List of forex brokers in singapore

When you do open a Saxo Bank account, you will be greeted with three possible account type choices with a varying minimum deposit. With the increased deposit you can benefit from improved spreads, direct customer support, and more. As a forex trader you will also be able to try a full demo account before depositing and have access to an Islamic trading account where needed. Spreads here are also competitive starting from 0. Oanda is the next globally well known broker to be featured as one of the top Singapore broker choices.

You will have one account type choice and this forex broker features no minimum deposit once you have tried out the fully functional demo account on offer. An Islamic account is also available when needed. Deposits can be made through the common methods like wire transfer, credit and debit cards, and eWallets. The majority of these are fee-free with both SGD deposits and base currencies catered for.

While no bonus is in place, spreads do start on the MT4 platform from a competitive 1 pip on forex. This is 1. They also offer a huge asset catalogue of more than assets, 90 of which are forex currency pairs. There is one account type available though both demo accounts and Islamic trading accounts are available where needed.

You can fund your IG Markets account through wire transfers, credit or debit cards, and eWallets with most being fee free. Both SGD deposits and base currencies are allowed and while there is no IG Markets bonus in place, spreads start from a competitive 0. The last featured top Singapore broker is Swissquote. Spreads can reduce as you raise levels and you are free to try out a demo account or request an Islamic account where needed. Deposits can be made both through wire transfers or online payments and are generally free within Switzerland but have a fee of SGD in Singapore.

With that though, both SGD deposits and base currencies are available and with spreads starting from 1. While there is no bonus yet available, the most-respected trading platforms MT4 and MT5 as well as proprietary platforms are available. As a Singapore-based trader, there are a few key areas to monitor when seeking a new forex broker. It is important to note too though that MAS is one of the most respected regulatory bodies out there with a max leverage of and bonuses available.

This is the first and perhaps most important point in forex trading. Always choose a regulated broker. In Singapore, since brokers not regulated by MAS cannot offer services then it is made a little easier. With that said, try to steer clear of any unregulated broker but do remember that even if a broker, like FXTM for example, is not regulated by MAS, they can still be a very top level forex broker.

In Singapore, you will most likely benefit from having your account in SGD. This means you will be saving on conversion fees and we definitely recommend sticking with this and trading these SGD pairs where you can. This means you should find the broker above offering the best spreads rates on SGD pairs in this case.

You will find that forex broker bonus offers are not too common in Singapore.

With that said, there are some available. These are great but remember to think of the bigger picture beyond just the bonus when choosing your broker. A big bonus is great, but not if the other trading conditions of a broker do not fit your thoughts. Think broker ahead of bonus. In forex trading, you may very well want to double check the details of your brokers regulation for yourself.

From there, you will need to know the business or trading name of your broker that can differ from time to time. Additionally, Saxo is one of the best platforms for trading foreign currencies, since its FX spreads are consistently among the lowest available, beating competitors by a significant margin. Finally, our analysts found Saxo Markets's trading platform to have the most intuitive user interface. Read our full review.

Consider this if you are looking for the cheapest online brokerage. Tiger Brokers has the lowest commission fees on the market, an easy-to-use platform, and live prices for the US and Singapore, making it a great option for new and seasoned investors. The commission charged for every trade is just 0. Moreover, Tiger Brokers charges neither a custodian or currency conversion fee, and it's fairly quick to open an account days.

For those looking to invest abroad, Tiger Brokers' platform gives customers real-time access to markets in the United States, Hong Kong, China, and Australia. Trading futures is also simple, as there are built-in features on their platform to give customers support with these deals. With low trading fees, a user-friendly platform, and access to current market data, Tiger Brokers is a great platform.

Consider this if you plan to invest in international. Though this cost can be offset with trading commissions, it can still be a meaningful cost if you are trading only a few thousand dollars in total. In terms of trading securities in non-Singapore markets, Interactive Brokers' commission levels are hard to beat. This is attractive to investors that may feel limited by the number of stocks on the Straits Times Index and feel inclined to consider other options. As you can see in the table below , Interactive Brokers has the lowest commission costs for any region outside of Singapore. Still, Saxo is the best option for those who want access to every market including Singapore.

Consider this if you're new to investing.

Singapore Forex Brokers

Saxo Markets offers the best online trading platform for those who are looking to invest online. With SaxoTraderGO, their platform designed for less-experienced traders, customers gain access to a variety of tools to help them research the best products to the trade. For example, their Fundamental Analysis Tool analyses company indicators to help you determine whether or not you want to invest. Interactive learners can also benefit from annotation features to save and take note of listings, graphs, and more.

Furthermore, the platform synthesizes both in-house and third-party research to constantly feed you up-to-date information, whether you are on your mobile or desktop. Saxo Markets also delivers some of the lowest fees in the market for, among others, Singapore, the US, Hong Kong and Japan , has the largest international market scope, and allows you to trade a variety of products like stocks, bonds, ETFs, mutual funds, foreign exchange, futures, etc. Finally, prior to opening an account you can both preview the platform on their website and try a day demo trial to practice using the platform.

Although beginning to trade online can seem daunting, Saxo Market will supply you with all the tools you need to get started at low rates. Contracts for difference CFDs allow individuals to speculate on the future price of an underlying asset, without actually owning the asset. CFDs are also traded on leverage, giving traders additional buying power. For these reasons, they are popular among experienced traders in Singapore.

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Below we highlight two platforms that stand out for CFD trading. Consider this if you are an experienced trader of CFDs. City Index is a great option for expert traders who seek a trading platform for buying and selling CFDs exclusively. CFDs are basically instruments for margin trading, meaning you are borrowing to invest more money than you have on hand. As such, it can dramatically increase both your gains and losses.

Because of this nature, CFD trading is generally most advisable for seasoned experts. City Index also offers a robust and competitive trading platform for forex trading. However, Saxo is still a better fit for investors who seek access to a diverse set of asset classes e.