Best Singapore CFD Trading Platforms

Below are our best trading platforms for trading CFDs from MAS regulated brokers:

  • City Index - Best CFD Platform For Tight Spreads & Overall
  • Saxo Markets - Good For Range Of Financial Instruments
  • CMC Markets - Top Trading Platform For ETFs And Stock Index
  • OANDA - Best Broker With MetaTrader 4 CFD Trading Platform
  • Interactive Brokers - Good CFD Platform For Currency Pairs
  • Plus500 - CFD Platform With Risk Management Features
  • IG Group - Top CFD Platform For Cryptocurrency Trading
Broker Review Our Rating Regulation Standard
EUR/USD
Spread
Standard
GBP/USD
Spread
Standard
AUD/USD
Spread
Raw
EUR/USD
Spread
Raw
GBP/USD
Spread
Raw
AUD/USD
Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage Visit Broker
66 ASIC, MAS, FCA 0.70 1.1 2.2 0.07 0.011 0.8 $2.50 95ms $150 84+ 25+ 30:1 500:1 Visit Site
54 ASIC, FINMA
FCA, MAS
1.20 1.8 0.9 - - - - 135ms $2000 209+ 9+ 50:1 50:1 Visit Site
69 ASIC, MAS, FCA
CIRO, FMA, BaFin
1.12 1.30 1.64 0.5 0.9 0.6 $2.50 138ms $0 338+ 19+ 30:1 500:1 Visit Site
81 FCA, CIRO, ASIC
MAS, JFSA, FSC-BVI
KNF, NFA/CFTC, MFSA
0.6 0.9 0.7 - - - - - $0 70+ 4+ Visit Site
52 NFA, CFTC, CBI
ASIC, FCA, MAS
CIRO, JFSA
- - - - 0.08%-0.2% 110ms $0 100+ - 30:1 500:1 Visit Site
57 ASIC, CySEC, MAS
FCA, FMA, DFSA
EFSA, FSA, FSCA
1.70 2.3 1.4 - - - - 140ms $100 71+ 15+ 30:1 300:1 Visit Site
71 ASIC, FCA, BaFin
FINMA, NFA/CFTC, MAS
CySEC, DFSA, FMA
JFSA, BMA, FSCA
1.13 1.66 1.01 0.16 0.59 0.29 $6.00 174ms $450 100+ 12+ 30:1 200:1 Visit Site

1. City Index Best CFD Platform For Tight Spreads & Overall

City Index

Forex Panel Score

68

Average Spread

EUR/USD = 0.7
GBP/USD = 1.1
AUD/USD = 2.2

Trading Platforms

MT4, TradingView,
City Index WebTrader

Minimum Deposit

$0

Why We Recommend City Index

We liked City Index as they have narrow spreads and low trading costs, which can make a world of difference to your profit margins. With over 35 years of expertise and a clientele of over 150,000 retail traders worldwide, they’ve earned their reputation. This isn’t a newcomer trying to make a name; it’s an established platform that knows the ropes and delivers consistently.

Pros & Cons

  • Tight standard account spreads
  • Good trading platforms for beginners
  • Extensive choice of CFD products
  • Limited range of products on MT4
  • Lacks MetaTrader 5
  • WebTrader platform has a learning curve

Broker Details

With over 35 years of experience serving +150,000 retail traders from across the world, we selected City Index 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:

  • +4,500 financial markets with TIGHT SPREADS (based on testing)
  • BEST CFD TRADING PLATFORMS (Web Trader platform, MetaTrader 4 and TradingView)
  • ADVANCED TRADING TOOLS (Performance Analytics, Smart Signals and Advanced Charting)

Tight RAW Spreads Based on Testing

City Index offers the lowest RAW spreads among the CFD brokers we reviewed in Singapore. Based on our testing of RAW/ECN accounts, City Index achieved spreads of 0.25 pips for the 6 major currency pairs.

These were the lowest spreads in Singapore and number 2 on our list overall, just behind Fusion Markets at 0.22 pips.

Having tight RAW spreads added to our low-cost experience trading the broker’s over 4500 CFD markets, including 84 forex pairs, one of the biggest product ranges we’ve seen in Singapore.

RAW Spreads Tested By Ross Collins
0.22 0.23 0.17 0.27 0.16
0.44 0.68 0.90 0.64 0.75
0.19 0.19 0.41 0.36 0.61
0.15 0.37 0.59 0.67 0.50
0.22 0.42 0.62 0.25 0.56
0.20 0.48 0.44 0.47 0.64
0.20 0.31 0.31 0.39 0.51
0.19 0.23 0.27 0.24 0.24

Avg. spreads are taken from each broker's website and updated monthly. Last update on 05/01/2024

Best Trading Platform Experience

City Index 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 its proprietary web trader platform.

While City Index also offers MT4 and TradingView as platform options, the broker’s web trader platform was our favourite, combining a simple and intuitive interface with advanced trading tools.

Through the web trader, you have access to 90 technical indicators via the platform integration with TradingView, as well as the ability to execute complex order types like OCO (one-cancels-the-other) orders.

Perhaps our favourite feature, however, was the ability to drag stop-loss or limit orders to a new price level, saving us time when day-trading or scalping where speed is vital.

While we found it rather complicated to manually arrange widgets when setting up a new workspace, the web trader did come with a wide variety of predefined screeners and layouts.

View City Index ReviewVisit City Index

Your capital is at risk ‘69% of retail CFD accounts lose money with City Index’

Broker Screenshots

2. Saxo Markets Good For Range Of Financial Instruments

Saxo Markets

Forex Panel Score

52

Average Spread

EUR/USD = 1.2
GBP/USD = 1.8
AUD/USD = 0.9

Trading Platforms

MT4, TradingView,
SaxoTraderGo, SaxoTraderPro

Minimum Deposit

$10,000

Why We Recommend Saxo Markets

We liked Saxo Markets because no other platform comes close to offering access to more than 9,000 global CFD markets that span equities, currencies, indices, and beyond. What’s more, Saxo Markets isn’t just a wide-reaching platform; it’s also a trustworthy one. They adhere to rigorous regulatory standards in 15 countries. If you’re a Singaporean trader looking to diversify your CFD portfolio, Saxo Markets should be a top contender on your list.

Pros & Cons

  • Comprehensive choice financial markets
  • Well regulated
  • Excellent trading tools on SaxoTraderGo
  • Highest minimum deposit
  • SaxoTraderGo has a learning curve
  • Lacks live chat and 24/7 customer support

Broker Details

After reviewing the best CFD brokers for Singaporean residents, we found Saxo Markets offers the most CFD markets that we’ve encountered. Saxo Markets is a gateway to over 9,000 CFD global markets, including stocks, foreign exchange currencies, indices and more.

We also rated Saxo Markets highly for its long-standing reputation and trust (being regulated in 4 tier-1 jurisdictions), excellent trading platforms and advanced trading tools.

Huge Range of Financial Instruments

Among the top regulated brokerages servicing Singaporean clients we reviewed, Saxo offers the most extensive range of financial instruments.

In terms of CFDs, we found the broker offered nearly 9000 share CFDs, 675 ETFs and 29 indices. While you can trade over 185 spot forex pairs, we found the broker only offered CFDs on 7 forex pairs.

If you are interested in trading more than CFDs, however, Saxo Markets provides access to over 70,000 tradable instruments grouped in several diverse asset classes including spot products, FX options and ETFs.

Low Fees for Active Traders

While Saxo Markets’ three account types require significant minimum deposits as you move up, high-volume traders will benefit with zero commissions and progressively lower spreads the more that you trade.

As such, having a tiered account structure will appeal the most to experienced traders with high monthly trading volumes and significant capital behind them.

While we only tested the Classic account (due to the steep $200,000 and $1M minimum deposits for the Premium and VIP accounts), you’ll still obtain competitive spreads of 1.1 pips (Classic), 1 pip (Platinum) and 0.9 pips (VIP) for EUR/USD.

Excellent Proprietary Trading Platforms

Saxo offers three award-winning trading platforms – SaxoTraderGO, SaxoInvestor and SaxoTraderPRO, that will suit CFD traders of all experience levels.

For our recommendation, however, SaxoTraderGO is the way to go, combining a user-friendly interface with advanced trading tools.

One feature we loved was the ability to easily switch between forex CFDs, futures, forwards, or forex options using the trade ticket. We also liked the Quick Trade option, allowing you to set price tolerance for slippage when you need immediate fills.

Broker Screenshots

3. CMC Markets Top Trading Platform For ETFs And Stock Index

CMC Markets

Forex Panel Score

74

Average Spread

EUR/USD = 1.12
GBP/USD = 1.3
AUD/USD = 1.64

Trading Platforms

MT4, CMC NGEN

Minimum Deposit

$0

Why We Recommend CMC Markets

We liked CMC Markets for its Next Generation platform, especially if you’re keen on trading ETFs and major stock indices. This platform offers exceptionally competitive spreads for Singaporean traders—starting as low as 0.7 points for FX pairs and 0.3 points for the most traded global stock indices. It’s not just about great spreads; it’s also about reliable, cutting-edge trading technology that works for you. And if you’re keen to give it a whirl before diving in, they offer a free sample account.

Pros & Cons

  • Superb choice of ETFs and indices
  • Excellent NGEN trading platform
  • Competitive trading fees
  • Limited support with mobile app
  • Too many FX pair variations (330+)
  • Limited social trading tools

Broker Details

CMC Markets offered the best technological solution when we compared the best CFD platforms for trading indices like the Dow Jones index, S&P 500 index, FTSE 100, China’s SHCOMP and the Singapore Stock Market index STI.

As such, our review concluded that CMC Markets offers Singapore-based clients the most extensive list of global Stock Indices and ETFs available to trade as CFDs.

Trade 82 Stock Indices and 1000 ETFs

We’ve explored the brokerage’s offerings and can confirm that you can trade over 82 Stock Index CFDs and 1000 ETFs. Trading these CFD products via the broker’s MetaTrader 4 platform and the broker’s award-winning CFD trading app, we were impressed with the platform’s real-time charting capabilities and a suite of over 35 technical indicators and drawing tools.

In addition to Stock Indices and ETFs, we found that the broker provides access to 338 FX pairs and over 9000 global Stocks. From our analysis, no other broker offered such an extensive range of products for Singaporean traders.

We recommend trading these products via the broker’s Next Generation platform, which is easy to use, whilst also featuring advanced charting tools. One feature we particularly liked was the customisability of the platform, with the ability to have floating or fixed windows, in addition to predefined layouts or custom setups.

Competitive Commission-Free Spreads

Of CMC Markets’ two retail investor accounts, it is the broker’s CFD account (commission-free) that you’ll obtain the most competitive spreads. The broker averaged spreads of 1.11 pips for the 6 major currency pairs from our testing of Standard (commission-free) accounts, coming 2nd on our list overall.

Only IC Markets could beat those spreads, averaging 1.01 pips for the USD-backed majors.

Broker Screenshots

4. OANDA Best Broker With MetaTrader 4 CFD Trading Platform

OANDA

Forex Panel Score

71

Average Spread

EUR/USD = 0.6
GBP/USD = 0.9
AUD/USD = 0.7

Trading Platforms

MT4, TradingView,
OANDA Web (fxTrade)

Minimum Deposit

$0

Why We Recommend OANDA

We liked OANDA’s strong MetaTrader 4 offering, making it a top choice for Singaporean traders who prefer this platform. OANDA has designed a unique bridge that connects Singapore traders to MT4, the world’s most popular retail forex trading platform. This feature earned OANDA top marks in our exclusive star ranking system. Plus, if you’re just starting your trading journey, OANDA removes one significant hurdle: no minimum deposit requirements.

Pros & Cons

  • No minimum deposit required
  • Competitive spreads
  • Premium MT4 plugin available
  • Market maker broker
  • Limited resources for beginners
  • Support is not 24/7

Broker Details

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. In addition, we scored OANDA highly for its low spreads, trust (10/10) and range of 70 forex pairs.

Full Suite of MT4 Trading Tools

When we tested OANDA’s user-friendly MT4 solution, we found that Singapore-based traders can take advantage of an advanced charting package (including over 50 built-in technical indicators), automated trading tools (EAs) and an Open Order Indicator tool where you can view aggregate open orders and open positions by OANDA clients directly on the MT4 charts.

From testing, we found the great benefit of the Open Order Indicator was we could make decisions based on retail pricing sentiment, from clearly visible levels of support and resistance on the charts.

Lowest Published Commission-Free Spreads

From our extensive spread analysis, OANDA offers the lowest published spreads for a commission-free (Standard) account in the industry. The broker achieved average spreads of 0.70 pips across the 5 most traded currency pairs.

This put OANDA well above the industry average of 1.52 pips, and just in front of IC Markets at 0.76 pips.

oanda trading platform

5. Interactive Brokers Good CFD Platform For Currency Pairs

Interactive Brokers

Forex Panel Score

51

Average Spread

EUR/USD = N/A
GBP/USD = N/A
AUD/USD = N/A

Trading Platforms

Trader Workstation

Minimum Deposit

$0

Why We Recommend Interactive Brokers

We liked Interactive Brokers’ breadth of forex currency options, specifically offering 105 currency pairs for trading. This makes it a top choice for Singaporean traders looking to diversify their forex portfolio. With more than 40 years of experience in the industry, Interactive Brokers brings not just variety but also expertise and reliability to the table. The firm is based in the US but offers some of the best retail forex investor accounts through its Singapore operations.

Pros & Cons

  • Extensive selection of forex pairs
  • No minimum deposit required
  • Good range of trading tools
  • Has a minimum commission of $2 per trade
  • IBKR platform has a learning curve
  • Lacks choice of third-party trading platforms

Broker Details

Based on our proprietary star scoring system, Interactive Brokers takes the cake as the leading platform for forex trading in CFD currency trading. As the biggest US-based brokerage trading firm, IB Singapore offers highly sophisticated CFD trading platforms to trade its extensive range of over 80 currency pairs.

Extensive Range of Currency Pairs

With IB, Singapore-based traders are granted direct market access (DMA) to interbank quotes from 17 of the world’s largest Forex dealing financial institutions. The broker offers a total of +80 major, minor and exotic currency pairs, comprised of 23 trading currencies, which is one of the largest ranges we’ve encountered.

You 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.

In terms of trading costs, we found the broker charges 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.

Sophisticated Trading Platforms

Out of all its sophisticated trading platforms, it is the broker’s Trader Workstation (TWS) that stood out to us, specifically FXTrader, which is the main terminal within TWS for trading forex. It features advanced trading tools designed by the broker and supports more than 20 order types, including trailing stop limits, brackets, one cancels all and limit if touched.

We particularly liked FXTrader’s easily customisable layout, with every currency pair’s “trading cell” showing the position, average cost, and profit and loss data.

6. Plus500 CFD Platform With Risk Management Features

Plus500

Forex Panel Score

56

Average Spread

EUR/USD = 1.7
GBP/USD = 2.3
AUD/USD = 1.4

Trading Platforms

Plus500 Trading Platform

Minimum Deposit

$100

Why We Recommend Plus500

We liked Plus500 for its comprehensive approach to risk management. As a London Stock Exchange-listed company, it operates within stringent regulatory frameworks that prioritise trader safety. What sets Plus500 apart is its automated risk management features, giving CFD traders in Singapore the tools they need to keep their trading risks in check. If you’re keen on safeguarding your investments while enjoying the dynamics of CFD trading, Plus500 should be on your radar.

Pros & Cons

  • Good platform for beginners
  • Low spread trading account
  • Offers good risk management tools
  • No third-party platforms available
  • Lacks market research tools
  • Inactivity fee

Broker Details

In our experience with Plus500, a CFD provider listed on the London Stock Exchange, we found the broker offers comprehensive risk management features, the best we’ve encountered in Singapore.

Risk Management Features

From our testing of Plus500’s proprietary platform, we found an extensive range of risk management features that allowed us to reduce our trading costs, alert us to important news events and keep our online trading account from going negative.

We’ve highlighted the 4 key risk management features Plus500 offers:

  • GUARANTEED STOP LOSS ORDER (GSLO) – helps minimise CFD losses by eliminating slippage (for a small fee)
  • NEGATIVE BALANCE PROTECTION (NBP) – safeguards your deposit funds (you can’t lose more than your account balance)
  • ADVANCED ORDER TOOLS – trailing stop loss, stop limit and stop-loss orders (to reduce slippage)
  • REAL–TIME ALERTS – for changes in the price of your favourite CFD instruments, percentage changes and market sentiment notifications

Plus500 Bonuses and Trade Rebates

Plus500 stands out as the only MAS-regulated CFD provider offering welcome deposit bonuses. Depending on the size of your initial deposit, Singaporean traders can receive a deposit bonus of up to SGD 13,000, usable as a margin for future trades.

The one-time CFD bonus can range in size, depending on the initial deposit made. To be eligible to receive the minimum deposit bonus of SGD 80, you need a minimum deposit of SGD 300. You can refer to the table below for a comprehensive list of welcome bonuses.

Additionally, within the first 12 days from your initial deposit, you’re automatically enrolled in Plus500’s Rebates Program. CFD rebates are credited to your account at the end of each week.

7. IG Group Top CFD Platform For Cryptocurrency Trading

IG Group

Forex Panel Score

81

Average Spread

EUR/USD = 1.13
GBP/USD = 1.66
AUD/USD = 1.01

Trading Platforms

MT4, IG Trading Platform,
L2 Dealer, ProRealTime

Minimum Deposit

$0

Why We Recommend IG Group

We liked IG Markets as the go-to platform for cryptocurrency trading, especially if you’re based in Singapore. They offer free trades on eight major digital currencies like Bitcoin, Ethereum, and Litecoin. IG Markets is a part of the established IG Group Holdings Plc, with a trading history dating back to 1974 and operations across 16 countries on five continents. If you’re keen to dive into the crypto world, this platform provides variety and the backing of a time-tested, multi-regulated broker.

Pros & Cons

  • Offers a range of popular cryptocurrencies
  • Provides good trading tools
  • IG trading platform is user-friendly
  • High minimum deposit
  • No social trading tools
  • MT4 has limited access to some trading products

Broker Details

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.

Top Cryptocurrency Trading

IG Group 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 only pay the spread).

Based on our testing of IG’s demo account, we found you can trade Bitcoin with a low minimum spread of 36 points and a minimum margin requirement of 20% using the MT4 platform.

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.

Excellent Trading Platforms

You can trade IG Group’s range of CFD markets via its expansive suite of trading platforms including its own Web-based platform (Webtrader), MT4, L2 Dealer and ProRealTime.