Best Forex Brokers in Singapore ๐Ÿ‡ธ๐Ÿ‡ฌ

Compare MAS-regulated forex brokers with the best trading conditions for Singapore-based traders. AI-verified and updated for 2026.

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MAS
Primary Regulator
20:1
Max Retail Leverage
SGD
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165+
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Forex Trading in Singapore: What You Need to Know

Singapore forex traders benefit from a well-regulated trading environment overseen by the Monetary Authority of Singapore (MAS). Understanding local regulations, tax obligations, and available brokers is essential before opening an account.

Regulation & Investor Protection

The Monetary Authority of Singapore (MAS) (MAS) oversees forex brokers operating in Singapore. When choosing a broker, always verify their MAS registration status to ensure your funds are protected.

Tax Implications

Tax Treatment in Singapore

No capital gains tax on forex trading profits. Always consult a qualified tax advisor for your specific situation.

Leverage & Trading Conditions

Maximum retail leverage in Singapore is capped at 20:1 (retail). While lower leverage reduces potential profits per trade, it significantly reduces the risk of catastrophic losses โ€” a protection that benefits most retail traders.

Best Trading Hours

Asian session (00:00โ€“09:00 GMT) โ€” overlap with Tokyo and Sydney. Traders in Singapore should focus on sessions with the highest liquidity for their preferred currency pairs.

Top 10 Forex Brokers for Singapore Traders

MAS-regulated and internationally licenced brokers with SGD accounts and local payment support.

#1

IG Group

4.7
โ˜…โ˜…โ˜…โ˜…โ˜…
Best in Singapore MAS ยท FCA ยท ASIC
MAS Regulated
โœ“
SGD Account
โœ“
SG Support
Local team
EUR/USD Spread
0.6 pips
Instruments
17,000+
Fund Protection
MAS rules
Why IG leads in Singapore

IG's MAS-regulated entity provides SGD accounts, local payment support, and Singapore-based customer service. As one of the first brokers MAS licenced for retail forex, IG has the longest track record in the Singapore market. Competitive 0.6-pip spreads and 17,000+ instruments serve Singapore's sophisticated trader base.

#2

Saxo Bank

4.6
โ˜…โ˜…โ˜…โ˜…โ˜…
MAS Licensed Bank MAS ยท FCA ยท DFSA
MAS Regulated
โœ“
SGD Account
โœ“
Bank Entity
Licensed
EUR/USD Spread
0.9 pips
Instruments
71,000+
Research
Premium
Why Saxo suits Singapore traders

Saxo holds a MAS Capital Markets Services licence and operates as a licensed bank in Singapore. SGD accounts, premium research, and 71,000+ instruments across all asset classes make it the most comprehensive platform for Singaporean investors who want forex alongside stocks, bonds, and ETFs.

#3

CMC Markets

4.4
โ˜…โ˜…โ˜…โ˜…โ˜†
MAS + Global MAS ยท FCA ยท ASIC
MAS Regulated
โœ“
SGD Account
โœ“
EUR/USD Spread
0.7 pips
Min Deposit
$0
Instruments
12,000+
SG Support
Available
Why CMC suits Singapore traders

CMC's MAS-licenced entity offers SGD accounts, zero minimum deposit, and 12,000+ instruments. The Next Generation platform's advanced charting appeals to Singapore's technically-focused trading community, and competitive 0.7-pip spreads keep costs low under MAS regulatory standards.

#4

IC Markets

4.3
โ˜…โ˜…โ˜…โ˜…โ˜†
Raw Pricing SG ASIC ยท CySEC ยท FSA
Intl Regulated
ASIC ยท CySEC
SGD Deposits
Via transfer
EUR/USD Spread
0.0 pips (raw)
Min Deposit
$200
Execution
True ECN
Platforms
MT4 ยท MT5 ยท cTrader
Why IC Markets serves Singapore

IC Markets accepts Singapore clients with raw 0.0-pip spreads and True ECN execution. While not MAS-regulated directly, ASIC/CySEC oversight is well-regarded by Singaporean traders seeking the tightest pricing available. SGD deposits via international transfer, and sub-40ms execution serve active Singapore traders.

#5

Pepperstone

4.2
โ˜…โ˜…โ˜…โ˜…โ˜†
Razor SG FCA ยท ASIC ยท CySEC
Intl Regulated
FCA ยท ASIC
SGD Deposits
Via transfer
EUR/USD Spread
0.1 pips (Razor)
Commission
$7 / lot RT
Platforms
MT4 ยท MT5 ยท cTrader
SG Accessible
โœ“
Why Pepperstone is popular in Singapore

Pepperstone's Razor pricing and multi-platform offering attract Singapore's price-conscious active traders. FCA/ASIC regulation provides strong oversight, and cTrader's depth-of-market suits Singapore's institutional-style retail traders. The Active Trader programme's volume rebates benefit high-frequency Singapore traders.

#6

OANDA

4.1
โ˜…โ˜…โ˜…โ˜…โ˜†
Established SG MAS ยท FCA ยท ASIC
MAS Regulated
โœ“
SGD Account
โœ“
EUR/USD Spread
1.1 pips
Min Deposit
$0
SG Support
Local
Spread Data
Published
Why OANDA is trusted in Singapore

OANDA holds a MAS licence and has served Singapore traders for years with zero minimum deposit and SGD accounts. Published spread data provides the pricing transparency MAS encourages, and flexible lot sizing suits Singapore traders who want precise position management without fixed lot constraints.

#7

eToro

4.0
โ˜…โ˜…โ˜…โ˜…โ˜†
Social SG FCA ยท CySEC ยท ASIC
Intl Regulated
FCA ยท CySEC
Copy Trading
โœ“ CopyTrader
EUR/USD Spread
1.0 pips
Min Deposit
$50
SG Accessible
โœ“
Social Feed
โœ“
Why eToro attracts Singapore traders

eToro's CopyTrader brings social trading to Singapore's tech-savvy market. The $50 minimum and intuitive platform design attract younger Singaporean traders entering forex. FCA/CySEC regulation provides confidence, though MAS-regulated alternatives may be preferred for larger amounts.

#8

Plus500

4.0
โ˜…โ˜…โ˜…โ˜…โ˜†
MAS Regulated MAS ยท FCA ยท ASIC
MAS Regulated
โœ“
SGD Account
โœ“
Guaranteed Stops
โœ“
EUR/USD Spread
0.8 pips
Min Deposit
$100
SG Support
Available
Why Plus500 operates in Singapore

Plus500's MAS-regulated entity offers simplified CFD trading with guaranteed stop-losses. SGD accounts and local support serve Singapore's retail trading community, and the straightforward platform design aligns with MAS's focus on retail investor protection.

#9

XTB

3.9
โ˜…โ˜…โ˜…โ˜…โ˜†
Education SG FCA ยท KNF ยท CySEC
Intl Regulated
FCA ยท CySEC
SG Accessible
โœ“
EUR/USD Spread
0.8 pips
Education
200+ lessons
Min Deposit
$0
Commission
$0
Why XTB serves Singapore learners

XTB's 200+ lesson education programme and zero-cost entry appeal to Singaporean beginners. Zero minimum deposit and commission-free trading on standard accounts make it accessible. FCA/CySEC regulation provides oversight, and xStation 5's calculator tools suit Singapore's detail-oriented trading culture.

#10

Interactive Brokers

3.9
โ˜…โ˜…โ˜…โ˜…โ˜†
Institutional SG MAS ยท SEC ยท FCA
MAS Regulated
โœ“
SGD Account
โœ“
EUR/USD Spread
0.1 pips
Commission
~$4 / lot RT
Markets
150+ exchanges
SIPC
US protection
Why IBKR suits Singapore professionals

Interactive Brokers' MAS-regulated entity gives Singapore professionals access to 150+ global exchanges. SGD accounts, institutional pricing from 0.1 pips, and the most comprehensive multi-asset platform available serve Singapore's high-net-worth and professional trading community.

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Risk Warning: Trading forex and CFDs involves significant risk. Between 70-80% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. Past performance is not indicative of future results.