Best Forex Brokers in Singapore

Our forex trading guide highlights the best regulated brokers for Singaporean traders in 2024. Whether you’re a beginner seeking user-friendly platforms or a high-volume trader looking for professional tools and low commission fees, we’ve got you covered.

The top nine brokers in our list all provide competitive pricing, oversight from top-tier regulators, and strong TrustPilot scores, reflecting recent client satisfaction and trust.

1. Pepperstone 🥇 Best Forex Broker in Singapore Overall
2. OANDA 🥈 Best Forex Broker for Beginner Traders
3. Eightcap 🥉 Top Range of CFD Products
4. GO Markets ⭐ Forex Broker with Low Commission Fees
5. City Index ⭐ Great Forex Trading Platform and Tools
6. CMC Markets ⭐ Largest Number of Currency Pairs
7. Saxo Markets ⭐ Diverse Range of CFD Trading Products
8. IG Group ⭐ Most Trusted Forex Broker Worldwide
9. Interactive Brokers ⭐ Best Broker for Professional Traders

1. Pepperstone 🥇 Best Forex Broker In Singapore Overall

Pepperstone is the best broker for Singapore traders thanks to its exceptional trading experience, low fees, and award winning customer support. Established in Melbourne, Australia, in 2010, Pepperstone has become a leading choice for traders worldwide.

✅ Start trading with Pepperstone ✅

Competitive Spreads and Low Fees

Pepperstone’s Razor account is unmatched, providing minimum spreads starting from 0 pips on the EUR/USD currency pair, plus a $3.50 commission per lot. This structure is ideal for high-volume traders and scalpers. The Standard account offers spreads from 1 pip with no commission, suitable for beginners.

Additionally, Pepperstone offers an Islamic (Swap-Free) account, catering to traders who cannot earn or pay interest due to religious beliefs. This account mirrors the Standard account’s spreads but without any swap charges. These competitive pricing structures ensure cost-effective trading for all levels of traders, from novices to professionals.

Pepperstone’s trading conditions are optimised for efficiency and reliability, with an average execution speed of 30 milliseconds, ensuring that traders experience minimal slippage. This is facilitated through its partnership with top-tier liquidity providers and the use of state-of-the-art infrastructure, which includes fibre optic connections to key financial centres.

Advanced Trading Platform Options

Pepperstone supports a range of powerful trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, and its proprietary Pepperstone platform.

• MetaTrader 4 (MT4): Known for its reliability and advanced charting tools, MT4 is ideal for automated trading strategies using Expert Advisors (EAs). It includes 30 technical indicators, 31 graphical objects, and nine timeframes. MT4’s community-driven marketplace offers numerous free and paid EAs, enhancing automated trading capabilities.
• MetaTrader 5 (MT5): Offers enhanced features over MT4, including additional timeframes, more pending order types, and an integrated economic calendar. MT5 supports more asset classes, making it suitable for traders seeking a broader range of markets. It also provides advanced charting tools and improved order management features.
• cTrader: Favoured by experienced traders for its advanced charting tools and customisability. cTrader offers direct access to interbank market depth and features like detachable charts and advanced order types. It supports algorithmic trading through cAlgo, allowing traders to write code in C#.
• TradingView: Combines advanced charting capabilities with a social trading network. Traders can use multiple charts, indicators, and drawing tools to conduct in-depth technical analysis. The platform’s social features enable traders to share ideas and strategies within the community.
• Pepperstone Proprietary Platform: Tailored for user-friendly navigation, this platform offers live streaming prices, multiple charting options, and technical indicators. It’s especially suited for beginners who prefer a straightforward interface. The platform is accessible through web and mobile apps, ensuring seamless trading across devices.

Cutting-Edge Trading Tools and Add-Ons

Pepperstone provides a great suite of trading tools and add-ons to enhance trading experience. The Smart Trader Tools for MetaTrader include advanced features like the Alarm Manager, Correlation Matrix, and Sentiment Trader, providing deeper market insights and improved trade management.

cTrader Automate, formerly cAlgo, allows traders to develop automated strategies using C#. It supports backtesting and optimisation, refining strategies for better performance. Capitalise.ai enables traders to automate strategies without coding, using natural language processing, and is available for MT4 account holders.

Myfxbook and DupliTrade, social trading platforms integrated with MT4 and MT5, allow traders to follow and copy experienced traders’ strategies automatically. These copy trading tools are great options for those just starting out or low on time.

Key Features

• Account Types and Spreads: Razor Account (0 pips + $3.50 commission per lot), Standard Account (spreads from 1 pip, no commission), Islamic (Swap-Free) Account.
• Trading Platforms and Tools: MetaTrader 4, MetaTrader 5, cTrader, TradingView, Pepperstone Proprietary Platform, mobile trading apps.
• Financial Instruments: Forex, commodities, indices, shares, and more.
• Minimum Deposit: $0, recommended starting deposit is $200.
• Customer Support: Available 24/7 via phone, email, and live chat.
• Regulation: Regulated by ASIC (Australia), FCA (UK), BaFin (Germany), CySEC (Cyprus), SCB (Bahamas), and CMA (Kenya).
• TrustPilot Score: 4.6/5 stars.

Verdict on Pepperstone

Pepperstone’s unbeatable trading conditions, advanced platforms, and extensive trading tools make it the top choice for Singapore forex traders. Whether you’re a beginner or a professional, Pepperstone offers the best environment for your trading needs.

2. OANDA 🥈 Best Forex Broker for Beginner Traders

OANDA, founded in 1996 in the USA, is an established forex broker known for its user-friendly platforms and trading tools. The broker’s competitive spreads and reliable customer support make it the top choice for newcomers to forex trading.

✅ Start trading with OANDA ✅

User-Friendly Trading Platforms

OANDA offers a variety of trading platforms, including its proprietary OANDA Trade, MetaTrader 4 (MT4), and TradingView. The OANDA Trade platform is ideal for beginners with an intuitive interface and advanced charting features, making it accessible for beginners while still offering depth for more experienced traders.

MT4, globally popular for forex trading, provides a comprehensive suite of tools and EAs (Expert Advisors) for automated trading. TradingView, integrated with OANDA, adds social trading features, enabling traders to share and discuss strategies within a large community.

Commission-Free Spreads for Beginners

OANDA offers commission-free trading with competitive variable spreads, making it cost-effective for beginner traders. The standard account features spreads averaging 0.6 pips on EUR/USD, 0.9 pips on GBP/USD, and 0.7 pips on AUD/USD. This simplicity in pricing helps beginners to manage their trading costs easily.

OANDA’s approach ensures that new traders are not overwhelmed by complex fee structures, allowing them to focus on developing their trading skills. Furthermore, the broker’s guarantee of stop-loss orders on the OANDA Trade platform provides an extra layer of risk management, which is crucial for those new to the forex market.

Educational Resources and Customer Support

OANDA provides comprehensive educational resources and exceptional customer support for beginners. The broker offers a vast array of educational materials, including webinars, tutorials, and articles that cover both fundamental and technical analysis. This extensive educational suite helps new traders understand the intricacies of forex markets and develop effective trading strategies.

Additionally, OANDA’s customer support is available 24/5 through phone, email, and live chat, ensuring that traders can get assistance whenever needed.

Key Features

• Account Types and Spreads: Standard Account with variable spreads starting at 0.6 pips, Elite Trader Account for high-volume traders.
• Trading Platforms and Tools: OANDA Trade, MetaTrader 4, TradingView; mobile trading apps for all platforms.
• Financial Instruments: Forex, commodities, indices, and more.
• Minimum Deposit: $0, allowing easy entry for new traders.
• Customer Support: Available 24/5 via phone, email, and live chat.
• Regulation: Regulated by CFTC (USA), FCA (UK), ASIC (Australia), MAS (Singapore), and other top-tier regulatory bodies.
• TrustPilot Score: 4/5 stars.

Verdict on OANDA

OANDA is the best broker for beginner traders in Singapore, offering user-friendly platforms, comprehensive educational resources, and low forex spreads with no commission fees.

3. Eightcap 🥉 Top Range of CFD Products

Eightcap, founded in 2009 and based in Melbourne, Australia, has established itself as a leading provider of Contracts for Difference (CFDs) across a broad spectrum of asset classes. With a focus on delivering a superior trading experience, Eightcap offers competitive trading conditions, a variety of trading platforms, and a wide range of financial instruments.

✅ Start trading with Eightcap ✅

Extensive CFD Offering

Eightcap stands out for its comprehensive selection of over 360 CFDs, covering forex, commodities, indices, shares, and more. This wide range allows traders to diversify their portfolios and take advantage of various market opportunities. Eightcap provides both Raw and Standard account types, with Raw accounts offering tight spreads starting from 0.06 pips and a commission of $7 per lot round turn.

Trading Platform Options

Eightcap offers a variety of trading platforms to suit different trading styles and preferences. These include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView. MT4 is widely acclaimed for its user-friendly interface and trading tools, making it suitable for both beginners and experienced traders.

MT5 builds on the success of MT4 with additional features and more asset classes. TradingView integrates advanced charting tools with a social trading community, enabling traders to collaborate and share insights. Each platform is available on desktop and mobile, providing flexibility and convenience for traders.

Key Features

• Account Types and Spreads: Standard Account (spreads from 1 pip, no commission) and Raw Account (spreads from 0.06 pips, $7 commission per lot round turn).
• Trading Platforms and Tools: MetaTrader 4, MetaTrader 5, TradingView; mobile trading apps for all platforms.
• Financial Instruments: Forex, commodities, indices, shares, and more.
• Minimum Deposit: $100, making it accessible for traders to start trading without significant initial deposit.
• Customer Support: Available 24/5 via live chat, phone, and email.
• TrustPilot Score: 4.2/5 stars.

Verdict on Eightcap

Eightcap is a top online broker for traders seeking to trade a range of financial markets. Its competitive spreads, advanced trading platforms, and extensive digital asset offerings make it a top choice for those looking to explore CFD trading.

4. GO Markets ⭐ Forex Broker with Low Commission Fees

GO Markets, established in Melbourne, Australia in 2006, is renowned for its low commission fees and efficient trading services.

✅ Start trading with GO Markets ✅

Low Commission Fees and Spreads

GO Markets excels in offering low commission fees, making it ideal for cost-conscious traders. The broker’s standout Go Plus+ account features spreads starting from 0.0 pips and a commission of USD 5 per lot round turn. This pricing structure is highly competitive, particularly beneficial for high-volume traders.

The Standard Account, suitable for beginners, is commission-free with spreads starting at 1 pip. This account simplifies cost calculations as the primary charge is the spread. Both accounts support scalping, hedging, and automated trading, providing flexibility for various trading strategies.

Rebates for High-Volume Traders

GO Markets also offers a rebate program for high-volume traders. Traders can receive rebates for meeting minimum monthly volume requirements across Forex, Metals, Indices, and Commodities.

For example, trading a minimum of $25 million in Forex and Metals can earn rebates of $5 to $15. These rebates are credited to the trading account in the first week of the next month, providing additional savings for active traders.

Trading Platform Options

GO Markets provides a range of trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader. MT4 and MT5 are available on mobile devices, desktops, and as WebTrader versions, ensuring accessibility and convenience.

These platforms are equipped with advanced trading tools and automated trading capabilities through Expert Advisors (EAs). cTrader, recently introduced, offers advanced order management and risk management tools, enhancing the overall trading experience.

Key Features

• Account Types and Spreads: Standard Account (spreads from 1 pip, no commission) and Go Plus+ Account (spreads from 0.0 pips, USD 5 commission per lot round turn).
• Trading Platforms and Tools: MetaTrader 4, MetaTrader 5, cTrader; mobile trading apps for all platforms.
• Financial Instruments: Forex, shares, indices, commodities, and more.
• Minimum Deposit: $200, recommended to start trading effectively.
• Customer Support: Available 24/5 via live chat, phone, and email.
• Regulation: Licensed by ASIC, CySEC, FSC, and FSA.
• TrustPilot Score: 4.8/5 stars.

Verdict on GO Markets

GO Markets is a top choice for Singapore traders due to its low commission fees, fast execution speeds, and comprehensive platform options.

5. City Index ⭐ Great Forex Trading Platforms for Singaporeans

City Index, established in 1983 and owned by StoneX Group Inc., offers excellent trading platforms and a comprehensive suite of tools.

✅ Start trading with City Index ✅

Trading Platforms and Tools

City Index excels with its trading platforms, offering MetaTrader 4 (MT4) and its proprietary platform. MT4 is renowned for its advanced charting capabilities, algorithmic trading via Expert Advisors (EAs), and comprehensive market analysis tools.

The City Index platform enhances this with additional market analytics, customisable features, and intuitive interfaces. Both platforms are available on mobile, desktop, and web versions, ensuring traders can access their accounts and execute trades from anywhere.

Additionally, City Index integrates with TradingView, providing traders access to extensive charting tools, social trading features, and a wide range of technical indicators.

Low Spreads and Minimum Deposit

City Index offers competitive trading costs with variable spreads and no commissions on most trades. The Standard and MT4 accounts feature spreads starting from 0.5 pips on major currency pairs.

For Singaporean traders, the DMA account offers direct market access with a minimum deposit of $25,000, tailored for premium traders. This variety ensures that both novice and experienced traders can find an account type that suits their needs.

Key Features

• Account Types and Spreads: Standard and MT4 accounts with no commission, spreads from 0.5 pips; DMA account with direct market access and $25,000 minimum deposit.
• Trading Platforms and Tools: MetaTrader 4, City Index proprietary platform, mobile trading compatibility (iOS and Android), automated trading with Expert Advisors (EAs), and integration with TradingView.
• Financial Instruments: Forex, shares, indices, commodities, bonds, and more.
• Minimum Deposit: $0 for Standard and MT4 accounts, $25,000 for DMA account.
• Customer Support: 24/5 support via live chat, email, and phone.
• Regulation: Regulated in Australia, UK, and Singapore.
• TrustPilot Score: 4.2/5 stars.

Verdict on City Index

City Index stands out with its top trading platforms, comprehensive market access, and competitive trading costs. The broker’s advanced tools and flexible account types make it a great choice for both novice and experienced traders.

6. CMC Markets ⭐ Largest Number of Currency Pairs

Founded in 1989, CMC Markets is a leading global forex broker known for its extensive range of over 338 forex pairs and 9,500 CFD products.

✅ Start trading with CMC Markets ✅

Extensive Currency Pair Selection

CMC Markets offers an impressive selection of 338 currency pairs, making it a top choice for forex traders. This extensive range includes major, minor, and exotic currency pairs, allowing traders to diversify their portfolios and explore various market opportunities.

Major pairs like EUR/USD, GBP/USD, and USD/JPY are available alongside a wide array of minor and exotic pairs like the USD/SGD and AUD/NZD.

Trading Platform Options

CMC Markets provides two main trading platforms: MetaTrader 4 (MT4) and its proprietary Next Generation platform. Both platforms offer advanced charting tools and technical analysis features, catering to both novice and experienced traders.

The Next Generation platform, in particular, stands out for its user-friendly interface, over 115 technical indicators, 70 chart patterns, and additional tools like a pattern recognition scanner and client sentiment indicators. These platforms are available on desktop, web, and mobile, ensuring traders can access their accounts and execute trades from anywhere.

Key Features

• Account Types and Spreads: Standard account with spreads from 0.7 pips; no commission fees.
• Trading Platforms and Tools: MetaTrader 4, Next Generation platform, mobile trading apps, advanced charting tools, and client sentiment indicators.
• Financial Instruments: Forex, shares, indices, commodities, bonds, and more.
• Minimum Deposit: $0 minimum deposit requirement.
• Customer Support: 24/5 support via live chat, email, and phone.
• Regulation: Regulated by ASIC, FCA, MAS, and other major financial authorities.
• TrustPilot Score: 4.2/5 stars.

Verdict on CMC Markets

CMC Markets provides a comprehensive trading environment with a vast range of currency pairs and advanced trading tools. Its strong regulatory framework and no minimum deposit requirement make it an excellent choice for traders in Singapore seeking a reliable and well-rounded broker.

7. Saxo Markets ⭐ Diverse Range of CFD Trading Products

Saxo Markets, established in 1992 and headquartered in Copenhagen, Denmark, offers a diverse range of CFD trading products.

✅ Start trading with Saxo Markets ✅

Extensive CFD Trading Options

Saxo Markets provides a broad selection of CFD trading products, making it an ideal choice for traders seeking variety. With access to over 19,000 shares, 182 forex pairs, 200 futures contracts, and numerous commodities, traders can diversify their portfolios effectively.

The online broker also offers CFDs on indices, bonds, ETFs, mutual funds, and other financial markets, enabling traders to speculate on price movements across a wide range of asset classes.

High Minimum Deposit Requirements

Saxo Markets has high minimum deposit requirements, which can be a barrier for some traders. The Classic account requires a minimum deposit of $10,000, the Platinum account requires $200,000, and the VIP account demands a substantial $1,000,000.

These high entry points are designed to cater to serious investors and high-net-worth individuals who seek a premium trading environment. While this may deter smaller investors, it guarantees a higher level of service and support for those who meet the requirements.

Key Features

• Account Types and Spreads: Classic account with spreads from 0.6 pips, Platinum account with tighter spreads, VIP account with premium services; commissions apply for specific products.
• Trading Platforms and Tools: SaxoTraderGO, SaxoTraderPRO, mobile trading apps, advanced charting tools, and research tools.
• Financial Instruments: Forex, shares, indices, commodities, bonds, mutual funds, ETFs, and more.
• Minimum Deposit: $10,000 for the Classic account, $200,000 for the Platinum account, $1,000,000 for the VIP account.
• Customer Support: 24/5 support via live chat, email, and phone.
• Regulation: Regulated by ASIC (Australia), FCA (UK), MAS (Singapore), and other major financial authorities.
• TrustPilot Score: 3.7/5 stars.

Verdict on Saxo Markets

Saxo Markets offers a diverse range of CFD trading products and advanced trading tools, making it suitable for traders looking to diversify their portfolios. However, the high minimum deposit requirements may be a consideration for smaller investors.

8. IG Group ⭐ Most Trusted Forex Broker Worldwide

IG Group, founded in 1974 and headquartered in London, UK, is recognised as one of the most trusted and established CFD brokers globally.

✅ Start trading with IG Group ✅

Reputation and History

IG Group has a rich history of innovation and reliability in the financial markets. Established as the UK’s first over-the-counter (OTC) leveraged derivatives provider, IG pioneered a new way of trading gold. Over the years, IG has continued to innovate, introducing the first online dealing platform for financial spread betting in 1998 and the first trading app for Apple Watch in 2015.

IG Group is renowned for its solid risk management practices, stringent regulatory compliance, and a commitment to transparency. With offices in 16 countries, IG is regulated by top-tier authorities, including the FCA, ASIC, and MAS, ensuring a secure trading environment for its clients.

Comprehensive Trading Platforms and Tools

IG Group offers a variety of trading platforms designed to cater to different trading needs. The IG trading platform is highly intuitive and accessible via web and mobile applications. Additionally, traders can use MetaTrader 4 (MT4) and ProRealTime, both of which are equipped with advanced charting tools and automated trading features. IG’s platforms support trading across multiple asset classes, providing flexibility and convenience for traders.

Key Features

• Account Types and Spreads: Standard account with spreads from 0.6 pips, DMA account with tighter spreads and commissions; various account types depending on region.
• Trading Platforms and Tools: IG Trading Platform, MetaTrader 4 (MT4), ProRealTime, mobile trading apps, advanced charting tools, and automated trading features.
• Financial Instruments: Forex, shares, indices, commodities, bonds, mutual funds, ETFs, and more.
• Minimum Deposit: $0 minimum deposit to open an account; specific deposit requirements vary by region and account type.
• Customer Support: 24/5 support via live chat, email, and phone.
• Regulation: Regulated by FCA (UK), ASIC (Australia), MAS (Singapore), and other major financial authorities.
• TrustPilot Score: 4/5 stars.

Verdict on IG Group

IG Group stands out as a reliable and trusted forex broker, offering a broad range of trading instruments and advanced trading platforms. Its strong regulatory framework and comprehensive educational resources makes IG Group a top broker for traders in Singapore and worldwide.

9. Interactive Brokers ⭐ Best Broker for Professional Traders

Interactive Brokers, established in 1978 and headquartered in Greenwich, Connecticut, is renowned for its comprehensive offerings tailored for professional traders.

✅ Start trading with Interactive Brokers ✅

Features for Professional Traders

Interactive Brokers offers extensive market access, enabling traders to diversify their portfolios across stocks, options, futures, forex, bonds, and ETFs.

Competitive pricing is available through IBKR Lite and IBKR Pro accounts. IBKR Lite provides commission-free trading for US-listed stocks and ETFs, while IBKR Pro, designed for professional traders, features tiered pricing with spreads for major forex pairs as low as 0.1 pips and commissions starting from USD 0.0035 per share.

Interactive Brokers operates on a Direct Market Access (DMA) model, ensuring transparent pricing and tight spreads by eliminating the need for a dealing desk. This model is ideal for traders requiring high execution speeds and deep liquidity.

The CFD broker’s advanced trading platforms, such as Trader Workstation (TWS), IBKR Mobile, Client Portal, and IBKR API, offer sophisticated trading tools, real-time monitoring, and customisable features, supporting multi-asset trading and automated strategies for professional traders.

Key Features

• Account Types and Spreads: IBKR Lite (commission-free for US stocks and ETFs), IBKR Pro (tiered pricing, spreads from 0.1 pips, commissions starting at USD 0.0035 per share).
• Trading Platforms and Tools: Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR API.
• Financial Instruments: Stocks, options, futures, forex, bonds, ETFs.
• Minimum Deposit: $0 for both IBKR Lite and IBKR Pro.
• Customer Support: 24/5 support via live chat, email, and phone.
• Regulation: Regulated by ASIC (Australia), FCA (UK), MAS (Singapore), and other major financial authorities.
• TrustPilot Score: 3.4/5 stars.

Verdict on Interactive Brokers

Interactive Brokers excels in providing a comprehensive and competitive trading environment for professional traders. With extensive market access, low pricing, and advanced trading tools, IBKR is well-suited for those seeking a versatile trading platform.

FAQ: Top Forex Brokers in Singapore

Which forex broker is the best?

Pepperstone is the best forex broker for Singapore traders due to its low fees, fast execution speeds, and advanced trading platforms. Established in 2010, Pepperstone offers competitive spreads starting from 0 pips and supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader.

OANDA is another top choice, particularly for beginner traders, due to its user-friendly platforms and comprehensive educational resources. Both brokers are regulated by top-tier authorities, ensuring a secure trading environment.

What is forex trading?

Forex trading, or foreign exchange trading, involves buying and selling currencies on the global market to profit from exchange rate fluctuations. It is the largest financial market in the world, with a daily trading volume exceeding $7.5 trillion. In Singapore, forex trading is popular due to the region’s strong financial infrastructure and regulatory environment. Traders can access various currency pairs, leverage, and advanced trading platforms, making forex a dynamic and accessible trading activity.

How do you start trading forex?

To start trading forex in Singapore, first, choose a reputable broker regulated by the Monetary Authority of Singapore (MAS) or another top authority like the Australian Securities and Investments Commission (ASIC). Open a trading account and deposit funds, typically starting at $200. Next, familiarise yourself with trading platforms like MetaTrader 4 or 5. Educate yourself through online courses and practise with a demo account. Finally, develop a trading strategy, focusing on risk management and staying updated on global financial news.

Is Singapore good for forex trading?

Yes, Singapore is excellent for forex trading due to its strong regulatory framework and strategic location. The Monetary Authority of Singapore (MAS) ensures a safe trading environment. Singapore’s strong financial infrastructure, advanced technology, and connectivity to global markets make it a prime hub for forex traders. Additionally, the availability of reputable brokers and comprehensive educational resources supports both novice and experienced traders in navigating the forex market effectively.

What is MAS?

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and financial regulatory authority. Established in 1971, MAS oversees the country’s financial sector, ensuring monetary stability, managing exchange rates, and promoting a sound financial system. It regulates banks, insurance companies, and securities markets to maintain a safe and competitive financial environment.

What is the best forex trading platform?

The best forex trading platforms for traders in Singapore are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT4 is popular for its user-friendly interface, sophisticated analytical tools, and support for automated trading via Expert Advisors (EAs). MT5 offers enhanced features, including more timeframes, advanced charting tools, and a broader range of asset classes. Both platforms are widely supported by top brokers like Pepperstone and OANDA, providing competitive spreads and a comprehensive trading experience.

What is the maximum leverage allowed when trading CFDs?

In Singapore, the Monetary Authority of Singapore (MAS) sets specific leverage limits for trading CFDs, varying by asset class. For major forex pairs, the maximum leverage is 1:20. Non-major currency pairs, gold, and major indices have a leverage cap of 1:10. Commodities other than gold and non-major equity indices are limited to a maximum leverage of 1:5. These restrictions aim to protect retail traders from significant losses due to the high volatility in these markets.

Why Trust Us

Expertise and Personal Experience

Our team of experts at CompareForexBrokers has extensive experience in the forex industry, bringing a wealth of knowledge and first-hand insights into our broker reviews. Each member of our team has spent years trading and analysing the forex market, ensuring we understand the nuances and intricacies that matter to traders.

Our Methodology

We conduct thorough evaluations of each broker from a user’s perspective. Our reviews are based on rigorous testing, detailed research, and practical experience. This hands-on approach allows us to assess various performance metrics, such as trading costs, execution speeds, platform usability, and customer service quality.

Evidence-Based Reviews

Our reviews are supported by quantitative measurements and objective data. For instance, we provide specific details on spreads, commission rates, execution speeds, platform features, and up to date TrustPilot ratings. These metrics help traders make informed decisions based on clear, factual information.

Unique Insights

We highlight what sets each broker apart from its competitors. By comparing features like account types, trading platforms, and customer support, we help you find the best broker for your specific needs. We also discuss the benefits and drawbacks of each broker, based on our original research and personal experience.

Broker Evolution

Our reviews consider the evolution of each broker’s services and platforms. We examine how brokers have improved their offerings over time, addressing past issues and enhancing user experience. This historical perspective is crucial for understanding the current state and future potential of each broker.

Decision-Making Factors

We focus on the most important factors that influence trading decisions, such as regulatory compliance, security of funds, trading costs, and platform features. By prioritising these key elements, we provide a comprehensive and relevant assessment for traders.

Additional Resources

To further support your trading journey, we provide links to useful resources:

• Investopedia — The Best Times to Trade the Forex Markets
• Yahoo Finance — Singapore Business News
• Myfxbook — Singapore Economic Calendar
• CompareForexBrokers — Guide to the Best Forex Brokers in Singapore

These resources offer valuable information on regulations, educational content, economic data, and financial news, helping you stay informed and make better trading decisions.

Commitment to Quality

Our commitment to providing high-quality, reliable information is evident in every review we publish. We aim to be your trusted source for forex broker comparisons, ensuring you have all the information you need to choose the right broker for your trading needs.

Conclusion

By leveraging our expertise, rigorous testing, and comprehensive analysis, we strive to offer the most accurate and useful reviews in the industry. Trust CompareForexBrokers to guide you in finding the best forex brokers in Singapore. Our commitment to quality and dedication to providing valuable insights ensure you can trade with confidence and achieve your financial goals.