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Fees & Charges
Types of Products Available
| Exchange | Commission (Online Trades) | Commission (Call-In Trades) |
|---|---|---|
|
China A (SZSH) |
0.08% (minimum of CNH50 per order)
|
0.18% (minimum of CNH88 per order) |
|
Hong Kong (HKEX) |
0.08% (minimum of HKD28/USD3.80/CNH23 per order)
|
0.18% (minimum of HKD88/USD11.80/CNH68 per order) |
|
Malaysia (KLSE) |
0.08% (minimum of MYR18/USD4.50 per order)
|
0.18% (minimum of MYR68/USD18 per order) |
|
Singapore (SGX) |
0.08% (no minimum per order) |
0.18% (minimum of SGD18/AUD18/GBP10/EUR12/HKD100/USD15 per order) |
|
United States (NYSE, AMEX,
NASDAQ) |
0.01% (minimum of USD3.88 per order) |
0.18% (minimum of USD18 per order) |
Exchange Fees and Other Trading Charges
| Exchange | Type | Charges |
| China A (SZSH) | Handling Fee | 0.00487% of trade value |
| Security Management Fee | 0.002% of trade value | |
| Transfer Fee | 0.003% of trade value | |
| Stamp Duty (Sell Only) | 0.100% of trade value | |
| Portfolio Fee (AUM*0.008%/365) *Portfolio Fee will be accrued daily and collected on a monthly basis in SGD equivalent | ||
| Exchange | Type | Charges | Charged By |
| Hong Kong (HKEX) | Trading Fee | 0.00565% of trade value | HKEX (Hong Kong Exchange) |
| Transaction Levy + FRC Transaction Levy | 0.00285% of trade value | SFC (Hong Kong Securities & Futures Commission) | |
| Clearing Fee | 0.002% of trade value (Min HKD2, Max HKD 100 per Order) | HKSCC (Hong Kong Exchanges & Clearing Limited) | |
| Stamp Duty | 0.13% of trade value | Government of Hongkong |
| Exchange | Type | Charges | Charged By |
| Malaysia (KLSE) | Stamp Duty | MYR1.50 for every MYR1,000 in contract value (capped at MYR 1,000 | KLSE |
| Foreign Fee | 0.03% (rounded up to nearest sen, capped at MYR1,000 per contract) | KLSE |
| Exchange | Type | Charges | Charged By |
| Singapore (SGX) | Clearing Fee | 0.0325% of trade value | SGX |
| Trading Fee | 0.0075% of trade value | SGX | |
| Settlement Instruction (SI) Fee | SGD 0.35 per counter per direction (Buy/Sell) | SGX |
| Exchange | Type | Charges | Charged By |
| Singapore (SGX) | Clearing Fee | 0.004% of trade value | SGX |
| Trading Fee | 0.001% of trade value | SGX | |
| Settlement Instruction (SI) Fee | SGD 0.35 per counter per direction (Buy/Sell) | SGX |
Exchange | Type | Charges | Charged By |
United States | SEC Membership Fee (Sell only) | 0.00278% of trade value | SEC (U.S. Securities and Exchange Commission) |
Trading Activity Fee (Sell only) | USD0.000166 per share, max USD8.30 | FINRA (Financial Industry Regulatory Authority) | |
ADR (American Depositary Receipt) Fee | USD0.01 – 0.05 per share | DTCC (U.S. Depository Trust & Clearing Corporation) |
Note: ADR fees are charged by the DTCC. These are service fees charged periodically to compensate the agent bank for the provision of custodial services. More details on any such fees should be available on the ADR prospectus.
Click here to view the Product Information Sheet for Stocks & ETFs.
Click here to view the Stocks FAQ.
| platform | Forex | precious metal |
|---|---|---|
|
Phillip MetaTrader 5 |
No commission charges |
No commission charges |
|
Phillip Nova 2.0 |
US$8 per lot commission charge |
US$8 per lot commission charge |
In Forex trading, there is another element known as swap, or commonly known as the interest differential between 2 currencies. At the end of every trading day, open positions in your account will be subjected to a swap fee.
If a client is buying a currency of higher interest rate than that of the one he is selling, he will gain swap points (or earn interest), and vice versa.
You may receive or pay swap depending on the currency pair held and the direction of your position. The swap fee is a function of an interest rate differential between the two currency pairs.
Example of Swap Fee
You go long on 3 lots of USDJPY at 142.730 and hold the position past the trading day. The buy swap rate for USDJPY is determined to be 11.2.
Swap Fee = Buy/Sell Swap Rate * Tick Size * Contract Size
= 11.2 * 0.001 * 300,000 = 3360¥
The swap fee is displayed into the “swap” field of the MT5 trading platform in its USD equivalent amount.
The spread is the difference between the bid (sell) price and the ask (buy) price of a financial instrument. For currency pairs quoted to 5 decimal places, a pip refers to the fourth decimal place (0.0001).
For example, if the bid price for EURUSD is 1.10500 and the ask price is 1.10506, the spread is calculated as follows:
Spread = Ask Price – Bid Price
Spread = 1.10506 – 1.10500 = 0.00006 = 0.6 pips
In this example, the spread is 0.6 pips. This cost is embedded into the price when opening a position and is not charged as a separate fee.
The spread for EURUSD and other instruments is transparently displayed on the trading platforms.
Click here to view the Product Information Sheet for Forex.
Click here to view the Forex FAQ.
There are no commission charges for trading CFDs. However, at the end of each trading day, open positions in your account will be subjected to a ‘holding cost’. The holding cost can be positive or negative depending on the direction of your position and the applicable holding rate. The applicable holding rate differs across various underlying assets, and is a function of:
- Overnight financing charge (Based on benchmark rates)
- Cost of Carry adjustments
- Dividends adjustments
- Mark ups
- Hard-to-borrow cost
Formula for overnight financing charge across CFDs = nights held x (Previous Day Closing Price of instrument* x Trade Size x (Relevant benchmark rate** +/- 3%) / 360
*Previous Day Closing Price is taken from Bloomberg
**Relevant benchmark rate is determined by the currency in which the underlying instrument is denominated in
Note: The formula uses a 365-day divisor for Singapore, Hong Kong, Japan, & UK markets. For other markets, a 360-day divisor is used in the formula.
Currency | Reference Rate |
USD | SOFR Index |
EUR | ESTRON Index |
GBP | SONIA Index |
HKD | One month Hong Kong Interbank Index |
SGD | SORA Index |
AUD | Australia RBA Cash Rate Target Index |
CHF | SF0001M Index |
JPY | MUTKCALM Index |
Example of a Financing Cost
You go long 3 CFDs on the UK100 at 7310 and hold the position overnight. Previous day closing price is determined at 7340.
Overnight financing rate
= [ 7340 x (SONIA Index + Markup in %) / 360 days ] x Contract Size
= [ 7340 x (0.051 + 0.03) / 360 ] x 3 shares
= £4.95
Overnight financing charges are presented as a component of the holding costs. The amount applicable is computed, along with dividend adjustments (if any), into the “swap” field.
The spread is the difference between the bid (sell) price and the ask (buy) price of a financial instrument. This cost is embedded into the price when opening a position and is not charged as a separate fee. The spread is transparently displayed on the trading platforms.
A hard-to-borrow cost is applied to short positions initiated for Shares CFD with underlying securities that may not be readily available to transact due to factors such as low liquidity, elevated demand for borrow, heightened volatility, or regulatory restrictions
Example:
If you sold 10 contracts of a share CFD that currently has a bid price of $100.00 and an annualised hard-to-borrow cost of 10%. The daily cost for holding the position is calculated as such:
10%/365 * $100.00 = $0.027 per contract
10 contracts = $0.027 * 10 = $0.273 charged daily for this position.
Click here to view the full CFD Contract Specifications.
Click here to view the CFD FAQ.
Forex
For all fees related information, please click here.
CFDs
For all fees related information, please click here.
