When Singapore investors stop comparing brokers and start comparing fees at scale, they tend to land on the same name: Interactive Brokers. Not because it has the friendliest app — it does not — but because the uncomfortable arithmetic of compounding costs always drags you toward whoever charges the least.
This post is the 2026 fact sheet: what Interactive Brokers Singapore actually is, what you genuinely pay, and the three caveats nobody puts in the sign-up page.
What IBKR Singapore Actually Is
Interactive Brokers Singapore Pte. Ltd. is a capital markets services (CMS) licence holder regulated by the Monetary Authority of Singapore — licence CMS100917, verifiable on MAS's financial institutions directory. Its registered office is 1 Harbourfront Place, Harbourfront Tower 1.
It is one of roughly eleven affiliates of the Nasdaq-listed Interactive Brokers Group (ticker: IBKR), the firm Thomas Peterffy founded in 1978 and built into one of the largest electronic brokers in the world. The group operates with no long-term debt and keeps client assets segregated from its own, as MAS custody rules require.
Client assets held in the US sit under SIPC cover up to USD 500,000 (with a USD 250,000 cash sub-limit), plus excess cover through Lloyd's. Brokerage holdings are not SDIC-insured — SDIC covers bank deposits only, up to SGD 100,000 — and no scheme protects you against your investments falling in value.
What You Pay in 2026
Figures below are from IBKR Singapore's own pricing pages, current as of September 2026. Singapore's 9% GST applies to eligible commissions and fees on top of every rate.
- Singapore stocks and ETFs (SGX): about 0.08% of trade value, minimum SGD 2.50 per order.
- US stocks and ETFs, IBKR Pro (Fixed): USD 0.005 per share, minimum USD 1.00. Tiered pricing starts lower, around USD 0.35, but adds exchange and regulatory pass-through fees.
- US stocks and ETFs, IBKR Lite: commission-free. Lite launched in Singapore on 13 August 2025 — Singapore residents can now trade US stocks and ETFs with no commission, platform or settlement fees, no minimums, around the clock.
- Ireland-domiciled UCITS ETFs on the London Stock Exchange (the CSPX / VWRA route so many Singapore index investors use): ~0.05% of trade value with a USD 1.70 minimum per order.
- US options: about USD 0.65 per contract, minimum USD 1.00 (Fixed).
- Currency conversion: the quiet superpower. On IBKR Pro, conversion runs as low as 0.2 basis points (0.002%), though a USD 2.00 minimum raises the effective cost on modest conversions — a typical SGD 5,000–10,000 conversion lands around 0.03%. Compare that with the 0.5%–1% spread most banks and beginner-friendly brokers take, and the FX saving is often bigger than the commission.
- Account minimums and inactivity fees: zero. IBKR's required-minimums page lists USD 0.00 for both, for Pro and Lite. The old $10 monthly inactivity fee has been gone since 2021.
- Withdrawals: two free withdrawal requests per calendar month, regardless of type. From the third onward, fees apply — a US wire is USD 10, an ACH/EFT transfer USD 1. Deposits: the first each month is free; later same-month deposits may pass through third-party fees.
- Market data: free streaming real-time quotes on US-listed stocks and ETFs (non-consolidated, from Cboe One and IEX), free delayed data elsewhere, and 100 free snapshot quotes a month. SGX real-time data is a paid subscription — budget for it if you watch Singapore prices intraday.
One nuance on tiers: GlobalTrader is just the simplified app — underneath, your account is either Lite or Pro. Lite suits buy-and-hold investors who only want commission-free US ETFs. Pro is better for anyone trading SGX, LSE or HK, where Lite pricing doesn't apply anyway. The trade-offs: Lite converts at a wider AutoFX rate (9 basis points vs 3 bps on Pro), pays a quarter-point less benchmark interest on idle cash, and routes orders through payment-for-order-flow — you can switch tiers yourself if you outgrow it.
What You Don't Get
- No CDP registration. IBKR is a custodian broker. Your SGX shares sit in IBKR's name, not yours at the Central Depository. For a buy-and-hold index investor that is usually fine; it matters if direct CDP ownership is important to you.
- No CPF or SRS money. These schemes must use CPF/SRS-approved local brokers. IBKR is the account for cash you manage yourself.
- No infant-account friendliness. The per-order minimums (SGD 2.50 SGX, USD 1.00 US) make tiny trades disproportionately expensive — batch your buys. And the proprietary Trader Workstation has a learning curve; the mobile and web apps are gentler.
- Singapore tax is on your side. Individuals pay no capital gains tax in Singapore. Dividends from Singapore companies are generally exempt under the one-tier system, foreign-source dividends received by individuals are generally not taxed, and interest received by individuals is generally tax-exempt. Hold and rebalance without a tax bill chasing you.
Who It Fits
IBKR rewards investors who already know what an order ticket is. If you dollar-cost average into broad global ETFs, convert SGD to USD or GBP once or twice a month, and plan to hold for a decade, the combination of low commissions, a near-free FX rate, and zero platform fees makes it the cheapest seat most Singapore investors can buy.
If you want your Singapore shares registered in your own CDP name, prefer a guided app that auto-invests SGD 100 a month, or intend to use CPF funds, a bank-linked broker or a local regular-savings plan fits better. The cheapest broker still cannot save you from buying badly — it just makes sure fees are one thing you never have to think about. As always, verify current figures on IBKR Singapore's website before you trade; rates and fees can change.