Top 3 Recommended Best Forex Brokers in Singapore
Tested with real cash by our research analysts. Ranked by capital safety, execution latency, and all-in trading costs.
★ 9.8 / 10XM
Top Overall Recommendation
- Min Deposit: 5 USD
- Spreads: From 0 pips
- Belize FSC Regulated & Audited
★ 9.3 / 10Capital.com
Excellent Trading Conditions
- Min Deposit: $20
- Spreads: From 0.6 pips on EUR/USD
- UK FCA Regulated & Audited
★ 9.3 / 10Interactive Brokers
Institutional Trust & Safety
- Min Deposit: 0 USD
- Spreads: Raw institutional from 0.1 pips
- SEC Regulated & Audited
Best Forex Brokers in Singapore: Side-by-Side Fee & Safety Table
Independently verified metrics for initial capital, spreads, commissions, and Tier-1 fund safety.
| Broker Platform | Score | Accessibility & Deposit | Trading Costs (EUR/USD) | Regulatory Oversight | Actions |
|---|---|---|---|---|---|
| ★ 9.8/10 | Min Deposit: 5 USD Free Demo0.01 Lots | Raw Spread: From 0 pips Commission: Spread Only | FCA+9 other licenses (Belize FSC, DFSA...) | ||
| ★ 9.3/10 | Min Deposit: $20 Free Demo0.01 Lots | Raw Spread: From 0.6 pips on EUR/USD Commission: Zero commission on all CFD shares, forex & commodities | ASIC+3 other licenses (UK FCA, CySEC...) | ||
| ★ 9.3/10 | Min Deposit: 0 USD Free Demo0.01 Lots | Raw Spread: Raw institutional from 0.1 pips Commission: 0.08 to 0.20 bps of trade value ($1-$2 minimum) | CFTC+5 other licenses (SEC, NFA...) | ||
| ★ 9.2/10 | Min Deposit: 250 USD Free Demo0.01 Lots | Raw Spread: From 0.6 pips Commission: Zero on FX; Shares from 0.10% | FCA+6 other licenses (CFTC, NFA...) | ||
| ★ 9.1/10 | Min Deposit: $0 Free Demo0.01 Lots | Raw Spread: From 0.0 pips (EUR/USD average 0.05 pips) Commission: $2.25 per lot ($4.50 round-turn) | ASIC+1 other licenses (VFSC) | ||
| ★ 9.1/10 | Min Deposit: 0 USD Free Demo0.01 Lots | Raw Spread: From 0.6 pips on Classic Commission: Zero on FX pairs | FCA+4 other licenses (Danish FSA, MAS...) |
All Ranked Best Forex Brokers in Singapore
Detailed breakdowns with verified pros, cons, fees, and regulatory licenses.
XM
5 USD
From 0 pips
1 : 1000
Capital.com
$20
From 0.6 pips on EUR/USD
1:30
Interactive Brokers
0 USD
Raw institutional from 0.1 pips
1 : 50
IG Group
250 USD
From 0.6 pips
1 : 200
Fusion Markets
$0
From 0.0 pips (EUR/USD average 0.05 pips)
1:500
Saxo Bank
0 USD
From 0.6 pips on Classic
1 : 100
CMC Markets
0 USD
From 0.5 pips on EUR/USD (typical 0.7 pips)
1 : 500
FXCM
$50
From 0.2 pips on Active Trader, 1.1 on Standard
1:400
FXTM
200 USD
From 0 pips
1 : 3000
Global Prime
$0
From 0.0 pips (EUR/USD average 0.1)
1:100
OANDA
0 USD
From 0.6 pips on Core pricing
1 : 200
Swissquote
1000 USD
From 1.1 pips Standard
1 : 400
ThinkMarkets
$0
From 0.0 pips (ThinkZero account)
1:500
TMGM
100 USD
From 0.0 pips
1 : 1000
eToro
50 USD
From 1.0 pips on EUR/USD
1 : 400
FXOpen
$300
From 0.0 pips (EUR/USD raw typical 0.1)
1:500
Vantage Markets
50 USD
From 0 pips
1 : 1000
XTB
0 USD
From 0.8 pips on EUR/USD
1 : 500
EBC Financial Group
100 USD
From 0.0 pips
1 : 500
FP Markets
100 AUD
Raw from 0.0 pips on Raw Account
1 : 500
Rakuten Securities
$50
From 0.5 pips on Standard, 0.0 on Pro
1:400
AvaTrade
100 USD
Fixed from 0.9 pips on EUR/USD
1 : 400
City Index
100 USD
From 0.5 pips on EUR/USD
1 : 400
Markets.com
$100
From 0.6 pips on EUR/USD
1:300
Pepperstone
200 USD
From 0.0 pips
1 : 500
Tickmill
100 USD
Raw from 0.0 pips on Pro Account
1 : 500
Trade Nation
$0
Fixed from 0.6 pips (EUR/USD fixed spread day & night)
1:200
Axi
0 USD
Raw from 0.0 pips on Pro Account
1 : 500
Doo Prime
$100
From 0.1 pips (Quantum ECN)
1:1000
GO Markets
200 USD
From 0 pips
1 : 300
Ingot Brokers
$100
From 0.0 pips (Raw ECN), 1.0 on Standard
1:500
Plus500
100 USD
Dynamic from 0.8 pips on EUR/USD
1 : 300
HFM
0 USD
From 0.0 pips on Zero Account
1 : 2000
Moneta Markets
$50
From 0.0 pips (Prime ECN)
1:1000
StarTrader
$50
From 0.0 pips (ECN), 1.2 on Standard
1:500
VT Markets
$50
From 0.0 pips (Raw ECN)
1:500
easyMarkets
25 USD
Guaranteed fixed spreads from 0.8 pips on VIP
1 : 400
BeeMarkets
0 USD
From 0 pips
1 : 500
FxPro
1 USD
From 0 pips
1 : 500
HYCM
100 USD
Raw from 0.1 pips ($4/lot side) on Raw
1 : 500
AUS Global
50 USD
From 0.0 pips
1 : 500
FBS
5 USD
From 0.7 pips on Standard accounts
1 : 3000
IC Markets
200 USD
From 0.0 pips
1 : 500
MultiBank Group
50 USD
From 0.0 pips
1 : 500
EightCap
100 USD
From 0 pips
1 : 500
Exness
1 USD
From 0 pips
1 : 2000
Forex.com
100 USD
From 0.0 pips
1 : 200
Maiv Limited - Rock West
100 USD
From 0.0 pips
1 : 500
IronFX
100 USD
From 0.0 pips on Zero Fixed
1 : 1000
WeTrade
100 USD
From 0.0 pips
1 : 2000
ATFX
100 USD
From 0.6 pips
1 : 200
OneRoyal
50 USD
From 0.0 pips
1 : 1000
Admiral Markets
1 USD
From 0 pips
1 : 30
The Trader's Guide to the Best Forex Brokers in Singapore (2026 Audit)
Singapore is the world's third-largest foreign exchange trading center, trailing only London and New York. For Singaporean traders, choosing a broker involves evaluating two distinct paths: domestic MAS-licensed custody banks (such as Interactive Brokers Singapore, IG Asia, and Saxo Capital Markets) for local corporate protection, or top-tier multi-regulated international institutions (such as XM and Pepperstone) for flexible leverage, micro-lot sizing, and swap-free privileges.
Key Evaluation Criteria for Singapore Traders
- Regulatory Structure & CMS Licensing: Verify whether the broker holds an active Monetary Authority of Singapore (MAS) CMS license, or international Tier-1 oversight from the UK FCA or Australian ASIC.
- Local SGD Payment Rails: The best brokers support seamless local deposits and withdrawals via PayNow, FAST interbank transfers, and local DBS, OCBC, and UOB bank accounts with zero currency conversion fees.
- Execution Latency: Fast optical cross-connects to Equinix SG1/SG3 data centers minimize slippage on Asian and European session market opens.
Frequently Asked Questions About Best Forex Brokers in Singapore
Direct, factual answers to common questions about regulation, fees, and execution.
How are forex brokers regulated in Singapore?
Forex brokers in Singapore are licensed and supervised by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act (SFA), holding a Capital Markets Services (CMS) license for retail leveraged FX.
What is the maximum retail forex leverage in Singapore?
Under MAS regulations, retail non-accredited investors are capped at 1:20 maximum leverage for major and minor currency pairs. Accredited investors and institutional entities can access higher leverage tiers.
Do Singaporean traders pay tax on forex trading profits?
Under Inland Revenue Authority of Singapore (IRAS) guidelines, individual capital gains from personal forex trading are generally 0% tax-exempt, provided trading is not conducted as a registered commercial business.
High-Risk Investment Warning
Forex and CFD trading involves significant risk to your capital. Between 70% and 89% of retail investor accounts lose money when trading CFDs. Always test execution on demo accounts before depositing real funds. Forex Brokers Verified provides independent educational reviews and comparison tools; we do not provide personal financial or investment advice.