- Experts commend Interactive Brokers Singapore for its extensive market access, allowing clients to trade a wide range of financial instruments across 160 global markets. The platform is praised for its competitive pricing structure, particularly in the US and Singapore markets, and offers various account types tailored to different trading experiences. However, the complexity of the platform may be challenging for beginners, and there are concerns regarding the customer service availability in Singapore.
- Across 1375 user reviews on Good Money Guide, averaging 4.6/5, customers frequently highlight the platform's low costs, broad market access, and advanced trading tools. Many users appreciate the educational resources available, which aid both novice and experienced investors. However, some users express frustration with the complexity of the platform and slower customer support response times.
Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Interactive Brokers Singapore across five key areas of our review framework.
- Pricing5.0
- Market Access5.0
- App & Platform5.0
- Customer Service4.0
- Research & Analysis5.0
Pros
- Wide market access
- Excellent education resources
- Earning interest on cash balance
Cons
- Website interface can be overwhelming
- Minimum investment requirement applies
- Complex fee structure
See full expert review
Our verdict
Interactive Brokers (IBKR) Singapore Pte. Ltd. is a branch of the global brokerage firm Interactive Brokers Group. The company entered Singapore in 2020 and is regulated by the Monetary Authority of Singapore (MAS). It provides trading access to a wide array of financial products, including stocks, ETFs, bonds, and derivatives.
Is Interactive Brokers good for investing and trading in Singapore?
Market Access
Compared to other brokers in Singapore, Interactive Brokers offers broader access to global markets and financial instruments. Clients can trade stocks, ETFs, Warrants & Certificates, options, futures, currencies, bonds, CFDs, and mutual funds on 160 global markets. It also provides Forecast Contracts trading via ForecastEx.
The company enables trading in 28 currencies, alongside FX conversion services in the trading accounts. You can also earn an annualized interest rate of 3.83% on the USD cash balances, although this is subject to a minimum balance requirement.
Pricing
IBKR is known for its competitive pricing. For US markets, commissions on shares and ETFs are charged either on a per-share basis between US$0.0005 and US$0.35 for tired volume, or a fixed rate of US$0.005 per unit. As for Singapore markets, the commission charge will be based on trade value in SGD, ranging from 0.08% to 0.02% for tiered volume or a fixed rate of 0.08%.
Commission charges for options range from US$0.25 to US$0.65 per contract based on tiered volume, with a minimum charge of US$1. For futures, commission charges are range from US$0.1 and US$0.25 per contract, or a fixed US$0.25 per contract.
Account types
IBKR offers a variety of trading platforms in Singapore, tailored to clients' trading experiences.
The Client Portal, a web-based platform integrated with TradingView charts, is well-suited to beginners and intermediate traders.
Trader Workstation (TWS) is a desktop application designed for more professional traders. The platform features a layout library, offering customised views for instrument categories and trading strategies. However, the platform’s complexity could be overwhelming for beginners.
For advanced users, the API platform enables automated trading through algorithmic strategies, more suitable for sophisticated traders.
Research & Education
IBKR provides extensive market analysis and client educational resources through IBKRCampus, an online hub for financial market knowledge. Particularly, the Traders’Academy offers a series of free online courses tailored to different skill levels . The in-house strategists and economists provide timely market news and analysis.
Customer Service
There are various ways to reach out to IBKR’s client services team, such as phone (24/5), email, or Chat Room. However, unlike some other countries with both toll-free and direct dial, Singapore has only one general customer service phone line in Singapore.
Customer reviews for Interactive Brokers
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 1,375 reviews
- Excellent74%
- Very good14%
- Basic7%
- Poor2%
- Bad2%
Read customer reviews
Useful
Useful overview of Interactive Brokers’ strengths and trade-offs: low costs, broad global market access, and advanced tools stand out, while platform complexity and slower customer support for some smaller clients are worth considering. The article’s 4.6/5 customer rating is helpful context alongside the risks of CFD trading. More details are available in the Bestecision review: https://bestecision.com/review/interactive-brokers-review
good
information
Yes, I'm just wait to see how they perform
Digital Crypto currency, stock exchange, trading and stock market
Informative
All the information is so easily accessible for beginner investors like myself.
Simple & Best Price
Nice Interface and very good Prices in General...also easy to use.
Excellent
Excellent mobile platform for trading global markets
Complete
Very broad, stable and cost efficient
Value
They provide a comprehensive service, which they are constantly improving and enhancing. Excellent value for money and sophisticated functionality. I'm constantly finding new resources to help with my investment decisions and risk management.
Quickly & easy
Answer/ trasnfers
Best
Fast and easy execution
professional
great value for money
Outstanding
The level and quality of service is above and beyond any other 'broker' operating in the UK. Most others call themselves brokers but don't have direct market access and so are, in reality, merely platforms: agents that push orders to other brokers. The result is a poor service, bad execution quality and a negative impact on investment returns. Additionally, the Interactive Broker platform is in a league of its own.
If you want an analogy, Interactive Brokers is like driving a Ferrari, while the competition are still using bicycles!
Reliable
Is reliable and diversified
Professional
Customer support is excellent. The app are clunky but work well. I used them for personal investments.
World class trading
'- Multi-currency account
- Worldwide trading
- Sophisticated 24h real-time trading system
- Easy to use client interface
- FX trading
- Favorable fees, commissions and interest rates
- Powerful reporting tools
- Broad range of investment products
- Fair deal execution
- Comprehensive worldwide market information
- Client focus - Fantastic value for money
Organised
They are very clear and sympathetic in encouraging good practice were proper risk management is concerned.
Value for money
Excellent rates
Confusing customer service
My experience with IBKR customer service fell short of my expectations and the response time was excessively long.
Their customer service representatives appear to copy-paste responses without much care.
Security
Provides several investment instruments.
Cheap and complete
IBKR shows really good prices and provide more details and better record-keeping than other providers.
Tina was a Market Analyst at CMC Markets from 2015 to 2024, providing client education, market commentary, and media presentations. She specializes in technical analysis and market fundamentals. Tina believes financial markets comprise a vast area reflecting economies, politics, history, psychology, and philosophy. As a result, her analysis is based on her interpretation of a specific country’s economic and historical background, alongside investor sentiment and behaviour.
Tina’s expertise has garnered recognition, with her commentary frequently quoted by reputable sources like Bloomberg, CNBC, Routers, WSJ, and AFR. Her insights span a diverse spectrum, covering various financial domains, including stock markets, foreign exchange, commodities, and cryptocurrencies. Previously, she also spent significant time with China Central Television. This experience allowed her to develop a deep understanding and insight into China’s economics and business.
