Forex and derivatives trading in Singapore is a fast-growing market that more and more people are getting into by the day. The market is regulated which ensures that customers are treated fair and that all the brokers prioritize safety.
With a growing number of great brokers, it has become increasingly harder for traders to find one that suits their needs and expectation. So in an effort to help you out, we’ve researched the market, review all the brokers, and listed the top 5 best ones in this article.
Keep in mind that these are online forex and CFD broker offering derivatives trading, meaning you don’t own the underlying assets and that most of them are not suitable for long-term investments.
For more information about each broker, we suggest you check out this extensive guide to online brokers in Singapore.
Plus500 is by many considered to be one of the greatest brokers in the world, especially because of their incredibly well-designed trading platform. The broker is originally from Israel but, these days, based in Europe and besides being regulated by MAS, they have licensed from several of the world’s leading regulatory bodies.
Today, Plus500 has over 2,000 available assets ranging from stocks and currency pairs to indices and commodities. And they were the first online broker to launch a CFD on Bitcoin, making them one of the more innovative brokers out there.
Perhaps the best part with Plus500 is their free and unlimited demo account which you can use for practice or just to check out the broker before you deposit your own money.
- IG Markets
IG Markets is a broker that’s owned by IG Group, a financial institution that’s been offering forex trading services in the UK since the 1970s. The broker has an incredible reputation in the industry and they currently offer one of the biggest selection of tradable assets in Singapore.
With over 12,000 assets split over several markets, there is almost nothing that you can’t trade with IG Markets. Stocks, forex, commodities, cryptocurrencies, ETFs, you name it and chances are that IG Markets is offering it.
Besides forex and CFD trading, IG Markets also offers spread betting which is an exciting and quite easy way to benefit from market movements.
Similar to Plus500, IG Markets also has a demo account which we recommend you use to test their different trading platforms.
- CMC Markets
CMC Markets is another British broker with a well-established presence and reputation in most of the world, including in Singapore. The broker features one of the best stock trading platforms in the industry and has more than 10,000 assets on offer.
Trading with CMC Markets is suitable for most people and they have different platforms depending on your skill level and the assets you’re trading. For example, MetaTrader 4 is best suited for forex traders while the Next Generation platform is great for experienced traders wanting to trade stocks, commodities, etc.
It won’t take long after you’ve registered an account with CMC Markets that you realize why we consider it to be one of the best brokers in Singapore.
Oanda is an American forex broker that more or less dominates the retail forex market in the U.S. They are regulated with licenses from the American government, several regulatory bodies in Europe and Australia as well as MAS in Singapore.
Now, the selection of assets offered by Oanda is not as comprehensive as some of the other brokers we recommend, but there is enough to satisfy most people, especially if you want to trade forex.
Last but not least is Forex.com, an incredibly versatile online broker for all types of traders. Despite the name, Forex.com offers more than forex trading and with an account, you’ll gain access to stocks, commodities, cryptocurrencies, and more.
Forex.com is available in Europe, the U.S, in some places of Africa, and Australia, however, one of their biggest markets is the Asian market, including Singapore.
Naturally, the broker is fully regulated and safe to use and with a range of platforms on offers, you can pick the tools that fit your trading style best.