The maths changed in 2026: three of these five brokers now charge zero commission on US stocks, and two charge nothing at all. We checked every fee against the brokers' own published rate cards on 13 October 2026: commission, the platform fee most comparisons forget, SGX rates, and which ones actually link to CDP. Includes a straight moomoo vs Tiger vs Webull fee head-to-head on the three apps most people shortlist.
Three of these five brokers now charge zero commission on US stocks, and two charge nothing at all, so the old advice about picking a broker for its sign-up promo no longer holds.
> Quick view: Webull SG is the cheapest for US stocks at US$0 commission and US$0 platform fee. Tiger is the priciest app broker, at about US$1.99 an order. The catch most tables miss: Singapore brokers add a platform fee on top of commission.
MAS-licensed (Capital Markets Services). Webull removed both commission and platform fees on US stocks and ETFs from 21 May 2026, with no conditions on volume, trading frequency or account size. That is the simplest zero-cost US structure on this list, since moomoo adds a US$0.99 platform fee to every order and Tiger charges commission plus a platform fee on every trade. SG stocks are S$0 commission for the first year for new clients, then 0.025% with a S$0.80 minimum. Level 2 US market data is free (T&Cs apply). The app is fast, the charting is good and the options chain is reasonable. The trade-off is custody: Webull is custodian-only, with no CDP linkage, so SGX shares sit under Webull's nominee structure rather than in your own name, worth weighing if you plan to hold Singapore blue chips or REITs for a decade. Best for: US-focused investors who want the lowest running cost with the fewest asterisks.
US stocks & ETFs: US$0 commission and US$0 platform fee since 21 May 2026, with no volume or frequency conditions. SG stocks S$0 for year 1 (new clients), then 0.025% (min S$0.80). Custodian only, no CDP.
Futu Holdings subsidiary, MAS-licensed (CMS101000). Its US-stock commission has been permanently US$0 since 13 April 2022, a standing rate rather than the 12-month promo it is often described as. What catches people out is the platform fee: the one-year waiver that came with the zero-commission launch closed to new users on 13 November 2022, so an account opened today pays US$0.99 per US order from the first trade. SG stocks are commission-free for the first year for new users. The bigger 2026 story is that moomoo now supports direct CDP account linkage, and unlike Tiger you can both buy and sell through CDP, at 0.10% commission (min S$4.99) plus 0.12% platform fee (min S$4.99), roughly S$9.98 a trade against the S$25–28 bank brokers charge. That means you can hold SGX shares in your own name and still use the same app for zero-commission US trading on the custodian side. Linking takes 1–3 business days and is free. The app is the slickest here, with strong charting, options analytics and an in-app sentiment feed, and there are four walk-in stores at 313@somerset, Bugis, Jem and Parkway Parade. Beyond US and SGX, the same account also trades Hong Kong, Japan and Korea stocks and China A-shares. Best for: investors who want zero-commission US trading and a genuine CDP option in one app.
US commission permanently US$0, but a US$0.99/order platform fee applies from the first trade (the free-year waiver closed to new users in Nov 2022). SG stocks commission-free for year 1, then 0.03% commission (min S$0.99) plus 0.03% platform fee (min S$0.99). CDP linkage supports both buying and selling. Welcome rewards are back to up to S$1,100 (down from S$2,000 in September), plus a 1-year SG commission-free card and a 30-day HK/China A-share card for new accounts, so check current terms.
Global broker, MAS-licensed via Interactive Brokers Singapore Pte Ltd. The big change since this guide first ran: IBKR brought its Lite plan to Singapore retail investors in August 2025, so US exchange-listed stocks and ETFs priced at US$1.00 or above now trade at US$0 commission, with no platform or settlement fees and no minimums, in both regular and extended hours. Lite is open to individual, joint and trust accounts, cash or margin (standalone trusts with corporate trustees are excluded). If you want the full professional toolset instead, IBKR Pro Tiered is US$0.0035/share with a US$0.35 order minimum, dropping to US$0.0005/share above 100 million shares a month, while Pro Fixed is US$0.005/share with a US$1 minimum, still the cheapest serious pricing at size. Either plan gets you 150+ markets in one account: London, Tokyo, Hong Kong, Frankfurt, Sydney, plus bonds, futures and funding in 28 currencies including SGD. Read the Lite carve-outs before you assume everything is zero: non-exchange-listed US stocks (pink sheet and OTCBB counters) revert to IBKR's standard commission schedule, and shares priced under US$1.00 and overnight-session trades sit outside the commission-free treatment. Two further caveats: the platform is powerful but genuinely clunky next to moomoo and Webull, and SGX shares are held by IBKR as custodian, not in CDP. Best for: investors who want free US trading with no promo clock, and anyone who needs global markets in one account.
IBKR Lite: US$0 commission on US exchange-listed stocks and ETFs priced US$1+, no platform or settlement fees, no minimums (Singapore retail, launched Aug 2025). IBKR Pro Tiered US$0.0035/share, min US$0.35; Pro Fixed US$0.005/share, min US$1. Lite excludes OTC counters, sub-US$1 shares and overnight trades.
MAS-licensed since 2020, backed by NASDAQ-listed UP Fintech. Tiger covers US, SGX, Hong Kong, China A-shares and Australian stocks in one account, plus CPF and SRS investing. Neither Webull nor moomoo offers CPF/SRS investing or Australian stocks. What it is no longer is cheap for US stocks. Tiger charges commission *and* a separate platform fee on the same order: US$0.005/share (min US$0.99) commission plus US$0.005/share (min US$1) platform fee, so a small US trade costs about US$1.99 all-in at a moment when Webull and IBKR Lite charge nothing. SGX uses the same double structure: 0.03% commission (min S$0.99) plus 0.03% platform fee (min S$1), i.e. 0.06% with a S$1.99 floor. Each US leg is capped at 0.5% of trade value, which only bites on low-priced shares, and the S$2-per-quarter SGX custody fee is waived for all accounts until further notice. Where Tiger genuinely stands out is the separate Cash Boost Account: since 1 August 2024 it can be linked to your CDP account so you can sell CDP-held SGX shares for 0.10% commission (min S$4.99) plus 0.12% platform fee (min S$5), about S$9.99 against the S$25–28 charged by the bank brokers, and it supports contra trading. CPF and SRS trades on eligible SGX counters run on that same 0.10% plus 0.12% schedule. Note this is for selling out of CDP; new Tiger purchases still settle into Tiger's custodian account. One genuine cost exception: on US orders of less than a whole share Tiger waives commission and charges only a 1%-of-trade-value platform fee capped at US$1, so its fractional pricing is far gentler than its whole-share pricing. Best for: multi-market investors who want CPF/SRS and contra in one app, and anyone sitting on CDP shares they want to sell cheaply.
US stocks: US$0.005/share commission (min US$0.99) PLUS US$0.005/share platform fee (min US$1), about US$1.99 an order, each leg capped at 0.5% of trade value. SGX 0.06% total (min S$1.99). Cash Boost Account links to CDP for selling at about S$9.99. Welcome rewards are deposit-tiered, so check current terms.
Danish-headquartered, MAS-licensed since 2006. Two corrections to claims repeated across Singapore comparison sites. First, Saxo does not link to CDP: its own support pages state that Singapore stocks bought through Saxo are held with its custodian, HSBC Singapore, and will not appear in your CDP account. Second, pricing is set by account tier (Classic, Platinum, VIP) and not by platform; SaxoInvestor is simply the simplified interface, not a cheaper rate card. At Classic, US stocks are 0.08% with a US$1 minimum, so a US$10,000 trade costs US$8 rather than the flat US$1 often quoted; SGX is 0.08% with a S$3 minimum and Hong Kong is 0.08% with a HK$15 minimum. Platinum takes all three to 0.05% and VIP to 0.03% on the same minimums, and Saxo is currently offering new funded accounts a free upgrade to Platinum pricing, which turns that US$10,000 US trade into US$5. That is still dramatically below the bank brokers, since Saxo's own comparison puts DBS Vickers at 0.30% with a US$20 minimum on US stocks, but it is no longer competitive with the zero-commission apps on plain US equities. Custody on SGX stocks and ETFs is free for Singapore residents; on other holdings it is 0% if you opt into securities lending and 0.12% a year if you opt out (0.06% at VIP). What you are really paying for is breadth: bonds, FX, futures, options, CFDs and 20+ exchanges in one professional platform. Best for: investors who want bonds, FX and global equities in a single account, rather than people who only buy US shares.
Classic tier: US stocks 0.08% (min US$1), SGX 0.08% (min S$3), HK 0.08% (min HK$15). Platinum 0.05% and VIP 0.03% on the same minimums, with a free Platinum upgrade currently offered to newly funded accounts. Free SGX custody for Singapore residents. No CDP: SGX shares are held at HSBC Singapore.
We re-read all five rate cards on 13 October 2026. Every fee in this guide is unchanged: Webull is still US$0 commission and US$0 platform fee on US stocks, IBKR Lite still US$0 (Pro Tiered US$0.0035/share), Tiger still US$0.005 plus US$0.005 a share with the 0.5% caps, and Saxo still 0.08%/0.05%/0.03% by tier with the free Platinum upgrade for newly funded accounts. One promo moved:
We re-read all five rate cards on 28 September 2026. Webull, IBKR, Tiger and Saxo are unchanged, and moomoo's welcome rewards (up to S$2,000, plus the 1-year SG commission-free card) still run. One correction to our own earlier version:
Two moomoo details changed on 15 September:
Four details from our 5 September pass still hold:
Also worth knowing: Tiger's S$2-per-quarter SGX custody fee is waived for all accounts regardless of trading activity until further notice, and Saxo charges Singapore residents no custody fee at all on SGX stocks and ETFs.
| Broker | US commission | US platform fee | Effective minimum |
|---|---|---|---|
| Webull SG | US$0 | US$0 | US$0 |
| IBKR Lite | US$0 | US$0 | US$0 |
| moomoo SG | US$0 (permanent) | US$0.99/order (new accounts pay from day one) | US$0.99 |
| Tiger Brokers | US$0.005/share, min US$0.99, max 0.5% | US$0.005/share, min US$1, max 0.5% | about US$1.99 |
| Saxo (Classic) | 0.08%, min US$1 | none | US$1 (US$8 on a US$10,000 trade) |
Exchange, regulatory and FX conversion costs still apply at every broker on this list.
These three are the app brokers Singapore investors shortlist against each other, so here is the head-to-head on its own. All figures are the standing rates, not sign-up promos.
| Webull SG | moomoo SG | Tiger Brokers | |
|---|---|---|---|
| US commission | US$0 | US$0 (permanent) | US$0.005/share, min US$0.99 |
| US platform fee | US$0 | US$0.99/order from day one | US$0.005/share, min US$1 |
| 100 shares @ US$50 | US$0 | US$0.99 | US$1.99 |
| 1,000 shares @ US$20 | US$0 | US$0.99 | US$10.00 |
| SGX | S$0 year 1 (new clients), then 0.025%, min S$0.80 | S$0 commission year 1 (new users), then 0.03% + 0.03%, min S$1.98 | 0.03% + 0.03% platform, min S$1.99 |
| CDP | No, custodian only | Yes, buy and sell, about S$9.98/trade | Sell only, via a separate Cash Boost Account, about S$9.99 |
| Other markets | US, SG | US, SG, HK, Japan, Korea, China A-shares | US, SG, HK, China A-shares, Australia |
| CPF / SRS investing | No | No | Yes |
Note the per-share structure: Tiger's minimums hide how it scales. A 100-share order hits both minimums and costs about US$1.99, but a 1,000-share order is charged on the per-share rate, so US$5 commission plus US$5 platform fee, US$10 for a trade that costs nothing at Webull. Platform fees also attract 9% GST in Singapore; commissions of US$0 obviously do not. One exception runs the other way, and it is the only place Tiger undercuts its own rate card: on US orders of less than one whole share, Tiger waives the commission entirely and charges a platform fee of 1% of trade value capped at US$1, so a US$50 fractional buy costs US$0.50 there rather than US$1.99. Buy one whole share or more and the standard per-share rates resume immediately, so this helps small top-ups, not ordinary orders.
Short answer: pick Webull if you only trade US stocks and want the lowest running cost with no asterisks. Pick moomoo if you want near-zero US costs *and* the ability to hold SGX shares in your own name through CDP, since the US$0.99 platform fee on every US order is the price of that flexibility. Pick Tiger only if you need something the other two do not offer at all: CPF/SRS investing, contra trading or Australian stocks. On plain US-stock cost alone, Tiger is the most expensive of the three.
Work through it in this order rather than starting with the promo:
We checked every figure here against each broker's own published rate card on 13 October 2026, not against comparison-site summaries. That matters, because two things are routinely reported wrong: Singapore brokers usually charge a platform fee on top of commission, and Saxo does not link to CDP despite being described that way almost everywhere.
All 5 are MAS-licensed (Capital Markets Services). Skipped from this list: traditional bank brokers (DBS Vickers, OCBC Securities, UOB Kay Hian, Phillip POEMS), which we cover separately, and robo-advisors, which we wrote up at Best Investment Apps in Singapore (2026).
Two are genuinely free, and a third charges no commission. Webull SG charges US$0 commission and US$0 platform fee on US stocks and ETFs (since 21 May 2026, no volume or frequency conditions). IBKR Lite charges US$0 on US exchange-listed stocks and ETFs priced at US$1.00 or above, with no platform or settlement fees and no minimums. moomoo SG has permanent US$0 commission, but adds a US$0.99 platform fee per order, and for accounts opened since 13 November 2022 that applies from the first trade. Tiger Brokers is the most expensive of the app brokers: US$0.005/share commission (min US$0.99) plus US$0.005/share platform fee (min US$1), roughly US$1.99 per order. Saxo charges 0.08% with a US$1 minimum at its Classic tier, so it is only US$1 on trades up to about US$1,250, and a US$10,000 trade costs US$8. If cost is your only concern, Webull and IBKR Lite are the cleanest.
Because in Singapore the platform fee is usually charged on top, and most comparison tables quote only the commission. Tiger Brokers is the clearest example: its US-stock commission is US$0.005/share with a US$0.99 minimum, but a separate platform fee of US$0.005/share with a US$1 minimum is added, so the real floor is about US$1.99. Its SGX pricing works the same way: 0.03% commission (min S$0.99) plus 0.03% platform fee (min S$1), i.e. 0.06% and a S$1.99 floor. moomoo's US commission is genuinely zero, but a US$0.99/order platform fee applies, from the first trade for any account opened since 13 November 2022. Webull and IBKR Lite currently charge neither. Always add commission + platform fee before comparing, and remember exchange, regulatory and FX conversion costs still apply everywhere.
Only two, and they work differently. moomoo SG supports direct CDP account linkage and lets you both buy and sell through CDP, so the shares sit in your own name at the Central Depository. Pricing there is 0.10% commission (min S$4.99) plus 0.12% platform fee (min S$4.99), around S$9.98 a trade, versus the S$25–28 the bank brokers charge. Tiger Brokers offers CDP linkage only through its separate Cash Boost Account, and it is for selling CDP-held shares (0.10% commission min S$4.99 + 0.12% platform fee min S$5, about S$9.99); your new Tiger purchases still settle into Tiger's custodian account. Webull, IBKR and Saxo are custodian-only. Saxo is widely and wrongly described as CDP-linked. Its own support pages confirm Singapore stocks bought through Saxo are held with its custodian, HSBC Singapore, and will not show up in your CDP account.
All 5 listed (Webull, moomoo, IBKR, Tiger and Saxo) hold a Capital Markets Services (CMS) licence from MAS, the same regulatory tier as DBS Vickers and OCBC Securities. Client money is held in segregated trust accounts. Two things to be clear about: SDIC deposit insurance does NOT apply to brokerage accounts (it covers bank deposits only), and the Singapore-licensed entities are not SIPC members, because SIPC's US$500K (US$250K cash) protection applies to US-domiciled brokers, so your cover depends on the custody chain your broker uses, not on the app you see. The bigger practical distinction for most people is custodian versus CDP: with a custodian account you hold beneficial ownership through the broker's nominee, while CDP-held SGX shares are registered in your own name.
Many SG retail investors do, and in 2026 it is easier to justify. A common setup: (1) Webull or IBKR Lite for zero-cost US stock and ETF buying, (2) moomoo with CDP linkage for long-term SGX holdings you want in your own name (REITs, DBS, Singtel), (3) IBKR Pro or Saxo if you need London, Tokyo, Hong Kong, bonds or FX in the same account. The downside is account fragmentation and multiple FX conversions; the upside is each tool used where it is actually cheapest. There is no MAS rule against holding multiple accounts, and brokerage choice has no Singapore tax implication for retail capital gains.
On cost alone the order is Webull, then moomoo, then Tiger. Webull SG charges US$0 commission and US$0 platform fee on US stocks and ETFs with no volume or frequency conditions. moomoo SG has permanent US$0 commission but adds a US$0.99 platform fee per order from the first trade (its free-year waiver closed to new users in November 2022). Tiger Brokers charges both a US$0.005/share commission (min US$0.99) and a US$0.005/share platform fee (min US$1), so a small order is about US$1.99, and because the per-share rate takes over above the minimums, a 1,000-share order costs about US$10 at Tiger versus US$0 at Webull. Cost is not the only axis, though: moomoo is the only one of the three with full CDP linkage for both buying and selling SGX shares, and Tiger is the only one offering CPF/SRS investing, contra trading and Australian stocks (moomoo now also covers China A-shares, Japan and Korea). Choose Webull for cheapest US trading, moomoo for cheap US trading plus CDP, and Tiger only if you need those extra markets or account types.
The US$0 is real, but it is not universal, and IBKR spells the carve-outs out on its own Singapore Lite page. Commission-free covers US exchange-listed stocks and ETFs. Trades in non-exchange-listed US stocks, meaning pink sheet and OTCBB counters, revert to IBKR's standard commission schedule. Shares priced under US$1.00 and overnight-session trades also fall outside the commission-free treatment. The plan is open to Singapore retail investors holding individual, joint or trust accounts, cash or margin; standalone trust accounts with legal entity trustees are not eligible. IBKR can still charge non-commission fees such as market data and currency conversion, so read the Lite disclaimers before assuming every line on your statement is zero. For plain buying of large US-listed names and ETFs, though, the US$0 holds with no platform fee, no settlement fee and no order minimum.
They win on different things, and the running-cost gap is permanent rather than promotional. On US stocks IBKR Lite is US$0 commission with no platform fee, no settlement fee and no order minimum, while moomoo is US$0 commission plus a US$0.99 platform fee on every order from day one for new accounts, so IBKR is the cheaper account to keep, forever, if all you do is buy US shares. moomoo wins on two things IBKR cannot do here: it links directly to CDP for both buying and selling SGX shares (0.10% commission, min S$4.99, plus a 0.12% platform fee, min S$4.99, about S$9.98 a trade), so your Singapore holdings sit in your own name rather than under a nominee, and its app is far easier to live in day to day. IBKR wins if you need reach: 150+ markets, bonds, futures and funding in 28 currencies in one account, plus Pro Tiered pricing (US$0.0035/share, min US$0.35) that stays cheapest at size. Plenty of people run both: IBKR Lite for US buying, moomoo for the SGX shares they want in CDP.
Not for SGX-listed shares on the open market. To trade on SGX you need a trading account with a broker, and a CDP Securities account only holds the shares; it does not place orders. What you can do without a brokerage account is buy Singapore Savings Bonds: MAS takes cash applications through DBS/POSB, OCBC and UOB ATMs, internet banking and mobile apps, for a S$2 bank fee per application, from S$500, with the bonds held in your individual CDP account. If you want listed shares at the lowest cost, the practical route is one of the brokers above: moomoo if you want the shares in your own CDP account, or Webull and IBKR Lite for US stocks at US$0 commission.
