Best Forex Brokers in Singapore for 2025
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top Forex brokers Singapore based on our analysis:
- 1
AvaTrade - Best Forex trading platform Singapore - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 2
FP Markets - Robust regulation, serious fund protection plus segregated accounts in AA banks. Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server. Rich selection of trading platforms. - 3
PrimeXBT - Fast registration and verification. Tight spreads and low fees on crypto futures. Unified account for Forex, CFDs, cryptocurrencies, copy trading, and tournaments. - 4
AMarkets - A wide range of trading assets. Extensive analytical capabilities using modern tools and trading robots. No commissions on many operations. - 5
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 6
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 7
CMC Markets SG - Low trading fees. Wide range of markets and products. Access to the popular MetaTrader 4 and CMC Markets platforms. - 8
- 9
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 10
This list is a comprehensive guide crafted to aid you in discovering a broker that not only aligns with your unique trading style but prioritizes safeguarding your financial assets. Each broker on this list stands out for their distinctive features, cutting-edge technology, and robust security measures, ensuring a top-tier trading experience in Singapore's dynamic Forex market.
List of the Best Forex Brokers in Singapore 2025
1. AvaTrade
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
2. FP Markets
FP Markets successfully combines a strict licensing framework, a fast ECN order book with zero spreads, a rich selection of platforms — ranging from classic MT4/5 to TradingView and Iress DMA — and a developed analytics, education, and 24/7 support infrastructure. This combination makes the broker attractive for active scalpers and algorithmic traders who value speed and moderate commission per lot, as well as for investors preferring copy trading, PAMM/MAM, or DMA stocks via Iress. Beginners will benefit from a low entry of 100 AUD, online courses, and no inactivity fees.
Pros and Cons of FP Markets
Pros
- Robust regulation, serious fund protection plus segregated accounts in AA banks.
- Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server.
- Rich selection of trading platforms.
- Wide range of instruments.
- Numerous deposit/withdrawal methods.
- Strong analytics and education.
- 24/7 support.
Cons
- Lack of cent accounts and fixed spread accounts.
- Some analytical materials and software are accessible only with a deposit or trading volume.
3. PrimeXBT
PrimeXBT is an excellent platform for active Forex and cryptocurrency traders, scalpers, high-leverage enthusiasts, and those who value rapid registration, low fees, and integrated copy trading. The platform is particularly attractive if you combine margin trading on traditional markets with crypto futures, and do not require spot ETFs, bonds, or first-tier licenses (FCA/CySEC). Moreover, extensive tournaments, bonuses, and VIP discounts make it appealing for beginner traders looking to start without large deposits.
Pros and Cons of PrimeXBT
Pros
- Fast registration and verification.
- Tight spreads and low fees on crypto futures.
- Unified account for Forex, CFDs, cryptocurrencies, copy trading, and tournaments.
- No inactivity fees.
- 3 free fiat withdrawals per month.
- 24/7 customer support.
Cons
- Second-tier regulation (FSA Seychelles, FSCA South Africa; no FCA/CySEC).
- Balance denominated only in USD – potential conversion costs.
- No telephone support.
4. AMarkets
AMarkets is a versatile broker offering a full range of services in the Forex market. It enables independent trading and investing funds in copy trading with equal success.
Traders can access several accounts with low spreads, permitted scalping, and fast trade execution. Up-to-date analytics, valuable services, and rapid fund withdrawal support a stable technical platform.
Investors who are not keen on engaging in independent trading can still achieve significant profits by copying the trades of successful traders. Building a portfolio is time-efficient and offers the possibility of passive income.
Pros and Cons of AMarkets
Pros
- A wide range of trading assets.
- Extensive analytical capabilities using modern tools and trading robots.
- No commissions on many operations.
- Convenience and simplicity of opening an account and managing it.
Cons
- Not the most extensive educational materials.
- On some assets, spreads are higher than those of competing Forex brokers.
5. RoboForex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
6. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
7. CMC Markets
CMC Markets SG has been a reliable CFD and Forex broker in the business for a long time. Top-tier financial authorities regulate the company, offers an excellent trading platform, and has low commission fees.
We believe it is an excellent choice for beginners and experienced traders. CMC Markets is a good option if you seek a trustworthy and reputable broker with extensive experience.
Pros and Cons of CMC Markets SG
Pros
- Low trading fees.
- Wide range of markets and products.
- Access to the popular MetaTrader 4 and CMC Markets platforms.
- Extensive analytical materials.
- Comprehensive educational materials.
Cons
- Limited account options.
- Inactivity fee.
- No online chat.
8. Plus500
Plus500 is ideal for traders seeking a convenient and intuitive platform with a broad spectrum of trading instruments. It's particularly well-suited for those who value a diverse range of CFDs on stocks, indices, currencies, commodities, and ETFs. The built-in Insight+ analytics tool is a significant advantage for those keen on analyzing trends and activities based on real-time data.
Pros and Cons of Plus500
Pros
- Diversity of trading assets.
- Intuitive trading platform.
- 24/7 support.
- Built-in analytics.
Cons
- Limited channels for communication with technical support.
- Limited choice of trading accounts.
9. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
10. Oanda
Oanda is an excellent choice for Singaporean traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of Oanda SG
Pros
- Tight spreads.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
How are Forex Brokers Regulated in Singapore?
The regulatory framework for Forex and CFD brokers in Singapore is comprehensive and stringent, designed to ensure the transparency and integrity of trading activities.
Key Regulatory Bodies in Singapore
Monetary Authority of Singapore (MAS). MAS is the central authority regulating financial markets in Singapore, including Forex brokers. It is responsible for setting and enforcing guidelines to protect investors and maintain the market's integrity.
Singapore Exchange (SGX). SGX, as a leading exchange in Asia, also contributes to regulating financial markets, including Foreign exchange trading, ensuring adherence to high standards and practices.
Verifying Broker Authorization
To verify a broker's authorization under MAS, traders can use MAS's online financial institutions directory. This resource allows investors to check if a Forex broker is regulated and authorized to operate in Singapore. A broker's website will typically include a statement of their regulatory status under MAS.
Traders should look for the broker’s name in the MAS directory for confirmation. Additional broker licensing and regulation information can be found on various financial market websites and platforms for further validation.
How We Compiled the List of Top Forex Brokers in Singapore
Our process for identifying the best Forex trading platforms in Singapore was executed with meticulous attention to detail and a robust set of criteria:
The positioning of brokers is based on our primary list of Forex brokers, ensuring that they align with our established rankings.
Brokers have been evaluated using our detailed methodology, designed to assess their performance and services objectively.
All brokers in this top list accept Forex and CFD traders from Singapore, ensuring accessibility and suitability for Singaporean Forex market participants.
Our criteria ensure that the Forex and CFD brokers we recommend adhere to high-reliability standards and offer trading conditions essential for safe and successful participation in the Forex industry.
FAQ
What Is the Best Forex Trading Platform in Singapore?
The best Forex trading platform in Singapore differs based on individual trader requirements and preferences. Popular platforms include MetaTrader 4 (MT4) and MetaTrader 5 (MT5), known for their robust features and user-friendly interfaces. Other platforms like cTrader and proprietary platforms of specific brokers may also offer unique advantages. When choosing, it's essential to consider usability, tools offered, mobile trading options, and platform stability.
Is Forex Trading Legal in Singapore?
Yes, Forex trading is legal in Singapore. The Monetary Authority of Singapore (MAS) well-regulated the sector, ensuring financial markets operate transparently and ethically. Traders should engage with brokers regulated by MAS to ensure safety and compliance with local laws.
How to Start Trading Forex in Singapore?
To start Forex trading in Singapore, follow these steps:
Educate yourself about Forex trading basics.
Choose a Forex broker, preferably one regulated by MAS.
Open and fund your trading account.
Start with a demo account to practice trading without risking real money.
Develop a trading strategy based on your risk tolerance and financial goals.
Begin trading with real funds, starting small and gradually increasing your investment as you gain experience.
Can Singapore Traders Use International Forex Brokers?
Singapore traders can use international Forex brokers; however, choosing brokers regulated by reputable authorities like MAS, FCA, ASIC, or CySEC is recommended. This ensures compliance with international standards and provides a level of protection. Traders should be aware of the regulatory status and reputation of the broker before investing.
What Are the Forex Trading Hours in Singapore?
Forex markets operate 24 hours a day, five days a week, across various time zones. The currency market opens on Monday morning for Singapore traders, with the Sydney session at 5:00 AM (Singapore Time). It closes on Saturday morning with the New York session at 5:00 AM (Singapore Time). Traders must note the overlapping market sessions, which can offer higher volatility and trading volume. Singaporean traders can use the Forex Market Time Converter tool to track these trading hours effectively. This tool helps plan trading activities according to the global open market sessions.
Are Forex Gains Taxable in Singapore?
In Singapore, Forex gains are generally not taxable as they are considered capital gains, which Singapore does not tax. However, if Forex trading is conducted professionally or as a primary source of income, it may be regarded as taxable. It's advisable to consult with a tax professional for personalized advice.
What Leverage Is Available for Forex Traders in Singapore?
In Singapore, the leverage available to retail Forex traders is capped at 1:20, following the rules of the Monetary Authority of Singapore (MAS). This limitation protects retail investors from the high risks associated with excessive leverage. However, if a trader qualifies as an accredited investor, the leverage limit is extended to 1:50. These regulations are part of MAS's commitment to ensuring a safe and responsible trading environment.
How to Avoid Forex Scams in Singapore?
To avoid Forex scams in Singapore, follow these guidelines:
Only trade with MAS-regulated Forex brokers.
Be wary of promises of high returns with little or no risk.
Research the broker's background and regulatory status.
Avoid brokers that pressure you to invest quickly or promise guaranteed returns.
Be cautious with unsolicited investment offers.
Educate yourself on common Forex scam tactics.
Report any suspicious activity to MAS or the police.
