MT5 Brokers In Singapore

We recommend IC Markets as the best MT5 Forex broker overall for its low-cost trading on MetaTrader 5. The broker is great for forex trading, offering an average spread of just 0.16 pips when you combine the major pairs, the joint lowest we’ve tested.

This is highly beneficial if you engage in high-volume or frequent trading, as it reduces transaction costs. Its MT5 platform with level 2 pricing provides complete transparency, showing a full range of prices directly from IC Market’s providers.

Overall, the best MT5 forex broke in Singapore is IC Markets based on ultra-tight spreads starting from 0.0 pips, advanced charting and analytics, professional customer support and SGD live trading accounts all for your convenience. With more than 180,000 clients worldwide, IC Markets is the largest Forex CFD provider in terms of Forex volume, according to Finance Magnates Q2 2020 Intelligence Report.

In terms of regulation that protects Singapore’s traders, IC Markets holds two tier-1 licences and one tier-2 licence from:

• Australian Securities and Investments Commission (ASIC),
• Cyprus Securities and Exchange Commission (CySEC),
• Financial Services Authority of Seychelles (FSA).

Clients in Singapore can register with Raw Trading Ltd (Trading as IC Markets Global) an entity regulated by the FSA with a Securities Dealer Licence Number: SD018.

Forex Trading With Ultra-Tight Spreads

At IC Markets, all retail traders can choose between two different pricing models:

• Spread-only model with mark-up spreads and zero commission trading – spreads start from 1.0 pips
• Raw spread model using ECN/STP execution model with no mark-up spread – spreads start from 0.0 pips

For low-cost trading, IC Markets raw spread accounts come with cheaper than regular spreads. While the Raw spread account has attached a commission of USD 3.5 per 100,000 units traded, on average the EUR/USD spread is kept at 0.0 pips 95% of the time – based on price data compiled from 1 Nov 2019 – 31 Nov 2019.

Spreads start from 0.0 pips on all currency pairs and all Spot Metals, with the average spread on EUR/USD being 0.1 pips – one of the most competitive worldwide. By comparison, the average USD/SGD spread is 0.3 pips with the raw spread model, respectively 1.3 pips with the variable spread model.

Compare and review the average spreads offered by the best forex brokers in Singapore in the table below.

Note* To compile the spread comparison table we used price data from the Raw pricing model.

IC Markets’ MetaTrader 5 Advanced Charting And Analytical Capabilities

Equipped with an even richer set of technical analysis tools and more complex tools for order management compared to the popular MetaTrader 4 software, MetaTrader 5 allows for better control of trading positions. Additionally, its MQL5 environment allows for superior backtesting capability for even more robust Expert Advisors.

IC Markets’ MetaTrader 5 platform grants access to real-time quotes for a range of markets on both the desktop and Webtrader versions as well as on the broker’s mobile apps. The MT5 Webtrader supports all popular browsers – Chrome, Firefox, Safari, Internet Explorer 10+, and includes all the features and benefits of the desktop version of the trading platform.

Clients can also take advantage of real-time trade reporting, better control over risk with the use of micro lots and a built-in Economic Calendar to keep track of major macroeconomic reports and other key volatility-inducing events.

But, what makes IC Markets’ MT5 software one of the best available on the market includes:

• Singapore-based traders can enjoy a high-quality VPS service, which enables them to run automated trading strategies 24/7 with the fastest possible connectivity to IC Markets’ trading servers.
• Traders are able to enjoy ultra-fast order execution of less than 40 ms and low latency which minimizes the possibility of slippage. IC Markets’ MetaTrader 5 servers are located in the Equinix NY4 data centre and “have latency less than 1 millisecond to major VPS providers either collocated in the NY4 data centre or through dedicated lines to nearby data centres.” These conditions, coupled with raw pricing, can best suit high-volume traders, scalpers as well as Forex traders who use Expert Advisors.
• Singaporean traders can access up to 390 financial instruments, including 200 Stock CFDs.

Professional Customer Support Service

With IC Markets, Singapore-based traders can take advantage of a 24/7 customer support service via live chat, email and over the phone. Clients are able to reach the broker’s dedicated support team by dialling +61 (0)2 8014 4280 (global phone number), or by using some of the following toll-free numbers:

In addition, clients can make various inquiries by making use of the following contacts:

• Client Relations
• Support
• Accounts
• Marketing

Variety Of Account Funding Options

Another advantage of IC Markets is that it will not charge any additional fees on deposits and withdrawals. Yet, clients need to be aware that fees may be charged on payments to and from some international banks. IC Markets’ account base currencies supported include USD, EUR, AUD, GBP, SGD, NZD, JPY, CHF, HKD and CAD.

With IC Markets, Singapore-based clients are able to fund their trading account by choosing one of the following payment options:

• Credit Cards or Debit Cards by Visa or MasterCard,
• Wire Transfer – international bank wire transfers incur a processing fee of AUD 20 or equivalent currency. The fee will be deducted from the clients’ withdrawal amount,
• 13 electronic wallets (PayPal, NETELLER, NETELLER VIP, Skrill, UnionPay, BPAY, FasaPay, Broker to Broker, POLi, Thai Internet Banking, RapidPay, Klarna, and Vietnamese Internet Banking).

Summary Of Why IC Market Is The Best MT5 Broker

Based on our review, we consider IC Markets as the best MetaTrader 5 Forex broker due to its true ECN execution, raw pricing, trading platform features, professional customer support service and competitive options for account funding and withdrawals. Retail trader from Singapore can also open a free Demo account, which allows them to test trading strategies in real market conditions and to familiarize themselves with IC Markets’ trading platform features and tools.

Based on our tests, we recommend Pepperstone as a top MT5 broker with RAW spreads. The broker offers exceptionally tight spreads, averaging 0.1 pips on EUR/USD with the Razor account, over 50% better than the industry average.

Pepperstone received a 99/100 in our review, making it our highest-rated broker. Its excellence in trading services is evident through its solid variety of platforms, industry-low trading costs, and outstanding customer service.

Pepperstone was selected as the best forex brokers with MetaTrader 5 platform based on their low spreads on over 60 currency pairs. At Pepperstone, spreads start from 0.0 pips (Razor Account) with prices derived from a diverse network of liquidity providers and no dealing desk intervention.

Pepperstone is a leading Australian CFD and Forex broker regulated in a number of jurisdictions worldwide. Unlike IC Markets, Pepperstone has 5 tier-1 licences and two tier-1 licences including:

• Australia – Pepperstone Australia – by the ASIC,
• United Kingdom – Pepperstone UK – by the Financial Conduct Authority (FCA),
• UAE – Pepperstone AE – by the Dubai Financial Services Authority (DFSA),
• Europe – BaFin and CySEC,
• Africa – The Capital Markets Authority (CMA) of Kenya,
• Internationally – Pepperstone Markets – by the Securities Commission of the Bahamas (SCB).

Similar to IC Markets, Pepperstone also offers some of the best trading conditions on its MetaTrader 5 software.

Pepperstone Razor-Thin Spreads

Singaporean clients can start trading Forex and CFDs by choosing from two types of trading accounts with Pepperstone:

1. Razor Account
2. Standard Account

The Australian brokerage has ensured ECN-style trading conditions for clients on its Razor trading account. Those include raw pricing sourced directly from a deep pool of Tier 1 liquidity providers, no dealing desk execution and lightning-fast order execution speeds. In other words, perfect conditions for day traders, scalpers and clients who use Expert Advisors.

On Pepperstone’s MetaTrader 5 software, Singapore-based traders are able to enjoy ultra-tight spreads on Forex pairs, which can go as low as 0.0 pips during the most liquid times. What is more, the average spreads on major currency pairs on the Razor account remain very competitive all the time due to Pepperstone’s deep interbank liquidity:

• 0.09 pips on EUR/USD
• 0.17 pips on AUD/USD
• 0.25 pips on USD/JPY
• 1.00 pips on USD/SGD
• 0.59 pips on GBP/USD.

Spreads on Spot Metals and Spot Energies are also one of the best among top CFD and Forex brokers:

• XAU/USD – min. spread of 0.05 pips. An average spread of 0.16 pips
• XAG/USD – min. spread of 0.50 pips. An average spread of 1.07 pips
• XTI/USD (WTI Crude Oil vs US Dollar) – min. spread of 0.05 pips. An average spread of 0.05 pips
• XBR/USD (Brent Crude Oil vs US Dollar) – min. spread of 0.04 pips. An average spread of 0.05 pips.

Pepperstone will charge a small trading commission in exchange for ECN conditions on its Razor Account. Commissions depend on the base account currency and the trading platform. For example, trading Forex on a USD-denominated Razor Account will be associated with a commission of $7.00 per round turn per 1 Standard Lot on the broker’s MetaTrader 5 platform. The commissions for other base account currencies are presented in the table below.

Note* SGD denominated accounts can enjoy MT5 commission fee starting from SGD 4.55 per 100,000 unit traded (SGD 9.10 round-turn commission).

Pepperstone Active Trader Program

Pepperstone’s Active Trader program allows clients to earn Forex cash rebates and to save on commissions. The commission discount (rebate) will depend on how many standard lots clients trade on a monthly basis. In other words, the more they trade, the higher the commission discount will be.

When it comes to the order execution speed, Pepperstone claims that most trade orders are filled in less than 30 ms.

Pepperstone’s Standard account may be a more appropriate choice for novice traders because all trading costs are incorporated in the bid-ask spread. Singaporean clients can enjoy competitive variable spreads that start from 1.0 pip on major currency pairs. The average Foreign Exchange trading spreads on Pepperstone’s Standard account are presented as follows:

• 1.09 pips on EUR/USD
• 1.17 pips on AUD/USD
• 1.25 pips on USD/JPY
• 2.00 pips on USD/SGD
• 1.59 pips on GBP/USD.

Summary Of Why Pepperstone Has The Best MT5 Spreads

Overall, Pepperstone claims the first spot for low spread, which are competitive within the FX industry standards. Pepperstone shines as a low-cost forex broker not just for forex trading but also for trading CFDs. At Pepperstone, the minimum initial deposit is USD 200, or the account base currency equivalent. SGD-based trading accounts are also offered by Pepperstone. You can claim your live trading account today by clicking the button below.

We recommend BlackBull Markets as a good broker for MT5 execution speed based on our independent testing. BlackBull Markets has the fastest execution speeds we’ve tested, averaging 77 ms for limit orders and 90 ms for market orders (anything less than a second is excellent).

This fast execution is a major advantage, especially if you trade frequently. It means your trades are executed almost instantaneously, reducing the risk of price slippage and ensuring you get the prices you ask for.

FP Markets offer incredibly tight RAW spreads, averaging at 0.1 pips, and in our tests, they provided zero spreads on EUR/USD 97.83% of the time. This is a huge benefit if you’re a scalper because the cost of each trade is minimised, maximising your potential profits from small price movements.

Scalping requires fast and frequent trades, and with FP Markets’ almost non-existent spreads, you get an optimal environment for this trading style.

FP Markets is the best pick with the best Islamic forex accounts for Muslim traders. The MetaTrader 5 Islamic account is swap-free meaning no interest fees credited or debited making it compliant with sharia law for those of Muslim faith. .

With over 15 years of business history and more than 30 Industry Awards, FP Markets is one of the best trusted global CFD and Forex brokers. Along with the MetaTrader 5, FP Markets also includes MetaTrader 4 (MT4) in its offerings.

FP Markets is the trading name of:

• First Prudential Markets Pty Ltd, regulated in Australia by the ASIC,
• First Prudential Markets Ltd, regulated in the European Economic Area by the CySEC,
• FP Markets LLC, registered in St. Vincent and the Grenadines.

FP Markets Islamic Accounts

Islamic, or swap-free, accounts are in line with Muslim law, as they are not associated with any swaps or interest charges on trading positions held overnight. Instead, the broker will charge an administration fee on those positions, deducted from clients’ account balance.

With FP Markets, Singaporean Muslim clients are able to access financial markets through the broker’s MetaTrader 4 and MetaTrader 5 platforms. The Islamic account option is available on both the Standard and Raw account types, while Muslim clients can access all financial instruments available on both trading platforms.

The minimum deposit required to open an Islamic account is AUD 100 or currency equivalent, while Forex spreads start from 0.0 pips on the Islamic Raw account and from 1.0 pip on the Islamic Standard account.

Trading Conditions And Administration Fee

Muslim clients can take advantage of true ECN pricing and execution on both account types, with order execution speeds being less than 40 ms, which makes the Islamic account suitable for various trading styles (scalping, day trading and swing trading).

Along with the desktop version of MT5, Muslim traders can also access the broker’s WebTrader platform version as well as its mobile apps for iOS and Android devices.

As for FP Markets’ administration fees, the following table visualizes all trading instruments that incur such a fee. We should note that some exotic currency pairs and Shares CFDs, not listed below, will incur swap charges on overnight positions because the Islamic account status will not apply.

Additionally, some instruments such as EUR/USD, XAU/USD or AUS200 Index will not incur an admin fee for the first ten nights of trading. Such a fee will be charged from the eleventh night.

Summary Of Why FP Markets Has The Best MT5 Islamic Account

Our review has found that FP Markets offers the best conditions on its MetaTrader 5 Islamic account, designed for Singapore-based clients of the Muslim faith. Traders can access over 67 CFD instruments, 80 technical indicators, 44 analytics and 6 pending stop order types to enhance your trading experience.

ThinkMarkets offers solid spreads on MT5, with average RAW spreads of 0.2 pips across the forex majors, one of the lowest average spreads we’ve recorded.

However, what truly sets ThinkMarkets apart is its VPS service, which ensures that your trading strategies run smoothly and continuously without any internet or power issues.

It’s valuable if you use Expert Advisors to automate your strategies, as it provides stability and constant connectivity to the markets while being able to run across all trading sessions.

ThinkMarkets was hand-picked for the biggest MetaTrader 5 broker in Singapore based on the range of financial instruments. ThinkMarkets clients can trade on the forex market and tap into over 15,000 CFDs all from the next-generation MetaTrader 5 platform.

ThinkMarkets is another leading multi-regulated broker. ThinkMarkets is the trading name of:

• TF Global Markets (UK) Limited, regulated by the Financial Conduct Authority (FCA)
• TF Global Markets (Aust) Limited, regulated in Australia by the ASIC
• TF Global Markets (South Africa) (Pty) Ltd, regulated in South Africa by the FSCA.

Our review has found that Singaporean traders can access the most diverse range of markets on the MetaTrader 5 software if they sign up for a trading account with this brokerage.

CFD Trading Disclaimer

Trading CFDs on retail investor accounts carries a high level of risk since clients can incur rapid capital losses due to high leverage, especially during periods of heightened market volatility. Therefore, retail traders need to be fully aware of how these complex instruments work before they start trading on a live account.

ThinkMarkets CFD Product Range

Singaporean traders are able to access more than 1,600 financial instruments on ThinkMarkets’ MetaTrader 5 platform across several asset classes:

• Foreign Exchange – 40 major, minor and exotic Forex pairs, with spreads on all majors and on some of the minor currency pairs starting from 0.0 pips on the broker’s ThinkZero account type. On the other hand, Forex trading spreads start from 0.4 pips on ThinkMarkets’ Standard account,
• Stock Index CFDs – 16 major Stock Indices, with spreads of as low as 0.4 points on S&P 500,
• CFDs on Cryptocurrencies – 4 digital currencies (Bitcoin, Bitcoin Cash, Ethereum and Litecoin), with typical spreads of USD 18.00 on Bitcoin and USD 1.50 on Ethereum,
• Spot Energies – 3 Energies (WTI Crude Oil, Brent Crude Oil and Natural Gas), with the minimum spread on US Oil being 2 pips,
• Spot Metals – Gold, Silver and Copper, with the average spread on Gold (ThinkZero accounts) being 6 cents and on Silver (ThinkZero accounts) being 25 cents,
• Futures CFDs – 13 Futures contracts on Stock Indices and Commodities, with the minimum spread on Dow Jones 30 Industrial Average being 6 points and on US Cocoa being 8 points,
• CFDs on Stocks and ETFs – a total of 1542 CFD contracts, including 1491 Stocks traded on 16 major exchanges worldwide and 51 ETFs.

ThinkMarkets Next-Gen MetaTrader 5

The next-gen MT5 platform offered by ThinkMarkets is feature-rich and it’s available for download on every device, including desktop, web browser, Android, iPad and iPhone.

With the MetaTrader 5 platform, you get more timeframes (21 TFs), more pending orders (6), a built-in economic calendar, partial order filling, hedging and netting along with MQL5 programming language.

ThinkMarkets also offers a free MT5 trading guide to learn how to trade on their trading platform.

Summary Of Why ThinkMarkets Is The Largest MT5 Broker

ThinkMarkets clients’ funds are protected for up to $1 million in case the brokerage is unable to meet its financial obligations. The insurance protection comes at no additional cost for clients. Potential clients from Singapore can test drive MT5 on a risk-free demo account with USD 25,000 in virtual funds. Click the button below and claim your free demo account today.

AvaTrade is a solid pick with the MetaTrader 5 platform for day trading, as the spreads offered are fixed and very competitive. The fixed spreads start from 0.9 pips on EUR/USD, which is impressive compared to the average variable spreads of 1.24 pips offered by other brokers.

Fixed spreads are ideal for day trading as they won’t widen (get expensive) during price spikes or news announcements, allowing you to trade without worrying about the spread.

AvaTrade was selected as the best MT5 broker to buy bitcoin and other cryptocurrencies via a Contract for Difference or CFD. With over a decade of business history, AvaTrade is among the global, multi-regulated CFD and Forex brokers, as it has operations on 6 continents. This MT5 broker doesn’t hold a MAS licence but, it is regulated by 7 other regulatory bodies, including:

• The Central Bank of Ireland
• British Virgin Islands’ Financial Services Commission
• The ASIC in Australia
• The FSCA in South Africa
• The Financial Services Agency (FSA) and the Financial Futures Association of Japan (FFAJ)
• The Abu Dhabi Global Markets Financial Regulatory Services Authority.

Our review has found that AvaTrade, one of the best online brokers in Singapore, offers the most competitive trading conditions and the largest range of Cryptocurrencies on its MetaTrader 5 platform.

AvaTrade Cryptocurrency Trading

By ensuring an initial deposit of just $100 (or currency equivalent), Singaporean retail traders are able to access CFDs on 11 Cryptocurrencies as well as on the Crypto 10 Index. With AvaTrade, retail clients will not need to create a digital wallet, since they will be trading Cryptocurrency CFDs, which enables them to profit from both bullish and bearish market conditions.

Note* Crypto trading on MetaTrader 5 accounts is 24/7, but it is not available on Islamic accounts.

Singapore-based traders can take advantage of price movements of the following Cryptocurrencies:

• Bitcoin – it can be traded in crypto-to-fiat pairs against the USD, EUR or JPY. AvaTrade offers a fixed spread of 0.35% Over-market on BTC/USD and a fixed spread of 0.5% Over-market on BTC/EUR and BTC/JPY. The maximum leverage allowed for retail traders tends to be 1:2, while professional traders can access leverage ratios of up to 1:25,
• Ethereum – traded with a fixed spread of 0.6% Over-market,
• Bitcoin Cash and Bitcoin Gold
• Alts like Litecoin, Ripple, Stellar, Dash, NEO, EOS and MIOTA
• Crypto 10 Index – traded with a fixed spread of 1% Over-market.

We recommend Eigthcap as they have 95 crypto products to trade, far more than any other broker. According to our tests, Eightcap also has 56 Forex pairs to trade with spreads averaging 0.06 pips for EUR/USD. To help your trading, you can you FlashTrader which adds stops and targets for every trade you make automatically.