- 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
My best experience
Streamlined and efficient
Best platform
I have been working in private banking for many years, and I can confidently say that this is the best investing platform I have come across. The combination of competitive fees and outstanding service truly sets it apart. In fact, the overall experience is superior to what some private banks are currently offering.
Very good User Interface
The Mobile & Desktop Apps are extremely user friendly. The data on each stock/listing is extensive and further filters/cuts can be added to have the desired view. The statements provide a detailed overview of activity and MTM report.
Excellent trading platform
During my more than 7 years of experience trading US stocks and ETFs with different 8 brokers I have yet to come across a broker that would top Interactive Brokers. I hope they keep up the good work.
The best broker ever
I have been a client of Interactive Brokers for more than 7 years now. I am a raving fan of their services. As a long-term investor I am more than satisfied with all the aspects of their work.
Great
Great
Best trading platform
The platform that I have been using since 2021
Best in Class
great prices, great selection on global markets and access - app could be more user friendly
Excellent platform
Using IB for more than 10 years and during this time I find it an excellent platform for the non-expert trading user
Best and Rich Trading Platform
Best and Rich Trading Platform in terms of costs and usability
top and easy App
Very smooth app, has two apps, the older one with all the information or a newer one which has a better UI, more updated etc.
Smooth, runs good, best fx exchange rates, can't complain at all
security
security and low rates
The best broker
Great broker, low fees, many options for traders.They give good interest on the money kept on the account,way more than competitors. Never had a problem with them,I use many brokers but Interactive brokers is the best for me.
Excellent and affordable trading platform
An industry powerhouse best suited for experienced and active traders who need institutional-grade tools and access to global markets. Its strength lies in low costs, superior trade execution, and an incredibly wide range of tradable assets, including stocks, options, futures, forex, and more, across numerous countries.
Best platform
Investing regularly in S&P works very well
Intuitive, informative and Economic value add
I have found this platform easy to use, trustworthy, informative each and every time I've used it. I would recommend to to anyone who is looking to invest privately.
Easy and efficient
Really helpful platform with easy layout and clear investment options
Best platform for investing in US equities
Definitely worth a recommend. Seemless in transactions both deposit and withdrawals. Very transparent and quick. No hiccups since I've started using this service.
IB
Best investing website
Review of services provided by Interactive Brokers
Execution : excellent
Brokerage : low
Support: prompt, knowledgeable, courteous and above all, helpful
Payout: quick and easy
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.
