TD Ameritrade Singapore is eliminating commissions on online exchange-listed stock, ETF, and option trades for its clients trading the U.S. markets in Singapore.
From August 3, 2020, the $10.65 fee will be reduced to zero, while clients trading options will now pay $0.70 per contract with no exercise or assignment fees, the firm said in an announcement on Wednesday.
«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,» said TD Ameritrade Singapore CEO Chris Brankin, who noted growing demand for services in trading U.S. stocks, ETFs and options since the launch of its Singapore business in 2011.
Trading Growth
In an interview with finews.asia in June, Brankin said the firm is actively developing its capabilities to support the growing pool of clients in the region.
TD Ameritrade saw a record number of new accounts and a record number of trades at the height of the Covid-19 lockdown, but there was already a significant uptick in account openings in the city-state even before the Covid-19 outbreak, he said.
