Best Investment Apps for Singapore

MoneyMate
Updated:
Best Investment Apps for Singapore

These days, you don’t need a financial advisor or a stockbroker to manage your investments — or even a computer.

With your mobile phone, you can now use investment apps to buy and sell stocks, mutual funds, and exchange-traded funds (ETFs).

There are robo-advisor apps that help you automatically invest based on your goals. Others provide research tools and detailed reports so you stay informed. Some apps even allow you to track accounts from multiple financial institutions all on one platform.

The plethora of apps makes it easy for anyone to invest, from seasoned financiers to greenhorns who want to dip their toes into investing.

We’ll go through our recommendations on the best investment apps in Singapore (and why we think so).

What to Look Out For in a Trading App

Trading platform apps allow you to buy and sell equities and monitor different accounts. The best trading platforms:

  1. Are easy to use. You should be able to make or close a trade immediately or access charts without having to go through much tedium.
  2. Display real-time charts and data. Certain equity prices can jump quite a bit from one day to the next — or even within the span of a few minutes. You need up-to-date data to make good buying and selling decisions.
  3. Host plenty of educational and research materials. It’s hard to consistently make a profit without doing your due diligence.
  4. Execute your trades with little to no lag time. You don’t want to put in your order only to find out that you missed out on profits (or made an unnecessary loss) because your app was too slow to push your order through.
  5. Allow you to set advanced orders such as conditional or limit orders. This gives you the option to place orders when certain triggers are met (e.g. when a stock price drops below a certain amount).

Top 3 Trading Apps

Recommendation #1: Tiger Trade

Tiger Trade is the official app for Tiger Brokers, an online brokerage backed by Xiaomi and listed on the NASDAQ. Tiger Trade gives customers access to global markets, including Singapore, the US, Hong Kong, China and Australia. Investors can access stocks, ETFs, REITs, options, warrants, futures, funds and more on Tiger’s platform. 

You can make trades directly via the Tiger Trade app. The mobile platform comes with useful features to support your trading, such as analysis and insights, watchlists, real-time stock quotes, as well as market news and developing trends. 

Commission fees1: 0.04% per trade on SG stocks. USD0.005/share for US stocks.

Account minimum: None, but there are incentives to make initial deposits above a certain amount (see perks)

Available on: iOS, Android

Perks:

  • Free 1x Apple share and 5x Xiaomi shares (worth ~S$200) when you register and make an initial deposit of S$2,000 by 30 June
  • Free 1x Amazon share (worth ~S$4,600) when you register and make an initial deposit of S$300,000 by 30 June, 2021
  • 60 commission-free trades in US, HK, Singapore, and Futures markets for the first 180 days

Who is it for: If you’re looking to trade both the Singapore and US markets at competitive commission rates, Tiger Trade is it. With their generous sign-up promotions, Tiger Trade attracts both new traders as well as seasoned traders executing a large number of orders.

Recommendation #2: SaxoTraderGo

SaxoTraderGo is Saxo Markets’ main investment app. Saxo offers account holders one of the largest ranges of trading instruments, from bonds and stocks to advanced products such as forex and CFDs.

With the mobile app, account holders have access to a research hub that provides analysis and educational content. Apart from its fuss-free access to international markets, SaxoTraderGo’s fees are also competitive.

Commission fees2: 0.04% – 0.06% on US stocks, with a minimum of US$4 and maximum of US$100. 0.08% on SG stocks with a minimum of S$5.

Account minimum: S$3,000. Saxo has three tiers of S$3,000, S$300,000, and S$1,500,000. The bigger your initial deposit, the bigger the discount you get on trades.

Available on: iOS, Android

Perks: No commission fees on US stocks until 3 September 2021.

Who is it for: The knowledgeable investor who wants access to international markets and leveraged instruments.

Recommendation #3: moomoo

moomoo is a subsidiary of NASDAQ-listed Futu Holdings, a company backed by Tencent. It currently charges lower fees than Tiger Brokers and offers access to the US, Hong Kong, and Singapore markets.

The trading platform only entered the Singapore market in March 2021, so Tiger Trade is more mature in its features and customer service at the moment.

Commission fees3: US$0.0049/share on US stocks, ETFs, and ADRs. 0.03% with a minimum of S$0.99 on Singapore stocks, ETFs, and REITs (waived during the first 600 days of account opening)

Account minimum: S$2,700 if you want the free Apple share, but no minimum otherwise.

Available on: iOS, Android

Perks: Free Apple, Nio, and Twitter stocks (provided you fulfill all the conditions)

Who is it for: Younger investors who are looking for a low-cost platform to start learning about trading.

Top 3 Robo-Advisor Apps

Robo advisors are automatic investment services driven by an algorithm. Robo advisors can handle and maintain your personal investment portfolio, understand your financial goals and risk appetites.

Recommendation #1: StashAway 

StashAway is one of Singapore’s first robo-advisors. It uses an intelligent investment framework to pair personalised wealth management and financial planning. You can use either cash or SRS funds with StashAway.

When configuring your new portfolio, you’ll select an investment goal (for example, saving for retirement or a new house). Each goal will have its own portfolio, and the algorithm will automatically select best-in-class ETFs (essentially a basket of many different stocks) to invest in for you.

Like most robo-advisors however, you cannot buy or sell stocks or ETFs yourself. Instead, you can change your Risk Index Score at any time if you want a different set of ETFs.

You’ll also have access to a plethora of personal finance and investing resources within the StashAway app. These resources are free and categorised by level (Basic, Intermediate, Advanced) so you can grow your investing knowledge along with your portfolio.

Annual fees4: 0.8% – 0.2% (lower fees the more you invest)

Account minimum: None

Available on: iOS, Android

Perks: Refer a friend and you’ll both get S$10,000 managed for free for 6 months after your friend makes a transfer.

Who is it for: New investors looking to start small. It also allows you to set up multiple portfolios within the same account if you have many goals.

Recommendation #2: Syfe

Robo-advisor Syfe offers auto-wealth generation and passive investing through its personalised portfolios. During the registration process, you’ll answer a few questions that will help the platform automatically create a portfolio based on your risk profile and goals.

Verification is easy through SingPass, and you can transfer funds to Syfe for free via PayNow, FAST, and TT. Syfe will then invest your funds for you and give you regular reports on your investments. You can also speak to a Syfe wealth expert if you want more details or personalised advice.

The difference between Syfe and StashAway is that Syfe requires a little bit more learning upfront. StashAway configures your portfolio for you based on your goals. However, you’ll have to select your preferred Syfe portfolio after thinking about your desired returns, timeframe, and risk profile.

Annual fees5: 0.65% – 0.4% with three tiers of Blue, Black, and Gold

Account minimum: None

Available on: iOS, Android

Perks: Get a fee waiver for the first six months with code SYFEWAIVER.

Who is it for: New investors looking for lower starting fees than StashAway. 

Recommendation #3: DBS digiPortfolio.

This is one of the most convenient options for Singaporeans who already have DBS accounts. It’s a low-risk investment platform that only requires a minimum deposit of SGD$1,000 and allows you to choose between Asian and global portfolios of Exchange Traded Funds (ETFs) with quarterly rebalancing.

It’s geared towards beginners as it features a ready-made investment portfolio based on 17 years of experience within the DBS Investment Team.

If you still feel uncertain, you can set your risk level to your desired amount and you’ll get a projection of how your investment will grow over time.

The app also uses AI to automate processes like rebalancing and monitoring. The combination of human expertise and machines means you’ll get one of the smoothest investing experiences possible.

The downside is its flat management fee of 0.75% — unlike with Syfe and StashAway, you won’t get lower fees the more you invest. The DBS digiPortfolio also requires a minimum deposit.

Annual fees: 0.75%

Account minimum: S$1,000

Available on: iOS, Android

Perks: None

Who is it for: New investors who want a convenient investing option linked to their DBS bank accounts.

Bonus: Investment Portfolio Trackers and Research Tools

These aren’t strictly investment apps: they’re more like aids. Portfolio trackers enable you to manage all of your portfolios in one place, while research tools share breaking market news and trends to empower you to make your own investment choices.

1. SGX Mobile

This app is best for those who want to keep up to date with local market conditions. Investors get notifications of any company announcements by SGX-listed companies as well as live market data, so they can quickly act if they feel their investments are at risk.

Investors can create a Favourites list of stocks and set up notifications for specific indices when they rise or fall to certain prices. The app also provides information on the STI and the top five advancers and decliners in real-time, so investors get a quick overview of the market at one glance.

App features:

  • Market data, announcements, and news from SGX-listed companies
  • Comprehensive STI report, along with top 5 advancers/decliners
  • Live prices for stocks and indices
  • Customisable watch list with price alerts

Who is it for: Investors primarily focused on the Singapore stock market.

2. Bloomberg

Out of all the apps in this list, Bloomberg has the most comprehensive access to global business, stock market, and financial news. It’s the preferred choice of many in the finance industry. The app is customisable and allows you to monitor your personal portfolio and receive continuous alerts and summarised reports on international stock positions.

It offers valuable features like the watchlist, allowing investors to track their portfolios by adding stocks they’ve invested in to the list. You can even add custom alerts to stocks you’re interested in, so you won’t have tunnel vision when it comes to future investments.

App features:

  • Receive global market news and updates
  • Live stock quotes
  • Personal portfolio tracker
  • Free viewing of Bloomberg TV Live

Who is it for: Investors looking for high-quality real-time market data, news, and analytics (and willing to pay a subscription fee for it).

3. Yahoo Finance

Yahoo Finance is similar to Bloomberg in many aspects. However, it has a few features Bloomberg doesn’t. With Yahoo Finance, you gain access to interactive full-screen charts you can use to compare the performance of various stocks you bought. At one glance, you can check out in-depth information like the financial highlights of a company, analyst targets, and valuation metrics.

You’ll find the usual features like personalised news and stock alerts as well. 

App features:

  • Free to use
  • Track performance of your personalised stock portfolio
  • Real-time quotes and personalised news.
  • Track holdings performance

Who is it for: Investors looking for a budget, non-paywalled option to keep track of their portfolio and market updates.

4. InvestingNote

InvestingNote is a social network for Singaporean investors to share, learn, and connect with fellow investors.

It offers many of the same features as its competitors, like a personalised watchlist and a portfolio to track performance. Where the app differs is its focus on being a social media site.

In a way, it’s like Linkedin for investing. Professional and retail investors come together to share investment ideas, analysis, and other suggestions. Investors can gain a “reputation” and improve how they rank on the site depending on the quality of their responses and their stock picks.

The app is currently available on iOS and Android in the following countries: Singapore, Hong Kong, Thailand, Malaysia, Indonesia, Australia, and the US.

App features: 

  • A social network for investors
  • Live stock prices, news updates, and announcements
  • Investing ideas and tips from experienced investors 
  • Free charting tools

Who is it for: Beginners who want to learn more.

Picking the Best Investment App for You

Choosing the right investing app is a personal decision. Only you know what you’ll need from the app, so take your time to decide on one. Try not to use more than a few apps at once, or it might become challenging to monitor multiple portfolios from your phone. Remember: investment apps are supposed to make your life easier, not harder!