21.5.12

Singapore Stock Broker Comparison

*last updated as of 21/5/2012


A few points to Share:


1) CDP - Central Depository (like a central storage for all your stocks - under the Singapore Government)

2) For the "No Info." part, hope that users of that trading platforms can share with us your views & i will upload again the updated one :)

3) Over the recent years, there has been a change of heart for the retail investors... they are moving towards the new comers: Limntan & esp. hot favourite Standard Chartered Bank for the various reasons shown below.

Limtan

Limtan is a new comer in the world of stock brokerage firms but is strongly supported by the backing of NTUC, where you can obtain linkpoints in exchange for redemptions when you trade.

I opened a new account at the Invest Fair recently with Limtan and will be rewarded with a NTUC $30 voucher if i just make a single trade. Not Bad at attracting new customers to join.

However, i tried its platform and i think it is not really viable to compete against the established players yet.

Standard Chartered Bank

SCB stands out with the No Minimum Fees, hands down! It is super cost savings for people who have only less than $5k to trade (the usual $25 commission to and fro * 2 will eat up already 10% if you just invest $500!).

There are however, some drawbacks. i) the stock trading platform is ill-equipped and show only one stock price at one time.

ii) the stocks are held through custodian account by SCB instead of CDP (However, i do not fear as much since Standard Chartered is quite an established bank but i advise that you do not put all your eggs into one basket as well!)

Conlusion

I seriously think that SCB is worth a try for new stock investors & dividend income investors who are there to accumulate stocks for the long haul and practise dollar cost averaging. When you minus your costs, it means that your profits will rise too! Cheers!

11 comments:

  1. Hey actually, Lim & Tan was one of the first few stock brokers in Singapore together with Kim Eng. They were both started by 2 of the female pioneers in the remisier industry. Not quite sure what you mean by "not viable to compete with the established players" because most of my retail investor friends actually use Lim & Tan because of its additional 5% rebate for online trades and the platform is similar to Kim Eng and UOBKayHian. Loading speed is dependent on the period that you login to the system so you'll need to compare them within the same timeframe. I have 6 different accounts with different stockbrokers and I can't say that I see any difference in speed amongst them.

    ReplyDelete
  2. Hi, I was looking for a comparison of sg brokers and found your page. Your table shows up really tiny on my computer and zooming in makes the text distorted. It'd be great if you could upload a higher-res version to make it more viewable.

    ReplyDelete
  3. Hi,

    I have re-uploaded the image. Thanks for the suggestion if not, i would not have noticed it. :)

    Cheers,
    James

    ReplyDelete
  4. You missed out AMFraser in the list of brokers. Then again, you didn't miss much haha.

    ReplyDelete
  5. Haha.. ok.. I think not many people use AmFraser as its a malaysian stock broker.. So i didn't include it.

    ReplyDelete
  6. You can check this http://www.stockoy.com - A Social Network Website for Trading Community. You can share and exchange ideas and information globally. You can send unlimited Public as well as personalized messages of different stocks information

    ReplyDelete
  7. I ready interested to be a Stock broker.. Dunno if anyone here can give me advices? I had finished my degree in Banking and Finance from University of London as a part time student.
    Presently I have a full time job and hope that I can worked part time as a Stock broker first before to Full time. Direct full time also desired...I do have a few small lients interested to trade stock market, as they were my colleagues whom knew me well.

    Please email me if you have any job offers to roland216@yahoo.co.uk

    Btw, I am already 32. Anyway, I had took the degree to learn more about finance and stock market and had since fall in love with Finance. Seriously looking for finance related jobs, particularly in Stock market

    Boon Keong Singapore

    ReplyDelete
  8. One should be careful while choosing a stock broker because your whole strategy depends on it.

    ReplyDelete
  9. you have published great post about stock broker comparision which Contains comparison and reviews of main stock brokers in India including ICICI direct, sharekhan, reliance money, 5 paisa, zerodha.etc.keep in touch always.
    Visit-
    Stock Trading Tips

    ReplyDelete
  10. Thanks for information. Every one has to made investments according to his financial possibilities, of course, and advices he may get from not involved advisors.

    ReplyDelete
  11. Forex trading is a zero sum game. For every long there is also a short

    Forex Trading strategies

    ReplyDelete