During the rollover, swap points will be gained or lost. This gain or loss is a result of the interest rate differential between the currencies bought and sold; interest is earned on the currency bought and paid on the currency sold. Maintenance Margin The marked-to-market closing price will be used to calculate the maintenance margin. Phillip CFD reserves the right to amend margin requirements from time to time.
You will also be receiving in the email a link to install the MT5 Trading platform and a guide to help you get started. Important Trading Information 1. Example of Calculating Profits. The information and services contained in this website is not intended for distribution to, or for use by persons in the European Economic Area where such distribution or use would be contrary to the local law or regulation.
This advertisement has not been reviewed by the Monetary Authority of Singapore. Begin your trading journey now Open Account Free Demo. Established brokerage with more than 30 years of experience in the market. Ability to trade currency and precious metals on the same platform.
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In terms of extra features, you would want to have a good chart station or possibility to have multitude of different charts with different instruments so that you could compare them and chack their values on different time frames. You would also want to have multiple indicators, ability to make your own notes, close your entire position with one click, test your strategy, copy function and news feed on the platform.
Forex industry probably has the best type of commissions from the rest of financial industry. The fact is that Forex brokers are compensated from spreads which are difference between bid and ask prices. These can be fixed and variable. Fixed spreads will be around pips for major pairs and for currency crosses. Variable spreads tend to be much smaller under normal market conditions. They can be 0. When markets are affected by some fundamental news and start acting like crazy spreads expand and can be times bigger.
But they stay like that just for a few minutes till markets absorb new information and start acting normally again. A strong and reliable broker will offer you a lot of different types of accounts to choose from. Let us briefly look at some of them. Before you start trading you need to do some testing. A demo account is a good platform for doing that.
You will be able to find out how your trading strategies work under real market conditions without risking a dime. Investing in currencies does not mean you need to have millions or hundreds of thousands of dollars to start with. Mini account is a predecessor of micro account. These started when most retail brokers started offering their services to the average Joe around the world. However, the risk of losing big is greater on this account and your initial deposit should be at least 10k or better 25k so that you could trade with comfort and ease.
If you have any specific needs you may discuss them with your broker and you can be offered VIP or some other kind of account that would fit your needs, capital size and trading style best. Customer service is the mirror of the character of the broker.
If it is not properly functioning in a quick and efficient manner, you will not want to stay with such broker for too long. Living in Singapore you should also expect customer service in your local language or dialect. Lots of foreign scammy companies can come without being able to offer you that and that would be a red flag not to trade with them. Brokers compete with each other to win as many customers as they can by offering lots of extra services. It may include free webinars, daily and weekly analysis of various financial instruments, instant news feed from most popular financial news services Reuters, Bloomberg and etc.
Those are really helpful, especially if you are a novice to Forex. As you may see a Singapore trader has a lot to pick from in terms of choosing a reliable Forex broker. We have set expectations which you need to have about your broker in order to trade with piece of mind and concentrate on your trading strategy.
If you need, go through the mentioned points in the article before opening a real account with a specific broker. When you feel confident that you have found the one, then move on and do open an account. See our list of the best ones below. Best Forex Brokers in Singapore Advertising Disclosure Advertising Disclosure.
This page may not include all available products, all companies or all services. FX Empire Editorial Board. At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. The brokers below represent the best Forex brokers for trading in Singapore.
Scroll for more details. Market Maker. MT4, MT5. MT4, MT5, cTrader. ECN, No dealing desk. No dealing desk. Sponsored Sponsored. Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash. Note: Not all Forex brokers accept US clients.
For your convenience we specified those that accept US Forex traders as clients. AvaTrade Review. Competitive spreads and fees. Multilingual customer support. Not available to residents in the USA and Iran. FP Markets Review. Modern trading platforms. Low spreads on forex currency pairs. Really none that we can see.
Visit Broker The information provided on this website is general in nature only and does not constitute personal financial advice. TMGM Review. Pros: Cons: Fast execution. Tight spreads in forex. No deposit or withdrawal fees. Large range of trading instruments overall. Trademax Global Limited entity lacks negative balance protection. Narrow range of commodities available to trade. Visit Broker Forex margin trading involves substantial risks. Vincent and the Grenadines registered OctaFX. Visit Broker Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose.
IC Markets Review. Pros: Cons: Raw spread accounts with institutional grade liquidity available. Commission-free trading available. MetaTrader and cTrader available on desktop, web and mobile. Impressive library of educational material and videos. Beginner traders may be overwhelmed by the choice of markets and platforms.
FXTM Review. Plus Review. Commission-free trading. Simple to use proprietary trading platform. No phone support offered. Lack of market news and trader education. Top Brokers. Best Brokers. Best Forex Brokers. Best Forex Platforms.
Best CFD Brokers. Best Spread Betting Company. Best Crypto Trading Brokers. By Country. New Zealand. South Africa. Kuwait Brokers. Hong Kong. United Arab Emirates. By Trading Platform. MetaTrader 4. MetaTrader 5. By Account Type. Demo Account. Islamic Account. Segregated Account. Managed Account. VPS Hosting. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
More details about conditions of MAS regulated brokers can be viewed at the bottom of this page. The Razor account offers spreads as low as 0. As well as competitive spreads, Pepperstone offers award-winning customer service, leverage up to , and an Active Trader Rebates programme. Investors can open an account in SGD and trade forex, stocks, cryptocurrency, bonds, commodities and indices using cTrader and MetaTrader 4 and 5.
An excellent option for experienced and active traders, Saxo Capital Markets offers three different account types, a large range of financial instruments and relatively low commission. Say goodbye to lengthy applications with online lender Moula. With a speedy 10 minute application process and potential funding within 24 hours, Moula can help you meet your businesses inventory or cash flow needs without the fuss.
Plus Singapore offers a commission-free pricing structure where fees are built into the spread and can be as low as 0. With over forex pairs, 50 bonds, 12 cryptocurrencies and shares, CMC Markets have one of the most diverse product ranges.
Commissions start at 0. AxiTrader is a forex broker available on MetaTrader 4. Offering a Basic account with commission built into the spread, or a Pro account where spreads are as low as 0. The transparent fee structure, ECN-like spreads, and fast execution speeds make Pepperstone an excellent option for Singapore-based forex traders. To achieve institutional grade spreads, the fx broker uses multiple liquidity sources and straight-through processing STP execution. Choosing Pepperstone as your forex broker will give you access to their quality newsfeed, economic calendar, daily market report emails, as well as real-time, interactive charts with over 50 technical indicators.
Traders have access to forex, crypto and CFD markets comprised of:. Through a professional investor account with Pepperstone, you will have access to leverage of up to in the forex market, while the maximum leverage for retail investor accounts is Both account types allow scalping, hedging, and Expert Advisors and provide traders access to foreign exchange and CFD markets.
Fees and commission are built into foreign exchange spreads, ranging from 1. Pepperstone works with over 20 top-tier liquidity providers allowing for ECN-like spreads as low as 0. The program allows you to earn cash rebates as well as gain access to reduced commissions. Forex rebates are settled daily and paid into your trading account. Upgrading from a retail investor account to a VIP account gives traders access to premium rebates through the active program.
As well as higher rebates, VIP clients gain access to a Pepperstone client manager, exclusive VIP events, trading seminars and new products on the market. Pepperstone offers ultra-fast execution and no dealing desk NDD execution for both Razor and Standard accounts. When online trading, Pepperstone clients enjoy reduced latency due to servers in New York and London with fiberoptic connections to liquidity providers. The forex broker offers lightning-fast execution with most executed in less than 30 milliseconds.
Although not regulated by the Monetary Authority of Singapore MAS , they are seen as trustworthy and a top forex broker for Additionally, policies like segregated client funds ensuring your trading account balance are held in segregated funds at top-tier banks and not used for operational purposes. In addition to ECN-like spreads, ultra-fast order execution and CFD trading, the internationally regulated broker also offers award-winning customer support.
Demo accounts are offered for all Pepperstone account types and trading platform options. Fees are low with no inactivity, deposit or withdrawal fees charged. Depending on your investment preferences, there is the choice of the following account structures and pricing. The online forex broker also offers the additional option of an Islamic account for those following Sharia Law. As Islamic traders cannot receive or make payments derived from interest rates, the swap free account charges a flat-rate overnight financing fee to comply with Islamic finance practises.
Other instruments offer relatively high leverage compared with the market average. The low latency trading environment provides an average execution speed of 40ms, ideal for high-frequency trading. Using IC Markets as your forex broker will grant you access to a wide range of markets, including:. The Danish forex broker was established over 25 years ago and has since become a top forex broker popular among many Southeast Asian residents. As they derive prices from international liquidity providers such as ECNs, market-making firms, and banks, traders enjoy competitive ECN-like spreads within a range of financial markets.
Saxo Markets is a Danish forex broker established over 25 years ago. It has since become a top forex broker popular among many Southeast Asia residents. The intuitive and easy-to-use trading platform is available on desktop, mobile and tablet. As well as helpful features such as margin alerts and stop orders, the platform provides comprehensive portfolio summaries, performance analysis, and returns breakdown.
A great option for experienced or professional traders without the fees of institutional apps. The platform can be set up across multiple screens, offers advanced features including in-depth market analysis, and can be downloaded on Windows or Mac. Oanda is a great option for beginners looking for forex trading platform in Singapore. With 70 major and minor currency pairs, choosing Oanda as your trading platform will give you access to a wide range of forex investment opportunities.
As well as forex trading, you will have access to indices, commodities, spot metals, and bonds. Oanda offers two fee structures and no minimum deposit. Spreads are as low as 0. The wide range of training and research tools available make Oanda the best trading platform for beginners.
The intuitive web and mobile layouts are user friendly to those new to forex trading. The award-winning mobile app is available on both iOS and Android. To keep up to date with the latest market changes, set up alerts to notify you of the latest price movements. Forex spreads are competitive at 0. Fees are some of the lowest among the top forex in Singapore. There are no fees for withdrawals, and inactivity fees only kick in after 24 months.
City Index offers Crypto CFD strategies, including going long or short Bitcoin and Ethereum only , and trading on both margin and volatility. Plus is a top global trading platform available in 31 languages. The Plus trading platform provides access to both standard and unique resources to develop strategies but lacks comprehensive analytical tools. The average spread is 0. Clients have access to five free withdrawals per month, so the chances of being charged fees are low.
No minimum deposits, commissions from 0. The Australian broker offers competitive spreads, high leverage, and access to over 80 currency pairs. A basic account offers zero commission spreads from 1. Axi offers several tools to implement social and copy trading. Whether you lack experience or time, Axi provides three third-party options for automated forex trading in Singapore.