Best Brokerage for Singapore stocks - Dividend Machines by The Fifth Person

Q&A › Category: Dividend Stocks › Best Brokerage for Singapore stocks

G Huin asked 2 years ago

Hi, Need your advice on choosing the right brokerage for my SG stocks. I have an existing account with UOB KayHian. There are many new brokerages available and I am looking at minimizing the commissions I pay.

For my existing stocks that I bought on UOB KayHian, I can only sell them via UOBKayHian? Commission is steep.
For new stocks, what is the recommended brokerage? I am looking to add the recommended REITs to my portfolio.

I buy/sell HK stocks using my Tiger Brokers account. Thanks

3 Answers

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Rusmin Ang Staff answered 2 years ago

Hi Huin,

Let me answer your questions below:

1. You can sell through other broker if you bought it under CDP account. For example, FSMOne allows you to link to your CDP account which you can then sell via the App. If you buy under their custodian account, then can only sell through their platform.

2. I think low cost brokerage such as Tiger, Moo Moo, IBKR or FSMOne got license in Singapore. You can check out here.

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G Huin answered 2 years ago

Thanks Rusmin. I came across a very old reply you gave on shares in a CDP versus Custodian account. I think I prefer to hold SG shares in my CDP account albeit at higher commission, and then sell them via FSMOne at a flat fee.

Rusmin Ang Staff replied 2 years ago

Yes I hold most local shares via CDP too but increasingly I am open to buy share with low-fee brokerage platform too. If you’re still interested to attend AGM and receive annual report, still make sense to hold via CDP.

G Huin replied 2 years ago

Got it. Thanks

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Timothy Ng answered 2 years ago

Does Moo Moo work on a desktop computer or only on a mobile?