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The Ultimate Guide to the Cheapest Online Brokerages in Singapore_ IBKR vs moomoo vs Tiger Brokers vs uSmart

Cheapest Online Brokerages in Singapore Compared: IBKR vs moomoo vs Tiger Brokers vs uSmart

profileJoel Koh

When it comes to investing, I would think that the majority of us are in it to maximise our profits; regardless of the amount invested or the time frame you have for investing.

These profits come in the form of portfolio returns after fees, so it would make sense to keep your fees as low as possible so you can keep significantly more of your portfolio’s return.

Source: Giphy

Sure, there’s a case for having your portfolio managed professionally with the right financial advisor or Robo-advisor worth the fees.

But for most of us who are embarking on the do-it-yourself (DIY) path to investing; finding the brokerage with the lowest fees for our needs should be near the top of our list of priorities.

With that in mind here is a comparison of the cheapest online brokerages in Singapore.

Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their own due diligence and consider their financial goals before embarking on any investments or purchasing any investment products.


TL;DR: Cheapest Brokerage Singapore 2022: Interactive Brokers vs moomoo vs Tiger Brokers

MarketsIBKR Pro Fees^ | Min. Commission Per Trademoomoo Fees | Min. Commission Per TradeTiger Brokers Fees | Min. Commission Per TradeuSmart Trader Fees | Min. Commission Per Trade
Singapore0.08% | S$2.500.06% | S$1.98

(Commission + Platform fees)

Commission: 0.03% * Transaction amount, min. S$0.99 / order

Platform Fees: 0.03% * Transaction amount, min. S$0.99 / order
0.06% | S$1.99

(Commission + Platform fees)

Commission: 0.03% * Transaction amount, min. S$0.99 / order

Platform Fees: 0.03% * Transaction amount, min. S$1 / order
0.03% till 31 Dec 2022, 0.05% thereafter | No min. till 31 Dec 2022

Commission: S$0 till 31 Dec 2022, 0.02% * Transaction Amount thereafter, no min. till 31 Dec 2022

Platform Fees: 0.03% * Transaction Amount, no min. till 31 Dec 2022
U.S.US$0.0035 / share | US$0.35US$0 for the first year, US$0.99 / order thereafter | US$0.99

(Commission + Platform fees)

Commission:
US$0 (applicable to clients of moomoo SG on US stock trading only)

Platform Fees: US$0 for the first year, US$0.99 / order thereafter, min. US$0.99 / order (applicable to clients of moomoo SG on US stock trading only)
US$0.01 / share | US$1.99

(Commission + Platform fees)

Commission: US$0.005 / share, min. US$0.99 / order

Platform Fees: US$0.005 / share, min. US$1 / order
US$0.005 / share till 31 Dec 2022, US$0.008 / share thereafter | US$1.50

(Commission + Platform fees)

Commission: US$0 till 31 Dec 2022, US$0.003/ share thereafter, min US$0.50 / order

Platform Fees: US$0.005 / share, min. US$1 / order
Hong Kong0.05% | HK$12 - HK$18
0.03% | HK$18

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. HK$3 / order

Platform Fees: HK$15 / order
0.06% | HK$15

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. HK$7 / order

Platform Fees: 0.03%* Transaction amount, HK$8 / order
HK$12 till 31 Dec 2022, 0.024% + HK$12 thereafter | HK$12

(Commission + Platform fees)

Commission: HK$0 till 31 Dec 2022, 0.024% * Transaction Amount thereafter, no min.

Platform Fees: HK$12
China (A Shares)-0.03% | CN¥18

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. CN¥3 / order

Platform Fees: CN¥15 / order
0.06% | CN¥15

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. CN¥7 / order

Platform Fees: 0.03%* Transaction amount, min. CN¥8 / order
-
U.K.0.050% | £1---
Australian Stocks0.08% | AU$5-0.10% | AU$8

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min AU$2 / order

Platform Fees: 0.07%* Transaction amount, AU$6 / order
-
Additional FeesMonthly activity fee $0

Currency Conversion Fee:
0.002% | US$2 per trade (e.g. converting from SGD to USD)
-SGX Custody Fees: $2 for accounts with no trading transactions in the quarter-

^Tiered pricing. Interactive Brokers Singapore offers tiered pricing to lower rates even more with more volume. In cases where an exchange provides a rebate, the company will pass some or all of the savings directly back to you.

Interactive Brokers Singapore has removed their monthly activity fees as of 1 July 2021. 

Click to Teleport


Comparison Criteria

For starters, here is how we selected the brokerages for this comparison:

  • Charges less than a S$5 minimum fee per trade for the major stock markets that Singaporeans trade in (i.e. Singapore, U.S., H.K., China, and the U.K.)
    • This has to be the standard fee charged and not the promotional price for long-term sustainability.
  • Supports at least three major countries’ stock markets for variety
  • MAS regulated.

This narrows it down to four brokerages:

  • Interactive Brokers (Singapore)
  • Moomoo (Singapore)
  • Tiger Brokers (Singapore)
  • uSmart (Singapore)


As such, we will be comparing these brokerages based on six main factors:

  1. Safety
  2. Pricing & Markets Available
  3. Promotions
  4. Trading Options and Features
  5. UI/UX and Customer Service

Safety

Arguably, this should be the number one factor when considering a brokerage.

After all, low fees are inconsequential if something happens to your investments.

Is Interactive Brokers Singapore Safe?

When it comes to safety, Interactive Brokers Singapore Pte. Ltd. (IBKR SG) is the most established brokerage on this list.

The Singapore branch of Interactive Brokers is part of Interactive Brokers Limited Liability Company (IBKR LLC): an American multinational brokerage firm that conducts its broker/dealer business in over 135 market destinations worldwide.

FYI: IBKR LLC and its affiliates are owned by the Ineractive Brokers Group LLC.

IBKR LLC

IBKR LLC was actually established 44 years ago and currently has about US$10.6 billion in consolidated equity capital.

In terms of regulation, IB LLC is regulated by the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC) and the regulations of other securities exchanges where IB LLC is a member.

In addition to the above-mentioned safeguards, IBKR LLC customers are covered by Securities Investor Protection Corporation (SIPC) insurance for up to US$500,000 for securities and cash (including a US$250,000 limit for cash only).

And according to the SIPC:

SIPC was created under the Securities Investor Protection Act as a non-profit membership corporation. SIPC oversees the liquidation of member broker-dealers that close when the broker-dealer is bankrupt or in financial trouble, and customer assets are missing. In a liquidation under the Securities Investor Protection Act, SIPC and the court-appointed Trustee work to return customers’ securities and cash as quickly as possible. Within limits, SIPC expedites the return of missing customer property by protecting each customer up to US$500,000 for securities and cash (including a US$250,000 limit for cash only).

More importantly, the SIPC protects non–residents and non-U.S. citizens with the same protections that all other customers receive.

However, do note that you cannot trade SGX stocks using an IBKR LLC account.

IBKR SG

Also, since you will likely be opening an account with IBKR SG Pte. Ltd, you’ll want to know this.

IBKR SG is licensed and regulated by the Monetary Authority of Singapore (MAS) as a capital markets services licensee with licence No. CMS100917.

Also, client money is kept safe as according to IBKR:

Client money is segregated in special bank or custody accounts, which are designated for the exclusive benefit of clients of IBKR. This protection (the SEC term is “reserve” and the CFTC term is “segregation”) is a core principle of securities and commodities brokerage.

By properly segregating the client’s assets, if no money or stock is borrowed and no futures positions are held by the client, then the client’s assets are available to be returned to the client in the event of a default by or bankruptcy of the broker.

In other words, if you are an IBKR SG client and your holdings are owned by you, no stock or money is borrowed or you do not trade futures, the IBKR SG agreement states that your assets will be returned to you in the event that IBKR SG goes bankrupt.

The IB SG client agreement also states that its client’s funds are custodised in this manner:

A portion is deposited primarily with large U.S. banks in special reserve accounts for the exclusive benefit of IBKR’s clients. These deposits are distributed across a number of banks with investment-grade ratings so that we can avoid a concentration risk with any single institution. No single bank holds more than 5% of total client funds held by IBKR. As of June 2022, the following banks held deposits from IBKR (this list is subject to change over time at IBKR’s discretion). Certain banks, which are affiliates or branches of foreign financial institutions, are subject to regulatory oversight by the Federal Reserve and the Office of the Comptroller of the Currency.

  • Branch Banking and Trust Company
  • Bank of the West
  • BMO Harris Bank, N.A.
  • Citizens Bank, N.A.
  • KeyBank National Association
  • Standard Chartered Bank
  • US Bank, N.A.
  • Valley National Bank

So you can be sure that your money is kept safe and diversified.

IBKR LLC vs IBKR SG

To know which entity your account is created under, you can generate an activity statement for your account.

Source: IBKR

If your account is with Interactive Brokers LLC, it should reflect at the top that you’re with the U.S. entity or Interactive Brokers Singapore Pte. Ltd. if your account is with the Singapore entity.

Is moomoo Safe?

Next up, we have moomoo, which was started in 2018 by Moomoo Financial Pte. Ltd, a wholly-owned subsidiary of Futu Holdings Ltd.

For context, Futu Holdings was established in Hong Kong back in 2011.

The company is listed on the NASDAQ (NASDAQ: FUTU) and is backed by Chinese internet giant Tencent Holdings (SEHK: 700), renowned U.S. venture capitalist firm Sequoia Capital and Matrix Partners.

According to moomoo SG, previously known as Futu SG:

Securities products and services available via moomoo are offered by wholly-owned subsidiaries of Futu Holdings Ltd., including but not limited to Moomoo Financial Inc. and Moomoo Financial Singapore Pte. Ltd.

Moomoo Financial Inc. is also a broker-dealer regulated by the SEC, FINRA and CFTC

But for the Singapore entity Moomoo Financial Singapore Pte. Ltd., the brokerage is regulated by MAS as Moomoo Financial Singapore Pte. Ltd. and is a capital markets services licence holder (Licence No. CMS101000).

In addition to the above-mentioned safeguards, moomoo SG states that moomoo SG customers are covered by SIPC insurance for up to US$500,000 for their U.S. securities.

The company also has a physical office at 1 Raffles Quay (North Tower) #39-02, Singapore 048583.

Is Tiger Brokers Singapore Safe?

Next, we have Tiger Brokers (Singapore).

The company was founded back in Jun 2014 and is backed by Interactive Brokers Group Inc (IBKR), Xiaomi Inc, the ZhenFund, and Wall Street investment guru Jim Rogers.

Source: Tiger Brokers Singapore

The company is steadily growing as it was recently listed on the NASDAQ exchange in March 2019 with the ticker symbol (NASDAQ: TIGR).

Tiger Brokers and subsidiaries hold 21 licenses/registrations in the USA, New Zealand, Australia, Hong Kong and Singapore.

It’s subsidiary Tiger Brokers (Singapore) Pte. Ltd (TBSL) runs the Tiger Trade platform in Singapore. You will be glad to know that the company is regulated by MAS, a capital markets services licensee (Reg. No. 201810449W), and is authorised to operate in Singapore.

As such, Tiger Brokers is operating in compliance with section 104 of the Securities and Futures Act (“SFA”) where ‘Clients’ funds and investments are kept by a segregated bank account and custodian to ensure it does not commingle with other accounts.

Also, according to Tiger’s customer agreement:

All money, approved securities or other property received by TBSPL from you or from any other Person, including but not limited to, any Clearing house, on your behalf, shall be held by TBSPL as trustee or custodian, segregated from its assets and paid into a segregated bank account or a segregated debt securities account (collectively “Client’s Accounts), and all such monies, approved debt securities or other property so held may be commingled with other client’s funds and shall not form part of TBSPL’s assets for the purposes of insolvency or winding-up.

As such, your investments are held by different banks and prime brokers as custodians for the respective market products and asset classes:

  • US Markets: Transactions are cleared by Trade Up Securities, Inc. and shares are held in custody by Depository Trust Company (“DTCC”).
  • Hong Kong Markets: Transactions are cleared by Interactive Brokers (“IBKJR”) and custodised by Central Clearing and Settlement System (“CCASS”).
  • Singapore Markets: Transactions are cleared by TBSPL, and shares are held in custody by the Central Depository, in accordance with SGX Rules
  • Mutual Funds and Unit Trusts: Assets are custodised by IFAST Financial Pte Ltd and AllFund, Singapore Branch.

Is uSmart Singapore Safe?

Last but not least, we have uSmart SG.

uSmart group was founded back in December 2018 and backed by the Chow Tai Fook group, one of the largest conglomerates based in Hong Kong.

It has headquarters not only in Singapore but in Hong Kong, China and New Zealand as well.

uSmart SG is regulated by MAS as uSMART Securities (Singapore) Pte. Ltd., and holds a capital markets services license.

According to uSmart:

The Client’s moneys will be held by USPL on the Client’s behalf in a trust account, either:
(a) with a bank that holds a licence under section 7 or 79 of the Banking Act 1970 of
Singapore;

(b) a merchant bank that holds a merchant bank licence, or is treated as having been
granted a merchant bank licence, under the Banking Act 1970 of Singapore;

(c) a finance company licensed under the Finance Companies Act 1967 of Singapore; or

(d) a custodian outside Singapore which is licensed, registered or authorised to conduct
banking business in the country or territory where the account is maintained.

uSmart SG Custodians

Singapore: iFAST Financial Pte. Ltd.

Hong Kong: uSMART Securities Limited

US: uSMART Securities Limited

However, uSmart users should take note that:

The Client’s moneys and assets will be deposited into a trust account or custody account and commingled with the other clients of USPL. The Client’s assets will be deposited into a custody account and commingled with the other clients of USPL.

This means that there will be some additional risks compared to segregated accounts.

You can tell that these are not some fly-by-night brokerages as they are heavily regulated.

But, if I were to rank them, Interactive Brokers would be the safest, followed closely by Tiger Brokers, moomoo and uSmart.

Now, let’s move on to the pricing comparison of the more popular markets that Singaporeans trade in.

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Which Online Broker Has The Lowest Fees?

We will be comparing the basic tier of these brokerages in terms of pricing.

MarketsIBKR Pro Fees^ | Min. Commission Per Trademoomoo Fees | Min. Commission Per TradeTiger Brokers Fees | Min. Commission Per TradeuSmart Trader Fees | Min. Commission Per Trade
Singapore0.08% | S$2.500.06% | S$1.98

(Commission + Platform fees)

Commission: 0.03% * Transaction amount, min. S$0.99 / order

Platform Fees: 0.03% * Transaction amount, min. S$0.99 / order
0.06% | S$1.99

(Commission + Platform fees)

Commission: 0.03% * Transaction amount, min. S$0.99 / order

Platform Fees: 0.03% * Transaction amount, min. S$1 / order
0.03% till 31 Dec 2022, 0.05% thereafter | No min. till 31 Dec 2022

Commission: S$0 till 31 Dec 2022, 0.02% * Transaction Amount thereafter, no min. till 31 Dec 2022

Platform Fees: 0.03% * Transaction Amount, no min. till 31 Dec 2022
U.S.US$0.0035 / share | US$0.35US$0 for the first year, US$0.99 / order thereafter | US$0.99

(Commission + Platform fees)

Commission:
US$0 (applicable to clients of moomoo SG on US stock trading only)

Platform Fees: US$0 for the first year, US$0.99 / order thereafter, min. US$0.99 / order (applicable to clients of moomoo SG on US stock trading only)
US$0.01 / share | US$1.99

(Commission + Platform fees)

Commission: US$0.005 / share, min. US$0.99 / order

Platform Fees: US$0.005 / share, min. US$1 / order
US$0.005 / share till 31 Dec 2022, US$0.008 / share thereafter | US$1.50

(Commission + Platform fees)

Commission: US$0 till 31 Dec 2022, US$0.003/ share thereafter, min US$0.50 / order

Platform Fees: US$0.005 / share, min. US$1 / order
Hong Kong0.05% | HK$12 - HK$18
0.03% | HK$18

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. HK$3 / order

Platform Fees: HK$15 / order
0.06% | HK$15

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. HK$7 / order

Platform Fees: 0.03%* Transaction amount, HK$8 / order
HK$12 till 31 Dec 2022, 0.024% + HK$12 thereafter | HK$12

(Commission + Platform fees)

Commission: HK$0 till 31 Dec 2022, 0.024% * Transaction Amount thereafter, no min.

Platform Fees: HK$12
China (A Shares)-0.03% | CN¥18

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. CN¥3 / order

Platform Fees: CN¥15 / order
0.06% | CN¥15

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min. CN¥7 / order

Platform Fees: 0.03%* Transaction amount, min. CN¥8 / order
-
U.K.0.050% | £1---
Australian Stocks0.08% | AU$5-0.10% | AU$8

(Commission + Platform fees)

Commission: 0.03%* Transaction amount, min AU$2 / order

Platform Fees: 0.07%* Transaction amount, AU$6 / order
-
Additional FeesMonthly activity fee $0

Currency Conversion Fee:
0.002% | US$2 per trade (e.g. converting from SGD to USD)
-SGX Custody Fees: $2 for accounts with no trading transactions in the quarter-

^Tiered pricing. Interactive Brokers’ offers tiered pricing to lower rates even more. In cases where an exchange provides a rebate, the company will pass some or all of the savings directly back to you.

** Interactive Brokers has removed their monthly activity fees as of 1 July 2021. However, a US$1 inactivity fee will be applied to accounts having a Net Liquidation Value of less than US$1,000.

However, with IBKR SG’s fixed tier, these exchange and regulatory fees are included in the commission fees you pay.

Additional Exchange Fees

In addition, you will need to pay the additional exchange and regulatory fees.

The Singapore government will levy a GST (Goods and Services Tax) at a rate of 7% on these fees as well.

Singapore 

SGX charges an additional fee of 0.0075% + 0.0325% for all brokerages.

U.S.

  • Settlement Fee: US$0.003 for filled shares
  • SEC Fee(sells only): US$0.0000051  Transaction amount, minimum US$0.01 /
  • Order.Trading Activity Fee (TAF, sells only): US$0.000119 / Share, minimum US$0.01 – max US$5.95
  • American Depositary Receipt (ADR) Custodian Fee: US$0.01 – US$0.03 US / Share

Hong Kong

  • Trading fee: 0.005% * trade value + 0.5 HKD
  • Settlement and delivery cost: 0.002% of trade value min. 2 HKD and max. 100 HKD / trade.
  • Transaction levy: 0.0027% * trade value.
  • Stamp duty: 0.13% of Trade Value (round up to the nearest integer).
  • FRC Transaction Levy:  0.00015% * transaction amount
  • The Singapore government will also levy a GST (Goods and Services Tax) at a rate of 7% on these fees except for stamp duty.

China

  • Product handling fee: 0.00487% * trade value
  • Product handling fee: 0.002% * trade value
  • Settlement payment: 0.004% * trade value
  • Stamp duty: 0.1% * trade value(round up to the nearest integer)(charged for sell orders only)
  • The Singapore government will also levy a GST (Goods and Services Tax) at a rate of 7% on these fees except for stamp duty.

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Promotions For New Users

Now let’s talk bout the new user promos.

Although this should not be the main reason why you choose a brokerage, this is important nonetheless.

Interactive Brokers Singapore Sign-Up Promo

Interactive Brokers actually has a referral program.

For new users that are invited by existing Interactive Brokers Singapore customers, you will get to enjoy these rewards:

  • Referrer Reward: US$200 for each referred client when the referred client opens an individual, joint, trust or retirement account, funds and maintains a balance of at least US$10,000 for one year.
  • Referred Reward (New User): New users will receive $1 in IBKR shares for every $100 of value (cash or other assets) added to their account for up to US$1000 worth of IBKR shares.
    Do note that the average balance must be maintained for at least one year for the shares to vest and be accessible.

moomoo Sign-Up Promo

New users who successfully open a Moomoo Financial Singapore Pte. Ltd. Securities Account can enjoy $20 Cashback on top of moomoo welcome rewards.

Plus, apply for this product and score 1X entry in SingSaver’s Score Big Grand Lucky Draw, where you stand to win your share of over $30,000 worth of exciting prizes! (valid till 18 December 2022. T&Cs apply).

Disclaimer: Seedly and SingSaver are companies owned by Hyphen Group.

Tiger Brokers Sign-Up Promo

If you open an account with Tiger Brokers, you will get to enjoy these benefits (till 30 Aug 2022):

  • S$88 deposited into your account after you make an initial deposit of S$1,000 and complete five new trades.
  • One Grab (GRAB) share (valued at US$3.56 as of 9 Aug 2022 closing)
  • Zero-commission trades for:
    • US stocks for 180 days
    • HK & SG stocks and CN A-Shares for 365 days

uSmart Sign-Up Promo

New users who sign up for uSmart can enjoy the following rewards (till 30 Sep 2022):

  • Free US and SG market LV1 Live Price upon account registration
  • S$15 cash voucher upon account opening (Standard or Intel only)
  • Free Apple (AAPL) shares depending on the amount of your first deposit and upon executing one trade of at least S$100
    VoucherRedemption Conditions
    0.1 AAPL.US (AUM SGD 200) Share Voucheri) Maintain 30 consecutive days of daily average asset ≥ SGD200 within the validity period. The asset at the end of the 30th day has to be ≥ SGD200.

    ii) Make at least one trade of value ≥ SGD100
    0.5 AAPL.US (AUM SGD 2,000) Share Voucheri) Maintain 30 consecutive days of daily average asset ≥ SGD2,000 within the validity period. The asset at the end of the 30th day has to be ≥ SGD2,000.

    ii) Make at least one trade of value ≥ SGD100
    2 AAPL.US (AUM SGD 50,000) Share Voucheri) Maintain 30 consecutive days of daily average asset ≥ SGD50,000 within the validity period. The asset at the end of the 30th day has to be ≥ SGD50,000.

    ii) Make at least one trade of value ≥ SGD100

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Trading Options And Features

Interactive Brokers

Undoubtedly, Interactive Brokers is the brokerage with the most trading options as you can trade:

  • Stocks (long or short)
  • ETFs
  • REITs
  • Penny Stocks
  • Mutual Funds
  • Options
  • Futures and  Futures Options
  • Currencies
  • Bonds

As for data and features, users will receive free delayed market data for the available exchanges by default.

As the cherry on top, IBKR also allows for fractional shares trading!

moomoo

With moomoo, you can trade the following investment products on the platform:

  • Singapore Market: Stocks, ETFs, REITs, Structured Warrants and DLCs
  • US Market: Stocks, ETFs, Futures, ADRs and Options
  • HK Market: Stocks, ETFs, REITs, Futures, Warrants and Callable bull/bear contracts (CBBCs)

In addition, you get access to free level 2 market data.

Tiger Brokers

As for Tiger Brokers, you can trade the following investment products on the platform:

  • US/HK/SG/CN/AU stocks (long or short)
  • US stock options and HK Warrants/CBBCs
  • US stock ETFs / SG stock ETFs and REITs
  • Index/metal/treasury/energy futures & more

You also get access to access to multiple trading features such as real-time stock quotes, one-click trading, profit and loss analysis, stock options trading, in-depth analytics, screeners and candlestick charts.

uSmart

With uSmart, you can trade these investment products:

  • US/HK/SG stocks
  • US stock options and HK Warrants/CBBCs

While uSmart is currently lacking when it comes to variety and does not offer free real-time stock quotes, it does have a leg up over Tiger Brokers and Moomoo (at the moment) thanks to its fractional shares trading feature.

Moreover, uSmart stands out with its educational features which make learning easier for beginner investors.

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UI/UX and Customer Service

In terms of these brokerages, you can check out our real user reviews of these brokerages that discuss the user experience and their customer service experience.

As a bonus, we have many experienced users on Seedly who can answer any queries you might have when comparing online brokerages:

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Closing Thoughts

Why Choose Interactive Brokers?

I would choose Interactive Brokers simply because of its low costs, especially after its removal of monthly maintenance fees.

The wide range of access to markets is a plus point too. Especially for those who are looking to access the Ireland domiciled ETFs on the London Stock Exchange.

Tiger Brokers vs moomoo vs uSmart

If you are choosing between Tiger Brokers and moomoo, there is little that separates them as fees are roughly the same.

For example, if you were trading a US share, you would be charged a minimum of US$1.98 on moomoo per trade and US$1.99 on Tiger per trade after adding up the commission fees and platform fees.

In terms of features, Tiger is also more mature and reliable.

That said, moomoo has recently removed its commissions for US stocks and Tiger Brokers has also responded with its own commission-free promotions.

The newest kid on the block, uSmart SG, is also running commission-free promotions.

But regardless, isn’t it great that we have these affordable options?

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About Joel Koh
History student turned writer at Seedly. Before you ask, not a teacher. I hope to help people make better financial decisions and not let money control them.
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