US Brokerage vs Singapore Brokerage for Holding US Stocks: What the Numbers Actually Say Most Singapore investors pick a brokerage based on one thing: the trading commission. That is the wrong variable to optimize. The real differences between purchasing and holding US stocks, ETFs, and mutual funds through a US brokerage account versus a Singapore brokerage account come down to three factors that dwarf commission costs: US estate tax exposure, dividend withholding tax, and the regulatory structure protecting your assets. Get those three wrong, and a cheap commission is the most expensive decision you ever made. ...