Best Forex Trading Platform For Beginners: Singapore

Here are our top trading platforms for beginner traders from MAS regulated brokers

  • City Index City Index - Best Trading Platforms For Beginners Overall
  • oanda logo Oanda - Top MetaTrader 4 Platform For Beginner Traders
  • Saxo Markets Saxo - Offers Good Range of Financial Instruments
  • eToro eToro - Best Beginner Platform For Social Trading
  • CMC Markets CMC Markets - Top Beginner Platform for Risk Management
  • interactive brokers logo Interactive Brokers - Good WebTrader Platform
  • IG IG - Top Choice For CFD Range for Beginner Traders

City Index
Oanda
Saxo Capital Markets
eToro
CMC Markets
Our Rating
6.83
7.33
6.0
7.17
7.17
73% of retail CFD accounts lose money
76.6% of retail investor accounts lose money when trading CFDs
69% of retail investor accounts lose money when trading CFDs with this provider
68% of retail investor accounts lose money when trading CFDs with this provider.
73% of retail investor accounts lose money when
spread betting and/or trading CFDs with this provider

Regulations and Licenses

Feature
City Index
Oanda
Saxo Capital Markets
eToro
CMC Markets
MAS (Singapore)
FSA (Seychelles)

Brokerage

Feature
City Index
Oanda
Saxo Capital Markets
eToro
CMC Markets
EUR/USD Avg. Raw Spread
-
-
-
-
-
GBP/USD Avg. Raw Spread
-
-
-
-
-
AUD/USD Avg. Raw Spread
-
-
-
-
-
EUR/USD Standard Spread
0.80
1.1
1.10
3.00
-
EUR/USD Fixed Spreads
-
-
-
-
-
Commissions (USD Base)
-
$3.50
-
-
-
Minimum Deposit
$150
$0
$2000
$200
$0
Swap Free Account
No Inactivity Fees
Funding Methods
6+
6+
5+
11+
6+
No Funding Fees

Markets and Instruments

Feature
City Index
Oanda
Saxo Capital Markets
eToro
CMC Markets
Currency Pairs
84+
70+
209+
49+
338+
Cryptocurrency CFDs*
25+
4+
9+
46+
19+
Index CFDs
21+
16+
-
13+
46+
Share CFDs
4500+
-
30,000+
2000+
9,000+
Commodities CFD
46+
34+
19+
33+
124+
Stockbroking
-
-
-
2000+
9,000+
Retail Max. Leverage (Singapore)
Major Pairs 20:1
Minor Pairs 10:1
Major Pairs 20:1
Major Pairs 20:1
Minor Pairs 16:1
-
Major Pairs 20:1
Minor Pairs 10:1
Pro. Max. Leverage (Singapore)
50:1
100:1
-
-
500:1
Retail Max. Leverage (With offshore regulators)
-
100:1
50:1
400:1
Major Pairs 30:1
Minor Pairs 20:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
City Index
Oanda
Saxo Capital Markets
eToro
CMC Markets
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account
Unique Feature
Trade in 4,500 markets
Fast Execution
CFD and Underlying assets for trade
CopyTrader functionality
for automated trading
Offers both CFD and Stock trading

Overall

City Index
Oanda
Saxo Capital Markets
eToro
CMC Markets