Interactive Brokers review for Singaporeans

Trade stocks, bonds, options, futures and more with one of the world's largest online brokerage.

Interactive Brokers is one of the most popular online brokerage due to its wide array of stand-out features, including low per-share pricing, institutional-grade trading platform, a large selection of tradable securities and rock-bottom margin rates.

  • Consider IBKR if you’re a frequent, high-volume trader looking to access a multitude of financial instruments across 150+ markets from a single integrated account.
  • Look elsewhere if you’re a beginner who prefers a more streamlined investment broker.
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Stocks, ETFs, Options, Futures, Bonds, Currencies, CFD

What you can trade?


Minimum Opening Balance


Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.

With over 40 years of track record and an impressive global presence, Interactive Brokers (IBKR) is a NASDAQ-listed online brokerage best known for its low commission rates, advanced trading platform and breadth of assets.

Learn more about Interactive Brokers and find out if its offerings are ideal for you in this review.

Quick verdict

Good for
  • Low commission fees and margin-lending rates
  • Wide range of tradable assets across 150+ markets
  • Advanced data and monitoring tools
  • Offers fractional share trading
  • No minimum balance required
Not so great for
  • Complex pricing structure
  • Lacks sign-up promotions
  • Desktop trading platform may be intimidating for beginners
  • Not able to link SGX CDP accounts

Interactive Brokers is regulated by the MAS

Interactive Brokers Singapore Pte. Ltd. Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). Registered Office: #40-02A, Asia Square Tower 1, 8 Marina View, Singapore 018960

What are the benefits of Interactive Brokers?

Interactive Brokers allows convenient online trading on desktop or mobile. A bevy of other benefits separate the platform from others:

  • Multi-platform support. Trade and manage your investment across multiple trading platforms, including desktop, mobile and web with iOS, Android, Excel API, and FIX API versions.
  • Ultra competitive fees. Trading fees begin at 0.08% of trade value for Singapore stocks (min. $2.50 per order) or Hong Kong stocks (min. HK$18 per order), and US$0.005 per share for US stocks (min. US$1 per order, max. 1.0% of trade value). There are also no platform or inactivity fees to look out for.
  • Low margin financing rates. IBKR also offers one of the most favourable margin trading rates among online brokers, which begins at only 1.5% above the benchmark (BM) rate for SGD.
  • Invest globally in a variety of asset classes. Access stocks, options, futures, forex, metals, bonds and funds in more than 150 markets, across 33 countries and in 26 currencies — through a single account.
  • Trade fractional shares. Diversify your investments by investing in eligible US or European stocks based on a dollar amount.
  • Earn daily interest on idle cash. As of March 2023, the interest rate for SGD balance above $14,000 is 2.818% (benchmark rate minus 1%).
  • Diverse order types. Execute faster trades and limit risk through more than 100 order types and algorithms.
  • Participate in Environmental, Social and Governance (ESG) trading. Invest in companies that uphold the principles you believe in. With IBKR’s IMPACT mobile app, you can explore an array of companies from 13 different ESG categories, including clean air, ocean life, ethical leadership and racial equality.

Interactive Brokers features

IBKR offers an abundance of functionality and features, including:

  • IBot feature. Powered by advanced artificial intelligence, IBKR’s impressively easy-to-use chatbot is equipped with voice activation that provides quick access to market information, trading tools, charts, account data and more. IBot can also execute or close orders on command.
  • IB SmartRouting. A cutting-edge routing software that continually scans competing markets and automatically transmits the best firm stock, option, and combination pricing available across exchanges and dark pools.
  • Research. Access news and research from such sources as Morningstar Equity Ownership, Zacks Investment Research and Seeking Alpha. Get access to other sources through paid subscriptions.

Interactive Brokers platforms

IBKR offers an impressive six trading platforms to customers, ranging from a web application to mobile apps to a powerful desktop platform. This allows you to tailor IB to your specific needs as an investor — to use the platform that works best for your investing style and goals.

What are the fees?

Interactive Brokers markets itself as the lowest-cost trading platform on the market.

That may be true, but keep an eye out for its two different pricing structures: Fixed-fee and volume-tiered. Whichever pricing model is more suitable for you depends on your trading frequency, so be sure to keep that in mind. Trades for options, futures, forex, fixed income and more also come with their own fee structures.

Subscriptions to real-time streaming market data is free in some instances, but you may need to pay when exchanges charge Interactive Brokers for the data.

Fixed-fee pricing

IBKR Pro’s fixed rates (either per share or as a percent of trade value) include exchange and regulatory fees. This straightforward, flat-fee structure works best for regular, occasional traders.

Commissions for stocks and ETFs
CountryCommissionMinimum per orderMaximum per order
Singapore0.08% of trade valueSGD 2.50N/A
United StatesUSD 0.005 per stockUSD 11% of trade value
CanadaUSD 0.01 per stockCAD 10.5% of trade value
Hong Kong0.08% of trade valueHKD 18N/A
Australia0.08% of trade valueAUD 6N/A
Japan0.08% of trade valueJPY 80N/A

Note: Information detailed in the tables above is accurate as of 20 March 2023. Please visit Interactive Brokers website for fixed-fee pricing for other products and countries.

Commission-free ETFs

Over 90 ETFs are included in Interactive Brokers’ “fee waived” no transaction fee (NTF) program, which reimburses IBKR Pro customers for all the fees paid on ETF stocks held for at least 30 days.

Volume-tiered pricing

With IBKR Pro’s volume-tiered pricing, the more you trade per month, the less brokerage fee you’d need to pay. This option is best suited for frequent, high-volume traders.

Do note that the fees vary based on what and where you’re trading, with different fee schedules for different countries and options. Additional third-party fees such as regulatory, clearing and exchange fees also depend on which exchange the security is listed on.

Commissions for Singapore stocks and ETFs
Monthly trade value (SGD)CommissionMinimum per order (SGD)
First 2,500,0000.08% of trade value$2.50
2,500,000 – 50,000,0000.05% of trade value$1.60
50,000,00 – 150,000,0000.03% of trade value$1.20
150,000,000+0.02% of trade value$0.90
Commissions for US stocks and ETFs
Monthly volume (stocks)Cost per stock (USD)Minimum per order (USD)Maximum per order
First 300,000$0.0035$0.351% of trade value
300,000 – 3,000,000$0.0020$0.351% of trade value
3,000,001 – 20,000,000$0.0015$0.351% of trade value
20,000,001 – 100,000,000$0.0010$0.351% of trade value
100,000,000+$0.0005$0.351% of trade value

Note: Information detailed in the tables above is accurate as of 20 March 2023. Please visit Interactive Brokers website for volume-tiered pricing for other products and countries.

What to watch out for

While Interactive Brokers offers powerful trading platforms, carefully consider its weaknesses before opening an account.

  • High learning curve. To optimise your account through IB Trader Workstation (TWS), you must thoroughly understand what you want to get out of it — no easy task for beginners. On top of this, the setup is complex enough that even advanced traders may find the process takes time to get right.
  • Real-time data may cost you. Interactive Brokers boasts extensive live data feeds and customisable company notifications. But data and news may involve fees that depend on the options you choose.
  • Not able to link SGX CDP accounts. IBKR does not support the linking of Central Depository (CDP) accounts, which means that any SGX stocks and securities you’ve purchased will be held under IBKR’s custodian account.
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Interactive Brokers reviews and complaints

Interactive Brokers is not accredited with the Better Business Bureau (BBB). However, it earns an A+ rating based on internal BBB criteria that includes the company’s response to more than 20 customer complaints. Interactive Brokers earns a 3.8 out of 5 on Trustpilot as of March 2023. Many clients complain that customer support is slow to resolve issues and the platform often runs into technical problems.

How do I sign up for an Interactive Brokers account?

Signing up for an Interactive Brokers account is quick and simple. To start your online application, click ‘Go to site’ at the top of this page.

Required information

  • Personal and contact details.
  • Income and tax residency information
  • Employer name and address
  • Bank account details for funding
  • Investment objectives and experience

Documents required

  • Proof of identity. A valid government-issued ID, such as NRIC, passport or driver’s license
  • Proof of residential address. Examples of acceptable documents include mortgage statement, utility bill (less than 12 months old), bank statement or government-issued letters

How do you fund your account?

For Singapore users, the only method of funding your account is through a bank wire.

After you’ve signed up for an IBKR account, you’ll receive an email consisting of Interactive Brokers’ custodian bank account information and a set of detailed instructions on how to set up a wire template with your bank. Transfer times vary from immediately to four business days.

Once your funds are successfully deposited, they will be immediately available for trading. Do note that deposited funds will be subject to a 3-day holding period before they can be withdrawn.

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How do I contact support?

Contact Interactive Brokers in three ways:

  • Call +65 6923 5600 weekdays from 8 am to 5 pm SGT
  • Chat live with a rep through your Client Portal 24/7 on weekdays or Sundays from 1 pm to 7 pm EST
  • Email through the message center anytime for a response within 24 hours

Bottom line

Overall, Interactive Brokers is as sophisticated as it is robust, making it an ideal choice for experienced investors and traders in need of comprehensive tools and deep research. Along with its extensive list of tradable products, instruments and markets, IBKR’s all-in-one platform is equipped with almost everything you need to execute swift, well-informed trades.

Beginners, however, may experience a higher learning curve to navigate the platform, but its incredibly low trading fees certainly make it a compelling choice. In addition, IBKR also offers a free demo account for you to familiarise yourself with its features.

Before signing up with Interactive Brokers, be sure to compare other stock trading accounts available to find one that’s best suited for your trading needs and experience.

Compare with other brokers

Name Product Brokerage Fee Tradeable Assets Market Access Trading Platform Offer
Syfe Trade
SGX stocks: $1.98
US stocks: 2 free trades per month and $1.49 per trade thereafter
Stocks, ETFs
Syfe Trade
Get $40 when you sign up on Syfe Trade (minimum deposit of $1,000). Promo code: 'TRADE40'.T&Cs apply.
Interactive Brokers
SGX stocks: $2.50 per order (exclusive of GST)
US stocks: $1.00 per order
Stocks, ETFs, Options, Futures, Bonds, Currencies, CFD
SG, US, CA, AU, UK, IN, JP, HK, MX, FR & 17+ more
Client Portal, Trader Workstation, IBKR Mobile, IBKR GlobalTrader, Impact, IBKR APIs
Take advantage of low trading fees, multiple platform support, and an extensive list of asset classes across global markets, including stocks, options, futures, forex, bonds, and funds.
SGX stocks: N/A
US stocks: $0
Stocks, ETFs, Options, ADRs, Mutual funds
Webull App
Get up to USD$500 worth of shares when you fund and maintain any amount for 1 month. New sign-ups only. Complimentary market data and 0 commission trades. Refer as many friends as possible and get to win up to USD$3,888 worth of TSLA Shares. Offer valid from now till 31 March 2023. T&Cs apply.
Saxo Markets
SGX stocks: $5
US stocks: $4
Stocks, ETFs, Options, Bonds, CFD, Mutual funds
SG, US, CA, UK, AU, HK, CN, SG, JP, IT & 16+ more
SaxoInvestor, SaxoTraderG, SaxoTraderPRO
Trade 22,000+ international stocks on global exchanges with brokerage fees as low as $5. Low-risk account is also available for beginners.
Tiger Brokers
SGX stocks: $1.99 per order
US stocks: US$1.99 per order
Stocks, ETFs, Options, Futures
Tiger Trade
Up to 2.88 free stocks, zero commission trading, Ryde+ subscription for new users. Fund your account for a sure-win lucky draw. Refer your friends successfully for a sure-win lucky draw chance and get free HP, GoPro or Apple fractional shares. T&Cs apply.

Finder Exclusive: Get an additional $20 stock voucher upon account funding (no minimum requirement).
IG CFD Trading
SG, US, UK, ES, FR, DE, IT, CH, AU, SE & 9+ more
IG Online Trading, IG Mobile Trading App, Progressive Web App, ProRealTime, MetaTrader 4, L2 Dealer
CFD Service. Capital at risk.
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Frequently asked questions

Important information: Powered by This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
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