, a S$3,000 trade with Tiger Brokers (0.06%, min S$1.98) generates commission of MAX(S$1.80, S$1.98) = S$1.98.

Layer 2 — SGX Exchange Levies: All brokers charge identical SGX fees on top of their commission. The clearing fee is 0.0325% of contract value (capped at S$600 per order), and the trading access fee is 0.0075% (capped at S$150). Together: SGX Levy = MIN(Trade × 0.000325, 600) + MIN(Trade × 0.000075, 150). On a S$5,000 trade: S$1.625 + S$0.375 = S$2.00 in SGX levies.

Layer 3 — GST at 9%: Singapore’s Goods and Services Tax applies to both the brokerage commission and the SGX levies. Formula: GST = (Commission + SGX Levy) × 0.09. On our S$5,000 Tiger Brokers example: (S$1.98 + S$2.00) × 0.09 = S$0.36 in GST.

Total All-In Cost: S$1.98 + S$2.00 + S$0.36 = S$4.34, or 0.087% of the trade. Compare this to the same trade with POEMS (0.28% commission): commission = S$14.00, SGX levy = S$2.00, GST = S$1.44, total = S$17.44 — over 4× more expensive for identical market access.

*All-in figures include SGX clearing fee, access fee, and 9% GST. As at Q3 2026 — verify with each broker.

Online Brokers vs Traditional Bank Brokers in Singapore

Singapore’s brokerage landscape has bifurcated into two distinct camps: digital-first platforms and traditional bank-linked brokers. Understanding the trade-offs helps you match your investing style to the right platform.

Digital brokers (Tiger Brokers, moomoo, IBKR) offer low commission rates, often 0.03%–0.06%, with minimal-to-no minimum fees per trade. They excel at cost efficiency but typically offer fewer CDP-linked services — your shares are held in a custodian account rather than your own CDP account, which means you may not automatically receive rights issues, bonus shares, or direct annual report mailings. However, for most buy-and-hold investors accumulating SGX stocks and S-REITs, custodian holdings work perfectly fine.

Traditional bank brokers (DBS Vickers, OCBC Securities, POEMS, Standard Chartered Online Trading) charge higher commissions (0.12%–0.28%) but deposit shares directly into your CDP account. This matters if you want to vote at AGMs, receive physical scrip dividends, or hold shares in your own name. Some investors also prefer the perceived security of a bank-backed platform. The cost premium can be significant: over 20 years of monthly S$2,000 trades, using POEMS vs moomoo could cost an additional S$30,000+ in fees alone, assuming 7% annual growth on the saved fees.

FSMOne occupies a middle ground — an online platform offering both custodian accounts and CDP-linked accounts, with competitive fees for larger trades and a strong reputation for ETF and unit trust investing. For investors who want low costs and CDP linkage, FSMOne’s Shares account is worth comparing to bank broker options.

Best Low-Cost Brokers for SGX in Singapore 2026

For pure cost minimisation on SGX trades, moomoo (0.03% commission, min S$0.99) consistently ranks as the cheapest platform for trade sizes above approximately S$3,300. Below S$3,300, the minimum fee of S$0.99 acts as a floor making it the cheapest regardless of size. Tiger Brokers (0.06%, min S$1.98) is very close in cost for larger trades. Interactive Brokers (IBKR, 0.05%, min S$2.50) is competitive for mid-to-large trades and offers superior international market access.

For investors who want low-cost investing through a regulated Singapore platform with strong local support, Syfe and Endowus offer alternative structures — fractional investing, automated rebalancing, and managed portfolios — that remove the per-trade fee model entirely in favour of an annual management fee. For long-term, diversified investors who prefer not to stock-pick, these platforms can be more cost-effective than active trading on SGX.

For unit trust and ETF investing without brokerage fees, FSMOne’s Regular Savings Plan charges 0.08% with a S$10 minimum but offers access to hundreds of funds without the per-transaction SGX levy. This makes it particularly suitable for investors building diversified global portfolios through regular monthly contributions.

Our DCA Investment Calculator can help you model how brokerage fees affect your dollar-cost averaging strategy over time — factor in fee costs when setting your contribution amount to ensure each trade remains cost-efficient.

SRS and CPF-OA Investment Account Fees

Singapore investors have two tax-advantaged channels for investing in SGX securities: the Supplementary Retirement Scheme (SRS) and CPF Ordinary Account (CPF-OA) investments. Both come with specific brokerage considerations that differ from standard cash accounts.

SRS investing: Most major banks offer SRS investment accounts (DBS, OCBC, UOB, Maybank). You can use SRS funds to buy SGX-listed stocks, ETFs, and unit trusts through your SRS account’s linked brokerage. The brokerage fees are typically the same as or similar to their standard cash accounts. DBS charges 0.12% (min S$25) for SRS trades, while OCBC and UOB charge comparable rates. Notably, low-cost digital brokers like moomoo and Tiger Brokers do not support SRS investing as of 2026 — you must use a bank SRS account. This creates a genuine cost trade-off: SRS tax relief at your marginal tax rate (up to 24% for income above S$320,000) can more than offset higher brokerage fees on SRS transactions.

CPF-OA investing (CPFIS): Under the CPF Investment Scheme, you can invest CPF-OA funds in approved securities. CPFIS-approved brokers charge similar fees to their standard accounts. However, CPF OA earns a guaranteed 2.5% per annum — investments must beat this hurdle rate (net of fees) to justify using CPF-OA for investing. Our CPF OA/SA Calculator can help you model whether investing CPF-OA in equities makes sense given your risk tolerance and expected returns.

For further context on optimising SRS contributions, see our SRS account guide which covers contribution limits, tax relief calculations, and withdrawal strategies in full.

How Brokerage Fees Affect Your Passive Income Strategy for Retirement

For Singapore investors building a passive income portfolio from S-REITs and dividend stocks, brokerage fees represent a drag on the effective dividend yield that compounds over time. Consider an S-REIT portfolio that generates 6% annual distributions. If you’re reinvesting dividends quarterly through manual trades and paying 0.28% commission on each reinvestment, brokerage costs alone are consuming 0.28% × 4 = 1.12% of your portfolio value annually — reducing your effective yield from 6% to roughly 4.88%. Switching to a 0.06% broker reduces this drag to just 0.24%, preserving 0.88% of additional returns each year.

For the accumulation phase, the most cost-effective approach is to batch contributions — rather than investing small amounts monthly, combine 2–3 months’ savings into a single larger trade to minimise the fixed component of fees. A S$600 monthly investment at 0.03% commission (min S$0.99) costs S$0.99/month = S$11.88/year. Batching to quarterly S$1,800 trades still costs S$0.99/quarter = S$3.96/year — a 67% fee reduction with no change in investment strategy.

Use our Retirement Planning Calculator to project how your portfolio grows over time, and factor in annual fee drag when setting your target return assumptions. Even 0.5% in annual fee savings, compounded over 25 years, can add hundreds of thousands of dollars to your retirement nest egg. Our Passive Income Guide covers the full spectrum of income-generating assets available to Singapore investors, with brokerage cost considerations for each.

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