Best Stock Brokers for Singapore Investors (US, Singapore, Hong Kong markets) 2025

I’ve been getting quite a few questions on the best stock brokers for a Singapore investor recently.

The broker landscape is getting pretty competitive recently, which is great news for investors, so let’s explore our options. 

What to look out for in a Stock Broker (as a Singapore Investor)?

At a high level, the 4 biggest points you look out for in a stock broker are:

1. Fees – Generally speaking, the lower the fees, the better (as long as you don’t sacrifice too much of the other points on this list)

2. Market Access – Which markets the broker gives you access to. As a Singapore investor, the key markets you want (in order of priority) are Singapore, US, Hong Kong and London.

That said, this is ultimately a personal choice, some people are happy with just Singapore and US.

3. Trade Execution – How well the broker executes your trades. Does the broker execute at market price, or is there a small spread?

4. Safety of assets – How safe are your assets? Is there a chance the stock broker will go under? Are assets held in your name?

Apart from the 4 above, everything else is mostly a good to have, and will depend on personal preference:

a. Account Opening Bonus – You get free stuff when you open an account. Nothing Singaporeans love more than a good freebie.

b. CDP vs Custodian – CDP vs Custodian is applicable only for Singapore shares.

It’s ultimately down to personal preference, but for me I would say that if you plan to hold the shares long term, it’s worth paying a bit more on brokerage fees to have your shares held in CDP.

If you just plan to trade, then go with custodian for cheaper fees.

c. User Interface – Again a personal preference.

Sometimes you just cannot get along with the User Interface of certain stock brokers.

Singapore investors today have three competing priorities:

1. Keep SGX shares safely in CDP so dividends, rights and AGMs reach you directly.

2. Pay as little as possible for frequent US/HK trades.

3. Get global access and tight FX once the portfolio becomes meaningful.

No single broker does all three at the lowest cost.

The sensible 2025 answer is therefore: use more than one broker.

The 2025 “best broker” answer for a Singapore investor is:

• use 1 cheap custodian app broker (Webull / moomoo / Tiger) for US/HK/active trades, and
• 1 CDP-linked broker (DBS Vickers Cash Upfront) for SGX positions that must sit in CDP.

If you need global markets, very tight FX, or portfolio margin, add Interactive Brokers (IBKR) – it’s still the workhorse of traders.

Promo terms on the app brokers change every few weeks, so do check out the latest promotional links below!

The 3-step way to choose

Step 1 – Do I need CDP?

If you want dividends, rights, AGMs, easy corporate actions, CPF/SRS later – you need a CDP-linked broker.

In 2025, that’s still most cleanly DBS Vickers Cash Upfront (0.12%, S$10.90, buy-only). 

Step 2 – Where do I actually trade?

• Mostly US/HK → pick Webull, moomoo or Tiger.

• SGX + US + HK + LSE + futures → go IBKR (or Saxo if you prefer the UI). 

Step 3 – How sensitive am I to FX and custody?

• If you convert SGD→USD a lot, IBKR is cheaper.

• If you don’t like custodian risk, put SGX in CDP and only trade US/HK in the app broker.

2025 broker comparison

Everyday / casual investor

 

Advanced / multi-market investor

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CDP vs custodian 

CDP-linked (DBS Vickers Cash Upfront, POEMS CDP, OCBC, UOBKH, CGS, FSMOne for SGX):

• Shares sit in your CDP under your name.

• All corporate actions flow to you.

• Safest structure for long-term SGX.

• You pay more per trade (S$10.90 at the very cheapest; more usually ~S$25). 

Custodian (Webull, moomoo, Tiger, Saxo, IBKR, FSMOne for foreign):

• Broker holds the shares.

• Much cheaper, great apps, better for US/HK.

• You follow their CA workflow.

• TIP: use 2–3 brokers and keep core SGX in CDP.

Other fees to note

1. SGX universal fees – trading 0.0075% + clearing 0.0325% + settlement S$0.35 + 9% GST, charged regardless of broker. 

2. Platform/handling fees on “0 commission” brokers – moomoo and Tiger both layer a small platform fee; Webull currently shows 0 platform for US/HK. 

3. Custody/inactivity at traditional brokers – some bank/broker houses still charge for foreign counters.

4. FX spreads – IBKR is still tighter; app brokers are convenient but wider. 

FAQs 

Are custodian brokers safe?
Yes, they’re MAS-regulated and widely used here. But a custodian broker holds shares in its own name (omnibus) on your behalf, so you follow their corporate-action and transfer process. CDP is cleaner because the shares sit directly in your name at CDP. That’s why most investors choose to keep at least one CDP-linked account.

Why do I still pay fees when the broker says “$0 commission”?
Because SGX charges trading 0.0075% + clearing 0.0325% + settlement S$0.35 + GST on every SG trade, and some brokers add platform/handling fees. “$0 commission” just means the broker waived their commission; it doesn’t remove SGX/CDP/platform charges.

Can I buy SGX shares cheaply on Webull/moomoo/Tiger and later move them into CDP?
Generally no – app brokers here run custodian accounts. Moving from a custodian platform into CDP is usually a manual share transfer (if allowed) and may involve transfer fees and downtime. Easiest path if you 100% want CDP: buy on a CDP broker from day one.

Can I use CPF or SRS on the app brokers?
Mostly no. CPFIS/SRS trades still go through the traditional SG brokers (DBS, OCBC, UOBKH, CGS, POEMS). This is another reason to keep one CDP-linked account.

Which broker is best for HK/China stocks?
For most retail readers: Webull / moomoo / Tiger – because they price HK competitively and the apps handle HK corporate actions and FX for you. If you are more advanced, IBKR is the “one-stop” for HK, US, SG, futures.

I want to buy US ETFs that are not available on SG brokers – what do I use?
Use IBKR (or Saxo) because they give access to way more markets, including LSE and US options. But for some EU ETFs – sometimes you buy the Irish-domiciled or London-listed equivalent.

Who should avoid custodian brokers?
Anyone who:

• is extremely sensitive to CA timing (rights, scrip, odd-lot offers),

• wants to pledge shares easily, or

• just wants everything under CDP for estate or family reasons.

What if I want everything under a Singapore bank name?
Then just say it plainly: use the bank broker and accept the S$25+ minimum. You are buying convenience, not price.

Can I trust the “lifetime $0 US commission” claims?
Treat them as commercial terms that can be revised. 

Do these brokers support fractional shares?
Yes, if you want fractional US shares, use Webull, moomoo, Tiger, or IBKR. If you’re on a classic CDP broker, assume no fractionals.

Concluding Thoughts

It’s never been better to be an investor with so many attractive options.

General rule of thumb to consider:

1. Use an app broker (Webull / moomoo / Tiger) for day-to-day US/HK/SGX trades – cheapest, best UI;

2. Keep a CDP-linked broker (DBS Vickers Cash Upfront) for SGX; 

3. Add IBKR when portfolio size, FX, or global markets matter

Webull Account Opening Promo – Promo Code / Sign Up Bonus

Fund & trade to get free shares and other attractive welcome offers!

Sign up link here!  

Moomoo Account Opening Promo

Moomoo sign up link

 

Interactive Brokers Account Oening Promo

Find out more here.

Saxo Account Opening Promo

Find out more here.