TD Ameritrade Singapore announced on Wednesday that it will eliminate commissions on online exchange-listed stock, ETF (exchange-traded fund) and option trades for its clients trading the US markets in Singapore.
The move, which will take effect on Aug 3, slashes fees from US$10.65 to zero. Clients trading options will now pay US$0.70 per contract with no exercise or assignment fees.
A final pricing schedule will be available on Aug 3.
Chief executive of TD Ameritrade Singapore Chris Brankin said the brokerage firm has seen “growing demand” for its services in trading US stocks, ETFs and options since the launch of its Singapore business in 2011.
“The move to zero commission is fantastic news for our clients and thanks to the diversity of our business model, we are glad to make it a reality,” he added.
TD Ameritrade is a US brokerage firm that provides investing services and education to some 13 million client accounts totalling about US$1.5 trillion in assets, and custodial services to more than 7,000 registered investment advisers.
“Beyond zero commissions, we are committed to giving our clients the best possible investing experience, with cutting-edge technology and award-winning investor education and service teams. Now, that experience just got better for our Singapore clients,” said Mr Brankin.