Here are Seven Best Forex Brokers in Singapore to Consider Right Nowby Fintech News Singapore March 25, 2020
As you may know – especially if you’re a professional trader – Singapore comes with no taxes on trading profits. This means that, if you have the experience, you can make a good living in this particular country.
On top of that, Singapore is also known as one of the biggest financial hubs of Southeast Asia – other than it being one of the most enjoyable exotic travel destinations. As such, more and more traders look into how they could take advantage of Singapore’s trading environment.
In this respect, today we’ll be taking a look at the best Forex trading companies in Singapore that you should keep an eye on right now!
CityIndex is one of the oldest Forex brokers in Singapore – in this country, the broker is authorized by the MAS (Monetary Authority of Singapore).
In terms of special features, this particular broker is known for having tight spreads on all the major currencies and their pairs, not to mention the high number of available stocks – more than 4,500.
Saxo Markets is a licensed subsidiary of Saxo Bank, a leading Fintech specialist and global multi-asset facilitator of capital markets products and services founded in Denmark in 1992. Saxo Markets has operated in Singapore since 2006 and serves as the APAC headquarters, and is authorized by the MAS in Singapore.
In terms of special features, Saxo’s award-winning online trading platforms – SaxoTraderGO, SaxoTraderPRO and SaxoInvestor – provide comprehensive access to capital markets across the globe, at industry-leading prices, across asset classes from CFDs, Forex to ETFs and mutual funds. Investors can access and trade more than 40,000 instruments, including 19,000+ stocks across 37 exchanges worldwide, from one single margin account.
CMC Markets has offices in Australian, New Zealand, Canada, the UK, and Singapore – obviously. The Singapore office is, once again, fully authorized by the country’s monetary authority.
Established in 1989, CMC Markets comes with advantageous features for all traders – namely, over 8,000 stocks ready for trade, tight spreads, over 1,000 ETF CFDs, and more than 35 currency pairs for you to trade on.
Authorized by the MAS, Plus500 is a Forex broker founded in 2008 with offices in the UK, Cyprus, Australia, and Singapore.
When it comes to trading options and features, this broker comes with roughly 2,000 stocks ready for trading, more than 60 currency pairs, as well as tight spreads on those pairs.
OANDA is known as one of Singapore’s top brokers, as it has received the No.1 FX Broker award back in 2017. The broker has offices in the US, Australia, Canada, Japan, and Singapore – naturally.
It is highly appreciated by traders due to the more than 70 currency pairs that it offers, as well as due to its 24 metal CFDs. Even though it comes with mid spreads, the multitude of available currencies makes this broker very accessible to traders.
As the name implies, SwissQuote was originally a Swiss trading broker – but it now has offices in more than 5 countries, including Singapore (where it’s also fully authorized and regulated).
It is also a haven for stock and currency traders, as the broker has available more than 80 currency pairs and roughly 9,000 Stock CFDs – among indices, metal spot CFDs, bonds and energy forwards, and ETF CFDs.
This is probably the oldest Forex broker that’s available in Singapore – as it was in 1974. It has offices throughout the UK, Australia, Japan, UAE, and Singapore – naturally, authorized and regulated.
Its most notable features are the multitude of currency pairs (over 80), more than 6,000 Stock CFDs, more than 1,500 ETF CFDs, as well as indices, futures, and bonds that cover multiple markets throughout the world.
The Bottom Line
These were seven of the best Forex brokers that you can find in Singapore and which you should consider right now – mainly due to the number of features that they offer, not to mention their reputation and experience in the field of trading.
Naturally, all of the above are properly authorized and will offer you the best trading experience and more than enough information and insight to help you build your trading portfolio!