Best Forex Brokers Singapore

Adam Rosen - Lead financial writer

Updated 15-Mar-2024

Singapore Forex Brokers

Singapore Forex brokers have seen huge growth over the last 2 years. Singaporeans traders have been attracted to Forex markets and Singapore Forex trading platforms.

Singapore Forex trading has always been popular but the advent of modern internet driven Singapore Forex trading platforms and Singapore Forex trading apps that work on mobile phones and tablet devices. Never before have Singapore Forex traders found trading global Forex markets more accessible.

The largest Singapore Forex brokers accept clients from several countries and provide Singaporeans Forex traders with trading access to worldwide financial markets not just Forex.

Best Forex Brokers Singapore Table Of Contents

  • IC Markets Forex Broker Singapore

    Visit IC Markets

    🀴 IC Markets is Used By: 180,000
    ⚑ IC Markets is Regulated by: Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)

    πŸ’΅ What You Can Trade with IC Markets: Forex, Majors, Energies, Metals, Agriculturals,
    πŸ’΅ Instruments Available with IC Markets: 232

    πŸ“ˆ IC Markets Inactivity Fees: No
    πŸ’° IC Markets Withdrawal Fees: No
    πŸ’° IC Markets Payment Methods: Credit Cards, VISA, MasterCard, Debit Cards, Visa, MasterCard, Bank Transfer, PayPal, Neteller, Neteller VIP, Skrill, Poli, Cheque, BPAY, UnionPay, FasaPay, QIWI, RapidPay, Klarna, Electronic wallets (eWallets), Broker to Brokers, Thai Internet Banking, Vietnamese Internet Banking,

    IC Markets Risk warning : Losses can exceed deposits

  • Roboforex Forex Broker Singapore

    Visit Roboforex

    🀴 Roboforex is Used By: 10,000
    ⚑ Roboforex is Regulated by: Financial Services Commission (FSC) License 000138/437

    πŸ’΅ What You Can Trade with Roboforex: Forex, Minors, Majors, Exotics, Indices, Metals,
    πŸ’΅ Instruments Available with Roboforex: 100

    πŸ“ˆ Roboforex Inactivity Fees: No
    πŸ’° Roboforex Withdrawal Fees: Yes
    πŸ’° Roboforex Payment Methods: Credit cards, VISA, MasterCard, JCB, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Perfect Money, AdvCash, BPAY, China UnionPay, FasaPay, CashU, WeChat Pay, ecoPayZ, AstroPay, Sofort, Giropay, Poli, Wepay, iDEAL, Payoneer,

    Roboforex Risk warning : Losses can exceed deposits

  • FP Markets Forex Broker Singapore

    Visit FP Markets

    🀴 FP Markets is Used By: 10,000
    ⚑ FP Markets is Regulated by: Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Financial Services Authority (St. Vincent and the Grenadines)

    πŸ’΅ What You Can Trade with FP Markets: Forex, Minors, Majors, Exotics, Indices, Metals,
    πŸ’΅ Instruments Available with FP Markets: 100

    πŸ“ˆ FP Markets Inactivity Fees: No
    πŸ’° FP Markets Withdrawal Fees: No
    πŸ’° FP Markets Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, BPAY, POLi, PayPal, Neteller, Skrill, PayTrust, NganLuong VN, Fasapay, Broker to Broker, OnlinePay China, Directa24, Klarna, PayTrust88, Payoneer,

    FP Markets Risk warning : Losses can exceed deposits

  • NordFX Forex Broker Singapore

    Visit NordFX

    🀴 NordFX is Used By: 10,000
    ⚑ NordFX is Regulated by: Cyprus Securities and Exchange Commission (CySEC), License No: 209/13

    πŸ’΅ What You Can Trade with NordFX: Forex, Majors, Metals,
    πŸ’΅ Instruments Available with NordFX: 50

    πŸ“ˆ NordFX Inactivity Fees: No
    πŸ’° NordFX Withdrawal Fees: No
    πŸ’° NordFX Payment Methods: Bank Transfer, Neteller, PerfectMoney, WebMoney, FasaPay, CashU, Payza, QIWI,

    NordFX Risk warning : Losses can exceed deposits

  • XTB Forex Broker Singapore

    Visit XTB

    🀴 XTB is Used By: 250,000
    ⚑ XTB is Regulated by: Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comision Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa

    πŸ’΅ What You Can Trade with XTB: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Pennystocks, Energies, Metals, Agriculturals, ETFs,
    πŸ’΅ Instruments Available with XTB: 4000

    πŸ“ˆ XTB Inactivity Fees: Yes
    πŸ’° XTB Withdrawal Fees: No
    πŸ’° XTB Payment Methods: Credit cards, MasterCard, Maestro, Visa, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, Skrill, Poli, Paysafe, Payoneer,

    XTB Risk warning : 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • Pepperstone Forex Broker Singapore

    Visit Pepperstone

    🀴 Pepperstone is Used By: 89,000
    ⚑ Pepperstone is Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217

    πŸ’΅ What You Can Trade with Pepperstone: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals,
    πŸ’΅ Instruments Available with Pepperstone: 100

    πŸ“ˆ Pepperstone Inactivity Fees: Yes
    πŸ’° Pepperstone Withdrawal Fees: No
    πŸ’° Pepperstone Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, BPAY, POLi, UnionPay, FasaPay, QIWI, Payoneer,

    Pepperstone Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

  • XM Forex Broker Singapore

    Visit XM

    🀴 XM is Used By: 10,000,000
    ⚑ XM is Regulated by: Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)

    πŸ’΅ What You Can Trade with XM: Forex, Stock CFDs, Commodity CFDs, Minors, Majors, Exotics, Equity Indices CFD, Energies CFD, Precious Metals
    πŸ’΅ Instruments Available with XM: 1000

    πŸ“ˆ XM Inactivity Fees: Yes
    πŸ’° XM Withdrawal Fees: No
    πŸ’° XM Payment Methods: Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Moneta, ABAQOOS, PRZELEWY24, Neteller, PerfectMoney, WebMoney, UnionPay, FasaPay, CashU, Payza, QIWI, SOFORT, Giropay, Payoneer, Skrill,

    XM Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • FXPrimus Forex Broker Singapore

    Visit FXPrimus

    🀴 FXPrimus is Used By: 10,000
    ⚑ FXPrimus is Regulated by: Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Vanuatu Financial Services Commission (VFSC)

    πŸ’΅ What You Can Trade with FXPrimus: Forex, Minors, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals,
    πŸ’΅ Instruments Available with FXPrimus: 130

    πŸ“ˆ FXPrimus Inactivity Fees: No
    πŸ’° FXPrimus Withdrawal Fees: Varies
    πŸ’° FXPrimus Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Payoneer, SafeCharge, TrustPay, EmerchantPay, Bitcoin, UnionPay, FasaPay, Giropay,

    FXPrimus Risk warning : Losses can exceed deposits

  • easyMarkets Forex Broker Singapore

    Visit easyMarkets

    🀴 easyMarkets is Used By: 142,500
    ⚑ easyMarkets is Regulated by: Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)

    πŸ’΅ What You Can Trade with easyMarkets: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals, Agriculturals, Options,
    πŸ’΅ Instruments Available with easyMarkets: 200

    πŸ“ˆ easyMarkets Inactivity Fees: No
    πŸ’° easyMarkets Withdrawal Fees: No
    πŸ’° easyMarkets Payment Methods: Credit cards, MasterCard, Maestro, American Express, JCB, Astropay, Debit cards, Bank Transfer, SOFORT, GiroPay, iDeal, Bpay, Electronic wallets (eWallets), Skrill, Neteller, WebMoney, UnionPay, WeChatPay, FasaPay, STICPAY,

    easyMarkets Risk warning : Your capital is at risk

  • Trading 212 Forex Broker Singapore

    Visit Trading 212

    🀴 Trading 212 is Used By: 15,000,000
    ⚑ Trading 212 is Regulated by: Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)

    πŸ’΅ What You Can Trade with Trading 212: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, ETFs, Bonds,
    πŸ’΅ Instruments Available with Trading 212: 10000

    πŸ“ˆ Trading 212 Inactivity Fees: No
    πŸ’° Trading 212 Withdrawal Fees: No
    πŸ’° Trading 212 Payment Methods: Credit cards, MasterCard, VISA, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Skrill, Dotpay, Carte Bleue, Direct eBanking, Apple Pay, Google Pay, iDeal, Giropay,

    Trading 212 Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • SpreadEx Forex Broker Singapore

    Visit SpreadEx

    🀴 SpreadEx is Used By: 10,000
    ⚑ SpreadEx is Regulated by: Financial Conduct Authority (FCA)

    πŸ’΅ What You Can Trade with SpreadEx: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Pennystocks, Energies, Metals, Agriculturals, ETFs, IPO, Bonds, Options, Treasuries,
    πŸ’΅ Instruments Available with SpreadEx: 15000

    πŸ“ˆ SpreadEx Inactivity Fees: No
    πŸ’° SpreadEx Withdrawal Fees: 0, minimum £50
    πŸ’° SpreadEx Payment Methods: Credit cards, VISA, Switch, Maestro, Debit cards, Bank Transfer, Payoneer,

    SpreadEx Risk warning : Losses can exceed deposits

  • HYCM Forex Broker Singapore

    Visit HYCM

    🀴 HYCM is Used By: 10,000
    ⚑ HYCM is Regulated by: Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048

    πŸ’΅ What You Can Trade with HYCM: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, Energies, Metals, Agriculturals,
    πŸ’΅ Instruments Available with HYCM: 100

    πŸ“ˆ HYCM Inactivity Fees: Yes
    πŸ’° HYCM Withdrawal Fees: No
    πŸ’° HYCM Payment Methods: Credit cards, Debit cards, Bank Transfer, PayPal, WebMoney, Payoneer,

    HYCM Risk warning : Losses can exceed deposits

  • Axi Forex Broker Singapore

    Visit Axi

    🀴 Axi is Used By: 10,000
    ⚑ Axi is Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA), Financial Service Authority of St. Vincent and the Grenadines (FSA)

    πŸ’΅ What You Can Trade with Axi: Forex, Minors, Cryptocurrencies, Majors, Exotics,
    πŸ’΅ Instruments Available with Axi: 100

    πŸ“ˆ Axi Inactivity Fees: No
    πŸ’° Axi Withdrawal Fees: No
    πŸ’° Axi Payment Methods: Credit cards, Debit cards, Bank Transfer, Neteller, BPAY, UnionPay, Payoneer,

    Axi Risk warning : Losses can exceed deposits

  • Swissquote Forex Broker Singapore

    Visit Swissquote

    🀴 Swissquote is Used By: 300,000
    ⚑ Swissquote is Regulated by: Swiss Financial Market Supervisory Authority (FINMA), Commission de Surveillance du Secteur Financier (CSSF), Financial Conduct Authority, Dubai Financial Services Authority (DFSA), Hong Kong Securities and Futures Commission (SFC), Monetary Authority of Singapore (MAS)

    πŸ’΅ What You Can Trade with Swissquote: Forex, Minors, Majors, Exotics, Indices, UK Stocks, US Stocks, Pennystocks, Energies, Metals, Bonds,
    πŸ’΅ Instruments Available with Swissquote: 100

    πŸ“ˆ Swissquote Inactivity Fees: No
    πŸ’° Swissquote Withdrawal Fees: $10
    πŸ’° Swissquote Payment Methods: Credit cards, Debit cards, Bank Transfer, Payoneer,

    Swissquote Risk warning : Losses can exceed deposits

  • ThinkMarkets Forex Broker Singapore

    Visit ThinkMarkets

    🀴 ThinkMarkets is Used By: 500,000
    ⚑ ThinkMarkets is Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Financial Sector Conduct Authority (FSCA), Financial Services Authority Seychelles (FSA), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority FRN 629628, TF Global Markets (AUST) Limited is the holder of Australian Financial Services License number 424700, TF Global Markets (South Africa)(Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835),TF Global Markets Int Limited Is authorised and regulated by the Financial Services Authority Firm Reference Number SD060

    πŸ’΅ What You Can Trade with ThinkMarkets: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals,
    πŸ’΅ Instruments Available with ThinkMarkets: 1500

    πŸ“ˆ ThinkMarkets Inactivity Fees: Yes
    πŸ’° ThinkMarkets Withdrawal Fees: No
    πŸ’° ThinkMarkets Payment Methods: Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, BitPay,

    ThinkMarkets Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

  • ForTrade Forex Broker Singapore

    Visit ForTrade

    🀴 ForTrade is Used By: 1,000,000
    ⚑ ForTrade is Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), National Bank of the Republic of Belarus (NBRB)

    πŸ’΅ What You Can Trade with ForTrade: Forex, Minors, Cryptocurrencies, Majors, Exotics, Bonds,
    πŸ’΅ Instruments Available with ForTrade: 100

    πŸ“ˆ ForTrade Inactivity Fees:
    πŸ’° ForTrade Withdrawal Fees: No
    πŸ’° ForTrade Payment Methods: Credit cards, Debit cards, Bank Transfer, PayPal, Neteller, Payoneer,

    ForTrade Risk warning : Your capital is at risk

  • Eightcap Forex Broker Singapore

    Visit Eightcap

    🀴 Eightcap is Used By: 10,000
    ⚑ Eightcap is Regulated by: Australian Securities and Investments Commission (ASIC), Vanuatu Financial Services Commission (VFSC)

    πŸ’΅ What You Can Trade with Eightcap: Forex, Minors, Majors, Exotics, Indices, Energies, Metals,
    πŸ’΅ Instruments Available with Eightcap: 100

    πŸ“ˆ Eightcap Inactivity Fees: No
    πŸ’° Eightcap Withdrawal Fees: Yes
    πŸ’° Eightcap Payment Methods: Credit cards, Debit cards, Bank Transfer, POLi, UnionPay, Payoneer,

    Eightcap Risk warning : Losses can exceed deposits

  • ForexMart Forex Broker Singapore

    Visit ForexMart

    🀴 ForexMart is Used By: 10,000
    ⚑ ForexMart is Regulated by: Cyprus Securities and Exchange Commission (CySEC)

    πŸ’΅ What You Can Trade with ForexMart: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, ETFs, Bonds,
    πŸ’΅ Instruments Available with ForexMart: 111

    πŸ“ˆ ForexMart Inactivity Fees: No
    πŸ’° ForexMart Withdrawal Fees: 5
    πŸ’° ForexMart Payment Methods: Bank Transfer, Visa, MasterCard, Skrill, Neteller, PayCo, fasaPay, Qiwi, Union Pay, AliPay,

    ForexMart Risk warning : Your capital is at risk

  • FxPro Forex Broker Singapore

    Visit FxPro

    🀴 FxPro is Used By: 1,866,000
    ⚑ FxPro is Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB)

    πŸ’΅ What You Can Trade with FxPro: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, Agriculturals,
    πŸ’΅ Instruments Available with FxPro: 430

    πŸ“ˆ FxPro Inactivity Fees: Yes
    πŸ’° FxPro Withdrawal Fees: No
    πŸ’° FxPro Payment Methods: Bank, Wire Transfers, Credit cards, Debit Cards, Visa, Maestro, MasterCard, American Express, eWallets, PayPal, Skrill, Neteller, UnionPay

    FxPro Risk warning : 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider

  • Phoenix Markets Forex Broker Singapore

    Visit Phoenix Markets

    🀴 Phoenix Markets is Used By: 10,000
    ⚑ Phoenix Markets is Regulated by: Cyprus Securities and Exchange Commission (CySEC)

    πŸ’΅ What You Can Trade with Phoenix Markets: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, ETFs, Bonds,
    πŸ’΅ Instruments Available with Phoenix Markets: 97

    πŸ“ˆ Phoenix Markets Inactivity Fees:
    πŸ’° Phoenix Markets Withdrawal Fees: varies
    πŸ’° Phoenix Markets Payment Methods: Credit cards, Skrill, Neteller, Bank Transfer,

    Phoenix Markets Risk warning : Your capital is at risk

What Is a Singapore Forex Broker?

Forex brokers are companies that act as the middleman between you, the individual or business wanting to trade currencies, and the various Forex exchanges around the world. Forex brokers provide a platform for individuals and businesses to trade Forex currencies with other people in different countries at any time of day.

Some Singapore Forex brokers are subsidiaries of larger financial organisations that offer stocks, commodities, cryptocurrencies, CFD trading as well as Forex trading to Singaporeans traders. Others Singapore Forex brokers are small companies or individuals who specialise in foreign exchange trading for Singaporeans residents.

Available Currency Pairs For Singapore Forex Traders

Major currency pairings are covered by most Singapore Forex brokers, while minor and exotic currency pairs are not always available on all Singapore Forex trading platforms. If you want greater access to the global Forex markets make sure your Singapore Forex broker offers a wide range of major, minor and exotic currency pairs to trade.

Major Currency Pairs on Singapore Forex Trading Platforms

Major Currency pairs represent the largest or most liquid markets in the world. Major currency pairs and are traded by Singapore and international banks, fund managers, retail Forex traders and professional Forex investors. The major currency pairs include EUR/USD, GBP/USD, AUD/USD, NZD/USD.

Major Forex Currency pairs On Singapore Trading Platforms
British pound/US dollarGBP/USD
Euro/US dollarEUR/USD
US dollar/Japanese yenUSD/JPY
US dollar/Swiss francUSD/CHF
US dollar/Canadian dollarUSD/CAD
Australian dollar/US dollarAUD/USD
New Zealand dollar/US dollarNZD/USD

Minor Currency Pairs on Singapore Forex Trading Platforms

Minor pairs are those that do not contain the US Dollar. Cross-currency pairs are another name for them.

Minor Forex Currency pairs On Singapore Trading Platforms
Euro / British poundEUR/GBP
Euro / SwitzerlandEUR/CHF
Euro / Canadian DollarEUR/CAD
Euro / Australian dollarEUR/AUD
Euro / New ZealandEUR/NZD
Euro / JapaneseEUR/JPY
British pound / SwitzerlandGBP/CHF
British pound / Japanese yenGBP/JPY
British pound / AustraliaGBP/AUD
British pound / Canadian DollarGBP/CAD
British pound / New ZealandGBP/NZD
Swiss franc / Japanese yenCHF/JPY
New Zealand dollar / Japanese yenNZD/JPY
Australia / Japanese yenAUD/JPY
Canadian Dollar / Japanese yenCAD/JPY

Exotic Currency Pairs on Singapore Forex Trading Platforms

Exotic currency pairs comprise all other combinations that do not fall under any other category such as cross or exotic pair. In general, these are low-volume markets due to less popularity amongst traders because of their relative obscurity. However, they provide exciting opportunities for high returns which can't be achieved otherwise by trading in major pairs like EUR/JPY or USD/CHF etc. Some examples of these are DKKUSD (Danish Krone against US Dollar) or BWPUSD (Botswana Pula against US dollar).

Exotic Currency pairs On Singapore Forex Trading Platforms
British pound / South African randGBP/ZAR
Japanese yen / Norwegian kroneJPY/NOK
New Zealand dollar / Singapore dollarNZD/SGD
United States Dollar / Hong Kong dollarUSD/HKD
Australian dollar / Mexican pesoAUD/MXN
United States Dollar / Hong KongUSD/HKD
United States Dollar / SingaporeUSD/SGD
United States Dollar / MexicoUSD/MXN
United States Dollar / DenmarkUSD/DKK
United States Dollar / SwedenUSD/SEK
United States Dollar / South AfricaUSD/ZAR
United States Dollar / ThailandUSD/THB
Euro / Turkish liraEUR/TRY

Opening a Singapore Forex Trading Account

  • Choose a Singapore Forex broker that suits your needs and Forex trading strategy. Research your options to find the online provider that offers all the features you want at an affordable price.
  • Register with your Singapore Forex Broker and verify your account.
  • Fund your Singapore Forex Trading Account
  • Research Forex currency pairs on your Singapore Forex trading platform.
  • Place a buy or sell order with your prefered Singapore Forex broker.

Singapore Forex Brokers Leverage

Many modern Singapore Forex brokers offer Singaporeans traders leveraged Forex trading using Forex CFDs. Before considering Forex leveraged trades make sure you fully understand what you are doing. Forex CFD trading is considered very high risk.

Singapore Leveraged Forex trading, allows Singaporeans traders to borrow money from a Singapore Forex broker in order to trade at greater exposure to the financial markets then their deposited amount. Clearly understand that you are not trading really currency assets with your Singapore Forex broker. A Forex CFD trade is purely a speculative trade on the up or down price movements of a specific currency pair, with your chosen Singapore Forex broker.

Some Singapore Forex brokers offer leverage of 1:5 to 1:500. A leverage of 1:5 from a Singapore Forex broker allows a Singapore trader to trade 5 times the margin amount. This is of course high risk and should only be used by experienced traders. If your Singapore Forex account goes negative you may lose more than you deposited amount.

How Singapore Forex Brokers Make Money

Singapore Forex Brokers earn money by charging fees and commissions to Singapore Forex traders for every buy / sell action performed on their Singapore Forex trading platforms. Other Singapore Forex brokers make money by marking up the prices of currency assets Singapore Forex traders can trade.

Singapore Forex Spreads

Spread, or the difference between the buying and selling price of a currency pair, is how most Singapore Forex brokers generate money. Forex spreads are measured in pips.

Singapore Variable Spread Forex Brokers

Variable spreads simply pass on the best bid and offer prices available at the time, with the amount of variability varying depending on the item traded and the Singapore Forex broker utilised. Variable spreads are frequently less expensive than fixed spreads, particularly during periods of high liquidity.

Singapore Fixed Spread Forex Brokers

Fixed spreads, unlike variable spreads, are determined by the Singapore Forex broker and remain constant regardless of market conditions or volatility. You pay the spread that is given to you by your Singapore Forex broker.

Forex Broker Education Singapore

What ever level of trader you are always check what educational resources your Singapore Forex broker offers. Many of the larger more established Singapore Forex brokers offer guides, podcasts, webinars, online videos and courses to their registered Singapore traders.

Singapore Forex traders must understand, trading the international currency markets is not easy. The Singapore and global currency markets can be volatile. Trading education helps Singapore Forex traders limit and mitigate risk, understand Singapore and global market trends to spot opportunities to buy and sell your currency pairs.

Regulation of Singapore Forex Brokers

It is of up most importance that you only trade with well regulated Singapore Forex brokers.

Singapore Forex financial market authorities and financial regulators establish very strict rules that Singapore Forex brokers must follow in order to be able to legally offer their Singapore Forex broker services to Singaporeans Forex traders. These rules safeguard Singaporeans investors and keep everything in above board, making Singapore Forex trading safer.

Singapore Forex brokers records and general affairs are scrutinised by financial regulators to verify that they adhere to all financial and ethical standards.

Verifying a Singapore Forex Brokers Regulation

When shortlisting Singapore Forex brokers you must verify that your Singapore Forex broker is regulated and licensed to offer Forex trading services to Singaporeans Forex traders. Singapore Forex trading license verification can be found on the financial regulators website. You should see a regulator license number that you can check on the main financial regulators website.

A Singapore Forex broker that holds regulation with Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) is good.

Singapore Forex Broker Advantages

  • Forex is the worlds largest global market by volume.
  • Singaporeans traders are able to trade various global Forex markets 24 hours a day.
  • Modern Singapore Forex broker trading platforms have low transaction costs.
  • Singapore Forex brokers offer trading currency pairs using leveraged trading. Please note trading using leverage is very high risk.
  • The Global and Singapore Forex market has many trading making the Forex markets have high liquidity. With higher liquidity it is easier to buy and sell currency pairs.
  • The Singapore and global Forex markets have high volatility which suits a higher risk day trading strategy.
  • Singapore Forex brokers offer a wide range of global currency pairs to trade.

Singapore Forex Broker Risks

  • As Singapore and global Forex markets are open 24 hours a day, so is your exposure to risk, if you have an open position.
  • Singapore Forex Markets can have low volatility at times. If the markets have little movement and you have leveraged currency positions your trades may be at risk.
  • Singapore Forex traders can face high risks when over leveraging currency pair trades. If a leveraged trade does not go in your favour you may lose more than your deposited amount.
  • Singapore Forex traders are also at risk from highly volatile Forex markets. It is essential to set stop loss and limit orders to reduce loss from wide sudden price movements.

What Are Singapore Forex Broker Scams?

Singapore Forex scams are committed by unregulated often remotely offshore companies who offer get rich schemes to Singapore Forex traders, automated Forex get rich programs, Singapore Forex signal sellers. They take advantage of inexperienced Singaporeans Forex traders who do not know how the financial markets work by offering them unrealistic gains, or by making Singapore Forex trading seem easy if you use their service or tools.

Singapore Forex trading is very complicated and it takes time to learn how to use the Forex technical analysis tools and monitor Forex trends on global markets.

Singapore Forex scams occur when a broker offers unrealistic returns on investments or intentionally manipulates prices in order to make trades seem more profitable than they actually are. The best way to avoid being scammed is to understand how Singapore Forex trading works and avoid things that sound too good to be true. Only sign up with a Singapore Forex broker is regulated by a major European financial regulator, like the FCA, or CySEC.


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