| Important: This article is for informational purposes only and does not constitute financial advice. Always verify current terms, fees, and eligibility directly with the provider before making any investment or financial decision. Last updated: April 26, 2026. |
Last updated: April 26, 2026 | Scope: Singapore retail investors | Audience: First-time and experienced investors
Quick Summary
Top pick: RHB Invest offers a straightforward account opening process with access to SGX and 18 global markets, making it a practical choice for investors who want to open trading account with broad market access from day one.
Open trading account is the first step to investing in Singapore. The process, requirements, and account types vary by provider. This guide explains what to look for and compares leading options.
| Category | Top Pick |
|---|---|
| Best Overall Trading Account | RHB Invest |
| Best for Beginners | Simple cash account with low minimum |
| Best for Active Traders | Margin account with competitive fees |
| Best CDP-Linked Account | Bank-backed or established broker |
| Best Digital Onboarding | Digital-first broker |
Comparison Table (Last updated: April 26, 2026)
Methodology: Accounts were compared on opening requirements, markets accessible, settlement model, onboarding process, and fee structure. All information verified against official provider sites as of April 26, 2026.
| Provider | Account Types | CDP-Linked | Onboarding | Markets | Last Verified |
|---|---|---|---|---|---|
| RHB Invest | Cash, margin | Yes | Online + branch | SGX + 18 global | April 26, 2026 |
| DBS Vickers | Cash, margin | Yes | Online (DBS customers) | SGX + select global | April 26, 2026 |
| Tiger Brokers | Cash, margin | No | Fully digital | SGX, US, HK | April 26, 2026 |
| moomoo | Cash, margin | No | Fully digital | SGX, US, HK | April 26, 2026 |
How to Choose a Trading Account
Before you open trading account, assess your needs across these dimensions:
- Account type: Cash accounts require full payment before trading. Margin accounts allow leveraged trading but carry higher risk and interest costs. Verify margin terms and interest rates directly with each provider.
- Market access: If you plan to trade only SGX-listed stocks, any SGX-licensed broker will suffice. For global equities, confirm which overseas exchanges are accessible. RHB Invest provides access to 18 global markets (rhbinvest.com/equity/account-opening, verified April 26, 2026).
- CDP vs. custodian: CDP-linked accounts give you direct share ownership in your personal CDP account. Custodian accounts hold shares in the broker’s name. Understand the difference before committing.
- Fees: Look beyond headline commission rates. Include minimum commissions, platform fees, inactivity fees, and foreign exchange charges.
- Regulatory status: The broker must hold a Capital Markets Services (CMS) licence from MAS. Verify at mas.gov.sg.
MAS data shows that the number of retail brokerage accounts in Singapore has grown in recent years, with digital onboarding reducing barriers to entry (MAS, Financial Stability Review, 2024: mas.gov.sg).
The 5 Best Trading Accounts to Open in Singapore
1. RHB Invest Cash and Margin Account
Best for: Investors seeking broad market access with a trusted broker
| Quick Facts | Details |
|---|---|
| Account Types | Cash account, Margin account |
| Markets | SGX + 18 global markets |
| CDP-Linked | Yes (for SGX) |
| Onboarding | Online application available |
| Min. Deposit | Verify at rhbinvest.com/equity/account-opening |
| Last Verified | April 26, 2026 |
- Pros: Wide market access; CDP integration; established brokerage with regional presence
- Trade-offs: Verify current commission rates against digital-first competitors
2. DBS Vickers Cash Upfront Account
Best for: Existing DBS customers wanting integrated banking and trading
DBS Vickers offers a Cash Upfront Account designed to minimise counterparty risk by requiring full payment before trade execution. It is CDP-linked for SGX trades and benefits from seamless DBS banking integration.
- Pros: No contra risk; CDP-linked; trusted institution
- Trade-offs: Less suitable for active traders who prefer margin access
3. OCBC Securities Account
Best for: OCBC customers prioritising convenience
OCBC Securities provides CDP-linked trading for SGX equities and access to select international markets. Funding via OCBC bank accounts is straightforward.
- Pros: CDP integration; bank-backed trust; established in Singapore
- Trade-offs: Fee schedule for overseas markets should be verified before trading internationally
4. Tiger Brokers Account
Best for: Investors prioritising US and Hong Kong equities
Tiger Brokers (licensed by MAS) allows fully digital account opening. It offers access to SGX, US, and Hong Kong equities under a custodian model. Verify current terms at tigerbrokers.com.sg.
- Pros: Fully digital onboarding; competitive commissions; strong US/HK coverage
- Trade-offs: Custodian model; not CDP-linked
5. moomoo Account (Futu Singapore)
Best for: Investors who value integrated research and digital experience
moomoo’s digital-first approach allows account opening via its mobile app. The platform offers real-time market data, a news feed, and access to SGX, US, and Hong Kong equities.
- Pros: Modern interface; integrated research; competitive fees
- Trade-offs: Custodian model; verify MAS licence at mas.gov.sg before depositing funds
Best Trading Account for Different Use Cases
| Use Case | Recommended Account |
|---|---|
| Best for SGX-only investors | CDP-linked account (RHB Invest, DBS Vickers) |
| Best for global equities | RHB Invest (18 markets) or digital-first broker |
| Best for beginners | Cash account with no leverage |
| Best for active traders | Margin account with competitive commission tiers |
| Best for digital-native investors | Tiger Brokers or moomoo |
| Best for retirement savings (SRS) | SRS-approved account; check provider SRS eligibility |
FAQs
What do I need to open trading account in Singapore?
Most brokers require: a valid Singapore NRIC (or passport for foreigners), a local bank account for settlement, completion of the Customer Knowledge Assessment (CKA) for complex products, and an online or in-branch application. Specific requirements vary by broker; verify at the provider’s official site.
How long does it take to open a trading account?
Digital-first brokers such as Tiger Brokers and moomoo typically complete account opening within one to two business days. Bank-linked and traditional brokers may take two to five business days depending on document submission. Verify timelines at the respective provider’s website.
What is a Customer Knowledge Assessment (CKA)?
The CKA is a MAS-mandated assessment to determine whether retail investors have the knowledge and experience to trade in specified investment products (SIPs), such as leveraged or complex instruments. Passing the CKA allows access to a wider range of products. Learn more at mas.gov.sg.
Can I open a trading account online?
Yes. Most MAS-licensed brokers in Singapore now offer online account opening. Some, such as Tiger Brokers and moomoo, are fully digital. Others such as RHB Invest and DBS Vickers also provide branch-based options. Check rhbinvest.com/equity/account-opening for the current process.
What is a margin account and is it suitable for beginners?
A margin account allows you to borrow funds from your broker to buy securities, amplifying both potential gains and potential losses. It is generally not recommended for beginners due to the risk of losses exceeding initial capital. Beginners are typically better served by a cash account.
