Intro and winners
Find below the strengths of the best forex brokers available in Singapore, updated for 2024:
- Saxo is the best forex broker in Singapore in 2024 - Massive number of currency pairs. Low withdrawal fee. High-quality charting.
- Fusion Markets - One of the lowest commissions on the market. Wide range of currencies. Low withdrawal fee.
- Global Prime - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
- IC Markets - Low FX commission and tight spreads. Wide range of currencies. Low withdrawal fee.
- GO Markets - Low FX commission and tight spreads. Low withdrawal fee. Low minimum deposit.
- FP Markets - Decent currency pair selection. Great mobile trading platform. Outstanding education tools.
- CMC Markets - Immense number of currency pairs. Low withdrawal fee. FX spreads are competitive.
- Pepperstone - Low FX commission and tight spreads. Low withdrawal fee. excellent account opening.
- Tickmill - Low FX commission and tight spread. Rich selection of currency pairs. Low withdrawal fee.
- FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
Overview of the best forex brokers in Singapore
While many forex trading brokers offer an excellent service, the ones in our toplist go the extra mile.
| Broker | FX commission per lot | Minimum deposit |
|---|---|---|
| Saxo | No commission is charged | $0 |
| Fusion Markets | $2.25 commission per lot per trade | $0 |
| Global Prime | $3.50 commission per lot per trade | $0 |
| IC Markets | $3.50 commission per lot per trade | $200 |
| GO Markets | €2.00 commission per lot per trade | $0 |
| FP Markets | $3.00 commission per lot per trade | $50 |
| CMC Markets | No commission is charged | $0 |
| Pepperstone | $3.50 commission per lot per trade | $0 |
| Tickmill | $3.00 commission per lot per trade | $100 |
| FXTRADING.com | $2.00 commission per lot per trade | $50 |
Popularity of the best forex brokers in Singapore
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
Comparison of forex spreads
In most cases, the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important forex spreads in the table below to help with your calculations.
| Broker | EURUSD spread | GBPUSD spread |
|---|---|---|
| Saxo | 0.9 | 1.0 |
| Fusion Markets | 0.0 | 0.0 |
| Global Prime | 0.1 | 0.2 |
| IC Markets | 0.0 | 0.0 |
| GO Markets | 0.2 | 0.4 |
| FP Markets | 0.1 | 0.5 |
| CMC Markets | 0.5 | 0.9 |
| Pepperstone | 0.1 | 0.2 |
| Tickmill | 0.2 | 0.3 |
| FXTRADING.com | 0.1 | 0.3 |
Brokers
Currency
If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.
Other fees at forex in Singapore
Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
| Broker | Withdrawal fee | Inactivity fee |
|---|---|---|
| Saxo | $0 | |
| Fusion Markets | $0 | |
| Global Prime | $0 | |
| IC Markets | $0 | |
| GO Markets | $0 | |
| FP Markets | $0 | |
| CMC Markets | $0 | |
| Pepperstone | $0 | |
| Tickmill | $0 | |
| FXTRADING.com | $0 |
Is forex trading legal in Singapore?
Singapore is the third largest FX center globally with over a half trillion dollars traded in FX in the county on a daily basis. Foreign exchange trading is legal in Singapore and pivotal to the country's standing as a major financial hub in the region. We only recommend regulated, safe, and reliable brokers, so each of these top picks is a good choice to start trading.
The Monetary Authority of Singapore (MAS) is the regulator and supervisor of financial institutions. Before a broker can accept forex and CFD traders from Singapore as clients, they must be authorized by the MAS, whose main mandates include rooting out scam brokers. The regulator does not provide investor protection.
And now, let's see the top forex brokers in for residents in Singapore one by one, starting with the winner, Saxo.
Recommended for investors and traders looking for a great trading platform and solid research
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64% of retail CFD accounts lose money
| Saxo snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 5.0 stars |
| Deposit method | Bank transfer, Credit/debit cards |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Currency pairs | 190 |
| Inactivity fee | No |
| Read review | For a detailed analysis of Saxo services, check out our review for 2024 |
Recommended for forex traders looking for low fees and a chance to use the MetaTrader 4 platform
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74-89% of retail CFD accounts lose money
| Fusion Markets snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku |
| Withdrawal fee | $0 |
| Currency pairs | 90 |
| Inactivity fee | No |
| Read review | For a detailed analysis of Fusion Markets services, check out our review for 2024 |
Recommended for forex and CFD traders who are familiar with the MetaTrader trading platforms
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74-89% of retail CFD accounts lose money
| Global Prime snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, GATE8, DragonPay, VNPay, PromptPay, Bpay, POLi, AstroPay, Interac, PayID, Perfect Money, XPay, Rapyd, BinancePay, Jeton, Mifinity, FasaPay, Pagsmile |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, GATE8, DragonPay, VNPay, PromptPay, Bpay, POLi, AstroPay, Interac, PayID, Perfect Money, XPay, Rapyd, BinancePay, Jeton, Mifinity, FasaPay, Pagsmile |
| Withdrawal fee | $0 |
| Currency pairs | 56 |
| Inactivity fee | No |
| Read review | For a detailed analysis of Global Prime services, check out our review for 2024 |
Recommended for forex and CFD traders who value easy account opening and free deposit/withdrawal options
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70.64% of retail CFD accounts lose money
| IC Markets snapshot | |
|---|---|
| Minimum deposit | $200 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna |
| Withdrawal fee | $0 |
| Currency pairs | 61 |
| Inactivity fee | No |
| Read review | For a detailed analysis of IC Markets services, check out our review for 2024 |
Recommended for forex traders who like the MetaTrader platform
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62% of retail CFD accounts lose money
| GO Markets snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, Skrill, Neteller, DotPay, Bpay, PayID, dotpay, checkout, Worldpay |
| Withdrawal method | Bank transfer, Skrill, Neteller, DotPay, Bpay, PayID, dotpay, checkout, Worldpay |
| Withdrawal fee | $0 |
| Currency pairs | 50 |
| Inactivity fee | No |
| Read review | For a detailed analysis of GO Markets services, check out our review for 2024 |
Recommended for forex and CFD traders familiar with the MetaTrader and IRESS trading platforms
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72.5% of retail CFD accounts lose money
| FP Markets snapshot | |
|---|---|
| Minimum deposit | $50 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, Neteller, Skrill, PayPal, Asia Banks, Sticpay, fasapay, Virtual Pay, Rupee Payments, Rapyd, Perfect Money, pagsmile, Cryptocurrency Solution, Crypto (finrax), mybux, ypay, Apple Pay, Google Pay, B2Binpay |
| Withdrawal method | Bank transfer, Credit/debit cards, Neteller, Skrill, PayPal, Asia Banks, Sticpay, fasapay, Virtual Pay, Rupee Payments, Rapyd, Perfect Money, pagsmile, Cryptocurrency Solution, Crypto (finrax), mybux, ypay, Apple Pay, Google Pay, B2Binpay |
| Withdrawal fee | $0 |
| Currency pairs | 70 |
| Inactivity fee | No |
| Read review | For a detailed analysis of FP Markets services, check out our review for 2024 |
Recommended for forex and CFD traders looking for an advanced trading platform with many research tools
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71% of retail CFD accounts lose money
| CMC Markets snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 5.0 stars |
| Deposit method | Bank transfer, Credit/debit cards |
| Withdrawal method | Bank transfer, Credit/debit cards |
| Withdrawal fee | $0 |
| Currency pairs | 330 |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of CMC Markets services, check out our review for 2024 |
Recommended for forex traders looking for great account opening and customer service
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75.2% of retail CFD accounts lose money
| Pepperstone snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID |
| Withdrawal method | Bank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID |
| Withdrawal fee | $0 |
| Currency pairs | 97 |
| Inactivity fee | No |
| Read review | For a detailed analysis of Pepperstone services, check out our review for 2024 |
Recommended for forex traders looking for low fees who are familiar with the MetaTrader 4 platform
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69% of retail CFD accounts lose money
| Tickmill snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, Neteller, Skrill, Przelewy, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards, Neteller, Skrill, Przelewy, PayPal |
| Withdrawal fee | $0 |
| Currency pairs | 62 |
| Inactivity fee | No |
| Read review | For a detailed analysis of Tickmill services, check out our review for 2024 |
Recommended for forex traders who prefer the MetaTrader platform
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74-89% of retail CFD accounts lose money
| FXTRADING.com snapshot | |
|---|---|
| Minimum deposit | $50 |
| Mobile app score | 3.8 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Neteller, UnionPay, USDT |
| Withdrawal method | Bank transfer, PayPal, Neteller, UnionPay, USDT |
| Withdrawal fee | $0 |
| Currency pairs | 43 |
| Inactivity fee | No |
| Read review | For a detailed analysis of FXTRADING.com services, check out our review for 2024 |
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How did BrokerChooser select the best FX brokers in Singapore?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fee, commission),
- Compared the number of currency pairs,
- Checked order routing and research,
- Opened an account and tested the platform (charting, features, usability, customer service).
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 600 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 60,000 data points overall.
FAQ
What times does the forex market open in Singapore?
The forex market is open 6am to 6pm from Monday to Saturday Singapore time.
Are forex gains taxable in Singapore?
There is no capital gains tax in Singapore, therefore you do not need to pay tax on the profits you gained from trading forex.
Which are the top forex brokers in the world?
The top 5 forex brokers in the world in 2024:
- Saxo - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
- Fusion Markets - Low trading and non-trading fees. Fast and easy account opening. Great customer service.
- Global Prime - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
- IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offers standard and raw spread accounts.
- GO Markets - Low forex fees. Fast account opening. Great educational tools.
- FP Markets - Low forex fees. Easy and fast account opening and funding. Great education tools.
- CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
- Pepperstone - Fast and fully digital account opening. Seamless and free deposit and withdrawal. Great educational materials.
- Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
- FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
How to find the best forex brokers?
The key aspects to consider when choosing a forex brokers is safety and access. Makes sure you always select a broker that is licensed or overseen by a top-tier regulator, such as the SEC in the US, the FCA in the UK or BaFin Germany. As a next step, check to see if the broker accepts clients from your country of residence.
Save yourself hours of research and check out our broker finder tool and find the best broker for you.
Want to understand forex trading in more detail?
Check out these articles written by our broker and trading experts:
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
