We have narrowed down the variety of brokerage accounts accessible into a few key categories.
Which is better for equities from abroad and overall: Interactive Brokers or ProsperUs?
You may utilize Interactive Brokers (IBKR), known for their exceptionally cheap costs, to invest internationally in a range of assets from a single integrated account in 135 markets spanning 33 countries, including stocks, options, futures, currencies, bonds, and funds.
IBKR Lite and IBKR Pro are two separate price tiers that both have little or no commission costs. IBKR Lite, however, is only accessible to direct US clients, clients of Introducing Brokers, and those who work for companies who use Employee Track.
Prior to this, users of IBKR could not
ProsperUs, which is supported by CGS-CIMB, is likewise among the top brokers available. In addition to stocks, ProsperUs also provides ETFs, mutual funds, bonds, CFDs, FX, and options across markets in the U.S., China, the U.K., Singapore, Australia, Europe, Malaysia, Japan, and other places.
The commission charge is determined by the account tier you hold—Rookie, All-Star, or Hall of Fame. The platform levies a flat rate commission cost of US$5 across all tiers if you trade on the AMEX, NYSE, or NASDAQ of the United States. If you don't trade frequently and take into account that it is also governed by the Monetary Authority of Singapore, the pricing is still pretty competitive even if it isn't the lowest (MAS).
Additionally, there are no platform fees or account fees with ProsperUs.
Additionally, there are no platform fees, account maintenance fees, or inactivity fees with ProsperUs. There isn't even a little deposit needed.
From 1 October to 31 December 2022, if you create a new worldwide investment account with ProsperUs, you will receive a S$30 cash credit for each purchase transaction you make, up to a maximum of three days' worth of buy trades using the same ProsperUs accounts. The three purchase trades must be executed within 30 days of the account opening.
Additionally, until December 31, 2022, you will receive a free level 1 market data subscription for American equities (NASDAQ, New York Stock Exchange, AMEX, and ARCA).
One of the newest players in Singapore's online brokerage market, moomoo SG made headlines when it pre-launched by giving away a free Apple (AAPL) shares with each filled account.
For SG stocks, moomoo SG levies a commission fee of 0.03% per transaction amount, with a minimum commission fee of S$0.99 (except for commission-free months). Please be aware that moomoo SG only allows you to trade US, HK, or Singaporean stocks and that you will be charged a platform fee of 0.03% of the transaction value (minimum S$0.99 per order).
Attention investors: moomoo is providing consumers with a lifetime zero commission for US equities and a year of no platform costs for the US market.
You will also receive free access to Level 2 Market Data for the US Stock Market and Level 1 Market Data for the Singapore Stock Exchange and the China A Shares Market upon successful account opening.
Additionally, if you invest at least S$100 in moomoo Cash Plus and hold S$100 or greater for 10 days, you'll receive a S$2 cash coupon each day for the next 10 days.
If you deposit S$2,700 or more, you'll get one opportunity to spin the wheel and win 1 free share worth from S$35 and S$200.
These promotions expire on December 31, 2022.
Tiger Brokers, which only joined the market in 2020, is still charging just 0.08% for each deal. Tiger charges US$0.01 per share with a minimum price of US$1.99. This applies to US equities. The benefits of creating a Tiger Brokers account are increased by the absence of an inactivity charge and a custodian fee. Before you can place a transaction, you must fund your Tiger Brokers account.
One of the newest brokerages in Singapore is called Webull. The trading platform, a well-known online broker in the US, offers free commission and platform costs for the US and HK markets.
Furthermore, it allows for the trade of fractional shares for as little as $5 per fractional share. As a result, you may purchase expensive shares of giant corporations like Alphabet, Apple, and Amazon even if you don't have a lot of wealth.
TD Ameritrade is the best for US markets with no commissions.
One of the biggest US online brokers, TD Ameritrade, offers all new and current customers an incredible US$0 commission on all online stock, ETF, and option trades that are published on US exchanges. Additionally, there are no platform fees, inactivity fees, or minimum deposits needed.
Beyond commission-free trading, INVEST Fair 2019 chose thinkorswim, the trading platform from TD Ameritrade Singapore, as their "Most Preferred Platform." Additionally, they provide thorough investor education and trading tools.
FSMOne is ideal for flat fees.
Regardless of the amount of your deal, FSMOne traders pay a fixed processing cost of only S$8.80. Additiona
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