Best Online Brokers in Singapore 2026
MAS-licensed brokers in Singapore — ranked by fees, platform quality and local features for Singapore investors in 2026.
✅ MAS Licensed (CMS)
🇸🇬 SGD Currency
🏦 SGX Listed
🚫 No Capital Gains Tax
🔬 Tested with real accounts
🔄 Last updated: October 2026 · Reviewed by WhichBroker Research Team
⚠️ Risk warning: Investing involves risk of loss. Capital is not guaranteed. Some links on this page are affiliate links — this does not affect our rankings.
What to check before choosing a broker in Singapore
Singapore is one of the world's most investor-friendly jurisdictions — no capital gains tax, no dividend tax, and a highly regarded regulatory framework under MAS. Here's what every Singapore-based investor should verify before opening an account.
1. Check the MAS CMS licence. The Monetary Authority of Singapore (MAS) is Singapore's central bank and integrated financial regulator. Brokers providing capital markets services must hold a Capital Markets Services (CMS) licence. Verify at mas.gov.sg. Foreign brokers may also serve Singapore residents under exemptions for certain professional and sophisticated investors.
2. Investor compensation up to S$50,000. Singapore's Securities Investor Compensation Scheme (SICS) covers investors up to S$50,000 per investor per firm if a MAS-licensed broker fails. Bank deposits are protected up to S$75,000 per depositor under the Deposit Insurance Scheme (DIS). Note: Not all accounts are automatically covered — check whether your specific account type qualifies.
3. No capital gains tax — a global standout. Singapore has no capital gains tax. Gains on shares, ETFs, bonds, real estate and other capital assets are not taxed for individual investors. The sole exception: if IRAS classifies you as a trader engaged in a business of share trading, profits become income tax. For ordinary long-term investors, this is an exceptional tax environment.
4. Dividend income is also tax-free for most. Singapore-sourced dividends are generally exempt from personal income tax under the one-tier corporate tax system (Singapore companies pay corporate tax; dividends are distributed tax-free to shareholders). Foreign dividends remitted to Singapore may be taxable — get advice for large foreign income streams.
Top 4 Best Online Brokers in Singapore — Detailed Reviews
IB
Interactive Brokers
★★★★½
Top pick
Commission
From S$1.50/trade
SGX Stocks
✓ Full SGX access
CFDs / Forex
✓ Forex + futures
Regulation
MAS CMS 100917-1
Cash interest
Up to 4.8% USD
SICS covered
S$50k investor protection
MM
Moomoo
★★★★☆
Best for beginners
Commission
From S$0.99/trade
SGX Stocks
✓ Full SGX access
Regulation
MAS CMS licensed
Parent company
Futu Holdings
TG
Tiger Brokers
★★★★☆
Best for value
Commission
From S$1.99/trade
SGX Stocks
✓ Full SGX access
US Stocks
✓ $0 US commission
Regulation
MAS CMS licensed
Fractional shares
✓ US stocks
Parent company
UP Fintech (TIGR)
SX
Saxo Bank
★★★★☆
Best for advanced
SGX Stocks
✓ Full SGX access
CFDs / Forex
✓ Forex + options
Regulation
MAS CMS 200501878Z
Platform
SaxoTrader Go/Pro
⚠️ Investing involves risk of loss. CFD trading carries high risk — 51–80% of retail CFD accounts lose money. Capital is not guaranteed.
How to Get Started with Best Brokers in Singapore
1
Choose a MAS-licensed broker
Verify any broker holds a valid Capital Markets Services (CMS) licence from MAS at mas.gov.sg. For SGX-listed securities, brokers typically also need SGX Trading Membership. Check whether the specific products you want are covered on the CMS licence.
2
Open your account online
Account opening requires your NRIC/passport, SingPass MyInfo (for Singapore residents — speeds up verification dramatically), and employment details. Most brokers accept online applications; identity verification is often instant via MyInfo. Non-residents provide passport + proof of address.
3
Fund via PayNow or bank transfer
Fund your account via PayNow (instant, zero fees for most brokers), FAST bank transfer, or international SWIFT transfer. Singapore's PayNow system is among the world's most efficient payment rails. Most brokers credit funds same-day for PayNow/FAST transfers.
4
No tax reporting required for capital gains
Singapore residents have no capital gains tax obligations on share and ETF investments. Dividend income from Singapore companies is also tax-free. Foreign dividends remitted to Singapore should be reviewed with a tax professional for large amounts. Report employment income and other applicable income to IRAS in your annual tax return.
🇸🇬 Singapore: Country Environment Blueprint
Primary Regulator
MAS (Monetary Authority of Singapore) —
www.mas.gov.sg. Singapore's central bank and integrated financial regulator. Brokers providing capital markets services must hold a Capital Markets Services (CMS) licence under the Securities and Futures Act (SFA).
Investor Compensation
✅ Securities Investor Compensation Scheme (SICS) — covers investors up to S$50,000 per investor per firm if a MAS-licensed broker fails. Administered by the Securities Investor Compensation Corporation (SICC). Check that your specific account type is covered.
Bank Deposit Protection
✅ Deposit Insurance Scheme (DIS) — insures deposits up to S$75,000 per depositor per full bank or finance company. Administered by the Singapore Deposit Insurance Corporation (SDIC). Applies to SGD deposits and some foreign-currency deposits at DIS member institutions.
Capital Gains Tax
None. Singapore has no capital gains tax. Gains on shares, ETFs, bonds, real estate and other capital assets are not assessable income for individual investors. The only exception is if IRAS determines you are carrying on a business of trading in securities (a trader, not an investor) — in which case profits are treated as income. For long-term investors, this is one of the world's most tax-friendly CGT regimes.
Dividend Tax
Generally tax-free. Singapore-sourced dividends from Singapore-resident companies are exempt from personal income tax under the one-tier corporate tax system. Companies pay corporate tax (17% headline rate) and can distribute dividends tax-free to shareholders. Foreign dividends remitted to Singapore are generally exempt under Singapore's territorial tax system for individuals.
Crypto Tax
Singapore does not levy CGT on crypto. However, businesses or individuals whose primary activity is crypto trading may be subject to income tax on profits. Long-term HODLers are generally tax-free. GST (9%) may apply to certain crypto transactions treated as payment tokens — consult IRAS guidance or a tax advisor for complex crypto activities.
Income Tax
Singapore personal income tax rates are progressive from 0% to 24% (maximum for income above S$1 million; most earners pay far less). Singapore operates on a territorial basis — foreign-source income not remitted to Singapore is generally not taxable. This makes Singapore highly attractive for internationally mobile investors.
Tax Declaration
Annual income tax return to
IRAS (Inland Revenue Authority of Singapore) at
iras.gov.sg. Filing deadline: 15 April (paper) / 18 April (online). Capital gains and Singapore dividends do not need to be declared. Employment income, rental income and remitted foreign income must be declared.
CPF (Central Provident Fund)
Mandatory savings scheme CPF is Singapore's compulsory defined contribution scheme for Singapore citizens and PRs. Contributions by employer (17% of wages) and employee (20% under 55) go into Ordinary Account (OA), Special Account (SA) and MediSave. CPF OA funds can be invested via the CPF Investment Scheme (CPFIS) in approved unit trusts, ETFs and shares, earning returns above the guaranteed 2.5% OA floor.
SRS (Supplementary Retirement Scheme)
Tax deduction on contributions Voluntary scheme offering income tax relief on contributions up to S$15,300/year (Singapore citizens/PRs) or S$35,700/year (foreigners). SRS funds can be invested in approved stocks, ETFs and funds. On withdrawal at retirement, only 50% is taxable — a significant benefit.
No ISA equivalent
Since Singapore has no capital gains tax, there is no need for an ISA-style tax-exempt wrapper for share investing. All capital gains from a general brokerage account are already tax-free for individual investors.
US ETF Access
✅ Singapore residents are NOT subject to EU PRIIPs restrictions. You can access US-domiciled ETFs such as Vanguard VOO, SPY, QQQ, iShares IVV directly via brokers like Interactive Brokers. Combined with zero CGT, this makes Singapore investors uniquely advantaged for global ETF investing.
Domestic Exchange
SGX (Singapore Exchange) — Southeast Asia's leading international exchange. Key index: STI (Straits Times Index), tracking 30 largest SGX-listed companies. SGX is notable for its REIT market (S-REITs) and dual-currency equities. DBS, OCBC, UOB, CapitaLand Ascendas REIT and Singapore Telecommunications are among the most traded.
Accredited Investor Status
MAS defines an "Accredited Investor (AI)" as an individual with net personal assets exceeding S$2 million OR income ≥S$300,000/year. AIs can opt in to reduced regulatory protections in exchange for access to a broader range of investment products. Default: retail investor protections apply unless you opt in to AI status.
What Singapore Investors Need to Know in 2026
Singapore's combination of zero capital gains tax, zero dividend tax (for Singapore-sourced dividends), and a low maximum personal income tax rate of 24% makes it one of the world's most investor-friendly jurisdictions. Long-term buy-and-hold investors keep all their returns from capital appreciation.
Singapore's S-REIT market is one of Asia's largest. S-REITs distribute at least 90% of taxable income to qualify for tax transparency, meaning the REIT itself pays no tax and investors receive distributions. These distributions are generally tax-exempt for individual Singapore investors under the one-tier tax system, making S-REITs exceptionally tax-efficient income investments.
The SRS (Supplementary Retirement Scheme) is often underutilised. Contributions reduce your current-year taxable income — for a high earner, the tax saving on S$15,300 of contributions at the top 24% rate is S$3,672 per year. SRS funds can be invested in SGX stocks and ETFs.
🏠 Local Platforms & Exchanges to Know
DBS
DBS Vickers — Full-service SGX broker backed by DBS Bank. Integrated with DBS banking. Higher commissions (0.18%+ of trade value) but comprehensive research and access to all SGX products including IPOs and S-REITs.
MM
Moomoo — Backed by Futu Holdings (NASDAQ: FUTU). Low-cost broker with strong charting tools, level 2 data and social features. S$0.99 min commission for SGX stocks; $0 for US stocks. MAS-licensed.
TG
Tiger Brokers — Backed by UP Fintech (NASDAQ: TIGR). Popular with younger Singapore investors. Competitive commissions, fractional US shares, US options trading. MAS-licensed.
SGX
SGX (Singapore Exchange) — Singapore's primary exchange. STI index. Notable for S-REITs (CapitaLand, Mapletree), infrastructure trusts and dual-currency counters. SGX operates the CDP (Central Depository) for direct share registration.
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How we chose these platforms
Our team opened real accounts, deposited funds and tested each platform for Singapore residents. We evaluate MAS regulation status, fees (commissions, brokerage, FX conversion, custodian fees), SGX and international market access, platform usability, customer support and local features. Rankings are updated regularly.
Frequently Asked Questions
Is there capital gains tax in Singapore? +
No. Singapore has no capital gains tax. Gains on shares, ETFs, real estate and other capital assets are generally not taxed for individual investors. The only exception is if the Inland Revenue Authority of Singapore (IRAS) classifies you as a trader engaged in a business of trading in securities — in which case gains are treated as income and taxed at your marginal income tax rate. For ordinary long-term investors, all capital gains are tax-free, making Singapore one of the world's most attractive investing jurisdictions.
Are investor accounts protected in Singapore? +
Singapore has the Securities Investor Compensation Scheme (SICS), which covers investor losses up to S$50,000 per investor per firm if a MAS-licensed broker fails. Bank deposits are separately protected up to S$75,000 per depositor under the Deposit Insurance Scheme (DIS) administered by SDIC. Not all account types are automatically covered — check with your broker whether your specific account qualifies for SICS coverage.
What is the SRS and should I use it? +
The Supplementary Retirement Scheme (SRS) is a voluntary retirement savings plan. Contributions (up to S$15,300/year for Singapore citizens/PRs; S$35,700 for foreigners) reduce your taxable income in the year of contribution. SRS funds can be invested in SGX stocks, ETFs and unit trusts. On withdrawal at retirement (after statutory retirement age), only 50% of the amount withdrawn is taxable. For high-income earners, the annual tax saving can be significant — for example, at the 23.5% tax rate, S$15,300 of contributions saves S$3,596 in tax.