Best Forex Brokers in Singapore | SehndeWeb

In this guide, we review best forex brokers in singapore. We have analyzed and rated 174 forex brokers in 8 different categories. We measured all aspects of their service, including trading platforms, fees, mobile trading, deposits and withdrawals, assets, regulations, research and education, and customer support.

Forex brokers who have achieved the highest score are considered in the following list:

Best Singapore Forex Brokers

  • AVAtrade – Best forex broker overall with a high trust score
  • – Best trading tools and forex trading features
  • XM – Best forex broker for beginners and intermediate traders
  • Saxo Bank – Best forex broker for advanced users and research
  • Interactive brokers – Best forex broker for advanced users
  • Pepper – Best forex broker with low trading fees and customer support

Best Forex Brokers for Singapore Citizens

#1 AVAtrade ​Best overall offer 4.9/5 Low spreads $100
#2 Best Features 4.9/5 Tools and Features $100
#3 XM Ideal for forex trading 4.8/5 Different assets $5
#4 Saxo Bank Ideal for premium traders 4.8/5 Currency trading $10,000
#5 Interactive brokers Best Overall Broker 4.8/5 Global business experience $0
#6 Pepper Lowest trading fees 4.7/5 Low fees $0

Find below a list of the best forex brokers in Singapore, start with the best – AVAtrade.

01. AVAtrade: Best Forex Broker Overall


AVAtrade takes first place as best forex broker for singapore traders. They have an intuitive and sophisticated trading platform and a mobile trading app that supports over 50 different forex currency pairs.

Deposits and withdrawals are free. The minimum deposit is $100. Choose AVAtrade if you are a beginner or semi-advanced forex trader looking to trade major forex currency pairs as CFDs with an authorized forex broker.

02. Best Forex Trading Platforms and Features

forex com rating finished in second place with the best forex trading platform. Their feature-rich, multi-asset trading platform offers a wide range of proprietary platforms, advanced social trading features, and excellent asset coverage. offers trading on over 4500 different CFDs in the form of stocks, cryptos, currencies and access to 5500 tradable symbols in total.

Their excellent all-round offering makes this forex and CFD broker a good choice for traders at all levels.

03. Saxo Bank: Best Selection of Tradable Assets


Saxo Bank finishes in third place as forex brokers with the best asset coverage. They offer a superb trading platform with all the industry leading features, tools and research materials. Their offering of over 40,000 tradable symbols and 30,000 securities makes them an industry leader in forex trading asset coverage.

If you can afford the $10,000 minimum deposit for Singapore citizens, this is the go-to forex broker for traders and investors at all levels.

Singapore-based forex traders who wish to trade in accordance with Sharia can open an Islamic account. Saxo Bank also offers excellent customer support in the Arabic language by phone, email or in person at its local office in Singapore.

04. Singapore’s Best Forex Broker for Market Research and Education


XM finished in third place as broker with the best selection of market research and educational materials. It is a MetaTrader-only forex broker offering automatic trading, fast order executions, multiple order types and no hidden commissions. We recommend these brokers for newbie traders, due to their low entry level and great educational content.

This broker offers limited regulatory protection.

05. Interactive Brokers: lowest trading fees


Interactive Brokers is an excellent overall choice for traders in Singapore. It is a highly reliable company with an industry-leading trading platform, a competitive fee structure and excellent global market access. Their low entry level and the Global Trader platform, which is an intuitive and easy-to-use trading station, make this broker an excellent choice for beginners and advanced forex traders living in Singapore.

06. Pepperstone: Best MetaTrader and cTrader Forex Broker

pepperstone evaluation

Pepperstone is a trusted Forex and CFD broker well known for its support of multiple copy trading platforms, wide variety of tradable assets, and huge research and education section. The combined offer of cTrader, MetaTrader and various social trading features makes this broker ideal for copy traders and algorithmic traders.

Pepperstone is available via 24/5 phone and online chat support, as well as a comprehensive FAQ web section and email.

How to choose a regulated Forex broker?

Key criteria to consider when choosing a Singapore regulated forex broker include: trading platforms, fees, mobile trading, deposits and withdrawals, assets, regulations, research and education and customer support.

Costs: Avoid brokerage accounts with high transaction fees, overnight fees, and hidden fees.

Trading platforms: Look for forex trading platforms that are intuitive, easy to use, and fast executing.

Mobile commerce: Mobile trading apps should offer the same trading tools and charts as their web versions.

To pay & Withdrawal: Choose a broker that offers your preferred deposit and withdrawal option with low fees.

Assets: Find the best coverage of asset classes and currency pairs. Forex broker that does not offer major currency pairs should be canceled.

Regulation: Choose only DFSA regulated forex brokers.

Research & education: Beginner and average forex traders and investors should choose a broker with research and education tools, including: weekly webinars, daily updates, personal account manager, personal training and access to room.

Customer service: Newbie forex traders should look for responsive and professional customer support available in their language.

Islamic accounts: All brokers in our list of best forex brokers in Singapore offer an Islamic account option. This allows the user to exchange currencies in accordance with Shariah.

Singapore Forex Trading

Forex trading is popular in Singapore due to the large all-round offering of brokerage services, no taxes on forex profits and capital income, and a strict regulatory environment. Forex trading in Singapore is legal and has no government restrictions. The foreign exchange market is regulated, easy to access for beginners and offers security protocols against scams. Singapore citizens can use offshore brokerage services in order to trade currency pairs, maximum leverage limitations and CFDs not offered by Singapore forex brokers.

Singapore Forex Trading Regulations

The Monetary Authority of Singapore (MAS) is the primary financial regulator in Singapore and one of the strictest in the industry. It is not only the main regulator, but also the Central Bank of Singapore. It was found in 1971. In addition to following general industry regulatory standards, MAS requires brokers to segregate investor accounts and company funds in order to obtain a license.

All Singapore forex brokers must be licensed by the MAS in order to offer their financial services to Singapore citizens.

How to check authorization

You can check the validity of a forex broker license in Singapore by going to the official website of the Monetary Authority of Singapore (MAS) and checking the list of registered entities for the name of the broker you wish to trade with or invest. If nothing happens, the broker or trading platform is unlicensed.

If a forex broker is based overseas, you can check their license by going to the official websites of international regulators, including ASIC, CySEC, BaFIN, and FCA, and checking their listings instead. registered entities.


We compared 174 forex brokers in 8 major categories including: trading platforms, fees, mobile trading, deposits and withdrawals, assets, regulation, research and education, customer support and compliance in Sharia.

According to our research, AVAtrade is the best forex broker for Singapore residents. Apart from its great overall offer, it has a competitive fee structure, advanced trading tools, copy trading features and responsive Arabic language customer support. is the best Singapore forex broker for high volume traders due to their reliable trade execution, low overall fees and wide variety of tradable assets.


Is forex trading legal in Singapore?

Forex trading is legal in Singapore. It is regulated by the Monetary Authority of Singapore (MAS).

Is forex trading taxable in Singapore?

Profits made with forex trading are not taxable for Singapore citizens.

Where can I trade forex in Singapore?

You can trade forex in Singapore with domestic forex brokers who have a valid MAS license or with any offshore broker offering services to Singapore residents.

Business24-7’s mission is to provide comprehensive and unbiased reviews and ratings of the best forex brokers. Trading platform, fees, mobile trading, payments, assets, regulation,
education and research are all part of our semi-annual review of a broker’s account. The rating scale was based on thousands of data points which were weighted in the rating system. Brokerages were required to complete a multi-point survey regarding all aspects of their platform. In-person demos and reviews were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology to classify the form used in online investing.

All trading involves risk. Over 80% of investors lose in spread betting and CFD trading. As these complex instruments allow the use of leverage, the risk of losing more money than you deposited is high. Before trying to participate in spread bets and CFDs, assess whether you understand them well and whether you can afford to lose your money.

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