There are so many brokers in Singapore. If you choose the wrong broker, you will end up paying a high commission fee. In this video, I’ll show you what brokers are available and how to choose the best Singapore stock broker, enjoy!
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0:00 – Intro
0:47 – Types of Brokers Available
Brokers with CDP account allow you to buy/sell through different brokers. But their trading fees are super expensive.
Brokers with custodian account holds your stocks for you. You can only use the same brokers to buy/sell. But their trading fees are very cheap.
1:43 – Stock Broker Comparison
02:52 – CDP Broker
If you don’t mind paying a high fee, and really need the convenience of buying/selling stocks through different brokers, use CDP broker.
Personally I feel that convenience is unneeded as you can easily transfer the stocks over if needed. You would also need to get used to the new broker if you decide to transfer over.
5:05 – Custodian Broker
You can use Tiger Broker
Another option is Interactive Broker. However Interactive Broker charges $10 monthly maintenance fee if your total asset is lesser than $100k. A trick is to use Tiger Broker or Moomoo at the start, then transfer over to Interactive Brokers when you reach $100k.
6:55 – Summary