MT4 Brokers Singapore

OANDA – Top MAS Regulated Broker

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:

• Desktop, Webtrader, and mobile trading apps are available.
• Charting tools include 9 timeframes and over 50 pre-installed technical indicators including the broker’s MT4 Orderbook Indicator.
• A proprietary plugin for MT4 that enhances technical analysis with features like market scanning, pattern quality indicators, and automatic chart pattern recognition.
• The ability to set up an OANDA VPS Provider to reduce latency.
• MT4 demo accounts to practice CFD and forex trading in real-time market conditions.
• Automated trading with Expert Advisors.

The Monetary Authority of Singapore (MAS)

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 come 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.

View Oanda Review >>Visit Oanda >>

City Index – Best Forex Broker for Beginners

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.

• Demo accounts are a great tool that enables beginner traders to explore real-time forex markets without the high risk of live trading.
• Fundamental analysis tools like economic calendars and news feeds allow you to stay up to date with market news and changes.
• Educational materials with articles, videos, and seminars covering topics like trading strategies, technical and fundamental analysis, risk management, and an introduction to forex trading.
• MT4’s full suite of charting and automated trading tools.

Order Types

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:

• Financial markets are experiencing high levels of volatility.
• You want to eliminate the risk of losing more than your initial deposit.
• The currency pair or other CFD you are trading is prone to gapping.

Trading Account Management

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:

• Internet Bank/FAST
• PayNow
• Cheque
• Bill Payment
• Wire Transfer

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 – Top Range of CFDs

CMC Markets is a top MAS regulated brokerage firm with over 530 financial products available to trade on MT4.

• 330 major, minor and exotic currency pairs
• 110 commodities including like gold, silver, and crude oil
• 90 indices such as the US SPX 500 and Singapore Free

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.

CMC Markets MT4 Features

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:

• Autochartist – a 24 hr financial market scanner with pattern analysis
• VPS – the Virtual Private Server enables you to run MetaTrader 4 remotely
• FX Blue – an additional 12 trading add-ons and 15 indicators that can be added to MT4
• Sentiment Trader – allows you to view sentiment across various financial products

View CMC Markets Review >>Visit CMC Markets >>

IG – Forex Trading with World’s Largest Broker

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:

• The Financial Conduct Authority (FCA) in the United Kingdom (UK)
• The Federal Financial Supervisory Authority (BaFin) in Germany, catering to European traders.
• The Swiss Financial Market Supervisory Authority (FINMA) in Switzerland
• The Dubai Financial Services Authority (DFSA) for UAE traders
• The Financial Sector Conduct Authority (FSCA) in South Africa
• The Japanese Financial Services Agency (JFSA) in Japan
• The Financial Markets Authority in New Zealand (NZ)
• The Australian Securities and Investments Commission (ASIC) in Australia
• The Bermuda Monetary Authority (BMA) for global clients
• The Commodity Futures Trading Commission (CFTC) in the United States (US)

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.

Similar 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.

View IG Markets Review >>Visit IG Markets >>

IC Markets – Top Broker for Social Trading Tools

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:

• Ultra-tight spreads from 0.0 pips and fast order execution
• No dealing desk interference with a pool of top-tier liquidity providers
• ASIC (Aus), CySEC (Cyprus) and FSA (Seychelles) regulation
• A diverse range of financial markets are accessible on MT4 – indices, commodities, futures, bonds  and forex markets.

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

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:

• Zulu Rank – an algorithm that analyses signal providers performance, exposure, stability, maturity, and minimum deposit required.
• Zulu Guard – a risk management tool that automatically monitors your traders 24 hours a day, 7 days a week.
• Simulation – a trading tool that allows you to check your trading strategies and potential profits and losses.

Myfxbook AutoTrade

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 – Best MT4 Broker for Cryptocurrency Trading

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:

• Forex – 60+ major and minor currency pairs
• Shares – 63 different stock CFDs
• Indices – 14 index CFDs on global exchanges
• Commodities – 8 commodities including oil and precious metal financial products

When using MT4 with FP Markets, you can enjoy the following features:

• A choice of no commission (standard account) and commission (raw account) forex trading.
• Automated trading with Expert Advisors and social-copy trading tools (Myfxbook AutoTrade).
• Fully customisable charts with one-click trading
• Advanced technical analysis tools with 60+ indicators
• Traders Toolbox add-ons that include over 10 apps focusing on trade and risk management.

View FP Markets Review >>Visit FP Markets >>

ThinkMarkets – Good Trading Account Types

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.

1. ThinkZero Account: Low spreads from 0.0 pips + commission for major currency pairs like the EUR/USD and USD/JPY.
2. Standard Account: Minimum commission-free spreads from 0.4 pips and average spreads of 1.2 pips for major fx pairs.

As well as the two main account types, if you are a trader that follows Islamic finance principles, an Islamic Account may be available.

Trading Tools & Features

When using MT4 with ThinkMarkets, you gain access to the following trading conditions and tools:

• Ultra-fast order execution
• Automated trading with Expert Advisers
• Autochartist for automated market analysis
• Demo accounts with a virtual balance of $25,000
• 24/7 customer support via phone, live chat, and email

View ThinkMarkets Review >>Visit ThinkMarkets >>