Currency trading in Singapore requires a MAS regulated foreign exchange broker with the best Singapore forex brokers offering low spreads, CFDs and MT4.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
Top 8 Singapore Forex Brokers
Our September 2023 best forex trading platform Singapore list is:
| Broker | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
8.50 |
ASIC, CYSEC FSC, FSA |
1.0 | 1.3 | 1 | 0.2 | 0.5 | 0.2 | $3.50 |
|
|
|
144ms | $0 | 49+ | 14+ | 30:1 | 500:1 |
|
|
9.00 |
ASIC, SCB FCA,CySEC |
1.0 | 1.0 | 1.2 | 0.06 | 0.73 | 0.27 | $3.50 |
|
|
|
143ms |
$250 (Raw) $500 (Standard) |
40+ | 250+ | 500:1 | 500:1 |
|
|
9.33 |
SCG, ASIC FCA, CySEC |
1.10 | 1.40 | 1.20 | 0.1 | 0.6 | 0.3 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
|
8.17 |
NFA, CFTC, CBI ASIC, FCA, MAS CIRO, JFSA |
- | - | - | - | 0.08%-0.2% |
|
|
|
110ms | $0 | 100+ | - | 30:1 | 500:1 |
|
||
|
7.17 |
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 |
|
|
6.83 | 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 |
|
|
6.67 |
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 |
|
|
6.0 |
ASIC, FINMA FCA, MAS |
1.20 | 1.8 | 0.9 | - | - | - | - |
|
|
|
135ms | $2000 | 209+ | 9+ | 50:1 | 50:1 |
|
Our team compared the best forex brokers for Singaporean traders factoring in spreads, execution speeds, trust and forex platforms. Below lists the overall winner and then other brokers with strengths in a particular area from scalping to CFDs.
The lowest fee accounts offered by forex brokers are called RAW accounts (formally ECN accounts). Brokerage is a combination of the spread (set by the market) and a commission set by the broker with the main fee element the latter. With commission so important, we compared the best forex broker and found GO Markets to have the lowest commission.
| Commissions | USD | GBP | AUD | EUR | CHF | SGD | HKD | CAD | JPY | NZD |
|---|---|---|---|---|---|---|---|---|---|---|
| GO Markets | $2.50 | £2.00 | $3.00 | €2.00 | 2.50 | $3.50 | $20.00 | $3.00 | N/A | $3.50 |
| FP Markets | $3.00 | £2.25 | $3.50 | €2.75 | N/A | $3.50 | $20.00 | $3.50 | 250 | N/A |
| Admiral Markets | $3.00 | £2.40 | $4.00 | €2.60 | 3.00 | N/A | N/A | N/A | N/A | N/A |
| IC Markets | $3.50 | £2.50 | $3.50 | €2.75 | 3.30 | $4.50 | $27.13 | $3.50 | 350 | $4.50 |
| AxiTrader | $3.50 | £2.25 | $3.50 | €3.25 | 3.63 | $5.00 | $22.25 | $4.50 | 425 | $5.50 |
| Pepperstone | $3.76 | £2.20 | $3.50 | €2.61 | 3.30 | $4.55 | $28.17 | $3.50 | 303 | $4.75 |
| FXTM | $4.00 | £4.00 | $4.00 | €4.00 | N/A | N/A | N/A | N/A | N/A | N/A |
| XTB | $4.00 | £3.00 | N/A | €3.50 | N/A | N/A | N/A | N/A | N/A | N/A |
| London Capital Group | $5.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dukascopy | $5.00 | £3.50 | N/A | N/A | 4.00 | N/A | N/A | N/A | N/A | N/A |
| ATC Broker | $5.00 | £3.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| IG | $6.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
To clarify, GO markets charge $3.50 SGD (or $2.50 USD) which is the lowest and also has:
The factors above are why we named the best Singapore forex brokers in 2023.
GO Markets ReviewVisit GO Markets
The trading account discussed above is the GO Plus+ but there is also a standard account. The latter is more suited towards beginners with fewer moving parts with no commission added to trades but costs are overall higher. Most traders opt for the commission-based GO Plus+ with lower spreads from as low as 0 pips. This account is suited for more experienced traders, who are used to factoring in commission costs whilst trading. It is also recommended for high volume and EA (expert advisor) traders, given the lower spreads available.
You can fund your account with a number of base currencies, including SGD, USD, AUD and EUR. Scalping, hedging and automation are all permitted for day traders and algorithmic traders out there.
GO Markets offers a good range and selection of tradeable products, with particular emphasis on shares. You can trade over 100 forex pairs, indices, commodities, bonds and cryptos products with the Australian forex firm. It is with their equities offering, however, that GO Markets stands out.
You can trade over 1190 share CFDs across major Australian, US, European and Hong Kong stock exchanges. If you are an Australian trader, however, you can trade over 2500 ASX shares and ETFs (Exchange Traded Funds) which really is a value add. Shares are tradeable as either spot or CFDs.
You can trade with leverage of up to 1:30 for all products, which is lower than most brokers offer.
GO Markets offers the full MetaTrader suite with a difference. Not only can you trade with two of the most popular trading platforms out there, MT4 and MT5, but you also have access to Genesis, a powerful MetaTrader upgrade.
MetaTrader Genesis is a full suite of tools that enhances the power of the MT4 and MT5 platforms. Key Genesis features include a correlation trader, sentiment indicator and market manager to spot new trading opportunities, gain market insights and effectively manage your trading positions.
GO Markets also has its own platform, GO WebTrader, which is a web-based MT4 and MT5 platform letting you place and monitor trades. This platform is for those that don’t want to download the MT4 + MT5 apps.
GO Markets also gives you access to specialist platforms including Trading Central and AutoChartist. Trading Central is a decision-support platform with sophisticated analysis tools and AutoChartist helps identify chart patterns using technical indicators (such as fibonacci retracements).
The most important factor when choosing a broker is fees and the GO Plus+ is the best option for Singapore traders with the lowest spreads. The broker also has outstanding liquidity, fast execution speeds and one of the best MetaTrader forex trading setups. The broker is based in Australia with ASIC regulation and has customer service to cater for the region. These factors combined led them to be named the best Singapore forex broker winner.
GO Markets ReviewVisit GO Markets
Eightcap is a trusted and well-renowned online forex broker, with the top selection of over 250 cryptocurrency products. No other broker can compete with this extensive crypto product range. Other Eightcap benefits include:
Eightcap has two main accounts for retail traders:
Standard is Eightcap’s commission-free account while Raw is commission-based. Only Standard allows you to use all four major trading platforms, while Raw doesn’t offer TradingView as an option.
Eightcap’s Standard account offers forex spreads from 1 pip at $0 commissions. As such, this account is suited for beginners with fewer trading costs to consider.
The Raw account has the lowest spreads of the two, starting at 0 pips for EUR/USD with commissions of SGD $7 round-turn. This is around the industry standard for a commission-based account. Raw is recommended for experienced traders who seek the cheapest spreads and can work out the commission-spread trade-off.
The minimum deposit for both accounts is $100. You can fund both accounts with the local Singapore dollar, in addition to other major currencies.
Eightcap offers a solid, all-around range of products, from forex to indices to commodities. The broker particularly stands out with its stock and cryptocurrency range. You’ll be able to trade 400 stocks across the major US, Australian and European exchanges. For cryptocurrencies, Eightcap offers over 250 tradeable instruments, which is the biggest selection of crypto products of any broker.
It’s important to note, to trade the full range of stocks and crypto products, you’ll need to use MT5 due to the ability to trade on centralised exchanges.
Eightcap offers a great range of trading platforms, including specialised platforms not offered by other brokers.
The main four platforms are MetaTrader 4, MetaTrader 5, TradingView and Capitalise.ai. Eightcap also offers specialist platforms, FX Blue Labs, CryptoCrusher and The Amazing Trader.
MT4 is widely regarded as the most popular forex trading platform on the market. MT5, meanwhile, is an upgrade MT4, offering more charting tools (as highlighted below) and the ability to trade on centralised exchanges. The latter point means you can trade Eightcap’s full range of products on MT5.
TradingView is another great trading platform, which specialises in charting tools, with over 100 technical indicators and over 50 analytical indicators. The one downside is TradingView doesn’t allow you to use EAs (expert advisors) for algorithmic trading.
Capitalise.ai is a useful algorithmic platform that allows you to automate your trading without any coding experience. It can be linked with MT4 or MT5 to use as an additional algo platform.
In terms of additional platforms, FX Blue Labs gives you access to several trading apps including Figaro and connectivity to a MetaTrader Integration Suite (MTIS). CryptocCrusher is a crypto specialist platform while The Amazing Trader is a charting platform with built-in risk management.
Overall, Eightcap is a solid choice for a forex broker, offering tight spreads, a great choice of trading platforms and the top range of cryptocurrencies.
Pepperstone is one of the best brokers in the world because of their policy to have some of the lowest forex spreads, which can be attributed to:
Disclaimer – Pepperstone accepts Singapore traders but is not MAS regulated. It has ‘tier 1’ regulation in the UK (FCA), Australia (ASIC), Europe (CySEC), Germany (BaFin), and Dubai (DFSA), as well as financial licenses in Kenya (CMA) and the Bahamas (SCB). They offer Singapore Dollar (SGD) base currency trading accounts.
Pepperstone offers the lowest foreign exchange trading spreads. The below forex comparison compares the leading forex brokers that publish their average spreads on their websites. The FX broker achieves low spreads through access to deep liquidity pools and other financial institutions.
Pepperstone promotes commission-free spreads starting from 1.0 pips via its Standard Account. As per below, the broker’s average spreads are very competitive across the board. With no commission fees on top of the spread, Singaporean traders’ can access some of the best pricing worldwide via Pepperstone’s Standard Account.
|
|
|||||
|---|---|---|---|---|---|
|
1.00 | 1.00 | 1.20 | N/A | 1.10 |
|
1.10 | 1.20 | 1.40 | 2.00 | 1.50 |
|
0.70 | 2.20 | 1.10 | 1.60 | 1.60 |
|
1.90 | 2.00 | 2.40 | 2.30 | 2.50 |
|
1.40 | 2.50 | 2.50 | 2.60 | 2.60 |
|
1.20 | 1.80 | 1.90 | 2.30 | 2.30 |
|
1.32 | 1.95 | 1.37 | 1.87 | 1.73 |
|
1.30 | 1.70 | 2.10 | 1.70 | 2.10 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Compare Standard Account Spreads
The online broker’s Razor account offers an institutional-grade trading environment with straight-through processing with fast execution speeds. Using deep liquidity sources, Pepperstone provides ECN style spreads that start from 0.0 pips and average as low as 0.09 pips plus commission fees.
|
Pepperstone Spreads
|
|||||
|---|---|---|---|---|---|
|
|
0.20 | 0.20 | 0.40 | N/A | 0.30 |
|
0.06 | 0.27 | 0.42 | 0.59 | 0.20 |
|
|
0.12 | 0.22 | 0.40 | 0.43 | 0.50 |
|
0.10 | 0.20 | 0.30 | 0.50 | 0.30 |
|
0.44 | 0.42 | 0.40 | 0.30 | 0.83 |
|
0.17 | 0.30 | 0.54 | 0.68 | N/A |
|
0.20 | 0.40 | 0.50 | 0.70 | 0.70 |
|
0.10 | 0.50 | 0.60 | 0.80 | 1.10 |
|
|
n/a | 0.50 | 0.60 | 0.40 | 0.30 |
|
0.44 | 1.23 | 1.13 | 1.23 | 1.41 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Please note, average spreads are sourced directly from the forex broker’s website and updated monthly by the CompareForexBrokers team.
Pepperstone’s Razor account charges a commission in addition to their low spreads. The MetaTrader 4 and 5 rates vary by base currency selected:
If you are using cTrader, commission fees are based on the FX pair being traded. The formula used to calculate cTrader commission is 0.0035% of the base currency that is being traded, i.e. if you are trading 100,000 units of the SGD/NZD, you will be charged $3.50 SGD when both opening and closing the position.
VIP traders can also join the active trader program offers additional commission rebates. The calculator below compares the overall forex brokerage based on spreads and commissions of three leading forex brokers in Singapore. It highlights how competitive the broker is when it comes to fees.
Calculate Your Trading Costs Below
Total Fees
Commission
Spread Costs
Total
Total Fees
Commission
Spread Costs
Total
Total Fees
Commission
Spread Costs
Total
Total Fees
Commission
Spread Costs
Total
The Pepperstone minimum deposit requirement is SGD $200. There are no fees when depositing funds via payment methods such as debit cards and credit cards (Visa, MasterCard), PayPal, Skrill and Union Pay. Only bank transfers incur funding fees charged by the financial institution up to $20. Withdrawal methods need to match the deposit with no fees charged.
Overall, Pepperstone is the best choice for Singapore Forex Traders looking to minimise their forex brokerage. They offer the MetaTrader 4, MetaTrader 5 and cTrader forex trading platform and have won several awards for customer service and client satisfaction.
In 2021 Interactive Brokers (IBKR) launched in Singapore with:
IBKR is the only true ECN forex broker in Singapore. This means they offer straight-through processing of orders with no dealing desk. The result is that individuals are directly trading with liquidity providers and other IBKR which means there are no mark-ups on spreads. Below provides a 2023 example of a live spread scenario with minimal spreads on major currency pairs.
With no mark-up on spreads, IBKR charges commissions based on trading volume. This starts at 0.20 basis points and for high-volume traders is 0.08 basis points (the lowest of CFD firms worldwide).
| Interactive Brokers | Saxo Capital | IG | |
|---|---|---|---|
| GBP/USD | 0.1 pips + $2USD/lot | 0.2 pips + $2USD/lot | 0.9 pips + $2USD/lot |
| EUR/USD | 0.1 pips + $2USD/lot | 0.2 pips + $2USD/lot | 0.6 pips + $2USD/lot |
| AUD/USD | 0.1 pips + $2USD/lot | 0.4 pips + $2USD/lot | 0.6 pips + $2USD/lot |
| USD/CHF | 0.1 pips + $2USD/lot | 0.8 pips + $2USD/lot | 1.5 pips + $2USD/lot |
| NZD/USD | 0.1 pips + $2USD/lot | 0.8 pips + $2USD/lot | 2.0 pips + $2USD/lot |
| EUR/GBP | 0.1 pips + $2USD/lot | 0.6 pips + $2USD/lot | 0.9 pips + $2USD/lot |
Further discounts are available for active traders. As the table below highlights, the commission can be halved for high trading volume monthly traders. This further cements IBKR as the lowest fee CFD broker operating from Singapore. Accounts over $100k USD have no inactivity fees if no trades occur over an extended period.
Rather than use standard platforms, IBKR has a strong focus on technology and has four key forex trading platforms:
A unique feature of IBKR is the wide range of financial services offered (not just currency trading). The most popular is the stockbroking service on trade shares on global markets. Other options include trading on future markets, bonds to investment services.
Having received an in-principle licence last year with the Monetary Authority of Singapore, it’s launching in 2022. The company was founded in 1997 and is one of the largest in the world and is listed on the Nasdaq. Current licenses include the UK (FCA), USA (CFTC), Canada (IIROC), Australia (ASIC), India (BSE), Hong Kong (HK SEC) and Japan (FSA). The minimum deposit requirement of IBKR is $0.
Individuals looking to start trading currency with the option of also trading shares should consider IBKR. They operate under MAS regulation with their Singapore licence number CMS100917.
IBKR has the lowest brokerage and widest range of financial services.
Traders looking for a Singapore ECN broker that offers straight-through processing (STP) across global markets achieving fast execution speeds and low spreads should choose IBKR.
Like CMC Markets, City Index offers traders an extremely wide range of underlying assets. In addition to 84 currency pairs, traders using City Index can engage in stock trading by way of CFD derivatives and in the UK offer spread betting. Commodities, metals, indices and cryptocurrencies round out City Index’s offerings, which amount to a total of over 4,500 underlying assets. Forex brokerage spreads offered by CMC markets start from just 0.5 points, making it an appealing platform for traders looking for low-cost investor accounts.
Although a range of trading platform options are offered by City Index such as WebTrader and AT PRO, MetaTrader 4 remains the most popular trading platform for forex traders mainly due to its Expert Advisor functionality and professional-grade interface.
City Index clients’ can use MetaQuotes MQL4 language to create automated trading strategies, or alternatively, download and employ EAs developed by more experienced traders.
In addition to Expert Advisor compatibility, City Index clients’ can develop sophisticated orders and trading strategies with MT4’s comprehensive charting features and trading tools, while staying up to date with market news with the customisable economic calendar. All of these aspects make City Index one of the best forex brokers in Singapore.
The Next Generation forex trading platform offered by CMC offers:
What makes CMC Markets the top CFD broker when it comes to risk management is they don’t charge fees for selecting a guaranteed stop-loss order (GSLO) if it isn’t executed. You can cancel a GSLO or switch to a regular stop-loss order or trailing stop-loss order at any time to avoid the fees.
The CMC Markets next generation forex platform offers 10,000+ underlying Forex and CFD assets. With 330 currency pairs, CMC Markets gives traders access to both majors and exotics, a fact that many advanced Forex traders are sure to appreciate. Other markets CMC Markets offer include:
Any Singapore trader who is looking to trade CFDs on a large range of markets with in-built and premium risk management tools should consider CMC Markets.
Saxo Capital Markets is a well-known, high-end top forex broker. Saxo Capital Markets holds a MAS Capital Services License, making them a great option for Singaporean retail investors’. In addition to providing access to foreign exchange markets, traders can also place CFD orders derived from stocks, commodities and ETFs.
Saxo Capital Markets is a high-end brokerage that offers 180 currency pairs with spreads as low as 0.4 points. In addition to these strong offerings in the Forex market, Saxo also gives traders access to CFDs derived from stocks, commodities and ETFs. This is perfect for traders that are looking to hedge their positions and offset some liability.
Saxo Capital Markets offers two trading platforms depending on the traders’ needs and experience. For those new to forex trading, SaxoTraderGO offers an intuitive interface that is simple to navigate and place orders. Users’ can easily conduct fundamental and technical analysis with the top foreign exchange brokers’ range of real-time charts and signals. Additionally, Saxo Markets in-house analysts provide news about market movements and economic events. The trading platform is available as a mobile platform (compatible with Android and iOS), or a WebTrader platform.
For active, experienced forex traders’, SaxoTraderPRO provides a multiscreen workstation with a range of advanced trading tools and features. As well as SaxoTraderPRO’s algorithmic trading functions and complex order types, users’ can place orders based on Level 2 Market Depth. The professional-grade platform can be downloaded as a desktop trading platform, or on Android and iOS devices.
IG offers spreads from 0.6 pips on major currency pairs and is therefore on par with competitors’ CMC Markets and City Index. Although IG provides market access to over 15,000 financial instruments, only 95 currency pairs are offered. Therefore, IG is an excellent option for traders’ wanting to build a diversified portfolio that does not focus purely on the forex market. As well as currency pairs, users’ can trade Cryptocurrency, ETF, Commodity, Bond, and Index CFDs. Option and Stock trading is restricted to certain countries, with Singaporean clients’ unable to place orders on these financial assets.
IG is an top option for users’ wanting to familiarise themselves with Forex and CFD trading. As well as a demo account, IG clients’ are able to develop trading strategies and enhance technical analysis via the CFD broker’s trading platform tutorial and educational materials.
Established in the United Kingdom in 1974, IG has a long-standing reputation as one of the leading foreign exchange brokers regulated by the Monetary Authority of Singapore. In addition to MAS regulation, IG is overseen by various international financial authorities such as the FCA (Financial Conduct Authority, UK) and FMA (Financial Markets Authority, NZ).
When it comes to trading Forex, leverage is an important component of choosing a broker. Few retail-level traders can successfully turn a profit without relatively high leverage rates, as the movement between currency exchange rates is usually very small on a day-to-day basis. Even major changes in central bank policies tend to produce movements that are too small for traders without ample capital to profit from. This means that all trades must be leveraged if they are to yield reasonable returns. Following are the leverage rates of the five brokers that are listed above:
Keep in mind that leverage will vary by the currency pair being traded, as not all pairs are eligible for the maximum leverage ratio offered by a broker.
To find the right Singapore Forex broker for your personal needs as a trader, there are several factors you’ll need to take into account. First and foremost, you should determine what your own goals and strategies are. If you intend to trade only major Forex pairs, for example, the availability of minors and exotics will not be as useful to you as it might be to other traders. Likewise, if you plan to trade CFDs extensively in addition to Forex currency pairs, it’s important to find a broker that offers contracts on the assets you want to trade in.
Next, you’ll want to consider the platform that you will use to trade. In order to be as functional as possible, it’s important that the trading platform and its charts are intuitive to you as a trader. A confusing platform can lead to frustration and lead to a poor trading experience.
Leverage is also a factor you will want to give serious consideration to in picking a platform. If you are a trader who prefers very high rates of leverage, you will want to select a platform that will give you the lowest possible margin requirements on your trades. Many traders, however, find excessive leverage to be too risky. For this type of trader, a platform with more modest leverage ratios can be an ideal solution.
Finally, you will need to take spreads and costs into account. Needless to say, the amount of money it costs you to trade will have a considerable impact on your overall rate of return as a trader. However, don’t choose a broker based exclusively on spreads, as a brokerage that has slightly higher spreads can compensate for that disadvantage in other ways.
If you want to be sure you’re picking the best foreign exchange broker, the best way to do it is to open a demo account before opening a live trading account. Using a demo account, you can learn the broker’s platform and get a feel for the leverage ratios and spreads offered by that broker. Once you feel confident trading on your demo account, you can simply upgrade to a live account, fund it and begin executing trades with real money. Going through a period of using a demo account is especially helpful for beginning Forex traders. This allows them to learn and implement different trading strategies without risking real money in the Forex market while they are still learning the ropes.
Open a demo accountVisit CMC Markets
Regulation is the best way to know if a CFD broker can be trusted. In Singapore, the regulator is the Monetary Authority of Singapore (MAS). Other core regulators around the world are ASIC (Australia’s regulator) and FCA (UK’s regulator).
You can view the complete SG trading page for a list of MAS, ASIC and FCA regulated CFD brokers to ensure they are reliable and trustworthy.
Yes, forex trading is legal, but the regulator MAS (Monetary Authority of Singapore) has placed some modest restrictions. These are imposed on regulated CFD providers and range from automation and margin requirements.
You can view our recommended best broker for Singapore residences to start currency trading.
The best FX broker for beginner forex traders in Singapore is Plus500. This is based on their forex trading platform, low minimum deposit, customer service, and risk management features. You can view the full Plus500 review for more details on this beginner broker.
In Singapore, regulated brokers are governed by the Monetary Authority of Singapore (MAS). MAS was founded in 1971 as Singapore’s Central Bank Regulator and when choosing a foreign exchange broker, proper regulation is an important element. This is due to the high-risk nature of the Forex market and the potential that exists for traders to lose money due to leverage allowed by the broker. This should be factored in when Trading CFDs in Southeast Asia as negative balance protection is not guaranteed by any regulator in the region.
MAS regulated brokers also offer the Singapore Dollar (SGD) base currency option, which can save on exchange costs when trading. Other forex broker regulatory bodies around the world range from:
We have more comparisons for different types of traders that are based in Singapore. Just navigate back to the compare forex broker homepage section.
Ask an Expert
Is forex trading illegal in Singapore?
N0, forex trading is legal in Singapore however it is highly recommended to use a broker that is regulated by Singapore’s financial regulator known as the the Monetary Authority Singapore (MAS).
Brokers regulated by this authority include Oanda, CMC Markets, Swissquote, Plus500
What is the most popular commodity traded through Singapore CFD brokers? What leverage can I get trading it?
Gold is the most popular commodity to trade with Singapore CFD brokers. The leverage available is 5:1 (20% initial margin). Other commodities such as Silver, Oil also have the same leverage.