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5 “Best” Singapore Forex Brokers (January 2023)

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We have reviewed numerous forex brokers, these are the top 5 forex brokers in Singapore which have met our quality guidelines and accept residents of Singapore. We recommend the following:


#1. XM

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.

Read Our Detailed XM Review

Visit XM

Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.


#2. AvaTrade

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

Visit AvaTrade

Warning: Trading Forex/CFD & Options on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite.


#3. BD Swiss

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

Visit BDSwiss

Warning: Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.


#4. FXTM

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.

Read our Detailed FXTM Review

Visit FXTM

Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.


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.

Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.