Enjoy transparent pricing here at Syfe. Here is a breakdown of Syfe's fees, regulatory fees, and market exchange fees where applicable:

Commission fees for the US market (outside of the free trade allowance) and all fees applicable to the SG market are subject to prevailing GST.

Syfe's all-inclusive commission fee

Commission fees are charged by Syfe at the time we receive your order. Syfe doesn't charge any custody, platform, or deposit/ withdrawal fees. Commission fees are subject to prevailing GST, where applicable.

For Syfe Trade, the commission fees will be reflected under Order History and you may click on the order for which you want to view the fee details. You can also view the commission fees in the daily Trade Confirmation and Monthly Statements. These can be accessed from your Syfe app and are also sent via email.

FX fees

In order to execute the order you may need to convert the SGD in your Trade account to USD, therefore a foreign exchange fee may apply. You may view the indicative exchange rate in the app. You will see the exchange rate under your transaction history in the app once the conversion is done.

Regulatory fees

These are fees imposed on US stock trading by regulators, the Securities Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA) which are levied on brokerage firms for engaging in stock trading.

The SEC levies a USD 8 fee for every USD 1,000,000 of principal sold, rounded to the nearest cent.

FINRA charges brokerage firms a small fee on sell orders, which is passed through to the SEC to support the costs of regulation and supervision. For stocks and ETFs, all sales are charged at a rate of USD 0.000119 per share with a minimum charge of USD 0.01 and a maximum charge of USD 5.95. This is also known as the TAF, or Trading Activity Fee.

SEC & FINRA fees only occur on the sale of a security and are equal to:

• SEC Fee = US$0.000008* traded value (minimum US$0.01)
• TAF = USD 0.000119 per share for each sale of covered equity security (minimum US$0.01, maximum of US$ 5.95)

Fees are rounded up to the nearest one cent.

For example, If you sell 1 share of Apple for USD 150, the fee would be:

SEC fee: USD 150 * USD 8 / USD 1,000,000 = USD 0.0012 rounded up to minimum fee of USD 0.01

TAF fee: USD 0.000119 * 1 share = USD 0.000119 rounded up to minimum fee of USD 0.01

The total would be USD 0.02.

Please note that the SEC and FINRA Trading Activity Fee (TAF) are regulatory fees charged only on sell trades on US-listed securities. These fees are computed based on the daily consolidated sell trades and automatically debited from your buying power at the end of the trading day.

Regulatory fees charged to your sell trades will be reflected in your monthly statement. 

ADR fees

ADR (American Depository Receipts) represents publicly tradable shares of non-U.S. companies. According to the SEC, an ADR depository bank may be authorised under the deposit agreement to charge a depository service fee for the work it performs on the ADR. The SEC approved the DTC (Depository Trust Company) to collect ADR fees from ADR holders non-periodically on behalf of the ADR depository banks.

The amount of ADR fees and the dates  on when these charges will be incurred for each ADR may differ. ADR fees are disclosed on the website of each ADR’s custodian banks or the official website of the SEC. Most but not all ADRs in the market are managed by four custodian banks, namely Deutsche Bank, JPMorgan Chase Bank, Citibank and Bank of New York Mellon. Investors can log on to the websites of the above four banks and enter the stock code for ADR fees’ inquires. Investors can also visit the EDGAR company search tool to view the specific ADR fees’ descriptions.

These ADR fees are directly charged to the client accounts depending on the frequency determined by the depository agent banks. You will be able to view the ADR fees charge in the monthly statements.

Corporate Action fees relating to ADR

ADRs are maintained by depositary agents and when a corporate action takes place, these depositary agents will charge a fee. Executing partners will then pass on these fees to the clients that hold on to the ADR. The amount of fees charge depends on the corporate action event and it is determined by the depositary agents.

SGX trading and clearing fees

SGX charges trading access and clearing fees for trades executed on the SGX. SGX trading access fees are 0.0075% of the traded value and SGX clearing fees are 0.0325% of the traded value. These fees only apply to trades on SG-listed securities.

SGX CDP custody fee

For customers who trade and hold positions in Singapore Exchange (SGX) counters, Syfe hold these assets in the Central Depository (CDP). SGX / CDP charge the following fees on the maintenance of securities accounts: 

Sum of Securities value per sub-account 

• First S$0 to S$20M : 0.25bps per annum
• Next S$20M to S$1B: 0.15bps per annum
• Any remaining AUM above S$1B: 0.10bps per annum

And subject to a minimum charge of S$2.16 and a maximum charge of $13,500.00 per sub account per quarter.

Syfe has been absorbing this fee for our customers, and will continue to waive for accounts with trading activities in the quarter. (This means starting Oct 2023, accounts without any SGX trading activity in the quarter will incur this fee. It will be charged in the first week of the following quarter). 

For example:

1. Client A does one trade on SGX between 1 Oct 2023 and 31 Dec 2023. Client A doesn't incur the CDP custody fee as Syfe continues to waive the fee.  
2. Client B doesn't have any trade on SGX between 1 Oct 2023 and 31 Dec 2023. Client A incurs the CDP custody fee, which will be charged to his Syfe Trade account within the first week of Jan 2024.