Best Online Trading Platforms for US Stocks 2022

With many online trading platforms that give you access to trading in the United States, it can be daunting to know which is the best one for you. To help you choose the best one, our researchers compared over 25 brokerages on a range of categories like cost per trade, platform charges, and access to markets.

Trading US stocks in Singapore can be a lucrative way of investing online. While many of our top picks for online brokerages allow customers to trade in the US, the list below identifies the best platforms based on the lowest fees and ease of use for US trading.

Best Commission-Free Online Trading Platform for US Stocks: TD Ameritrade (Thinkorswim)

TD Ameritrade
TD Ameritrade
Consider this if you want the lowest fees
Promotions:
Fee TypeCost
Administrative FeesUSD $0
Commission FeeUSD $0
Minimum FeeUSD $0

TD Ameritrade is best for those looking for the cheapest online brokerage since it does not charge a commission per trade, a minimum trading fee, or require an initial deposit for new and existing customers. You can invest in several products, from stocks, ETFs, options and futures. In addition to this, TD allows an unlimited number of day trades when your account has over USD $25,000 deposited in it. While those with less than USD $25,000 in their account are limited to three trades per day, both those who invest either a large or small amount will benefit from TD's low fees.

Furthermore, since TD Ameritrade acquired Thinkorswim, they offer both their standard TD platform and the more-sophisticated Thinkorswim platform for experienced investors. With special features like the ability to test your strategies and monitor risk and reward, the brokerage offers a low-cost comprehensive package for those who plan to trade in the US.

Best for US Stocks & ETFs Investment Only: Syfe Trade

PROMO: Earn at least S$60 in cash credits and five free commission-free trades per month for the first 3 months
Consider this if you want to trade US stocks and ETFs at a flat rate
Promotions:
  • Earn S$30 cash credit for each successful referral to Syfe Trade

Syfe Trade
Commission-Free Trades a monthCommission rate
Five free trades a month^USD0.99 flat fee^
After Introductory Offer
Two free trades a monthUSD1.49 fee
  • US Stocks
  • US ETFs

Syfe Trade has the lowest commission fees on the market for trading US stocks and ETFs.

For a start, the Singapore online brokerage is giving every investor five free trades per month, and thereafter a flat fee of USD 0.99 per trade, during its introductory offer which will end at the first quarter of 2022.

Even after its introductory offer comes to an end, Syfe Trade remains extremely competitive by giving its investors two free trades per month, and a flat fee of USD 1.49 per trade.


Brokerage
Commission RateMinimum Commission
Syfe TradeUSD0.99 flat fee-
Saxo Markets (Bronze Plan)0.06%USD 4
Tiger Broker0.005 per shareUSD 0.99
moomoo0.0099 per shareUSD 1.99
*moomoo & Tiger Brokers rate consists of commission and platform fees

Syfe Trade also allows investors to engage in fractional trading for US stocks and ETFs, allowing retail investors with smaller capitals to get the US stock or ETF of their choice from just USD 1.

The only drawback to Syfe Trade, for now at least, is that it only offers access to the US market. While there are plans to expand into more markets, including Singapore, users who are looking to invest in the short run would be better off looking at other choices.

If you are willing to wait, however, you’ll be happy with Syfe Trade’s simple and intuitive interface and the SIPC protection for up to 500K against brokerage failure.

Similar to other online brokerage offerings in Singapore, Syfe Trade gives its users live US market data as well to maximise their investment gains.

Read our full review

Cheapest Online Trading Platforms for US & SG Stocks: Tiger Brokers and moomoo powered by FUTU

Tiger Brokers

Consider this if you want the cheapest rates for both US & SG trading
Promotions:
Tiger Welcome Bundle
SGX NIO Stock Voucher Rebate

Market
Tiger Brokers FeeMin CommissionIndustry Average FeeIndustry Average Commission
USUSD 0.005USD 0.990.27%USD $15-$29
Singapore0.03%SGD 0.990.22%S$20

Due to low fees and an unbeatable promotion, Tiger Brokers is the cheapest option for investors looking to trade on US and Singapore exchanges. Additionally, new customers can also enjoy 500 Tiger Coins, 60 commission-free trades (within 180 days) and 1 share of Apple (AAPL) once the account is funded with an initial deposit of S$2,000 or more. Moreover, Tiger Brokers charges neither a custodian nor a currency conversion fee, and it's fairly quick to open an account (1-3 days).

Beyond the promotion, Tiger Brokers gives customers live prices for the US and Singapore markets and charges some of the lowest fees for trading in the US and Singapore. Their low fees extend to the full list of products you can invest in, including stocks, ETFs, options, warrants, CBBCs and futures.

Trading any of those products in the US will cost USD $0.005 in commission with a minimum of USD 0.99, whereas in Singapore it will cost 0.03% in commission and a minimum of S$0.99 per trade. The platform also does not require an initial minimum deposit, making it appealing for investors who are not looking to invest large sums. Read more here.

moomoo powered by FUTU

PROMO: Have a Kopi on moo daily: Get S$2* cashback every day in the month of August!
Consider this if you only want to trade stocks in SG, US, and HK
Promotions:
  • New users who subscribe for Cash Plus of S$100 or above, and ensure that they hold positions of S$100 or above within 30 days, can get S$2 cash coupons every day
  • Only new users can participate in the event, and old customers are not eligible to participate in the event.
  • Promotion Period: 1 - 31 August 2022
  • Cash Coupon: Eligible clients can get a S$2 cash coupon every day for up to 30 days. New moomoo SG users who complete the Cash Plus subscription and hold positions according to the event requirements can get S$2 cash coupons per day.
  • New users include customers whose first deposit time is after 0:00 on August 1st, before 0:00 on September 1st, and those who have made deposits before 0:00 on July 31st, but at 0:00 on July 31st, moomoo SG brokerage assets are: 0 customers

Market
moomoo Brokers FeeMin CommissionIndustry Average FeeIndustry Average Commission
USUSD 0 for the first year, USD 0.99 / Order thereafterUSD 00.27%USD 15-29
Singapore0.03%SGD 0.990.22%SGD 25

moomoo (investment products offered by FUTU) has the lowest commission fees on the market for online brokerage, an intuitive trading platform, and access to US and SG markets — making moomoo an excellent choice for new investors. With their special welcome promotion, new accounts can receive real-time level 2 market data, 1 Apple (AAPL) share (and more) for free.

As one of the cheapest online trading platforms in SG, the commission charged for every trade in the SG markets is only 0.03%, which is much lower than other online trading platforms which range between 0.08%-0.28%. Similarly, moomoo only charges USD 0.99 per order for US stocks, ETFs, and American depositary receipts (ADRs). Furthermore, with their current promotion, you can enjoy commission-free trading for 180 days in the SG market. What's better is that you will be able to enjoy $0 Commission for US Stocks forever. Even after the promotional period ends, new investors will still enjoy the lowest commissions in the market.

If you are looking for a simple UI/UX mobile application, moomoo's intuitive app offers tools like community chat functions, technical indicators, ratings, and insights. So, those looking to trade SG and US stocks can quickly download the app, set up an account, and begin trading. Unfortunately, moomoo's product offering and market access are currently not as broad as some of its competitors. However, they are relatively new and are expecting to broaden their product offering soon.

Best Overall Online Trading Platform: Saxo Markets

PROMO: Win SGD 50,000 by investing/trading with Saxo
Consider this if you are a beginner
Promotions:
  • Promotion: New clients will be upgraded to the Gold plan until 31 Mar 2022 where you get $2 commission on US and SG shares, $15 free commission credit and an addition of $88 bonus commission.

Account Plan
BronzeSilverGoldPlatinumDiamond
Commission Fee per trade0.06%0.04%0.03%0.025%0.02%
Minimum Charge per tradeUSD 4USD 3USD 2USD 1.5USD 1

Saxo Markets is the best overall trading platform for trading in the US as it offers both low fees and high-quality services. For example, Saxo only charges 0.02%-0.06% in commission per trade and a minimum of USD 1-4 per trade. Compared to the industry average of a commission fee of 0.27% and a minimum fee of USD $15-$29 per trade, Saxo ranks well against many of its competitors.

Saxo also encourages new users to familiarize themselves with their tools through a trial period of up to 20 days. With this, both new and experienced traders can map out their investments in stocks, ETFs, options, bonds, CFDs and foreign currencies to make sound decisions. Thus, with both low fees and an intuitive platform, Saxo offers the best combination of online tools and low fees for US trading. Read more here.

Best Online Trading Platform for Expert Traders: Interactive Brokers

Interactive Brokers
Interactive Brokers
Consider this if you want access to a variety of markets in the US
Promotions:
  • -
ProductType of FeeFee
StocksCommission Fee (Min. Fee)USD $0.0035 ($0.35)
OptionsCommission Fee(Min. Fee)USD $0.15-0.65 per contract (USD 1)

Experienced investors looking to invest in a variety of markets across the US will find Interactive Brokers to be the best trading platform for their needs. This is due to the large range of products and markets IB customers can trade. Users can trade stocks, ETFs, securities, futures, futures options, fixed income securities, mutual funds, indices, and warrants worldwide. Trading is relatively cheap as well, costing only USD $0.0035 in commission and USD $0.35 as a minimum fee per trade. Be aware, however, that the firm charges several administrative fees which could hike up the overall price. For example, IB charges a monthly active fee of S$0-S$10, depending on how much commission you pay.

Read more here.

How to Choose the Best Online Brokerage

A good start to deciding which online brokerage platform you should trade with is by comparing the fees. This includes the platform costs, the amount that you will have to pay per trade, and the initial sum of money you will have to invest. For instance, Saxo Markets require an initial investment of S$3,000, whereas Tiger Broker's Prime account is not subject to a minimum deposit. Moreover, while Interactive Brokers charges administrative fees, TD Ameritrade's does not charge any brokerage fees. Thus, taking into account the fees which you can expect to pay and how much you wish to invest will ultimately help you decide which brokerage to procure.

It is also worth noting the extent of market access that your brokerage will provide you with. While investing in US stocks might be a priority for you, having a brokerage offer you several other options could help you diversify your portfolio in the long-run. For instance, Saxo Markets and Interactive Brokers will allow you to invest in 36 and 26 global markets respectively, while TD Ameritrade is targeted only for US trading.

Another thing to consider is the legal protection that your trading platform will guarantee. For example, TD Ameritrade's online brokerage offers an asset protection guarantee to secure your funds against unauthorized access. While most firms offer guarantees to some extent, TD Ameritrade is a member of the Securities Investor Protection Corporation ("SIPC"), which protects securities customers of its members up to USD $500,000 (including USD $250,000 for claims for cash).

Lastly, potential customers should consider the online learning tools they can take advantage of with their brokerage. Since there are copious amounts of products to trade (stocks, ETFs, futures, etc.) and the market is distinct from Asian exchanges, having a platform that offers demos (like Saxo Markets) or free third-party research (like TD Ameritrade) might sway you to one brokerage over another.

Methodology

We've compared over 25 online trading platforms in regards to their charges, fees, ease of use, supplementary tools and features to help you choose the best platform to trade in the US. In choosing which platforms to prioritize, we sought to show you the most important details that could determine your US trading experience.

The table below provides commission, minimum fee, platform fees and the initial deposit amount to assist with your trading.

Online BrokerageCommissionMinimum FeePlatform FeesMinimum Deposit
TD AmeritradeUSD $0USD $0USD $0No minimum
Tiger BrokersUSD $0.01/tradeUSD $1.99N/ANo minimum
Saxo Markets0.04%-0.06%USD $3-$4 (waved until Sept. 2021N/AS$3,000
Interactive BrokersUSD $0.0035/shareUSD $0.35USD $10 or lessNo minimum
Summary Table
Tiger BrokersSaxo MarketsInteractive Brokers
City Index (CFD only)IG (CFD only)Standard Chartered
Poems 2.0DBS VickersFSMOne
RHB SecuritiesU TradeiOCBC
KGIFraseri*TradeCitibank Brokerage
Maybank Kim EngLim & Tan SecuritiesOanda
CmCCity IndexPlus 500
E-ToroE-TradeLCG

Read More:

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.