Best Forex Brokers in Singapore 2026
We tested and ranked the top 5 forex brokers for Singapore traders. Every broker accepts Singapore clients, supports SGD deposits, and is regulated by top-tier international authorities.
Quick Answer: Best Forex Brokers in Singapore
The best forex brokers for Singapore traders in 2026 are: 1. OANDA: best overall with MAS CMS licence, SGD accounts, and PayNow deposits; 2. IG Markets: best research with MAS licence and 17,000+ markets; 3. Saxo Bank: best premium platform with MAS licence and institutional-grade tools; 4. IC Markets: lowest raw spreads (0.0 pips); 5. Plus500: MAS-licensed simplest platform. OANDA, IG, Saxo, and Plus500 hold MAS Capital Markets Services licences. Singapore has no capital gains tax on forex trading profits, making it one of the most tax-efficient jurisdictions globally for retail traders.
Forex Regulation in Singapore
The Monetary Authority of Singapore (MAS) regulates all financial services under the Securities and Futures Act (SFA). MAS-licensed brokers must hold Capital Markets Services (CMS) licences, segregate client funds at approved Singapore banks, maintain base capital of at least SGD 1 million, and submit regular financial reports. Singapore is Asia's premier financial hub with rigorous, transparent regulation. Crucially, Singapore has no capital gains tax. forex trading profits are generally not taxable for individual retail traders unless trading constitutes a business.
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Top 5 Forex Brokers for Singapore Traders
Ranked by regulation, SGD deposit support, spreads, and trader reviews.
OANDA holds a MAS Capital Markets Services (CMS) licence and has served Singapore traders since 2004. It offers SGD-denominated accounts, no minimum deposit, PayNow instant deposits via DBS/OCBC/UOB, and competitive spreads on 70+ forex pairs.
IG Markets holds a MAS CMS licence and is ideal for experienced Singapore traders who need award-winning research, ProRealTime advanced charting, 17,000+ markets, and SGD bank transfer deposits via DBS, OCBC, and UOB.
Saxo Bank holds a MAS CMS licence and is built for Singapore professional traders who demand institutional-grade SaxoTraderPRO, SGD accounts, access to 40,000+ instruments across forex/stocks/bonds, and DMA pricing.
IC Markets delivers the lowest raw spreads globally (0.0 pips EUR/USD) for Singapore traders seeking ECN execution, MT4/MT5/cTrader, and ASIC + CySEC regulation. AUD/USD and SGD pairs benefit from fast APAC server routing.
Plus500 holds a MAS CMS licence and appeals to Singapore CFD traders who value a clean, proprietary platform with no-commission pricing (spread-only fees), SGD deposits via PayNow, and mandatory negative balance protection. New traders should use the free demo account before trading live.
Singapore Broker Comparison at a Glance
| Broker | Min Deposit | Spreads | Regulation | Score | Platforms |
|---|---|---|---|---|---|
| OANDA | $0 | 0.6 pips (Standard) | FCA, CFTC, ASIC, MAS, IIROC | 4.4 | MT4, fxTrade |
| IG Markets | $0 | 0.6 pips (Standard) | FCA, ASIC, MAS, BaFin, FINMA | 4.5 | MT4, IG Platform, ProRealTime |
| Saxo Bank | $2000 | 0.4 pips (Classic) | FCA, ASIC, MAS, FINMA, JFSA | 4.4 | SaxoTraderGO, SaxoTraderPRO, MT4 |
| IC Markets | $200 | 0.0 pips (Raw) | ASIC, CySEC, FSA | 4.7 | MT4, MT5, cTrader |
| Plus500 | $100 | 0.8 pips (Variable) | FCA, ASIC, CySEC, MAS, FMA | 4.3 | Plus500 WebTrader |
How to Start Trading Forex in Singapore
- Pick a regulated broker that accepts Singapore traders and supports SGD deposits. We recommend starting with OANDA for the best overall experience, or IG Markets if you prefer a lower entry point.
- Open and verify your account. Upload your ID and proof of address. Most brokers complete verification within 24 hours.
- Fund your account using PayNow (SGD) or Bank Transfer (DBS/OCBC/UOB). Minimum deposits start from $100 at the brokers listed above.
- Practice on a demo account first. Every broker on this page offers a free demo with virtual funds. Spend at least a few weeks learning the platform, testing strategies, and understanding risk before using real money.
- Start small and manage your risk. Never trade with money you cannot afford to lose. Use stop-losses on every trade, and keep your position sizes small relative to your account balance.
How We Rank Brokers for Singapore
We open real accounts, deposit real money, and test each broker hands-on. Our rankings combine five factors weighted for Singapore traders specifically:
- Regulation and safety (MAS recognition, fund segregation, negative balance protection)
- SGD deposit and withdrawal speed (local payment method support, conversion fees, processing time)
- Trading costs (live spread sampling across 20+ sessions, commission structure, overnight fees)
- Platform quality (execution speed, charting, mobile app reliability)
- Trustpilot and user reviews (verified trader feedback, complaint resolution, support quality)
Brokers cannot pay for higher placement. If a broker scores poorly in testing, it does not appear on this page regardless of commercial relationship. Read our full testing methodology for details.
Trade Forex with OANDA: MAS CMS Licensed ✓
OANDA holds a MAS Capital Markets Services (CMS) licence and has served Singapore traders since 2004. It offers SGD-denominated accounts, no minimum deposit, PayNow instant deposits via DBS/OCBC/UOB, and competitive spreads on 70+ forex pairs.
Singapore Forex Trading: FAQs
Common questions from Singapore-based forex traders.
Accepted Payment Methods in Singapore
Rankings based on SGD deposit support, regulatory standing (MAS), spreads, withdrawal speed, and trader reviews. We open and fund real accounts to verify claims. Brokers cannot pay for higher rankings. Last updated: May 2026.