OCBC Securities Removes Its Minimum Commission on Online SGX Trades From 5 October

Tue 6 Oct 2026 | SGX Daily Pulse Podcast

The Numbers

OCBC Securities removed its minimum commission on online SGX trades from 5 October. Its managing director cited one transaction falling from S$25 to about S$2. The firm says roughly a quarter of its clients' Singapore holdings are odd lots, often built up through scrip dividend schemes. The change is aimed at investors adding S$500 to S$1,000 at a time, while trades of S$50,000 to S$100,000 will see little difference. Today's podcast explains why a fixed minimum falls hardest on small trades. SGX also cut board lots for 11 stocks, including DBS, OCBC and UOB, on the same day. $OCBC Bank(O39.SG) 

My Personal Take

On Monday I wrote that the board lot cut reduces the cash for one lot to a tenth and moves no yield. This is the other cost of a small trade, and it changed on the same day. It took me a while to see that both changes mostly affect people with small amounts and leftover shares. I only have OCBC Securities' own figures, so I do not know how much of the saving other brokers match. Another broker's rate table would tell me whether this is one firm's move or a wider one. Let's see..... 🦖

📺 YouTube: https://youtu.be/RFO4aGYdPdc

📩 Substack: https://investingiguana.com/p/why-a-minimum-commission-hits-small