MT4 Brokers Singapore
We review 8 brokers for Singaporean traders looking for the best forex broker with the MetaTrader 4 (MT4). When choosing a broker look for regulated broker, good trading accounts with low spreads and MT4 trading tools.

We review 8 brokers for Singaporean traders looking for the best forex broker with the MetaTrader 4 (MT4). When choosing a broker look for regulated broker, good trading accounts with low spreads and MT4 trading tools.
Updated: 01/03/2021
The best forex brokers in Singapore that offer MetaTrader 4 are:
Pepperstone is one of leading CFD and forex brokers worldwide with the MetaTrader 4 (MT4) forex trading platform. The Australian brokerage firm accepts Singaporean traders and although not regulated by the Monetary Authority of Singapore (MAS), Pepperstone is overseen by the most respected regulatory bodies globally, such as the FCA (UK) and ASIC (Australia).
Key features offered by Pepperstone include:
MetaTrader 4 is the world’s most popular trading platform thanks to its algorithmic trading features, advanced charting tools and overall functionality. The software can be used as a desktop or webtrader trading platform, or mobile apps for Android and iOS devices.
When trading forex and CFDs on MT4, you can fully automate trading using Expert Advisers (trading robots). If you are an experienced trader writing your own Expert Advisers (EAs) you use the MQL4 programming language. If you lack forex trading experience and this is too complex, there is the option to download others’ EAs from the MetaTrader Marketplace online. To help you develop strong algorithmic trading strategies, the MT4 platform has inbuilt backtesting features.
Technical analysis is a key part of many forex traders’ strategy development process. MT4 comes with advanced inbuilt features to help you analyse financial markets like foreign exchange, including 85 pre-installed technical indicators, different chart types and drawing tools, as well as a selection of timeframes.
Pepperstone’s exclusive Smart Trader Tools provide free access to a number of additional Expert Advisers and indicators to help you optimise your forex trading strategies and account management. There are 28 add-ons included in the package, ranging from a Mini Terminal, and Correlation Matrix EAs, to Renko and Pivot Point indicators.
As well as offering MT4, Pepperstone is many retail investors’ choice of forex broker due to its low spreads on over 60 currency pairs. The broker achieves ultra-tight spreads across a range of forex markets by utilising no dealing desk (NDD) and straight through processing (STP) execution. This means that rather than set their own bid-ask prices and use their own liquidity to fill your orders (as market makers do), NDD and STP brokers use several external liquidity sources, allowing you to trade the best spreads currently available in foreign exchange markets.
Both account types provide competitive pricing. For currency pairs like the EUR/GBP, AUD/USD and USD/JPY, Pepperstone’s Standard Account offer low spreads from 1.0 pip with no commission fees, while the ECN-like Razor Account allows you to trade forex spreads from 0.0 pips + a commission fee ($3.50 per side, per 100k traded).
View Pepperstone Review >>Visit Pepperstone >>
OANDA is a locally regulated broker that is overseen by the Monetary Authority of Singapore, making it a great option for Singaporean forex traders. When online trading with OANDA, you trade no commission spreads that average 1.1 pips for major currency pairs like the EUR/USD. To start trading on MT4, no initial deposit is required by the broker. OANDA’s key MT4 features include:
The Monetary Authority of Singapore (MAS) operates as the main financial regulator, as well as the country’s Central Bank. Standard investor protections like segregated client funds are enforced by MAS.
MAS allows Singaporean’s to trade leveraged products like forex and CFDs. Yet, a maximum leverage limit applies to different financial instruments. For instance, if you are trading major currency pairs you can use up to 50:1 leverage, while precious metals and other commodities are restricted to 5:1.
Disclaimer: Trading leveraged products comes with a high risk of losing money. Forex traders must understand that CFDs are complex derivative instruments and use appropriate risk management tools to protect themselves against large losses.
City Index is a MAS regulated broker that offers a range of trading tools on MT4 that are ideal for beginner traders. To help you manage the high risk that comes with online trading, City Index provides risk management tools with educational resources, demo accounts and premium order types like guaranteed stop loss orders.
As well as free basic stop and limit order types, City Index allows you to place guaranteed stop loss orders (GSLOs) for a premium. While standard stop loss orders come still hold a risk of gapping, GSLOs ensure your order will be placed at the price you requested. This allows beginner traders to reduce the high risk when they are initially learning the ins and outs of forex trading. GSLOs provide benefits when:
City Index makes it easy for beginners to manage their trading accounts. To set up your account, the broker requires a minimum deposit of $150 unless you are using a debit card or credit card, then you’ll need to make an initial deposit of $250.
Most deposit and withdrawal methods are fee-free, although certain payment options like credit/debit cards may incur a 2% transaction fee by the card processor. Other funding methods available include:
It is worth noting that e-wallet payment options like Skrill and PayPal are not available. Additionally, when withdrawing funds using certain credit cards like Visa and Mastercard will not allow City Index to transfer funds back onto your card. Therefore, if you are using these card types City Index will process withdrawals into your nominated bank account.
CMC Markets is a top MAS regulated brokerage firm with over 530 financial products available to trade on MT4.
While the broker also offers access to thousands of other financial markets like shares, treasuries and cryptocurrencies, these asset classes are not available on the MT4 platform.
When trading forex on MT4 with CMC Markets, you can access low spreads with no commission fees starting from 0.7 pips. As well as the trading platforms inbuilt charting, Expert Adviser and backtesting features, you can utilise the following tools to enhance your trading experience:
IG Markets was established in 1974 and has since been one of the world’s largest and oldest brokers. The MAS regulated broker offers over 17,000 financial products in total, yet when using MT4 you can access index, commodity, crypto and forex markets.
Due to the size and age of the broker, the forex community views as safe and trusted. As well as being regulated in Singapore by MAS, IG operates within the following jurisdictions and is licensed by:
Although investor protections vary between regions, your funds will be kept in segregated bank accounts regardless of whether you open an account with the broker’s MAS regulated subsidiary or one of the above branches.
Similarly to brokers like Plus500 and eToro, IG operates globally as a market maker, meaning the broker only offers commission-free trading with no option for ECN style spreads. No commission spreads are competitive for major fx pairs like the EUR/USD are a minimum of 0.6 pips and average 1.07 pips.
IC Markets is a top forex broker that allows you to automate trading using third-party social trading tools. IC Markets is a popular broker overall for Singaporean traders thanks to:
As well as manually trading and using Expert Advisers to achieve automation, account mirroring services ZuluTrade and Myfxbook can easily be integrated into your MT4 account and platform.
ZuluTrade is a social-copy trading provider that currently services over 100,000 traders from 192 different countries. To automate trading, you can find traders you like (known as signal providers) and copy their trading strategies, eliminating the need for you to constantly monitor markets and execute trades. ZuluTrade’s unique social trading features include:
Myfxbook AutoTrade is the alternate option if you want to automate trading using social-copy tools. The account mirroring service enables you to copy the trades of thousands of other signal providers directly into your MT4 account. You retain full control of your account, and there is no need to download any additional software.
FP Markets is an ASIC regulated broker that offers a good range of cryptocurrency CFDs. You can trade the most popular cryptos with the broker including Bitcoin, Litecoin, Ripple, Ethereum and Bitcoin Cash. You pay no commission fees on top of the cryptos spread, which start from 2.02 for Bitcoin and 3.3 for Litecoin.
FP Markets provide excellent trading conditions when trading all types of CFDs. Execution speeds are fast, averaging less than 40ms, while forex spreads can be as low as 0.0 pips + commission. As well as cryptocurrency, you can also trade the following asset classes and CFDs on MT4 with FP Markets:
When using MT4 with FP Markets, you can enjoy the following features:
ThinkMarkets is an ASIC (AUS) and FCA (UK) regulated broker that provides access to the MetaTrader 4 platform. You can choose between two account types when using MT4, with both commission and free pricing structures available. Both trading account types require a minimum deposit of 500 units of currency.
As well as the two main account types, if you are a trader that follows Islamic finance principles, an Islamic Account may be available.
When using MT4 with ThinkMarkets, you gain access to the following trading conditions and tools:
With MetaTrader 4 (MT4), add-on Smart Trader Tools, low spreads and excellent trading conditions, Pepperstone is the best forex broker for Singaporean traders wanting to use MT4. The CFD and forex broker offers a good range of financial products that you can trade on MT4, with advanced charting tools and algorithmic trading (Expert Advisers) available.
View Pepperstone Review >>Visit Pepperstone >>
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.
We use cookies to ensure you get the best experience on our website. By continuing to browse you accept our use of cookies.
Chat now
Loading...