Top Forex Brokers in Singapore

Singapore Forex Brokers

The lack of capital gain tax and free capital control in the country make Singapore one of the top jurisdictions in financial markets. Monetary Authority of Singapore (MAS) is the regulator of the financial system in the country. The website of the regulator is  www.mas.gov.sg and you could check there the registration number of the forex broker if it is regulated in Singapore.

In the list below you could see the best Forex and CFD brokers regulated from Monetary Authority of Singapore (MAS).

Best brokers in Singapore

Broker Description Pros Cons Rating Go
Plus500 Plus500 was founded in 2008 in Israel. The company offers various CFDs based on Forex, Indices, Commodities, Shares, and ETFs. Plus500UK Ltd is authorized & regulated by the FCA (#509909), Plus500CY Ltd is authorized & regulated by CySEC (#250/14), Plus500SG Pte Ltd is licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018). The company attracts clients with the proprietary developed platform.
  • Low spread
  • User friendly platform
  • Limited research tools   
9.4
Full Review
IG Markets IG Markets is the biggest CFD provider in the world. The company was established in 1974 in the United Kingdom. IG Markets offers more than 16 000 products to over 175 000 clients. The company offers two platforms – developed in house platform and Meta Trader 4. Financial Conduct Authority (FCA), United Kingdom, regulates IG Markets.
  • Good spread (as low as 0.7 for EURUSD)
  • Multiple trading platforms
  • Swap free accounts
  • No negative balance protection   
9.3
CMC Markets The company was established in 1989. CMC Markets offers more than 300 forex instruments, 60 indices, 15 cryptocurrencies, and 9000 shares. The company services his clients in own developed platform. CMC Markets is authorized and regulated by the Financial Conduct Authority in the United Kingdom.
  • Low costs
  • FCA regulated
  • No automated trading 
8.9

How to Choose Best Forex and CFD broker in Singapore

One of the main downsides of Singaporean is the low leverage in local regulated brokers. At the end of 2019 Monetary Authority of Singapore cut the maximum allowed leverage from 50:1 to 20:1. If your strategy does not need big leverage you could benefit from the strong regulation in Singapore. Otherwise, you have the option to try to be classified as a professional investor if you cover the required threshold for financial assets (more than 2 million Singaporean dollars (around 1.5 US dollars) or over one million Singaporean dollars and over 300 000 Singaporean dollars yearly yield. The other option that you have is to choose an offshore broker. If you decide to go in that direction place have in mind the low protection of the offshore brokers and to your check for the chosen broker carefully.

Forex Broker Min deposit Leverage Deposit method Platforms Spread Swaps Support
Pepperstone

Visit

200 AUD  1:30
  • Visa
  • Mastercard
  • POLi
  • Bank transfer
  • BPay
  • PayPal
  • Neteller
  • Skrill
  • Union Pay
  • MT4
  • MT5
  • cTrader
Plus500

Visit
100 USD  1:30
  • Visa
  • Mastercard
  • Bank transfer
  • PayPal
  • Skrill
  • Plus500
XTB

Visit
250 USD  1:30
  • Visa
  • Mastercard
  • Bank transfer
  • PayPal
  • Skrill
  • MT4
XM

Visit
300 USD  1:30
  • Visa
  • Mastercard
  • Bank transfer
  • Other electronic methods
  • MT4
CMC Markets 0 USD  1:30
  • Visa
  • Mastercard
  • Bank transfer
  • MT4
  • Next Generation
IG Markets 300 USD  1:30
  • Visa
  • Mastercard
  • Bank transfer
  • HKD FPS
  • MT4
  • IG's trading platform

Trading platforms

All of these three brokers offer own developed platforms that offer a lot of different options.

Leverage

As we described already the leverage in Singapore is limited to 20:1 for retail clients. If leverage is an important part of your trading strategy better choose a broker regulated in other of the top jurisdictions that accept Singaporean citizens or offshore broker.

List of trading instruments

There is a big variety of CFDs that you could trade through the brokers in Singapore. Plus500 offers over 2000 different types of CFDs in their platform.

Conclusion

If we summarize Singapore is a jurisdiction with high authority during traders. The accounts up to 75 000 Singaporean dollars have insurance from Singapore Deposit Insurance Corporation (SDIC) Singapore Deposit Insurance Corporation (SDIC). The recovery ratio is 90%. The forex brokers in the country offer also a big amount of different trading instruments with competitive spreads.

Forex Brokers Ranking

Looking for an independent and professional Forex brokers review? Our researches will help you find a broker supporting all financial instruments you may need. It will also help you choose the best trading platform for your manual or automated trading.

Disclaimer: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. Please note that FxBrokersRanking.com do not provide any kind of financial advices or recommendations.

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