How To Choose Option Trading Broker in Singapore? (Beginner's Guide)

Last Updated on 2 years ago by Antony C.

Not sure how to choose the best brokerage for option trading? As an investor myself, I’ve tested and used many brokerage through my decades of investing and some are pretty good, while others you may just want to avoid at all cost.

Choose the wrong brokerage to get started can make you loss thousands of dollars, because of a careless mistake, or simply due to high trading fees.

And to save you time, our picks for best brokerages to trade options in Singapore is:

Moomoo Stock Market Trading Platform — Moomoo Singapore

★★★★★

BEST FOR: Beginner Retail Investors and Professional Traders Looking For All-In-One Trading App to Invest in SG, US, HK and China.

GET STARTED

securely through Moomoo’s website

Among the +20 brokerages I’ve tested and reviewed, I think Moomoo stand out with their low fees, powerful comprehensive tools, real-time data and customizable user-friendly interface that cater to both beginners and experienced traders.

But you should learn how to choose your brokerage for yourself, thus below I will show you step-by-step to choose your brokerage.

How we buddies test out each trading platforms?

The star ratings represent the broker’s overall score. Our reviewers are investors who does hands-on test or in-depth review on each brokerage in our analysis. This way, we’re able to report on every aspect of the user experience, from funding a new account to actually placing trades. A trading platform may score highly for the features it offers, but low for their user experience, both are factored into the broker’s overall score giving a non-bias scoring for each broker. Read more about our rating methodology for brokers.

Comparison Criteria Considered:

User Interface: Intuitive design with clear layout.
Available Markets and Investment Options: Local and international coverage with various asset classes.
Features, Tools and Resources: Analytical tools, advanced charting, financial news accessibility and education resources.
Trading Options: Various order types, margin trading availability.
Mobile App Functionality: Essential features, seamless synchronization.
Fees and Costs: Competitive rates, transparent fee structure.
Customer Support: Accessible channels, prompt assistance.
Security Measures: Strong encryption, regulatory compliance.
User Reviews and Ratings: Positive feedback, high ratings from real users.

Brokerage Reviewed & Analyzed

Driven by data, run by investors with real-world experience investing with our own money.

We’re supported by readers who buy via links on our site. While this may influence which products we write, it will not influence our opinions and evaluation. Learn more.

Disclaimer: All views expressed in the article are independent opinion of the author, based on my own trading and investing experience. Neither the companies mentioned or its affiliates shall be liable for the content of the information provided. The information was accurate to the best knowledge of the author. This advertisement has not been reviewed by the Monetary Authority of Singapore. * T&C Applies

How To Choose The Best Option Trading Platform In Singapore?

Options Trading Platform - Moomoo Singapore Interface — Moomoo Options Trading Platform Screenshot

Selecting the right options trading platform in Singapore is crucial for your investment strategy.

Impacts your overall trading experience
Determines the amount of fees you’ll need to pay for each trade
Access to the risk management tools available to you.

For most top brokerage, they even offers trading App which let you trade on-the-go. Here is how you should choose the best brokerage for your option trading.

1. Brokerage Licensed by MAS

Your chosen platform should be registered with and recognized by the Monetary Authority of Singapore (MAS).

This ensures adherence to regulations and provides a safeguard for your investments. Opening a brokerage account with MAS-regulated brokerages such as familiar names like Moomoo, Webull, and Tiger Brokers helps to ensure you are protected when you trade.

2. Low Fees for Trading Options

If you’ve been reading my other articles, you’ve observed that I am a huge fan of low fees brokerage because that ever dollar counts when you are investing.

You’ll want to assess the cost-effectiveness of the platform by checking commission fees and other related costs.

Look for competitive rates and consider any promotions like zero commission periods. Remember, fees can eat into your returns, so it’s wise to seek out options with lower costs.

Stock Brokerage	Options Trading Rating	Commission Fee	Platform Fee	Available Stock Market
Moomoo	☆ 4.6 / 5.0	SG: 0.03% of trade value, Min. SGD 0.99 per order US: USD 0.65 per contract, Min. USD 1.99 per order HK: 0.03% of trade value, Min. HKD 3.00 per order	SG: 0.03% of trade value, Min. SGD 1.50 per order US: USD 0.30 per contract, Min. USD 0.99 per order HK: HKD 15.00 per order	SG, US and HK Stocks Options
Longbridge	☆ 4.6 / 5.0	SG: 0.03% of trade value, Min. SGD 0.99 per order	SG: 0.03% of trade value, Min. SGD 0.99 per order	SG, US and HK Stocks Options
Webull	☆ 4.6 / 5.0	US: USD 0.55 per contract	US: USD 0.00 per contract*	US Stock Options
Tiger Brokers	☆ 4.3 / 5.0	US: USD 0.65 per contract (Min. USD 1.99 per order) HK: 0.2% of trade value (Min. HKD 3.00 per order)	US: USD 0.30 per contract (Min. USD 1.00 per order) HK: HKD 15.00 per order	US and HK Stocks Options
Interactive Brokers	☆ 4.0 / 5.0	SG: SGD 5.00 per contract US: USD 0.65 per contract, Min. USD 1.00 per order HK: HKD 0.2% option value + HKD 3.00 per contract, Min. 18.00 per order	–	SG, US, HK, UK, JP, AUS, IND etc. Stocks Options
uSmart	☆ 3.8 / 5.0	US: USD 0.20 per contract, No Minimum*	US: USD 0.30 per contract No Minimum*	SG, US, HK
POEMS	☆ 3.3 / 5.0	US: USD 0.88 per contract	US: USD 2.88 per order	US Stock Options

Note: Data are consolidated, checked for accuracy and ensure outmost reliability by the Author through hours of research into each of the brokerage platforms, the author aims to provide the most accurate data by following strictly according to our editorial guidelines but always do your own due diligence before investing.

3. Trading Platform Ease-of-Use for Options Trading

A good platform will offer a balance between sophisticated analytics and user-friendly interface.

In today’s context, it is almost a must-have for the online trading platform to offer a trading App where we can do all our trade on-the-go.

We need to access the trading platform in 2 ways

Desktop Trading Platform: Offering extensive quick access to multiple features of the platform, supporting multiple screen trading options.
Trading App: Offering easy to trade on-the-go with a user-friendly trading App to do your research and make your trade.

4. Trading Features for Options Trading

Features such as intuitive navigation, customizable option chains, and real-time data directly influence your trading efficiency.

Keep an eye out for platforms that offer advanced risk assessment tools like Greek risk dimensions and those that allow for multiple options order management in a streamlined manner.

Which Brokerage Platform is Best for Options Trading?

With all criteria considered when picking the best option trading platform, here are my top picks for option trading:

Moomoo Singapore

Low Cost and Beginner Friendly For Both Beginner and Expert Option Traders

Webull Singapore

Cheapest Low Cost Options Trading For Beginners

Interactive Brokers

Multimarket International Options Trading For Professionals

POEMS

Highly Analytical Professional Traders

uSmart

Beginner friendly low cost US options trading

Tiger Brokers

Simple Strategy Basic Option Trading Platform

Option Trading Brokerage With Signup Promos

Do you want perks like, “No commission fees“, “Cashbacks“, “Free stocks“?

Many of the best option trading platforms offers some pretty good promotion and perks for new users.

Personally, I find platforms like Moomoo SG and Webull SG offers the best promotion package for new users, while offering many free perks for current users.

Promotion and perks can includes:

Promotional offers: Commission free trades, free stocks, cash rebates
High volume Traders: Lower trading fees, priority customer services, exclusive VIP events.
Ongoing Programs: Loyalty programs and referral programs.

As user of both of these platforms myself, I really love their user experience and find them to be a great trading platform for both beginner and professional traders.

Let’s take a look at some of the ongoing promotions they are having right now!

Reader’s Pick

Claim up to S$1,200* worth of Free Stocks + Trading Option Gifts + Exclusive Bonus.
Earn a return on idle cash with Moomoo Cash Plus
Low commission fee for SG & HK stocks, ETFs & options.
Lifetime $0 commission free* for US stocks.

Learn ➜

Moomoo Promo: Low Commission + Free Stock

Fast Growing

Claim up to SGD$280 Worth of Free Shares + Trading Vouchers when you sign up a new account here.
$0 commission free for US,HK & A-Share stocks, ETFs, and options.
Low commission fee for SG stocks, ETFs, mutual funds and options.

Learn➜

Webull Promo: Low Commission + Free Stock

Frequent Asked Questions

How do I know which broker to choose?

When choosing your broker, you’ll need to first know what is your financial goals and investing styles.
1. Evaluate the account features that you will need.
2. Evaluate the account fees and requirements to apply for the brokerage.
3. Evaluate the markets access for your account and the different account amenities.
4. Check if the brokerage is regulated by authorities such as MAS to ensure account security and protection.
5. Check reviews about the platform and test the online brokerage platform
6. Depositing a small amount and try making a few small trades and test the withdrawal feature from the platform.
7. Compare with other alternative and choose the one you find it easier to use and navigate.

How do you know if a broker is good for your options trading?

Before opening an account with any broker, do a quick research on the the broker’s reputation as this can give you insights into their reliability and trustworthiness. Look for online reviews on various platforms such as financial blogs, forums, social media, and trading websites. Make sure the trading platform is MAS regulated and have the relevant licenses to perform trading.

What is the cheapest broker to trade options in Singapore?

Best low-cost options trading broker in Singapore are Moomoo, Webull and uSmart. Unlike many other brokerage platforms, these platforms offers low cost option contract trades making it possible for low value contract trades.

How to do option trading in Singapore?

Start by finding a licensed broker that is regulated by MAS as you want to make sure your account is safe and secure.
1. Evaluate the different brokerage that offers option trading.
2. Register and open an account with Singpass.
3. Apply for access to “High Risk” equities such as Options and complete the form. (Do take not of the risk before you apply)
4. Make a deposit of the amount you want to use for trading.
5. Choose an options trading strategy that suits you the most.
6. Monitor your options’ performance.
7. Ensure you have sufficient funds for your option trading.

Disclaimer: The information on this page is for your convenience only. By accessing this website you’ve agree on our T&C. We do not offer tax or investing advisory or brokerage services, nor do we recommend or advise anyone to buy or sell particular stocks, securities or other investments.

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Antony C.

Founder & Financial Writer at Income Buddies | Website | Posts by Author

Antony C. is a Singaporean dividend investor focused on building passive income through REITs, ETFs, and Dividend Stocks. With 15+ years of experience investing in Singapore, Hong Kong, and China markets, he founded IncomeBuddies.com to share practical wealth-building strategies tested in his own portfolio since 2008. His expertise has been featured in Yahoo Finance, Nasdaq, and NFAA, and he’s the published book author of "Start Small, Dream Big".

How To Choose Option Trading Broker in Singapore? (Beginner’s Guide)