5 Best Forex Brokers in Singapore
We’ve listed the 5 Best Forex Brokers in Singapore that provide secure, transparent, and well-regulated access to global forex and CFD markets under the supervision of the Monetary Authority of Singapore (MAS). MAS-regulated forex brokers operate under strict regulatory standards designed to ensure strong investor protection, operational transparency, and fair trading conditions for both retail and professional traders.
Forex trading in Singapore is governed by the Monetary Authority of Singapore (MAS), one of the most respected financial regulators in Asia, which enforces strict compliance requirements, including client fund segregation, risk disclosures, and robust operational safeguards. MAS-regulated forex brokers typically offer access to a wide range of global markets, including forex pairs, commodities, indices, equities, and cryptocurrencies, supported by advanced trading platforms such as MetaTrader 4, MetaTrader 5, and proprietary systems designed for fast execution, competitive pricing, and a secure trading environment.
5 Best Forex Brokers in Singapore (2025)
- Saxo Bank – Overall, the Best Forex Broker in Singapore.
- IG – MAS-regulated, offering strong investor protection and local compliance.
- OANDA – Popular in Singapore for SGD account support.
- Interactive Brokers – Major Singapore-based global broker.
- Swissquote – Operates in Singapore via a locally regulated entity.
What makes Forex Brokers stand out in Singapore?
The Best Forex Brokers in Singapore stand out due to strict regulation by the Monetary Authority of Singapore (MAS), which ensures strong client fund protection, transparency, and high financial standards. They also differentiate themselves through competitive trading costs, fast execution, and access to global markets under a secure and well-supervised trading environment.
10 Best Forex Brokers – Globally
Pros and Cons of Forex Brokers in Singapore – Key Advantages and Disadvantages
| ✓ Pros | ✕ Cons |
| Strong investor protection under 🇸🇬 MAS framework ensures high transparency and client safety | Lower leverage limits (typically up to 1:20 for retail traders) |
| Client funds held in segregated accounts with licensed institutions | Strict restrictions on bonuses, promotions, and incentives |
| Mandatory risk disclosures and fair trading practices | Fewer high-risk trading features compared to offshore brokers |
| High regulatory oversight ensures reliable execution and pricing | Limited product offerings compared to global offshore brokers |
| Access to globally trusted brokers operating under MAS licence | Less flexibility in leverage and margin trading |
| Strong capital requirements improve broker stability | More detailed onboarding and verification requirements |
MAS-regulated forex brokers operate within one of Asia’s most strict and well-respected financial frameworks, designed to ensure transparency, investor protection, and market integrity in Singapore.
With oversight from the Monetary Authority of Singapore (MAS), traders benefit from segregated client funds, strict compliance standards, and reliable execution practices. However, these protections come with tighter leverage limits, stricter onboarding processes, and reduced promotional incentives compared to offshore or less-regulated jurisdictions.
1. Saxo Bank
Saxo Bank operates in 🇸🇬 Singapore through Saxo Capital Markets Pte Ltd and holds regulation under the Monetary Authority of Singapore (MAS). The broker delivers institutional-grade trading access, strong compliance standards, and global market reach. Traders in Singapore use it for secure, professional multi-asset trading.
| Broker | Saxo Bank |
| Regulation | 🇸🇬 Monetary Authority of Singapore (MAS) |
| Singapore Entity | Saxo Capital Markets Pte Ltd |
| Trader Type | Advanced and institutional traders |
| Market Access | Forex stocks ETFs CFDs bonds |
| Key Strength | Premium multi-asset trading platform |
| Read Review |  |
| Open an Account |  |
 | Minimum Deposit: $0 Regulated by: FSA, FCA Crypto: Yes |
Frequently Asked Questions
Is Saxo Bank regulated and allowed in Singapore?
Saxo Bank operates legally in 🇸🇬 Singapore through its MAS-licensed entity Saxo Capital Markets Pte Ltd. The Monetary Authority of Singapore regulates its activities, enforces strict compliance rules, and ensures client protection. Consequently, traders in Singapore access a fully regulated and globally trusted trading environment.
Does Saxo Bank accept Singapore traders, and what do they get?
Saxo Bank accepts traders in 🇸🇬 Singapore through its local MAS-regulated branch. Clients access forex, stocks, ETFs, and CFDs on advanced platforms. Additionally, they benefit from segregated funds, strong execution quality, and institutional-grade tools designed for serious and professional investors.
| Minimum Deposit: $0 Regulated by: FSA, FCA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| MAS regulated and highly trusted | Higher trading complexity |
| Strong Singapore presence | Not beginner focused |
| Institutional-grade platform | Higher cost structure |
| Wide global market access | Learning curve required |
| Strong execution quality | Limited simplicity for retail users |
Our Insights
Saxo Bank stands as a highly trusted and MAS-regulated broker in 🇸🇬 Singapore. It delivers strong security, global market access, and advanced trading infrastructure. However, it targets experienced traders due to its complexity and higher cost structure, making it less suitable for absolute beginners.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
2. IG
IG operates in 🇸🇬 Singapore through IG Asia and holds a license under the Monetary Authority of Singapore (MAS). The broker provides secure access to global forex and CFD markets, combining strong compliance, advanced trading platforms, and a long-standing industry reputation for retail and professional traders.
| Broker | IG |
| Regulation | 🇸🇬 Monetary Authority of Singapore (MAS) |
| Singapore Entity | IG Asia Pte Ltd |
| Market Access | Forex indices stocks commodities CFDs |
| Platforms | IG platform MT4 ProRealTime TradingView |
| Key Strength | Strong all-round trading ecosystem |
| Read Review | |
| Open an Account | |
 | Minimum Deposit: $250 Regulated by: FCA, ASIC, CFTC, NFA, BaFin Crypto: Yes |
Frequently Asked Questions
Is IG a regulated forex broker in Singapore?
IG operates under a MAS licence in 🇸🇬 Singapore through IG Asia, ensuring full regulatory oversight. The Monetary Authority of Singapore enforces strict financial standards, client fund protection, and transparency rules, making IG a legally approved and highly trusted broker in the Singapore financial market.
Why do traders in Singapore choose IG?
Traders in 🇸🇬 Singapore choose IG because it offers strong MAS regulation, tight spreads, and access to over 17,000 global markets. Additionally, it supports advanced trading platforms, SGD funding, and reliable execution, making it suitable for both beginners and experienced forex traders.
| Minimum Deposit: $250 Regulated by: FCA, ASIC, CFTC, NFA, BaFin Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| MAS regulated and highly trusted | CFD trading risk is high |
| Strong global brand reputation | Platform can feel complex |
| Wide range of markets | Overnight fees apply |
| Advanced trading tools | Not fully beginner focused |
| Tight spreads on major pairs | Limited ownership (CFDs only) |
Our Insights
IG stands as a highly trusted MAS-regulated broker in 🇸🇬 Singapore and delivers strong global market access, advanced tools, and reliable execution. Furthermore, it suits both beginners and experienced traders, although CFD complexity and trading risks require proper understanding before active participation in the markets.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
3. OANDA
OANDA operates in 🇸🇬 Singapore through OANDA Asia Pacific Pte Ltd and holds a Capital Markets Services Licence under the Monetary Authority of Singapore (MAS). The broker delivers regulated forex and CFD trading with strong global oversight, transparent pricing, and accessible platforms for retail and beginner traders.
| Broker | OANDA |
| Regulation | 🇸🇬 Monetary Authority of Singapore (MAS) |
| Singapore Entity | OANDA Asia Pacific Pte Ltd |
| Market Access | Forex indices commodities CFDs |
| Platforms | fxTrade MT4 MT5 |
| Key Strength | Beginner-friendly and no minimum deposit |
| Read Review | |
| Open an Account | |
 | Minimum Deposit: $0 Regulated by: NFA, CFTC Crypto: Via Paxos |
Frequently Asked Questions
Is OANDA regulated and legal in Singapore?
OANDA operates legally in 🇸🇬 Singapore through OANDA Asia Pacific Pte Ltd, which holds a Capital Markets Services Licence from the Monetary Authority of Singapore (MAS). This regulation ensures strict compliance, client fund protection, and transparent trading practices for all Singapore-based traders.
Can Singapore traders open an OANDA account, and what do they get?
OANDA accepts traders in 🇸🇬 Singapore through its MAS-regulated entity. Clients gain access to forex, commodities, indices, and CFDs. Additionally, they benefit from no minimum deposit, segregated funds, and user-friendly platforms designed for beginners and active traders seeking flexible market access.
| Minimum Deposit: $0 Regulated by: NFA, CFTC Crypto: Via Paxos |
Pros and Cons
| ✓ Pros | ✕ Cons |
| MAS regulated and highly trusted | Limited asset range vs banks |
| No minimum deposit required | Not ideal for stock investors |
| Strong global regulatory oversight | Higher spreads in some markets |
| Beginner-friendly platforms | Fewer premium research tools |
| Segregated client funds | Limited advanced trading features |
Our Insights
OANDA stands as a fully MAS-regulated broker in 🇸🇬 Singapore and delivers safe, transparent, and beginner-friendly trading conditions. Furthermore, it offers strong global regulation and simple pricing. However, it focuses mainly on forex and CFDs, making it less suitable for traders seeking broad investment products.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐☆☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Top 3 Forex Brokers in Singapore – Saxo Bank vs IG vs OANDA
| Broker |  |  |  |
| MAS Regulation | MAS licensed (Saxo Capital Markets) | MAS licensed | MAS licensed (OANDA Asia Pacific) |
| Singapore Presence | Strong local HQ and APAC hub | Established local office | Local entity with SGD support |
| Target Trader Type | Professionals and investors | All-round retail traders | Beginners to intermediate |
| Minimum Deposit | $0 (Classic account) | ~$0–$300 depending method | $0 |
| Platform Offering | SaxoTraderGO and PRO | IG platform and MT4 | fxTrade and MT4 |
| Market Access | 70,000+ instruments | 17,000+ markets | Limited vs peers (core assets) |
| Forex Offering | Extensive FX and multi-asset | Strong FX and CFDs | Strong FX focus |
| Pricing Structure | Spread and commissions (tiered) | Spread-based (no commission FX) | Spread-based pricing |
| Ease of Use | Advanced and complex | User-friendly and advanced tools | Very beginner-friendly |
| Research and Tools | Institutional-grade research | Strong education and tools | Data-driven tools |
| Execution Model | Market maker and DMA | Market maker and DMA options | Market maker |
| Local Funding Options | SGD accounts supported | SGD funding supported | SGD accounts supported |
| Best Known For (SG) | Premium multi-asset access | Best all-round broker | Accessibility and simplicity |
| Read Review | | | |
| Open an Account | | | |
4. Interactive Brokers
Interactive Brokers operates in 🇸🇬 Singapore through Interactive Brokers Singapore Pte Ltd and holds regulation under the Monetary Authority of Singapore (MAS). The broker delivers institutional-grade market access, ultra-low costs, and global trading capabilities, serving professional traders, institutions, and advanced investors seeking deep liquidity and execution quality.
| Broker | Interactive Brokers |
| Regulation | 🇸🇬 Monetary Authority of Singapore (MAS) |
| Singapore Entity | Interactive Brokers Singapore Pte Ltd |
| Market Access | Forex stocks ETFs futures bonds CFDs |
| Platforms | Trader Workstation IBKR Mobile Client Portal |
| Key Strength | Ultra-low cost global market access |
| Read Review | |
| Open an Account | |
 | Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No |
Frequently Asked Questions
Is Interactive Brokers regulated and legal in Singapore?
Interactive Brokers operates legally in 🇸🇬 Singapore through its MAS-licensed entity, Interactive Brokers Singapore Pte Ltd. The Monetary Authority of Singapore enforces strict regulatory standards, ensuring strong client protection, transparent operations, and secure access to global financial markets for Singapore-based traders.
Can Singapore traders use Interactive Brokers, and what do they access?
Interactive Brokers accepts traders in 🇸🇬 Singapore through its MAS-regulated branch. Clients gain access to global forex, stocks, ETFs, bonds, futures, and CFDs. Additionally, they benefit from low commissions, deep liquidity, and advanced trading platforms designed for professional and high-volume trading strategies.
| Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No |
Pros and Cons
| ✓ Pros | ✕ Cons |
| MAS regulated and highly trusted | Complex for beginners |
| Extremely low trading costs | Interface not beginner friendly |
| Global multi-asset access | Learning curve required |
| High liquidity execution | Limited simplicity in tools |
| Strong institutional reputation | Overwhelming for casual traders |
Our Insights
Interactive Brokers stands as a highly trusted MAS-regulated broker in 🇸🇬 Singapore and delivers unmatched global market access with institutional-grade execution. Furthermore, it suits professional and active traders due to low costs and advanced tools. However, beginners may find the platform complex and less intuitive.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
5. Swissquote
Swissquote operates in 🇸🇬 Singapore through Swissquote Pte Ltd, which holds a Capital Markets Services Licence under the Monetary Authority of Singapore (MAS). The broker delivers secure multi-asset trading, combining Swiss banking strength with Singapore regulation, institutional custody services, and global market access for professional investors.
| Broker | Swissquote |
| Regulation | 🇸🇬 MAS and 🇨🇭 FINMA |
| Singapore Entity | Swissquote Pte Ltd |
| Market Access | Forex stocks ETFs CFDs crypto |
| Platforms | Advanced multi-asset trading platforms |
| Key Strength | Swiss banking security and global access |
| Read Review | |
| Open an Account | |
 | Minimum Deposit: $1,000 Regulated by: MAS, CSSF Crypto: Yes |
Frequently Asked Questions
Is Swissquote regulated and allowed to operate in Singapore?
Swissquote operates legally in 🇸🇬 Singapore through Swissquote Pte Ltd, which is licensed by the Monetary Authority of Singapore (MAS). The broker also operates under Swiss regulation via FINMA, creating a dual-regulated structure that enhances investor protection, transparency, and financial stability for clients.
Can Singapore traders open accounts with Swissquote, and what do they get?
Swissquote accepts traders in 🇸🇬 Singapore through its MAS-regulated entity. Clients access forex, stocks, ETFs, CFDs, and crypto instruments. Additionally, they benefit from segregated custody, institutional-grade infrastructure, and strong Swiss banking backing, combined with strict Singapore compliance standards.
| Minimum Deposit: $1,000 Regulated by: MAS, CSSF Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| MAS regulated in Singapore | Higher complexity for beginners |
| Strong Swiss banking backing | Higher cost structure |
| Multi-asset global access | Not beginner focused |
| Institutional-grade custody | Platform learning curve |
| Dual regulation (MAS and FINMA) | Limited simplicity for casual traders |
Our Insights
Swissquote stands as a highly trusted MAS-regulated broker in 🇸🇬 Singapore and combines Swiss banking strength with local regulatory compliance. Furthermore, it offers secure multi-asset trading and strong custody services. However, it targets intermediate to advanced investors, making it less ideal for casual beginners.
| # | Criteria | Score |
| 1. | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2. | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3. | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4. | Research and Education | ⭐⭐⭐⭐☆ |
| 5. | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6. | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7. | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8. | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9. | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10. | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5 Best Forex Brokers in Singapore – A Comparison
| Strong Singapore presence via Saxo Capital Markets, serving as its Asia Pacific hub | | |
| One of the most established brokers in Singapore, widely used by retail traders | | |
| Popular in Singapore for beginner-friendly access and SGD account support | | |
 | Major Singapore-based global broker with strong institutional appeal | | |
 | Operates in Singapore via a locally regulated entity (Swissquote Pte Ltd) | | |
The Best Forex Brokers in Singapore – A Quick Overview
The best forex brokers in Singapore are distinguished by their strong regulatory standing under the Monetary Authority of Singapore (MAS), combined with competitive platforms and global market access. Brokers such as Saxo Bank, IG, and OANDA offer a balanced mix of security, usability, and pricing, catering to traders of all experience levels.
Meanwhile, Interactive Brokers appeals to professionals with its low fees and extensive exchange access, while CMC Markets stands out for advanced charting and trading tools. Overall, MAS-regulated brokers provide a highly secure and transparent trading environment, making Singapore one of the most trusted regions globally for forex trading, though with stricter leverage limits and tighter compliance requirements compared to offshore alternatives.
What Real Traders Want to Know About Forex Brokers in Singapore!
Q: Are MAS-regulated forex brokers safe to use?
A: Yes. Brokers regulated by the Monetary Authority of Singapore (MAS) operate under strict financial rules, ensuring high levels of investor protection, transparency, and operational integrity.
Q: What does it mean to trade with a MAS-regulated broker?
A: It means the broker complies with Singapore’s financial regulations, including client fund segregation, risk disclosures, fair execution practices, and ongoing regulatory oversight.
Q: Which are the best forex brokers in Singapore?
A: Well-known MAS-regulated brokers include Saxo Bank, IG, OANDA, Interactive Brokers, and CMC Markets.
Q: What can I trade with Singapore forex brokers?
A: You can typically trade forex, indices, commodities, stocks, and CFDs, depending on the broker and account type.
Q: Do MAS-regulated brokers protect client funds?
A: Yes. Client funds are held in segregated accounts with licensed institutions, and brokers must meet strict capital and compliance requirements under MAS regulations.
Pros and Cons of Forex Brokers in Singapore
| ✓ Pros | ✕ Cons |
| Strong MAS regulation and investor protection | Lower leverage limits (around 1:20 retail) |
| Client funds held in segregated accounts | Strict onboarding and verification process |
| High trust and global broker reputation | Limited promotional bonuses and incentives |
| Access to global markets and multi-asset trading | Fewer high-risk trading features allowed |
| Reliable execution and transparent pricing | Less flexibility vs offshore brokers |
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In Conclusion
Forex trading in Singapore is dominated by highly trusted, MAS-regulated brokers that prioritize transparency, investor protection, and execution quality. Brokers such as Saxo Bank, IG, OANDA, Interactive Brokers, and CMC Markets stand out for their strong platforms and global market access. While traders benefit from a safe and well-regulated environment, they also face stricter leverage limits and fewer promotional incentives compared to offshore brokers. Overall, Singapore remains one of the most secure and professional forex trading hubs in the world.
Yes. Most operate under the Monetary Authority of Singapore (MAS), a top-tier regulator.
Yes. Forex trading is fully legal through licensed brokers.
No. Retail leverage is typically limited to around 1:20 under MAS rules.
No. Many brokers allow accounts with low or no minimum deposit.
Forex, indices, commodities, stocks, and CFDs, depending on the broker.
Yes. Funds are kept in segregated accounts with strict safeguards.
Interactive Brokers and Saxo Bank are preferred by advanced traders.
They offer high trust, strong regulation, and secure trading conditions
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