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Fees & free trades

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

    Type US Market SG Market
    Syfe commission fee

    First 3 months promotion

    Unlimited free trades per month

    After 3 months: 

    2 free trades per month 

    US$1.49 per trade thereafter

    Learn more here.

    0.06% of traded value

    (minimum S$1.98)

     

    Please note that monthly free trades are not applicable for SG market trades.

    SEC fee

    US$0.000008* traded value
    (minimum US$0.01)

    Only applicable to sell trades.

    Not applicable

    Trading activity fee (TAF)

    US$0.000119 / share (minimum US$0.01, maximum US$5.95)

    Only applicable to sell trades.

    Not applicable
    ADR fees

    US$0.01 - 0.05 / Share

    Not applicable
    Corporate action fees relating to ADR Varies Not applicable
    Penny Stock fee USD0.003 / share Not applicable
    Trading fee Not applicable 0.0075% of traded value
    Clearing fee Not applicable 0.0325% of traded value
    Custody fee Not applicable Waived* 

    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 Brokerage, 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 Brokerage 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

    TF

    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 all accounts till 1 January, 2024.

    As of 1 January 2024, Syfe will pass these charges on for anyone who has not traded on SGX at least once in the past quarter. We will continue to bear the cost for all customers who made at least one SGX trade.
    The charge will be a flat rate of S$2 (subject to GST) per quarter inactivity, starting from 1 January, 2024. Meaning that if you currently hold and are not trading SGX securities in Q1, you will be charged at the start of Q2. To avoid this fee, you have until 31 March, 2024 to make an SGX trade which would waive off fees.

    U.S Penny stocks fee

    At Syfe, we charge an additional fee for transactions involving US penny stocks, defined as stocks with a ticker price below 2 USD per share. The fee is set at USD 0.003 per share. For example, buying 1000 shares of a stock priced at 1 USD per share would incur an additional fee of 3 USD. This penny stock fee is charged on top of any standard commission and applies only to US stocks priced under 2 USD. It is designed to cover the higher risks and administrative costs associated with trading these types of stocks.

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  • Syfe is a GST-registered entity. 

    Effective 1 May 2022, Goods & Services Tax (GST) will be applied to commission fees for the US market (outside of the free trade allowance) and all fees applicable to the SG market at the prevailing rate. This is in accordance with Singapore GST regulations. 

    All customers will continue to enjoy free monthly trades and GST only applies to commissions outside of the free trade allowance. Brokerage does not charge any platform fees. 

     

     

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  • Brokerage offers free monthly trades for US-listed stocks and ETFs.

    All new clients enjoy an introductory offer of unlimited free monthly trades for the first 3 calendar months, and fees of just USD 1.49 per trade for their 3rd trade starting from their 4th month onwards.

    E.g. Jane creates her Brokerage account on 25 January 2023. She will receive the following free trades:

    • 25 January - 30 April: Unlimited free trades

    After the introductory offer, clients will enjoy 2 free trades each month, and fees of USD 1.49 per trade for their 3rd trade onwards.

    E.g. Jane will enjoy the following pricing after her introductory offer ends. 

    • 01 May onwards: 2 free monthly trades, USD 1.49 / trade after

    Fees are charged at the time we receive your order. For a breakdown of other applicable charges, click here.

    *New clients refer to clients who complete KYC and account creation, and are fully onboarded from 25 January 2023 onwards. Clients who complete KYC before 25 October 2022 but haven't funded their account will also enjoy 3 months of free trades from 25 January 2023 to 30 April 2023.

     

    When will my free trade entitlement be reset?

    Free trades are reset at the beginning of each month. Unused free trades for a particular month will not be carried over to the next month.

    For instance, if you create your Brokerage account on 25 January 2023, you will have unlimited free trades till the end of April. On 01 May 2023, your free trade entitlement will be reset and you will get 2 free trades for the month of May.

    You may check the remaining number of free trades you have for the month via the Syfe Brokerage app under Accounts > Pricing.

    Is there a limit to the number of shares I can buy or sell using the free trade allowance?

    Not at all! You may use your monthly free trade allowance as you prefer.

    For example, you may use your free trade to buy half a share, one share, or 1,000 shares - it's entirely up to you.

     
     
     
     
     
     
     
     
     
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