What you should look out for in your online broker

In an period of a number of on-line brokerage platforms, which must you select?

We’ve come a good distance since within the final decade – investing has turn into much more accessible, particularly given the launch of on-line brokerages shaking up the scene with their low to zero commissions, free entry to charting instruments, market depth information, and extra.

With newer and completely different welcome presents being launched nearly each different month, it may be understandably exhausting for novices to resolve which brokerage you must go together with.

As somebody who has used and tried out a number of platforms, right here’s my finest recommendations on what you must look out for (and what I’d say to a youthful model of myself):

1. Simple to make use of

If by now, your dealer doesn’t have an app model of its interface, then it’s wayyy behind the instances (and you must most likely fireplace them, lol).

Search for a brokerage with a straightforward and easy person interface. I can’t emphasize this sufficient, given how complicated it may be to navigate the buttons on another platforms.

You don’t need to find yourself making costly errors equivalent to the place you thought you had clicked to purchase, solely to understand a lot in a while that you just had executed a brief promote as a substitute! True story – this occurred to quite a lot of us who began out with extra complicated platforms.

Ideally, attempt to go for a brokerage platform that lets you view solely what you need and prioritize (or not less than, toggle round in order that solely what you need reveals up on high). In any case, as a newbie, it’s straightforward to get overwhelmed once you’re introduced with too many instruments and devices abruptly. You’d need to have the power to “disguise” the features that you just don’t usually use in order to scale back pointless data or noise.

The newest Tiger Brokers app (model 8.0) lets you personalize your Homepage and Inventory Element web page primarily based by yourself funding stage or buying and selling habits!


In my case, I personalized my homepage to indicate my Watchlist, Portfolio and the Newest Information. This enables me to identify alternatives within the shares that I’m eyeing, take a look at my portfolio efficiency and in addition rapidly flick through the newest and related information – all whereas I’m on the go.

2. Liquidity of funding

Whereas ready for a possibility to behave, some traders hold their warchest in different devices (such because the Singapore Financial savings Bonds), whereas others park it of their on-line brokerage (incomes anyplace between 0% – beneath 2% p.a.) for comfort.

No matter your desire, it pays to search for a brokerage that has varied funding choices that can assist you to get your funds out and in rapidly sufficient. In any case, the very last thing you’d need is having your funds caught once you want them most.

My favorite choose for this needs to be Tiger Brokers, as they’ve a direct reference to DBS such that I can actually obtain funds in beneath a minute! You have to to hyperlink your DBS account through the Direct Debit Authorisation (DDA) channel to be able to benefit from this.

For those who’re buying and selling US shares, search for a dealer that provides you the choice to switch USD immediately – in order that you’ll not should pay transaction and conversion charges a number of instances*.

*in any other case, the standard route can be: SGD out of your financial institution –> SGD in dealer à convert to USD in dealer for transaction –> convert USD created from your commerce again to SGD in dealer –> switch SGD again to financial institution

3. Expertise

Given the breakneck pace of how briskly fintech is shifting, all of us need a brokerage that constantly innovates and upgrades its know-how stack as properly.

That is essential to faucet on new market developments equivalent to pace of execution or information circulation.

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4. Analytical Instruments

As of late, I exploit apps to assist me do a fast basic evaluation to be able to display screen out shares which can be price trying into vs. what I need to remove, earlier than shifting on to extra in-depth analysis on my pc.

When Tiger Brokers first launched, I keep in mind how game-changing it was to lastly be capable of look by way of monetary ratios and charts to get a quick concept of the inventory potential inside minutes, whereas I used to be travelling or on-the-go.

You possibly can see how I do it here.

To trace your efficiency, you must also monitor your revenue and losses throughout each particular person shares in addition to on an general portfolio foundation. Some platforms don’t make it as clear-cut for you, warranting the necessity so that you can observe and doc every commerce on good-old Excel spreadsheets.

For those who’re on Tiger Brokers, take a look at the upgraded P&L evaluation operate in your app! Now you can see how a lot you’ve made (or misplaced) on every inventory or possibility commerce in totality, as a substitute of being restricted to seeing solely what you made on every commerce beforehand.

Investing isn’t a lone journey, as we frequently take reference from different individuals’s opinions and evaluation to be able to form our personal judgment calls.

For those who’re utilizing Tiger Brokers like I’m, there are particular accounts you may observe to study extra, and even get first dibs on rewards or promotional occasions. Listed here are some that I like to recommend trying out:

• @Tiger_Academy is beneficial for brand new customers, because it comprises tutorials on app options and extra

• @TB_Research will get updates from Tiger Brokers’ analysts masking market views, financial actions and extra

• @TigerClub comprises varied interviews with consultants and fellow customers, if you wish to take a glimpse into how different individuals assume or make investments

• @TigerEvents for competitions, promotions, giveaways, and so forth

• @TigerTalks for studying conferences, programs, and so forth.

And there you might have it – 5 must-haves that you have to be looking for in your on-line brokerage earlier than signing up and depositing your cash with them.

In fact, choosing the right brokerage platform is simply step one. To study extra about how you can make investments and what to put money into, have enjoyable searching across the Investing part of this weblog!

Disclaimer: This submit is written in collaboration with Tiger Brokers.