Top Budget-friendly Brokerages in Singapore – Boosts Your Moral to Be Enthusiastic In Life

Top Budget-friendly Brokerages in Singapore

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It is well known that investment in stocks and even mutual funds comes with a huge risk. Apart, from that most of the time, the returns are very low from what we expect. This is mostly due to the high commission and brokerage fee that is charged on our money. It keeps on multiplying year after year. Thus, to gain high returns from your investments you must identify what hinders the multiplication of your money. Here in this article, we got you covered. We will give solutions to enhance your returns without the involvement of much risk-

Learn more about online brokerages Singapore.

To eliminate low returns you need to eliminate the high commission and brokerage fee that is added to your investment. Choosing the best brokerage firm is essential. Here’s all you need to know about brokerage firms in Singapore:

  • There are two ways in which brokerage accounts can hold your shares. They can either keep your account as a custodian or you can own the stock under your CDP account. However, the brokerage fee and commission charges are much less in the first one.
  • Further, if you chose to go by the second one then, you must identify if you are willing to bear the risk or not.
  • Also, the features of the online platforms are definitely useful for you if you are a seasoned investor.

Let’s dig a little deeper and look at the comparison between CDP accounts and custodian accounts.

CDP VS Custodian accounts:

In a CDP account, all your investments and stocks are held in your name whereas the stocks are held by the brokerage firm in the Custodian account.

A total fee of 0.04% is applied on CDP in terms of clearing fee, SGX trading fee, etc. for the benefits of exclusive ownership offered by the brokerage firm. However, all these are excluded from the Custodian account. The brokerage firm will also save you if you short-sell your shares in the custodian account.

Stock Brokerage accounts in Singapore:

 Here’s a list of different brokerage firms and accounts in Singapore that offer stocks at a low commission and other fees.

  • CGS-CIMB trade: It has a minimum commission fee of $25 and the range of trading fee is between 0.18% – 0.275%
  • DBS Vickers securities: It has a minimum commission fee of $25 and the range of trading fee is between 0.18%- 0.28%
  • KGI securities also have similar statistics as GCS-CIMB trade.
  • And lastly, Lim and tan Securities. They have similar statistics as DBS Vickers.

Bottom Line

Whichever investment suits you just make sure that the risk is minimum and returns are high.

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