18 Best Forex Brokers in Singapore for 2024
Singapore, one of Asia's leading financial hubs, offers a highly competitive and regulated environment for Forex trading. With a growing number of traders entering the market, selecting the right Forex broker is crucial for success. This article will highlight the 18 best Forex brokers in Singapore for 2024, providing insights into their features, regulatory compliance, and overall trading conditions.
1. IG Markets
Overview
IG Markets is a global leader in online trading, offering a wide range of Forex pairs, competitive spreads, and advanced trading platforms. Regulated by the Monetary Authority of Singapore (MAS), IG Markets is known for its reliability and comprehensive educational resources.
Why Choose IG Markets?
Regulation: MAS regulated.
Platform: Access to MetaTrader 4, ProRealTime, and L2 Dealer.
Support: 24/7 customer support and extensive educational tools.
2. Saxo Markets
Overview
Saxo Markets is a top-tier broker in Singapore, offering a wide array of trading instruments, including Forex, CFDs, stocks, and commodities. Saxo is known for its advanced trading platform, SaxoTraderGO, and strong regulatory standing with MAS.
Why Choose Saxo Markets?
Regulation: MAS regulated.
Platform: Proprietary platform with robust tools.
Spreads: Competitive spreads with deep liquidity.
3. CMC Markets
Overview
CMC Markets is a well-established broker offering over 330 Forex pairs, making it one of the most diverse in the industry. The broker is regulated by MAS and provides a powerful trading platform, Next Generation, that is known for its speed and reliability.
Why Choose CMC Markets?
Regulation: MAS regulated.
Platform: Next Generation platform with advanced charting tools.
Range of Markets: Extensive range of Forex pairs and CFDs.
4. City Index
Overview
City Index is another leading Forex broker in Singapore, providing a variety of trading instruments and competitive spreads. With strong regulatory oversight from MAS, City Index offers traders security and reliability.
Why Choose City Index?
Regulation: MAS regulated.
Platform: Access to MetaTrader 4 and a proprietary web-based platform.
Experience: Over 35 years in the industry.
5. OANDA
Overview
OANDA is a trusted name in Forex trading, known for its transparent pricing model and user-friendly platforms. OANDA is regulated by MAS and offers a wide range of Forex pairs with competitive spreads.
Why Choose OANDA?
Regulation: MAS regulated.
Platform: MetaTrader 4, MetaTrader 5, and a proprietary platform.
Pricing: Transparent pricing with no hidden fees.
6. Forex.com
Overview
Forex.com is a global Forex broker with a strong presence in Singapore. It offers a robust trading platform, MetaTrader 4, and is regulated by MAS, ensuring a secure trading environment.
Why Choose Forex.com?
Regulation: MAS regulated.
Platform: MetaTrader 4 with advanced charting and trading tools.
Execution: Fast trade execution with deep liquidity.
7. Phillip Futures
Overview
Phillip Futures, a subsidiary of PhillipCapital, is one of the most established brokers in Singapore, offering a wide range of Forex trading options. It is regulated by MAS and provides a secure trading environment with competitive spreads.
Why Choose Phillip Futures?
Regulation: MAS regulated.
Platform: MetaTrader 4 and a proprietary platform.
Reputation: Strong local presence and trusted name in Singapore.
8. Plus500
Overview
Plus500 is known for its user-friendly platform and a wide range of Forex pairs. Although not a traditional broker, Plus500 is regulated by MAS and offers competitive spreads with no commissions.
Why Choose Plus500?
Regulation: MAS regulated.
Platform: Proprietary platform with an intuitive interface.
Costs: Commission-free trading with tight spreads.
9. Interactive Brokers
Overview
Interactive Brokers is a global leader in trading and offers a wide range of Forex pairs. It is regulated by MAS and is known for its low trading costs and sophisticated trading platform, Trader Workstation.
Why Choose Interactive Brokers?
Regulation: MAS regulated.
Platform: Trader Workstation, known for its advanced features.
Fees: Low trading costs and transparent fee structure.
10. TD Ameritrade
Overview
TD Ameritrade offers Forex trading through its thinkorswim platform, which is known for its advanced charting tools. It is regulated by MAS, ensuring a safe trading environment for Singaporean traders.
Why Choose TD Ameritrade?
Regulation: MAS regulated.
Platform: thinkorswim, one of the most powerful trading platforms.
Education: Extensive educational resources and market analysis tools.
11. ThinkMarkets
Overview
ThinkMarkets is a relatively new player in the Forex market but has quickly gained a reputation for offering competitive spreads and an advanced trading platform. It is regulated by MAS.
Why Choose ThinkMarkets?
Regulation: MAS regulated.
Platform: MetaTrader 4, MetaTrader 5, and ThinkTrader.
Spreads: Competitive spreads with fast execution.
12. FXCM
Overview
FXCM is a well-known Forex broker that offers a variety of trading platforms, including Trading Station and MetaTrader 4. It is regulated by MAS, providing a secure trading environment.
Why Choose FXCM?
Regulation: MAS regulated.
Platform: Multiple platforms to suit different trading styles.
Support: Strong customer support and educational resources.
13. Pepperstone
Overview
Pepperstone is an Australian broker with a strong presence in Singapore. It is known for its low spreads, fast execution, and excellent customer service. Pepperstone is regulated by MAS.
Why Choose Pepperstone?
Regulation: MAS regulated.
Platform: MetaTrader 4, MetaTrader 5, and cTrader.
Spreads: Extremely low spreads with high liquidity.
14. Vantage FX
Overview
Vantage FX offers competitive spreads, high leverage, and advanced trading platforms, making it a popular choice among Singaporean traders. It is regulated by MAS.
Why Choose Vantage FX?
Regulation: MAS regulated.
Platform: MetaTrader 4, MetaTrader 5, and ProTrader.
Leverage: High leverage options for experienced traders.
15. FP Markets
Overview
FP Markets is known for its excellent trading conditions, including tight spreads and fast execution. It is regulated by MAS and offers a wide range of trading instruments.
Why Choose FP Markets?
Regulation: MAS regulated.
Platform: MetaTrader 4, MetaTrader 5, and IRESS.
Execution: Fast execution with deep liquidity.
16. Monex
Overview
Monex is a leading Japanese broker that has expanded its services to Singapore. It offers a range of Forex pairs and is regulated by MAS, ensuring a secure trading environment.
Why Choose Monex?
Regulation: MAS regulated.
Platform: MetaTrader 4 with competitive spreads.
Support: Strong customer support and educational resources.
17. AvaTrade
Overview
AvaTrade is a global Forex broker that offers a wide range of trading instruments and platforms, including MetaTrader 4 and AvaTradeGO. It is regulated by MAS, providing a secure environment for traders.
Why Choose AvaTrade?
Regulation: MAS regulated.
Platform: Multiple platforms with user-friendly interfaces.
Education: Comprehensive educational materials and trading guides.
18. HYCM
Overview
HYCM is an established Forex broker with a strong reputation for reliability and competitive spreads. It is regulated by MAS and offers a wide range of trading platforms.
Why Choose HYCM?
Regulation: MAS regulated.
Platform: MetaTrader 4 and MetaTrader 5.
Experience: Over 40 years in the financial industry.
Conclusion
Choosing the right Forex broker is crucial for your trading success. The 18 brokers listed above are among the best in Singapore, offering a combination of competitive spreads, reliable platforms, and strong regulatory oversight by MAS. Whether you are a beginner or an experienced trader, these brokers provide the tools and support you need to succeed in the Forex market.
