In this short guide, we will compile a list of:
More stuff will be added over time!
If you are opening an account you can use my referral links to do so, and we will both get some perks, like discount on commissions, an outright cash bonus, free shares, or subscription discounts, etc. It is recommended to get various accounts to cover different products, you get open and keep them on stand-by without funding them until you need to use it. Interactive Brokers, Moomoo and StoneX (City Index) serve Singapore clients through MAS-licensed entities. TradingView is charting software, not a broker. Synapse may earn a referral reward from these links.
Interactive Brokers is one of the largest brokerage worldwide, with both retail and institutional clients, and it is publicly listed on the NASDAQ (IBKR). It offers a wide range of products (US stocks, global stocks, bonds, ETFs, REITs, forex, futures, crypto), and has one of the lowest commissions.
Charting software is the essential toolkit for any trader, and TradingView is of the best charting platforms out there at the moment, and it is web-based, so you can do your analysis at home on your computer and still see the analysis on your mobile devices when you are on the go. It is free to use with an optional upgrade.
Before specialising into any market, it is important to do some reading to understand the financial markets, check out the different markets and their optimal trading timezones, and be aware of all the important news & events around the world.
If you do not have time to read all the news stories daily, join our free Telegram channel and receive a weekly summary of all the major market news to keep up updated!
With TradingView for charting, you will still need various tools for executing trades, calculating your position size & risk management, tracking news announcements, comparing currency strength, and a way to measure your trading performance.
For your long-term investment portfolio, you will need some tools to backtest your strategies to see what gives the optimal risk/return trade-off.
And for stock selection, the problem is that there are thousands of stocks to choose from, so you need a tool to filter out the best opportunities.
Besides brokerages which allow you to buy/sell, you will need wallets to store your assets or give you access to Dapps (decentralised apps).
We have also included ways to earn passive income via lending, and various research tools to aid you in finding the best opportunties.
