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SG’s Trust Bank to launch US stocks, ETFs trading platform
Trust Bank Singapore has opened a waitlist for its upcoming trading platform for US stocks and exchange-traded funds (ETFs) within its Trust app, expanding its TrustInvest offering.
The bank will be the first in Singapore to offer fractional trading through a banking app, allowing customers to buy portions of shares rather than whole units.
A waitlist for the new service opens on October 15, with customers expected to gain access in the coming weeks.
Trust Bank, a digital bank based in Singapore, introduced TrustInvest earlier this year to provide investment options via its app.
The new platform will enable customers to trade US stocks and ETFs directly, without using multiple platforms.
Fractional trading will give customers the option to start investing with smaller amounts, as some stocks cost more than S$500 per share.
The bank said customers need a Trust savings account to join the waitlist, and will be assessed for eligibility when applying for a trading account.
🔗 Source: Trust Bank Singapore
🧠 Food for thought
Implications, context, and why it matters.
Trust’s fractional trading faces steep fee competition from established brokers
- Trust Bank plans to be Singapore’s first banking app with fractional trading (buying less than one share) in US stocks and exchange-traded funds (ETFs). The announcement leaves out pricing that decides real value.
- Syfe Brokerage, a Singapore-based online broker, already offers fractional orders with no extra fees plus free monthly trades 123. Interactive Brokers, a US-based global brokerage popular with active traders, offers fractional access to US, Canadian and European markets 123.
- Singapore investors face costs beyond commission 4. Costs include a 30% withholding tax on US dividends, custodian fees (charges for safekeeping your assets), minimum commission and corporate action fees (fees for processing events like dividends or stock splits) 4.
- Trust has not disclosed terms on commissions or custody-related fees, including platform, inactivity or withdrawal charges, so shoppers cannot judge value against Webull, moomoo or Tiger Brokers 5.
Recent Trust Bank developments
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