Phillip Capital Singapore

 

The last big remaining Singapore independent broker after Kim Eng was purchased by Maybank, Phillip Capital offers a wide range of regional markets. Notably, the line-up now includes Sri Lanka, making it the first multimarket stock broker to offer this to retail investors.

Commissions are very competitive and the fund supermarket could also interest anyone looking to invest in Singapore-based mutual funds. The main weakness is that most markets are not available for online trading – OCBC Securities is stronger in this respect, although Phillip is steadily moving more markets to its online system. Overall, Phillip and OCBC currently seem to be the two firms to consider first if you’re looking for a Singapore brokerage account.

If you’re comparing brokerage accounts regionally, be aware that the Singapore firm is run separately from Phillip Securities Hong Kong and the two divisions offer slightly different services. The Singapore arm is probably a better choice for international investors.

Markets available
Online tradingHong Kong, Indonesia, Japan - Tokyo, Malaysia, Singapore, Thailand, UK, USA
Telephone tradingAustralia, Canada, China B, France, Germany - Frankfurt, Korea, Philippines, Sri Lanka, Taiwan
Dealing commissions and charges
Typical onlinemin ~S$20-50
Online detailsHong Kong 0.25% (min HK$100), Indonesia 0.35% (min S$25), Japan 0.5% (min ¥3000), Malaysia 0.5% (min MYR60), Singapore up to 0.28% (min S$25), Thailand 0.5% (min THB500), UK 0.4% (min £25), USA 0.3% (min US$20)
Typical telephonemin ~S$20-80
Telephone detailsAustralia 0.8% (min A$60), China B 0.5% (min Shanghai US$35, Shenzhen HKD$200), Canada higher of C$0.025/share or 0.4% (min C$35), France 0.6% (min €35), Germany 0.6% (min €35), Hong Kong 0.3% (min HK$150), Indonesia 0.5% (min S$30), Japan 0.6% (min ¥3000), Korea 0.8% (min KRW40,000), Malaysia 1% (min MYR80), Philippines 0.5% (min S$50), Singapore 0.375% (min S$40), Sri Lanka 0.8% (min S$50), Taiwan 0.4% (min NT$1,000), Thailand 0.75% (min THB750), UK 0.6% (min £35), USA 0.5% (min US$25)
Other fees and charges
Account fees and inactivity feesNone
Custody charges for stocksNon-Singapore shares custody charges: S$2 per holding per month, if fewer than two trades in month or six trades in quarter (max $150 per quarter), Taiwan shares custody charges: 0.01% monthly, no waiver for activity, Sri Lanka shares custody charges: 0.0075% monthly (min S$5), no waiver for activity
Dividend charges1% of net value (min S$1, max S$50) for dividends
Corporate action chargesS$10
Currencies
Currency conversion chargesNot stated
Hold cash in foreign currenciesYes
Currencies allowedAUD, CAD, EUR, GBP, HKD, JPY, MYR, SGD, USD
Other details
Tax-advantaged accountsCPF, SRS
Other products and servicesBonds, CFDs, fund supermarket, futures, FX
Minimum account sizeNone (S$5,000 initial payment for non-residents, which can be traded)
Company locationSingapore
Further informationVisit the Phillip Capital Singapore website

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 Posted by at 1:54 pm