What trading Maybank Securities costs
One standard lot of EUR/USD on Maybank Securities' Maybank Forex (forex product page FAQ) account costs US$10.00 for the round turn: 1.0 pips of spread (US$10.00), with no commission, on the spread the Singapore site advertises (no basis stated) rather than a figure we measured. One standard lot of EUR/USD on Maybank Securities' Maybank Forex (pricing overview) account costs US$13.00 for the round turn: 1.3 pips of spread (US$13.00), with no commission, on the spread the Singapore site advertises "under normal market conditions" rather than a figure we measured.
| Account | A month of trading | One round turn, 1 lot |
|---|---|---|
| Maybank Forex (forex product page FAQ)1.0 pips, advertised, no basis word stated (Singapore site, 24 September 2026) | US$200.00 | US$10.00 |
| Maybank Forex (pricing overview)1.3 pips, advertised, under normal market conditions (Singapore site, 24 September 2026) | US$260.00 | US$13.00 |
A pip on EUR/USD is US$10.00 per standard lot, so the cost of a round turn is the spread in pips times that, plus any commission.
Our verdict on Maybank Securities
Maybank Securities Pte. Ltd. may suit a Singapore trader who wants spot FX on margin with no brokerage fees, funding by PayNow and bill payment, and no minimum sum to open a live account, all under a Capital Markets Services licensee. What would give me pause is the pricing: the firm publishes two EUR/USD spreads on two pages, and I can choose neither for you. Treat the cost of a position as an open question until you have checked both pages against your own trading.
The rating on this page is a desk-based assessment of the firm's published Singapore information and the MAS Financial Institutions Directory. Seven of the eight categories carry a rating, and Trading Experience is blank. Less than half of each blank category could be read from that published information. Nothing on this page was measured by us. Before depositing, check the EUR/USD spread you will actually pay, and the margin requirements the firm sets for each currency pair, on its own Singapore site.
Pros
- Maybank Securities Pte. Ltd. is a Capital Markets Services Licensee and Exempt Financial Adviser on the MAS Financial Institutions Directory.
- The firm states there is no minimum sum requirement to open a live FX account.
- The firm advertises tight spreads and no brokerage fees on FX.
- The firm states withdrawal requests received before 12pm on a working day are processed within 2 working days.
- A Maybank Forex demo account is available, with login details emailed within 3 working days.
Cons
- The firm publishes two different EUR/USD spreads, 1.0 pips and 1.3 pips, on two separate pages.
- The retail FX platform is Currenex, and MT4 appears only as an institutional liquidity bridge.
- Withdrawals are requested by email and paid to a cheque or the client's own bank account.
Desk-based assessment: scored from published information, not tested
Maybank Securities score breakdown
2/5 · Low
Scored on 7 of 8 categories: Trading Experience is not scored.
The desk score is the published category weights renormalised over the 7 of 8 categories scored; Trading Experience is blank.
How is our rating calculated?- Blank: Trading Costs: Standard Tested Spreads, RAW/ECN Tested Spread, Inactivity Fees, Deposit / Withdrawal Fees, Other Fees
- Blank: Trading Experience: Limit Order Speed, Market Order Speed, Ease of Opening, Professional Leverage, the whole category
- Blank: Trust: TrustPilot Score, Publicly Listed
- Blank: Trading Platform: Demo Account Expiry
- Blank: Customer Service: Live Chat, CS Knowledge, Website Experience
- Blank: Range of Markets: Commodities
- Blank: Funding: Base Currencies
Is Maybank Securities safe? MAS licence, Maybank Securities Pte. Ltd.
Yes, Maybank Securities Pte. Ltd. is listed on the MAS Financial Institutions Directory, read on 24 September 2026, as a Capital Markets Services Licensee and an Exempt Financial Adviser.
| Fact | What the record says | Source |
|---|---|---|
| Legal name on FID | Maybank Securities Pte. Ltd. | MAS Financial Institutions Directory, read 24 September 2026 |
| Licence types on FID | Capital Markets Services Licensee, Exempt Financial Adviser | MAS Financial Institutions Directory, read 24 September 2026 |
| Products FID lists under Dealing In Capital Markets Products | Securities; Collective Investment Schemes; Exchange-Traded Derivatives Contracts; Over-The-Counter Derivatives Contracts; Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading | MAS Financial Institutions Directory, read 24 September 2026 |
| FID record last updated | 1 September 2026 | MAS Financial Institutions Directory, read 24 September 2026 |
| MAS enforcement actions and media releases naming the entity as subject | None found, searched 24 September 2026 | MAS enforcement actions and media releases, searched 24 September 2026 |
| Entity printed on the Singapore site | Maybank Securities Pte. Ltd. | Firm's Singapore site, read 24 September 2026 |
Maybank Securities Pte. Ltd. is the firm you would contract with, and the entity printed on its own Singapore site matches the directory entry. That match is the first check I would run on any broker before you fund an account, and here it holds.
What FID lists for the entity
The directory entry for Maybank Securities Pte. Ltd. records it as incorporated in Singapore. You can read the entry yourself on the MAS website before you go further.
MAS actions and the Investor Alert List
No MAS enforcement action or media release names Maybank Securities Pte. Ltd. as its subject, and no Investor Alert List entry bears any name searched.
MAS enforcement and alerts
A search of MAS enforcement actions, media releases and the Investor Alert List on 24 September 2026 under 5 search terms (Maybank Securities Pte. Ltd., Maybank Securities, Maybank, Maybank Kim Eng Securities Pte. Ltd., Kim Eng Securities Pte. Ltd.) returned no MAS enforcement action against this company.
Source: the Monetary Authority of Singapore, mas.gov.sg, searched 24 September 2026.
Maybank Securities client money
Leveraged FX client money, as the firm's LFX terms (clause 20.2, last updated 21 May 2025) state it: title transfer: money needed to secure open leveraged FX positions passes to Maybank and is not segregated (Firm's Singapore site, read 24 September 2026)
Negative balance, as the firm states it: you may lose more than your capital in some adverse market conditions (forex page) (Firm's Singapore site, read 24 September 2026)
Maybank Securities at a glance: 2 key facts
Minimum deposit, as the firm states it: SGD 0, no minimum sum to open a live account; funds for a 1,000 notional position needed to trade (Firm's Singapore site, read 24 September 2026)
Demo account: Available (Firm's Singapore site, read 24 September 2026)
Maybank Securities spreads and commission
Maybank Forex is the service the firm’s EUR/USD figures belong to, and the firm prints the pair’s spread on two of its own pages. I give you both below, each with its page, because I cannot choose one for you.
Maybank Forex
The firm’s forex product page prints EUR/USD at 1.0 pips in its spread table, with no basis stated. The firm’s pricing overview page prints EUR/USD at 1.3 pips, headed “under normal market conditions”. Both are advertised figures; neither was measured by us.
Commission
The firm states that you can trade over 50 currency pairs round-the-clock, 5 days a week, with tight spreads and no brokerage fees on FX.
What it costs to trade with Maybank Securities
What a trade costs here is the spread, which the spreads section covers, plus the commission position the firm states. I would treat the two EUR/USD entries as two separate advertised numbers rather than one price. Before trading, check the firm’s Singapore site for any overnight, conversion, or account fees it may state elsewhere.
| Fact | What the record says | Source |
|---|---|---|
| Maybank Forex: EUR/USD spread, advertised (forex product page FAQ) | 1.0 pips, no basis printed | Firm's Singapore site, read 24 September 2026 |
| Maybank Forex: EUR/USD spread, advertised (pricing overview) | 1.3 pips, under normal market conditions | Firm's Singapore site, read 24 September 2026 |
| Commission, as the firm states it | no brokerage fees on FX | Firm's Singapore site, read 24 September 2026 |
Maybank Securities deposits and withdrawals
Cheques are payable to Maybank Securities Pte Ltd, and PayNow runs through participating banks. The withdrawal clock the firm states starts with a request received before 12pm on a working day, and the destination is a cheque or your own bank account.
| Fact | What the record says | Source |
|---|---|---|
| Funding route | bill payment | Firm's Singapore site, read 24 September 2026 |
| Funding route | telegraphic transfer | Firm's Singapore site, read 24 September 2026 |
| Funding route | PayNow | Firm's Singapore site, read 24 September 2026 |
| Funding route | cheque | Firm's Singapore site, read 24 September 2026 |
| Withdrawals, as the firm states them | by email; before 12pm processed within 2 working days; cheque or own bank account | Firm's Singapore site, read 24 September 2026 |
Maybank Securities account types and minimum deposit
The assessment the firm uses appears as a Client Proficiency Assessment, in the LFX account-opening set and for CFDs, which the firm says is designed to protect less experienced investors. The firm states that the bill payment service is in SGD, and that where the home currency of your live account is in another currency denomination, it will convert from SGD to the home currency before crediting the amount into your live account.
| Fact | What the record says | Source |
|---|---|---|
| Account types on the Singapore site | Maybank FOREX Account, Maybank CFD Account, Professional Account | Firm's Singapore site, read 24 September 2026 |
| Accredited investor terms, as the firm states them | an accredited-investor explanation document is published | Firm's Singapore site, read 24 September 2026 |
| Customer Knowledge Assessment, as the firm states it | Client Proficiency Assessment form in the LFX account opening set | Firm's Singapore site, read 24 September 2026 |
| Customer Knowledge Assessment, as the firm states it | CPA form for CFDs and other specified instruments | Firm's Singapore site, read 24 September 2026 |
Maybank Securities trading platforms
The platforms on the firm’s Singapore site are Currenex for retail FX and an MT4 bridge under institutional services.
Currenex
The firm states: “We partner with Currenex to provide you with stable access performance levels during volatile market conditions.” This is the platform a Maybank Forex client trades on.
MT4 Bridge
The firm states: “MT4 Liquidity Bridge provides connectivity between MT4 servers and liquidity pools.” It sits under the firm’s institutional services, so it is not a retail MT4 account.
Maybank Securities execution speed and slippage
Our global execution panel holds no fill time for Maybank Securities Pte. Ltd., so I can tell you nothing about speed or slippage for this entity.
Maybank Securities markets
The firm also calls its leveraged FX service Margin FX Trading or Leveraged FX Trading, names you will meet across its pages.
| Fact | What the record says | Source |
|---|---|---|
| Product: spot FX on margin | Offered | Firm's Singapore site, read 24 September 2026 |
| Product: other CFDs | share CFDs | Firm's Singapore site, read 24 September 2026 |
| Platforms on the Singapore site | Currenex (Maybank Forex) | Firm's Singapore site, read 24 September 2026 |
Maybank Securities leverage and margin for Singapore clients
The firm states leverage ratios and margin requirements differ for different currency pairs, determined by it from time to time. Its risk warning says that currency price fluctuations may cause losses.
| Fact | What the record says | Source |
|---|---|---|
| Margin or leverage, as the firm states it | EUR/USD margin 5%; leverage 20:1; worked example for EUR/USD | Firm's Singapore site, read 24 September 2026 |
| Margin or leverage, as the firm states it | set per pair by the firm | Firm's Singapore site, read 24 September 2026 |
| Risk warning, as the firm prints it | These fluctuations may cause losses. | Firm's Singapore site, read 24 September 2026 |
The rule that binds every licensee is Table 18 of the Fourth Schedule to the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations (Rg 13): 5% minimum margin for a retail customer (20:1, our arithmetic) and 2% for an accredited, expert or institutional investor (50:1, our arithmetic). Before you trade on margin, check the firm’s current per-pair terms yourself.
Maybank Securities compared with UOB Kay Hian and uSMART
Against UOB Kay Hian, the difference that matters to your first deposit is size: UOB Kay Hian states S$5,000 or equivalent for an LFX account, while Maybank Securities states no minimum sum. UOB Kay Hian advertises EUR/USD “as low as” 1.8 pips for LFX in the firm’s FAQ, and its platforms are UTRADE MT4 and UTRADE Delta.
uSMART states EUR/USD at 0.5 pips in the “Min. Spread” column of its FX CFD page, and states that it does not charge commission on FX CFDs trading. Its platforms are the uSMART app and Open API, and its product is FX CFDs. When I weigh these three, I weigh the basis each firm gives for its own figures, since each spread carries its own page.
Should you open an account with Maybank Securities?
Yes, if you want a local securities house with a leveraged FX arm, Maybank Securities Pte. Ltd. is that firm, and the MAS Financial Institutions Directory lists it as licensed.
Before you fund, read the firm’s two published EUR/USD spreads on their own pages, and check the per-pair margin terms it states. If you trade FX on margin, its risk wording matters: currency prices fluctuate, and those fluctuations may cause losses. Read the directory entry and the firm’s Singapore pages yourself before you deposit.
FAQs
Is Maybank Securities Pte. Ltd. licensed by MAS?
Does the firm publish one EUR/USD spread?
Can I open an account without a minimum deposit?
Can I trade on MT4 with Maybank Forex?
Record log
| Record | Detail |
|---|---|
| MAS Financial Institutions Directory read | 24 September 2026 |
| MAS enforcement actions, media releases and Investor Alert List searched | 24 September 2026 |