Lately, there have been way too many people wanting to open an account and buy stocks, but choosing a brokerage is really a big problem. I put together a list of a few of the top-ranked brokers in Taiwan, and I found the commission fee differences are huge—some can be negotiated down to 20%, while others still charge above 60%. Missing out by a few thousand dollars is really noticeable.

Based on last year’s data, the top-ranked brokers in Taiwan are Yuanta, KGI, and Fubon, and their market shares are all above 10%. They also offer the widest selection of tradable products, ranging from Taiwan stocks to U.S. stocks, futures, and options. However, do note that if you want to buy U.S. stocks through a local broker, the commission for remittance is relatively higher—in that case, finding an overseas broker directly may be a bit more cost-effective.

When choosing a Taiwanese broker, besides looking at commission discounts, I think you should also consider how good the app is, whether they have enough marginable assets/securities, and how the financing interest is calculated. Some smaller brokers lower their commissions to attract customers, but their system stability isn’t as ideal. If order placement is slow, you can really be at a disadvantage when the market is volatile. I recommend listing a few of the main Taiwan brokers first, testing their apps yourself, and then deciding—this way, you can find the one that fits you best.

If your capital is relatively small or you want to trade with leverage, overseas platforms like Mitrade only require a 50 US dollar minimum to get started, and they also offer 0 commission trading. Just be sure to pay attention to the withdrawal rules. For larger funds, Interactive Brokers or Firstrade are also good options—each has its own advantages. In any case, compare a few more before you decide, and don’t get fooled by commission fees—the overall cost is what really matters.