The 13 brokers on this page, ranked
Ordered by score, highest first, global and desk scores together, as on our list of sixteen, where eight scores come from our global testing and eight were scored from each firm's published Singapore information through the same eight categories, without order-speed tests; on this page, eight carry a global score and five a desk score. The phrase beside each name comes from that firm's Singapore record; its place in the list comes from its score.
- OANDA - MT4, MT5 and TradingView platforms
- MultiBank Group - Standard, Pro and ECN accounts
- IG - ProRealTime and L2 Dealer platforms
- CMC Markets - Pre-IPO, options and share basket CFDs
- Interactive Brokers - Deposit and trade in up to 29 currencies
- Saxo - Classic, Platinum and VIP account tiers
- Plus500 - Demo with unlimited virtual funds
- eToro - Funding by PayPal, Skrill or Neteller
- Phillip Nova - NOVA, Phillip MT5 and TradingView
- Phillip Securities (POEMS) - 10 currency ledgers
- KGI Securities - KGI MaxxTrader beside MetaTrader 4
- OCBC Securities (iOCBC) - iOCBCfx and FIX API platforms
- Maybank Securities (Maybank Trade) - Currenex platform for Maybank Forex
Which 13 brokers on our MAS-licensed list offer a forex demo account in Singapore?
OTC derivatives, FID
1. OANDA: MT4, MT5 and TradingView platforms
Live account minimum deposit, as stated: S$0, no minimum to open
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Learn how to open an account with us, deposit or withdraw funds and more. Create account Demo account | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | 0.8 pips, advertised minimum, Spread only account | Singapore site, 24 September 2026 |
| MAS licence (FID) | OANDA Asia Pacific Pte. Ltd.: leveraged forex not listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
2. MultiBank Group: Standard, Pro and ECN accounts
The score is MultiBank Group's global score; the Singapore entity is MEX Global Markets Pte. Ltd.
Live account minimum deposit, as stated: US$50, minimum initial deposit, Standard; US$10,000, minimum initial deposit, ECN (compare page); US$5,000, minimum initial deposit, ECN (live-account page)
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Open a free demo account | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | Not published on the Singapore site | Singapore site searched |
| MAS licence (FID) | MEX Global Markets Pte. Ltd.: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
OTC derivatives, FID
3. IG: ProRealTime and L2 Dealer platforms
Demo terms, as stated: $200,000 in virtual funds
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Practise trading with $200,000 virtual funds | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | 0.6 pips, advertised minimum, IG CFD account | Singapore site, 24 September 2026 |
| MAS licence (FID) | IG Asia Pte Ltd: leveraged forex not listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
4. CMC Markets: pre-IPO, options and share basket CFDs
Live account minimum deposit, as stated: No stated minimum; funds needed to open a position
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | our free demo account will allow you to practise trading with virtual funds | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | 0.5 pips, advertised minimum, CFD (Next Generation) account | Singapore site, 24 September 2026 |
| MAS licence (FID) | CMC Markets Singapore Pte Ltd: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
5. Interactive Brokers: deposit and trade in up to 29 currencies
Demo terms, as stated: Paper Trading
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Paper Trading Try IBKR risk-free with simulated funds. | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | Not published on the Singapore site | Singapore site searched |
| MAS licence (FID) | Interactive Brokers Singapore Pte. Ltd.: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
6. Saxo: Classic, Platinum and VIP account tiers
Demo terms, as stated: 20 days, USD 100,000 in virtual funds
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Sign up for a 20-day demo account to try out trading in our platform with a simulated USD 100,000. | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | 0.8 pips, advertised minimum, Classic account | Singapore site, 24 September 2026 |
| MAS licence (FID) | Saxo Capital Markets Pte. Ltd.: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
OTC derivatives, FID
7. Plus500: demo with unlimited virtual funds
Demo terms, as stated: unlimited in virtual funds
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Try our free demo account with unlimited virtual funds | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | Not published on the Singapore site | Singapore site searched |
| MAS licence (FID) | Plus500SG Pte. Ltd.: leveraged forex not listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
8. eToro: funding by PayPal, Skrill or Neteller
Demo terms, as stated: $100K in virtual funds
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | $100K Demo Account | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | Not read: its Singapore spread page did not load | Singapore site, did not load, 24 September 2026 |
| MAS licence (FID) | eToro Singapore Pte. Ltd.: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
9. Phillip Nova: NOVA, Phillip MT5 and TradingView
Scored on six of eight categories; blank: trading costs and trading experience.
Demo terms, as stated: 30 days (NOVA)
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Get your free demo account in minutes Experience our trading platforms firsthand and practice your strategies risk-free with a demo account. | Singapore site, 24 September 2026 |
| Demo account, as the Singapore site states it | Request a 30-day FREE demo The Phillip Nova demo request form is currently under maintenance. | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | 0.6 pips, advertised minimum, Phillip MT5 account | Singapore site, 24 September 2026 |
| MAS licence (FID) | Phillip Nova Pte. Ltd.: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
OTC derivatives, FID
10. Phillip Securities (POEMS): 10 currency ledgers
Scored on five of eight categories; blank: trading costs, trading experience and customer service.
Live account minimum deposit, as stated: S$0, no minimum to open a CFD account
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Register for a free POEMS CFD MT5 Demo Trading Account. | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | 0.3 pips, advertised minimum, FX CFD account | Singapore site, 24 September 2026 |
| MAS licence (FID) | Phillip Securities Pte Ltd: leveraged forex not listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
11. KGI Securities: KGI MaxxTrader beside MetaTrader 4
Scored on six of eight categories; blank: trading costs and trading experience.
Live account minimum deposit, as stated: US$10,000, minimum initial deposit, individual and joint accounts
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | Register for a free demo account to practice in a risk-free environment before you start trading. | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | EUR/USD not named; major pairs from 1 pip, advertised minimum | Singapore site searched |
| MAS licence (FID) | KGI Securities (Singapore) Pte. Ltd.: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
12. OCBC Securities (iOCBC): iOCBCfx and FIX API platforms
Scored on six of eight categories; blank: trading costs and trading experience.
Demo terms, as stated: 1 month
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | We offer a free 1-month demo account with US$100,000 virtual funds. | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | Not published on the Singapore site | Singapore site searched |
| MAS licence (FID) | OCBC Securities Private Limited: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
Leveraged forex and OTC derivatives, FID
13. Maybank Securities (Maybank Trade): Currenex platform for Maybank Forex
38.1/100
#13 of 13
on this page
Scored on seven of eight categories; blank: trading experience.
Live account minimum deposit, as stated: S$0, no minimum sum to open a live account; funds for a 1,000 notional position needed to trade
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as the Singapore site states it | To open a Maybank Forex Demo Account, please fill in the form below. | Singapore site, 24 September 2026 |
| Advertised EUR/USD spread | 1.3 or 1.0 pips, advertised typical (two of its pages differ), Maybank Forex account | Singapore site, 24 September 2026 |
| MAS licence (FID) | Maybank Securities Pte. Ltd.: leveraged forex listed, OTC derivatives listed | FID, 24 September 2026 |
Demo accounts at the 13 brokers, side by side
When you compare, weigh how long each demo lasts, how much virtual money it carries, and whether it runs on the platform you intend to trade live. I would also look at the advertised EUR/USD spread of each live account, because the spread is what each trade costs once you go live, and I would pick the broker whose demo terms match how you plan to trade.
| Broker | MAS entity (FID) | Demo account, as the Singapore site states it | Advertised EUR/USD spread and basis | Source |
|---|---|---|---|---|
| OANDA MT4, MT5 and TradingView platforms | OANDA Asia Pacific Pte. Ltd. | Learn how to open an account with us, deposit or withdraw funds and more. Create account Demo account | 0.8 pips, advertised minimum, Spread only account | Singapore site, 24 September 2026 |
| MultiBank Group Standard, Pro and ECN accounts | MEX Global Markets Pte. Ltd. | Open a free demo account | Not published on the Singapore site | Singapore site, 24 September 2026 |
| IG ProRealTime and L2 Dealer platforms | IG Asia Pte Ltd | Practise trading with $200,000 virtual funds | 0.6 pips, advertised minimum, IG CFD account | Singapore site, 24 September 2026 |
| CMC Markets Pre-IPO, options and share basket CFDs | CMC Markets Singapore Pte Ltd | our free demo account will allow you to practise trading with virtual funds | 0.5 pips, advertised minimum, CFD (Next Generation) account | Singapore site, 24 September 2026 |
| Interactive Brokers Deposit and trade in up to 29 currencies | Interactive Brokers Singapore Pte. Ltd. | Paper Trading Try IBKR risk-free with simulated funds. | Not published on the Singapore site | Singapore site, 24 September 2026 |
| Saxo Classic, Platinum and VIP account tiers | Saxo Capital Markets Pte. Ltd. | Sign up for a 20-day demo account to try out trading in our platform with a simulated USD 100,000. | 0.8 pips, advertised minimum, Classic account | Singapore site, 24 September 2026 |
| Plus500 Demo with unlimited virtual funds | Plus500SG Pte. Ltd. | Try our free demo account with unlimited virtual funds | Not published on the Singapore site | Singapore site, 24 September 2026 |
| eToro Funding by PayPal, Skrill or Neteller | eToro Singapore Pte. Ltd. | $100K Demo Account | Not read: its Singapore spread page did not load | Singapore site, 24 September 2026 |
| Phillip Nova NOVA, Phillip MT5 and TradingView | Phillip Nova Pte. Ltd. | Get your free demo account in minutes Experience our trading platforms firsthand and practice your strategies risk-free with a demo account. | 0.6 pips, advertised minimum, Phillip MT5 account | Singapore site, 24 September 2026 |
| Phillip Securities (POEMS) 10 currency ledgers | Phillip Securities Pte Ltd | Register for a free POEMS CFD MT5 Demo Trading Account. | 0.3 pips, advertised minimum, FX CFD account | Singapore site, 24 September 2026 |
| KGI Securities KGI MaxxTrader beside MetaTrader 4 | KGI Securities (Singapore) Pte. Ltd. | Register for a free demo account to practice in a risk-free environment before you start trading. | EUR/USD not named; major pairs from 1 pip, advertised minimum | Singapore site, 24 September 2026 |
| OCBC Securities (iOCBC) iOCBCfx and FIX API platforms | OCBC Securities Private Limited | We offer a free 1-month demo account with US$100,000 virtual funds. | Not published on the Singapore site | Singapore site, 24 September 2026 |
| Maybank Securities (Maybank Trade) Currenex platform for Maybank Forex | Maybank Securities Pte. Ltd. | To open a Maybank Forex Demo Account, please fill in the form below. | 1.3 or 1.0 pips, advertised typical (two of its pages differ), Maybank Forex account | Singapore site, 24 September 2026 |
More Singapore forex broker pages
The other pages built on our list of sixteen Singapore brokers. The anchor text is each page's own heading.
Best Forex Brokers in Singapore: 16 MAS-Regulated Brokers ComparedAll sixteen brokers on our list, ranked by score.Best Forex Broker for Beginners in Singapore: the 11 Brokers on Our MAS List With a Demo and a Stated Minimum DepositEleven of the sixteen brokers on our list offer a demo account and a stated minimum deposit on their Singapore sites.MetaTrader 4 (MT4) Brokers in Singapore: the 6 Brokers on Our MAS-Licensed List That Offer MT4Six of the sixteen brokers on our list offer MetaTrader 4 on their Singapore sites.MetaTrader 5 (MT5) Brokers in Singapore: the 4 Brokers on Our MAS-Licensed List That Offer MT5Four of the sixteen brokers on our list offer MetaTrader 5 on their Singapore sites.Best CFD Broker in Singapore: the 14 Brokers on Our MAS-Licensed List That Offer CFDsFourteen of the sixteen brokers on our list offer CFDs to retail clients on their Singapore sites.
FAQs
Which forex demo account is best in Singapore?
I would choose OANDA's demo account. OANDA scores 92 out of 100, its global score from our global broker test, and its Singapore site advertises a demo account, which you can open before you fund a live account with OANDA Asia Pacific Pte. Ltd. Your live account opens with no minimum deposit (S$0) (its Singapore site, read 24 September 2026, and our global broker test).
How long does a forex demo account last in Singapore?
It depends on the broker. Saxo's Singapore site states a 20-day demo account. OCBC Securities states a free one-month demo account. Phillip Nova's Singapore site states a 30-day demo for its NOVA platform. I would check the stated terms before you sign up for your demo (each broker's Singapore site, read 24 September 2026).
How much virtual money do forex demo accounts give in Singapore?
It varies by broker. Saxo's Singapore site states a demo account with a simulated US$100,000. OCBC Securities states US$100,000 in virtual funds. Plus500 states a free demo account with unlimited virtual funds. I would pick the balance that suits your practice, and you can compare what each firm states before you register (each broker's Singapore site, read 24 September 2026).
Is a demo account the same as trading a live account in Singapore?
No, a demo lets you practise with virtual funds, while your live account needs margin. Table 18 sets a minimum margin of 5% (20:1) for a retail customer and 2% (50:1) for accredited, expert or institutional investors, and a firm may ask for more. I would treat it as practice (regulation 24A and Table 18, Singapore Statutes Online, read 24 September 2026).
How do I check that a demo account provider is licensed by MAS?
I would start by searching the provider's legal name in the MAS Financial Institutions Directory. FID lists each capital markets services licensee and the permissions it holds, such as dealing in leveraged foreign exchange or over-the-counter derivatives, so you can confirm the entity behind your demo before you register (MAS Financial Institutions Directory, read 24 September 2026).
Related pages
About the author
Justin Grossbard is the CEO & Co-Founder of CompareForexBrokers established in 2014, along with Noam Korbl and works as Strategic Head Of Research.
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