Competition for the retail investor dollar heats up as online brokers pull out all the stops to capture a bigger slice of the pie.
Minimum commission fees for trading United States stocks have also been cut by 50 per cent to US$1 , while the minimum fees for trading Singapore securities are $3. The competitive retail investing market in Singapore saw its first major casualty when TD Ameritrade decided to bow out from the space in December 2023.
Webull expanded its business into Singapore on Jan 31, allowing retail investors to access more than 700 stocks, real estate investment trusts and exchange traded funds on the Singapore Exchange. CEO Ian Leong said the card allows the firm to expand into lifestyle offerings. “We are trying to make the investment and lifestyle journey as seamless as possible.”Tiger clients invest funds in their accounts into stocks and other products while spending excess cash “with a tap” of the debit card.