Best Forex Brokers in Singapore 2024

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Forex trading is a profitable venture that any Singaporean can engage in, either part-time or full-time. But, to reap maximum returns, you must educate yourself and trade with a good platform. Finding a forex platform Singapore can be challenging since many service providers are available in this region. But don’t worry, we are here to help with that.

Our seasoned gurus researched, vetted, and selected the best forex brokers in Singapore. We’ve reviewed them in this comprehensive guide, alongside their pros and cons. With the insights outlined here, you will be better positioned to choose a trading platform that can fuel your journey to becoming a profitable forex trader.

In a Nutshell

  • Despite being risky, forex trading can be a lucrative venture. But you need an excellent broker to attain maximum success.
  • Picking an excellent trading platform in Singapore is challenging since many options are available.
  • We’ve made the selection process easier by evaluating forex brokers that accept Singaporeans and selecting 5 pace setters.
  • While searching for the best forex brokers in Singapore, our experts considered numerous factors, including licensing, fees, and financial instruments.
  • The platforms recommended in this guide are regulated by numerous authorities, including the MAS, which authorises and monitors brokers operating in Singapore.

List of the Best Forex Brokers in Singapore

  • Pepperstone – Best Overall Forex Broker in Singapore
  • AvaTrade – Best Forex Broker for Beginners in Singapore
  • Plus500* – Best for Broker for CFD Traders in Singapore
  • eToro – Best Forex Broker for Portfolio Diversification
  • FP Markets – Best Broker for Professional Forex Traders

Note: 80% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.

In This Guide

Compare Forex Trading Platforms in Singapore

Innumerable forex trading platforms accept Singaporeans. That raises one crucial question: how did we pick the best brokers in Singapore from the available multitude? The answer is simple. We conducted extensive online research and identified a handful of the most reputable companies in Singapore. Then, our experts evaluated these brokers, pitched them against each other, and hand-picked 5 that are a cut above the rest.

While evaluating and comparing the forex trading platforms in Singapore, we kept numerous factors in mind, from licensing and regulatory status to customer support availability and supported payment methods. We also ranked the selected brokers based on their ratings and reviews on popular platforms like Google Play, the App Store, and Trustpilot. You should do the same when looking for the best forex trading platform Singapore.

Here’s a quick rundown of the primary factors we considered while evaluating brokers and picking the best service providers in Singapore.

Best Forex Broker SingaporeLicense & RegulationSupport ServiceSoftwarePayment MethodDemo Account
PepperstoneMAS, FCA, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin,24/5TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social tradingVisa, Mastercard, Bank transfer, Neteller, Skrill, PayPalYes
AvaTradeMAS, FCA, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA24/5WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated TradingCredit/debit cards, Neteller, Skrill, Wire transfer, WebMoneyYes
Plus500*MAS, FSCA, CySEC (#250/14), FCA, ASIC,24/7Plus500 CFDVisa, MasterCard, PayPal, Skrill, Bank transferYes
eToro MAS, FCA, CySEC, FSCAASIC, SFSA ADGM, MFSA, FSAS, GFSC, SEC24/5eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart PortfoliosCredit/debit card, Bank transfer, Klarna, PayPal, Skrill, Neteller Yes
FP MarketsMAS, FCA, FSCA, ASIC, CMA, CySEC, FSA24/7MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy TradingDebit/credit card, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay Yes

Note: 80% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.

Brokers Overview

A trader’s primary goal is to reap profits from financial markets. That said, several elements can eat away at your profitability, with fees at the top of the list. To maximise returns, you must trade with a service provider with affordable costs. Additionally, ensure your chosen broker offers the financial instruments you prefer before signing up. Otherwise, you’ll waste valuable time and get disappointed in the future.

Considering what we’ve discussed, use the table below to identify the best forex broker Singapore based on fees and assets.


Best Forex Broker SingaporeMinimum Deposit RequirementCommission/ SpreadsDeposits/ WithdrawalsInactivity Fee
Pepperstone$0From 0.0 pipsFree$0
AvaTrade$100From 0.13 pipsFree$50 after every 3 consecutive months of inactivity
Plus500* (CFDs)$100From 0%Free$10 monthly
eToro $50From 0%$5 withdrawal fee$10 monthly
FP Markets$100From 0.0 pipsFree$0

Note: 80% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.


Best Forex Broker SingaporeStocksForexCryptoCommoditiesIndicesETFsOptions
eToro YesYesYesYesYesYesYes
FP MarketsYesYesYesYesYesYesYes

Note: 80% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.

Our Opinion about Forex Trading Platforms in Singapore

After spending many days researching and analysing these platforms, we’ve shared our opinions and reviews of the best forex brokers in Singapore. We always test every service provider with both demo and live accounts before featuring it in our guide. Everything we say and recommend stems from extensive research and first-hand experience.

Here are detailed overviews of the best trading platforms in Singapore.  

1. Pepperstone – Best Overall Forex Broker in Singapore

Pepperstone was founded in 2010 and boasts hundreds of thousands of users. We’ve ranked it the best overall forex platform Singapore for various reasons. To begin with, Pepperstone offers traders access to over 90 FX pairs. They range from majors and minors to exotics, NDFs, and crosses. As a Singaporean, you can trade everything from AUD/SGD and CAD/SGD to EUR/SGD and CHF/SGD.

We also recommend Pepperstone to Singaporeans because this forex broker offers a broad range of trading platforms. You can trade with the proprietary Pepperstone Trading Platform or download the broker’s dedicated mobile app for trading on the go. Additionally, as a Pepperstone client, you get uncapped access to TradingView, cTrader, and MT4/5.

Finally, Pepperstone is an outstanding broker that has zero minimum deposit requirements, cost-free transactions, and no inactivity fees. That makes it an ideal choice, even for low-budget traders.


✔800+ instruments
✔No minimum deposit requirement

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2,510 User Reviews
4,260 User Reviews
1 User Reviews
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Our Rating
Total Rating:
6,771 User Reviews
Pros & Cons
Trading Assets


  • No minimum deposit requirement
  • Cost-free deposits and withdrawals
  • Zero inactivity fees
  • Hosts third-party software like MT4 and MT5
  • Low spread starting from 0.0 pips


  • Product offerings are limited to FX pairs and CFDs
  • Fewer educational tools compared to other industry leaders

We identified numerous fees and costs on Pepperstone. First, from our exploration, we discovered that Pepperstone users are subjected to spreads and commissions that vary depending on market conditions and account type. This platform has two accounts: Standard and Razor. Both are associated with different charges and conditions. For instance, Razor accounts only attract commissions when users trade CFDs on Forex.

Pepperstone also charges overnight funding, which kicks in when a trader holds a position in commodities, equities, indices, metals, or cryptocurrencies overnight after 5 p.m. New York Time. This broker’s overnight funding charges vary depending on different factors, including underlying TomNext rate changes.

But here’s the best thing you can derive from our Pepperstone broker review, especially where fees are involved. Pepperstone doesn’t charge account inactivity fees. Moreover, this platform doesn’t charge a single dime for deposits and withdrawals. Furthermore, this broker has no minimum deposit requirements.

The product offerings on Pepperstone didn’t disappoint. This broker allows traders to open a universe of possibilities with diverse assets. We saw over 800 CFDs on this platform, including:

  • Commodities: Pepperstone allows traders to trade a wide variety of commodities. Available options include cotton, coffee, sugar, orange juice, cocoa, and more. Precious products like silver, gold, palladium, and platinum are also offered. You can use any of these assets to diversify your portfolio and minimize risk exposure, especially during market turmoil. The best part is that Pepperstone’s commodities come with zero commissions.
  • Forex: Are you a forex enthusiast? Check out Pepperstone’s products; we did, and they were impressive. This broker has everything, from majors to minors and exotics. Moreover, the platform lets you dive into forex trading while enjoying competitive spreads and low commissions. That’s not all. While trading forex on Pepperstone, you get flexible leverage and high-quality execution.
  • Indices: Pepperstone’s trading platform is chock-full of tradeable indices. They offer you the golden opportunity to capitalize on the movement of 14 major global stock markets. Pepperstone’s indices have no hidden markups, re-quotes, or dealing desk.
  • Currency indices: Pepperstone gave us ample opportunity to profit from shifts in the value of different currencies against baskets of other currencies. The platform did that through currency indices.
  • Shares: Upon joining Pepperstone, you can go short or long on a variety of top US shares. Available options range from Alibaba and Boeing to Apple and Tesla. Note that you need MetaTrader 5 to trade shares on Pepperstone.

2. AvaTrade – Best Forex Broker for Beginners in Singapore

Suppose you’re new to forex trading. AvaTrade is here to help you kick your career into high gear. This broker is dedicated to providing all the materials and tools that novice forex traders need. We visited its Educational Center and were impressed by the wide variety of resources offered there, from basic articles to advanced tutorials.

AvaTrade also offers Ava Academy to Singaporeans who are starting out in the forex trading scene. This platform has comprehensive courses that don’t cost a dime. You can use them to master the fundamentals of forex trading, craft the most effective strategies, and learn to manage risk effectively. After acquiring sufficient knowledge, you can use an AvaTrade demo account to test yourself and hone your skills through constant practice.


✔Low minimum deposit requirement
✔Features automated trading on its copy trading platform

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8,669 User Reviews
10,300 User Reviews
24 User Reviews
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Our Rating
Total Rating:
18,993 User Reviews
Pros & Cons
Trading Assets


  • Premier educational tools and materials
  • Simple, beginner-friendly user interface
  • World-class customer support
  • Provides third-party platforms like MT4 and MT5
  • Zero deposit and withdrawal fees


  • Limited financial instruments compared to its peers
  • Higher spreads than other industry leaders

AvaTrade charges low fees for trading and non-trading services. When we started with the broker, we found the first deposit requirement of $100 or its equivalent to be low. Plus, all deposits and withdrawals at AvaTrade are free.

Commissions and spreads at AvaTrade are also low in our opinion. For instance, trading forex attracts low fees from 0.9 pips on major currency pairs. We also tried trading stocks and incurred low charges from 0.2 pips.

On the downside, AvaTrade charges a high inactivity fee of $50/£50/€50. This depends on your account currency. The fee applies should your account remain inactive for over three months. Plus, there is an annual administration fee of $100/€100/£100 after 12 months of inactivity. Other fee to expect with this broker is overnight charges for positions left overnight. Its margin rates are also low, from 3.33%, depending on your jurisdiction.

It is important to note that while AvaTrade offers social trading, accessing this feature via the DupliTrade and ZuluTrade platforms can be costly for low-budget traders. You are required to deposit at least $2,000 for DupliTrade and $200 for ZuluTrade platforms.

At AvaTrade, we explored over 1250 CFD instruments across multiple asset classes. We like this element, as it will make it easier for you to diversify your portfolio on a single platform. Let’s explore AvaTrade’s featured securities below.

  • Forex: AvaTrade lists over 50 currency pairs, including major, minor, and exotic.
  • Commodities: AvaTrade offers over 19 CFD commodities, including crude oil, gold, copper, natural gas, and more.
  • Cryptocurrencies: Enjoy 20+ crypto tokens at AvaTrade. Popular examples include Bitcoin, Litecoin, Solana, Dogecoin, and more.
  • Stocks: You will trade over 600 stocks, including prominent companies like Tesla, Netflix, Apple, Google, and more.
  • Indices: Over 30 stock index CFD assets are also available at AvaTrade.
  • ETFs: For ETF traders, this broker exposes you to over 60 options, all of which you can trade at low spreads.
  • Bonds: When it comes to bonds, AvaTrade only offers two options, including EURO-BUND and JAPAN GOVT BOND.

This broker only supports forex and CFD trading instruments. This means that you cannot use AvaTrade to buy an asset and take full ownership.

Before engaging in CFD trading, understand that the activity carries risks. Over 76% of retail traders lose money in this venture. Therefore, understand what CFD trading is and the risks that come with it before investing your hard-earned money.

3. Plus500 – Best for Broker for CFD Traders in Singapore

CFD trading makes it possible for traders like yourself to speculate on the price movements of different FX pairs without purchasing the underlying assets. If you are interested in this endeavour, we recommend Plus500. With this broker, you can trade CFD on over 60 currency pairs, from USD/SGD and AUD/SGD to GBP/SGD and EUR/SGD.

We also urge CFD traders to try Plus500 since it has some of the friendliest spreads. You can trade CFDs on popular pairs like EUR/USD and enjoy spreads as low as 0.00014 pips. This broker also helps you reduce expenses through free deposits and withdrawals.

In addition to currency pairs, Plus500 allows users to trade CFDs on stocks, commodities, indices, and more. This means diversifying your portfolio will be relatively easy when trading with this service provider. Note, Plus500CY Ltd authorized & regulated by CySEC (#250/14).

Note: 80% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.


✔Available in 50+ countries
✔Easy account registration and setup

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80% of retail investor accounts lose money when trading CFDs with this provider.
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Trading Assets


  • Exquisitely designed web platform and mobile app
  • Low spreads starting from 0.0 pips
  • No deposit or withdrawal fees
  • Remarkable multilingual support service available 24/7
  • Quality educational resources


  • Exclusively offers CFDs in Singapore
  • It doesn’t host third-party trading platforms like MT4/5
  • $10 monthly inactivity fee

One thing we love about Plus500 is that the platform offers most of its services without charging a dime. Moreover, the company practices optimum transparency regarding any costs or charges. While trading on Plus500, we enjoy free deposits and zero internal withdrawal fees.

However, we had to incur reasonable charges, courtesy of the buy/sell spreads. The good thing is this broker lets you choose between dynamic and fixed spreads. We preferred fixed spreads since they allowed us to minimize risk during high volatility periods, especially when we were trading with smaller stakes. But, if you are a fan of swing trading and often deal with higher balances, you can check Plus500’s variable spreads. And don’t worry about paying commissions because Plus500 supports commission-free trades.

Depending on your trading activities on Plus500, you may also incur the following fees and costs:

  • Overnight funding: If you open a position and fail to close after a specific cut-off time, otherwise known as the Overnight Funding Time, Plus500 may add or subtract a certain amount of overnight funding from your account. Plus500 uses this formula to determine the exact amount of overnight funding to charge you: Trade Size x Position Opening Rate x Point Value x Daily Overnight Funding %.
  • Currency conversion fee: While trading on Plus500, you will incur currency conversion charges every time you dabble with an instrument whose currency denomination differs from your trading account’s currency. During our test, Plus500’s currency conversion fee was up to 0.7% of each trade’s net profit and loss.
  • Guaranteed stop order: Plus500 has a unique order type that guarantees the stop loss level even in highly volatile markets. You can use it to minimize losses and maximize returns, but it’ll cost you money. The fee comes in the form of a wider spread.
  • Inactivity fee: Suppose your Plus500 trading account stays dormant for over three months. Your company will charge you up to $10 per month. This fee enables Plus500 to cover the costs of maintaining your inactive account.

Plus500 primarily supports CFD trading. Therefore, this broker allows traders to speculate on the price movements of specific assets without owning them. Presently, this broker offers over 2800 CFD-related financial instruments, including:

  • Shares: Plus500 allows traders to invest in shares from numerous countries, including the US, the UK, South Africa, Spain, Singapore, Hong Kong, and Australia. The most popular options include NASDAQ, NVIDIA, Apple, Tesla, Netflix, and AMEX. Through this platform, you can also trade share CFDs from top cannabis companies like Canopy Growth, Aurora Cannabis, and Tilray Brands.
  • Forex: If you are a forex enthusiast, trading with Plus500 will allow you to invest in over 60 currency pairs. They include popular choices like EUR/USD, EUR/ GBP, GBP/USD, USD/CAD, and AUD/USD. Exotic pairs such as NZD/CAD, NZD/CHF, and CHF/DKK are also supported by this platform. Plus500 allows users to trade FX pairs from Monday at 08:00 Sydney time to Friday at 16:00 New York Time.
  • Cryptocurrencies:  You can trade crypto CFDs on Plus500. While trading crypto, you get up to 1:2 leverage. Unlike many other products on this platform, crypto trading is available 24/7. Not to forget, Plus500 gives you everything you need to interact with digital currencies. You don’t need to get a unique digital wallet or use an exchange account.
  • Indices: If you want to trade popular indices like US-TECH 100, France 40, and S&P 500, Plus500 should be your go-to broker. This platform supports all these indices and more. Moreover, it allows indices traders to enjoy leverages of up to 1:20.
  • Options: Plus500 allows investors to trade options with up to 1:5 leverage. The platform supports many options, including Natural Gas, the S&P 500, the US-TECH 100, NVIDIA, VIX, and ARM. Meta, German 40, and oil are also available on the platform.
  • ETFs: If you’re an ETF trading enthusiast, Plus500 offers you the opportunity to dive into the market with up to 1:5 leverage. And you can get started with as little as $100. Available ETFs range from USO-Oil Fund and GLD Gold to NUGT and VOO.
  • Commodities: Commodities are plenty on Plus500. You can choose anything that tickles your fancy, be it natural gas, oil, heating oil, silver, gold, or aluminum- the list is endless. While trading your favorite commodities, Plus500 allows you to exploit up to 1:20 leverage.

4. eToro – Best Forex Broker for Portfolio Diversification

Portfolio diversification is every successful trader’s holy grail. While investing in the forex market, you should always diversify and use different instruments to mitigate risk exposure. Otherwise, if you put all of your capital in one asset, things may go against you, causing disastrous financial losses.

Considering the above, eToro is the best broker for forex traders who value portfolio diversification. With an eToro account, you get access to over 40 tradable currency pairs. Additionally, you can hedge against risk by trading and investing in other assets, from crypto and real shares to CFDs on commodities, indices, and more.

The eToro trading platform is tailored for both novices and professionals. You can source indispensable risk management tips from the broker’s educational materials if you are still learning the basics. On the other hand, eToro offers news and analysis upd


✔ 5,000+ instruments
✔ Features social and copy trading

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{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
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139,000 User Reviews
29 User Reviews
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Pros & Cons
Trading Assets


  • A broader range of instruments than its peers
  • Provides premier research and analysis tools
  • Offers free educational materials and a top-tier academy
  • No deposit fees
  • Easy-to-navigate user interface


  • $5 fee for all withdrawal requests
  • $10 monthly inactivity fee

eToro doesn’t charge any account registration or deposit fees. We signed up and funded our account without incurring any costs. Of course, we had to adhere to eToro’s minimum deposit requirements, which vary depending on geographical location. For instance, the minimum amount you can deposit in your eToro account is $100 in the US or the UK. On the other hand, people in countries like Germany and Greece can deposit as little as $50. Visit eToro’s minimum deposit page to find out more.

That said, we encountered several eToro fees and expenses during our exploration, including:

  • A $5 fixed withdrawal fee: According to eToro, this fee is indispensable in covering international money transfer costs.
  • Currency conversion fees: All eToro accounts are USD-centered. If you fund your account or withdraw money using any other currency, expect to pay conversion fees. The charges vary depending on PIPs and payment methods. Luckily, traders can join the eToro club and enjoy significant discounts.
  • A $10 monthly inactivity fee: If you fail to log into your account for 12 or more months, you will incur a monthly $10 fee.
  • Crypto fees: eToro requires crypto investors to pay a 1% buy/sell fee. As an investor, you must also cover market spreads, which vary depending on market conditions. Transferring crypto to your eToro Money digital wallet also attracts a 2% fee. The crypto asset transfer fees are capped at 1$ minimum and a $100 maximum.
  • CFD spreads: Like many other brokers, eToro has CFD spreads that vary depending on assets and instruments.

eToro is chock-full of product offerings. From our exploration, we unearthed the following:

  • Stocks: We explored eToro’s stock offerings and encountered many juicy options commission-free. They include Apple, Microsoft, NVIDIA, and Meta.
  • Indices: After joining eToro, you can follow and invest in indices from multiple leading global markets. The indices on this platform vary from SPX500 to NASDAQ1OO and GER40. We recommend such indices to investors looking to diversify their portfolios and minimize risk exposure.
  • ETFs: eToro offers a wide variety of exchange-traded funds (ETFs). This platform has hundreds of ETFs, including popular options like SPY, VOO, INDA, and QQQ. The best thing about these products is that they are ready-made. Investing in them means you won’t have to spend time and energy cherry-picking assets individually.
  • Currencies: Our team discovered over 40 currency pairs on eToro. We tested a few popular options, including EURUSD, USDJPY, AUDJPY, USDCAD, and EURCAD. We also found numerous exotic pairs on this platform, such as EURHUF, USDTRY, EURPLN, and USDILS.
  • Commodities: eToro gives traders uncapped access to 40+ commodity markets, making it a superb platform for speculators or retail investors. Through this broker, you can trade and invest in commodities such as gold, oil, silver, corn, platinum, cocoa, and palladium.
  • Cryptoassets: eToro has 100+ vetted cryptoassets, including popular ones like Bitcoin, Ethereum, Solana, and XRP. You can buy, sell, and transfer most of these digital currencies to your eToro Money wallet.

5. FP Markets – Best Broker for Professional Forex Traders

After analysing countless service providers, we believe FP Markets is the best broker for professional traders in Singapore. That is because it offers a wide variety of financial instruments, including over 70 currency pairs. While trading forex on this platform, professional traders can optimise their experiences with free deposits and low spreads starting from 0.0 pips.

Additionally, FP Markets has different types of trading accounts. As a guru, you can choose to trade with a standard or raw account. Both come with juicy features like flexible leverages of up to 500:1 for professional traders and Expert Advisors (EAs). You can also open a professional account, which comes with crucial features like negative balance protection and a dedicated personal account manager.

FP Markets is also ideal for professionals since it hosts a variety of coveted trading platforms, including cTrader, TradingView, and MetaTrader 4/5.

FP Markets

✔Free deposits and withdrawals
✔No inactivity fees

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Pros & Cons
Trading Assets


  • Allows professionals to upgrade to special accounts with unique features
  • Offers spreads as low as 0.0 pips to forex traders
  • Hosts top-notch third-party trading platforms like MT4 and MT5
  • No deposit and withdrawal fees
  • Dormant accounts incur zero inactivity fees
  • Provides 24/7 customer support


  • Demanding eligibility requirements for professional accounts
  • Iress has a $1,000 minimum deposit requirement

The outstanding perks of using FP Markets include free deposits or withdrawals. This broker goes above and beyond by covering all internal bank fees arising from international transfers. Moreover, you can start your journey with a free demo account before switching to a live account. Keep in mind that FP Markets’ minimum deposit requirement is $100.

The other commendable thing is this broker has reduced non-trading costs and charges. Take inactivity fees as an example. Unlike many of its peers, FP Markets doesn’t penalize dormant accounts. So, you can stay logged out of your account for as long as you like without fretting over accumulating fees.

That said, we encountered numerous other FP Markets fees and costs. Although you can open a Standard account, which comes with 0 commissions, you’ll still face variable spreads, starting from 1.0 pips. On the other hand, IRESS, FP Markets’ sophisticated premium platform, has commissions that vary depending on geographical location. IressTrader/ ViewPoint also has a mandated $60 fee. Luckily, there are free alternatives like MT4 and MT5, which have no platform fees.

FP Markets lets its clients pick their favorite assets from over 10,000 tradable instruments. This broker mainly deals with CFDs, which let you trade and capitalize on price movements in different markets. But you can also trade forex here.

Below is a comprehensive list of all FP Market’s product offerings:

  • Forex: You can trade Forex with FP Markets and access 70+ currency pairs, flexible leverages of up to 500:1, and minimum spreads of up to 0.0.
  • Shares: FP Markets offers you the opportunity to trade 10,000+ Australian and international share CFDS. The share CFDs come from different markets, including London, Amsterdam, and Hong Kong.
  • Metals: If you’d like to trade metal CFDs, try FP Markets. This broker gives you access to tradeable CFDs related to precious metals like gold, silver, and palladium.
  • Indices: Various index CFDs are supported by FP Markets. They range from EUREX TO NASDAQ 100 and S&P 500.
  • Commodities: FP Markets allows you to diversify your portfolio by trading commodities CFDs. You will get uncapped access to CFDs related to diverse commodities, including gold, silver, and oil.
  • Cryptocurrencies: With an FP Markets account, you can trade crypto CFDs whenever you like. The platform supports popular digital currencies, including Bitcoin, Ripple (XRP), and Ethereum.
  • Bonds: Bond trading is available on FP Markets. It’s a fitting option for traders who prefer dealing with lower-volatility markets.
  • ETFs: The FP Markets trading platform offers a wide variety of ETFs, including ACWI, EEM, and QQQ.

Forex Trading in Singapore

Forex trading is legal in Singapore. But this venture is strictly for Singaporeans aged 18 and above. Moreover, forex traders in this country are encouraged to interact with brokers licensed and regulated by the Monetary Authority of Singapore (MAS) for maximum security and safety.

If you are eligible, you can start trading FX pairs on your PC, tablet, or smartphone today. But note that the forex markets expose you to financial losses. Before diving in, budget wisely and learn how to mitigate risk exposure effectively. For instance, you can implement tools like stop-loss orders and limit yourself to risking less than 2% of your capital per trade.

Also, note that many fraudulent trading companies are targeting Singaporeans. To avoid dishing out your data and hard-earned cash to malicious actors, choose a broker to trade with carefully.

How to Choose the Right Forex Broker in SG

An intimidating number of forex brokers is available in Singapore. That can make picking the best trading platform incredibly challenging. But don’t give up yet. Use the tips outlined below to increase your chances of finding the most fitting service provider:


The first thing you should check while evaluating a forex broker is licensing and regulation. A multi-regulated broker follows strict rules and standards tailored to protect you against issues like financial fraud and data theft. Consequently, you should prioritise trading with a service provider that obeys regulations set by MAS and other authorities.

Before registering with a trading platform, check if it allows users like you to trade your favourite financial instruments. Furthermore, ensure you pick a broker with broad product offerings to facilitate seamless portfolio diversification.

Don’t sign up with a forex broker before going through the list of provided and hosted trading platforms. Additionally, look for a platform that aligns with your trading strategies and guarantees unquestionable stability. If you are a fan of third-party software like MetaTrader, ensure the broker you choose hosts such solutions.

Seasoned traders like us maximise profitability by trading with affordable brokers. You should follow suit since high costs erode your profit margins. While assessing a service provider’s affordability, check transaction costs, spreads, account maintenance fees, and other charges. They should be outlined in the broker’s fee structure.

You might encounter several challenges while navigating or trading with a specific broker. Also, you may need to ask a few questions or seek clarification where ambiguous mandates are involved. Such issues require prompt, expert assistance. Before committing to any service provider, check whether its customer support team is equipped to address any problems or concerns in good time.

You can assess the reputation of a forex broker through online ratings and reviews. While assessing if a service provider is perfect for you, visit Google Play, the App Store, and Trustpilot. On these platforms, you’ll find user feedback and testimonials regarding crucial aspects like the company’s ethics, dedication to solving customer issues, and transparency where fees are involved.

How To Register an Account with a Forex Broker SG

Don’t be intimidated by the account registration process. It may sound complicated, but it’s not. We registered with every broker reviewed here, and our accounts were good to go within a few minutes. Here’s how you can seamlessly open a forex trading account today:

Step 1: Visit the broker’s official site
Step 2: Set up your account
Step 3: Complete verification
Step 4: Make a deposit
Step 5: Trade

Pick a service provider from our list of the best forex brokers in Singapore. Then, visit the company’s official site. Before registering, explore and check if the broker meets your expectations in terms of supported assets, trading platforms, fees, etc.

Click the sign-up, register, or join button to open your account. You can also install the provided mobile app from the official site and register with it. While setting up your account, provide authentic and accurate details like your name, email, and phone number. Furthermore, optimise the security of your account by setting a formidable password.

Filling out the application form isn’t the alpha and omega of account registration. Since these are regulated brokers, you must also undergo KYC verification. That requires you to share documents for verifying your identity and address. The former can be a national ID or driver’s license. On the other hand, you can use recent bank statements as proof of address.

After your account has been verified, choose a payment method and fund you account. While doing so, remember that some brokers require new customers to meet specific first-time minimum deposit requirements. Also, check if your chosen payment method has any transaction fees. The latter shouldn’t bug you that much because the brokers recommended here have free deposits.

Lastly, pick a financial instrument, specify a lot size, and place your order. Remember to minimise losses and maximise returns with stop-loss and take-profit orders. Moreover, monitor all your trades in real time whenever possible.


We’ve made your work easier by recommending top forex brokers in Singapore that you can trade with today. Pick a service provider from our list based on your goals and preferences. Remember to deal with a MAS-regulated trading platform to avoid complications like fraud and data theft.

Finally, emotions like greed and frustration can cloud your judgment and cause costly mistakes. Learn to manage your emotions while trading FX pairs. 

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Thadeus Geodfrey

Thadeus Geodfrey is a leading voice in the financial industry. You’ll appreciate the expert ease with which he does this. He deciphers the intricate link between emotions and behavior in trading and investment. With extensive experience as a senior trading writer, Thadeus imparts his knowledge and confidence to guide your trading boat. He’ll make you conquer your fears, break barriers, and capitalize on every potential opportunity. Follow his pieces and develop your knack for trading.