Good trading platforms should make it easy to trading CFDs.Types of CFDs include indices, forex, metals and cryptocurrencies. Our team has compared the best CFD trading platforms from MAS regulated forex brokers for Singapore traders.
Updated: 01/03/2021
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Below are our best trading platforms for trading CFDs from MAS regulated brokers:
The best CFD trading platform Singapore traders can access is offered by City Index. With over 35 years of experience serving +150,000 retail traders from across the world, City Index was selected as the best CFD platform for tight spreads and low trading fees. Our team of experts hand-picked City Index due to three factors, including:
City Index is a financial provider of forex and CFD trading authorised and regulated in 8 Tier 1 jurisdictions, including the local regulatory agency MAS. City Index is part of Gain Capital Group, which gives CFD traders’ market access in line with the rules imposed by the following regulatory bodies:
Below, our team of experts at Compare Forex Brokers will asses and rank City Index Singapore for its trading CFDs conditions.
Among the CFD brokers we reviewed, City Index Singapore offers the lowest spreads and zero commissions for trading CFDs. When you buy and sell CFD financial instruments, you need first to overcome the spread for your position to become profitable. That’s why CFD brokers offering tight spreads are critical for successful trading.
City Index offers competitive spreads across a wide range of Contracts for Difference (CFD) including:
Disclaimer* City Index offers transparent CFD rates across all the different asset classes that can be found on their online trading platform. In this regard, it’s good to know that depending on the global markets you wish you trade, City Index runs two pricing models:
City Index Singapore was also our top pick for the best CFD brokers with powerful trading platforms. When we reviewed CFD brokers in Singapore for their trading platform features, City Index scored the most points due to:
City Index is a MAS regulated broker that offers the best range of CFD trading platforms for Singapore residents. City index will keep your funds segregated from the company’s money so you can trade with trust. Singaporean traders can start trading with a free demo account by clicking the button below.
After reviewing the best CFD brokers for Singaporean residents, Saxo Markets offers the most CFD markets. Saxo Markets is a gateway to over 9,000 CFD global markets, including stocks, foreign exchange currencies, indices and more.
Saxo Markets is a leading global Forex and CFD provider, which complies with stringent regulatory requirements in 15 jurisdictions across the globe, including Denmark, the United Kingdom, Australia and Singapore:
Among the top regulated brokerages servicing Singaporean clients, we reviewed, Saxo offers the most extensive range of financial instruments. The company provides access to more than 40,000 tradable instruments grouped in several asset classes through its award-winning trading platforms – SaxoTraderGO, SaxoInvestor and SaxoTraderPRO.
All these platforms can be accessed from a single trading account opened with the broker. Singapore-based traders have a choice of three account types:
Singaporean retail clients can choose from an array of tradable assets as follows:
Note* The above table outlines the typical CFD spreads offered on the Classic trading account.
Saxo also offers its Singaporean investors access to industry-leading price to complex and high-risk leveraged products, including:
Overall, with over 800,000 traders, Saxo Markets is a global leader in CFD trading. The proprietary CFD trading platforms offered by Saxo are user friendly and they come with powerful tools, integrated trading signals and a wide range of CFD markets.
View Saxo Markets Review >>Visit Saxo Markets >>
When we compared the best CFD platforms for trading indices like Dow Jones index, S&P 500 index, FTSE 100, China’s SHCOMP or the Singapore stock market index STI, CMC Markets offers the best technological solution. Based in London, CMC Markets is a reputable CFD and Forex broker with offices across continental Europe and the Asia Pacific region:
Our review has concluded that CMC Markets offers Singapore-based clients the most extensive list of global Stock Indices and ETFs available to trade as CFDs.
The brokerage offers a total of 95 Stock Index CFD contracts on its two main trading account types – CFD Account and Corporate Account, traded with a maximum leverage of 1:50 and with no minimum deposit requirement. The Index CFD products are accessible through the broker’s MetaTrader 4 platform as well as through its award-winning CFD trading app, which features real-time charting and more than 35 technical indicators and drawing tools.
Singapore-based clients can trade the MSCI Singapore Free Index with spreads of as low as 0.3 points and the Dow Jones 30 Industrial Average with a minimum spread of 1.6 points. Margin requirements, trading hours and minimum spreads on other popular Stock Indices are presented in the table below.
Additionally, the broker provides access to more than 8,400 global Stocks and 1,000 ETFs through Contracts for Difference. CMC Markets will charge a commission of 0.10% (minimum SGD 10.00) for opening and closing positions in Singaporean Shares CFDs, while for US Stocks the commission charged will be $0.02. Margin requirements range between 10% and 20%.
The following table visualises the minimum commission charged, the trading hours and other specifications associated with Stock trading.
It is essential to note that the broker offers certain risk management tools so that clients can protect their active positions and handle high leverage ratios. One such tool is the Guaranteed Stop-Loss Order, which sets an absolute limit on potential losses and closes the position at the specified price level with 100% certainty.
However, CMC Markets will charge a premium for using this tool. For example, when trading 5 CFD contracts in Dow Jones 30, Singapore-based clients will be charged a premium of SGD 6.61 for placing a Guaranteed Stop-Loss Order. If not triggered, the broker will refund the full amount of the original premium.
At CMC Markets, Singapore clients can enjoy powerful trading technology through the award-winning Next Generation platform. The spread starts from 0.7 points on FX pairs and 0.3 points on the world’s most popular stock indices. Grab your free demo account by clicking the button below.
View CMC Markets Review >>Visit CMC Markets>>
Oanda was awarded the prize of the best MetaTrader 4 broker due to 4 factors:
OANDA Corp, founded in 1995, is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the US Commodity Futures Trading Commission. Additionally, the CFD and Forex broker is authorised to operate in several other jurisdictions:
Among the top regulated CFD brokers in Singapore we reviewed, Oanda offers the most competitive MetaTrader 4 software solution. Oanda’s custom-built bridge combines the broker’s pricing and execution with the charting and analytical capabilities of the MetaTrader 4 platform.
With Oanda’s user-friendly MT4 solution, Singapore-based traders are able to take advantage of:
The broker also offers a free Demo Account with unlimited virtual funds, with which CFD traders can get a taste of real market conditions with live pricing. The Demo Account can be used for as long as Oanda clients want.
The MetaTrader 4 (MT4) trading platform is the world’s most popular retail forex platform. In our proprietary star scoring system, Oanda won the most points as its custom-built bridge connects Singaporean traders to the best technological solution for MT4. Oanda doesn’t enforce any minimum deposit amounts, so you’re free to start your trading journey with no financial commitment.
View Oanda Review >>Visit Oanda >>
Based on our star scoring system, the leader in forex trading platforms in CFD currency trading is Interactive Brokers. The US-based brokerage trading firm is the biggest US broker. IB Singapore offers the best forex retail investor accounts due to 5 factors:
With over 40 years of business history, Interactive Brokers Group is a global brokerage that provides direct access, trade execution, and clearing services for a range of financial markets. IB Group is the parent company of:
Note* The broker also adheres to regulatory standards in Luxembourg and India.
With IB, Singapore-based traders are granted direct market access (DMA) to interbank quotes from 17 of the largest Forex dealing financial institutions in the world. The broker offers a total of 105 major, minor and exotic currency pairs comprised of 23 trading currencies – USD, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, ZAR, KRW.
Traders can take advantage of the best bid and ask prices derived directly from a number of liquidity providers, with spreads being as low as 1/10 pip.
The broker will charge a small commission of 0.08 to 0.20 basis points depending on trade size, with the minimum commission being $2.00 (or currency equivalent) per trade.
FX Trader is the optimised trading software offered by Interactive Brokers. It features trading tools designed by the broker and supports more than 20 order types, including trailing stop limits, brackets, one cancels all, limit if touched and scale. The platform also offers an easily customizable layout, with every currency pair’s “trading cell” showing the position, the average cost as well as the Profit and Loss data.
Overall, Interactive Brokers offer the best online trading service for experienced traders that seek to take advantage of the price movements in the foreign exchange market. On top of that, forex traders also have access to +6,100 CFD instruments.
The CFD provider Plus500 a company listed on the London Stock Exchange (LSE) offers a complete risk management software solution. Due to the regulatory frameworks, brokers are required to offer solutions for limiting the trading risks. The risk management tools offered by Plus500 allow CFD traders to automatically manage their risk.
Plus500 risk management solution includes the following features:
Plus500 operates in Singapore through its subsidiary Plus500SG Pte Ltd, which abides by the regulatory frameworks imposed by the Monetary Authority of Singapore (MAS). Additionally, Plus500 is licensed to provide online CFD trading by another 3 tier-1 regulatory bodies in the UK, Cyprus (UE) and Australia.
Note* In trading, risk management tools are built-in features that come with your trading software. The risk tools are designed to protect and help traders better manage currency risk and CFD risk.
Plus500 is the only MAS regulated CFD provider that offers its clients welcome deposit bonuses. Plus500 clients can be compensated with a deposit bonus of up to SGD 13,000 which can be used as a margin for future trades.
The onetime CFD bonus can range in size, depending on the initial deposit made by Singaporean residents. To be eligible to receive the minimum deposit bonus of SGD 80, you need a minimum deposit of SGD 300. For a completed list of the welcome bonuses offered by Plus500 study the table below.
Note* The deposit bonus is available for withdrawal after 90 days only if the trader has completed a certain trading volume as stipulated in the Plus500 Bonus Terms & Conditions.
Additionally, Plus500 clients can also automatically join the Rebates Program within the first 12 days from your first deposit. The CFD rebates rate are credited to your account at the end of each week.
Note* The trading rebates are a way to increase your profits by gaining cashback each time you place a trade. Usually, the trading rebates can come in the form of reduced spreads.
Overall, Plus500 offers robust and reliable risk management tools, which is a real account saver. You can start trading on the most popular CFD instruments in Singapore (USD/SGD, Singapore 25 and Singapore Shares) by clicking the button below.
View Plus500 Review >>Visit Plus500 >>
*Your capital is at risk ‘76.4% of retail CFD accounts lose money’
We compared the top CFD platforms that allow you to trade Bitcoin and other cryptocurrencies and found that IG Markets offers the best solution. At IG, Singaporean residents can trade 8 major digital coins (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Stellar, NEO and EOS) with zero commissions and do electronic wallet. IG Group Holdings Plc, established in 1974, is a reputable multi-regulated CFD and Forex broker operating in 16 countries across 5 continents, including:
IG Markets provides its more than 178,000 clients access to a vast range of markets through several online trading platforms, including:
Our review has concluded that IG has the best Cryptocurrency CFD offering for Singaporean traders.
The broker offers 8 of the most popular digital currencies, which can be traded as CFD contracts on all of its platforms with no commissions charged (traders pay only the spread). These products are also available on IG’s Demo Account.
Singapore-based clients can trade Bitcoin with:
We should note that larger position sizes will require more margin, as per IG’s tiered margin policy. Tiers depend on the number of contracts included in a trader’s position. For example, trading 70 or more CFD contracts in Bitcoin will require a margin of 30%, while 140 or more contracts – a margin of 75%.
Cryptocurrency CFD specifications for all digital coins available on IG Markets’ MT4 trading platform are presented in the following table. It also shows the risk premium the broker will charge if a trader’s Guaranteed Stop Loss order is triggered.
Overall, IG clients can benefit from advanced trading platforms that are compatible with cryptocurrency trading. Singaporean residents can speculate in rising and falling crypto prices without the need to open an exchange account, along with attractive leverage and improved liquidity. Grab your 30-day Free demo account by clicking the button below.
View IG Markets Review >>Visit IG >>
Swissquote was awarded as the best broker that features that MetaTrader 5 platform and allows CFD trading. Swissquote Bank Ltd is not just a Forex broker, but also holds banking and transferable securities trading licenses, granted by the Swiss Federal Banking Commission in 2001. The company is regulated by the Swiss Financial Market Supervisory Authority (FINMA).
SwissQuote Ltd is registered in England and Wales and regulated by the UK’s FCA.
SwissQuote Pte. Ltd., a subsidiary of Swissquote Bank, is authorised and regulated to conduct business in Singapore by the Monetary Authority of Singapore.
Among the top regulated CFD brokers in Singapore we reviewed, SwissQuote offers the most competitive MetaTrader 5 trading platform. It comes with a full analysis & charting suite, complimentary plug-ins and has unrestricted automated trading capabilities.
With SwissQuote’s MT5 solution, Singapore-based CFD traders are able to take advantage of:
Overall, SwissQuote is able to offer a superior technological solution for the MetaTrader 5 (MT5) platform. SwissQuote MT5 is available across multiple devices including desktop, web and mobile. Upgrade your trading and start taking advantage of advanced plug-ins and trading tools by clicking the button below.
All CFD platforms reviewed by our team of experts were tested and evaluated based on 4 factors:
For beginner traders, the best CFD trading platform is undoubtedly the MetaTrader 4 (MT4) platform, which has a user-friendly interface. For advanced traders, the MetaTrader 5 (MT5) and cTrader platform empower CFD traders with sophisticated tools to execute more complex trading strategies.
Additionally, all CFD brokers reviewed offer CFD traders access to proprietary trading platforms and other sophisticated software technologies.
Risk Warning: Contract for Difference (CFDs) are leveraged products that are not suitable for inexperienced traders. Due to the high risk associated with CFD trading, do your due diligence and only trade on the CFD trading platforms that for you trading needs.
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.
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