Best Forex Brokers in Singapore: 18 MAS-Regulated Brokers Compared

I recommend OANDA for Singapore forex traders who want a low advertised spread with no deposit barrier. Its Singapore site advertises EUR/USD from 0.8 pips, an advertised minimum on its Spread only account, and there is no minimum deposit to open. Its Core pricing account splits the commission out instead, so you can choose how you pay.

OANDA Asia Pacific Pte. Ltd. is licensed by MAS. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee" and an "Exempt Financial Adviser", and under "Dealing In Capital Markets Products" it lists "Over-The-Counter Derivatives Contracts" and does not list "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading".

On the Spread only account you pay that advertised minimum with the commission wrapped into the spread. Its account tiers run Standard, Premium and Premium Plus, and you can hold an account in SGD, USD or several other currencies.

Its accredited-investor page states a 5% FX margin rate for retail clients and 2% for accredited investors. It also states that client funds are held in a trust account at a Singapore bank.

I recommend MultiBank Group for Singapore traders who want MetaTrader with a low entry cost. Its Singapore entity states a US$50 minimum initial deposit on the Standard account, and both MetaTrader 4 and MetaTrader 5 are offered. In my view that makes it an easy way to start on the platform you may already know.

MEX Global Markets Pte. Ltd. is the Singapore entity behind the MultiBank Group name. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee", and under "Dealing In Capital Markets Products" it lists both "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading" and "Over-The-Counter Derivatives Contracts".

You pay no commission on the Standard account; the ECN account carries a commission at a rate its Singapore pages do not state. Its account tiers run Standard, Pro and ECN, and its base currencies are USD and SGD.

Its FAQ states a 5% margin for forex, with no client class named. Withdrawals normally take 1 to 3 business days to process.

I recommend IG for Singapore traders who want a tight advertised spread on a wide CFD range. Its Singapore site advertises EUR/USD at a 0.6 pip minimum for the IG CFD account, and its platform range covers MetaTrader 4, ProRealTime, L2 Dealer, web trading, its mobile app and TradingView. A demo account with virtual funds lets you try it first.

IG Asia Pte Ltd is licensed by MAS. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee" and an "Exempt Financial Adviser", and under "Dealing In Capital Markets Products" it lists "Over-The-Counter Derivatives Contracts" and does not list "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading".

On forex CFDs the spread is the cost, and IG states no commission for forex. There is no account-opening minimum specified, though card deposits carry a minimum of S$50 per transaction. Its product details page states a 5% margin requirement on EUR/USD for retail clients and 2% for accredited investors.

I recommend FOREX.com for Singapore traders who want MetaTrader 4 and TradingView side by side with PayNow funding. Its Singapore platform list covers TradingView, MetaTrader 4, its mobile app and Web Trading, and its account range runs from Standard through MetaTrader 4 to Corporate, with an Accredited Investor account for eligible clients who opt in. You can try the platforms before you fund anything.

FOREX.com is a trading name of StoneX Financial Pte. Ltd., which FID, read 24 September 2026, lists as a "Capital Markets Services Licensee", an "Exempt Financial Adviser" and a "Major Payment Institution". Under "Dealing In Capital Markets Products", FID lists both "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading" and "Over-The-Counter Derivatives Contracts".

On costs, its Singapore site advertises EUR/USD spreads as low as 0.5 pips, on the FOREX.com platform, with the page noting that MT4 pricing may differ (its Singapore trade prices page).

On margin, the firm states 5% (20:1) for retail customers and 2% (50:1) for accredited investors on major FX pairs (its accredited investor page). It also states that retail client money is fully segregated from its own funds and held in separate accounts with banks.

Its Singapore site advertises EUR/USD from 0.5 points as a minimum on its CFD (Next Generation) account, and its platform range covers Next Generation, MetaTrader 4 and TradingView. If you trade major pairs in size, its FX Active account is the one to compare.

CMC Markets Singapore Pte Ltd is licensed by MAS. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee" and an "Exempt Financial Adviser", and under "Dealing In Capital Markets Products" it lists both "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading" and "Over-The-Counter Derivatives Contracts".

On the standard CFD account you pay the advertised minimum on EUR/USD and no commission is stated for FX; on FX Active you pay a 0.0025% commission per transaction. There is no stated minimum deposit, though you need funds to open a position.

Its trading-costs page states EUR/USD margin rates from 5%, with Pro margin rates from 2%. Its Terms of Business state that accredited, institutional or expert investor clients lose certain protections.

I recommend Interactive Brokers for Singapore traders who want deep currency coverage with no balance barrier. Its Singapore site offers spot currencies on 100+ pairs, a US$0 minimum balance on both IBKR Pro and IBKR Lite, and deposit and trading in up to 29 currencies. Paper Trading uses simulated funds, so you can try the platform before committing money.

Interactive Brokers Singapore Pte. Ltd. is licensed by MAS. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee", and under "Dealing In Capital Markets Products" it lists both "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading" and "Over-The-Counter Derivatives Contracts".

Spot currency trades cost 0.20 basis point x trade value, with a US$2 minimum per order on Tier I pricing (its Singapore commissions page). Its account range covers IBKR Pro and IBKR Lite, and its platforms are Client Portal, IBKR Desktop, IBKR Mobile, Trader Workstation and IBKR GlobalTrader.

I recommend Saxo for Singapore traders who want a large FX range with no deposit barrier. Its Singapore site states no minimum deposit and no inactivity fees, and its account tiers, Classic, Platinum and VIP, reduce pricing as you trade more. If you want a single platform across all asset classes, SaxoTrader covers leveraged products too.

Saxo Capital Markets Pte. Ltd. is licensed by MAS. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee" and an "Exempt Financial Adviser", and under "Dealing In Capital Markets Products" it lists both "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading" and "Over-The-Counter Derivatives Contracts".

You pay no commission on FX spot and forwards. CFD costs differ, with US stock CFDs from US$3 and commission-free trading on index, commodity and bond CFDs (its Singapore CFD page).

FX margin is tiered by exposure and shown per instrument in the platform, and Saxo prints no rate (its margin-information page). Its accredited-investor page states that some limits and restrictions on regular retail investors are relaxed for Accredited Investors.

I recommend Plus500 for Singapore traders who want a single proprietary platform and simple pricing. Plus500SG does not charge dealing commissions, spreads are shown per instrument in the platform, and its demo account comes with unlimited virtual funds.

Plus500SG Pte. Ltd. is licensed by MAS. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee" and an "Exempt Financial Adviser", and under "Dealing In Capital Markets Products" it lists "Over-The-Counter Derivatives Contracts" and does not list "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading".

You pay the spread and no dealing commission; the minimum deposit is stated per method and shown in the Deposit screen on the trading platform. Its platforms are the Plus500 proprietary platform and its trading app.

It states that funds are held in a segregated bank account, separating customer funds from the company's funds (its Singapore about page). Withdrawals are normally processed in 1 to 3 business days.

eToro suits a Singapore trader who wants to copy other traders: its Singapore site offers CopyTrader, and CopyTrader also works in its demo account with virtual funds, so you can trial the approach before you fund an account. TradingView charts are built into its CFD trading page, and the platform runs on web and app. In my view the demo is where a copy trader should start.

eToro Singapore Pte. Ltd. is licensed by MAS. FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee", and under "Dealing In Capital Markets Products" it lists both "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading" and "Over-The-Counter Derivatives Contracts".

Currency CFDs are spread-based; stock CFDs cost 0.15% per trade and crypto CFDs 1% (its Singapore fees page). It states that user funds are kept in separate, segregated accounts, completely independent of the company's.

Its Singapore terms state that different amounts of leverage apply to different underlying products, that applicable law sets the minimum margin requirements and therefore the maximum leverage, and that current leverage is shown on the website.

I read moomoo as a way into leveraged forex: trading runs from the moomoo app, and the forex account opens from its universal account. In my view that single-app shape suits a trader who wants one place for funding and positions.

Moomoo Financial Singapore Pte. Ltd. is the legal entity, and FID, read 24 September 2026, lists it as a "Capital Markets Services Licensee", an "Exempt Financial Adviser" and a "Major Payment Institution". Under "Dealing In Capital Markets Products", FID lists both "Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading" and "Over-The-Counter Derivatives Contracts".

Available funds can be withdrawn at any time, subject to settlement, margin and regulatory holds.

On margin, the firm states that initial margin equals maintenance margin, at 5% on EUR/USD by default, 8% on USD/MXN and 20% on XAU/USD (its Singapore margin page). It also offers opt-in Accredited Investor status on the MAS criteria.

Phillip Nova suits a trader who wants one account and ledger for forex, stocks, ETFs and futures: the NOVA platform trades them from a single account (its Singapore platforms page). Phillip MT5 adds an auto trading function with advanced charting and technical indicators, and TradingView connection is offered alongside both. I would look at it if a single ledger across asset classes matters to you.

Phillip Nova Pte. Ltd. is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists both Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading and Over-The-Counter Derivatives Contracts under Dealing In Capital Markets Products.

The product information sheet also states there may be a deficit in your account after liquidation, and the FAQ states the close-out level on MT5 is 50% for accredited investors and 20% for others.

Phillip Securities (POEMS) suits a trader who wants FX CFDs on a full platform set: FX CFDs run on POEMS 2.0, POEMS Mobile 3.0, POEMS Pro and POEMS CFD MT5 (its Singapore FX CFD page).

Phillip Securities Pte Ltd is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists Over-The-Counter Derivatives Contracts, but not Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading, under Dealing In Capital Markets Products.

The FX CFD account carries a 5% margin requirement on EUR/USD (its Singapore FX CFD page). You can fund through PayNow or FAST, and transfers from the stock account to the CFD account move by withdrawal form with a 10:00am daily cut-off on trading days.

Phillip Securities states it maintains a trust account in which it deposits customer money (its risk disclosure). A free POEMS CFD MT5 demo account is offered.

KGI Securities suits a trader who wants MetaTrader 4 alongside a firm-built platform: KGI MetaTrader 4 and KGI MaxxTrader cover both (its Singapore platform comparison page). SGD and USD withdrawal requests received before 11:00am are processed the same day, which suits a trader who moves money often. I would look at it if same-day SGD or USD withdrawals matter to your routine.

KGI Securities (Singapore) Pte. Ltd. is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists both Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading and Over-The-Counter Derivatives Contracts under Dealing In Capital Markets Products.

Margin for each currency pair is benchmarked to the corresponding FX futures and set by the firm, with no percentage published (its Singapore forex FAQ).

The firm states you are liable for any resulting deficit if your position is liquidated at a loss (its risk disclosure statements). It accepts funding in SGD and USD, and in other currencies on request.

OCBC Securities (iOCBC) suits a trader who wants a professional-grade platform: iOCBCfx offers real-time information and flexible charting across over 40 FX pairs (its Singapore platform page). A free one-month demo account with US$100,000 in virtual funds lets you try the platform before you commit. I would look at it if FIX API connectivity matters to your trading.

OCBC Securities Private Limited is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists both Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading and Over-The-Counter Derivatives Contracts under Dealing In Capital Markets Products.

The firm states leverage two ways: the account page states up to 20 times leverage, while the product page states up to 50 times leverage based on an initial margin of 2%, with margins below 5% based on approval, and lists a 5% initial margin for G10 major currencies. Neither page names a client class.

Telegraphic transfer withdrawals carry a minimum of US$40 per transaction as levied by correspondent banks, and the firm states you are liable for any resulting deficit if a position is liquidated at a loss (its Singapore pages).

UOB Kay Hian (UTRADE) suits a trader who wants a wide choice of funding: cash, cheque, credit card, bill payment, FAST, telegraphic transfer and PayNow are all accepted (its Singapore FAQ). LFX, its leveraged foreign exchange product, runs on UTRADE MT4 and UTRADE Delta. I would look at it if you already bank with a local provider and want familiar funding routes.

UOB Kay Hian Private Limited is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists both Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading and Over-The-Counter Derivatives Contracts under Dealing In Capital Markets Products.

The firm's worked example puts the EUR/USD margin requirement at 5% (its Singapore FAQ).

The firm states it is possible to lose more than you initially deposited, as with all leveraged products (its Singapore FAQ). UTRADE Delta also carries CFDs on equities and indices.

Maybank Securities (Maybank Trade) suits a trader who wants spot forex without brokerage fees: you can trade over 50 currency pairs round-the-clock, five days a week (its Singapore forex page). Currenex provides the platform for Maybank Forex, with an MT4 liquidity bridge for institutional connectivity.

Maybank Securities Pte. Ltd. is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists both Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading and Over-The-Counter Derivatives Contracts under Dealing In Capital Markets Products.

The firm's worked example puts the EUR/USD margin at 5%, and it states leverage ratios and margin requirements differ for different currency pairs as the firm determines them from time to time (its Singapore forex page).

Funding runs through bill payment, telegraphic transfer, PayNow or cheque, and withdrawal requests received before 12pm on a working day are processed within 2 working days (its Singapore pages).

CGS International suits a trader whose interest runs beyond forex: its Singapore CFD page offers DMA CFDs on more than 21,000 counters across 30 major global exchanges. CFD Mobile and CFD ViewPoint carry the trading, one an app journey and the other advanced market tools. I would look at it if DMA equity CFDs sit beside your FX positions.

CGS International Securities Singapore Pte. Ltd. is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists both Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading and Over-The-Counter Derivatives Contracts under Dealing In Capital Markets Products.

The up to 10X leverage on the CFD page applies to DMA equities and futures CFDs, not to FX.

Its CFD risk disclosure states you should be prepared to lose more than or all of your initial investment amount placed as margin with the firm.

uSMART suits a trader who wants forex CFDs from a phone: FX CFDs trade in the uSMART app, with an Open API for basic quotes, quote pushes and trading interfaces (its Singapore pages). You open the CFD account inside the app by acknowledging the client agreement and risk disclosure. I would look at it if app-based trading is how you work.

uSMART Securities (Singapore) Pte. Ltd. is the legal entity behind the brand, and FID, read 24 September 2026, lists it as a Capital Markets Services Licensee and lists Over-The-Counter Derivatives Contracts, but not Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading, under Dealing In Capital Markets Products.

The FX CFD table puts the EUR/USD margin factor at 5% for retail customers, and the firm states its margin rates are graduated and start at 5% for FX CFDs (its Singapore FX CFD page).

The firm states losing more than your deposits and making further payments may be a possibility (its Singapore FX CFD page). Stock CFDs and gold and silver CFDs are also offered.