What Are Trading Platforms?
Trading platforms are online, third-party platforms for individuals to assess financial markets and build their investment portfolios. 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 considering the commission and platform fees.
Best Trading Platforms
Best for beginners: moomoo & Tiger Brokers
Cheapest trading platform: moomoo & Tiger Brokers & Webull
Best for widest range of products: Interactive Brokers (IBKR)
| Platform | Market Access | Commissions Fee | Platform Fees |
| moomoo (by FUTU) | Exchanges: US, Hong Kong, Singapore, China stocks Products: Stocks, ETFs, REITs, Derivatives, Futures, Funds | SG stocks: 0.03% of transaction amount, min. S$0.99/order US stocks: USD$0 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$0.99/order US stocks: USD$0.99/order HK stocks: HK$15/order China A-shares: CNH$15/order |
| Tiger Brokers | Exchanges: US, Hong Kong, Singapore, China, Australia stocks Products: Stocks, ETFs, REITs, Options, Warrants, CBBCs, Futures | SG stocks: 0.03% of trade value, min S$0.99/order 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 | SG stocks: 0.03% of trade value, minS$1/order US stocks: US$0.005/share, min USD$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 AUD$6/order |
| FSMOne | Exchanges: US, Hong Kong, Singapore, China, Malaysia stocks Products: Bonds, Funds, Stocks, ETFs | SG stocks: Flat S$8.80 US stocks: 0.08% or min USD$8.80HK 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, Options, Futures, FOPs, Contracts, Currencies, Metals, Bonds, Mutual Funds | SG stocks: 0.08% of trade value, min S$2.50/order US stocks: USD$0.005/share, min USD$1 /order HK stocks: 0.08% of trade value, min HK$18/Order | None |
| POEMS | Exchanges: Present in 21 countries across North America, Europe, and Asia Pacific Products: Stocks, ETFs, Unit Trust, Bonds | Cash Plus AccountSG stocks: 0.08% of trade value US stocks: USD$1.88 – USD$3.88 HK stocks: 0.05% – 0.08% of trade value, min HK$15 – HK$30 Cash Management Account: SG stocks: 0.18% – 0.28% of trade value, min S$25 US stocks: 0.30% of trade value, min USD$20 HK stocks: 0.25% of trade value, min HK$100 | None |
| WeBull | Exchanges: Present in 2 countries, North America and Hong Kong Products: Stocks, ETFs, Options | Stocks and ETFs: USD $0.000145* total trade volume (min. USD$0.01 – max. USD $7.27/trade) Options trading fee: USD$0.00244* 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/trade) | None |
All information is taken from their official websites and is accurate as of June 2023
Ongoing Promotions
| Platform | Sign-up bonus | Others | Referral |
| moomoo | Get a guaranteed Coca-cola stock and up to S$288 cash coupon | NA | None |
| Tiger Brokers | Save with 0-commission trading, and earn with a 6% guaranteed return on your cash Claim rewards worth up to S$410, including free Apple share | NA | Referrer: Get rewards worth up to S$392 with an interest bonus boosted to 6% p.a. |
| Interactive Brokers (IBKR) | NA | NA | Referrer: Earn $200 Referee: Receive up to $1,000 in free IBKR stock |
| Webull | Fund S$100 or more to get up to 6-40 free shares | NA | Refer 1 friend to fund S$100 or more to get up to 4-20 free shares |
All information is taken from their official websites and is accurate as of June 2023
An alternative to trading is passive investing
Robo investing can be an alternative or a form of diversification for your investment portfolio.
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/Factors | Time & Effort | Market Knowledge | Control of portfolio | Cost |
| Trading Platforms | High | High | High | Medium |
| Robo-advisors | Low | Low | Low | Low |
| Financial Advisor | Low | Low | Low | High |
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.