It didn’t get much of an announcement given that some customers have been lobbying for it for ages, but Interactive Brokers has finally added direct stock trading for Singapore to its platform (it’s had derivatives for years, but not cash equities).
This plugs the last major gap in the firm’s line-up. There are many other exchanges that it will hopefully eventually add, but the absence of SGX was always strange and the biggest limitation of Interactive Brokers’s otherwise very good and cheap service.
Fees are extremely competitive: 0.12% with a minimum of S$3. This compares with standard rates of around 0.275% and a minimum of S$25 in Singapore; even Saxo Bank charges 0.15%. The one caveat is that, judging by the wording of the announcement, Singapore residents still won’t be able to trade Singapore stocks through Interactive Brokers (presumably it doesn’t have a full local licence).
The stock broker list, stock broker comparison tables and Interactive Brokers profile have been updated.
2 replies on “Interactive Brokers now offering Singapore stocks”
Can I as a Singaporean open an IB account trading on US stocks and what are the requirements
I believe the only restriction for Singapore residents is that they can’t trade Singapore stocks through an IB account – US stock trading is not restricted. But you’d need to check with IB. Their usual requirements are minimum initial deposit $10,000 or local currency equivalent and sufficient trading experience.