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Citibank Trading Platform Review: How Does This Bank Compare?

Citibank Brokerage offers a seemless trading platform for existing customers, but neither offers wide market access or low fees

Citibank Trading Platform Review: How Does This Bank Compare?

Citibank Brokerage offers a seemless trading platform for existing customers, but neither offers wide market access or low fees

3.5/5.0

ValueChampion Rating ValueChampion Icon

Pros

  • Low JPY Commission Fees
  • Integrated banking and investment login

Cons

  • High fees
  • Limited Trading Products
  • No online application

Citibank Trading Platform is an online trading platform from Citibank Brokerage that gives individuals access to 6 markets. Comparatively, Citibank Brokerage has high trading fees of S$28 and 0.25% trading commissions based on SG stocks. There are cheaper brokerages that offer similar product and market access available in Singapore. For those who already bank with Citibank, can integrate your banking and investment accounts into one login. This may be appealing for those looking to trade only in SG and US markets.

Summary of Citibank Online Brokerage
Four different accounts to choose from
High commission rates and fees
Five available markets
Promotions:

Table of Contents

What Makes Citibank Stand Out to Investors

Citibank isn't the cheapest option for the average investor. The online brokerage offers comparatively higher trading fees and does not include an intuitive online account application. However, Citibank offers a number of accounts that can be useful for specific types of investors, such as for those interested in forex accounts and time deposits. Additionally investors may also be attracted to Citibank's Online Premium Account, which offers dual currency investment of 10 different currencies.

Even still, investors looking to only trade in SGX, HK, or US markets, can still find online brokerages in Singapore with commission fees as low as 0.08% and even lower minimum fees per trade. With commission fees ranging from 0.18%-0.25% and access to limited markets, Citibank falls short of other online brokerages in Singapore.

The list below includes the types of SG stock available to trade with Citibank. The commission fees for all range from 0.18%-0.25% per trade, depending on the initial amount you put into your trading account. For a more detailed description of the fees, check out the fees section.

  • Common stock
  • Exchange-traded funds
  • Time deposits
  • Online unit trusts
  • Forex
  • Fixed income securities
  • Bonds and structured products

Investment Opportunities at Citibank

Citibank has multiple account options for investors with different risk profiles. If you already bank with Citibank, the online application process to begin trading is streamlined. If you are new customer, you will have to submit an application form and contact a relationship manager. Be aware that some of these accounts require different criteria for eligibility.

  • Basic Brokerage Account: This standard account allows you to trade securities in 5 different markets and three international markets. Depending on your trade amount, the commission fees will range between 0.18%-0.25%. You must be above the age of 21 and either a Singapore citizen, Singapore PR, or employment pass holder. US persons are not eligible to trade on this platform. You can manage individual or joint investments within a single login and earn interest on your cash trading account balance.
  • Unit Trust Account This account gives you access to buy and sell Unit Trusts (mutual funds) using your Citibank Online and Mobile account. You can also invest from S$100 with a monthly regular savings plan through this account. You can quickly begin trading Unit Trusts after completing your risk profile assessment.
  • Forex Accounts: With this account you get access to trade SGD, USD, EUR, GBP, NZD, HKD, CAD, AUD, CHF, JPY, AED, DKK, SEK, and ZAR currencies all from your mobile phone. Investors can also set up a preferred FX rate and automate buy and sell orders to be executed. This account is not offered to individuals who reside in the EU, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK.have initial deposit requirements of S$10,000 for Singapores and Singapore permanent residents. Although there are no transaction fees charged, the FX rate will be different from the prevailing interbank market rate and includes a bank spread from 0.10% - 1.5%.
  • Premium Account: This account is not to be mistaken for an upgraded basic brokerage account with added features. This is simply an account that allows you to buy and sell in dual currency investments at potentially higher rates than a traditional forex account by choosing a principal and secondary currency with a set tenure (i.e. 1 week to 6 months). Upon maturity, you will earn the principal plus the interest earned from the weaker of the two currencies.

Citibank Fees

Once you choose an account, you must decide how much you would like to keep in it prior to investing. The table below illustrates the three different segments you can choose from and how that will influence the charges you will incur.

InputMinimum Commission FeeMinimum Charge
S$50,000 and below0.25%S$28
S$50,000-S$100,0000.20%S$28
S$100,000 or more0.18%S$28
International MarketsCommission Fee %Min. Charge
United States0.25%USD 28
Hong Kong0.25%HKD 200
Japan0.25%JPY1,200
EU1%N/A
International market fees from Citibank are competitively priced among other banks who offer brokerage services. For example, to trade in the US, iOCBC charges a minimum of USD $30 at 0.30% commission, whereas Citibank chargest USD 28 and 0.25% commission. Japan markets are even lower at 0.25% for Citibank and 0.75% for iOCBC. That being said, there are still cheaper alternatives outside of traditional banks that offer the best rates. For example, Saxo Markets charges only USD $4 at 0.04-0.06%. Investors looking to get the cheapest rates for their preferred international market should read our picks for the cheapest online brokerages.

Citibank Investor Eligibility Requirements

Consider this if you want to trade online securities with a bank

You can apply for a Citibank trading account with or without a Citibank bank account. However, you cannot apply online, and must visit a local branch or contact a relationship manager to sign up. For Singaporeans and Permanent Residents, you must provide a signed copy of your NRIC and a document for proof of address. Foreigners must bring a valid passport, Singapore Residence Pass/Work Permit/Dependent's Pass/Student's Pass, and proof of address. Keep in mind US persons are not eligible to apply.

New Investors who already bank with Citibank and looking to trade traditional stocks, ETFs, and Unit Trusts, in US, SG, HK markets may find Citibank as a convenient trading platform. However, if you prefer to trade with lower fees or simplified and intuitive platform features, check out our top choices for the best online trading platforms in Singapore.

Stephen Lee

Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.