Taiwan Securities Broker Rankings 2025 Edition: Top 10 Brokers' Market Share and Commission Fee Analysis

Current Situation of the Domestic Brokerage Ecosystem in Taiwan

As the number of investors in Taiwan rapidly increases, the role of securities firms becomes increasingly important. Whether it’s stocks, bonds, or futures options, retail investors must go through securities companies to participate. Currently, there are many well-established local brokerages with decades of operational experience, mainly providing trading services for Taiwanese stocks and overseas products.

It is important to note that if you conduct overseas investments (repatriation of orders) through domestic brokerages, the transaction fees are significantly higher than placing orders directly with overseas brokers. This is also a primary reason why many seasoned investors choose overseas platforms.

2024 Market Share Rankings of Taiwanese Securities Firms

Based on the total trading volume for the year 2024, here are the top ten domestic brokerages in Taiwan by market share:

The combined market share of the top three brokerages (Yuanta, KGI, Fubon) has already exceeded 30%. These large brokerages typically offer more comprehensive systems, a wider selection of securities, and relatively favorable financing interest rates.

Breakdown of Taiwan Stock Trading Costs: Commission vs. Transaction Tax

Trading stocks in Taiwan incurs two types of costs: commissions and transaction taxes.

Commission is officially set at 0.1425%, payable on both buy and sell sides. When the calculated fee is less than NT$20, it is rounded up to NT$20.

Transaction tax is only levied at 0.3% when selling, and this fee goes to the government; brokers cannot offer discounts on it.

Actual situation regarding commission discounts

Although there is an official pricing, with the popularity of online orders and fierce competition among brokerages, actual trading discounts vary greatly. High-volume investors can negotiate with brokers and usually obtain significant rate discounts.

For example, consider a scenario where TSMC (Taiwan Semiconductor Manufacturing Company) buys and sells 5 shares each at:

From this example, it’s clear that transaction tax is the major component of trading costs, but differences in commission discounts can still impact frequent traders.

Comparison table of commission discounts among major brokerages

From the table, it’s evident that Cathay and E.SUN offer the lowest discounts (20%~28%), suitable for large-volume traders; the others are around 60%, with daily or monthly refunds affecting capital turnover efficiency.

Four Key Factors in Choosing a Brokerage

1. Commission Discount System

Discounts are not fixed and can be negotiated with brokers. If your monthly trading volume exceeds NT$1 million, you can usually negotiate for better terms. However, beware: some small brokerages lower commissions to gain market share but may sacrifice system stability and order execution speed, which can ultimately impact trading experience.

2. Quality of Trading Software

Each brokerage offers free trading tools with features like real-time quotes, technical analysis, and account management. Apps like Yuanta’s “Investment Mr.” and KGI’s “Mobile eStrategy” have their own characteristics. It’s best to try them out yourself before choosing, to ensure smooth operation and full functionality.

3. Securities Source Availability and Financing Interest

Larger brokerages hold more securities sources, making margin trading easier. The maximum margin ratio for Taiwan stocks is 60% for listed stocks and 50% for OTC stocks, but financing interest rates fluctuate between 6% and 7%. Large brokerages usually offer lower rates. If you frequently use margin trading, prioritize brokers like Yuanta and KGI.

4. Branch Network and Customer Service Quality

Large brokerages have more physical branches nationwide, providing better in-person service. With the rise of online trading, this factor is less critical than before, but it still benefits investors who prefer face-to-face consultation.

Cost Differences Between Domestic and Overseas Brokerages

Investing directly through overseas brokerages for overseas stocks often results in significantly lower costs compared to using domestic brokerages’ repatriation services.

Major options for international brokerages

Interactive Brokers (IBKR)

• Founded in 1977, serving global investors
• Stock trading fee of $0.005 per share, suitable for large capital investors
• Offers markets in US, UK, Germany, Japan, Korea, and more
• Margin accounts require maintaining over $2,000
• Provides Chinese customer support

Firstrade

• US-based online-only brokerage, regulated by FINRA and SIPC
• Zero commissions on stocks, ETFs, options
• Simple interface, especially suitable for dollar-cost averaging investors
• Withdrawal fee is high ($25 per withdrawal), recommend reducing withdrawal frequency
• Popular among Taiwanese investors trading ETFs

Basic Process for Opening an Overseas Brokerage Account

Step 1: Create an Account Fill in basic information, email, set a password, and select the main trading currency. After completion, you can use a demo account to familiarize yourself with the interface.

Step 2: Complete Identity Verification Submit KYC documents (ID, proof of address, etc.). Once approved, you can start real trading.

Step 3: Deposit Funds Choose a suitable deposit method (credit card, wire transfer, third-party payment). Minimum deposit thresholds vary by platform, usually between $50 and $100.

Step 4: Search for Securities and Place Orders Log into the trading platform, enter stock codes or names in the search bar, and start trading.

Summary

When choosing a securities firm in Taiwan, investors should consider not only commission discounts but also trading software, securities source availability, financing interest rates, and customer service quality. The top three market share leaders—Yuanta, KGI, and Fubon—due to their larger scale, generally offer more stable systems and comprehensive services.

For those mainly investing in Taiwanese stocks, using domestic brokerages is the most convenient option; but if frequently trading US, Hong Kong, or other overseas markets, opening an overseas brokerage account is often more cost-effective, saving 30%~50% in fees. The key is to find the trading channel that best fits your trading habits, capital size, and investment targets.