BEST TRADING PLATFORMS

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What Are Trading Platforms?

Trading platforms are online, third-party platforms for individuals to assess financial markets and build their investment portfolio. Through the platform, users can open, close, and manage their market positions. From stocks to ETFs to forex, users can decide what they want to invest in to achieve their financial goals. Some factors to consider when choosing the right trading platform include fees involved, user-friendliness of the software, and international market access.

Compared to robo-advisors, trading platforms are more do-it-yourself (DIY) and require more discretion and research. It is imperative that users understand the risks and make their investment decisions carefully as trading involves more monitoring due to the manual aspect of it. 

However, investing in trading platforms allows for more flexibility in rebalancing portfolios and there is a better chance to outperform the market compared to robo-advisors, after taking into consideration the commission and platform fees.

Cheapest trading platform: moomoo & Tiger Trade & Webull
Most user-friendly platform: moomoo & Tiger Trade
Best for wide range of stock exchanges: Interactive brokers (IBKR)
Best for widest range of products: POEMS
PlatformMarket AccessCommissions FeePlatform Fees
moomoo (by FUTU)Exchanges: US, Hong Kong, Singapore, China stocks

Products:
– Stocks
– ETFs
– REITs
– ADRs
– Futures
– Options

SG stocks: 0.03% of transaction amount, min. S$0.99

US stocks: USD$0.0049/share, min USD$0.99/order

HK stocks: 0.03% of investment amount, min HK$ 3/order

China A-shares: 0.03% of transaction amount, min CNH$3/order

SG stocks: 0.03% of transaction amount, min. S$1.50

US stocks: US$0.005/share, min US$1/order

HK stocks: HK$15/order

China A-shares: CNH$15/order

Tiger TradeExchanges: US, Hong Kong, Singapore, China, Australia stocks

Products:
– Stocks
– ETFs
– REITs
– DLCs
– CBBCs
– Mutual funds
– Futures
– Options

SG stocks: 0.04% of trade value

US stocks: USD$0.005/share, min USD$0.99/order

HK Stocks: 0.03% of trade value, min HK$7/order

China A-shares: 0.03% of trade value, min CNH$7/order

AUS stocks: 0.03% of trade value, min AUS$2/order

(External fees apply)

SG stocks: 0.04% of trade value

US stocks: US$0.005/share, min US$1/order

HK Stocks: 0.03% of trade value, Min HK$8/order

China A-shares: 0.03% of trade value, min CNH$8/order

AUS stocks: 0.03% of trade value, min AUS$6/order

FSMOneExchanges: US, Hong Kong, Singapore, China, Malaysia stocks

Products:
– Stocks
– ETFs
– REITs
– Mutual funds
– Futures
– Options
– Forex

SG stocks: Flat SGD$8.80

US stocks: 0.08% or min USD$8.80

HK stocks: 0.08% or min HK$50

China A-shares: 0.08% or min CNH$40

MY stocks: 0.08% or min MYR$8.80

None
Interactive Brokers (IBKR)Exchanges: Present in 33 countries across North America, Europe and Asia Pacific

Products:
– Stocks
– ETFs
– Mutual Funds
– Futures
– Block desk
– Forex (Spot Currencies)
– US Spot Gold
– Hedge Funds
– Cryptocurrencies

SG stocks: 0.08% of trade value, min SGD$2.50/ order

US stocks: US$0.005 per share, min USD$1 /order

HK Stocks: 0.08% of trade value, min HK$18/Order

None
POEMSExchanges: Present in 21 countries across North America, Europe and Asia Pacific

Products:
– Stocks
– ETFs
– SSFs
– Mutual funds
– Futures
– DLCs
– Block Desk
– Gold
– Forex

Cash Plus Account
SG stocks: 0.08% of trade valueUS stocks: USD$1.88 – USD$3.88

HK stocks: 0.05%-0.08% of trade value, min HK$15-30

Cash Management Account
SG stocks: 0.18%-0.28% of trade value, min SGD$25

US stocks: 0.30% of trade value, min USD$20

 

HK stocks: 0.25% of trade value, min HK$100

None
WebullExchanges: Present in 2 countries, North America and Hong Kong

Products:
– Stocks
– ETFs
– Options

Stocks and ETFs: USD $0.00013 * Total Trade Volume (Min. USD $0.01, Max. USD $6.49 per Trade)

Options trading fee: USD $0.00218 * No. of Contracts (Min. USD $0.01)  

Options regulatory fee: USD $0.02915 * No. of Contracts

Options clearing fee: USD $0.02 * No. of Contracts (Max. USD 55 per Trade)

None

All information is taken from their official websites and is accurate as of 19th June 2022

Ongoing Promotions

PlatformSign-up bonusOthersReferral
moomoo1 Free TSLA share for new signupsNANone
Tiger Trade1 Free Apple (APPL) share with a first minimum deposit of SGD 2,000

NAReferrer: SGD88 Stock Vouchers + Scratch up to 10 Netflix shares

Referee: SGD88 Stock Vouchers

*referee must have minimum $100 deposit

FSMOneNAFree market depth data for SGX-listed securities, including stocks and ETFs for new users and current Market Depth Data subscribers

Ends 30/06/22

Referrer: 1% sales charge token

Referee: 1.00% maximum sales charge for their unit trust purchase

Interactive Brokers (IBKR)NANAReferrer: $200 cash bonus

Referee: $1 in IBKR shares for every $100 of value (cash or other assets) added to their account for up to $1000 worth of IBKR shares

*referee must maintain a balance of at least USD$10,000 for 1 year

Link

WebullGet up to USD $100 worth of Apple (APPL) fractional shares and a 3-month Level 2 US Market Data (Nasdaq TotalView) subscription.NANA

All information is taken from their official websites and is accurate as of 19th June 2022

An alternative to trading is passive investing

Robo investing can be an alternative or a form of diversification for your investment portfolio.

Robo investing

 

Read our review on trading platforms

Should You Use Trading Platforms?

Being a self-directed investor, trading platforms definitely require a lot of expertise and patience. However, it is a good venue to trade a variety of investment products. Other than trading platforms, there are also other alternatives including robo advisor funds or investing through a financial advisor. While all of these methods have their pros and cons, it is good to follow a hybrid approach.

Method/FactorsTime & EffortMarket KnowledgeControl of portfolioCost
Trading PlatformsHighHighHighMedium
Robo-advisorsLowLowLowLow
Financial AdvisorLowLowLowHigh

Remember to ensure you have your bases covered with your emergency fund and insurance coverage in place first. Read more about the basics of personal finance.

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