by George Dorgan
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Are you looking to invest in Singapore but feeling overwhelmed by all the different options? Finding the correct brokerage account can be challenging, especially if you are not an experienced investor. That’s why we’ve broken down some of the top-rated brokers in Singapore, explaining the pros and cons each offers so you can choose which online trading platform is best for your needs.
Whether it’s low fees, advanced analytics tools, or a comprehensive education library that matters most, our guide will help ensure your hard-earned money works as hard as possible.
Saxo Markets
Investing can feel intimidating, especially for newcomers who’ve never looked into it before. When looking for the best trading platform in Singapore to get started with, you should be aware of a few features and benefits. Saxo Markets is an excellent brokerage account for beginners because it offers top-notch safety, security, reliability, and scalability. On top of that, equity trading on Saxo Markets also comes with low-cost commissions and competitive spreads, making it ideal for investors on tight budgets.
Additionally, Saxo Markets operates an intuitive app platform with several user-friendly tools specifically designed to make trading easier. With excellent customer service and an easy-to-use interface, investing became more straightforward with Saxo Markets.
AvaTrade
AvaTrade is a popular online broker in Singapore that provides a wide range of trading instruments. It has been operating since 2006 and offers fast execution, low fees, and tight spreads. The brokerage account also comes with several educational tools such as webinars, video tutorials, eBooks, and more to help new traders get up to speed quickly.
On the other hand, AvaTrade’s customer service could be more vital due to the long turnaround times for phone inquiries. Additionally, if you are looking for advanced analytical tools or real-time data packages, there might be a better platform for you.
DEGIRO
DEGIRO is a good option for beginner investors in Singapore because it offers commission-free trading and low fees. The platform also has a user-friendly website and mobile app that makes navigation easy, as well as high-security measures like a two-factor authenticator to keep your account safe.
However, DEGIRO’s range of available financial instruments and markets is limited compared to some of its competitors. Plus, with no access to the stock market, you may find other trading platforms better suited if you want to buy stocks or ETFs in particular.
KGI Securities
KGI Securities is a Singapore-based stockbroker that offers low commissions and tight spreads. The platform also allows investors to access markets from around the world, making it ideal for international traders. Furthermore, KGI Securities offers a range of analytical tools like advanced charting features and customer service support in multiple languages.
On the downside, KGI Securities does not offer leverage trading or real-time data packages, which can be limiting for more experienced traders. Additionally, the company’s customer service could improve as it takes longer than average to respond to inquiries.
Maybank Kim Eng
Maybank Kim Eng is a Singapore-based stockbroker that’s been operating since 1997. It offers competitive fees and tight spreads, making it ideal for beginner investors in the market. Additionally, its user-friendly website and mobile app simplify trading even for those new to investing.
However, Maybank Kim Eng does not offer advanced analytical tools or real-time data packages, which can be limiting for more experienced traders. Plus, its customer service could use some improvement as it tends to take longer than average to respond to inquiries.
Phillip Securities
Phillip Securities is a Singapore-based stockbroker offering low-cost commissions and tight spreads. Its user-friendly website, mobile app, and customer service support make it ideal for beginner investors in the market.
On the downside, Phillip Securities does not offer advanced analytical tools or real-time data packages, which can be limiting for more experienced traders. Plus, its customer service could use some improvement as it tends to take longer than average to respond to inquiries.
Plus500
Plus500 is a popular online trading platform in Singapore that offers access to global markets. It also has a user-friendly website and mobile app with tight spreads, low fees, and fast execution speeds. Plus500 provides customers with an array of educational tools such as webinars, video tutorials, eBooks, and more to help traders get up to speed quickly.
However, Plus500 does not offer leverage trading or real-time data packages, which can be limiting for more experienced traders. In addition, its customer service could use some improvement as it tends to take longer than average to respond to inquiries.
City Index
City Index is an online brokerage firm in Singapore that offers highly competitive fees and tight spreads. It also provides access to markets from around the world, helping investors diversify their portfolios. Moreover, City Index has a user-friendly website and mobile app with powerful tools like charting features and market insights.
On the downside, City Index does not offer leverage trading or real-time data packages, which can be limiting for more experienced traders. Plus, its customer service could use some improvement as it tends to take longer than average to respond to inquiries.
In conclusion
When choosing the correct brokerage account for beginners in Singapore, you should consider factors such as commissions, fees, and customer service support, as well as additional features like analytical tools and real-time data packages.
KGI Securities, Maybank Kim Eng, and Phillip Securities offer competitive fees and tight spreads, making them suitable for beginner investors in the market. Plus500 is another excellent choice, with a user-friendly website, mobile app, and educational resources to get traders up to speed quickly. Finally, City Index provides access to markets from around the world as well as powerful charting features.
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Tags: Featured,Saxobank
