Singapore Forex Brokers
We have reviewed numerous forex brokers in Singapore, there are the top 5 brokers which have met our quality guidelines and accept residents of Singapore. We recommend the following:
XM was founded in 2009 and is our our first recommendation for Singapore residents. Within the period that has passed, they have managed to become one of the most instantly recognizable names in forex trading and they are also our top ranked global forex brokerage. This is not only due to their excellent regulatory compliance worldwide, they are regulated by both CySEC, and ASIC, as well as two other top-tier regulators.
The broker caters for the needs of the forex market in more than 196 countries. This makes them one of the most global brokers in the industry to all levels of trader. Couple this with an exceptional education section, and a great variety of assets to trade in, and you have a winning combination with XM.
AvaTrade is a top choice for Singapore residents, While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector.
A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced Singapore traders.
The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.
Read our Detailed AvaTrade Review
CityIndex is Regulated by the Monetary Authority of Singapore (MAS) which sets them apart.
City Index is a trading name of GAIN Capital Singapore Pte Ltd. They have offices at 168 Robinson Road, Capital Tower #20-01, Singapore 068912.
The brand name of GAIN Capital who are known in financial circles around the world, and are also listed on the New York Stock Exchange. In terms of the broker standing in the sector, City Index are one of the cornerstone names in the entire industry, having been around since 1983.
With such a long track record, it is no surprise then that City Index have become a go to destination for many experienced traders from Singapore seeking an operation that is as safe as they come, with regulation in the form of several top-tier bodies.
Still the broker continues to evolve and presents an equally excellent place for newer traders to grow in the industry thanks to a very competitive, low-fee environment with a top selection of asset to choose from.
All trading involves risk and losses can exceed deposits.
Read Our Detailed CityIndex Review
BD Swiss founded in 2012. Since that time they have grown to become a major forex broker who now offer trading services in more than 180 countries including Singapore. They are also have regulatory oversight in place from a number of trusted bodies in the industry. BDSwiss LLC is authorised and registered with the U.S. National Futures Association NFA ID: 0486419, other regulatory bodies they abide by include CySEC.
BDSwiss is also a very well-decorated broker having collected a number of awards particularly in recent years as they have expanded their industry presence. Being recognized as providing one of the best trading platform applications, as well as for their positive trading conditions and environment has helped them greatly in continuing to improve their profile among traders.
Read Our Detailed BDSwiss Review
FXTM was founded in 2011 in Europe. They are currently headquartered in Cyprus but offer services in forex trading and many other assets to traders around the world including all parts of Singapore. They have fast become one of the top forex brokers in the entire sector.
The FXTM minimum deposit starts from just $10 depending on your account type. This means trading is high accessible through FXTM for all level of trader. Added to this, they are an extremely well-regulated broker with the support of multiple respected bodies including CySEC in Europe, and the FCA in the UK.
This trusted regulation, a competitive range of trading costs, and the availability of more than 250 assets to trade, continue to make FXTM a popular choice for Singaporeans.
What is MAS?
This stands for: Monetary Authority of Singapore (MAS)
This is an independent Singapore government body, it’s Singapore’s central bank and financial regulatory authority. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance.
What are the requirements for MAS Brokers?
One of the requirements to be licensed by MAS, is that business funds are kept completely segregated from client funds. This is to ensure client funds are safe and not used for business expenses, dividends, or other payments.
Another requirement is that the broker only employs staff that is properly qualified to operate in money markets. Each broker must provide a full list of employees in combination with their qualifications before a business can become operational.
Similar to other money authorities around the globe, brokers in Singapore must provide evidence of a complete breakdown of business transactions, auditing and accounting.
Can I contact customer support?
We recommend forex broker in Singapore that offer 24/7 or 24/5 support to all of Singapore. In most cases you may phone, email, or use live chat.
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2020-07-31 22:14:05Z
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