For anyone searching for an Interactive Brokers review in Singapore, here is the short answer. As at November 2026, IBKR’s Singapore entity lists US stock commissions from US$0 on its Lite plan and from US$0.35 to US$1 an order on its Pro plans. SGX shares cost 0.08% with a S$2.50 minimum, and it publishes its currency conversion cost, which starts at about 0.03%. It holds a Capital Markets Services licence from MAS.
Investing can lose money. Lower fees help, but they do not protect you from falling markets. This review explains the platform and recommends no investment.
What Interactive Brokers Is
Interactive Brokers, or IBKR, is a global broker founded in the United States. Singapore residents open accounts with Interactive Brokers Singapore Pte. Ltd.
It offers access to a wide range of stock markets from one account, plus ETFs, bonds, funds, options, futures and currencies. Compared with the app brokers Singapore creators promote, it is plainer to look at and broader in scope.
MAS Licence and How Your Assets Are Held
The MAS Financial Institutions Directory lists Interactive Brokers Singapore Pte. Ltd. as a Capital Markets Services licensee. The licence covers dealing in securities, collective investment schemes, exchange-traded and over-the-counter derivatives and leveraged foreign exchange, along with product financing and custodial services.
IBKR holds your investments in custody. SGX shares bought through it do not go into a CDP account in your name.
Your holdings are not SDIC-insured. SDIC covers eligible bank deposits. No scheme compensates you for market losses.
Interactive Brokers Review of Singapore Fees (as at November 2026)
These figures come from Interactive Brokers Singapore’s pricing pages. GST of 9% applies where relevant.
| Item | Fee |
|---|---|
| US stocks and ETFs: IBKR Lite | US$0 commission (Singapore retail investors, conditions apply) |
| US stocks and ETFs: IBKR Pro Fixed | US$0.005 a share, min US$1, max 1% of trade value |
| US stocks and ETFs: IBKR Pro Tiered | US$0.0035 a share, min US$0.35, plus exchange and clearing fees |
| Singapore stocks: Fixed | 0.08% of trade value, min S$2.50 |
| Currency conversion: manual | 0.20 basis points of trade value, min US$2 per order |
| Currency conversion: automatic | No commission; rate typically adjusted by 0.03% |
| Custody fee | None charged by IBKR |
| Account minimum, platform fee | None, per the pricing page |
| Withdrawals | Two free withdrawal requests a calendar month, then a fee by currency and method |
Notes on the table:
- Fractional US shares are charged the greater of 1% of the trade value or US$0.01 on Pro pricing.
- Withdrawals: IBKR’s other-fees page allows two free withdrawal requests per calendar month (counted on New York time), with later ones charged (for Singapore dollars, S$1 to S$15 depending on the method). Your own bank or a correspondent bank may add charges.
- IBKR Lite has rules on order types and trading hours. Read the footnotes on the pricing page.
We did not find an inactivity fee on the pages we checked.
The short version: IBKR is hard to beat on published currency conversion cost and has no custody fee. Its S$2.50 minimum makes small SGX orders dearer than at the app brokers, and it does not support CPF or SRS.
What a Year of Monthly Buying Costs
Our example: US$2,000 of a US-listed ETF and S$2,000 of an SGX-listed share, once a month for 12 months. We assume a US$100 ETF price, so 20 shares an order. Fees only. Returns are not part of this illustration.
US order on IBKR Lite: US$0 commission. Nothing for 12 orders.
US order on IBKR Pro Fixed: 20 shares at US$0.005 is US$0.10, so the US$1 minimum applies. With GST that is about US$1.09 an order, or roughly US$13.10 a year.
Currency conversion: converting manually each month costs the US$2 minimum each time, about US$24 a year before GST. The automatic route at 0.03% costs about US$0.60 on US$2,000, or US$7.20 a year. Converting once a quarter in a single manual order costs US$8 a year.
SGX order: 0.08% of S$2,000 is S$1.60, so the S$2.50 minimum applies. With GST, about S$2.73 an order, or roughly S$32.70 a year. Above S$3,125 an order, the 0.08% rate takes over.
Put together, the Lite route costs about US$7 to US$24 a year in conversion plus S$33 for the Singapore leg. On roughly S$56,000 invested over the year, that is under 0.1%.
Funding, CPF and SRS
You fund the account by bank transfer in Singapore dollars, then convert inside the account when you want US dollars or another currency. IBKR’s site says it does not accept cash deposits.
IBKR is a cash-only route. We found no facility for CPF Investment Scheme or SRS money. If that is what you plan to invest, read our CPF Investment Scheme explainer and SRS guide, then compare brokers and fund platforms that do support them.
Drawbacks and Alternatives
- It is harder to learn. The account has more settings, order types and reports than a beginner needs. Mistakes such as choosing the wrong order type or currency are easier to make.
- Small SGX orders cost more. A S$500 purchase pays the S$2.50 minimum, which is 0.5% before GST.
- No CDP, CPF or SRS.
- Margin and derivatives are built in. IBKR’s own notice warns that the risk of loss in trading stocks, options, futures and currencies can be substantial. CFDs, margin loans and options can lose more than you put in. A cash account avoids borrowing.
- Support is not local-branch style. There is no walk-in investor centre.
Who Interactive Brokers does not suit
It does not suit someone who wants shares in a CDP account, someone investing CPF or SRS savings, or a first-time investor who wants a simple screen and a small monthly SGX purchase. If you want a managed portfolio, a broker of any kind is the wrong tool.
Alternatives to compare
- Webull and moomoo have simpler apps and lower SGX minimums.
- Saxo offers a similar range of markets with a different fee structure.
- POEMS offers a CDP-linked account and trading representatives.
- Endowus supports CPF and SRS investing in funds.
Our guides to the best brokers for US stocks and the best investment platforms in Singapore compare these on stated measures.
What To Do Next
- Check the entity in the MAS Financial Institutions Directory.
- Decide between Lite and Pro by reading the footnotes on IBKR’s commission page, not the headline.
- Plan how you will convert currency. One larger conversion can cost less than many small ones.
- Run your expected contributions through our compound interest calculator, with a lower return to stress-test the plan.
