Best Forex Brokers in Singapore for 2026

Company	Accepts SG Residents	Regulated by MAS	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
IG	check	check		£1	0.91 info

Why IG stands out: IG operates locally through IG Asia Pte Ltd, which holds a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (registration 200510021K, issued in 2005). That makes IG one of the longest-running MAS-licensed forex providers in the country, and its parent firm, founded in 1974 and publicly traded on the London Stock Exchange, remains one of the largest retail forex brokers globally.

Trust and regulation: Singaporean clients trade under MAS oversight, including the 1:20 retail leverage cap on major forex pairs and strict client money segregation rules under the Securities and Futures Act. IG also gives Singapore traders the option to qualify as Accredited Investors, which lifts the leverage cap to 1:50 for those who meet MAS's wealth and income thresholds. Globally, IG holds licenses across 11 Tier-1 jurisdictions.

Platforms: IG's proprietary web and mobile platforms cover the basics well while still offering depth for active traders, integrated charting, market sentiment data, customizable watchlists, and Reuters news. MetaTrader 4 is supported for traders who prefer the industry standard, alongside ProRealTime for advanced charting. The IG Trading app won our 2026 Annual Award for #1 Mobile App.

A typical course on IG Academy, detailing the basics of technical analysis with an overview of basic chart patterns.

Pricing: Spreads on EUR/USD start from around 0.6 pips on the standard account, with minimum deposit requirements that vary based on funding method. SGD-denominated accounts are supported for local funding, and IG provides full English-language coverage across its Singapore-focused platforms and educational content.

Steven's take:

"IG's MAS-licensed Singapore entity gives traders local oversight along with one of the deepest product lineups in retail forex. The optional accredited investor pathway is a real differentiator for higher-net-worth Singapore traders."

Steven Hatzakis
Director of Online Broker Research

Company	Accepts SG Residents	Regulated by MAS	Overall Rating	Average spread (EUR/USD) - Standard account	Minimum Deposit
Interactive Brokers	check	check		0.226 info	$0

Why Interactive Brokers stands out: Interactive Brokers (IBKR) is a strong fit for Singapore traders who want one account that reaches across global markets with local MAS oversight. The broker operates through Interactive Brokers Singapore Pte Ltd, which holds a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (CMS100917). That makes IBKR one of the few global brokers with a direct MAS license, paired with the multi-asset reach the firm is known for.

Trust and regulation: Singaporean retail clients trade under MAS oversight, including the 1:20 leverage cap on major forex pairs and strict client money segregation rules under the Securities and Futures Act. Accredited Investors who meet MAS's wealth or income thresholds can access higher leverage limits. Globally, IBKR holds Tier-1 licenses across nine jurisdictions and maintains a Trust Score of 99, with publicly traded financials on NASDAQ adding another layer of transparency that's hard to match in retail forex.

Platforms: Trader Workstation (TWS) is the headline platform, with programmable order types, algorithmic strategies, and a customizable workspace built for active and professional traders. IBKR Mobile and the newer IBKR Desktop provide cleaner interfaces for traders who prefer less complexity, while the Client Portal handles account management cleanly through the browser. Singapore traders also get access to TradingView and MetaTrader integrations through third-party bridging.

Unlike standalone broker platforms that separate charting from research, TradingView integrates technical analysis, multi-asset monitoring, and fundamental data in a single view, making it popular with active traders who want third-party charting depth with direct broker execution.

Pricing: EUR/USD spreads sit around 0.2 pips plus a low commission, with tiered pricing rewarding higher monthly volumes. There's no minimum deposit, though the per-trade minimum commission means IBKR is most cost-effective at standard lot sizes or larger. Singapore traders can also fund SGD-denominated accounts and access SGX-listed shares, U.S. equities, options, and futures within a single multi-currency setup.

Company	Accepts SG Residents	Regulated by MAS	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
Saxo	check	check		$0	1.0 info

Why Saxo stands out: Saxo brings bank-backed infrastructure paired with a deep product lineup. The broker operates locally through Saxo Capital Markets Pte Ltd, which holds a Capital Markets Services (CMS) license from MAS and has been serving Singapore clients since 2006. For traders who want access to forex alongside global equities, options, and bonds through a single account, Saxo's product range is hard to match.

Trust and regulation: Singapore retail clients trade under MAS oversight, including the 1:20 retail leverage cap on major forex pairs, segregated client funds, and the broader investor protections built into the Securities and Futures Act. Saxo Bank Group, the Copenhagen-based parent, is A- rated by S&P and classified as a Systemically Important Financial Institution (SIFI) in Denmark, which puts the firm under banking-grade capital and liquidity requirements that most retail brokers don't face. Globally, Saxo is licensed across seven Tier-1 jurisdictions.

Platforms: Saxo's proprietary SaxoTraderGO web platform and the more advanced SaxoTraderPRO desktop platform deliver one of the best forex trading experiences available in Singapore. Both are built around clean design, sophisticated charting, integrated research from Saxo's in-house strategy team, and seamless cross-device syncing. Saxo's platforms earned our 2026 Annual Award for #1 Platforms & Tools.

The SaxoTraderGO mobile app showcases a powerful, highly customizable screener tool within the main Trading tab. Here, a custom filter for forex and precious metals is applied and sorted by the "Last three month's popularity," offering traders a clean, real-time overview of live pricing and daily percentage changes for heavily traded assets like Gold (XAU/USD), USD/JPY, and EUR/USD.

Pricing: Saxo's tiered pricing rewards higher monthly volumes, with EUR/USD spreads averaging around 0.6 pips on the Classic account, falling to 0.4 pips on Platinum and 0.2 pips on VIP. Traders get access to over 70,000 instruments across forex, equities, ETFs, options, futures, and bonds, with SGD-denominated funding supported through local bank transfers and PayNow.

Company	Accepts SG Residents	Regulated by MAS	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
FOREX.com	check	check		$100	1.00 info

Why FOREX.com stands out: FOREX.com is best suited for Singapore traders who want a globally established broker paired with full MAS oversight. The broker operates locally through StoneX Financial Pte Ltd, which holds a Capital Markets Services license from MAS and has been serving Singapore clients since 2011. Parent company StoneX Group is publicly traded on NASDAQ (SNEX) with a Fortune 500 ranking.

Company	Accepts SG Residents	Regulated by MAS	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
CMC Markets	check	check		$0	1.3 info

Why CMC Markets stands out: CMC Markets is best suited for Singapore traders who want a feature-dense proprietary platform paired with local MAS regulation. The broker operates through CMC Markets Singapore Pte Ltd (UEN 200605050E), which holds a Capital Markets Services license from MAS for dealing in securities and leveraged foreign exchange. Founded in 1989 and publicly traded on the London Stock Exchange (LSE: CMCX), CMC also operates as an exempt financial adviser in Singapore.

Company	Accepts SG Residents	Regulated by MAS	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
Plus500	check	check		€50 info	1.3 info

Why Plus500 stands out: Plus500 is best suited for Singapore traders who want a clean, intuitive trading experience without the complexity of multi-platform setups. The broker operates locally through Plus500SG Pte Ltd, which holds a Capital Markets Services license from MAS (registration 201422211Z, issued in 2014). Parent company Plus500 Ltd is publicly traded on the London Stock Exchange (LSE: PLUS).

Over six million residents can freely and legally trade forex in Singapore, so long as they do so with brokers that are regulated by the Monetary Authority of Singapore. MAS has long placed an emphasis on strong Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) guidelines as they pertain to brokers in Singapore, having been a founding member of the inter-governmental organization Asia Pacific Group on Money Laundering (APML).

To identify if your preferred forex broker in Singapore is regulated by MAS, we recommend validating the broker’s registration number through the regulator’s official page. You can typically find the broker’s registration number within the disclosure text at the bottom of their homepage.

In a break from tradition, forex trading in Singapore is not subject to taxation unless it is your main source of income, wherein your trading would be classified as a business activity. The Inland Revenue Authority of Singapore (IRAS) categorizes profits derived from forex trading as personal investments and thus those who trade as a hobby are exempt from paying Income or Capital Gains Tax.

While residents of Singapore are responsible for reporting taxable events to the government, with professional forex traders who trade for a living potentially paying an Income Tax rate of up to 22%, we recommend consulting with your local accountant to best determine your specific tax obligations.

IG is the best forex broker in Singapore. Simply put, IG provides an exceptional overall trading experience, complete with excellent trading and research tools, industry-leading education, and nearly 20,000 CFDs in its extensive product suite. Singaporeans looking for educational resources will find both written and video content along with weekly webinars, all of which complement the comprehensive courses available within the IG Academy. IG’s modern mobile app is loaded with 30 technical indicators, 20 drawing tools, and 16 selectable time frames across five chart types.

When opening a forex trading account in Singapore, it’s important to make sure that you are choosing a forex broker that is regulated and licensed in Singapore by the Monetary Authority of Singapore, a Tier-1 regulatory agency. Once you've picked a forex broker that is right for your individual needs, follow these important next steps to get started as a forex trader in Singapore:

1. Complete the live account application process. Make sure to read through all applicable terms and conditions.
2. Fund your new brokerage account. Choose your preferred deposit method, and make sure you are starting with an amount you can afford to risk.
3. Try out a demo (virtual trading) account. Familiarize yourself with the broker’s trading platform, get comfortable with the broker’s website and product offerings, and consume any available educational content.
4. Put together a trading plan. Even the best traders can lose money, but the key to long-term success lies in sticking to a trading plan that keeps your average losses low (relative to your average profits). Learn more about trading plans by checking out my guide to getting started as a forex trader.
5. Enter the forex market. Choose your desired trade size, and open a long position by clicking buy on a given currency, or open a short position by clicking sell.