Forex brokers in Singapore
11 of the 94 brokers we rate hold a licence from the Monetary Authority of Singapore (MAS), and 92 in total will open an account for someone in Singapore. The gap between those two numbers is the most useful thing on this page.
How this page is builtWe hold each broker's own list of the countries it will not serve, so "accepts you" means "does not exclude you" - not a promise your application will be approved. Local regulation is read from the licences each broker publishes. Both lists are in rating order, and brokers holding no licence at all are left off entirely.
Regulated in Singapore
These 11 brokers hold a licence from the Monetary Authority of Singapore (MAS). That is a different proposition from a broker that merely accepts your application: a regulator in your own country supervises the entity holding your money, and you have somewhere local to complain when it goes wrong.
CMC MarketsFCAASIC+58.7/10Get started CMC MarketsFind out more CMC Markets
IGFCAASIC+87.9/10Get started IGFind out more IG
Plus500FCAASIC+137.8/10Get started Plus500Find out more Plus500
MultiBank GroupASICMAS+67.8/10Get started MultiBank GroupFind out more MultiBank Group
FOREX.comCFTC/NFAFCA+67.7/10Get started FOREX.comFind out more FOREX.com
Saxo BankFSA (Denmark)FCA+77.6/10Get started Saxo BankFind out more Saxo Bank
SwissquoteFINMAFCA+57.6/10Get started SwissquoteFind out more Swissquote
Interactive BrokersSFC (Hong Kong)6.5/10Find out more Interactive Brokers
OANDACFTC/NFAFCA+46.4/10Find out more OANDA
eToroFCACySEC+56.3/10Find out more eToro
The ten highest rated of 11. The rest appear in the full list below.
What that licence actually protects
MAS applies some of the tightest conduct requirements in the region and licenses comparatively few retail brokers, so a MAS licence is a meaningful signal rather than one entry on a long list.
Retail leverage is capped at 1:20 on major currency pairs for retail clients. Brokers advertising far more are offering it through entities outside Singapore, and which entity takes your account is decided by where you live rather than by which you would prefer.
MAS requires client money to be segregated with an approved institution; there is no retail compensation scheme equivalent to the FSCS.
None of it protects you from losing money on your own trades. It protects you from the firm failing, misusing client money or refusing to deal with a complaint - the risks you cannot manage yourself.
| Broker | Regulators | Founded | Client money segregated | Negative balance protection | Compensation scheme |
|---|---|---|---|---|---|
| CMC Markets | FCAASICBaFin+4 | 1989 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; EdW protection up to €20,000 for eligible German clients; CIPF protection for eligible Canadian investment accounts |
| IG | FCAASICBaFin+7 | 1974 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; statutory schemes vary by regulated entity |
| Plus500 | FCAASICCySEC+12 | 2008 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible Cyprus clients |
| MultiBank Group | ASICMASCySEC+5 | 2005 | Yes | Yes | Lloyd's of London excess-loss insurance up to $1 million per account under MEX Atlantic; statutory protection varies by entity |
| FOREX.com | CFTC/NFAFCAASIC+5 | 2001 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; CIPF protection for eligible Canadian clients; ICF up to €20,000 for eligible CySEC clients; no equivalent statutory US forex compensation scheme |
| Saxo Bank | FSA (Denmark)FCAASIC+6 | 1992 | Yes | Yes | Danish DGS: cash deposits up to €100,000 and unreturned securities up to €20,000 |
| Swissquote | FINMAFCACySEC+4 | 1996 | Yes | Yes | Swiss esisuisse deposit protection up to CHF 100,000; eligible EU CFD clients protected up to €20,000 |
| Interactive Brokers | SFC (Hong Kong) | 1978 | Yes | Yes | SIPC up to $500,000 including $250,000 cash limit for eligible US securities accounts; jurisdiction-specific schemes elsewhere |
| OANDA | CFTC/NFAFCAASIC+3 | 1996 | Yes | Yes | Jurisdiction-dependent; eligible UK clients may receive FSCS protection |
| eToro | FCACySECASIC+4 | 2007 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients; SIPC up to $500,000 including $250,000 cash for eligible US securities clients |
Every broker that accepts clients in Singapore
92 brokers, in rating order. The 11 with a local licence are included here too, so this is the whole picture rather than the remainder.
IC MarketsASICCySEC+39.5/10Get started IC MarketsFind out more IC Markets
TabTradeFSC (Mauritius)9.3/10Get started TabTradeFind out more TabTrade
EightcapASICFCA+49.2/10Get started EightcapFind out more Eightcap
XMCySECASIC+39.1/10Get started XMFind out more XM
FxProFCACySEC+39.1/10Get started FxProFind out more FxPro
Markets.comCySECFSCA (South Africa)9.0/10Get started Markets.comFind out more Markets.com
AvaTradeCentral Bank of IrelandASIC+88.9/10Get started AvaTradeFind out more AvaTrade
ExnessCySECFCA+98.9/10Get started ExnessFind out more Exness
HF MarketsFCACySEC+58.8/10Get started HF MarketsFind out more HF Markets- CMC MarketsFCAASIC+58.7/10Get started CMC MarketsFind out more CMC Markets
FXTMFSC (Mauritius)FSCA (South Africa)+18.6/10Get started FXTMFind out more FXTM
TickmillFCACySEC+38.5/10Get started TickmillFind out more Tickmill
easyMarketsCySECASIC+38.3/10Get started easyMarketsFind out more easyMarkets
Fusion MarketsASICFSA (Seychelles)+18.3/10Get started Fusion MarketsFind out more Fusion Markets
HYCMFCADFSA (DIFC)8.2/10Get started HYCMFind out more HYCM
AdmiralsFCACySEC+68.0/10Get started AdmiralsFind out more Admirals
GO MarketsASICCySEC+18.0/10Get started GO MarketsFind out more GO Markets- IGFCAASIC+87.9/10Get started IGFind out more IG
InstaForexFSC (BVI)7.9/10Get started InstaForexFind out more InstaForex
AlpariMISA (Comoros)7.9/10Get started AlpariFind out more Alpari
AAAFxMISA (Comoros)7.8/10Get started AAAFxFind out more AAAFx- Plus500FCAASIC+137.8/10Get started Plus500Find out more Plus500
- MultiBank GroupASICMAS+67.8/10Get started MultiBank GroupFind out more MultiBank Group
FXOpenFCACySEC7.8/10Get started FXOpenFind out more FXOpen
TMGMASICVFSC (Vanuatu)+27.8/10Get started TMGMFind out more TMGM
EC MarketsFCAASIC+37.8/10Get started EC MarketsFind out more EC Markets
XTBKNFFCA+37.8/10Get started XTBFind out more XTB
Blueberry MarketsASICFSC (Mauritius)+17.7/10Get started Blueberry MarketsFind out more Blueberry Markets
AxiASICFCA+27.7/10Get started AxiFind out more Axi
FP MarketsASICCySEC+47.7/10Get started FP MarketsFind out more FP Markets- FOREX.comCFTC/NFAFCA+67.7/10Get started FOREX.comFind out more FOREX.com
WebullSECFINRA+17.7/10Get started WebullFind out more Webull
ACY SecuritiesASICFSCA (South Africa)7.7/10Get started ACY SecuritiesFind out more ACY Securities
DukascopyFINMAFSA (Japan)+17.6/10Get started DukascopyFind out more Dukascopy- Saxo BankFSA (Denmark)FCA+77.6/10Get started Saxo BankFind out more Saxo Bank
LibertexCySECBaFin7.6/10Get started LibertexFind out more Libertex- SwissquoteFINMAFCA+57.6/10Get started SwissquoteFind out more Swissquote
ActivTradesFCAFSC (Mauritius)+17.6/10Get started ActivTradesFind out more ActivTrades
FXCMFCAASIC+27.6/10Get started FXCMFind out more FXCM
SkillingCySECFSA (Seychelles)7.5/10Get started SkillingFind out more Skilling
Trade.comCySECFCA+27.5/10Get started Trade.comFind out more Trade.com
Trading.comFCAASIC+27.5/10Get started Trading.comFind out more Trading.com
ATFXFCAASIC+77.5/10Get started ATFXFind out more ATFX
BDSwissFSA (Seychelles)FSC (Mauritius)7.5/10Get started BDSwissFind out more BDSwiss
ADS SecuritiesCMA (UAE)7.4/10Get started ADS SecuritiesFind out more ADS Securities
Global PrimeASICVFSC (Vanuatu)7.4/10Get started Global PrimeFind out more Global Prime
Scope MarketsFSC (Belize)FSC (Mauritius)+17.4/10Get started Scope MarketsFind out more Scope Markets
OctaCySECFSC (Mauritius)+27.4/10Get started OctaFind out more Octa
LiteFinanceCySECFSC (Mauritius)7.4/10Get started LiteFinanceFind out more LiteFinance
QuestradeCIRO7.3/10Get started QuestradeFind out more Questrade
MitradeASICCySEC+47.3/10Get started MitradeFind out more Mitrade
TraduFCACySEC+47.3/10Get started TraduFind out more Tradu
FortradeFCAASIC+47.3/10Get started FortradeFind out more Fortrade
FXCCCySECMISA (Comoros)+17.3/10Get started FXCCFind out more FXCC
FXOROCySEC7.2/10Find out more FXORO
IC TradingFSC (Mauritius)7.2/10Get started IC TradingFind out more IC Trading
Trade NationFCAASIC+47.2/10Get started Trade NationFind out more Trade Nation
Capital IndexFCA7.2/10Get started Capital IndexFind out more Capital Index
VT MarketsASICFSCA (South Africa)+27.2/10Get started VT MarketsFind out more VT Markets
IQ OptionCySEC7.2/10Get started IQ OptionFind out more IQ Option
NordFXFSA (Seychelles)FSC (Mauritius)7.2/10Get started NordFXFind out more NordFX
SpreadexFCA7.1/10Get started SpreadexFind out more Spreadex
tastyfxCFTCNFA7.1/10Get started tastyfxFind out more tastyfx
Accendo MarketsFCA7.1/10Get started Accendo MarketsFind out more Accendo Markets
FinecoBank of ItalyCONSOB+17.1/10Get started FinecoFind out more Fineco
ATC BrokersFCACIMA (Cayman Islands)+17.1/10Get started ATC BrokersFind out more ATC Brokers
TopFXCySECFSC (BVI)+17.0/10Get started TopFXFind out more TopFX
iFOREXCySECFSC (BVI)7.0/10Get started iFOREXFind out more iFOREX
OrbexFSC (Mauritius)FSA (Seychelles)7.0/10Get started OrbexFind out more Orbex
XtradeFSC (Belize)FSCA (South Africa)7.0/10Get started XtradeFind out more Xtrade
IUXFSC (Mauritius)FSCA (South Africa)7.0/10Get started IUXFind out more IUX
FXGiantsFSC (BVI)6.9/10Get started FXGiantsFind out more FXGiants
FXChoiceFSC (Belize)6.9/10Get started FXChoiceFind out more FXChoice
Fintrix MarketsFSC (Mauritius)6.9/10Get started Fintrix MarketsFind out more Fintrix Markets
FXDDNot on record6.8/10Get started FXDDFind out more FXDD
RoboForexFSC (Belize)6.8/10Get started RoboForexFind out more RoboForex
Ox SecuritiesNot on record6.8/10Get started Ox SecuritiesFind out more Ox Securities
Focus MarketsASICFSC (Mauritius)6.6/10Get started Focus MarketsFind out more Focus Markets
ThinkMarketsASICFCA+76.6/10Find out more ThinkMarkets- Interactive BrokersSFC (Hong Kong)6.5/10Find out more Interactive Brokers
Charles SchwabSECFINRA+16.5/10Find out more Charles Schwab
PepperstoneASICFCA+56.5/10Find out more Pepperstone
VantageASICFCA+36.4/10Find out more Vantage
FBSFSC (Belize)6.4/10Find out more FBS- OANDACFTC/NFAFCA+46.4/10Find out more OANDA
- eToroFCACySEC+56.3/10Find out more eToro
EquitiFCASCA (UAE)+46.3/10Find out more Equiti
City IndexFCAASIC+16.2/10Find out more City Index
STARTRADERASICFSCA (South Africa)+36.1/10Find out more STARTRADER
Trading 212FCABaFin+35.9/10Find out more Trading 212
Moneta MarketsFCAFSCA (South Africa)+25.7/10Find out more Moneta Markets
BlackBull MarketsFMA (New Zealand)FSA (Seychelles)5.4/10Find out more BlackBull Markets
Trading from Singapore
It is better protected, which is not quite the same thing. MAS applies some of the tightest conduct requirements in the region and licenses comparatively few retail brokers, so a MAS licence is a meaningful signal rather than one entry on a long list.
MAS requires client money to be segregated with an approved institution; there is no retail compensation scheme equivalent to the FSCS.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
92 of the 94 brokers we rate do not list Singapore among the countries they restrict, and 11 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the Monetary Authority of Singapore (MAS), retail leverage is capped at 1:20 on major currency pairs for retail clients. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside Singapore, and which entity takes your account is decided by where you live rather than by which you would prefer.
Our records do not show local payment rails for brokers accepting clients in Singapore, so expect card payments or an international bank transfer.
That matters for both cost and speed, and it matters in both directions - an international wire out is as slow as one in.
It is better protected, which is not quite the same thing. MAS applies some of the tightest conduct requirements in the region and licenses comparatively few retail brokers, so a MAS licence is a meaningful signal rather than one entry on a long list.
MAS requires client money to be segregated with an approved institution; there is no retail compensation scheme equivalent to the FSCS.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
92 of the 94 brokers we rate do not list Singapore among the countries they restrict, and 11 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the Monetary Authority of Singapore (MAS), retail leverage is capped at 1:20 on major currency pairs for retail clients. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside Singapore, and which entity takes your account is decided by where you live rather than by which you would prefer.
Our records do not show local payment rails for brokers accepting clients in Singapore, so expect card payments or an international bank transfer.
That matters for both cost and speed, and it matters in both directions - an international wire out is as slow as one in.