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Alternatives to Robinhood in Singapore
Since Robinhood is not supported in Singapore, here are 5 low-cost alternatives to trade US stocks.
As such, we’ve tracked down a list of US-stock alternatives that offer low or zero brokerage fees that’d help you save on your trades.
What is Robinhood?
Robinhood is a US trading platform founded in 2013 that offers zero commissions on stocks, options and ETFs. It’s popular among traders thanks to its low fees, range of trading options and minimalist design targeting younger investors.
Users of the app often trade stock options and other assets such as cryptocurrencies using leverage. This is a higher-risk form of trading because both your profits and losses are amplified. For more on the app you can check out our Robinhood review from Finder US, bearing in mind you wont be able to access it unless you hold US residency.
Trade over 18,000 stocks from 46 different markets, including Singapore, Australia, the United States, China and Japan.
Saxo Capital Markets has one of the biggest global stock offerings in Singapore, with users able to trade on up to 36 global exchanges. Similar to Robinhood, you can trade a mix of stocks (including options), ETFs, forex, commodities and cryptocurrency markets.
- Brokerage fee: From S$5 for SGX stocks, US$4 for US stocks
- Inactivity fee: Up to US$150
- Products: SGX-listed stocks, global stocks, forex, CFDs, stock options
- Access: Full-service broker, desktop platform
Take advantage of low trading fees, advance trading tools and access to over 135 markets.
Interactive Brokers stands out as one of the most popular brokerage, mostly due to its competitively commissions and broad scope of international market access. High-volume traders and investors looking to trade a variety of global securities can certainly benefit from this platform.
- Brokerage fee: US$0.0035 per share (Tiered pricing structure)
- Inactivity fee: Up to US$10
- Products: US shares, options, ETFs, EFPs, forex, metals, mutual funds, forex
- Access: Desktop or mobile
With an eToro trading account, you get commission-free US stock trading plus access to forex, cryptocurrencies, ETFs and commodities.
eToro may well be the closest app Singapore has to Robinhood, with low fees and a platform angled at the next generation of traders. Like Robinhood, eToro does not charge commission on US stocks and it allows you to trade a mix of stocks, commodities and currencies using leverage.
- Brokerage fee: $0 for US shares
- Inactivity fee: $0
- Products: US stocks, US ETFs, forex, cryptocurrency, commodities
- Access: Mobile app and desktop
Low commission on international stocks as well as US stocks.
Enjoy affordable trading for US stocks and other markets, including Australia, Germany, Ireland and UK stock markets. Users can also trade forex, cryptocurrencies and commodities using IG’s platform.
- Brokerage fee: From S$10 for SGX shares, US$10 for US shares
- Inactivity fee: S$25
- Products: Singapore and international shares, forex, CFDs
- Access: Mobile and desktop
Zero commission on US exchange-listed stocks and ETFs, from your mobile and desktop app.
TD Ameritrade is one of the most cost-effective brokers for trading in US equities. With zero commission fee on online US stocks, ETFs and options trades, plus a wide array of advanced features on its Thinkorswim platform, TD Ameritrade is an ideal choice for both beginners and advanced traders.
- Brokerage fee: $0 for US shares
- Inactivity fee: N/A
- Products: Options, futures, Stocks, ETFs,
- Access: Desktop or mobile app
Compare share trading platforms
Not what you’re after? You can compare other share trading platforms in the table below.
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