Best Forex Brokers in Singapore 2024

Looking for the best Forex brokers in Singapore? Look no further! In this article, we will discuss the top Forex brokers in Singapore and what you should look for when choosing a broker. We will also provide a list of our top picks for Forex brokers in Singapore. So, whether you are new to Forex trading or an experienced trader, read on to find out more about the best Forex brokers in Singapore.

How to Choose Best Forex Brokers in Singapore?

Choosing a Forex broker in Singapore can be a daunting task, but it doesn't have to be. There are a few things you should look for when choosing a broker, such as:

Regulation: Make sure the broker is regulated by the Monetary Authority of Singapore (MAS). This ensures that the broker is safe and reliable.

Platforms: The broker should offer a trading platform that is user-friendly and suits your needs.

Products: The broker should offer a good range of currency pairs including major and minor forex pairs. 

Cost: Trading cost and minimum deposit should be according to industry per.

Customer Service: The broker should have good customer service in case you need any help with your trading.

Top Forex Brokers in Singapore 2024

Singapore Regulatory Authority

The Monetary Authority of Singapore (MAS) is the central bank of Singapore. Established on January 1, 1971, MAS is a statutory board under the Ministry of Finance. As Singapore's central bank, MAS manages monetary policy, regulates and supervises financial institutions in Singapore, and promotes developmental and regulatory policies that are conducive to maintaining financial stability. MAS is also the financial advisor and manager for the Singapore Government.

MAS has come a long way since its establishment in 1971. From managing exchange control to overseeing banking activities, MAS' role has evolved over the years in response to changing economic conditions. Today, MAS' core functions include conducting monetary policy, regulating and supervising financial institutions, managing official foreign reserves, and promoting a sound and progressive development of the financial sector in Singapore. MAS plays an active role in international policy forums to safeguard Singapore's interests and contribute to global financial stability. When choosing a broker in Singapore, make sure it's regulated by MAS.

What is the primary objective of MAS?

To create a credible regulation and oversee the financial services offered in Singapore. MAS is also accountable for the development of an online financial network , known as MASNET which has evolved to become a communications hub for banks as well as financial institutions, to share data.

As a rule, MAS tasks include

  • As the Central bank for Singapore which includes the execution of policies on monetary policy, the creation of currency, the supervision of payment systems, as well as acting as banker to and financial agent for the government.
  • Monitoring integrated financial services and monitoring of financial stability.
  • The management of the official reserves of foreign currency in Singapore.
  • Growing Singapore to become an internationally renowned financial center.

Top Mas Regulated Brokers in Singapore

Now that you know what to look for in a Forex broker, let's take a look at our top picks for Forex brokers in Singapore.


Plus500 is a global leader in online retail forex trading. They are regulated by the MAS and other regulatory authorities around the world and offer a user-friendly trading platform.

There are over 2000 instruments available on the platform. Plus500 Ltd is listed on the London Stock Exchange’s Main Market for Listed Companies.


image credit: Plus500

Plus500 Regulations

Plus500 is regulated by different reputable regulatory authorities around the world.

United Kingdom: Plus500UK Ltd is authorized & regulated by the FCA (#509909).

Cyprus: Plus500CY Ltd is authorized & regulated by CySEC (#250/14).

Singapore: Plus500SG Pte Ltd, is licensed and regulated by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).

Australia: Plus500AU Pty Ltd (ACN 153301681) is licensed by ASIC, AFSL #417727. 

New Zealand: Plus500 is also regulated by FMA (FSP 486026), 

South Africa: Plus500 is authorised by FSCA, FSP #47546. 

Seychelles: Plus500SEY Ltd is authorized & regulated by the Seychelles Financial Services Authority (#SD039).

Plus500 Trading Platforms

Plus500 uses a proprietary trading platform (web browser platform). It's accessible from any browser. You can also download the desktop version on your PC/laptop. They don't have MT4 or MT5. They also have Android and iOS apps.  

Plus500 Products

They offer 60+ Currency pairs, 17+ Cryptocurrencies, most popular Indices, Commodities  (Gold, Oil and Silver), Popular shares, Options, and ETFs. Spreads of Plus500 vary depending on the instruments you are trading. Leverage varies from 1:2 for Cryptos to 1:30 for Forex.

Cost of Plus500

They don't have any trading fees. They make money by spreads and swap. But they have an inactivity fee of $10 per month if your account is inactive for 3 months. 

Minimum deposit is $100. Depending on withdrawal methods, they have different withdrawal limits. You will find it on the withdrawal screen of Plus500 platform.

Customer Support

Plus500 trading app offers support in 32 languages, including English, German, Greek, Italian, Spanish, French, Finnish, Danish, Swedish, Estonian, Russian, Romanian, Hebrew, Arabic, and Traditional and Simplified Chinese.

The platform offers 24/7 support via email and chat. You will find an answer to most questions via the FAQ section. However, if the clients cannot find the query in the FAQ then they can start an online chat.

Read Full Review of Plus500

Pros and Cons of Plus500


√ Access to over 2000 CFDs

√ A user-friendly and practical platform

√ Regulated by many regulatory authorities

√ Guaranteed stop loss orders

√ Protection against negative balance


- Customer support is not available via phone call

- It does not take U.S. clients

- The trading platform can't be used with other tools for trading or platforms

If you'd like to try Plus500, You can do so by clicking the following link:

Top Forex Brokers in Singapore 2024


Swissquote is a reliable broker that offers online trading. They are also regulated by the MAS and offer a variety of different account types to suit your needs.

Based located in Gland, Switzerland, Swissquote has offices in Zurich, Bern, London, Luxembourg, Malta, Dubai, Hong Kong and Singapore and serves individuals and institutions by providing online global custody and securities trading across more than 3 million instruments including Forex, an ingenuous Robo-Advisory services and custodial solutions.

Swissquote logo

image credit: Swissquote

Swissquote Regulations

Swissquote is regulated by various regulatory authorities around the world.

Switzerland: Swissquote Limited is licensed and regulated by the Swiss Federal Financial Market Supervisory Authority (FINMA).

United Kingdom: Swissquote Ltd is authorised and regulated by the Financial Conduct Authority (FCA).

Singapore: Swissquote Limited (SG) is authorized and regulated by The Monetary Authority of Singapore (MAS).

UAE: Swissquote MEA Ltd has a category 3A licence from the Dubai Financial Services Authority (DFSA).

Asia: Swissquote Asia Ltd is licensed under the Securities and Futures Commission (SFC) in Hong Kong. 

Malta: Swissquote Financial Services (Malta) Ltd is licensed by the Malta Financial Services Authority (MFSA).

Swissquote Trading Platforms

Swissquote FX offers its clients three trading platforms. They are MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and their own platform named the Advanced Trader plus FIX API.

For other instruments except Forex, Swissquote offers 'eTrading platform'. The eTrading platform has been designed to help you reach your goals for investment in the most easy and easy-to-use manner.

They also have their proprietary mobile app for both android and iOS along with Mobile Level 3 app. By using Mobile Level 3, you can make trades even more efficient. With this Mobile Level 3 solution, you can trade anytime, even if it's not your Card Level 3 Card.

Swissquote Products

Swissquote offers Forex, Stocks, Bonds, Forex Options, CFDs, Swiss Dot, Cryptocurrencies, Options and Futures, ETFs and more.

Let's check a few of their product details. Swissquote offers 130+ Forex pairs. For stocks, they offer shares from all the prominent stock markets of the world. They provide 9,000 ETFs and ETNs from the most reputable financial institutions and investment banks. They also offer 26 Cryptos including Bitcoin, Ethereum Litecoin, Ripple and more. Swiss Dot is traded in the OTC market. There are more than 90,000 derivatives in the Swiss Dot universe. 

For forex trading in Singapore, they offer 1:100 leverage. 

Swissquote has three types of trading accounts. 1. Standard account, 2. Premium account 3. Prime account. 

If CFD is something you are into, read our Best CFD Brokers in Singapore 2024 article

Cost of Swissquote

The minimum deposit of Swissquote for Singapore is $1000. Their spreads start from 1.4 pips and do not have any commission.

Deposit and withdrawal charges vary depending on payment methods.  Commissions for stock trading very depending on stock markets and trade Volume.

The inactivity fee amounts to a maximum of 10 units of your base currency in any account is inactive for 6 months or more.

Customer Support

Swissquote provides customer support service which is accessible all hours of the day, from 8.00 am until 6.00 pm, Monday through Friday. You can reach their customer service representatives via the live chat feature, via fax, or phone, their skilled and courteous support staff will promptly provide solutions to your queries in a variety of languages such as English, German, French as well as other major languages.

Read Full Review of Swissquote

Pros and Cons of Swissquote


- It is Regulated and licensed by FINMA and FCA.

- Swissquote is listed on SIX stock exchange.

- High level of account protection.

 - Responsive customer support.

 - It has low fund fees

- There is no minimum deposit for trading account


- US traders not allowed

- Inactivity fees

- High stock and ETF fees

- High bond fees

- Forex and robo-advisor accounts have high minimum deposit.

If you want to give it a try with Swissquote, you can use the link  below:

You can also try any of the following alternative Forex Brokers:

Multibank Review
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Multibank Group

In our top Forex broker list of the Netherlands, Multibank is the one we are going to cover last. Multibank is one of the largest forex brokers in the world and is based in London. The company offers a wide range of currency pairs and CFDs for clients to trade. 

MultiBank Group logo_600x400

image credit: Multibank Group

MultiBank Regulations

In the case of trading, you should never select an unregulated broker. not licensed. MultiBank Group consists of several companies that are heavily controlled across five continents by ten financial regulators across a variety of areas, ensuring protection for investors.

Australia: MEX Australia is governed through the Australian Securities & Investments Commission with AFSL numbers 416279.

Germany: The broker is regulated by The Federal Financial Supervisory Authority (BAFIN) with license number HRB 73406.

Austria: MEX Asset Management GmbH -Austria branch is licensed and regulated under the Financial Markets Authority ("FMA") under licence number 491129z.

Cayman Islands: MEX Atlantic Corporation is licensed and controlled through CIMA. Cayman Islands Monetary Authority ("CIMA") with license number 1811316.

British Virgin Islands: Multibank FX International Corporation is licensed and controlled under the Financial Services Commission of the British Virgin Islands ("FSC") under license number SIBA/L/14/1068.

Hong Kong: Red Rock Pay Ltd is licensed and is regulated under the supervision of Hong Kong Customs and Excise ("HKCE") Department under license number 18-11-02612.

Singapore: MEX Global Markets PTE. LTD. is authorized and controlled through Singapore's Monetary Authority of Singapore ("MAS") with license number CMS101174.

Pacific Region: MEX Pacific (V) Ltd is licensed and regulated by Vanuatu Financial Service Commission ("VFSC") and has a license number 700443.

Multibank Trading Platforms

Traders can choose a platform among a list of trading platforms of MultiBank Group. They offer the following trading platforms.

MetaTrader 4

MetaTrader 5


Social Trading

Mobile App

MultiBank Products

If we see the investment options, MultiBank offers Forex, Metals, Shares, Indices, Commodities and Cryptocurrencies. 

MultiBank provides 55+ major, cross, and exotic currency pairs, and gives the tightest spreads. Their EUR/USD spreads start from 0.0 pip in an ECN account. If you are a mental lover, MultiBank has Gold, Silver with 7 CENTS Tightest spreads on Gold, 3 CENTS Tightest spreads on Silver. MultiBank offers CFDs on stocks. They have 20,000 equities of the largest multinational companies listed on the top stock exchanges in the world. 

MultiBank has major indices from all over the world. You can trade major indices like US30, SP500, DE30, UT100, UK100, AUS200 and more. They provide 16 major commodities by CFDs. Spreads start with zero pip and have lower margin. Multibank offers Crypto-Fiat pairs for trading. For example, they have BTC/USD (Bitcoin), ETH/USD (Ethereum), LTC/USD (LiteCoin), RPL/USD (Ripple) and more. 

MultiBank offers three types of accounts.  Standard, Pro, ECN accounts and Demo accounts. All account types support Social Trading.

They have Islamic accounts for Shares, Crypto, Indices and Commodities. Swap Free account is only available with Standard account.

They also have a Mex Sports account exclusively for the MT5 platform.

For Forex, spreads start from zero in an ECN account and vary according to your account type.

MultiBank provides 1.500 leverage on forex and metals.  For shares 1:20, For Indices 1:100, for crypto 1:20

Costs of MultiBank 

They do not have any commission for Standard and Pro accounts but for ECN  accounts they charge $3 per lot.

They have a wide range of deposit methods including bank transfers and cards.

Minimum withdrawal amount is $50 for card and online and for bank transfer it's $100.

They do not have any deposit or withdrawal fees.

Deposit and Withdrawal time vary depending on the payment methods as they have so many methods.

MultiBank Customer Support  

Trading requires a lot of customer support from brokers. They provide 24/7 support which is really amazing. Their customer support is available via Whatsapp, form filling, live web chat and 24/7 phone call. We found their web chat very responsive.

Read Full Review of Multibank

Pros and Cons of Multibank


√ They offer 20,000+ assets

√ Low spreads from 0 pips and maximum leverage of 1:500

√ They have MAM/PAMM accounts and proprietary copy trading platform

√ Multibank provides ECN trading with deep liquidity and no requotes


- Scalping is not allowed on Multibank

- They have limited education resources

Want to try Multibank in Singapore? You can do so by clicking the following link:


For forex trading you need to find a reliable accredited broker. It isn't easy to figure out which Forex broker is best for you in Singapore. The brokers we've listed are all great, however, based on your specific needs, they may differ from one another. We hope this article has been helpful to you in some way , and you're on the way to finding the right broker to meet your needs in trading. If you have questions or require more information do not be afraid to post a comment below. We'll be more than happy to help you further. 

Top Forex Brokers in Singapore 2024


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