Best forex brokers in Singapore in 2025

Written by
Krisztián G.
Fact checked by
Tamás D.
Updated
Dec 2024

Find below the strengths of the best forex brokers available in Singapore, updated for 2025:

  1. Saxo is the best forex broker in Singapore in 2025 - Massive number of currency pairs. Low withdrawal fee. High-quality charting.
  2. Fusion Markets - One of the lowest commissions on the market. Wide range of currencies. Low withdrawal fee.
  3. CMC Markets - Immense number of currency pairs. Low withdrawal fee. FX spreads are competitive.
  4. IC Markets - Low FX commission and tight spreads. Wide range of currencies. Low withdrawal fee.
  5. Global Prime - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  6. Pepperstone - Low FX commission and tight spreads. Low withdrawal fee. excellent account opening.
  7. Capital.com - Low forex fees. Wide range of currencies. Superb account opening process.
  8. Axi - Low forex fees. No withdrawal/deposit fees. Fully digital account opening.
  9. GO Markets - Low FX commission and tight spreads. Low withdrawal fee. Low minimum deposit.
  10. Tickmill - Low FX commission and tight spread. Rich selection of currency pairs. Low withdrawal fee.

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
$1 commission for trades less than 0.5 lot
$0
Fusion Markets
$2.25 commission per lot per trade
$0
CMC Markets
No commission is charged
$0
IC Markets
$3.50 commission per lot per trade
$200
Global Prime
$3.50 commission per lot per trade
$0
Pepperstone
$3.50 commission per lot per trade
$0
Capital.com
No commission is charged
$20
Axi
$3.50 commission per lot per trade
$0
GO Markets
€2.00 commission per lot per trade
$0
Tickmill
$3.00 commission per lot per trade
$100
Best forex brokers in Singapore key data compiled for December 2024

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
CMC Markets
0.6
1.0
IC Markets
0.0
0.0
Global Prime
0.1
0.2
Pepperstone
0.1
0.2
Capital.com
0.6
1.3
Axi
0.2
0.6
GO Markets
0.4
0.5
Tickmill
0.2
0.3
Spreads at the best forex brokers in Singapore in 2025
We collect spreads regularly, please check the tooltip for the date of the data collection.
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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
CMC Markets
$0
IC Markets
$0
Global Prime
$0
Pepperstone
$0
Capital.com
$0
Axi
$0
GO Markets
$0
Tickmill
$0
Non-trading fees at the best forex brokers in Singapore in 2025

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

Visit broker
62% 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 2025

Recommended for forex traders looking for low fees and a chance to use the MetaTrader 4 platform

Visit broker
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 2025

Recommended for forex and CFD traders looking for an advanced trading platform with many research tools

Visit broker
69% 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 2025

Recommended for forex and CFD traders who value easy account opening and free deposit/withdrawal options

Visit broker
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 2025

Recommended for forex and CFD traders who are familiar with the MetaTrader trading platforms

Visit broker
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 2025

Recommended for forex traders looking for great account opening and customer service

Visit broker
75.1% 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 2025

Recommended for investors and CFD traders looking for a great trading platform and excellent customer service

Visit broker
82.12% of retail CFD accounts lose money

Capital.com snapshot
Minimum deposit $20
Mobile app score 4.9 stars
Deposit method Bank transfer, Credit/debit cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly
Withdrawal method Bank transfer, Credit/debit cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly
Withdrawal fee $0
Currency pairs 125
Inactivity fee Yes
Read review For a detailed analysis of Capital.com services, check out our review for 2025
Axi Logo

Axi

Recommended for forex traders familiar with the MetaTrader 4 platform

Visit broker
76.3% of retail CFD accounts lose money

Axi snapshot
Minimum deposit $0
Mobile app score 3.8 stars
Deposit method Bank transfer, Credit/debit cards, Neteller, Skrill, Sofort, GiroPay, iDeal, Polish Internet Banking, Global Collect, China Union Pay
Withdrawal method Bank transfer, Credit/debit cards, Neteller, Skrill, Sofort, GiroPay, iDeal, Polish Internet Banking, Global Collect, China Union Pay
Withdrawal fee $0
Currency pairs 86
Inactivity fee Yes
Read review For a detailed analysis of Axi services, check out our review for 2025

Recommended for forex traders who like the MetaTrader platform

Visit broker
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 2025

Recommended for forex traders looking for low fees who are familiar with the MetaTrader 4 platform

Visit broker
71% 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 Yes
Read review For a detailed analysis of Tickmill services, check out our review for 2025

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How did BrokerChooser select the best FX brokers in Singapore?

  • Made sure that all the brokers on our toplist are overseen by a trusted regulator,
  • Compared fees (with a special focus on spreads, withdrawal fee, commission),
  • Examined the number of currency pairs available for trading,
  • Checked order routing and research quality,
  • Opened an account and tested the platform (charting, features, usability, customer service) with our own money.


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 2025:

  1. Saxo - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
  2. Fusion Markets - Low trading and non-trading fees. Fast and easy account opening. Great customer service.
  3. CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
  4. IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offers standard and raw spread accounts.
  5. Global Prime - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  6. Pepperstone - Fast and fully digital account opening. Seamless and free deposit and withdrawal. Great educational materials.
  7. Capital.com - Low forex CFD fees. Great account opening experience. Excellent email and chat support.
  8. Axi - Low forex fees. No withdrawal/deposit fees. Fully digital account opening.
  9. GO Markets - Low forex and CFD fees. Fast account opening. Great educational tools.
  10. Tickmill - Low forex fees. Fast and easy 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.

author
Krisztián Gátonyi
Author of this article
I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.
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