OCBC Securities

 

OCBC’s online brokerage division is only a few years old, but the firm has developed a strong regional stock broking service very quickly. It offers more markets online than any other Singapore broker and only Phillip Securities rivals it for overall range.

Costs are low and customer service is very good. Given the advantages of having a bank and brokerage account with the same group, OCBC is my top recommendation for international investors looking to open a bank account and brokerage account in Singapore (although Phillip Securities is also worth considering).

Some investors from outside Asia occasionally assume that OCBC’s full name – Oversea-Chinese Banking Corporation – implies the firm is from mainland China or confuse it with ICBC (Industrial and Commercial Bank of China). However, there’s no connection – OCBC is Singapore-based and operates mostly in Southeast Asia.

Markets available
Online tradingAustralia, China B, Hong Kong, Indonesia, Japan - Tokyo, Malaysia, Philippines, Singapore, Thailand, UK, USA
Broker-assisted tradingCanada, Korea, New Zealand, Taiwan, some European markets (Finland, France, Germany, Greece, Netherlands, Norway, Sweden, Switzerland)
Dealing commissions and charges
Online minimummin ~S$15-120
Online detailsAustralia 0.75% (min A$70), China B Shanghai 0.8% (min US$45), China B Shenzhen 1% (min HK$300), Hong Kong up to 0.25% (min HK$150), Indonesia 0.37% (min IDR100,000), Japan 0.75% (min ¥3,000), Malaysia up to 0.5% (min MYR70), Philippines 0.5% (min PHP550), Singapore up to 0.275% (min S$25), Thailand 0.5% (min THB500), UK 0.7% (min £55), USA 0.35% (min US$25)
Broker-assisted minimummin ~S$20-150
Broker-assisted detailsAustralia 1% (min A$80), Canada 0.5% (min C$110), China B Shanghai 1% (min US$55), China B Shenzhen 1.5% (min HK$600), Europe (Finland, France, Germany, Greece, Netherlands, Norway, Sweden, Switzerland) 1% (min €60), Hong Kong up to 3% (min HK$200), Indonesia 0.37% (min IDR150,000), Japan 1% (min ¥3,000), Korea 0.8% (min US$50), Malaysia up to 0.6% (min MYR80), New Zealand 1.3% (min US$100), Philippines 0.5% (min PHP800), Singapore up to 0.5% (min S$40), Taiwan 0.8% (min US50), Thailand 0.5% (min THB750), UK 1% (min £75), USA 0.415% (min US$50)
Other fees and charges
Account fees and inactivity feesNone
Custody chargesNon-Singapore shares custody charges: S$2 per holding per month, if fewer than two trades in month or six trades in quarter (max $200 per quarter)
Dividend chargesNone
Corporate action chargesS$10
Currencies
Currency conversion chargesNo policy stated, but indicative rates show margins from 0.1% (SGD/USD) to 1.5% (SGD/IDR) over interbank midmarket rate.
Hold cash in foreign currenciesYes
Currencies allowedAUD, CNY, EUR, GBP, HKD, IDR, JPY, MYR, PHP, SGD, THB, USD
Other details
Tax-advantaged accountsCPF, SRS
Other products and servicesFutures, FX
Minimum account sizeNone (S$2,000 non-tradable deposit for non-residents)
Company locationSingapore
Further informationVisit OCBC Securities website

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 Posted by at 1:51 pm