Comparison of SGX REIT Broker Fees: Which Broker is Cheapest?

Broker fees for SGX-listed REITs cover commission on each trade and possible custody charges for holding the units. As of 2026, a S$5,000 REIT purchase can cost anywhere from just S$1.50 to over S$25 in brokerage fees alone, depending on the platform you choose. For income-focused investors who build positions through regular small trades, picking the right broker directly affects net returns.

Understanding Broker Fee Structures for SGX REITs

Singapore REIT trades fall into two settlement models. CDP-linked accounts (e.g., DBS Vickers Cash Upfront, OCBC Securities) settle trades directly into your Central Depository account. There is no monthly custody fee — you only pay a one‑time commission per trade. Custodian accounts (e.g., Tiger Brokers, moomoo, Interactive Brokers) hold the shares under the broker’s name. Many custodians charge zero custody fees for SGX stocks, but some traditional players levy S$2.14 per counter per month if you do not trade at least twice per quarter. Always check the fee schedule before parking a REIT portfolio long‑term.

Commission Rates Compared: Minimums Matter Most

REIT investors often accumulate in lots of S$1,000–S$10,000, so the minimum commission floor becomes the dominant cost factor. A 0.08% rate sounds cheap, but if the minimum is S$10, you pay S$10 even on a S$1,000 trade. Below are current 2026 commission rates for online trades (cash upfront where available) and their minimums, covering both CDP and custodian brokers.

Broker	Commission Rate	Minimum Comm. per Trade	Settlement Type
moomoo SG	0.03%	S$1.50	Custodian
Tiger Brokers	0.08%	S$1.88	Custodian
Interactive Brokers	0.08%	S$2.50	Custodian
Saxo Markets	0.08%	S$5.00	Custodian
DBS Vickers (Cash Upfront)	0.12%	S$10.00	CDP
POEMS Cash Plus	0.18%	S$10.00	CDP
OCBC Securities (Cash Upfront)	0.15%	S$12.00	CDP
Lim & Tan (Cash Upfront)	0.18%	S$18.00	CDP

The minimum commission drops as low as S$1.50 with moomoo, while traditional cash upfront accounts start at S$10. For REIT regular savings plans, that gap compounds rapidly.

Real‑World Cost for a S$5,000 REIT Purchase

Plugging a S$5,000 buy order into the fee formula reveals the true difference. Brokers charge the higher of their percentage rate and the minimum:

• moomoo: 0.03% × S$5,000 = S$1.50 → S$1.50
• Tiger Brokers: 0.08% × S$5,000 = S$4.00 → S$4.00 (above S$1.88 floor)
• Interactive Brokers: 0.08% × S$5,000 = S$4.00 → S$4.00
• DBS Vickers Cash Upfront: 0.12% × S$5,000 = S$6.00, but min S$10 → S$10.00
• POEMS Cash Plus: 0.18% × S$5,000 = S$9.00, min S$10 → S$10.00
• Lim & Tan Cash Upfront: 0.18% = S$9.00, min S$18 → S$18.00

Moomoo costs 85% less than the cheapest CDP broker. Over 24 monthly purchases, the fee difference between moomoo (S$36) and Lim & Tan (S$432) is nearly S$400 — enough to buy more REIT units.

Custody Fees: The Hidden Cost for REIT Portfolios

Many investors hold REITs untouched for years to collect dividends. CDP accounts carry zero recurring fees, making them ideal for buy‑and‑hold portfolios. Custodian brokers often match that: moomoo, Tiger, IBKR and Saxo all charge no custody fees for SGX‑listed securities. The risk exists with some legacy custodians. For instance, OCBC Securities’ custodian plan applies a S$2.14 per‑counter monthly charge unless you execute two trades per quarter. If you own five different REITs, that could quietly drain S$128 per year.

Which Broker Is Cheapest for Different Trade Sizes?

Small‑lot REIT buying benefits from ultra‑low minimums. Below is the total fee for three common investment amounts.

Trade Size	moomoo	Tiger	IBKR	DBS Vickers (Cash Upfront)
S$1,000	S$1.50	S$1.88	S$2.50	S$10.00
S$5,000	S$1.50	S$4.00	S$4.00	S$10.00
S$10,000	S$3.00	S$8.00	S$8.00	S$12.00

Moomoo dominates up to S$5,000, where its minimum floor applies; beyond that, 0.03% still beats all competitors. Tiger and IBKR tie above S$2,350 (Tiger’s minimum crossover point), while CDP brokers carry higher fixed floors. For a single S$20,000 REIT purchase, moomoo charges S$6, IBKR S$16, and DBS Vickers S$24 — a 4x spread.

Important Considerations Beyond Fees

Execution speed, corporate action handling, and dividend crediting differ across platforms. CDP brokers give you direct share ownership under your name and automatically credit dividends to your linked bank account, which some income investors prefer. Custodian brokers held under a MAS‑regulated nominee structure offer equivalent investor protection, though dividends may appear one to two business days later. If you plan to trade REITs frequently, the S$1.50 per‑trade cost of moomoo or IBKR’s tight spreads can outweigh any CDP advantage. For a buy‑and‑hold REIT portfolio of S$50,000, a one‑time S$10 CDP trade fee is negligible compared with ongoing yield.

FAQ

What’s the cheapest broker for buying S$500 worth of SGX REITs?
Moomoo charges a flat S$1.50 on any order, so a S$500 trade incurs a S$1.50 fee — 0.3% of the principal. Tiger Brokers charges S$1.88 and Interactive Brokers S$2.50. A traditional cash upfront account like DBS Vickers would levy S$10, eating 2% of your capital.

Do custodian accounts charge annual fees for holding REITs?
For SGX stocks, Tiger Brokers, moomoo, and Interactive Brokers impose zero custody fees. Some legacy custodians, like OCBC Securities’ custodian plan, charge S$2.14 per counter per month unless you execute two trades per quarter. CDP settlement through cash upfront accounts is always free.

Is it cheaper to use a cash upfront account or a regular trading account for REITs?
Cash upfront accounts almost always halve the minimum commission. DBS Vickers cash upfront charges 0.12% with a S$10 floor, while its standard online account uses a S$25 floor. On a S$3,000 REIT trade, that saves S$13 — a 52% fee reduction.

This article does not constitute financial advice.