Best forex trading broker in singapore

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What to look for in a good Singapore forex trading platform online

Trading forex currencies in Singapore is popular among residents. Before any fx broker in Singapore can accept forex and CFD traders as clients, they must become authorised by the Monetary Authority of Singapore MAS , which is the financial regulatory body in Singapore. MAS's website is mas. For a historical breakdown, here's a link to the Monetary Authority of Singapore's webpage on Wikipedia. To find the best forex brokers in Singapore, we created a list of all MAS authorized brokers, then ranked brokers by both trustworthiness, as well as their Overall ranking.

Here is our list of the top forex brokers in Singapore. Compare Singapore authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers. To identify if a forex broker is regulated by MAS, the first step is to identify the register number from the disclosure text at the bottom of the broker's Singapore homepage.

MAS for Regulating Forex Brokers in Singapore

Next, look up the firm on the MAS website to validate the register number is, in fact, legitimate. Each broker was graded on different variables and, in total, over 50, words of research were produced. While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time live in person or over the web for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than. For experienced investors, City Index is worth considering due to its competitive margins and relatively low forex spreads. This online trading platform typically offers spreads that are slightly better than the market average as displayed in the table below.

Finally, City Index offers training materials to its users, which can be helpful for those that need a refresher on FX and margin trading topics. There are a few important characteristics to consider when choosing an online platform for FX trading. Investors should first consider the comparative cost of each brokerage. The best way to do this is to compare average spreads for currencies of interest.

Additionally, some platforms charge commission fees with each trade or a monthly fee for using the service. Furthermore, users should be aware of the ease of use of each platform.

Finally, investors seeking to buy and sell a range of securities should consider how competitive the platform is in terms of the pricing and offerings of these assets. We also strongly suggest that investors have a thorough understanding of FX markets before investing their own funds.

In order to conduct our review of the best online brokerages for foreign exchange trading, we researched the FX spread pricing of the top platforms available in Singapore, as this is the most indicative measure of each platform's forex trading costs. We used comparable pricing data from July when possible and live spreads from August in all other cases.

William is a Product Manager at ValueChampion Singapore, helping consumers and SMEs find the best banking products through comprehensive analysis of data. He previously was an Economic Consultant at Industrial Economics Inc, where he conducted a variety of research and economic analyses.

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He graduated from University of Vermont with degrees in Economics and Psychology. His work has been featured on a variety of major media such as the Straits Times, the Business Times, the Edge, DailySocial, the Entrepreneur and more. View the discussion thread. Advertiser Disclosure: ValueChampion is a free source of information and tools for consumers.

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